On July 18, 2022, Cryo-Cell International, Inc. (the Company) entered into a Credit Agreement (Agreement) with Susser Bank as administrative agent (Susser) on behalf of itself and the other lenders (collectively, the Lenders) for (i) a revolving credit facility in an aggregate principal amount of up to $10,000,000 (the RCF); and (ii) a term loan facility in an original principal amount of $8,960,000 (the Term Loan and together with the RCF collectively, the Loans). In connection with the RCF the Company entered into a Revolving Credit Note, in favor of Susser, in the stated principal amount of $10,000,000 (the RCF Note), and in connection with the Term Loan the Company entered into a Term Note, in favor of Susser, in the stated principal amount of $8,960,000 (the Term Note and together with RCF Note, collectively, the Notes). The proceeds of the RCF, if drawn down, will be used by the Company for general working capital needs and possibly a Special Dividend and/or share repurchases.

The Loans bear interest at the Company's option at: (a) the Base Rate, which is the highest of (i) the rate of interest published by The Wall Street Journal, from time to time, as the “U.S. Prime Rate”, (ii) the federal funds rate plus 0.5% and (iii) the Monthly SOFR rate plus 1.0% (subject in each case to a floor of 5.5%), plus 4.25% or (b) the Monthly SOFR plus 3.25% (subject to a floor of 4.5%). The RCF Note matures on July 18, 2025 and the Term Note matures on July 18, 2032. The Company is required to pay a commitment fee equal to 0.5% times the daily average unused portion of the RCF.