BUSINESS LOAN AGREEMENT (ASSET BASED)Business Loan Agreement • December 1st, 2022 • FGI Industries Ltd. • Heating equip, except elec & warm air; & plumbing fixtures • New Jersey
THIS BUSINESS LOAN AGREEMENT (ASSET BASED) dated October 31, 2022, is made and executed between FGI Industries Inc. ("Borrower") and East West 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.
