JOINDER AGREEMENT
Exhibit 4.2
THIS JOINDER AGREEMENT (this “Agreement”), dated as of April 4, 2014, is entered into between Archway Sales, LLC, a Delaware limited liability company (the “New Subsidiary”) and BANK OF AMERICA, N.A., as Agent (as defined below) under that certain Credit Agreement dated as of March 31, 2011, among Nexeo Solutions, LLC, a Delaware limited liability company (the “Company”), each domestic subsidiary of the Company from time to time party thereto, Nexeo Solutions Canada Corp., a British Columbia corporation, Nexeo Solutions Holdings, LLC, a Delaware limited liability company (“Holdings”), Nexeo Solutions Sub Holding Corp., a Delaware corporation (“Sub Holdco”), the Lenders parties thereto, and Bank of America, N.A., as administrative agent and collateral agent for the Lenders thereunder (the “Agent”) (as amended, restated, extended, supplemented or otherwise modified from time to time, the “Credit Agreement”). All capitalized terms used herein and not otherwise defined shall have the meanings set forth in the Credit Agreement.
The New Subsidiary and the Agent, for the benefit of the Lenders, hereby agree as follows:
1. The New Subsidiary hereby acknowledges, agrees and confirms that, by its execution of this Agreement, such New Subsidiary will be deemed to be a Subsidiary Party under the Pledge and Security Agreement, dated as of March 31, 2011, among the Company, Holdings, Sub Holdco, and certain Domestic Subsidiaries of the Company from time to time party thereto, in favor of the Agent for the benefit of the Secured Parties (as amended, restated, amended and restated, supplemented or otherwise modified, the “Security Agreement”) for all purposes of the Security Agreement and shall have all of the obligations of a Subsidiary Party thereunder as if it had executed the Security Agreement, including without limitation the grant pursuant to Article II of the Security Agreement of a security interest to the Agent for the benefit of the Secured Parties in the property and property rights constituting Collateral (as defined in Article II of the Security Agreement) of such Subsidiary Party or in which such Subsidiary Party has or may have or acquire an interest or the power to transfer rights therein, whether now owned or existing or hereafter acquired or arising and wheresoever located, as security for the payment and performance of all Secured Obligations, all with the same force and effect as if the New Subsidiary were a signatory to the Security Agreement.
2. The New Subsidiary hereby agrees that each reference in the Security Agreement to a Subsidiary Party shall also mean and be a reference to such New Subsidiary.
3. Attached to this Agreement are duly completed schedules and certain exhibits (the “Supplemental Schedules”) to the Security Agreement. The New Subsidiary represents and warrants that the information contained on each of the Supplemental Schedules with respect to the New Subsidiary and its properties and affairs is true, complete and accurate as of the date hereof.
4. The New Subsidiary hereby waives acceptance by the Agent and the Lenders of this Agreement and acknowledges that the Secured Obligations are and shall be deemed to be incurred, and that credit extensions under the Credit Agreement, Cash Management Agreements, and Swap Agreements are made and maintained, in reliance on this Agreement and the New Subsidiary’s joinder as a party to the Security Agreement as herein provided.
5. This Agreement may be executed in any number of counterparts, each of which when so executed and delivered shall be an original, but all of which shall constitute one and the same instrument. Delivery of an executed counterpart of a signature page of this Agreement by facsimile or other electronic transmission shall be effective as delivery of a manually executed counterpart of this Agreement.
6. THIS AGREEMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES HEREUNDER SHALL BE CONSTRUED IN ACCORDANCE WITH AND GOVERNED BY THE LAWS OF THE STATE OF NEW YORK.
IN WITNESS WHEREOF, the New Subsidiary has caused this Agreement to be duly executed by its authorized officer, and the Agent, for the benefit of the Lenders, has caused the same to be accepted by its authorized officer, as of the day and year first above written.
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NEW SUBSIDIARY: | |
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ARCHWAY SALES, LLC | |
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By: |
/s/ Xxxx Xxxxx |
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Name: |
Xxxx Xxxxx |
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Title: |
Executive Vice President, Chief |
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Financial Officer and Assistant Treasurer |
[Signature Page to Joinder to ABL Security Agreement]
Acknowledged and accepted:
BANK OF AMERICA, N.A., as Agent
By: |
/s/ Xxxxxx Xxxxxxx |
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Name: |
Xxxxxx Xxxxxxx |
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Title: |
Senior Vice President |
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[Signature Page to Joinder to ABL Security Agreement]
SCHEDULE 1
Excluded Accounts
1. Payroll, employee benefits, trust or tax withholding accounts funded in the ordinary course of business
Owner |
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Bank Name |
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Type of Account |
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Account Number |
Archway Sales, LLC |
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BMO Xxxxxx Bank |
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Operating |
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0000000 |
Archway Sales, LLC |
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BMO Xxxxxx Bank |
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Safe Deposit Box |
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1003143604306 |
Archway Sales, LLC |
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Commerce Bank |
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Operating |
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208056398 |
Archway Sales, LLC |
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Parkside Bank & Trust |
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Operating |
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8114255 |
2. Xxxxx cash accounts funded in the ordinary course of business
None.
3. Designated Disbursement Accounts
None.
4. Foreign bank accounts
None.
EXHIBIT A
Type of Organization, Jurisdiction of Organization, Organizational Identification
Number, Federal Employer Identification Number, Chief Executive Office, Locations
I. The corporate name, jurisdiction of organization, organizational identification number and federal employer identification number of the New Subsidiary is as follows:(1)
Grantor |
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Jurisdiction of |
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Organizational |
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Federal Employee |
Archway Sales, LLC |
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DE |
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5509441 |
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430907868 |
II. The New Subsidiary’s mailing address and the location of its place of business (if it has only one) or its chief executive office (if it has more than one place of business), is as follows:
Grantor |
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Mailing Address |
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Chief Executive Office |
Archway Sales, LLC |
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0000 Xxxxxxxxxx Xxxxxx Xx. Xxxxx, XX 00000 |
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0000 Xxxxxxxxxx Xxxxxx |
(1) Pending completion of the acquisition and all conversions contemplated therein.
III. (a) Each location that is owned by the New Subsidiary where Collateral is located as of the date hereof (except for Inventory in transit) is as follows:
None.
(b) Each location that is leased by the New Subsidiary where Collateral is located as of the date hereof (except for Inventory in transit) is as follows:
Grantor |
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Leased Location |
Archway Sales, LLC |
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0000 Xxx Xxxxxxx, Xxxxxxx, XX 00000 |
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0000 Xxxxxxxxxx Xxxxxx, Xx. Xxxxx, XX 00000 |
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0000 Xxxxxxxx Xxxxxx, Xx. Xxxxx, XX 00000 |
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0000 Xxxxx Xxxx, Xxxxx 000, Xxxxxxxxxx, XX 00000 |
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000 Xxxxxx Xxxx, Xxxxxxxx, XX 00000 |
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0000 Xxxxxxx Xxxxxxxxx, Xxxxxxx, XX 00000 |
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0000 Xxxxx, Xxxxx Xxxxxx Xxxx, XX 00000 |
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0000 Xxxxxxxxx Xxxxx, Xxxxxxxxxx, XX 00000 |
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0000 Xxxxxxxxxx Xxxxxx, Xx. Xxxxx, XX 00000 |
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000 0xx Xxxxxx, Xxxxxxx, XX 00000 |
(c) Each location where Collateral is held in a public warehouse or is otherwise held by a bailee or on consignment as of the date hereof (except for Inventory in transit) is as follows:
Location |
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Owner of Inventory |
0000 Xxxxxxxx Xx. Xxxx Xxxxx, Xxxxxxx 00000 |
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Archway Sales, LLC |
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000 Xxxxxxxxx Xx. XX Xxxxxxx, Xxxxxxx 00000 |
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000 X. Xxxxx Xx. Xxxxxx, Xxxxxxxx 00000 |
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0000 Xxxxxxx Xxxxx, Xxxxx 000 Xxxxx Xxxxxxx, Xxxxx 00000 |
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0000 Xxxxx Xxxxxx Xxxxxxx, Xxxxxxxx 00000 |
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0000 Xxxxxxxx Xxxx. Xxxxxx, Xxxxxxxx 00000 |
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0000 Xxxxxxxx Xxxxx Xxxxxxx, Xxxxx 00000 |
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0000 X Xxxxxxxx Xxxxxx Xxxxxx Xxxx, Xxxxxxxx 00000 |
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00000 Xxxxxxxxx Xxx. Xxxxx Xx Xxxxxxx, Xxxxxxxxxx 00000 |
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000 Xxxxxxxxxxx Xxxxxx Xxxxxxxxxx, Xxxxxxxxxxxxx 00000 |
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Crystal Warehouse, 00 Xxxxxxxxxx Xxx Xxxxxxxxxx, Xxxxxxxxxxxxx 00000 |
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X000X0000 Xxxxxxxx Xx. Xxxxxxxx, Xxxxxxxxx 00000 |
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00-000 Xxxxxxxx Xxxxxx Xxxxxx, Xxx Xxxxxx 00000 |
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00 Xxxxxx Xxxx Xxxxxxxxx, Xxxxxxxxxxxx 00000 |
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0000 X. Xxxxxxxxx Xx. Xxxxxxx, Xxxxxxx 00000 |
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0000 Xxxxx Xxxxx Xx. Xxxxx, Xxxxxxxx 00000 |
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0000 Xxxxxxx Xxxxxx Xx. Xxxx, Xxxxxxxxx 00000 |
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000 Xxxxx Xxxxx Xxxxx, Xxxxxxx 00000 |
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000 Xxxxxxx Xxxxx Xxxxxxxxxx, XX 00000 |
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0000 X. Xxxx Xxx. Xxxxxx, XX 00000 |
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EXHIBIT B
Bailees, Warehousemen and Third Party Possessors of Collateral
The following bailees, warehouseman and other third parties are in possession or control of Inventory of the New Subsidiary (except for Inventory in transit):
Name and |
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Nature of Relationship |
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Value of Inventory |
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Owner of Inventory | |
0000 Xxxxxxxx Xx. |
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Third-Party Logistics Provider |
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$ |
0 |
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Archway Sales, LLC |
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000 Xxxxxxxxx Xx. XX |
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Third-Party Logistics Provider |
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$ |
1,326,204.55 |
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Archway Sales, LLC |
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000 X. Xxxxx Xx. |
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Third-Party Logistics Provider |
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$ |
1,791,341.61 |
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Archway Sales, LLC |
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0000 Xxxxxxx Xxxxx, Xxxxx 000 |
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Third-Party Logistics Provider |
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$ |
624,600.34 |
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Archway Sales, LLC |
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0000 Xxxxx Xxxxxx |
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Third-Party Logistics Provider |
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$ |
304,738.92 |
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Archway Sales, LLC |
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0000 Xxxxxxxx Xxxx. |
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Third-Party Logistics Provider |
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$ |
300,235.96 |
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Archway Sales, LLC |
0000 Xxxxxxxx Xxxxx |
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Third-Party Logistics Provider |
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$ |
443,379.11 |
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Archway Sales, LLC |
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0000 X Xxxxxxxx Xxxxxx |
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Third-Party Logistics Provider |
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$ |
421,028.21 |
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Archway Sales, LLC |
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00000 Xxxxxxxxx Xxx. |
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Third-Party Logistics Provider |
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$ |
421,872.61 |
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Archway Sales, LLC |
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000 Xxxxxxxxxxx Xxxxxx |
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Third-Party Logistics Provider |
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$ |
64,033.80 |
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Archway Sales, LLC |
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Crystal Warehouse, 00 Xxxxxxxxxx Xxx |
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Third-Party Logistics Provider |
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$ |
901,994.14 |
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Archway Sales, LLC |
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X000X0000 Xxxxxxxx Xx. |
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Third-Party Logistics Provider |
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$ |
47,754.88 |
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Archway Sales, LLC |
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00-000 Xxxxxxxx Xxxxxx |
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Third-Party Logistics Provider |
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$ |
480,581.53 |
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Archway Sales, LLC |
00 Xxxxxx Xxxx |
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Third-Party Logistics Provider |
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$ |
50,497.77 |
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Archway Sales, LLC |
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0000 X. Xxxxxxxxx Xx. |
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Third-Party Logistics Provider |
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$ |
145,695.97 |
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Archway Sales, LLC |
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0000 Xxxxx Xxxxx |
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Third-Party Logistics Provider |
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$ |
0 |
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Archway Sales, LLC |
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0000 Xxxxxxx Xxxxxx |
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Third-Party Logistics Provider |
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$ |
45,949.89 |
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Archway Sales, LLC |
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000 Xxxxx Xxxxx |
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Third-Party Logistics Provider |
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$ |
40,657.74 |
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Archway Sales, LLC |
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000 Xxxxxxx Xxxxx |
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Consignment |
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$ |
47,576.65 |
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Archway Sales, LLC |
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0000 X. Xxxx Xxx. |
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Warehouse |
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$ |
1,777,718.28 |
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Archway Sales, LLC |
EXHIBIT C
Letter-of-Credit Rights and Chattel Paper
None.
EXHIBIT D
United States Federal Intellectual Property Registrations and Applications
I. Patents and Patent Applications:
None.
II. Trademark Registrations and Applications:
None.
III. Copyright Registrations:
None.
EXHIBIT E
Commercial Tort Claims
None.
EXHIBIT F
Pledged Collateral
None.
EXHIBIT G
UCC Filing Offices
Grantor |
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UCC Filing Office |
Archway Sales, LLC |
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Delaware |
EXHIBIT L
FCC Licenses
None.