REVOLVING CREDIT NOTERevolving Credit Note • August 21st, 2009 • General Environmental Management, Inc • Hazardous waste management
FOR VALUE RECEIVED, the undersigned, MTS ACQUISITION COMPANY, INC., a California corporation (the “Maker”), hereby promises to pay to GENERAL ENVIRONMENTAL MANAGEMENT, INC., a Delaware corporation (“GEM”), or registered assigns (hereinafter, collectively with GEM, referred to as the “Payee”), on December 31, 2010 (or sooner by reason of an Event of Default or other mandatory prepayment event in accordance with the Loan Agreement hereinafter described), the principal sum of Seven Hundred Thousand ($700,000) Dollars or, if less, the aggregate unpaid principal amount of all Advances made by the Payee to the Maker pursuant to that certain Revolving Credit Agreement of even date herewith by and between GEM and the Maker (as same may be amended, modified, supplemented and/or restated from time to time, the “Loan Agreement”), together with interest (computed as hereinafter provided) on any and all principal amounts outstanding hereunder from time to time from the date hereof until payment in
STOCK PURCHASE AGREEMENTStock Purchase Agreement • August 21st, 2009 • General Environmental Management, Inc • Hazardous waste management • California
This Stock Purchase Agreement (this “Agreement”) is entered into as of August 17, 2009 by and among MTS ACQUISITION COMPANY, INC., a California corporation (“Purchaser”), GENERAL ENVIRONMENTAL MANAGEMENT, INC., a Nevada corporation (“Parent Co.”), GENERAL ENVIRONMENTAL MANAGEMENT, INC., a Delaware corporation (“Seller”) and GEM MOBILE TREATMENT SERVICES, INC., a California corporation (the “Company”). Purchaser, Parent Co., Seller and the Company are referred to herein collectively as the “Parties” and each as a “Party.”
SUBORDINATED COLLATERAL AGREEMENTSubordinated Collateral Agreement • August 21st, 2009 • General Environmental Management, Inc • Hazardous waste management • California
SUBORDINATED COLLATERAL AGREEMENT, dated as of August 17, 2009, by and among GENERAL ENVIRONMENTAL MANAGEMENT, INC., a Nevada corporation (“GEM-NV”), GENERAL ENVIRONMENTAL MANAGEMENT, INC., a Delaware corporation (“GEM-DE”), GENERAL ENVIRONMENTAL MANAGEMENT OF RANCHO CORDOVA LLC, a California limited liability company (“GEMRC”), GEM 6 ACQUISITIONS CORPORATION, a Delaware corporation (“GEM 6”), ISLAND ENVIRONMENTAL SERVICES, INC., a California corporation (“Island”) and any and all Additional Grantors who may become a party to this Agreement from time to time (the Borrower, GEM-DE, GEMRC, GEM 6, Island and such Additional Grantors are each hereinafter referred to as a “Grantor” and collectively as the “Grantors”), and MTS ACQUISITION COMPANY, INC., a California corporation (the “Secured Party”).
REVOLVING CREDIT AGREEMENTRevolving Credit Agreement • August 21st, 2009 • General Environmental Management, Inc • Hazardous waste management
AGREEMENT (this “Agreement”) is made and entered into as of the 17th day of August, 2009, by and between GENERAL ENVIRONMENTAL MANAGEMENT, INC., a Delaware corporation (the “Lender”), and MTS ACQUISITION COMPANY, INC., a California corporation (the “Borrower”).
