The Hickman& facility operates a temper mill and a cut-to-length line. In March 2021, the new stretcher leveler line was placed into service. The coil product segment also processes customer-owned coils on a fee basis.& & Shipments are made via unaffiliated truckers or by rail. & The coil segment purchases its inventory from a limited number of suppliers. The pipe finishing facility is currently idled due to market conditions. TTP's inventory consists of raw materials and finished goods. Sales personnel are paid on a salary and commission basis. & The Company's principal customers for these products are steel and pipe distributors. The Company sells substantially all of its tubular products through its own sales force. Competition & The Company is engaged in a non-seasonal, highly-competitive business. feet & Owned(1) & Offices& —& Coil Products & 2,500& sq.& Item& 7A.& & Quantitative and Qualitative Disclosures about Market Risk & Not required. & On May 24, 2021, the Company hired an additional degreed accountant. 6 & & & PART III & Item& 10.& & A copy of the Code is filed as an exhibit hereto. & 21.1 & — List of Subsidiaries. & & & & ** 101.PRE & — XBRL Presentation Linkbase Document. & ** No credit shall be given for fees paid due to early termination of any Letter of Credit. M.& & & & "Inventory" means as defined under the Uniform Commercial Code of Louisiana. & H.& & & & & Conflicting Agreements. 6.1 Representations and Warranties by the Borrower. 8.10 Recovery of Additional Costs. REMAINDER OF THIS PAGE INTENTIONALLY LEFT BLANK] & 13 & & 11. Per Annum" means for a year deemed to be comprised of 360 days. & " In no event shall the Alternate Rate be less than zero. & Authorization for Direct Payments (ACH Debits). This Note evidences the Borrower\'s obligation to repay those advances. Any reference to the Bank includes any holder of this Note. Such notices need not be given prior to the Bank\'s taking action. The Borrower ratifies and approves all acts of the Bank as attorney-in-fact. BORROWER REPRESENTATIONS AND WARRANTIES. EXECUTION AND DELIVERY BY THE BANK. This Amendment is a modification only and not a novation. This agreement has been duly executed and delivered by or on behalf of the Borrower. & Letters of Credit 46 SECTION 1.09.& & Divisions 46 ARTICLE II –& The Credits 46 SECTION 2.01.& & Swingline Loans and Overadvances. Funding of Borrowings 55 SECTION 2.08.& & Payments Generally; Allocation of Proceeds; Sharing of Set-offs 69 SECTION 2.19.& & Organization; Powers 74 SECTION 3.02.& & Compliance with Laws and Agreements; No Default 76 SECTION 3.08.& & No Burdensome Restrictions 78 SECTION 3.21.& & Financial Statements; Borrowing Base and Other Information 83 SECTION 5.02.& & Maintenance of Properties 89 SECTION 5.06.& & Investments, Loans, Advances, Guarantees and Acquisitions 95 SECTION 6.05.& & Asset Sales 96 SECTION 6.06.& & Amendment of Material Documents 98 SECTION 6.13.& & Acknowledgements of Lenders and Issuing Bank 107 SECTION 8.07. Collateral Matters 108 SECTION 8.08. Acknowledgement and Consent to Bail-In of EEA Financial Institutions 125 SECTION 9.20.& & Guaranty of Payment 129 SECTION 10.03.& & Successor Borrower Representative 132 SECTION 11.06.& & Beneficial Ownership Regulation" means 31 C.F.R. § 1010.230. & " Controlling" and "Controlled" have meanings correlative thereto. & " Information" has the meaning assigned to such term in Section 9.12. & " Loan Guaranty" means Article X
