WAIVER OF NOTICE OF EXERCISE OF PREJUDGMENT REMEDY AND WAIVER OF JURY TRIAL
WAIVER OF NOTICE OF EXERCISE OF PREJUDGMENT
REMEDY AND WAIVER OF JURY TRIAL
XXXXXX made this 25th day of June, 2002, by and among SWISS ARMY BRANDS, INC. (the "Borrower") and SWISS ARMY BRAND, LTD., SWISS ARMY BRANDS (SUISSE) S.A., EXCELSIOR ADVERTISING, INC., BEAR CUTLERY, INC. ("Bear"), SWISS ARMY BRANDS CH, INC. ("SWABCHI") (collectively, the "Guarantors") and SWISS ARMY RETAIL, INC ("Retail") in favor of FLEET NATIONAL BANK (the "Bank").
W I T N E S S E T H:
WHEREAS, the Borrower and the Guarantors have entered into Temporary Modification to 2001 (Second) Amended and Restated Commercial Loan Agreement dated as of even date herewith (the "Temporary Modification"); and
WHEREAS, Retail has entered into that Agreement of Guaranty and Suretyship dated as of even date herewith (the "Retail Guaranty")
NOW THEREFORE, for a valuable consideration received by Xxxxxxxx and the Guarantors, the receipt and sufficiency of which are hereby acknowledged, the Borrower and each of the Guarantors each:
- ACKNOWLEDGE AND AGREE THAT THE TRANSACTION OF WHICH THE TEMPORARY
MODIFICATION AND THE RETAIL GUARANTY ARE PART, ARE
COMMERCIAL TRANSACTIONS AS THAT TERM IS DEFINED IN SECTION 52-278a OF THE CONNECTICUT GENERAL STATUTES, AS AMENDED, AND THE
BORROWER, THE GUARANTORS AND RETAIL HEREBY VOLUNTARILY AND KNOWINGLY WAIVE AND RELINQUISH (A) ANY AND ALL RIGHTS WHICH THEY
MAY HAVE PURSUANT TO ANY LAW OR CONSTITUTIONAL PROVISION, INCLUDING WITHOUT LIMITATION CHAPTER 903(a) OF THE CONNECTICUT
GENERAL STATUTES, AS AMENDED, TO ANY NOTICE OR HEARING PRIOR TO ANY ATTEMPT BY THE BANK TO OBTAIN A PREJUDGMENT REMEDY
AGAINST THE BORROWER AND/OR ANY OF THE GUARANTORS IN CONNECTION WITH SUCH TRANSACTIONS, AND (B) ALL RIGHTS UNDER CHAPTER
903a OF THE CONNECTICUT GENERAL STATUTES, OR AS OTHERWISE ALLOWED BY LAW, TO REQUEST THAT THE BANK POST A BOND, WITH OR
WITHOUT SURETY, TO PROTECT THE BORROWER AND/OR ANY OF THE GUARANTORS AND/OR RETAIL OR ANY OTHER PERSON OR ENTITY LIABLE IN
CONNECTION WITH THIS TRANSACTION AGAINST DAMAGES THAT MAY BE CAUSED BY ANY PREJUDGMENT REMEDY SOUGHT OR OBTAINED BY THE
BANK, AND THE BORROWER, THE GUARANTORS AND RETAIL EACH HEREBY CONSENT TO THE ISSUANCE OF ANY SUCH PREJUDGMENT REMEDY WITHOUT
SUCH A BOND.
- CONSENT TO THE JURISDICTION OF ANY STATE OR FEDERAL COURT LOCATED WITHIN CONNECTICUT. THE BORROWER, THE GUARANTORS AND
RETAIL WAIVE TRIAL BY JURY AND WAIVE ANY OBJECTION TO VENUE OF ANY ACTION INSTITUTED HEREUNDER AND CONSENT TO THE GRANTING
OF SUCH LEGAL OR EQUITABLE RELIEF AS IS DEEMED APPROPRIATE BY THE COURT.
Agreed to as of the date first above written.
BORROWER:
SWISS ARMY BRANDS, INC.
By—————————
Name
Title
GUARANTORS AND RETAIL:
SWISS ARMY BRAND, LTD. EXCELSIOR ADVERTISING, INC.
By————————————
By—————————
Name
Name
Title
Title
SWISS ARMY BRANDS (SUISSE) S.A. SWISS ARMY BRANDS CH, INC.
By————————————
By—————————
Name
Name
Title
Title
BEAR CUTLERY, INC. SWISS ARMY RETAIL, INC.
By————————————
By—————————
Name
Name
Title
Title
ACCEPTED:
FLEET NATIONAL BANK
By————————————
Xxxxx X. Xxxxx
Vice President
