The tentative discussions between George Dodge and Mark Butler had been about a revolving, secured 90-day note not to exceed $465,000. The specific details of the loan had not been worked out, but Dodge had explained that the agreement would involve the standard covenants applying to such a loan. He cited as of illustrative provisions the requirement that restrictions on additional borrowing would be imposed, that net working capital would have to be maintained at an agreed level, that additional investments in fixed assets could be made only with prior approval of the bank, and that limitations would be placed on withdrawals of IS funds from the business by Butler. Interest would be set on a floating-rate basis at 2 percentage points above ted the prime rate(the rate paid by the bank's most creditadeworthy customers). Dodge indicated that the initial rate to be paid would be about 10.5% under conditions in effect in early 2011. Both men also understood that the Butler would sever his relationship with the Suburban 010 National Bank if he entered into a loan agreement with the Northrop National Bank.