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ex101uniquenote

                                                                                PAYCHECK PROTECTION NOTE     VIRGINIA BORROWERS: THIS INSTRUMENT CONTAINS A CONFESSION OF JUDGMENT PROVISION      WHICH CONSTITUTES A WAIVER OF IMPORTANT RIGHTS YOU MAY HAVE AS A DEBTOR AND     ALLOWS THE CREDITOR TO OBTAIN A JUDGMENT AGAINST YOU WITHOUT FURTHER NOTICE.   SBA Loan #           832678711  SBA Loan Name        Unique Fabricating, Inc   Date                 4/17/2020  Loan Amount          $5,998,700.00  Fixed Interest Rate  1.0%  Borrower             Unique Fabricating, Inc    Lender               Citizens Bank N.A.                       1 Citizens Plaza                       Providence, RI 02903   1.    PROMISE TO PAY:         In return for the Loan, Borrower promises to pay to the order of Lender the amount of         5,998,700.00                                                           Dollars,         interest on the unpaid principal balance, and all other amounts required by this Note.   2.    DEFINITIONS:                                the 8-week period beginning on the date of first disbursement of the Loan.                                                                                                                                   Economic                                      (P.L. 116-136).                                                                                       3.    LOAN FORGIVENESS; PAYMENT TERMS:         A.    Loan  Forgiveness:  Borrower  may  apply  to  Lender  for  forgiveness  of  the  amount  due  on  the               Loan in an amount equal to the sum of the following costs incurred by Borrower during the 8-              week period beginning on the date of first disbursement of the Loan:               i.   Payroll costs               ii.  Any payment of interest on a covered mortgage obligation (which shall not include any                     prepayment of or payment of principal on a covered mortgage obligation)               iii.  Any payment on a covered rent obligation                                                                                                   5 

 

      iv.  Any covered utility payment       The amount of loan forgiveness shall be calculated (and may be reduced) in accordance with        the requirements of the Program, including the provisions of Section 1106 of the  CARES Act.        Not more than 25% of the amount forgiven can be attributable to non-payroll costs. If Borrower         January  1, 2020 and April  4,  2020 and used the  proceeds  of that EIDL for payroll costs, that        amount shall be subtracted from the loan forgiveness amount.         Forgiveness  wi       documentation as required by the SBA and Lender.        B.    Submission  of  Information  and  Documents:        submission  to  Lender of  information  and  documentation  as required by the  SBA  and  Lender.        Not  before  July  1,  2020  and  by  August  15,  2020,  Borrower  shall  provide  Lender  with        information, in form and substance acceptable to Lender, specifying the amount of forgiveness        Borrower requests, together with all documentation required by the CARES Act, the SBA and/or        Lender to evidence and/or  verify  such information.  Required information shall include, without        limitation:        (i)  the  total  dollar  amount  of  payroll  costs  during  the  Forgiveness  Period  and  the  dollar              amounts  of  covered mortgage  interest  payments,  covered rent  payments  and  covered              utilities  for  the  Forgiveness  Period  to  the  extent  Borrower  seeks  forgiveness  for  these              costs.        (ii)  the average number of full-time equivalent employees of Borrower per month during (a)               same period in 2019, and (c) if the average number of full-time equivalent employees is              lower than the average number for the period described in subsection (ii)(b) above, the              period from January 1, 2020 through February 29, 2020;        (iii)  the number of full-time equivalent employees of Borrower as of February 15, 2020, April              26, 2020 and June 30, 2020;         (iv)   the total amount of salary and wages during the Covered Period and during the fourth              calendar quarter of 2019 of each employee who had the amount or rate of such salary              and wages reduced by more than 25% during the Covered Period from the amount or                                                                          (v)  the rate of salary and wages of each Lowered Employee as of February 15, 2020, April              26, 2020 and June 30, 2020; and        (v)   such further information and documents as Lender or the SBA shall require.  C.    Initial Deferment Period: No payments are due on the Loan for 6 months from the date of first        disbursement of the Loan. Interest will continue to accrue during the deferment period.   D.    Maturity: This Note will mature two years from date of first disbursement of the Loan.  E.    Payments from End of Deferment Period through Maturity Date: To the extent the Loan is not        forgiven  during  the  deferment  period  or  thereafter,  the  outstanding  balance  of  the  Loan,  and        interest thereon, shall be repaid in eighteen substantially equal monthly payments of principal        and interest, commencing on the first business day after the end of the deferment period.   F.    Payment Authorization:        bank account, by wire or ACH transfer, for each monthly or other payment required hereunder. 

 

             In the event any such payment is unsuccessful, Borrower shall remain liable for such payment               and shall take all steps required to make such payment.         G.    Interest Computation; Repayment Terms: The interest rate on this Note is one percent per year.               The  interest  rate  is  fixed  and  will  not  be  changed  during  the  life  of  the  Loan. Interest  will  be               calculated based upon actual days over a 365-day year.         H.    Payment Allocation: Lender will apply each installment payment first to pay interest accrued to               the  day  Lender  received  the  payment,  then  to  bring  principal  current,  and  will  apply  any               remaining balance to reduce principal.         I.    Loan  Prepayment:  Notwithstanding  any  provision  in  this  Note  to  the  contrary,  Borrower  may               prepay  this  Note  at any  time  without  penalty.  Borrower  may  prepay  20 percent  or  less  of the               unpaid principal balance at any time without notice. If Borrower prepays more than 20 percent               and the Loan has been sold on the secondary market, Borrower must: (i) give Lender written               notice; (ii) pay all accrued interest; and (iii) if the prepayment is received less than 21 days from               the  date  Lender  received  the  notice,  pay  an  amount  equal  to  21  days  interest  from  the  date               Lender received the notice, less any interest accrued during the 21 days and paid under (ii) of               this paragraph. If Borrower does not prepay within 30 days from the date Lender received the               notice, Borrower must give Lender a new notice.   4.    NON-RECOURSE:  Lender  and  SBA  shall  have  no  recourse  against  any  individual  shareholder,         member or partner of Borrower for non-payment of the loan, except to the extent that such shareholder,         member or partner uses the loan proceeds for an unauthorized purpose.   5.    USE OF PROCEEDS:          Borrower represents and warrants that all proceeds of the Loan will be used for the following eligible         business  purposes,  as  required  by  the  CARES  Act:  (I)  payroll  costs;  (II)  costs  related  to  the         continuation  of  group  health  care  benefits  during  periods  of  paid  sick,  medical,  or  family  leave,  and         insurance premiums; (III) employee salaries, commissions, or similar compensations; (IV) payments of         interest on any mortgage obligation (which shall not include any prepayment of or payment of principal         on  a  mortgage  obligation);  (V)  rent  (including  rent  under  a  lease  agreement);  (VI)  utilities;  and  (VII)         interest on any other debt obligations that were incurred before February 15, 2020, provided that not         less than 75% of expended Loan proceeds shall be devoted to items (I)-(III) above.   6.    DEFAULT:         Borrower is in default under this Note if Borrower does not make a payment when due under this Note,         or if Borrower:         A. Fails to do anything required by this Note and other Loan Documents;         B. Does not disclose, or anyone acting on its behalf does not disclose, any material fact to Lender or            SBA;         C. Makes,  or  anyone  acting  on  its  behalf  makes,  a  materially  false  or  misleading  representation  to            Lender or SBA;         D. Reorganizes, merges, consolidates, or otherwise changes ownership or business structure without                  s prior written consent;          E.             below): 

 

             (i)   Defaults on any other loan with Lender;               (ii)  Defaults on any loan or agreement with another creditor, if Lender believes the default                                                                                  (iii) Fails to pay any taxes when due;                (iv)  Becomes the subject of a proceeding under any bankruptcy or insolvency law;                (v)   Has a receiver or liquidator appointed for any part of their business or property;                (vi)  Makes an assignment for the benefit of creditors;                (vii) Has  any  adverse  change  in financial  condition  or  business  operation  from  the  date  of                     this  Note that  continues  after the  Adverse  Forgiveness  Determination  and  that  Lender                                                                                           (viii) Becomes the subject of a civil or criminal action from the date of this Note that continues                     after  the  Adverse  Forgiveness  Determination  and  that  Lender  believes  may  materially                                                        7.                                                    Upon a default by Borrower, without notice or demand and without giving up any of its rights, Lender         may:         A. Require immediate payment of all amounts owing under this Note; or         B. File suit and obtain judgment.   8.                                                                                                  A. Incur expenses to collect amounts due under this Note and enforce the terms of this Note or any             and costs. If Lender incurs such expenses, it may demand immediate repayment from Borrower or            add the expenses to the principal balance; and         B. Take any action necessary to collect amounts owing on this Note.   9.    WHEN FEDERAL LAW APPLIES:         When SBA is the holder, this Note will be interpreted and enforced under federal law, including SBA         regulations. Lender or SBA may use state or local procedures for filing papers, recording documents,         giving  notice, foreclosing liens,  and  other  purposes.  By  using  such procedures,  SBA  does  not  waive         any federal immunity from state or local control, penalty, tax, or liability. As to this Note, Borrower may         not claim or assert against SBA any local or state law to deny any obligation, defeat any claim of SBA,         or preempt federal law.   10.   SUCCESSORS AND ASSIGNS:                                signs.   11.   GENERAL PROVISIONS:         A. All individuals and entities signing this Note are jointly and severally liable. 

 

       B. Borrower waives all suretyship defenses.        C. Borrower must sign all documents necessary at any time to comply with the Loan Documents.         D. Lender  may  exercise  any  of  its  rights  separately  or  together,  as  many  times  and  in  any  order  it            chooses. Lender may delay or forgo enforcing any of its rights without giving up any of them.         E. Borrower may not use an oral statement of Lender or SBA to contradict or alter the written terms of            this Note.         F. If any part of this Note is unenforceable, all other parts remain in effect.         G. To  the  extent  allowed  by  law,  Borrower  waives  all  demands  and  notices  in  connection  with  this            Note,  including  presentment, demand,  protest, and  notice  of  dishonor. Borrower  also  waives any            defenses based upon any claim that Lender did not obtain any guarantee or collateral.   12.   STATE-SPECIFIC PROVISIONS:         A.                                                                                      CONFESSION OF JUDGMENT. BORROWER HEREBY IRREVOCABLY AUTHORIZES AND               EMPOWERS  ANY  ATTORNEY-AT-LAW,  AFTER THE OCCURRENCE OF A DEFAULT, TO               APPEAR  IN  ANY  COURT  OF  RECORD  AND  TO  CONFESS  JUDGMENT  AGAINST               BORROWER  FOR  THE  UNPAID  AMOUNT  OF  THIS  NOTE,  AND  TO  RELEASE  ALL               ERRORS, AND WAIVE ALL RIGHTS OF APPEAL. IF A COPY OF THIS NOTE, VERIFIED BY               AN  AFFIDAVIT,  SHALL  HAVE  BEEN  FILED  IN  THE  PROCEEDING,  IT  WILL  NOT  BE               NECESSARY  TO  FILE  THE  ORIGINAL  AS  A  WARRANT  OF  ATTORNEY.  BORROWER               WAIVES  THE  RIGHT  TO  ANY  STAY  OF  EXECUTION  AND  THE  BENEFIT  OF  ALL               EXEMPTION  LAWS  NOW  OR  HEREAFTER  IN  EFFECT.  NO  SINGLE  EXERCISE  OF  THE               FOREGOING WARRANT  AND POWER TO CONFESS JUDGMENT  WILL BE  DEEMED TO               EXHAUST THE POWER, WHETHER OR NOT ANY SUCH EXERCISE SHALL BE HELD BY               ANY COURT TO BE INVALID, VOIDABLE, OR VOID; BUT THE POWER WILL CONTINUE               UNDIMINISHED AND MAY BE EXERCISED FROM TIME TO TIME AS LENDER MAY ELECT               UNTIL ALL AMOUNTS OWING ON THIS NOTE HAVE BEEN PAID IN FULL.         B.                                                                                      POWER TO CONFESS JUDGMENT. BORROWER HEREBY EMPOWERS ANY ATTORNEY               OF ANY COURT OF RECORD, AFTER THE OCCURRENCE OF A DEFAULT HEREUNDER,               TO APPEAR FOR BORROWER AND, WITH OR WITHOUT COMPLAINT FILED, CONFESS               JUDGMENT,  OR  A  SERIES  OF  JUDGMENTS,  AGAINST  BORROWER  IN  FAVOR  OF               LENDER  OR  ANY  HOLDER  HEREOF  FOR  THE  ENTIRE  PRINCIPAL  BALANCE  OF  THIS               NOTE,  ALL  ACCRUED  INTEREST  AND  ALL  OTHER  AMOUNTS  DUE  HEREUNDER,  AND               FOR  DOING  SO,  THIS  NOTE  OR  A  COPY  VERIFIED  BY  AFFIDAVIT  SHALL  BE  A               SUFFICIENT WARRANT. BORROWER HEREBY FOREVER WAIVES AND RELEASES ALL               ERRORS IN SAID PROCEEDINGS AND ALL RIGHTS OF APPEAL AND ALL RELIEF FROM               ANY  AND  ALL  APPRAISEMENT,  STAY  OR  EXEMPTION  LAWS OF ANY  STATE  NOW IN               FORCE  OR  HEREAFTER  ENACTED.  BORROWER  ACKNOWLEDGES  AND  AGREES               THAT,  PURSUANT  TO  THE  FOREGOING  POWER  TO  CONFESS  JUDGMENT  GRANTED               TO LENDER, BORROWER IS VOLUNTARILY AND KNOWINGLY WAIVING ITS RIGHT TO               NOTICE  AND  A  HEARING  PRIOR  TO  THE  ENTRY  OF  A  JUDGMENT  BY  LENDER               AGAINST  BORROWER.  NO  SINGLE  EXERCISE  OF  THE  FOREGOING  POWER  TO               CONFESS  JUDGMENT,  OR  A  SERIES  OF  JUDGMENTS,  SHALL  BE  DEEMED  TO               EXHAUST THE POWER, WHETHER OR NOT ANY SUCH EXERCISE SHALL BE HELD BY               ANY COURT TO BE INVALID, VOIDABLE, OR VOID, BUT THE POWER SHALL CONTINUE               UNDIMINISHED  AND  IT  MAY  BE  EXERCISED  FROM  TIME  TO  TIME  AS  OFTEN  AS 

 

      LENDER  SHALL  ELECT  UNTIL  SUCH  TIME  AS  LENDER  SHALL  HAVE  RECEIVED        PAYMENT UNTIL ALL AMOUNTS OWING ON THIS NOTE HAVE BEEN PAID IN FULL.   C.                                                                              Oral  or  unexecuted  agreements  or  commitments  to  loan  money,  extend  credit  or  to        forbear from enforcing repayment of a debt including promises to extend or renew such        debt are not enforceable, regardless of the legal theory upon which it is based that is in        any way related to the credit agreement. To protect you (Borrowers(s)) and us (Creditor)        from  misunderstanding  or  disappointment,  any  agreements  we  reach  covering  such        matters are contained in this writing, which is the complete and exclusive statement of        the agreement between us, except as we may later agree in writing to modify it.   D.                                                                             UNDER  OREGON  LAW,  MOST  AGREEMENTS,  PROMISES  AND  COMMITMENTS  MADE        BY [BENEFICIARY]/US CONCERNING LOANS AND OTHER CREDIT EXTENSIONS WHICH        ARE  NOT  FOR  PERSONAL,  FAMILY,  OR  HOUSEHOLD  PURPOSES  OR  SECURED        SOLELY  BY  GRANTOR'S/BORROWER'S  RESIDENCE  MUST  BE  IN  WRITING,  EXPRESS        CONSIDERATION  AND  BE  SIGNED  BY  [AN  AUTHORIZED  REPRESENTATIVE  OF        BENEFICIARY]/US TO BE ENFORCEABLE.   E. If Borro                                                                         CONFESSION OF JUDGMENT. BORROWER HEREBY IRREVOCABLY AUTHORIZES AND        EMPOWERS ANY ATTORNEY OR THE PROTHONOTARY OR CLERK OF ANY COURT IN        THE  COMMONWEALTH  OF  PENNSYLVANIA,  OR  ELSEWHERE,  TO  APPEAR  AT  ANY        TIME FOR BORROWER AFTER A DEFAULT UNDER THIS NOTE AND WITH OR WITHOUT        COMPLAINT FILED, CONFESS OR ENTER JUDGMENT AGAINST BORROWER FOR THE        ENTIRE  PRINCIPAL  BALANCE  OF  THIS  NOTE  AND  ALL  ACCRUED  INTEREST,  ON        WHICH  JUDGMENT  OR  JUDGMENTS  ONE  OR  MORE  EXECUTIONS  MAY  ISSUE        IMMEDIATELY; AND FOR SO DOING, THIS NOTE OR A COPY OF THIS NOTE VERIFIED        BY AFFIDAVIT SHALL BE SUFFICIENT WARRANT. THE  AUTHORITY GRANTED IN THIS        NOTE TO CONFESS JUDGMENT AGAINST BORROWER SHALL NOT BE EXHAUSTED BY        ANY  EXERCISE  OF  THAT  AUTHORITY,  BUT  SHALL  CONTINUE  FROM  TIME  TO  TIME        AND  AT  ALL  TIMES  UNTIL  PAYMENT  IN  FULL  OF  ALL  AMOUNTS  DUE  UNDER  THIS        NOTE. BORROWER HEREBY WAIVES  ANY  RIGHT BORROWER MAY HAVE TO NOTICE        OR  TO  A  HEARING  IN  CONNECTION  WITH  ANY  SUCH  CONFESSION  OF  JUDGMENT        AND STATES THAT EITHER  A REPRESENTATIVE OF LENDER SPECIFICALLY  CALLED        THIS  CONFESSION  OF  JUDGMENT  PROVISION  TO  BORROWER'S  ATTENTION  OR        BORROWER HAS BEEN REPRESENTED BY INDEPENDENT LEGAL COUNSEL.  F.                                     Virginia, the following provision applies:        Upon  any  default  under  this  Note  Borrower  authorizes  the  clerk  of  any  court  and  any        attorney admitted to practice before any court of record in the United States, on behalf of        Borrower, to  then confess judgment  against the Borrower in  favor of Lender in the full        amount due on this Note. For the purpose of allowing the Lender to file a confession of        judgment  in  the  Commonwealth  of  Virginia,  the  Borrower  hereby  duly  constitutes  and        appoints , its true and lawful attorney-in-fact, to confess judgment against it in any court        of  record  in  the  Commonwealth  of  Virginia,  and  Borrower  further  consents  to  the        jurisdiction of and agrees that venue shall be proper in the Circuit Court of any county or        city  of  the  Commonwealth  of  Virginia  and/or  in  any  other  court  of  record  in  the        Commonwealth of Virginia. Borrower waives all errors, defects and imperfections in the 

 

             entry of judgment as aforesaid or in any proceeding pursuant thereto and the benefit of               any  and  every  statute,  ordinance  or  rule  of  court  which  may  be  lawfully  waived               conferring  upon  Borrower  any  right  or  privilege  of  exemption,  stay  of  execution,  or               supplementary  proceedings,  or  other  relief  from  the  enforcement  or  immediate               enforcement  of  a  judgment  or  related  proceedings  on  a  judgment.  The  authority  and               power to appear for and to enter judgment against Borrower shall not be extinguished by               any judgment entered pursuant thereto; such authority and power may be exercised on               one or more occasions from time to time, in the same or different courts or jurisdictions,               as often as Lender shall deem necessary or advisable until all sums due under this Note               have been paid in full.         G.                                                                                        Oral  agreements  or  oral  commitments to  loan  money,  extend  credit,  or to  forbear  from               enforcing repayment of a debt are not enforceable under Washington law.         H. If Borrower is an individual residing in Wisconsin, the following provision applies:               Each Borrower who is married represents that this obligation is incurred in the interest of his or               her marriage or family.   13.   ARBITRATION CLAUSE:         Borrower agrees to the Arbitration Clause attached as Exhibit A. Lender also agrees to the Arbitration         Clause.   14.                            IGNATURE:         By signing below, each individual or entity becomes obligated under this Note as Borrower.                  BORROWER:    Unique Fabricating, Inc                            _______________________________________         Brian Loftus, Authorized Signer 

 

                                                                          ARBITRATION CLAUSE (EXHIBIT A).                                                                              put  this  Clause  in  question and answer form to make it easier to understand. However, this Clause is part of this Agreement and  is legally binding                     .                                                                    Short    Question.                                        Further Detail.                  Answer.                                    Background and Scope.  What is       An  arbitration?  alternative less formal than a court case.                  to a court                case.    Is it different Yes.      The hearing is private. There is no jury. It is usually less formal, faster and  from court                less expensive than a lawsuit. Pre- and jury                  limited. Appeals are limited. Courts rarely overturn arbitration awards.   trials?    What is this  The parties' You and we agree that any party may elect to arbitrate or require arbitration of  Clause        agreement   any "Claim" as defined below.   about?        to arbitrate                Claims.   Who does the  You and us, This Clause governs you and us, including our "Related Parties": (1) any  Clause        including   parent, subsidiary or affiliate of ours; (2) our employees, directors, officers,  cover?        certain     shareholders, members and representatives; and (3) any person or company                "Related    (but not the SBA) that is involved in a Claim you pursue at the same time you                Parties".   pursue a related Claim with us.    What Claims   All Claims  does the      (except     are between you and  Clause        certain     reasonable meaning. It includes contract and tort (including intentional tort)                            claims and claims under constitutions, statutes, ordinances, rules and  cover?        Claims                about this  regulations. It includes all claims even indirectly related to your application                Clause).    and/or supplemental application for the Loan, this Note, the Loan or our                            relationship with you. It includes claims related to any decisions we have                            made or subsequently make concerning your Loan, including decisions                            regarding the Loan forgiveness to which you are or are not entitled. It                            includes claims related to collections, privacy and customer information. It                            includes claims related to the validity in general of this Note. However, it                            does not include disputes about the validity, coverage or scope of this                            Clause or any part of this Clause. All such disputes are for a court and                            not the TPA to decide.    Who handles   Usually     Arbitrations are conducted under this Clause and the rules of the arbitration  the           AAA or      administrator in effect at the time the arbitration is commenced. However,  arbitration?  JAMS.       arbitration rules that conflict with this Clause do not apply. The arbitration                            administrator will be either:                                The American Arbitration Association ("AAA"), 1633 Broadway, 10th                               Floor, New York, NY 10019, www.adr.org.                               JAMS, 620 Eighth Avenue, 34th Floor, New York, NY 10018,                                                                                                 12 

 

                 Short    Question.                                        Further Detail.                 Answer.                               www.jamsadr.org                               Any other company picked by agreement of the parties.                             If all the above options are unavailable, a court will pick the administrator. No                            arbitration brought on a class basis may be administered without our                            consent by any administrator that would permit class arbitration under                            this Clause.                               The TPA will be selected under the administrator's rules. However, the TPA                            must be a lawyer with at least ten years of experience or a retired judge                            unless you and we otherwise agree.  Can Claims    Sometimes.  Either party may bring a lawsuit if the other party does not demand  be brought in             arbitration. We will not demand arbitration of any lawsuit you bring as an  court?                    individual action in small claims court. However, we may demand arbitration                            of any appeal of a small-claims decision or any small-claims action brought                            on a class basis.   Are you       Yes.        For Claims subject to this Clause, you give up your right to:   giving up any  rights?                    1. Have juries decide Claims.                             2. Have courts, other than small-claims courts, decide Claims.                             3. Serve as a private attorney general or in a representative capacity.                             4. Join a Claim you have with a dispute by other consumers.                             5. Bring or be a class member in a class action or class arbitration.                             We also give up the right to a jury trial and to have courts decide Claims                            you wish to arbitrate.   Can you or    No.         The TPA is not allowed to handle any Claim on a class or representative  another                   basis. All Claims subject to this Clause must be decided in an individual  business                  arbitration or an individual small-claims action. This Clause will be void if a  start class               court rules that the TPA can decide a Claim on a class basis and the court's  arbitration?              ruling is not reversed on appeal.    What          It depends.  If any portion of this Clause cannot be enforced, the rest of this Clause will  happens if                continue to apply, except that:   part of this  Clause                          If a court rules that the TPA can decide a Claim on a class or other  cannot be                 representative basis and the court's ruling is not reversed on appeal, only this                            sentence will apply and the remainder of this Clause will be void. AND  enforced?                                   If a party brings a Claim seeking public injunctive relief and a court                            determines that the restrictions in this Clause prohibiting the TPA from                            awarding relief on behalf of third parties are unenforceable with respect to                            such Claim (and that determination becomes final after all appeals have been                            exhausted), the Claim for public injunctive relief will be determined in court                            and any individual Claims seeking monetary relief will be arbitrated. In such a                            case the parties agree to request that the court stay the Claim for public                            injunctive relief until the arbitration award pertaining to individual relief has                            been entered in court.                             In no event will a Claim for class relief or public injunctive relief be 

 

                 Short    Question.                                        Further Detail.                 Answer.                            arbitrated.     What law      The Federal This Agreement and related sale involve interstate commerce. Thus, the FAA  applies?      Arbitration governs this Clause. The TPA must apply substantive law consistent with the                Act         FAA. The TPA must honor statutes of limitation and privilege rights. Punitive                            damages are governed by the constitutional standards that apply in judicial                            proceedings.    Will anything No.         This Clause stays in force even if you: (1) cancel this Note; (2) default, renew,  I do make this            prepay or pay the Loan in full; or (3) go into or through bankruptcy.    Clause  ineffective?                                             Process.  What must a   Send a      Before starting a lawsuit or arbitration, the complaining party must give the  party do      written     other party written notice of the Claim. The notice must explain in reasonable  before        Claim       detail the nature of the Claim and any supporting facts. If you are the  starting a    notice and  complaining party, you must send the notice in writing (and not electronically)  lawsuit or    work to     to our Legal Department, at our normal notice address. You or an attorney  arbitration?  resolve the you have personally hired must sign the notice and must provide your full                Claim.      name and a phone number where you (or your attorney) can be reached.                            Once a Claim notice is sent, the complaining party must give the other party a                            reasonable opportunity over the next 30 days to resolve the Claim on an                            individual basis.   How does      Mailing a   If the parties do not reach an agreement to resolve the Claim within 30 days  arbitration   notice.     after notice of the Claim is received, the complaining party may commence a  start?                    lawsuit or arbitration, subject to the terms of this Clause. To start arbitration,                            the complaining party picks the administrator and follows the administrator's                            rules. If one party begins or threatens a lawsuit, the other party can demand                            arbitration. This demand can be made in court papers. It can be made if a                            party begins a lawsuit on an individual basis and then tries to pursue a class                            action. Once an arbitration demand is made, no lawsuit may be brought and                            any existing lawsuit must stop.   Will any      Yes.        The TPA may decide that an in-person hearing is unnecessary and that he or  hearing be                she can resolve a Claim based on written filings and/or a conference call.  held nearby?              However, any in-person arbitration hearing must be held at a place                            reasonably convenient to you.    What about    Very        Appeal rights under the FAA are very limited. Except for FAA appeal rights  appeals?      limited.    and except for Claims involving more than $50,000 (including Claims                            involving requests for injunctive relief that could cost more than $50,000), the                            TPA's award will be final and binding. For Claims involving more than                            $50,000, any party may appeal the award to a three-TPA panel appointed by                            the administrator, which will reconsider from the start anything in the initial                            award that is appealed. The panel's decision will be final and binding, except                            for any FAA appeal right. Any appropriate court may enter judgment upon the                            TPA's award.   

 

                  Short     Question.                                        Further Detail.                  Answer.   Do arbitration No.        No arbitration award involving the parties will have any impact as to issues or   awards affect             claims in any dispute involving anyone who is not a party to the arbitration,   other                     nor will an arbitration award in prior disputes involving other parties have any   disputes?                 impact in an arbitration between the parties to this Clause.                                      Arbitration Fees and Awards.   Who bears     Usually, we   arbitration   do.         faith, cannot get a waiver of such fees and ask us to pay.     fees?     When will we  If you win.  If you win an arbitration, we will pay your reasonable fees and costs for   cover your                attorneys, experts and witnesses. We will also pay these amounts if required   legal fees and            under applicable law or the administrator's rules or if payment is required to   costs?                    enforce this Clause. The TPA shall not limit his or her award of these                             amounts because your Claim is for a small amount.    Will you ever Only for    The TPA can require you to pay our fees if (and only if): (1) the TPA finds   owe us for    bad faith.  that you have acted in bad faith (as measured by the standards set forth in   arbitration or            Federal Rule of Civil Procedure 11(b)); and (2) this power does not make this   attorneys'                Clause invalid.    fees?     Can an award   Yes.       A party may request details from the TPA, within 14 days of the ruling. Upon   be                        such request, the TPA will explain the ruling in writing.    explained?    By signing below, we agree to this Arbitration Clause.   LENDER: CITIZENS BANK, N.A.                                          Shannon L Moniz   Vice President    Loan Operations Manager           

 

                                                                                        AUTHORIZATION                          (SBA Paycheck Protection Program Express Loan)          SBA Loan# 832678711                   U.S. Small Business Administration  Lender:  LITTLE ROCK COMMERCIAL              Citizens Bank N.A.  LOAN SERVICING CENTER  OFFICE OF FINANCIAL  PROGRAM OPERATIONS  2120 Riverfront Drive               1 Citizens Plaza  Little Rock, AR 72202               Providence, RI 02903   Lender is issuing this SBA Paycheck Protection Program Express Loan Authorization for SBA to  guarantee 100% of a loan in the amount of $5,998,700.00 to be made by Lender to assist:   Borrower:  Unique Fabricating, Inc, 800 S800 Standard Parkway,  Auburn Hills  MI 48326   Lender must have a valid SBA Loan Guarantee Agreement (SBA Form 750 and a valid SBA Express  Supplemental Loan Guaranty Agreement (SBA Form 2424).   between Lender and SBA for an SBA Express Loan and the Paycheck Protection Program created by the  Coronavirus Aid, Rel                                                                       Lender must comply with all SBA Loan Program Requirements, as defined in 13 CFR 120.10, all of which  may be amended from time to time.   This Authorization is subject to the application (including SBA Form 2483) submitted by Borrower to the                                                                                   15.    Lender must make complete disbursement of the loan no later than 24 months from the date of         this Authorization.    16.    The SBA Guarantee Fee is $0.   17.    Lender must have Borrower execute a Note containing the following repayment terms:         A.     At the request of the Borrower and on receipt of information and documentation as                 required by the SBA, Lender will forgive repayment of such portion of the Loan, and                 interest thereon, as and to the extent required by the CARES Act for loans under the                 Program. The amount of forgiveness shall not exceed the principal amount of this Note.         B.     At any time as requested by the Lender, but not later than 90 days after Borrower                 receives funds pursuant to this Note, Borrower will provide Lender with information, in                 form and substance acceptable to Lender, specifying the amount of forgiveness Borrower                 requests, together with all documentation required by the CARES Act, the SBA and/or                 Lender to evidence and/or verify the information in such report. Required information                 shall include, without limitation, (i) the number of full-time equivalent employees of                 Borrower and the dollar amount of payroll costs during all relevant periods (including the                 Forgiveness Period), as well as (ii) the dollar amounts of covered mortgage interest                                                                                                                          16 

 

               payments, covered rent payments and covered utilities for the Forgiveness Period to the                 extent Borrower seeks forgiveness for these costs.         C.     To the extent the Loan is not forgiven, the outstanding balance of the Loan, and interest                 thereon, shall be repaid in eighteen substantially equal monthly payments of principal and                 interest, commencing six (6) months after the date of this Loan and ending two (2) years                 after the date of this Loan. Borrower hereby authorizes Lender to initiate payments from                  required hereunder. In the event any such payment is unsuccessful, Borrower shall                 remain liable for such payment and shall take all steps required to make such payment.         D.     Interest will be calculated based upon actual days over a 365-day year.                    18.    Lender must develop and maintain evidence of a system or process to reasonably ensure that         loan proceeds were used for the following eligible business purposes: (I) payroll costs; (II) costs         related to the continuation of group health care benefits during periods of paid sick, medical, or         family leave, and insurance premiums; (III) employee salaries, commissions, or similar         compensations; (IV) payments of interest on any mortgage obligation (which shall not include any         prepayment of or payment of principal on a mortgage obligation); (V) rent (including rent under a         lease agreement); (VI) utilities; and (VII) interest on any other debt obligations that were incurred         before February 15, 2020.    19.    Lender must satisfy the following collateral conditions:  None  LENDER                                                                                                                      Date:  4/17/2020  By:                                        Shannon L Moniz         Vice President         Loan Operations ManagerExhibit

SEVENTH AMENDMENT TO CREDIT AGREEMENT 

THIS SEVENTH AMENDMENT TO CREDIT AGREEMENT (“Amendment”) is executed as of April 23, 2020, by and between the financial institutions signatory hereto (individually a “Lender,” and collectively the “Lenders”), CITIZENS BANK, NATIONAL ASSOCIATION, a national banking association, as Administrative Agent for the Lenders (in such capacity, the “Agent”), UNIQUE FABRICATING NA, INC., a Delaware corporation (“US Borrower”), and UNIQUE-INTASCO CANADA, INC., a corporation organized under the laws of the province of British Columbia (“CA Borrower”, called together with US Borrower, the “Borrowers” and each of them referred to herein as a “Borrower”).

RECITALS

WHEREAS, Borrowers, Agent and the Lenders are party to an Amended and Restated Credit Agreement dated November 8, 2018, as amended by a Waiver and First Amendment to Credit Agreement and Loan Documents dated May 7, 2019, a Second Amendment to Credit Agreement and Loan Documents dated June 14, 2019, a Third Amendment to Credit Agreement and Loan Documents dated June 28, 2019, a Waiver and Fourth Amendment to Credit Agreement and Loan Documents dated July 16, 2019 (the “Fourth Amendment”), a Fifth Amendment to Credit Agreement dated August 7, 2019, and a Sixth Amendment to Credit Agreement dated April 3, 2020 (as so amended, the “Credit Agreement”), providing terms and conditions governing certain loans and other credit accommodations extended and to be extended by the Lenders and/or Agent to Borrowers, together with various other documents, written agreements, certificates and instruments between Agent, Lenders, Borrowers and/or Guarantors in connection therewith. All of the foregoing, as amended or modified from time to time, are collectively referred to herein as the “Loan Documents”;

WHEREAS, each Borrower reaffirms, ratifies and confirms the Loan Documents and the Indebtedness as valid and binding. Each Borrower acknowledges that Agent and Lenders have duly performed all of their obligations under the Loan Documents; and

WHEREAS, due to the economic impact of coronavirus disease (also referred to as COVID-19), the Borrowers have requested that the Agent and Lenders agree, and the Agent and Lenders have agreed, to amend certain provisions of the Credit Agreement as set forth herein.

NOW, THEREFORE, IT IS HEREBY AGREED by Borrowers, Agent and Lenders, that the Credit Agreement is hereby amended as follows:

1.Defined Terms.  In this Amendment, capitalized terms used without separate definition shall have the meanings given them in the Credit Agreement.
2.Amendments to Credit Agreement.
(a)Definitions. The following definitions are hereby added to Section 1.1 of the Credit Agreement in appropriate alphabetical sequence, or to the extent they already appear therein, are hereby amended and restated in their entirety to read as follows:
“Base Rate” shall mean, for any day, that per annum rate of interest which is equal to the sum of the Applicable Margin plus the greater of (a) the Prime Rate for such day, (b) the Federal Funds Effective Rate in effect on such day, plus one percent (1.0%), and (c) 2%.  If the Agent shall have determined (which determination shall be conclusive absent clearly manifest error) that it is 

unable to ascertain the Federal Funds Effective Rate for any reason, including the inability or failure of the Agent to obtain sufficient quotations in accordance with the terms of the definition of the term Federal Funds Effective Rate, the Base Rate shall be determined without regard to clause (b) of the preceding sentence until the circumstances giving rise to such inability no longer exist.  Any change in the Base Rate due to a change in the Prime Rate or the Federal Funds Effective Rate shall be effective from and including the effective date of such change in the Prime Rate or the Federal Funds Effective Rate, respectively.
“CARES Act” shall mean the Coronavirus Aid, Relief, and Economic Security Act, as in effect on the Seventh Amendment Effective Date, together with all rules and regulations promulgated thereunder.
“Daily LIBOR Rate” shall mean, relative to any day, a per annum rate equal to the sum of the Applicable Margin plus the greater of (a) 1% and (b) the arithmetic average of the London Interbank Offered Rates administered by the ICE Benchmark Administration (or any Person that takes over administration of such rate) for deposits in Dollars for a one-month Eurodollar-Interest Period, commencing such day, which appear on the relevant Bloomberg page (or such other commercially available source providing quotations of the London Interbank Offered Rates for deposits in Dollars as may be designated by the Agent from time to time), at or about 11:00 am (London time) on such day. If such day is not a London Banking Day, the Daily LIBOR Rate shall be determined on the next preceding day which is a London Banking Day. If for any reason Agent cannot determine such offered rate or such rate is not available at such time for any reason, then the “Daily LIBOR Rate” for such period shall be the Interpolated Screen Rate, where applicable.  Each calculation by the Agent of the Daily LIBOR Rate hereunder shall be conclusive and binding on the parties hereto for all purposes, absent clearly manifest error.
“Eurodollar-based Rate” shall mean a per annum interest rate which is equal to the sum of the Applicable Margin, plus the greater of (a) 1% and (b) the quotient of:
(i)    the LIBOR Rate, divided by
(ii)    a percentage equal to 100% minus the maximum rate on such date at which Agent is required to maintain reserves on “Eurocurrency Liabilities” as defined in and pursuant to Regulation D of the Board of Governors of the Federal Reserve System or, if such regulation or definition is modified, and as long as Agent is required to maintain reserves against a category of liabilities which includes Eurocurrency deposits or includes a category of assets which includes Eurocurrency loans, the rate at which such reserves are required to be maintained on such category, such sum to be rounded upward, if necessary, in the discretion of the Agent, to the seventh decimal place.
“PPP” is as defined in Section 7.2(k) of the Credit Agreement.
“PPP Exclusion Period” shall mean the period commencing on the date on which the PPP Loan has been extended until the earlier to occur of (i) the 6-month anniversary of such date, and (ii) the date on which a final determination by the lender of the PPP Loan has been made and, to the extent required, the Small Business Administration, regarding the amount of PPP Loan that will be forgiven pursuant to the CARES Act.  
“PPP Loan” is as defined in Section 7.2(k) of the Credit Agreement.

“PPP Loan Documents” is as defined in Section 7.2(k) of the Credit Agreement.
“Seventh Amendment” shall mean that certain Seventh Amendment to Credit Agreement dated April 23, 2020, between Borrowers, Agent and Lenders.
“Seventh Amendment Effective Date” is as defined in the Seventh Amendment.
(b)Payment Relief.
(i)Deferral of Principal Payments of Amortizing Loans.  Section 3.4 of the Credit Agreement is hereby amended by inserting the following at the end of such Section:
“Notwithstanding anything contained herein to the contrary, the Borrowers shall not be required to make the principal payments scheduled for the June 30, 2020 Quarterly Payment Date in respect of the Amortizing Loans (the “Deferred Amortizing Loan Payments”).  The Borrowers shall continue to make payments of accrued interest in respect of each Amortizing Loan on each applicable Quarterly Payment Date, including the June 30, 2020 Quarterly Payment Date.  Borrowers acknowledge that deferment of the Deferred Amortizing Loan Payments may result in more interest being paid over the term of the Amortizing Loans than would be due if these payments had not been deferred. The Deferred Amortizing Loan Payments shall be due and payable in full on the CA Term Loan Maturity Date or the US Term Loan Maturity Date, as applicable.   Except as expressly provided herein, Agent and the Lenders do not waive or forgive the payment of any amount payable under the Loan Documents, whether as a result of a prepayment or otherwise.”
(ii)  Deferral of Principal Payment of CAPEX Loan.  Section 3A.6 of the Credit Agreement is hereby amended by inserting the following at the end of such Section:
“Notwithstanding anything contained herein to the contrary, the US Borrower shall not be required to make the principal payment scheduled for the June 30, 2020 Quarterly Payment Date in respect of the CAPEX Loan (the “Deferred CAPEX Loan Payment”).  The US Borrower shall continue to make payments of accrued interest in respect of the CAPEX Loan on each applicable Quarterly Payment Date, including the June 30, 2020 Quarterly Payment Date.  US Borrower acknowledges that deferment of the Deferred CAPEX Loan Payment may result in more interest being paid over the term of the CAPEX Loan than would be due if these payments had not been deferred. The Deferred CAPEX Loan Payment shall be due and payable in full on the CAPEX Loan Maturity Date.   Except as expressly provided herein, Agent and the Lenders do not waive or forgive the payment of any amount payable under the Loan Documents, whether as a result of a prepayment or otherwise.”
(c)Weekly Cash Flow Projections.  Section 6.2 of the Credit Agreement is hereby amended by re-lettering clause (f) thereof as clause (g), and adding the following new clause (f) immediately following clause (e):
“(f)    On Monday of each week, with respect to the week ending on the immediately preceding Friday, commencing with the Seventh Amendment Effective Date through and including September 30, 2020, an updated 13-week cash flow projection of the US Borrower and its Subsidiaries; and”
(d)Suspension of Compliance with Financial Covenants.  Section 7.1 of the Credit Agreement is amended by waiving the requirement to comply with the financial covenants set forth in clauses (a), (b) and (d) of Section 7.1 solely for the fiscal quarter ending June 30, 2020.

(e)Application of Net Cash Proceeds from Sale of Indiana Property.  Notwithstanding anything to the contrary set forth in the Credit Agreement, including without limitation, Section 3.9, 100% of the Net Cash Proceeds received by any Credit Party from the sale of the real property commonly known as 1900 & 2000 N. New York Ave., Evansville, Indiana (the “Indiana Property”), shall be applied ratably to the Revolving Credit Advances then outstanding.  Such application shall not permanently reduce the Revolving Credit Aggregate Commitment.
(f)CARES Act - Paycheck Protection Program.  In order to permit the incurrence of certain indebtedness under the PPP and to address certain related matters, the Credit Agreement is further amended as follows:
(i)Permitted Indebtedness.  Section 7.2 of the Credit Agreement is hereby amended to remove “and” from the end of clause (i), replace the period at the end of clause (j) with “; and”, and add the following new clause (k) immediately following clause (j):
“(k)    additional indebtedness in the form of unsecured loans authorized pursuant to and in compliance with the CARES Act under the Paycheck Protection Program of the U.S. Small Business Administration (the “PPP”), in an aggregate amount not to exceed $6,000,000 (the “PPP Loan”); provided, the Borrowers shall provide Agent at least three Business Days’ written notice prior to entering into any such loan together with copies of the application and PPP Loan documentation (the “PPP Loan Documents”), which may not be modified without Agent’s prior written consent.  Except as expressly permitted hereunder with respect to the PPP Loan, the Borrowers and their Subsidiaries shall obtain Agent’s written consent prior to incurring any otherwise prohibited Debt pursuant to any loan programs under the CARES Act.”
(ii)Additional Covenants. The following new Section 6.17 is hereby added to the Credit Agreement, immediately following Section 6.16 thereof: 
“6.17    Compliance with CARES Act. 
“(a)     Comply in all respects with the requirements of the CARES Act and all rules and regulations promulgated thereunder with respect to the PPP Loan;
“(b)    Use the proceeds of the PPP Loan only for permitted purposes under the CARES Act; and
“(c)    Take all required actions under the CARES Act for the full forgiveness of the PPP Loan, including without limitation, applying for forgiveness of the maximum permitted portion of the PPP Loan in accordance with the terms of the CARES Act and the PPP Loan.  Borrowers shall provide Agent with a copy of such application for forgiveness and promptly upon its receipt, any written notice of forgiveness of all or any portion of the PPP Loan.”
(iii)No Prepayment of PPP Loan.  Notwithstanding anything to the contrary set forth in the PPP Loan Documents, the Credit Parties agree not to prepay the PPP Loan without Agent’s prior written consent.
(iv)Exclusion of PPP Loan.  Notwithstanding anything to the contrary set forth in the Credit Agreement and other Loan Documents, the principal and interest payments under the PPP Loan shall be disregarded in the calculation of the financial covenants set forth in Section 7.1 of the Credit Agreement, with respect to any calculation thereof that includes a date within the PPP Exclusion Period.

(v)Cross Default with PPP Loan.  Section 8.1 of the Credit Agreement is hereby amended to remove “or” from the end of clause (l), replace the period at the end of clause (m) with “; or”, and add the following new clause (n) immediately following clause (m):
“(n)    any default or defined Event of Default occurs under or with respect to the PPP Loan.”
3.Representations and Warranties; Effectiveness.  Each Borrower represents, warrants, and agrees that:
(a)This Amendment may be executed in as many counterparts as Agent, the Lenders and Borrowers deem convenient, and shall become effective upon (such date referred to as the “Seventh Amendment Effective Date”): (i) delivery to Agent of all executed counterparts hereto, and (ii) execution and delivery of such other documents and instruments as the Agent and Lenders may require in connection herewith, including without limitation the consent of the Guarantors in the form attached as Exhibit A, all in form and content satisfactory to Agent.
(b)Except as expressly modified in this Amendment, the representations, warranties, and covenants set forth in the Credit Agreement and in each Loan Document remain true and correct, continue to be satisfied in all respects, and are legal, valid and binding obligations, with the same force and effect as if entirely restated in this Amendment.
(c)When executed, this Amendment will be a duly authorized, legal, valid, and binding obligation of each Borrower enforceable in accordance with its terms.  The Credit Agreement, as amended by this Amendment, is ratified and confirmed and shall remain in full force and effect.
(d)Upon giving effect to this Amendment, no Default or Event of Default has occurred and is continuing under the Credit Agreement or any other Loan Document, and no event has occurred or condition exists that is or, with the giving of notice or lapse of time or both, would be such a Default or Event of Default.
4.No Waiver.  The Borrowers hereby acknowledge and agree that no delay or failure of the Agent or the Lenders in exercising any right, remedy, power or privilege under the Credit Agreement or the Loan Documents shall affect that right, remedy, power or privilege.  No delay or failure of the Agent or Lenders to demand strict adherence to the terms of the Credit Agreement or the other Loan Documents, shall be deemed to constitute a course of conduct inconsistent with the Agent’s and Lenders’ rights at any time, before or after the occurrence of any Event of Default, to prospectively demand strict adherence to the terms of the Credit Agreement and the other Loan Documents.
5.No Other Changes; Ratification.  Except as specifically provided in this Amendment, the terms and conditions of the Credit Agreement and Loan Documents remain unchanged and in full force and effect, and the parties hereto ratify and confirm such terms and conditions.  This Amendment shall not impair the rights, remedies, and security given in and by the Loan Documents. The terms of this Amendment shall control any conflict between its terms and those of the Credit Agreement. 
6.Waiver and Release of All Claims and Defenses.  Borrowers, Guarantors and their representatives, successors, assigns, agents, employees, officers, directors, members, managers and heirs hereby waive, relinquish, discharge and release Agent, Lenders and their successors, assigns, agents, employees and attorneys from all claims and defenses of every kind or nature, known or unknown, whether existing by virtue of state, federal, bankruptcy or non-bankruptcy federal law, by agreement or otherwise, against Agent or any Lender, whether previously or now existing or arising out of or relating to any transactions or dealings between Agent, Lenders, and Borrowers through the date of this Amendment with respect to the 

Indebtedness or otherwise, including without limitation, any affirmative defenses, counter-claims, set-offs, deductions or recoupments.
7.Successors and Assigns.  This Amendment shall inure to the benefit of and be binding upon the parties and their respective successors and assigns.
8.Other Modification.  This Amendment may be altered or modified only by written instrument duly executed by Borrowers, Agent and the Lenders. In executing this Amendment, Borrowers are not relying on any promise or commitment of Agent or the Lenders that is not in writing signed by Agent and the Lenders.
9.Governing Law.  The parties agree that the terms and provisions of this Amendment shall be governed by and construed in accordance with the internal laws of the State of Michigan, without regard to principles of conflicts of law.
10.No Defenses.  Borrowers acknowledge, confirm, and warrant to Agent and the Lenders that as of the date hereof Borrowers have absolutely no defenses, claims, rights of set-off, or counterclaims against Agent and/or the Lenders under, arising out of, or in connection with this Amendment, the Credit Agreement, the Loan Documents and/or the Indebtedness.
11.Expenses.  Borrowers shall promptly pay all out-of-pocket fees, costs, charges, expenses, and disbursements of Agent incurred in connection with the preparation, execution, and delivery of this Amendment, and the other documents contemplated by this Amendment.
12.WAIVER OF JURY TRIAL.  THE LENDERS, THE AGENT AND THE BORROWERS KNOWINGLY, VOLUNTARILY AND INTENTIONALLY WAIVE ANY RIGHT ANY OF THEM MAY HAVE TO A TRIAL BY JURY IN ANY LITIGATION BASED UPON OR ARISING OUT OF THIS AMENDMENT, THE CREDIT AGREEMENT OR ANY RELATED INSTRUMENT OR AGREEMENT OR ANY OF THE TRANSACTIONS CONTEMPLATED BY THIS AMENDMENT OR ANY COURSE OF CONDUCT, DEALING, STATEMENTS (WHETHER ORAL OR WRITTEN) OR ACTION OF ANY OF THEM. NEITHER THE LENDERS, THE AGENT NOR THE BORROWERS SHALL SEEK TO CONSOLIDATE, BY COUNTERCLAIM OR OTHERWISE, ANY SUCH ACTION IN WHICH A JURY TRIAL HAS BEEN WAIVED WITH ANY OTHER ACTION IN WHICH A JURY TRIAL CANNOT BE OR HAS NOT BEEN WAIVED. THESE PROVISIONS SHALL NOT BE DEEMED TO HAVE BEEN MODIFIED IN ANY RESPECT OR RELINQUISHED BY THE LENDERS AND THE AGENT OR THE BORROWERS, EXCEPT BY A WRITTEN INSTRUMENT EXECUTED BY ALL OF THEM.
[Signatures on following pages]

This Amendment is executed and delivered as of the date first entered above.
BORROWERS:
	
		
	UNIQUE FABRICATING NA, INC.,

	as US Borrower

	By:
	/s/ Byrd Douglas Cain III

	 
	Byrd Douglas Cain III

	Title:
	President

	
		
	UNIQUE-INTASCO CANADA, INC.,

	as CA Borrower

	By:
	/s/ Byrd Douglas Cain III

	 
	Byrd Douglas Cain III

	Title:
	President

SIGNATURES CONTINUE ON FOLLOWING PAGE

	
		
	CITIZENS BANK, NATIONAL ASSOCIATION,

	as Agent and Lender

	By:
	/s/ Michael Farley

	 
	Michael Farley

	Its:
	Senior Vice President

	
		
	COMERICA BANK,

	as Lender

	By:
	/s/ Paul G. Russo

	 
	Paul G. Russo

	Its:
	Vice President

	
		
	FLAGSTAR BANK, FSB,

	as Lender

	By:
	/s/ Kathryn Pothier-Hilt

	 
	Kathryn Pothier-Hilt

	Its:
	First Vice President

	
		
	KEYBANK NATIONAL ASSOCIATION,

	as Lender

	By:
	/s/ Michael Dolson

	 
	Michael Dolson

	Its:
	Senior Vice President

EXHIBIT A
ACKNOWLEDGMENT AND CONSENT

Each of the undersigned hereby: (i) acknowledges and consents to the execution, delivery and performance of that certain Seventh Amendment to Credit Agreement of even date herewith (the “Seventh Amendment”) between Unique Fabricating NA, Inc. and Unique-Intasco Canada, Inc., as “Borrowers”, Citizens Bank, National Association in its capacities as a “Lender” and “Agent”, Comerica Bank, in its capacity as a “Lender”, Flagstar Bank, FSB, in its capacity as a “Lender”, and KeyBank National Association, in its capacity as a “Lender”, executed in connection with the Amended and Restated Credit Agreement dated as of November 8, 2018 among Borrowers, Lenders and the Agent, as amended (the “Agreement”), (ii) agrees to and acknowledges the waiver and release in Section 6 of the Seventh Amendment, and (iii) ratifies and affirms its Continuing Agreement of Guaranty and Suretyship dated as of April 29, 2016 (as amended from time to time, the “Guaranty”), which Guaranty remains in full force and effect with respect to all Indebtedness (as defined in the Agreement and amended by the Seventh Amendment) and each of the other Loan Documents previously executed and delivered by it and/or Borrowers, as amended by the Seventh Amendment.

Executed as of the 23rd day of April, 2020.

UNIQUE FABRICATING NA, INC.
UNIQUE FABRICATING, INC.
UNIQUE-CHARDAN, INC.
UNIQUE MOLDED FOAM TECHNOLOGIES, INC.
UNIQUE-PRESCOTECH, INC.
UNIQUE FABRICATING REALTY, LLC
UNIQUE FABRICATING SOUTH, INC.
UNIQUE-INTASCO USA, INC.

	
		
	By:
	/s/ Byrd Douglas Cain III

	 
	Byrd Douglas Cain III

	Title:
	President of each of the above entities

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