EXHIBIT 2.5
August 18, 1997
Xx. Xxxxxx Xxxxxx
Xxx. Xxxxx Xxxxxx
000 Xxxxxxxx Xxxx
Xxxxxx xxx Xxx, XX 00000
RE: SECURITY INTEREST
Dear Mr. & Xxx. Xxxxxx:
Global One Distribution & Merchandising Inc., O.S.P. Publishing, Inc., BEx,
Corp. and Xxxxx Xxxxxxx Sports, Inc. (collectively, the "Grantors"), hereby
grant to Xxxxx and Xxxxxx Xxxxxx (collectively, the "Angards"), a security
interest in all New Accounts and New Inventory (as such terms are defined in
that certain Intercreditor Agreement, dated as of August 1, 1997 between the
Angards and Foothill Capital Corporation) to secure all obligations of the
Grantors to the Angards with respect to the nine-hundred thousand dollar
($900,000.00) loan being made by the Angards to the Grantors.
GLOBAL ONE DISTRIBUTION & MERCHANDISING INC. O.S.P. PUBLISHING, INC.
By: /s/ XXXXXX XXXXXXX By: /s/ XXXXXX XXXXXXX
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Its: President Its: President
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BEx, CORP. XXXXX XXXXXXX SPORTS, INC.
By: /s/ XXXXXX XXXXXXX By: /s/ XXXXXX XXXXXXX
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Its: President Its: President
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