LOAN AND SECURITY AGREEMENTLoan and Security Agreement • April 6th, 2021 • Blue Star Foods Corp. • Prepared fresh or frozen fish & seafoods • North Carolina
THIS LOAN AND SECURITY AGREEMENT, made and entered into this 31st day of March, 2021, by and among JOHN KEELER & CO. INC., a Florida corporation with its principal place of business at 3000 NW 109 Ave., Miami, FL 33172 (“JKCO”); and COASTAL PRIDE SEAFOOD, LLC, a Florida limited liability company with its principal place of business at 2201 Boundary Street, Suite 306, Beaufort, SC 29902 (“Coastal”, and together with JKCO, each a “Borrower”, and collectively, the “Borrowers”), and LIGHTHOUSE FINANCIAL CORP., a North Carolina corporation, with its principal place of business and mailing address at 925 West Market Street, Greensboro, North Carolina 27401 (hereinafter referred to as (“Lender”);
GUARANTY AGREEMENTGuaranty Agreement • April 6th, 2021 • Blue Star Foods Corp. • Prepared fresh or frozen fish & seafoods • North Carolina
THIS GUARANTY AGREEMENT (“Guaranty”), made and executed this 31st day of March, 2021, by BLUE STAR FOODS CORP., a Delaware corporation (the “Guarantor”), in favor of LIGHTHOUSE FINANCIAL CORP., a North Carolina corporation (the “Lender”);
REVOLVING CREDIT NOTEBlue Star Foods Corp. • April 6th, 2021 • Prepared fresh or frozen fish & seafoods
FOR VALUE RECEIVED, the undersigned JOHN KEELER & CO. INC., a Florida corporation (“JKCO”) and COASTAL PRIDE SEAFOOD, LLC, a Florida limited liability company(“Coastal” and together with JKCO, each a “Borrower” and collectively the “Borrowers”), do hereby promise to pay to the order of LIGHTHOUSE FINANCIAL CORP., a North Carolina corporation (“Lender”), and its successors and assigns, ON DEMAND, but, in no event later than the Termination Date (as hereinafter defined), at 925 West Market Street, Greensboro, North Carolina 27402, or at such other place as Lender may from time to time designate in writing, the principal sum of FIVE MILLION DOLLARS ($5,000,000), or, if less, the aggregate unpaid balance of all Revolving Loans (as hereinafter defined) made by Lender to Borrowers under the revolving line of credit pursuant to, and in accordance with the terms of, the Loan Agreement (as hereinafter defined), the provisions of which are hereby incorporated by reference, in lawful money of the
