Trademark Collateral Assignment and Security Agreement. dated April 26, 1988,executed by GEI in favor of Fidelcor. Schedule B Page 1 of 2 Unterminated Security Interests ------------------------------------------------------------------------------------------------------- Amendments Juris- Filing (Releases, Debtor Secured Party diction UCC # Date Collateral Assignments, etc.) ------------------------------------------------------------------------------------------------------- Phoenix Xxxxxxx-La N.Y. 390298 12/24/88 All Equipment Laboratories, Inc. Roche, Inc. S/S (now owned, X.X. Xxx 000 000 Xxxxxxxxx hereafter 000 Xxxxx Xxxxxx Street acquired) Woodmere, New York Nutley, N.J. 11598 07110 ------------------------------------------------------------------------------------------------------- Xxxxxxx Xxxx Xxxxxx X.X. 000000 11/10/86 2 Machines Laboratories, Inc. Trust Co. S/S 000 Xxxxxx Xxxx Industrial Debtor has no Hicksville, New York Finance Dept. power to sell 11801 00 Xxxxxxxx xx xxxxxxx xx Xxxxxxxxxx, xxxxxxxxxx XX 00000 ------------------------------------------------------------------------------------------------------- Phoenix Xxxxxxx-La Nassau 87-001408 1/16/87 All equipment Laboratories, Inc. Roche, Inc. County (now owned & X.X. Xxx 000 000 Xxxxxxxxx Clerk hereafter 000 Xxxxx Xxxxxx Street acquired.) Woodmere, New York Nutley, N.J. 11598 07110 ------------------------------------------------------------------------------------------------------- Phoenix Xxxxxxx-La Nassau 87-027548 11/25/87 All equipment Laboratories, Inc. Roche, Inc. County (now owned & X.X. Xxx 000 000 Xxxxxxxxx Clerk hereafter 000 Xxxxx Xxxxxx Street acquired.) Woodmere, New York Nutley, N.J. 11598 07110 ------------------------------------------------------------------------------------------------------- Phoenix Equilease Nassau 86-03044 12/19/86 Feild for Info. ASSIGNED TO: Laboratories, Inc. Corporation County Only. Textron Capital 000 Xxxxxx Xxxx 750 Third Clerk Property (not Corporation Hicksville, New York Avenue described) 0000 Xxxxxxxx Xxxxx Xxxxx 00000 Xxx Xxxx, XX Subject to Xxxxxxxxxx, Xxxxx Xxxxxx 00000 LEASE ------------------------------------------------------------------------------------------------------- ------------------------------------------------------------------------------------------------------- Schedule B Page 2 of 2 (Cont'd) ------------------------------------------------------------------------------------------------------- Amendments Juris- Filing (Releases, Debtor Secured Party diction UCC # Date Collateral Assignments, etc.) ------------------------------------------------------------------------------------------------------- Phoenix WASCO Funding Nassau 86-021181 8/25/86 MACHINE (3) ASSIGNED TO: Laboratories, Inc. Corporation County leased to Xxxxxx 000 Xxxxxx Xxxx 150 East 58th Clerk debtor who has Financial Corporation Hicksville, New Street no right to 0 Xxxxxxx Xxxxxx York 11801 New York, New sell or Xxxxxx Xxxxxxx, XX 00000 York 10155 dispose. -------------------------------------------------------------------------------------------------------- Phoenix L.I. Trust Co., Nassau 86-027280 11/18/86 2 MACHINE Laboratories, Inc. N.A. County 000 Xxxxxx Xxxx Industrial Clerk Hicksville, Xxx Xxxxxxx Xxxx. Xxxx 00000 00 Xxxxxxxx Xxxxxxxxxx, XX 00000 -------------------------------------------------------------------------------------------------------- Great Earth The Lease Factor, S/S 87-128909 5/28/87 Equipment Lease Distribution, Inc. Inc. Calif. 00000 Xxxxxxx Xxxxxx Xxx Xxxxxxxx Xx Xxxxxx, XX 00000 Building X.X. Xxx 00 Xxxxx Xxxxxxx Xxxxxxxxxxx, Xxxx. 00000 -------------------------------------------------------------------------------------------------------- Great Earth Pitney Xxxxx S/S 86-146811 6/11/86 Lease - re: Distribution, Inc. Credit Calif. Postal 00000 Xxxxxxx Xxxxxx Xxxxxxxxxxx Xxxxxxxxx Xx Xxxxxx, XX 00000 00000 Xxxxxxxxx Xxxx. Xxxxx 000 Xxxxxxxx, XX 00000 -------------------------------------------------------------------------------------------------------- Great Earth Pitney Xxxxx S/S 86146812 6/11/86 Lease - re: Distribution, Inc. Credit Calif. Postal 00000 Xxxxxxx Xxxxxx Xxxxxxxxxxx Xxxxxxxxx Xx Xxxxxx, XX 00000 00000 Xxxxxxxxx Xxxx. Xxxxx 000 Xxxxxxxx, XX 00000 --------------------------------------------------------------------------------------------------------
Appears in 2 contracts
Samples: Security Agreement (Evergood Products Corp), Security Agreement (Evergood Products Corp)
Trademark Collateral Assignment and Security Agreement. dated April 26, 1988,executed 1988, executed by GEI in favor of Fidelcor. Schedule SCHEDULE B Page 1 of 2 Unterminated Security Interests ------------------------------------------------------------------------------------------------------- Amendments Juris- Filing (Releases, Amendments Debtor Secured Party diction UCC # Date Collateral (Releases, Assignments, etc.) ------------------------------------------------------------------------------------------------------- Phoenix XxxxxxxLaboratories, Inc. Xxxxxxxx-La Xx Xxxxx, Inc. N.Y. S/S 390298 12/24/88 All Equipment Laboratories, Inc. Roche, Inc. S/S (now owned, X.X. Xxx 000 000 Xxxxxxxxx Xxxxxx owned, hereafter 000 Xxxxx Xxxxxx Street acquired) Woodmere, New York Nutley, N.J. 11598 07110 ------------------------------------------------------------------------------------------------------- Xxxxxxx acquired) Xxxxxxxx, Xxx Xxxx Xxxxxx X.X. 000000 00000 Phoenix Laboratories, Inc. Long Island Trust Co. N.Y. S/S 348550 11/10/86 2 Machines Laboratories, Inc. Trust Co. S/S 000 Xxxxxx Xxxx Industrial Finance Dept. 000 Xxxxx Xxxxxx 11 Broadway Debtor has no Hicksville, New York Finance Dept. power to sell 11801 00 Xxxxxxxx xx xxxxxxx xx Xxxxxxxxxx, xxxxxxxxxx Xxx Xxxx 00000 Xxxxxxxxxx, XX 00000 ------------------------------------------------------------------------------------------------------- sell or dispose of collateral Phoenix XxxxxxxLaboratories, Inc. Xxxxxxxx-La Xx Xxxxx, Inc. Nassau 87-001408 1/16/87 All equipment Laboratories, Inc. Roche, Inc. County (now owned & X.X. Xxx 000 000 Xxxxxxxxx Clerk hereafter Xxxxxx Xxxxxx --------- 000 Xxxxx Xxxxxx Street Nutley, N.J. 07110 Clerk owned & hereafter Xxxxxxxx, Xxx Xxxx 00000 acquired.) WoodmerePhoenix Laboratories, New York NutleyInc. Xxxxxxxx-Xx Xxxxx, N.J. 11598 07110 ------------------------------------------------------------------------------------------------------- Phoenix Xxxxxxx-La Inc. Nassau 87-027548 11/25/87 All equipment Laboratories, Inc. Roche, Inc. County (now owned & X.X. Xxx 000 000 Xxxxxxxxx Clerk hereafter Xxxxxx Xxxxxx --------- 000 Xxxxx Xxxxxx Street Nutley, N.J. 07110 Clerk owned & hereafter Xxxxxxxx, Xxx Xxxx 00000 acquired.) WoodmerePhoenix Laboratories, New York Nutley, N.J. 11598 07110 ------------------------------------------------------------------------------------------------------- Phoenix Inc. Equilease Corporation Nassau 86-03044 030440 12/19/86 Feild Filed for Info. ASSIGNED TO: Laboratories, Inc. Corporation County Only. Textron Capital Assigned to: 000 Xxxxxx Xxxx 750 Third Clerk Avenue County Property (not Corporation Hicksvilledescrib- ----------- Xxxxxxxxxx, New York Avenue described) 0000 Xxxxxxxx Xxxxx Xxxxx Xxx Xxxx 00000 Xxx Xxxx, XX Subject 00000 Clerk ed) subject to XxxxxxxxxxLease Textron Capitol Corp. ----- 1410 Hospital Trust Tower Providence, Xxxxx Xxxxxx 00000 LEASE ------------------------------------------------------------------------------------------------------- ------------------------------------------------------------------------------------------------------- Schedule Rhode Island SCHEDULE B Page 2 of 2 (Cont'd) ------------------------------------------------------------------------------------------------------- Amendments ---------------------------------------------------------------------------------------------------------------------------------- Juris- Filing (Releases, Amendments Debtor Secured Party diction UCC # Date Collateral (Releases, Assignments, etc.) ------------------------------------------------------------------------------------------------------- ----------------------- ------------------- -------- ------ ------- ------------ ----------------------------- Assigned to: Phoenix Laboratories, Inc. WASCO Funding Corp. Nassau 86-021181 8/25/86 MACHINE Machines (3) ASSIGNED TO: Laboratories, Inc. Corporation County leased to Xxxxxx ----------- 000 Xxxxxx Xxxx 150 East 58th - 000 X. 00xx Xxxxxx Xxxxxx -------- Xxxxxx Financial Corp. Xxxxxxxxxx, Xxx Xxxx 00000 Xxx Xxxx, Xxx Xxxx 00000 Clerk to debtor who has Financial Corporation Hicksville, New Street no right to 0 Xxxxxxx Xxxxxx York 11801 New York, New - right to sell or Xxxxxx Xxxxxxx, XX 00000 York 10155 dispose. -------------------------------------------------------------------------------------------------------- --------------------------------------------------------------------------------------------------------------------------------- Phoenix laboratories, Inc. L.I. Trust Co., N.A. Nassau 86-027280 11/18/86 2 MACHINE Laboratories, Inc. N.A. County Machines 000 Xxxxxx Xxxx Industrial Finance Dept. County -------- Xxxxxxxxxx, Xxx Xxxx 00000 11 Broadway Clerk debtor has no power to Hicksville, Xxx Xxxxxxx XxxxN.Y. 11801 sell or dispose. Xxxx 00000 00 Xxxxxxxx Xxxxxxxxxx, XX 00000 -------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------------------------- Great Earth Distribution, The Lease Factor, Inc. S/S 87-128909 5/28/87 Equipment Lease Distribution, Inc. Inc. The Beaumont Building Calif. Lease # 73351 00000 Xxxxxxx Xxxxxx X.X. Xxx Xxxxxxxx 00 Xx Xxxxxx, XX 00000 Building X.X. Xxx 00 Xxxxx Xxxxxxx XxxxxxxxxxxXxxxxxxxxx, Xxxx. 00000 -------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------------------------- Great Earth Distributions, Pitney Xxxxx Credit S/S 86-146811 6/11/86 Lease - re: Distribution, Inc. Credit Postal Corporation Corporation Calif. Postal Equipment 00000 Xxxxxxx Xxxxxx Xxxxxxxxxxx 00000 Xxxxxxxxx Xxxx. Xx Xxxxxx, XX 00000 00000 Xxxxxxxxx Xxxx. Xxxxx 000 Xxxxxxxx, XX 00000 -------------------------------------------------------------------------------------------------------- ----------------------------------------------------------------------------------------------------------------------------------- Great Earth Distribution, Pitney Xxxxx Credit S/S 86146812 6/11/86 Lease - re: Distribution, Postal Inc. Credit Corporation Calif. Postal Equipment 00000 Xxxxxxx Xxxxxx Xxxxxxxxxxx 00000 Xxxxxxxxx Xxxx. Xx Xxxxxx, XX 00000 00000 Xxxxxxxxx Xxxx. Xxxxx 000 Xxxxxxxx, XX 00000 ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ EIGHTH AMENDED AND RESTATED PROMISSORY NOTE $1,555,500 New York, New York August 30, 2000 FOR VALUE RECEIVED, PHOENIX LABORATORIES, INC., GREAT EARTH DISTRIBUTION, INC. and BODYONICS, LTD. (individually and collectively the "Payor"), jointly and severally hereby promise to pay to the order of THE CIT GROUP/BUSINESS CREDIT, INC., a New York corporation, successor by merger to The CIT Group/Credit Finance, Inc. ("Payee"), at its offices located at 0000 Xxxxxx xx xxx Xxxxxxxx, Xxx Xxxx, Xxx Xxxx 00000, or at such other place as Payee or any holder hereof may from time to time designate, the principal sum of ONE MILLION FIVE HUNDRED FIFTY FIVE THOUSAND FIVE HUNDRED DOLLARS ($1,555,500) in lawful money of the United States, in forty-seven installments of TWENTY THOUSAND DOLLARS ($20,000) each payable on the first (1st) day of each consecutive month, commencing October 1, 2000 and one (1) final installment in the amount of the entire unpaid principal balance of this Note, payable August 17, 2004. Payor hereby further promises to pay interest to Payee in like money at said office or place on the unpaid principal balance hereof, computed at the rate of one percent (1%) per annum plus the prime rate as announced by The Chase Manhattan Bank or its successor, in New York, New York from time to time as its prime rate (the prime rate is not intended to be the lowest rate of interest charged by The Chase Manhattan Bank to its borrowers) and such interest shall be payable monthly on the first (1st) day of each month, commencing September 1, 2000. Interest shall be calculated on the basis of a 360-day year and actual days elapsed. In no event shall the interest charged hereunder exceed the maximum permitted under the laws of the State of New York. This Note is secured by the collateral described in the Security Agreement (Accounts, Contract Rights, Instruments and Goods pertaining thereto), the Inventory Security Agreement and the Equipment Security Agreement, each executed February 17, 1988 by and between Payor and Fidelcor Business Credit Corporation ("Fidelcor"), assignor of Payee, and all related agreements, instruments (including but not limited to this Note) and documents granting collateral security to Payee or evidencing or creating indebtedness of Payor to Payee, all guaranties executed by third parties guaranteeing Payor's obligations to Payee, including those executed by: Xxxxxx Xxxx and Evergood Products Corporation (the "Guarantors") (the foregoing, as the same may now exist and have been and may hereafter be amended, modified, replaced or supplemented, are hereafter collectively referred to as the "Financing Agreements"). This Note supersedes and replaces but does not extinguish any of the unpaid liabilities and obligations under the Seventh Amended and Restated Promissory Note dated August 27,1998, in the original principal amount of $1,220,000 executed by Payor in favor of Payee (the "Existing Note"). The indebtedness of Payor to Payee evidenced hereby includes (i) an indebtedness of $780,000 representing the unpaid principal balance of the Existing Note; and (ii) an indebtedness of $775,500 representing an advance made by Payee to Payor on the date hereof, all of which shall be repayable together with interest accrued and accruing and other sums in accordance with the terms hereof. Payor hereby acknowledges that Payor is as of the date hereof indebted to Payee, in the principal amount hereof, together with interest accrued and accruing through and after the date hereof, without offset defense or counterclaim of any kind, nature or description whatsoever. The amendment and restatement contained herein shall not, in any manner be construed to constitute payment of, or impair, limit, cancel or extinguish the indebtedness evidenced by the Existing Note and the liens and security interests securing such indebtedness shall not in any manner be impaired, limited, terminated, waived or released hereby. At the time any payment is due hereunder, Payee may, at its option, charge the amount thereof to any account of Payor maintained by Payee. If an event of default shall occur for any reason under any of the Financing Agreements, or if any of the Financing Agreements shall be terminated or not be renewed for any reason whatsoever, then and in any such event, in addition to all rights and remedies of Payee under the Financing Agreements, applicable law or otherwise (all such rights and remedies being cumulative, not exclusive and enforceable alternatively, successively and concurrently) Payee may, at its option, declare any or all of Payor's obligations under the Financing Agreements, including, but not limited to, all amounts owing under this Note, to be due and payable, whereupon the then unpaid balance hereof together with all interest accrued thereon, shall forthwith become due and payable, together with costs and expenses of collection, including reasonable attorney's fees. Payee shall not be required to resort to any of the aforementioned collateral for payment, but may proceed against Payor and/or the Guarantors in such order and manner as Payee may choose. None of the rights of Payee shall be waived or diminished by any failure or delay in the exercise thereof. Payor hereby waives diligence, demand, presentment, protest and notice of any kind and assents to extensions of time of payment, release, surrender or substitution of collateral security, or forbearance or other indulgence, without notice. In the event of any litigation with respect to any of the Financing Agreements, Payor waives the right to a trial by jury, all rights of set-off, and any right to interpose permissive counterclaims and cross-claims, and Payor consents to the jurisdiction of the courts of the State of New York and of any federal court located in either New York or Nassau County in such State. Payor further waives personal service of any and all process upon Payor and consents that all such service of process may be made by certified mail, return receipt requested, directed to Payor at the address listed above or of which Payor advises Payee, in writing, and service so made shall be deemed complete three days after the same shall have been posted. This Note shall be governed by and construed, and all rights and obligations hereunder determined, in accordance with the laws of the State of New York, and shall be binding upon the successors and assigns of Payor and inure to the benefit of Payee, its successors, endorsees and assigns. If any term or provision of this Note shall be held invalid, illegal or unenforceable, the validity of all other terms and provisions hereof shall in no way be affected thereby. The execution and delivery of this Note has been authorized by the board of directors of Payor. PHOENIX LABORATORIES, INC. By: /s/ Xxxxxxx X. Xxxxx ------------------------------- Title: Executive Vice President ---------------------------- GREAT EARTH DISTRIBUTION, INC. By: /s/ Xxxxxxx X. Xxxxx ------------------------------- Title: Executive Vice President ---------------------------- BODYONICS, LTD. By: /s/ Xxxxxxx X. Xxxxx -------------------------------
Appears in 1 contract
Trademark Collateral Assignment and Security Agreement. dated April 26, 1988,executed 1988, executed by GEI GED in favor of Fidelcor. Schedule B Page 1 of 2 Unterminated Security Interests ------------------------------------------------------------------------------------------------------- Amendments ------------------------------------------------------------------------------------------------------------------------------------ Juris- Filing (Releases, Amendments Debtor Secured Party diction UCC # Date Collateral (Releases, Assignments, etc.) ------------------------------------------------------------------------------------------------------- ------------------------------------------------------------------------------------------------------------------------------------ Phoenix Laboratories, Inc. Xxxxxxx-La Xx Xxxxx, N.Y. S/S 390298 12/24/88 All Equipment Laboratories, Inc. Roche, Inc. S/S (now owned, X.X. Xxx 000 000 Xxxxxxxxx Inc. owned, hereafter 000 Xxxxx Xxxxxx Street acquired000 Xxxxxxxxx Xxxxxx xxxxxxxx) WoodmereXxxxxxxx, New York Xxx Xxxx 00000 Nutley, N.J. 11598 07110 ------------------------------------------------------------------------------------------------------- Xxxxxxx Xxxx Xxxxxx X.X. 000000 ------------------------------------------------------------------------------------------------------------------------------------ Phoenix Laboratories, Inc. Long Island Trust Co. N.Y. S/S 348550 11/10/86 2 Machines Laboratories, Inc. Trust Co. S/S 000 Xxxxxx Xxxx Industrial Debtor has no Finance Hicksville, New York Finance 11801 Dept. Debtor has no power 11 Broadway to sell 11801 00 Xxxxxxxx xx xxxxxxx xx or dispose Xxxxxxxxxx, xxxxxxxxxx XX 00000 ------------------------------------------------------------------------------------------------------- of collateral ------------------------------------------------------------------------------------------------------------------------------------ Phoenix Laboratories, Inc. Xxxxxxx-La Xx Xxxxx, Nassau 87-001408 1/16/87 All equipment Laboratories, Inc. Roche, Inc. County (now owned & X.X. Xxx 000 000 Xxxxxxxxx Clerk Inc. County owned & hereafter 000 Xxxxx Xxxxxx 340 Kingsland Street Clerk acquired.) WoodmereXxxxxxxx, New York Xxx Xxxx 00000 Nutley, N.J. 11598 07110 ------------------------------------------------------------------------------------------------------- ------------------------------------------------------------------------------------------------------------------------------------ Phoenix Laboratories, Inc. Xxxxxxx-La Xx Xxxxx, Nassau 87-027548 11/25/87 All equipment Laboratories, Inc. Roche, Inc. County (now owned & X.X. Xxx 000 000 Xxxxxxxxx Clerk Inc. County owned & hereafter 000 Xxxxx Xxxxxx 340 Kingsland Street Clerk acquired.) WoodmereXxxxxxxx, New York Xxx Xxxx 00000 Nutley, N.J. 11598 07110 ------------------------------------------------------------------------------------------------------- ------------------------------------------------------------------------------------------------------------------------------------ Phoenix Laboratories, Inc. Equilease Corporation Nassau 86-03044 030440 12/19/86 Feild for Info. ASSIGNED TOAssigned to: Laboratories, Inc. Corporation County Only. Textron Capital 000 Xxxxxx Xxxx 750 Third Clerk Avenue County Only. Property (not Corporation HicksvilleTextron Capital Xxxxxxxxxx, New York Avenue described) 0000 Xxxxxxxx Xxxxx Xxxxx Xxx Xxxx 00000 Xxx Xxxx, XX 00000 Clerk (not described) Corporation Subject to XxxxxxxxxxLease 1410 Hospital Trust Tower Providence, Xxxxx Xxxxxx 00000 LEASE ------------------------------------------------------------------------------------------------------- ------------------------------------------------------------------------------------------------------- Rhode Island ------------------------------------------------------------------------------------------------------------------------------------ Schedule B Page 2 of 2 (Cont'd) ------------------------------------------------------------------------------------------------------- Amendments ------------------------------------------------------------------------------------------------------------------------------------ Juris- Filing (Releases, Amendments Debtor Secured Party diction UCC # Date Collateral (Releases, Assignments, etc.) ------------------------------------------------------------------------------------------------------- ------------------------------------------------------------------------------------------------------------------------------------ Phoenix Laboratories, Inc. WASCO Funding Corporation Nassau 86-021181 8/25/86 MACHINE Machine (3) ASSIGNED TOleased Assigned To: Laboratories, Inc. Corporation County leased to Xxxxxx 000 Xxxxxx Xxxx 150 East 58th Clerk Street County to debtor who has Xxxxxx Financial Corporation HicksvilleXxxxxxxxxx, New Street Xxx Xxxx 00000 Xxx Xxxx, Xxx Xxxx 00000 Clerk no right to sell or Corporation dispose. 0 Xxxxxxx Xxxxxx York 11801 New YorkXxxxxx Heights, New sell or Xxxxxx XxxxxxxNY 11577 ------------------------------------------------------------------------------------------------------------------------------------ Phoenix Laboratories, XX 00000 York 10155 dispose. -------------------------------------------------------------------------------------------------------- Phoenix Inc. L.I. Trust Co., N.A. Nassau 86-027280 11/18/86 2 MACHINE Laboratories, Inc. N.A. County Machines 000 Xxxxxx Xxxx Industrial Clerk HicksvilleFinance Dept. County Xxxxxxxxxx, Xxx Xxxxxxx Xxxx. Xxxx 00000 00 Xxxxxxxx Xxxxx Xxxxxxxxxx, XX 00000 -------------------------------------------------------------------------------------------------------- ------------------------------------------------------------------------------------------------------------------------------------ Great Earth Distribution, The Lease Factor, Inc. S/S 87-128909 5/28/87 Equipment Lease Distribution, Inc. Inc. The Beaumont Building Calif. 00000 Xxxxxxx Xxxxxx X.X. Xxx Xxxxxxxx 00 Xx Xxxxxx, XX 00000 Building X.X. Xxx 00 Xxxxx Xxxxxxx XxxxxxxxxxxSouth Station Framingman, Xxxx. 00000 -------------------------------------------------------------------------------------------------------- Mass. 01701 ------------------------------------------------------------------------------------------------------------------------------------ Great Earth Distribution, Pitney Xxxxx Credit S/S 86-146811 6/11/86 Lease - re: Distribution, Inc. Credit Postal 14211 Gannett Corporation Corporation Calif. Postal 00000 Xxxxxxx Xxxxxx Xxxxxxxxxxx Xxxxxxxxx Equipment Xx Xxxxxx, XX 00000 00000 Xxxxxxxxx Xxxx. Xxxxx 000 Xxxxxxxx, XX 00000 -------------------------------------------------------------------------------------------------------- ------------------------------------------------------------------------------------------------------------------------------------ Great Earth Distribution, Pitney Xxxxx Credit S/S 86146812 6/11/86 Lease - re: Distribution, Postal Inc. Credit Corporation Calif. Postal Equipment 00000 Xxxxxxx Xxxxxx Xxxxxxxxxxx 00000 Xxxxxxxxx Xxxx. Xx Xxxxxx, XX 00000 00000 Xxxxxxxxx Xxxx. Xxxxx 000 Xxxxxxxx, XX 00000 -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- SEVENTH AMENDED AND RESTATED PROMISSORY NOTE $1,220,000 New York, New York August 27, 1998 FOR VALUE, RECEIVED, PHOENIX LABORATORIES, INC., GREAT EARTH DISTRIBUTION, INC. and BODYONICS, LTD. (individually and collectively the "Payor"), jointly and severally hereby promise to pay to the order of THE CIT GROUP/CREDIT FINANCE, INC., a Delaware corporation ("Payee"), at its offices located at 0000 Xxxxxx xx xxx Xxxxxxxx, Xxx Xxxx, Xxx Xxxx 00000, or at such other place as Payee or any holder hereof may from time to time designate, the principal sum of ONE NHLL16N TWO HUNDRED TWENTY THOUSAND DOLLARS ($1,220,000) in lawful money of the United States, in thirty-five installments of TWENTY THOUSAND DOLLARS ($20,000) each payable on the first (1st) day of each consecutive month, commencing October 1, 1998 and one (1) final installment in the amount of the entire unpaid principal balance of this Note, payable August 17, 2001. Payor hereby further promises to pay interest to Payee in like money at said office or place on the unpaid principal balance hereof, computed at the rate of two percent (2%) per annum plus the prime rate as announced by The Chase Manhattan Bank or its successor, in New York, New York from time to time as its prime rate (the prime rate is not intended to be the lowest rate of interest charged by The Chase Manhattan Bank to its borrowers) and such interest shall be payable monthly on the first (1st) day of each month, commencing September 1, 1998. Interest shall be calculated on the basis of a 360-day year and actual days elapsed. In no event shall the interest charged hereunder exceed the maximum permitted under the laws of the State of New York. This Note is secured by the collateral described in the Security Agreement (Accounts, Contract Rights, Instruments and Goods pertaining thereto), the Inventory Security Agreement and the Equipment Security Agreement, each executed February 17, 1988 by and between Payor and Fidelcor Business Credit Corporation ("Fidelcor"), assignor of Payee, and all related agreements, instruments (including but not limited to this Note) and documents granting collateral security to Payee or evidencing or creating indebtedness of Payor to Payee, all guaranties executed by third parties guaranteeing Payor's obligations to Payee, including those executed by: Xxxxxx Xxxx and Evergood Products Corporation (the "Guarantors") (the foregoing, as the same may now exist and have been and may hereafter be amended, modified, replaced or supplemented, are hereafter collectively referred to as the "Financing Agreements"). This Note supersedes and replaces but does not extinguish any of the unpaid liabilities and obligations under the Sixth Amended and Restated Promissory Note dated February 12, 1997, in the original principal amount of $1,150,000 executed by Payor in favor of Payee (the "`Existing Note"). The indebtedness of Payor to Payee evidenced hereby includes (i) an indebtedness of$880,000 representing the unpaid principal balance of the Existing Note; (ii) an indebtedness of$95,000 representing advances made by Payee to Payor for the purchase of new equipment; and (iii) an indebtedness of $245,000 representing an advance made by Payee to Payor on the date hereof, all of which shall be repayable together with interest accrued and accruing and other sums in accordance with the terms hereof. Payor hereby acknowledges that Payor is as of the date hereof indebted to Payee, in the principal amount hereof, together with interest accrued and accruing through and after the date hereof, without offset, defense or counterclaim of any kind, nature or description whatsoever. The amendment and restatement contained herein shall not, in any manner be construed to constitute payment of, or impair, limit, cancel or extinguish the indebtedness evidenced by the Existing Note and the liens and security interests securing such indebtedness shall not in any manner be impaired, limited, terminated, waived or released hereby. At the time any payment is due hereunder, Payee may, at its option, charge the amount thereof to any account of Payor maintained by Payee. If an event of default shall occur for any reason under any of the Financing Agreements, or if any of the Financing Agreements shall be terminated or not be renewed for any reason whatsoever, then and in any such event, in addition to all rights and remedies of Payee under the Financing Agreements, applicable law or otherwise (all such rights and remedies being cumulative, not exclusive and enforceable alternatively, successively and concurrently) Payee may, at its option, declare any or all of Payor's obligations under the Financing Agreements, including, but not limited to, all amounts owing under this Note, to be due and payable, whereupon the then unpaid balance hereof together with all interest accrued thereon, shall forthwith become due and payable, together with costs and expenses of collection, including reasonable attorney's fees. Payee shall not be required to resort to any of the aforementioned collateral for payment, but may proceed against Payor and/or the Guarantors in such order and manner as Payee may choose. None of the rights of Payee shall be waived or diminished by any failure or delay in the exercise thereof. Payor hereby waives diligence, demand, presentment, protest and notice of any kind and assents to extensions of time of payment, release, surrender or substitution of collateral security, or forbearance or other indulgence, without notice. In the event of any litigation with respect to any of the Financing Agreements, Payor waives the right to a trial by jury, 0 rights of set-off, and any right to interpose permissive counterclaims and cross-claims, and Payor consents to the jurisdiction of the courts of the State of New York and of any federal court located in either New York or Nassau County in such State. Payor further waives personal service of any and all process upon Payor and consents that all such service of process may be made by certified mail, return receipt requested, directed to Payor at the address listed above or of which Payor advises Payee, in writing, and service so made shall be deemed complete three days after the same shall have been posted. This Note shall be governed by and construed, and all rights and obligations hereunder determined, in accordance with the laws of the State of New York, and shall be binding upon the successors and assigns of Payor and inure to the benefit of Payee, its successors, endorsees and assigns. If any term or provision of this Note shall be held invalid, illegal or unenforceable, the validity of all other terms and provisions hereof shall in no way be affected thereby. The execution and delivery of this Note has been authorized by the board of directors of Payor. PHOENIX LABORATORIES, INC. By: /s/ ------------------------------ Title: ExVP --------------------------- GREAT EARTH DISTRIBUTION, INC. By: /s/ ------------------------------ Title: ExVP --------------------------- BODYONICS, LTD. By: /s/ ------------------------------ Title: ExVP --------------------------- August 30, 2000 Phoenix Laboratories, Inc. Great Earth Distribution, Inc. Bodyonics, Ltd. 000 Xxxxxx Xxxx Xxxxxxxxxx, New York 11801 Re: Security Agreement (Accounts, etc.) executed February 17, 1988 (the "Accounts Agreement"), by and between Phoenix Laboratories, Inc. ("Phoenix") and Great Earth Distribution, Inc. ("GED") and The CIT Group/Business Credit, Inc. ("CIT"), successor by merger to The CIT Group/Credit Finance, Inc., assignee of Fidelcor Business Credit Corporation ("Fidelcor"), and the Security Agreement (Inventory) and Security Agreement (Equipment), executed February 17, 1988 by Phoenix and GED in favor of Fidelcor, to which Security Agreements Bodyonics, Ltd. ("Bodyonics") became a party, as Debtor, by letter agreement dated November 18, 1996; the Seventh Amended and Restated Promissory Note in the original principal amount of $1,220,000 dated August 27, 1998 and made by Phoenix, GED and Bodyonics, (the "Note"), and all related agreements, amendments, documents and instruments (collectively, the "Financing Agreements"). GED, Phoenix and Bodyonics may be hereinafter referred to individually as "Debtor" and collectively as "Debtors".
Appears in 1 contract
Trademark Collateral Assignment and Security Agreement. dated April 26, 1988,executed 1988, executed by GEI GED in favor of Fidelcor. Schedule B Page 1 of 2 Unterminated Security Interests ------------------------------------------------------------------------------------------------------- Amendments ------------------------------------------------------------------------------------------------------------------------------------ Juris- Filing (Releases, Amendments Debtor Secured Party diction UCC # Date Collateral (Releases, Assignments, etc.) ------------------------------------------------------------------------------------------------------- ------------------------------------------------------------------------------------------------------------------------------------ Phoenix Laboratories, Inc. Xxxxxxx-La Xx Xxxxx, N.Y. S/S 390298 12/24/88 All Equipment Laboratories, Inc. Roche, Inc. S/S (now owned, X.X. Xxx 000 000 Xxxxxxxxx Inc. owned, hereafter 000 Xxxxx Xxxxxx Street acquired000 Xxxxxxxxx Xxxxxx xxxxxxxx) WoodmereXxxxxxxx, New York Xxx Xxxx 00000 Nutley, N.J. 11598 07110 ------------------------------------------------------------------------------------------------------- Xxxxxxx Xxxx Xxxxxx X.X. 000000 ------------------------------------------------------------------------------------------------------------------------------------ Phoenix Laboratories, Inc. Long Island Trust Co. N.Y. S/S 348550 11/10/86 2 Machines Laboratories, Inc. Trust Co. S/S 000 Xxxxxx Xxxx Industrial Debtor has no Finance Hicksville, New York Finance 11801 Dept. Debtor has no power 11 Broadway to sell 11801 00 Xxxxxxxx xx xxxxxxx xx or dispose Xxxxxxxxxx, xxxxxxxxxx XX 00000 ------------------------------------------------------------------------------------------------------- of collateral ------------------------------------------------------------------------------------------------------------------------------------ Phoenix Laboratories, Inc. Xxxxxxx-La Xx Xxxxx, Nassau 87-001408 1/16/87 All equipment Laboratories, Inc. Roche, Inc. County (now owned & X.X. Xxx 000 000 Xxxxxxxxx Clerk Inc. County owned & hereafter 000 Xxxxx Xxxxxx 340 Kingsland Street Clerk acquired.) WoodmereXxxxxxxx, New York Xxx Xxxx 00000 Nutley, N.J. 11598 07110 ------------------------------------------------------------------------------------------------------- ------------------------------------------------------------------------------------------------------------------------------------ Phoenix Laboratories, Inc. Xxxxxxx-La Xx Xxxxx, Nassau 87-027548 11/25/87 All equipment Laboratories, Inc. Roche, Inc. County (now owned & X.X. Xxx 000 000 Xxxxxxxxx Clerk Inc. County owned & hereafter 000 Xxxxx Xxxxxx 340 Kingsland Street Clerk acquired.) WoodmereXxxxxxxx, New York Xxx Xxxx 00000 Nutley, N.J. 11598 07110 ------------------------------------------------------------------------------------------------------- ------------------------------------------------------------------------------------------------------------------------------------ Phoenix Laboratories, Inc. Equilease Corporation Nassau 86-03044 030440 12/19/86 Feild for Info. ASSIGNED TOAssigned to: Laboratories, Inc. Corporation County Only. Textron Capital 000 Xxxxxx Xxxx 750 Third Clerk Avenue County Only. Property (not Corporation HicksvilleTextron Capital Xxxxxxxxxx, New York Avenue described) 0000 Xxxxxxxx Xxxxx Xxxxx Xxx Xxxx 00000 Xxx Xxxx, XX 00000 Clerk (not described) Corporation Subject to XxxxxxxxxxLease 1410 Hospital Trust Tower Providence, Xxxxx Xxxxxx 00000 LEASE ------------------------------------------------------------------------------------------------------- ------------------------------------------------------------------------------------------------------- Rhode Island ------------------------------------------------------------------------------------------------------------------------------------ Schedule B Page 2 of 2 (Cont'd) ------------------------------------------------------------------------------------------------------- Amendments ------------------------------------------------------------------------------------------------------------------------------------ Juris- Filing (Releases, Amendments Debtor Secured Party diction UCC # Date Collateral (Releases, Assignments, etc.) ------------------------------------------------------------------------------------------------------- ------------------------------------------------------------------------------------------------------------------------------------ Phoenix Laboratories, Inc. WASCO Funding Corporation Nassau 86-021181 8/25/86 MACHINE Machine (3) ASSIGNED TOleased Assigned To: Laboratories, Inc. Corporation County leased to Xxxxxx 000 Xxxxxx Xxxx 150 East 58th Clerk Street County to debtor who has Xxxxxx Financial Corporation HicksvilleXxxxxxxxxx, New Street Xxx Xxxx 00000 Xxx Xxxx, Xxx Xxxx 00000 Clerk no right to sell or Corporation dispose. 0 Xxxxxxx Xxxxxx York 11801 New YorkXxxxxx Heights, New sell or Xxxxxx XxxxxxxNY 11577 ------------------------------------------------------------------------------------------------------------------------------------ Phoenix Laboratories, XX 00000 York 10155 dispose. -------------------------------------------------------------------------------------------------------- Phoenix Inc. L.I. Trust Co., N.A. Nassau 86-027280 11/18/86 2 MACHINE Laboratories, Inc. N.A. County Machines 000 Xxxxxx Xxxx Industrial Clerk HicksvilleFinance Dept. County Xxxxxxxxxx, Xxx Xxxxxxx Xxxx. Xxxx 00000 00 Xxxxxxxx Xxxxx Xxxxxxxxxx, XX 00000 -------------------------------------------------------------------------------------------------------- ------------------------------------------------------------------------------------------------------------------------------------ Great Earth Distribution, The Lease Factor, Inc. S/S 87-128909 5/28/87 Equipment Lease Distribution, Inc. Inc. The Beaumont Building Calif. 00000 Xxxxxxx Xxxxxx X.X. Xxx Xxxxxxxx 00 Xx Xxxxxx, XX 00000 Building X.X. Xxx 00 Xxxxx Xxxxxxx XxxxxxxxxxxSouth Station Framingman, Xxxx. 00000 -------------------------------------------------------------------------------------------------------- Mass. 01701 ------------------------------------------------------------------------------------------------------------------------------------ Great Earth Distribution, Pitney Xxxxx Credit S/S 86-146811 6/11/86 Lease - re: Distribution, Inc. Credit Postal 14211 Gannett Corporation Corporation Calif. Postal 00000 Xxxxxxx Xxxxxx Xxxxxxxxxxx Xxxxxxxxx Equipment Xx Xxxxxx, XX 00000 00000 Xxxxxxxxx Xxxx. Xxxxx 000 Xxxxxxxx, XX 00000 -------------------------------------------------------------------------------------------------------- ------------------------------------------------------------------------------------------------------------------------------------ Great Earth Distribution, Pitney Xxxxx Credit S/S 86146812 6/11/86 Lease - re: Distribution, Postal Inc. Credit Corporation Calif. Postal Equipment 00000 Xxxxxxx Xxxxxx Xxxxxxxxxxx 00000 Xxxxxxxxx Xxxx. Xx Xxxxxx, XX 00000 00000 Xxxxxxxxx Xxxx. Xxxxx 000 Xxxxxxxx, XX 00000 -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- SEVENTH AMENDED AND RESTATED PROMISSORY NOTE $1,220,000 New York, New York August 27, 1998 FOR VALUE, RECEIVED, PHOENIX LABORATORIES, INC., GREAT EARTH DISTRIBUTION, INC. and BODYONICS, LTD. (individually and collectively the "Payor"), jointly and severally hereby promise to pay to the order of THE CIT GROUP/CREDIT FINANCE, INC., a Delaware corporation ("Payee"), at its offices located at 0000 Xxxxxx xx xxx Xxxxxxxx, Xxx Xxxx, Xxx Xxxx 00000, or at such other place as Payee or any holder hereof may from time to time designate, the principal sum of ONE NHLL16N TWO HUNDRED TWENTY THOUSAND DOLLARS ($1,220,000) in lawful money of the United States, in thirty-five installments of TWENTY THOUSAND DOLLARS ($20,000) each payable on the first (1st) day of each consecutive month, commencing October 1, 1998 and one (1) final installment in the amount of the entire unpaid principal balance of this Note, payable August 17, 2001. Payor hereby further promises to pay interest to Payee in like money at said office or place on the unpaid principal balance hereof, computed at the rate of two percent (2%) per annum plus the prime rate as announced by The Chase Manhattan Bank or its successor, in New York, New York from time to time as its prime rate (the prime rate is not intended to be the lowest rate of interest charged by The Chase Manhattan Bank to its borrowers) and such interest shall be payable monthly on the first (1st) day of each month, commencing September 1, 1998. Interest shall be calculated on the basis of a 360-day year and actual days elapsed. In no event shall the interest charged hereunder exceed the maximum permitted under the laws of the State of New York. This Note is secured by the collateral described in the Security Agreement (Accounts, Contract Rights, Instruments and Goods pertaining thereto), the Inventory Security Agreement and the Equipment Security Agreement, each executed February 17, 1988 by and between Payor and Fidelcor Business Credit Corporation ("Fidelcor"), assignor of Payee, and all related agreements, instruments (including but not limited to this Note) and documents granting collateral security to Payee or evidencing or creating indebtedness of Payor to Payee, all guaranties executed by third parties guaranteeing Payor's obligations to Payee, including those executed by: Xxxxxx Xxxx and Evergood Products Corporation (the "Guarantors") (the foregoing, as the same may now exist and have been and may hereafter be amended, modified, replaced or supplemented, are hereafter collectively referred to as the "Financing Agreements"). This Note supersedes and replaces but does not extinguish any of the unpaid liabilities and obligations under the Sixth Amended and Restated Promissory Note dated February 12, 1997, in the original principal amount of $1,150,000 executed by Payor in favor of Payee (the "`Existing Note"). The indebtedness of Payor to Payee evidenced hereby includes (i) an indebtedness of$880,000 representing the unpaid principal balance of the Existing Note; (ii) an indebtedness of$95,000 representing advances made by Payee to Payor for the purchase of new equipment; and (iii) an indebtedness of $245,000 representing an advance made by Payee to Payor on the date hereof, all of which shall be repayable together with interest accrued and accruing and other sums in accordance with the terms hereof. Payor hereby acknowledges that Payor is as of the date hereof indebted to Payee, in the principal amount hereof, together with interest accrued and accruing through and after the date hereof, without offset, defense or counterclaim of any kind, nature or description whatsoever. The amendment and restatement contained herein shall not, in any manner be construed to constitute payment of, or impair, limit, cancel or extinguish the indebtedness evidenced by the Existing Note and the liens and security interests securing such indebtedness shall not in any manner be impaired, limited, terminated, waived or released hereby. At the time any payment is due hereunder, Payee may, at its option, charge the amount thereof to any account of Payor maintained by Payee. If an event of default shall occur for any reason under any of the Financing Agreements, or if any of the Financing Agreements shall be terminated or not be renewed for any reason whatsoever, then and in any such event, in addition to all rights and remedies of Payee under the Financing Agreements, applicable law or otherwise (all such rights and remedies being cumulative, not exclusive and enforceable alternatively, successively and concurrently) Payee may, at its option, declare any or all of Payor's obligations under the Financing Agreements, including, but not limited to, all amounts owing under this Note, to be due and payable, whereupon the then unpaid balance hereof together with all interest accrued thereon, shall forthwith become due and payable, together with costs and expenses of collection, including reasonable attorney's fees. Payee shall not be required to resort to any of the aforementioned collateral for payment, but may proceed against Payor and/or the Guarantors in such order and manner as Payee may choose. None of the rights of Payee shall be waived or diminished by any failure or delay in the exercise thereof. Payor hereby waives diligence, demand, presentment, protest and notice of any kind and assents to extensions of time of payment, release, surrender or substitution of collateral security, or forbearance or other indulgence, without notice. In the event of any litigation with respect to any of the Financing Agreements, Payor waives the right to a trial by jury, 0 rights of set-off, and any right to interpose permissive counterclaims and cross-claims, and Payor consents to the jurisdiction of the courts of the State of New York and of any federal court located in either New York or Nassau County in such State. Payor further waives personal service of any and all process upon Payor and consents that all such service of process may be made by certified mail, return receipt requested, directed to Payor at the address listed above or of which Payor advises Payee, in writing, and service so made shall be deemed complete three days after the same shall have been posted. This Note shall be governed by and construed, and all rights and obligations hereunder determined, in accordance with the laws of the State of New York, and shall be binding upon the successors and assigns of Payor and inure to the benefit of Payee, its successors, endorsees and assigns. If any term or provision of this Note shall be held invalid, illegal or unenforceable, the validity of all other terms and provisions hereof shall in no way be affected thereby. The execution and delivery of this Note has been authorized by the board of directors of Payor. PHOENIX LABORATORIES, INC. By: /s/ ------------------------------ Title: ExVP --------------------------- GREAT EARTH DISTRIBUTION, INC. By: /s/ ------------------------------ Title: ExVP --------------------------- BODYONICS, LTD.
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