OPERATING AGREEMENT OF ODORSTAR TECHNOLOGY, LLC a Florida Limited Liability Company (Adopted Effective as of May 4, 2010)Operating Agreement • March 31st, 2011 • Ocean Bio Chem Inc • Specialty cleaning, polishing and sanitation preparations • Florida
The undersigned Members of ODORSTAR TECHNOLOGY, LLC, a Florida limited liability company (“Company”), hereby adopt the following Limited Liability Company Agreement (“Agreement”) which shall govern and control the management and regulation of the affairs of the Company, effective as of May 4, 2010 (“Effective Date”).
BUSINESS LOAN AGREEMENT (ASSET BASED)Business Loan Agreement • March 31st, 2011 • Ocean Bio Chem Inc • Specialty cleaning, polishing and sanitation preparations • Alabama
THIS BUSINESS LOAN AGREEMENT (ASSET BASED) dated June 1, 2010, is made and executed between OCEAN BIO CHEM INC (“Borrower”) and REGIONS BANK (“Lender”) on the following terms and conditions. Borrower has received prior commercial loans from Lender or has applied to Lender for a commercial loan or loans or other financial accommodations, Including those which may be described on any exhibit or schedule attached to this Agreement. Borrower understands and agrees that: (A) In granting, renewing, or extending any Loan, Lender is relying upon Borrower’s representations, warranties, and agreements as set forth in this Agreement; (B) the granting, renewing, or extending of any Loan by Lender at all times shall be subject to Lender’s sole judgment and discretion; and (C) all such Loans shall be and remain subject to the terms and conditions of this Agreement.
