Ocean Bio-Chem, Inc. – Business Loan Agreement (Asset Based) (March 31st, 2017)
THIS BUSINESS LOAN AGREEMENT (ASSET BASED) dated November 17, 2016, is made and executed between OCEAN BIG CHEM INC ("Borrower") and REGIONS 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.
Ocean Bio-Chem, Inc. – PROMISSORY NOTE Principal Loan Date Maturity Bank/App (March 31st, 2017)
Singing Machine Company – Contract (December 7th, 2004)
[LETTERHEAD OF THE SINGING MACHINE] July 13, 2004 To Maureen LaRoche Tel: 603-286-8791 Fax: 603-286-9548 SUBJECT: SMC WIRING INFORMATION Dear Maureen, Per Jay Bauer's instruction, I have attached the wiring instruction for loan of $200,000 to The Singing Machine Company Inc. (SMC) by investors identified by Jay Bauer. On behalf of SMC, we have agreed to pay 8.75% annual interest rate plus any expense associated with the transaction. We understand that this is a short term and SMC has agreed to repay the loan as soon as cash flow has improved or as an advance against the expected tax refund of $1.1MM from IRS. Please give us a call if there is any question. Best regards, /s/ Y.P. Chan /s/ Jeffrey Barocas Y.P. Chan Jeffery Barocas Interim CEO and COO CFO Total number of pages including cover: