SEC Contract Filing

Filing Date: 2018-11-13

Document Content:
<DOCUMENT>
<TYPE>EX-10.4
<SEQUENCE>5
<FILENAME>ex104_4.htm
<DESCRIPTION>EXHIBIT 10.4
<TEXT>
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<p align="right" style="text-align: right; margin: 0in 0in 0.0001pt; font-size: 11pt; font-family: 'Times New Roman', serif;"><b style="mso-bidi-font-weight: normal;">Exhibit 10.4</b></p>
<p align="right" style="margin: 0in 0in 6pt; text-align: right; line-height: 14pt; font-size: 11pt; font-family: 'Times New Roman', serif; font-weight: bold;"><font style="font-size: 12.0pt; font-family: 'Calibri','sans-serif'; mso-bidi-font-family: 'Times New Roman'; mso-font-kerning: 8.0pt;">&nbsp;</font></p>
<p style="margin: 0in 0in 6pt; line-height: 14pt; text-align: center; font-size: 11pt; font-family: 'Times New Roman', serif; font-weight: bold;"><font style="font-size: 12pt; font-family: 'times new roman', times;">GUARANTY AGREEMENT</font></p>
<p style="margin: 0in 0in 6pt; line-height: 14pt; text-align: justify; text-indent: 0.5in; font-size: 11pt; font-family: 'Times New Roman', serif;"><font style="font-size: 12pt; font-family: 'times new roman', times;">This Guaranty Agreement (as amended, amended and restated, supplemented or otherwise modified, renewed or replaced from time to time, this &#8220;<b style="mso-bidi-font-weight: normal;">Guaranty Agreement</b>&#8221;), dated as of November 9, 2018, is executed by ISA INDIANA REAL ESTATE, LLC, a Kentucky limited liability company (&#8220;<b style="mso-bidi-font-weight: normal;">ISA IN Real Estate</b>&#8221;), ISA LOGISTICS LLC, a Kentucky limited liability company (&#8220;<b style="mso-bidi-font-weight: normal;">ISA Logistics</b>&#8221;), ISA INDIANA, INC., an Indiana corporation (&#8220;<b style="mso-bidi-font-weight: normal;">ISA Indiana</b>&#8221;), ISA REAL ESTATE, LLC, a Kentucky limited liability company (&#8220;<b style="mso-bidi-font-weight: normal;">ISA Real Estate</b>&#8221;), 7021 GRADE LANE LLC, a Kentucky limited liability company (&#8220;<b style="mso-bidi-font-weight: normal;">7021 Grade Lane</b>&#8221; and, together with ISA IN Real Estate, ISA Logistics, ISA Indiana, and ISA Real Estate, individually and collectively, jointly and severally, the &#8220;<b style="mso-bidi-font-weight: normal;">Guarantor</b>&#8221;) in favor of BANK OF AMERICA, N.A. (&#8220;<b style="mso-bidi-font-weight: normal;">Lender</b>&#8221;).<font style="mso-spacerun: yes;">&nbsp; </font></font></p>
<p style="margin: 0in 0in 6pt; line-height: 14pt; text-align: center; font-size: 11pt; font-family: 'Times New Roman', serif; font-weight: bold;"><font style="font-size: 12pt; font-family: 'times new roman', times;">RECITALS</font></p>
<p style="margin: 0in 0in 6pt; line-height: 14pt; text-align: justify; text-indent: 0.5in; font-size: 11pt; font-family: 'Times New Roman', serif;"><font style="font-size: 12.0pt; font-family: 'Calibri','sans-serif'; mso-font-kerning: 8.0pt;"><font style="font-family: 'times new roman', times;">WHEREAS, pursuant to that certain Loan and Security Agreement dated as of the date hereof by and among INDUSTRIAL SERVICES OF AMERICA, INC. a Florida corporation (&#8220;<b style="mso-bidi-font-weight: normal;">ISA</b>&#8221;), <font style="mso-bidi-font-weight: bold; mso-bidi-font-style: italic;">7124 GRADE LANE LLC, a Kentucky limited liability company (&#8220;<b>7124 Grade Lane</b>&#8221;)</font><font style="mso-spacerun: yes;">&nbsp; </font>and <font style="mso-bidi-font-weight: bold; mso-bidi-font-style: italic;">7200 GRADE LANE LLC, a Kentucky limited liability company (&#8220;<b>7200 Grade Lane</b>&#8221;; and together with ISA, each individually a &#8220;<b>Borrower</b>&#8221; and collectively, the &#8220;<b>Borrowers</b>&#8221;)</font> and Lender (including all annexes, exhibits and schedules thereto, and as amended, amended and restated, supplemented and otherwise modified, renewed or replaced from time to time, the &#8220;<b style="mso-bidi-font-weight: normal;">Loan Agreement</b>&#8221;), Lender has agreed to make loans and other financial accommodations to Borrower; and</font></font></p>
<p style="margin: 0in 0in 6pt; line-height: 14pt; text-align: justify; text-indent: 0.5in; font-size: 11pt; font-family: 'Times New Roman', serif;"><font style="font-size: 12pt; font-family: 'times new roman', times;">WHEREAS, each Guarantor is an direct and/or indirect subsidiary or affiliate of Borrowers and, as a result thereof, Guarantor will benefit, directly or indirectly, from the credit facility and other financial accommodations provided to Borrower under the Loan Agreement; and</font></p>
<p style="margin: 0in 0in 6pt; line-height: 14pt; text-align: justify; text-indent: 0.5in; font-size: 11pt; font-family: 'Times New Roman', serif;"><font style="font-size: 12pt; font-family: 'times new roman', times;">WHEREAS, it is a condition to the effectiveness of the Loan Agreement that this Guaranty Agreement be executed and delivered by the parties hereto. </font></p>
<p style="margin: 0in 0in 6pt; line-height: 14pt; text-align: justify; text-indent: 0.5in; font-size: 11pt; font-family: 'Times New Roman', serif;"><font style="font-size: 12pt; font-family: 'times new roman', times;">NOW, THEREFORE, in consideration of the foregoing and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Guarantor hereby agrees for the benefit of Lender as follows:<b style="mso-bidi-font-weight: normal;"></b></font></p>
<p style="text-align: justify; text-indent: 0in; line-height: 14.0pt; mso-line-height-rule: exactly; mso-list: l0 level1 lfo1; tab-stops: .5in; margin: 0in 0in 6.0pt 0in;"><font style="font-family: 'times new roman', times;"><font style="font-size: 12pt;"><b style="mso-bidi-font-weight: normal;"><font style="text-decoration: none;"><font style="mso-list: Ignore;">1.<font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; line-height: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nb