Exhibit 10.12
 GULF COAST BUSINESS CREDIT
 RECEIVABLES PURCHASE
AGREEMENT
RECOURSE
 THIS RECEIVABLES PURCHASE AGREEMENT Agreement AMERICAN LOCKER GROUP INCORPORATED Company GULF COAST BANK AND TRUST COMPANY GCBC
 Definitions Schedule A
 Sale and Acceptance of Receivables.
      Payment of Purchase Price.
  rd
  Reserve Account.




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Fees and Discounts.
      Repurchase of Receivables; Charge Rights Against Reserve Account.
          2




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Authorizations to GCBC.
     Security Interest.
   Financial Statements.
  Financial Statements
     Covenants By Company.
   3




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Representations and Warranties.
           4




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Representations Concerning Factored Receivables
      Default.
  Waiver of Notice. COMPANY WAIVES ANY REQUIREMENT THAT GCBC INFORM COMPANY BY AFFIRMATIVE
ACT OR OTHERWISE OF ANY ACCELERATION OF COMPANYS OBLIGATIONS HEREUNDER. FURTHER, GCBCS FAILURE
TO CHARGE OR ACCRUE INTEREST OR FEES AT ANY DEFAULT OR PAST DUE RATE SHALL NOT BE DEEMED A
WAIVER BY GCBC OF ITS CLAIM THERETO.
 Effect of Default
   Survival.
 Severability of Provisions.
 Conflict
 Amendment
 No Waiver.
 Headings.
 Waiver Of Trial By Jury. IN RECOGNITION OF THE HIGHER COSTS AND DELAY THAT MAY
RESULT FROM A JURY TRIAL, THE PARTIES HERETO WAIVE ANY RIGHT TO TRIAL BY JURY OF ANY CLAIM,
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DEMAND,
ACTION OR CAUSE OF ACTION (A) ARISING HEREUNDER, OR (B) IN ANY WAY CONNECTED WITH OR RELATED OR
INCIDENTAL TO THE DEALINGS OF THE PARTIES HERETO OR ANY OF THEM WITH RESPECT HERETO, IN EACH CASE
WHETHER NOW EXISTING OR HEREAFTER ARISING, AND WHETHER
SOUNDING IN CONTRACT OR TORT OR OTHERWISE; AND EACH PARTY HEREBY AGREES AND CONSENTS THAT ANY SUCH
CLAIM, DEMAND, ACTION OR CAUSE OF ACTION SHALL BE DECIDED BY COURT TRIAL WITHOUT A JURY, AND THAT
ANY PARTY HERETO MAY FILE AN ORIGINAL COUNTERPART OR A COPY OF THIS SECTION WITH ANY COURT AS
WRITTEN EVIDENCE OF THE CONSENT OF THE PARTIES HERETO TO THE WAIVER OF THEIR RIGHT TO TRIAL BY
JURY.
 Costs and Expenses; Interest.
    Term; Effective Date
  Company
understands that this provision constitutes a waiver of its rights under §9-513 of the UCC
  Indemnification and Release.
    6




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State Law; Jurisdiction.
 Miscellaneous.
 Notice.
   (a)
    
    If to GCBC:
    
    Gulf Coast Business Credit200 St. Charles Avenue, Fourth FloorNew Orleans, Louisiana 70130Phone No. 504-412-2029Facsimile No. 504-412-2040(b)
    
    If to the Company:
    
    American Locker Group Incorporated815 S. Main StreetGrapevine, Texas 76051Phone No. 817-329-1600Facsimile No. 817-481-3993
 Determination of Initial Payment and Residual Payment
 Provision Regarding Usury
 USA Patriot Act Notification.
  Counterparts.
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IN WITNESS WHEREOF
 GCBC:GULF COAST BANK AND TRUST COMPANYD/B/A GULF COAST BUSINESS CREDIT/s/ Wade Hladky

By: Wade HladkyTitle: Senior Vice PresidentCOMPANY:AMERICAN LOCKER GROUP INCORPORATEDBy: /s/ Paul M Zaidins

Name: Paul M. ZaidinsTitle: President, Chief Operating Officer and Chief Financial OfficerEffective Date: July 28, 2009Attachments:Schedule A- DefinitionsSchedule B- Form of Schedule of AccountsSchedule C- Form of Release
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Account Debtor  
 Agreement 
 Accrual Termination Date 
 Avoidance Claim
 Business Day 
 Collateral 
 Company 
 Daily Variable Discount Rate
 Discounts
 Event of Default 
 Facility Limit $2,500,000.00, less
 Factored Receivable 
 Fixed Discount
 Fixed Discount Percentage 
 GCBC 
 GCBC Investment 
 Gross Amount
 Guarantor
 Ineligible Receivables 
 Initial Payment 
 Initial Payment Date
 Late Repurchase Fee
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Lockbox Address the following address:
    
    P.O. Box 203047
Houston, Texas 77216-3047
 Misdirected Payment Fee 
 Net Face Amount 
 Obligations 
 Person
 Prime Rate
 Receivables
 Related Party
 Related Party Documents
 Repurchase Due Date th
 Repurchase Price 
 Required Termination Period 
 Reserve Account 
 Reserve Amount
 Reserve Percentage 
 Residual Payment
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Security interest
 Schedule of Accounts 
 Uniform Commercial Code
 Variable Discount 
 Voluntary Termination Period
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