Vicon Industries, a global producer of end-to-end security solutions, entered into an amended and restated credit agreement with NIL Funding, its secured lender.

Under the amended agreement, the company can borrow up to $4 million under a sub-line of credit that is not subject to a borrowing base formula and can borrow up to an additional $2 million to the extent it has sufficient eligible accounts receivable to support such borrowings.

Prior to the amendment, $4 million of the $6 million credit facility was subject to a borrowing base formula. The amended credit agreement also extends the maturity date of the credit facility to April 2, 2019, and reduces the company’s minimum tangible net worth requirement. In connection with the amended agreement, NIL Funding was issued a three-year warrant to purchase 1.5 million shares of Vicon common stock at a price of $.40 per share.

NIL Funding is an affiliate of The InterTech Group, headquartered in South Carolina.