acknowledgment and agreement dated : february 25, 2020 each of the undersigned has ( a ) guaranteed the payment and performance of all obligations of air t, inc., a delaware corporation ( the “ borrower ” ), to minnesota bank & trust, a minnesota state banking corporation ( the “ lender ” ), pursuant to the terms of an amended and restated guaranty dated as of march 28, 2019 ( the “ guaranty ” ) jointly and severally made by the undersigned in favor of the lender, which obligations include, without limitation, all “ obligations ” ( as defined in the original agreement described below ) of the borrower to the lender pursuant to that certain amended and restated credit agreement dated as of march 28, 2019 ( such credit agreement, as amended to date, being the “ original agreement ” ), between the borrower and the lender, and ( b ) granted a first priority security interest in its assets to the lender as collateral for such obligations pursuant to the terms of that certain amended and restated security agreement dated as of march 28, 2019 ( the “ security agreement ” ) each of the undersigned acknowledges that it has received a copy of the proposed amendment no. 3 to amended and restated credit agreement dated to be effective as of february 25, 2020 ( the “ amendment ” ) amending the original agreement. each of the undersigned ( a ) confirms that each of the guaranty and the security agreement remains in full force and effect, ( b ) agrees and acknowledges that the amendment shall not in any way impair or limit the rights of the lender under the guaranty or under the security agreement, and ( c ) hereby acknowledges and agrees that ( i ) pursuant to the guaranty, the guarantors jointly and severally guaranty the payment and performance of all obligations of the borrower to the lender, including, without limitation, all loans ( including, without limitation, the supplemental revolving credit loans ) now or hereafter made by the lender under the original agreement as amended by the credit agreement, and ( ii ) pursuant to the security agreement each of the undersigned continues to grant a security interest to the lender in the “ collateral ” covered thereby to secure all obligations of the borrower to the lender, including, without limitation, all loans now or hereafter made by the lender under