EXHIBIT 10.16 BB&T SECURITY AGREEMENT THIS SECURITY AGREEMENT ("Security Agreement") is made as of the September 1, 2004, by and between ABSORPTION CORP., a Nevada corporation (the "Borrower" or the "Debtor"), and BRANCH BANKING AND TRUST COMPANY, a...Security Agreement • September 9th, 2004 • International Absorbents Inc • Converted paper & paperboard prods (no contaners/boxes) • Georgia
BB&T GUARANTY AGREEMENTGuaranty Agreement • September 9th, 2004 • International Absorbents Inc • Converted paper & paperboard prods (no contaners/boxes) • Georgia
As an inducement to Branch Banking and Trust Company ("Bank") to extend credit to and to otherwise deal with ABSORPTION CORP ("Borrower") and, in consideration thereof, the undersigned (and each of the undersigned jointly and severally if more than one) hereby absolutely and unconditionally guarantees to bank and its successors and assigns the due and punctual payment of any and all notes, drafts, debts, obligations and liabilities, primary or secondary (whether by way of endorsement or otherwise), of Borrower, at any time, now or hereafter, incurred with or held by Bank, together with interest, as and when the same become due and payable, whether by acceleration or otherwise, in accordance with the terms of any such notes, drafts, debts, obligations or liabilities or agreements evidencing any such indebtedness, obligation or liability including all renewals, extensions and modifications thereof. The obligation of the undersigned is a guarantee of payment and not of collection.
EXHIBIT 10.18 LEASE AGREEMENTLease Agreement • September 9th, 2004 • International Absorbents Inc • Converted paper & paperboard prods (no contaners/boxes) • Georgia
EXHIBIT 10.14 Unless this bond is presented by an authorized representative of The Depository Trust Company ("DTC"), to the Issuer or its agent for registration of transfer, exchange, or payment and any bond issued is registered in the name of Cede &...International Absorbents Inc • September 9th, 2004 • Converted paper & paperboard prods (no contaners/boxes)
EXHIBIT 10.15 LETTER OF CREDIT AND REIMBURSEMENT AGREEMENT Dated as of September 1, 2004Credit and Reimbursement Agreement • September 9th, 2004 • International Absorbents Inc • Converted paper & paperboard prods (no contaners/boxes) • Georgia
