Contract
EXHIBIT 10.5
PATENT SECURITY AGREEMENT dated as of January 26, 2011 (this
“Agreement”), among the grantors listed on Schedule
I hereto (the “U.S Grantors”) and Wilmington Trust
FSB, as collateral agent (in such capacity, the “Collateral
Agent”).
Reference is made to (a) the Collateral Agreement dated as of January 26, 2011 (as amended,
restructured, renewed, novated, supplemented, restated, replaced or otherwise modified from time to
time, the “Collateral Agreement”), among UCI International, Inc., a Delaware Corporation
(as successor by merger to Uncle Acquisition 2010 Corp) (the “Closing Date Borrower”), UCI
Holdings Limited (“Holdings”), the Grantors from time to time party thereto and the
Collateral Agent and (b) the Credit Agreement dated as of January 26, 2011 (as amended, extended,
restructured, renewed, novated, supplemented, restated, refunded, replaced or otherwise modified
from time to time, the “Credit Agreement”), among Uncle Acquisition 2010 Corp, the Closing
Date Borrower, UCI Acquisition Holdings (No. 1) Corp, a Delaware corporation, UCI Acquisition
Holdings (No. 2) Corp, a Delaware corporation, Holdings, the Subsidiary Guarantors, the Lenders and
Credit Suisse AG, as administrative agent to the Lenders. The Lenders have agreed to extend credit
to the Borrowers pursuant to, and upon the terms and conditions specified in, the Credit Agreement.
The parties hereto agree as follows:
SECTION 1. Terms. Capitalized terms used in this Agreement and not otherwise defined
herein have the meanings specified pursuant to the Collateral Agreement. The rules of construction
specified in Section 1.01(b) of the Collateral Agreement also apply to this Agreement.
SECTION 2. Grant of Security Interest. Each U.S. Grantor hereby assigns and pledges
to the Collateral Agent, its successors and permitted assigns, for the ratable benefit of the
Secured Parties, and hereby grants to the Collateral Agent, its successors and permitted assigns,
for the ratable benefit of the Secured Parties, a Security Interest in all of such U.S. Grantor’s
right, title or interest in, to and under all of the Patents of such U.S. Grantor (including those
listed on Schedule II hereto) now owned or at any time hereafter acquired by such U.S.
Grantor or in which such U.S. Grantor now has or at any time in the future may acquire any right,
title or interest as security for the payment or performance, as the case may be, in full of the
Obligations.
SECTION 3. Purpose. This Agreement has been executed and delivered by the parties
hereto for the purpose of recording the grant of the Security Interest with the United States
Patent and Trademark Office. This Agreement is expressly subject to the terms and conditions set
forth in the Collateral Agreement.
SECTION 4. Collateral Agreement. The U.S. Grantors hereby acknowledge and affirm
that the rights and remedies of the Collateral Agent with respect to the Patents are more fully set
forth in the Collateral Agreement, the terms and provisions of which are hereby incorporated herein
by reference as if fully set forth
herein. In the event of any conflict between the terms of this
Agreement and the Collateral Agreement, the terms of the Collateral Agreement shall govern.
SECTION 5. Counterparts. This Agreement may be executed in counterparts (and by
different parties hereto on different counterparts), each of which shall constitute an original but
all of which when taken together shall constitute a single contract. Delivery of an executed
signature page to this Agreement by facsimile transmission or other customary means of electronic
transmission (e.g., “pdf”) shall be effective as delivery of a manually signed counterpart of this
Agreement.
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IN WITNESS WHEREOF, the parties hereto have duly executed this Agreement as of the day and
year first above written.
AIRTEX PRODUCTS, LP |
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By | /s/ Xxxxx Xxxxxxx Xxxxxxx | |||
Name: | Xxxxx Xxxxxxx Xxxxxxx | |||
Title: | Vice President | |||
[Signature Page to Patent Security Agreement]
CHAMPION LABORATORIES, INC. |
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By | /s/ Xxxxx Xxxxxxx Xxxxxxx | |||
Name: | Xxxxx Xxxxxxx Xxxxxxx | |||
Title: | Vice President | |||
[Signature Page to Patent Security Agreement]
WILMINGTON TRUST FSB, as Collateral Agent, |
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By | /s/ Xxxxx Xxxx | |||
Name: | Xxxxx Xxxx | |||
Title: | Vice President | |||
[Signature Page to Patent Security Agreement]
Schedule I
U.S. Grantors
Airtex Products, LP
Champion Laboratories, Inc.
Champion Laboratories, Inc.
Schedule II
Patents
Airtex Products, LP
Patent No. | Issue Date | |||
5,908,020 |
6/1/1999 | |||
5,908,286 |
6/1/1999 | |||
5,961,293 |
10/5/1999 | |||
6,102,011 |
8/15/2000 | |||
6,179,577 |
1/30/2001 | |||
6,240,904 |
6/5/2001 | |||
6,413,039 |
7/2/2002 | |||
6,718,952 |
4/13/2004 | |||
6,830,439 |
12/14/2004 | |||
6,837,219 |
1/4/2005 | |||
7,156,080 |
1/2/2007 | |||
7,263,978 |
9/4/2007 | |||
7,406,954 |
8/5/2008 | |||
7,722,344 |
5/25/2010 |
Champion Laboratories, Inc.
Patent No. | Issue Date | |||
5,125,940 |
6/30/1992 | |||
5,772,881 |
6/30/1998 | |||
6,117,311 |
9/12/2000 | |||
6,544,412 |
4/8/2003 | |||
6,585,887 |
7/1/2003 | |||
6,645,373 |
11/11/2003 | |||
6,926,827 |
8/9/2005 | |||
7,175,761 |
2/13/2007 | |||
D538,883 |
3/20/2007 | |||
D541,373 |
4/24/2007 | |||
D570,675 |
6/10/2008 |
Patent Applications
Champion Laboratories, Inc.
Patent Application No. | Filing Date | |||
61/385,052 |
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61/373,136 |