TRADEMARK SECURITY AGREEMENT
Exhibit 10.21
EXECUTION VERSION
This Intellectual Property Security Agreement (as amended, restated, supplemented or otherwise modified from time to time, the “Agreement”) is entered into as of May 3, 2019, by and between ROCK CLIFF CAPITAL, LLC (the “Lender”), and HERBAL BRANDS, INC., a Delaware corporation (“Grantor”).
RECITALS
A. Grantor has entered into that certain Loan and Security Agreement, dated as of the date hereof (as amended, restated, supplemented or otherwise modified from time to time, the “Loan Agreement”), with Lender , pursuant to which the Lender will make extensions of credit to Grantor;
B. As a condition to the Loan Agreement, Grantor is required to enter into this Agreement to further evidence the grant to Lender of the security interest in its Trademarks to secure the Obligations.
AGREEMENT
NOW, THEREFORE, Grantor agrees as follows:
To secure the Obligations, Grantor grants and pledges to Lender a security interest in all of Grantor’s Intellectual Property consisting of Trademarks (including without limitation those Trademarks listed on Exhibit A hereto), and all goodwill connected with the use thereof and symbolized thereby.
This security interest is granted in conjunction with the security interest granted to Lender under the Loan Agreement. The rights and remedies of Lender with respect to the security interest are as set forth in the Loan Agreement or as are now or hereafter available to the Lender as a matter of law or equity, shall be cumulative and concurrent.
Grantor represents and warrants that Exhibit A attached hereto set forth any and all Trademarks necessary for the conduct of its business in connection with which such Grantor has registered or filed an application with the United States Patent and Trademark Office.
All capitalized terms used herein without definition shall have the meanings ascribed thereto in the Loan Agreement.
[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]
IN WITNESS WHEREOF, the parties have caused this Agreement to be duly executed effective as of the date set forth above.
| Address of Grantor: | GRANTOR: | |
| HERBAL BRANDS, INC. | ||
| 000 Xxxxx Xxxxxx, 00xx Xxxxx | ||
| Xxx Xxxx, XX 00000 | By: | /s/ Xxxx Xxxxxxxx |
| Name: | Xxxx Xxxxxxxx | |
| Title: | President | |
[SIGNATURE PAGE TO TRADEMARK SECURITY AGREEMENT]
| Address of Lender: | LENDER: | |
| ROCK CLIFF CAPITAL, LLC | ||
| 000 Xxxx 00xx Xxxxxx, 00xx Xxxxx | ||
| Xxx Xxxx, Xxx Xxxx 00000 | By: | /s/ Xxxxxx Xxxxxxx |
| Name: | Xxxxxx Xxxxxxx | |
| Title: | Authorized Signatory | |
[SIGNATURE PAGE TO TRADEMARK SECURITY AGREEMENT]
Exhibit A – TRADEMARKS
| Trademark | Applicant | Owner | Date Filed | Serial # | Registration Date | Registration | ||||||
| DOCTORCARE PLUS | BNG Enterprises, | Herbal Brands, Inc. | 12/9/2011 | 85492092 | 1/21/2014 | 4471375 | ||||||
| DOCTORCAREPLUS RIGHTFOOT | SupremeBeing, LLC | Herbal Brands, Inc. | 4/10/2015 | 86594356 | 1/17/2017 | 5125005 | ||||||
| HERBAL CLEAN | BNG Enterprises, | Herbal Brands, Inc. | 10/10/1995 | 75003292 | 9/17/1996 | 2001460 | ||||||
| MASTER TEA | BNG Enterprises, | Herbal Brands, Inc. | 10/10/1995 | 75003295 | 9/17/1996 | 2001461 | ||||||
| NATURAL TREASURES | BNG Enterprises, | Herbal Brands, Inc. | 10/10/1995 | 75003298 | 5/27/1997 | 2064566 | ||||||
| MIRACLE BREAST | BNG Enterprises, | Herbal Brands, Inc. | 6/2/1999 | 75719466 | 2/13/2001 | 2428925 | ||||||
| Q CLEAN | BNG Enterprises, | Herbal Brands, Inc. | 2/3/2000 | 75909283 | 2/19/2002 | 2539154 | ||||||
| PRETOX | BNG Enterprises, | Herbal Brands, Inc. | 2/16/2000 | 75921348 | 2/19/2002 | 2539181 | ||||||
| CLEANSING TABS | BNG Enterprises, | Herbal Brands, Inc. | 8/27/2001 | 76305877 | 1/7/2003 | 2671491 | ||||||
| THE FIXX | BNG Enterprises, | Herbal Brands, Inc. | 8/25/2001 | 76305376 | 4/8/2003 | 2705331 | ||||||
| TOTAL ECLIPSE | BNG Enterprises, | Herbal Brands, Inc. | 4/25/2001 | 76246739 | 8/5/2003 | 2748088 | ||||||
| Q CARBO PLUS | BNG Enterprises, | Herbal Brands, Inc. | 5/4/2000 | 76041225 | 8/26/2003 | 2756650 | ||||||
| 1 SHOT | BNG Enterprises, | Herbal Brands, Inc. | 5/16/2003 | 76514920 | 6/15/2004 | 2853016 | ||||||
| GENTLE CARE | BNG Enterprises, | Herbal Brands, Inc. | 2/24/2003 | 76491738 | 6/7/2005 | 2960253 | ||||||
| CLEANSING COCKTAIL | BNG Enterprises, | Herbal Brands, Inc. | 2/4/2004 | 78362601 | 1/31/2006 | 3056647 | ||||||
| BUTT DUST | BNG Enterprises, | Herbal Brands, Inc. | 6/9/2006 | 78904595 | 7/3/2007 | 3258229 | ||||||
| KEESTER KREAM | BNG Enterprises, | Herbal Brands, Inc. | 6/2/2006 | 78899620 | 4/1/2008 | 3407614 | ||||||
| GENTLE CARE | BNG Enterprises, | Herbal Brands, Inc. | 8/15/2007 | 77256343 | 6/3/2008 | 3439690 | ||||||
| SIMPLY SLENDER LEMONMADE DIET | BNG Enterprises, | Herbal Brands, Inc. | 11/6/2007 | 77322752 | 12/16/2008 | 3547936 | ||||||
| ASSURE DETOX | ACME Wholesale, | Herbal Brands, Inc. | 5/29/2008 | 77486563 | 11/3/2009 | 3706285 | ||||||
| ELIMINEX | BNG Enterprises, | Herbal Brands, Inc. | 1/4/2010 | 77904716 | 8/3/2010 | 3828156 | ||||||
| RELY | ACME Wholesale, | Herbal Brands, Inc. | 8/15/2008 | 77548626 | 12/7/2010 | 3886799 | ||||||
| QTABS | BNG Enterprises, | Herbal Brands, Inc. | 7/24/2012 | 85685885 | 4/15/2014 | 4513293 | ||||||
| PURITEX | BNG Enterprises, | Herbal Brands, Inc. | 8/14/2015 | 86725995 | 11/7/2017 | 5330195 | ||||||
| ERASE+DETOX | BNG Enterprises, | Herbal Brands, Inc. | 8/14/2015 | 86725999 | 11/7/2017 | 5330196 | ||||||
| QUICK TABS | BNG Enterprises, | Herbal Brands, Inc. | 10/10/1995 | 75003297 | 1/6/1998 | 2127630 | ||||||
| CHEEKY CLEAN | BNG Enterprises, | Herbal Brands, Inc. | 8/21/2006 | 78956938 | 12/4/2007 | 3350403 | ||||||
| FOOT Xx-XXXX | BNG Enterprises, | Herbal Brands, Inc. | 11/17/2017 | 87690092 | Pending | Pending | ||||||
| FOOT Xx-XXXX | BNG Enterprises, | Herbal Brands, Inc. | 11/17/2017 | 87690103 | Pending | Pendings | ||||||
| SIMPLY SLENDER | BNG Enterprises, | Herbal Brands, Inc. | 1/17/2018 | 87759207 | Pending | Pending | ||||||
| SIMPLY SLENDER | BNG Enterprises, | Herbal Brands, Inc. | 1/17/2018 | 87759237 | Pending | Pending | ||||||
| FUSION FORMULATIONS | Fusion Formulations, Inc. (name corrected to | Herbal Brands, Inc. | 12/11/2007 | 77349390 | 5/5/2009 | 3616950 |
