BUSINESS LOAN AGREEMENT (ASSET BASED)Business Loan Agreement • November 14th, 2017 • Ocean Bio Chem Inc • Specialty cleaning, polishing and sanitation preparations
THIS BUSINESS LOAN AGREEMENT (ASSET BASED) dated August 31, 2017, 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.
August 31, 2017 Mr. Jeffrey Barocas Ocean Bio-Chem, Inc.Ocean Bio Chem Inc • November 14th, 2017 • Specialty cleaning, polishing and sanitation preparations
