SECURITY AGREEMENT (ALL ASSETS)Security Agreement • June 8th, 2007 • Vertical Branding, Inc. • Real estate
As of June 4, 2007 for value received, the undersigned Vertical Branding, Inc., a Delaware corporation ("Guarantor/Pledgor") grants to BFI Business Finance ("Lender") a California corporation, a continuing security interest in the Collateral (as defined below) to secure payment when due, whether by stated maturity, demand, acceleration or otherwise, of all existing and future indebtedness ("Indebtedness") to Lender of Adsouth Marketing, LLC, a Delaware limited liability company, WORLDWIDE EXCELLENCE, INC., a Delaware corporation, Pet Vac, LLC, a California limited liability company, TRAMP-O-LEAN, LLC, a California limited liability company, YOUTH FACTOR BEAUTY CARE, LLC, a California limited liability company, and LEGACY FORMULAS, LLC, a California limited liability company, (individually and collectively, "Borrower") and/or Guarantor/Pledgor. Indebtedness includes without limitation any and all obligations or liabilities of Borrower and/or Guarantor/Pledgor to Lender, whether absolute
GENERAL CONTINUING GUARANTYVertical Branding, Inc. • June 8th, 2007 • Real estate
For good and valuable consideration, and in order to induce BFI Business Finance, a California corporation ("Lender"), to extend and/or continue to extend financial accommodations to Adsouth Marketing, LLC, a Delaware limited liability company, WORLDWIDE EXCELLENCE, INC., a Delaware corporation, Pet Vac, LLC, a California limited liability company, TRAMP-O-LEAN, LLC, a California limited liability company, YOUTH FACTOR BEAUTY CARE, LLC, a California limited liability company, and LEGACY FORMULAS, LLC, a California limited liability company (individually and collectively "Borrower"), pursuant to the terms and conditions of that certain Loan and Security Agreement and/or promissory note (individually and collectively, the "Agreement"), dated June 4, 2007, evidencing and otherwise relating to a loan by Lender to Borrower in the original principal amount of Five Million and 00/100 Dollars ($5,000,000.00) (the "Loan"), or pursuant to any other present or future agreement between Lender and
LOAN AND SECURITY AGREEMENT (Accounts Receivable & Inventory Line of Credit)Loan and Security Agreement • June 8th, 2007 • Vertical Branding, Inc. • Real estate • California
This Loan and Security Agreement (Accounts Receivable & Inventory Line of Credit), is entered into as of June 4, 2007, by and between BFI Business Finance, a California corporation ("Lender"), with its headquarters' office located at 1655 The Alameda, San Jose, CA 95126 and Adsouth Marketing, LLC , a(n) Delaware limited liability company, WORLDWIDE EXCELLENCE, INC. a Delaware corporation, Pet Vac, LLC, a California limited liability company, TRAMP-O-LEAN, LLC, a California limited liability company, YOUTH FACTOR BEAUTY CARE, LLC, a California limited liability company, and LEGACY FORMULAS, LLC, a California limited liability company (individually and collectively, "Borrower") with its headquarters at its Chief Executive Office as defined herein.
