Nortech Systems enters into Seventh Amendment to Loan Agreement with Bank of America

NORTECH SYSTEMS INC

Amendment dated March 4, 2022 modifies borrowing base and adds definitions for CARES Act and Employee Retention Credits.
Borrowing base includes up to $2.5 million of Eligible ERC Amount, subject to evidence and no dispute.
Distribution restrictions amended: allows annual redemptions up to $300,000 and other distributions when Eligible ERC Amount is $0.
Borrower reaffirms representations, no default, and releases claims against Lender.

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