Merchants Bank, N.A. v. Stewart In-Fra-Red Commissary of Philadelphia Inc.

SHEPPARD, JR., J.,

This opinion is submitted relative to defendant’s appeal of this court’s January 13,1993, order denying defendant’s petition for reconsideration of the July 6, 1992, denial of liquidated damages.1 For the reasons stated, the order should be affirmed.

*236FACTUAL AND PROCEDURAL HISTORY

Merchant’s Bank, N.A. (plaintiff) provided financing to Colebrook Farms Inc.2 pursuant to a loan agreement executed in August 1987. The financing consisted of a $3.54 million term loan, and a $1.5 million line of credit. Under this agreement, plaintiff received a security interest in Colebrook’s…