SECURITY AGREEMENT
Exhibit 4.2
THE LIEN CREATED BY THIS AGREEMENT ON THE PROPERTY DESCRIBED HEREIN IS JUNIOR AND SUBORDINATE TO
THE LIEN ON SUCH PROPERTY CREATED BY ANY SIMILAR INSTRUMENT NOW OR HEREAFTER GRANTED TO THE FIRST
PRIORITY REPRESENTATIVE AND/OR THE SECOND LIEN COLLATERAL AGENT, AND THEIR RESPECTIVE SUCCESSORS
AND ASSIGNS, IN SUCH PROPERTY, IN ACCORDANCE WITH THE PROVISIONS OF (1) THAT CERTAIN INTERCREDITOR
AGREEMENT DATED AS OF AUGUST 4, 2009 AMONG BANK OF AMERICA, N.A., AS FIRST PRIORITY ADMINISTRATIVE
AGENT AND FIRST PRIORITY COLLATERAL AGENT, CREDIT SUISSE, AS SECOND LIEN COLLATERAL AGENT, U.S.
BANK NATIONAL ASSOCIATION, AS THIRD LIEN COLLATERAL AGENT, AND THE LOAN PARTIES REFERRED TO
THEREIN, AS AMENDED FROM TIME TO TIME AND (2) THAT CERTAIN INTERCREDITOR AGREEMENT DATED AS OF
AUGUST 4, 2009 AMONG CREDIT SUISSE, AS SECOND LIEN COLLATERAL AGENT, U.S. BANK NATIONAL
ASSOCIATION, AS THIRD LIEN COLLATERAL AGENT, AND THE LOAN PARTIES REFERRED TO THEREIN, AS AMENDED
FROM TIME TO TIME.
SECURITY AGREEMENT
THIS SECURITY AGREEMENT (this “Security Agreement”), dated as of August 4, 2009, is
made by and among COMMERCIAL VEHICLE GROUP, INC., a Delaware corporation (the “Company”),
CABARRUS PLASTICS, INC., a North Carolina corporation, CVG CS LLC, a Delaware limited liability
company, CVG MANAGEMENT CORPORATION, a Delaware corporation, CVG LOGISTICS LLC, a Delaware limited
liability company, CVG EUROPEAN HOLDINGS, LLC, a Delaware limited liability company, CVG OREGON,
LLC, a Delaware limited liability company, CVS HOLDINGS, INC., a Delaware corporation, MAYFLOWER
VEHICLE SYSTEMS, LLC, a Delaware limited liability company, MONONA CORPORATION, a Delaware
corporation, MONONA WIRE CORPORATION, an Iowa corporation, MONONA (MEXICO) HOLDINGS LLC, an
Illinois limited liability company, NATIONAL SEATING COMPANY, a Delaware corporation, XXXXXXX
DEVICES, INC., a Delaware corporation, TRIM SYSTEMS, INC., a Delaware corporation, TRIM SYSTEMS
OPERATING CORP., a Delaware corporation, each of the other entities which becomes a party hereto
pursuant to Section 9.14 hereof (each of the foregoing, including the Company, a
“Grantor” and collectively, the “Grantors”), and U.S. BANK NATIONAL ASSOCIATION, as
collateral agent for the Holders (as defined below) and the Trustee (as defined below) (in such
capacity and together with any successor collateral agent, the “Collateral Agent”).
RECITALS
A Pursuant to that certain Indenture, dated as of the date hereof (as amended, amended and
restated, supplemented, restated or otherwise modified from time to time, the “Indenture”),
among the Grantors, and U.S. Bank National Association, as the trustee thereunder (in such
capacity, the “Trustee”), (i) the Company has agreed to issue certain notes (such notes,
together with all other notes issued under the Indenture and notes issued in exchange therefor, the
“Notes”) (the holders of the Notes (and their successors and permitted assignees) are
herein called the “Holders”) and (ii) the Grantors (other than the Company) have agreed to
guarantee to obligations of the Company under the Notes, in each case upon the terms and subject to
the conditions set forth therein.
B. Pursuant to the Indenture, all of the obligations of the Grantors under the Indenture shall
be secured as provided in this Security Agreement, subject to the terms, conditions, and provisions
of the Intercreditor Agreements (as defined below).
C. Each Grantor will obtain benefits from the purchase of the Notes by the Holders from the
Company and, accordingly, each Grantor desires to execute this Security Agreement in order to
satisfy the condition described in the preceding paragraph and to induce the Holders to purchase
the Notes from the Company.
AGREEMENT
NOW, THEREFORE, in consideration of the above recitals and for other good and valuable
consideration, the receipt and adequacy of which are hereby acknowledged, each of the Grantors
hereby agree with the Collateral Agent as follows:
SECTION 1. Definitions and Interpretation. When used in this Security Agreement, the
following terms shall have the following respective meanings:
“Account” as defined in the UCC, including all rights to payment for goods sold or
leased, or for services rendered.
“Account Debtor” a Person who is obligated under an Account, Chattel Paper or General
Intangible.
“Bankruptcy Code” Title 11 of the United States Code, as amended from time to time or
any applicable bankruptcy, insolvency or other similar law now or hereafter in effect.
“Company” as defined in the preamble to this Security Agreement.
“Collateral” all Property described in Section 2.1, all Property described in
any Security Documents as security for any Secured Obligations, and all other Property that now or
hereafter secures any Secured Obligations; provided, that, in no event shall the term “Collateral”
include any Excluded Collateral.
“Copyright Security Agreement” each copyright security agreement pursuant to which a
Grantor grants to the Collateral Agent, for the benefit of the Secured Parties, a Lien on such
Grantor’s interests in its copyrights, as security for the Secured Obligations.
“Distribution” (1) the declaration or payment of any dividends or any other
distributions of any sort in respect of any Equity Interest (including any payment in connection
with any merger or consolidation) or similar payment to the direct or indirect holders of any
Equity Interest (other than (A) dividends or distributions payable solely in Equity Interests, (B)
dividends or distributions payable solely to a Grantor and (C) pro rata dividends or other
distributions made by a subsidiary that is not a wholly owned subsidiary to minority stockholders
(or owners of an equivalent interest in the case of a subsidiary that is an entity other than a
corporation)); or (2) the purchase, repurchase, redemption, defeasance or other acquisition or
retirement for value of any Equity Interest, including in connection with any merger or
consolidation and including the exercise of any option to exchange any Equity Interest.
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“Dominion Account” a special account established by the Grantors at Bank of America,
N.A. or another bank acceptable to the First Priority Representative, over which the Collateral
Agent (or the First Lien Collateral Agent or the Second Lien Collateral Agent, in each case on
behalf of the Collateral Agent) has control (as defined in the UCC).
“Equity Interest” the interest of any (a) shareholder in a corporation, company, or
beneficial interests in a trust or other equity ownership interest of a Person and any warrants,
options, or other rights entitling the holder thereof to purchase or acquire any such equity
interest; (b) partner in a partnership (whether general, limited, limited liability or joint
venture); (c) member in a limited liability company; or (d) other Person having any other form of
equity security or ownership interest.
“Event of Default” the occurrence or existence of any “Event of Default” under and as
defined in the Indenture.
“First Lien Intercreditor Agreement” the Intercreditor Agreement, dated on or about
the date hereof, by and among the Company, the Subsidiary Guarantors party thereto from time to
time, the First Priority Representative, the Second Lien Collateral Agent and the Third Lien
Collateral Agent, as amended, amended and restated, supplemented, restated or otherwise modified
from time to time.
“First Priority Obligations” shall have the meaning assigned thereto in the First Lien
Intercreditor Agreement.
“First Priority Representative” has the meaning set forth in the First Lien
Intercreditor Agreement.
“Foreign Subsidiary” a Subsidiary that is a “controlled foreign corporation” under
Section 957 of the Code.
“Governmental Approvals” all authorizations, consents, approvals, licenses and
exemptions of, registrations and filings with, and required reports to, all Governmental
Authorities.
“Governmental Authority” any federal, state, municipal, foreign or other governmental
department, agency, commission, board, bureau, court, tribunal, instrumentality, political
subdivision, local authority, council, regulatory body or other entity or officer exercising
executive, legislative, judicial, regulatory or administrative functions for or pertaining to any
government or court, in each case whether associated with the United States, a state, district or
territory thereof or a foreign entity or government.
“Intellectual Property” all intellectual and similar Property of a Person, including
inventions, designs, patents, copyrights, trademarks, service marks, trade names, trade secrets,
confidential or proprietary information, customer lists, know-how, design rights, software and
databases; all embodiments or fixations thereof and all related documentation, applications,
registrations and franchises; all licenses or other rights to use any of the foregoing; and all
books and records relating to the foregoing.
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“Intellectual Property Claim” any claim or assertion (whether in writing, by suit or
otherwise) that a Grantor’s or its Subsidiary’s ownership, use, marketing, sale or distribution of
any Inventory, Equipment, Intellectual Property or other Property violates another Person’s
Intellectual Property.
“Intercreditor Agreements” collectively, the First Lien Intercreditor Agreement and
the Second Lien Intercreditor Agreement.
“License” any license or agreement under which a Grantor is authorized to use
Intellectual Property in connection with (a) any manufacture, marketing, distribution or
disposition of Collateral, (b) any use of Property or (c) any other conduct of its business.
“Licensor” any Person from whom a Grantor obtains the right to use any Intellectual
Property.
“Lien Waiver” an agreement, in form and substance reasonably satisfactory to the First
Priority Representative, by which (a) for any Collateral located on leased premises, the lessor
waives or subordinates any Lien it may have on the Collateral, and agrees to permit the Collateral
Agent to enter upon the premises and remove the Collateral or to use the premises to store or
dispose of the Collateral; (b) for any Collateral held by a warehouseman, processor, shipper,
customs broker or freight forwarder, such Person waives or subordinates any Lien it may have on the
Collateral, agrees to hold any Documents in its possession relating to the Collateral as agent for
the First Priority Representative or Second Lien Collateral Agent on behalf of the Collateral
Agent, as applicable,, and agrees to deliver the Collateral to the First Priority Representative
promptly following request; (c) for any Collateral held by a repairman, mechanic or bailee, such
Person acknowledges the Collateral Agent’s Lien, waives or subordinates any Lien it may have on the
Collateral, and agrees to deliver the Collateral to the First Priority Representative or Second
Lien Collateral Agent on behalf of the Collateral Agent, as applicable, promptly following
request; and (d) for any Collateral subject to a Licensor’s Intellectual Property rights, the
Licensor grants to the First Priority Representative or Second Lien Collateral Agent on behalf of
the Collateral Agent, as applicable, the right, vis-à-vis such Licensor, to enforce the Collateral
Agent’s Liens with respect to the Collateral, including the right to dispose of it with the benefit
of the Intellectual Property, whether or not a default exists under any applicable License.
Notwithstanding anything to the contrary, any Lien Waiver acceptable to the First Priority
Representative shall satisfy the terms of “Lien Waiver.”
“Material Adverse Effect” the effect of any event or circumstance that, taken alone or
in conjunction with other events or circumstances, (a) has or could be reasonably expected to have
a material adverse effect on the business, operations, Properties or financial condition of the
Grantors, taken as a whole, on the value of a material portion of the Collateral, on the
enforceability of the Note Documents, or on the validity or priority of the Collateral Agent’s
Liens on the Collateral; (b) materially impairs the ability of any Grantor to perform any
obligations under the Note Documents, including repayment of any Secured Obligations; or (c)
otherwise impairs the ability of the Collateral Agent or any Holder to enforce or collect any
Secured Obligations or to realize upon any Collateral.
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“Material Contract” any agreement or arrangement to which a Grantor is party (other
than the Note Documents) for which breach, termination, nonperformance or failure to renew could
reasonably be expected to have a Material Adverse Effect.
“Mortgage” each mortgage, fixed charge, deed of trust or deed to secure debt pursuant
to which a Grantor grants to the Collateral Agent, for the benefit of Secured Parties, a Lien upon
the Real Estate owned by such Grantor, as security for the Secured Obligations.
“Organic Documents” with respect to any Person, as applicable, its charter,
certificate or articles of incorporation, bylaws, articles of organization, articles of
association, memorandum, limited liability agreement, operating agreement, members agreement,
shareholders agreement, partnership agreement, certificate of partnership, certificate of
formation, voting trust agreement, or similar agreement or instrument governing the formation or
operation of such Person.
“Patent Security Agreement” each patent security agreement pursuant to which a Grantor
grants to the Collateral Agent, for the benefit of the Secured Parties, a Lien on such Grantor’s
interests in its patents, as security for the Secured Obligations.
“Payment Item” each check, draft or other item of payment payable to a Grantor,
including those constituting proceeds of any Collateral.
“Property” any interest in any kind of property or asset, whether real, personal or
mixed, or tangible or intangible.
“Real Estate” all right, title and interest (whether as owner, lessor or lessee) in
any real Property or any buildings, structures, parking areas or other improvements thereon.
“Related Real Estate Documents” with respect to any Real Estate subject to a Mortgage,
the following, in form and substance reasonably satisfactory to the First Priority Representative:
(a) a mortgagee title policy (or binder therefor) covering the Collateral Agent’s interest under
the Mortgage, in a form and amount and by an insurer acceptable to the Collateral Agent, which must
be fully paid on such effective date; (b) such assignments of leases, estoppel letters, attornment
agreements, consents, waivers and releases as the Collateral Agent may request with respect to
other Persons having an interest in the Real Estate; (c) a current, as-built survey of the Real
Estate, containing a metes-and-bounds property description and flood plain certification, and
certified by a licensed surveyor; (d) flood insurance in an amount, with endorsements and by an
insurer reasonably acceptable to the First Priority Representative, if the Real Estate is within a
flood plain; (e) a current appraisal of the Real Estate, prepared by an appraiser acceptable to the
Collateral Agent, and in form and substance satisfactory to Holders of at least a majority in
principal amount of the Notes then outstanding; (f) if available, an environmental assessment,
prepared by environmental engineers acceptable to the Collateral Agent, and accompanied by such
reports, certificates, studies or data as the Collateral Agent may reasonably request, which shall
all be in form and substance satisfactory to the Holders of at least a majority in principal amount
of the Notes then outstanding; and (g) an environmental agreement and such other documents,
instruments or agreements as the Collateral Agent may reasonably require with respect to any
environmental risks regarding the Real Estate. Notwithstanding anything to the
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contrary, any Related Real Estate Documents acceptable to the First Priority Representative
shall satisfy the terms of “Related Real Estate Documents.”
“Restrictive Agreement” an agreement (other than a Note Document) that conditions or
restricts the right of any Grantor to incur or repay Indebtedness, to grant Liens on any assets, to
declare or make Distributions, to modify, extend or renew any agreement evidencing Indebtedness, or
to repay any intercompany Indebtedness.
“Second Lien Intercreditor Agreement” the Intercreditor Agreement, dated as of the
Issue Date, by and among the Company, the Subsidiary Guarantors party thereto, the Second Lien
Collateral Agent and the Third Lien Collateral Agent, as amended, amended and restated,
supplemented, restated or otherwise modified from time to time.
“Second Priority Obligations” shall have the meaning assigned thereto in the First
Lien Intercreditor Agreement.
“Secured Obligations” shall mean and include all Obligations (as defined in the
Indenture) of each of the Grantors under the Indenture and each of the other Note Documents,
including, without limitation, interest that accrues after the commencement of any bankruptcy or
other insolvency proceeding by or against such Grantor.
“Security Agreement” this Security Agreement and all exhibits and schedules hereto, as
the same may from time to time be amended, modified, supplemented or restated.
“Secured Parties” the Collateral Agent, the Trustee, and the Holders.
“Trademark Security Agreement” each trademark security agreement pursuant to which a
Grantor grants to the Collateral Agent, for the benefit of the Secured Parties, a Lien on such
Grantor’s interests in trademarks, as security for the Secured Obligations.
“UCC” the Uniform Commercial Code as the same may, from time to time, be in effect in
the State of New York; provided, however, in the event that, by reason of mandatory
provisions of Governmental Rules, any or all of the attachment, perfection or priority of the
Collateral Agent’s security interest in any collateral is governed by the Uniform Commercial Code
as in effect in a jurisdiction other than the State of New York, the term “UCC” shall mean the
Uniform Commercial Code as in effect in such other jurisdiction for purposes of the provisions
hereof relating to such attachment, perfection or priority and for purposes of definitions related
to such provisions.
Unless otherwise defined herein, all other capitalized terms used herein and defined in the
Indenture shall have the respective meanings given to those terms in the Indenture, and all terms
defined in the UCC shall have the respective meanings given to those terms in the UCC. The rules
of interpretation set forth in Article I of the Indenture shall, to the extent not inconsistent
with the terms of this Security Agreement, apply to this Security Agreement and are hereby
incorporated by reference.
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SECTION 2. Collateral.
2.1 Grant of Security Interest. To secure the prompt payment and performance of all
Secured Obligations, each Grantor hereby grants to the Collateral Agent for the benefit of Secured
Parties, a continuing security interest in and Lien upon all Property of such Grantor, including
all of the following Property, whether now owned or hereafter acquired, and wherever located:
(a) all Accounts;
(b) all Chattel Paper, including electronic chattel paper;
(c) all Commercial Tort Claims listed on Schedule 2.1 (as amended from time to time);
(d) all Deposit Accounts;
(e) all Documents;
(f) all General Intangibles, including Intellectual Property (excluding intent to use
trademark applications and contracts that prohibit the granting of security interests or
encumbrances);
(g) all Goods, including Inventory, Equipment and fixtures;
(h) all Instruments;
(i) all Investment Property;
(j) all Letter-of-Credit Rights;
(k) all Supporting Obligations;
(l) all monies, whether or not in the possession or under the control of the Collateral Agent,
the Trustee, a Holder, or a bailee or Affiliate of the Collateral Agent, the Trustee or a Holder;
(m) all accessions to, substitutions for, and all replacements, products, and cash and
non-cash proceeds of the foregoing, including proceeds of and unearned premiums with respect to
insurance policies, and claims against any Person for loss, damage or destruction of any
Collateral; and
(n) all books and records (including customer lists, files, correspondence, tapes, computer
programs, print-outs and computer records) pertaining to the foregoing.
Notwithstanding the foregoing, in no event shall any of the following Property be subject to the
grant of security pursuant to this Section 2.1 or otherwise constitute Collateral: (i) all
motor vehicles and other assets the perfection of a security interest in which is excluded from the
UCC
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in the relevant jurisdiction; (ii) any General Intangible or other rights arising under contracts,
Instruments, licenses, license agreements (including Licenses) or other documents, to the extent
(and only to the extent) that the grant of a security interest would (x) constitute a violation of
a restriction in favor of a third party on such grant, unless and until any required consents shall
have been obtained, (y) give any other party the right to terminate its obligations thereunder, or
(z) violate any law, provided, however, that (1) any portion of any such General
Intangible or other right shall cease to be excluded pursuant to this clause (ii) at the time and
to the extent that the grant of a security interest therein does not result in any of the
consequences specified above and (2) the limitation set forth in this clause (ii) above shall not
affect, limit, restrict or impair the grant by a Grantor of a security interest pursuant to this
Security Agreement in any such General Intangible or other right, to the extent that an otherwise
applicable prohibition or restriction on such grant is rendered ineffective by any applicable law,
including the UCC, (iii) Property (and proceeds thereof) owned by any Grantor on the date hereof or
hereafter acquired that is subject to a Lien securing a purchase money obligation or Capital Lease
Obligation permitted to be incurred pursuant to the Indenture, for so long as the contract or other
agreement in which such Lien is granted (or the documentation providing for such purchase money
obligation or Capital Lease Obligation) validly prohibits the creation of any other Lien on such
Property; (iv) applications filed in the United States Patent and Trademark Office to register
trademarks or service marks on the basis of any Grantor’s “intent to use” such trademarks or
service marks unless and until the filing of a “Statement of Use” or “Amendment to Allege Use” has
been filed and accepted, whereupon such applications shall be automatically subject to the Lien
granted herein and deemed included in the Collateral; (v) any property or assets to the extent that
such grant of a security interest is prohibited by any applicable law, or requires a consent not
obtained of any Governmental Authority pursuant to such applicable law; (vi) more than 65% of the
Equity Interests of any Foreign Subsidiary which represent Voting Stock to the extent a greater
percentage would result in adverse tax consequences to the Grantors; (vii) all tax, payroll,
employee benefit, fiduciary and trust accounts; or (viii) accounts receivable and any assets
related thereto owned by a Recevables Subsidiary or which the Company or its Subsidiaries have
agreed to transfer to a Receivables Subsidiary (clauses (i) through (viii) collectively, the
“Excluded Collateral”). Furthermore, any assets or Property constituting “Excluded
Collateral” are expressly excluded from each term used in the definition of Collateral (and any
component definition thereof).
2.2 Lien on Deposit Accounts. To further secure the prompt payment and performance of
all Secured Obligations, each Grantor hereby grants to the Collateral Agent, for the benefit of
Secured Parties, a continuing security interest in and Lien upon all amounts credited to any
Deposit Account of such Grantor, including any sums in any blocked or lockbox accounts or in any
accounts into which such sums are swept.
2.3 Real Estate Collateral.
(a) Lien on Real Estate. The Secured Obligations shall also be secured by Mortgages
upon all owned Real Estate owned by the Grantors, as listed on Schedule 2.3(a) hereto. The
Mortgages shall be duly recorded, at Company’s expense, in each office where such recording is
required to constitute a fully perfected Lien on the Real Estate covered thereby. If any Grantor
acquires any owned Real Estate hereafter, such Grantor shall, promptly notify the Collateral Agent
of such acquisition and shall, within 45 days of the Second Lien
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Collateral Agent’s or the First Priority Representative’s request, execute, deliver and record
a Mortgage sufficient to create a third priority Lien (subject to Permitted Liens) in favor of the
Collateral Agent on such Real Estate, and shall promptly deliver all Related Real Estate Documents.
(b) Collateral Assignment of Leases. To further secure the prompt payment and
performance of all Secured Obligations, each Grantor hereby grants a security interest and
collaterally assigns to the Collateral Agent, for the benefit of the Secured Parties, all of such
Grantor’s right, title and interest in, to and under all now or hereafter existing leases of real
Property to which such Grantor is a party, whether as lessor or lessee, and all extensions,
renewals, modifications and proceeds thereof; provided, however, the foregoing provision
shall exclude any real Property lease (i) in which such Grantor is expressly prohibited from
assigning or transferring its right, title and interest to such real Property lease or (ii) in
which such collateral assignment or grant of security interest would cause a default thereunder, a
loss of rights by such Grantor therein or thereunder or an increase in the obligations of such
Grantor (other than an obligation to provide notice or other ministerial acts); provided,
further that in the event consent is obtained for such assignment and/or transfer, upon the
granting of the consent, the real Property lease so excluded from this collateral assignment shall,
by virtue of this proviso (without any act or delivery by any Person), be then subject to the
collateral assignment set forth in this Section 2.3(b).
2.4 Other Collateral.
(a) Commercial Tort Claims. The Grantors shall promptly notify the Collateral Agent
in writing if any Grantor obtains knowledge that it holds a Commercial Tort Claim (other than, as
long as no Default or Event of Default exists, a Commercial Tort Claim for less than $1,000,000)
and, upon the Second Lien Collateral Agent’s or the First Priority Representative’s request, shall
promptly take such actions as the Second Lien Collateral Agent or the First Priority
Representative, as applicable, requests to confer upon the Collateral Agent (for the benefit of
Secured Parties) a duly perfected Lien (subject to Permitted Liens) upon such claim.
(b) Certain After-Acquired Collateral. The Grantors shall promptly notify the
Collateral Agent in writing if, after the date hereof, any Grantor obtains any interest in any
Collateral consisting of Deposit Accounts, Chattel Paper, Documents, Instruments, Investment
Property or Letter-of-Credit Rights, and, upon the Second Lien Collateral Agent’s or the First
Priority Representative’s request, shall promptly take such actions as the Second Lien Collateral
Agent or the First Priority Representative, as applicable, requests to effect the Collateral
Agent’s duly perfected third priority Lien (subject to Permitted Liens) upon such Collateral (which
is not yet subject to a Lien in favor of the Collateral Agent), including obtaining any appropriate
possession, control agreement or Lien Waiver (or by providing such possession to the First Priority
Representative or Second Lien Collateral Agent on behalf of the Collateral Agent, as applicable).
Grantors shall provide the Collateral Agent, on a quarterly basis, notification of any Intellectual
Property or rights therein obtained since the last day of the previous fiscal quarter, including
the owner of such Intellectual Property and a detailed description thereof. If any Collateral
(other than (i) Property in transit among locations of the Grantors, (ii) Inventory out for
processing, and (iii) Property out for repair or refurbishment or
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Property in the possession of employees in the ordinary course of business, in each case with
respect to this clause (iii), valued at less then $500,000), is in the possession of a third party,
at the Collateral Agent’s request, the Grantors shall use commercially reasonable efforts to obtain
an acknowledgment that such third party holds the Collateral for the benefit of the Collateral
Agent.
2.5 No Assumption of Liability. The Lien on Collateral granted hereunder is given as
security only and shall not subject the Collateral Agent or any Holder to, or in any way modify,
any obligation or liability of the Grantors relating to any Collateral.
2.6 Further Assurances. Promptly following written request, each Grantor shall
deliver such instruments, collateral assignments, or other documents or agreements, and shall take
such actions, as the Collateral Agent requests under applicable law to evidence or perfect its Lien
on any Collateral, or otherwise to give effect to the intent of this Security Agreement. Each
Grantor authorizes the Collateral Agent to file any financing statement that indicates the
Collateral as “all assets” or “all personal property” of such Grantor, or words to similar effect.
2.7 Foreign Subsidiary Stock. The Collateral shall include only 65% of the Voting
Stock of any Foreign Subsidiary.
SECTION 3. Collateral Administration.
3.1 Administration of Accounts.
(a) Account Verification. Whether or not a Default or Event of Default exists, the
Collateral Agent shall have the right at any time, in the name of the Collateral Agent, any
designee of the Collateral Agent or any Grantor, to verify the validity, amount or any other matter
relating to any Accounts of the Grantors by mail, telephone or otherwise. Each Grantor shall
cooperate fully with the Collateral Agent in an effort to facilitate and promptly conclude any such
verification process.
(b) Maintenance of Dominion Account. Each Grantor shall maintain Dominion Accounts
pursuant to lockbox or other arrangements reasonably acceptable to the Collateral Agent. Each
Grantor shall obtain an agreement (in form and substance reasonably satisfactory to the Collateral
Agent or the First Priority Representative, as applicable) from each lockbox servicer and Dominion
Account bank, establishing the Collateral Agent’s (or the First Priority Representative’s or Second
Lien Collateral Agent’s, as applicable) control over and Lien in the lockbox or Dominion Account,
which shall be exercised at all times, requiring immediate deposit of all remittances received in
the lockbox to a Dominion Account, and waiving or subordinating offset rights of such servicer or
bank, except for customary administrative charges; provided, however, that upon the upon the
occurrence of the First Priority Obligations Payment Date, the agreements from each lockbox
servicer and Dominion Account bank, establishing the Collateral Agent’s control over and Lien in
the lockbox or Dominion Account shall be amended and restated such that the lockboxes and Dominion
Accounts are no longer subject to a complete blockage and the Collateral Agent shall not sweep any
proceeds in such lockbox or Dominion Account unless an Event of Default shall have occurred and be
continuing. The Grantors may
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maintain a balance of no more than $500,000 at any time in its master disbursement account.
The Collateral Agent and the Holders assume no responsibility to the Grantors for any lockbox
arrangement or Dominion Account, including any claim of accord and satisfaction or release with
respect to any Payment Items accepted by any bank.
(c) Proceeds of Collateral. The Grantors shall request in writing and otherwise take
all necessary steps to ensure that all payments on Accounts or otherwise relating to Collateral are
made directly to a Dominion Account (or a lockbox relating to a Dominion Account). If any Grantor
or Subsidiary receives cash or Payment Items with respect to any Collateral, it shall hold same in
trust for the Collateral Agent and promptly (not later than the next Business Day) deposit same
into a Dominion Account. Notwithstanding anything to the contrary contained herein, the Grantors
shall be entitled to maintain amounts of cash and Temporary Cash Investments in xxxxx cash (in an
aggregate amount for all such accounts not to exceed $500,000), trust, tax, employee benefit and
payroll accounts which are not Dominion Accounts.
3.2 Administration of Inventory.
(a) Records and Reports of Inventory. Each Grantor shall keep accurate and complete
records of its Inventory, including costs and daily withdrawals and additions, and shall submit to
the Collateral Agent inventory and reconciliation reports in form satisfactory to the Collateral
Agent, on such periodic basis as the Collateral Agent may request. Each Grantor shall conduct a
physical inventory in time and manner consistent with such Grantor’s past practices (and on a more
frequent basis if requested by the Collateral Agent when an Event of Default exists) and periodic
cycle counts consistent with historical practices, and shall provide to the Collateral Agent a
report based on each such inventory and count promptly upon completion thereof, together with such
supporting information as the Collateral Agent may request. The Collateral Agent may participate
in and observe each physical count; provided, that so long as no Event of Default is
continuing, the Collateral Agent shall be reimbursed for its reasonable charges, costs and expenses
in connection with its participation in and observance of a physical count only once per calendar
year. During an Event of Default, all reasonable charges, costs and expenses in connection with
Collateral Agent’s participations in and observances of physical counts shall be reimbursed by
Grantors without regard to the limits in the immediately preceding sentence. Notwithstanding
anything to the contrary contained in this Section 3.2(a), the Grantors’ obligations under
this paragraph to prepare and deliver any reports, schedules or supporting information may be
satisfied by the prompt delivery by the Company to the Collateral Agent of the comparable schedules
delivered to the First Priority Representative or Second Lien Collateral Agent, as applicable,
pursuant to the Credit Agreement or Second Lien Term Loan Agreement, as applicable.
(b) Acquisition, Sale and Maintenance. Each Grantor shall take all steps to assure
that all Inventory is produced in accordance with applicable law, including the Fair Labor
Standards Act of 1938, in each case except to the extent failure to comply with any applicable law
could not result in a Material Adverse Effect. No Grantor shall sell any Inventory on consignment
or approval or any other basis under which the customer may return or require a Grantor to
repurchase such Inventory, except in the ordinary course of business. Each Grantor shall use,
store and maintain all Inventory with reasonable care and caution, in accordance with
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applicable standards of any insurance and in conformity in all material respects with all
applicable law and shall make current rent payments (within applicable grace periods provided for
in leases) at all location where any material portion of the Collateral is located.
3.3 Administration of Equipment.
(a) Records and Schedules of Equipment. Each Grantor shall keep accurate and complete
records of its Equipment, including kind, quantity, cost, acquisitions and dispositions thereof,
and shall submit to the Collateral Agent, on such periodic basis as the Second Lien Collateral
Agent or First Priority Representative may request, a current schedule thereof, in form and
containing such detail as is satisfactory to the Second Lien Collateral Agent or First Priority
Representative. Promptly upon request, each Grantor shall deliver to the Collateral Agent evidence
of their ownership or interests in any Equipment. Notwithstanding anything to the contrary
contained in this Section 3.3(a), the Grantors’ obligations under this paragraph to prepare
and deliver any reports, schedules or supporting information may be satisfied by the prompt
delivery by the Company to the Collateral Agent of the comparable schedules delivered to the First
Priority Representative or the Second Lien Collateral Agent, as applicable, pursuant to the Credit
Agreement or Second Lien Term Loan Agreement, as applicable.
(b) [Reserved].
(c) Condition of Equipment. The Equipment is in satisfactory operating condition and
repair, and all necessary replacements and repairs have been made so that the value and operating
efficiency of the Equipment is preserved at all times, reasonable wear, tear, casualty and
condemnation excepted. No Grantor shall permit any Equipment to become affixed to real Property
unless any landlord or mortgagee delivers a Lien Waiver.
3.4 Administration of Deposit Accounts. Schedule 3.4 sets forth all Deposit
Accounts maintained by the Grantors, including all Dominion Accounts as of the date hereof.
Subject to Section 3.1(b), each Grantor shall take all actions necessary to establish the
Collateral Agent’s control (or the First Lien Collateral Agent’s control or the Second Lien
Collateral Agent’s control, in each case on behalf of Collateral Agent) of each such Deposit
Account (other than an account exclusively used for payroll, payroll taxes, taxes, or employee
benefits, or an account containing not more that $10,000 at any time (subject to the limitations in
Section 3.1(c))). Each Grantor shall be the sole account holder of each Deposit Account
and shall not allow any other Person (other than the Collateral Agent, First Lien Collateral Agent
and Second Lien Collateral Agent) to have control over a Deposit Account or any Property deposited
therein. Each Grantor shall promptly notify the Collateral Agent of any opening or closing of a
Deposit Account and, with the consent of the Collateral Agent, will amend Schedule 3.4 to
reflect same; provided, however, that to the extent the First Priority Representative consents to
the amendment of the corresponding schedule in the Credit Agreement, the Collateral Agent’s consent
shall be deemed given hereunder.
3.5 General Provisions.
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(a) Location of Collateral. All tangible items of Collateral, other than Property (i)
in transit, (ii) out for processing, or (iii) out for repair, refurbishment, processing, or in the
possession of employees in the ordinary course of business and in each case with respect to this
clause (iii) valued at less than $500,000, shall at all times other than in the ordinary course of
business be kept by the Grantors at the business locations set forth in Schedule 3.5 (as
amended from time to time) except that the Grantors may (a) make sales or other dispositions of
Collateral in accordance with Section 4.06 of the Indenture; and (b) (i) move Collateral to
any location in the United States, and (ii) move Collateral located in the United Kingdom or member
state of the European Union to another location in the United Kingdom, member state of the European
Union or the United States, in each case upon five Business Days prior written notice to the
Collateral Agent.
(b) Insurance of Collateral; Condemnation Proceeds.
(i) Each Grantor shall maintain insurance with respect to the Collateral, covering casualty,
hazard, theft, malicious mischief, flood and other risks, in amounts, with endorsements and with
insurers (with a Best Rating of at least A7, unless otherwise approved by the Collateral Agent)
satisfactory to the Collateral Agent. The Collateral Agent agrees that the insurance maintained by
each Grantor on the date hereof satisfies this Section 3.5(b). All proceeds under each
policy shall be payable to the Collateral Agent. From time to time upon request, the Grantors
shall promptly following such request, deliver to the Collateral Agent the certified copies of
their respective insurance policies and updated flood plain searches. Unless the Collateral Agent
shall agree otherwise, each policy shall include satisfactory endorsements (i) showing the
Collateral Agent as loss payee; (ii) to the extent available requiring 30 days prior written notice
to the Collateral Agent in the event of cancellation of the policy for any reason whatsoever; and
(iii) to the extent available specifying that the interest of the Collateral Agent shall not be
impaired or invalidated by any act or neglect of any Grantor or the owner of the Property, nor by
the occupation of the premises for purposes more hazardous than are permitted by the policy. If
any Grantor fails to provide and pay for any insurance, the Collateral Agent may, at its option,
but shall not be required to, procure the insurance and charge the Grantors therefor. Each Grantor
agrees to deliver to the Collateral Agent, promptly as rendered, copies of all reports made to
insurance companies. While no Event of Default exists, any Grantor may settle, adjust or
compromise any insurance claim as long as the proceeds are delivered to the Collateral Agent to the
extent and as required by Section 4.06 of the Indenture. If an Event of Default exists, only the
Collateral Agent shall be authorized to settle, adjust and compromise such claims.
(ii) Any proceeds of insurance (other than proceeds from workers’ compensation or D&O
insurance or business interruption insurance) and any awards arising from condemnation of any
Collateral shall be paid to the Collateral Agent to the extent and as required by Section 4.06 of
the Indenture.
(c) Protection of Collateral. All expenses of protecting, storing, warehousing,
insuring, handling, maintaining and shipping any Collateral, all taxes payable with respect to any
Collateral (including any sale thereof), and all other payments required to be made by the
Collateral Agent to any Person to realize upon any Collateral, shall be borne and paid by the
Grantors. The Collateral Agent shall not be liable or responsible in any way for the
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safekeeping of any Collateral, for any loss or damage thereto (except for reasonable care in
its custody while Collateral is in the Collateral Agent’s actual possession), for any diminution in
the value thereof, or for any act or default of any warehouseman, carrier, forwarding agency or
other Person whatsoever, but the same shall be at the Grantors’ sole risk.
(d) Defense of Title to Collateral. Each Grantor shall at all times defend its title
to the Collateral and the Collateral Agent’s Liens therein against all Persons, claims and demands
whatsoever, except Permitted Liens and other claims or demands permitted to exist hereunder.
3.6 Power of Attorney. Each Grantor hereby irrevocably constitutes and appoints the
Collateral Agent (and all Persons designated by the Collateral Agent) as such Grantor’s true and
lawful attorney (and agent-in-fact) for the purposes provided in this Section. The Collateral
Agent, or the Collateral Agent’s designee, may, without notice and in either its or a Grantor’s
name, but at the cost and expense of such Grantor:
(a) Endorse a Grantor’s name on any Payment Item or other proceeds of Collateral (including
proceeds of insurance) that come into the Collateral Agent’s possession or control in accordance
with the terms of the Note Documents; and
(b) During an Event of Default, (i) notify any Account Debtors of the assignment of their
Accounts, demand and enforce payment of Accounts by legal proceedings or otherwise, and generally
exercise any rights and remedies with respect to Accounts; (ii) settle, adjust, modify, compromise,
discharge or release any Accounts or other Collateral, or any legal proceedings brought to collect
Accounts or Collateral; (iii) sell or assign any Accounts and other Collateral upon such terms, for
such amounts and at such times as the Collateral Agent deems advisable; (iv) collect, liquidate and
receive balances in Deposit Accounts or investment accounts, and take control, in any manner, of
proceeds of Collateral; (v) prepare, file and sign a Grantor’s name to a proof of claim or other
document in a bankruptcy of an Account Debtor, or to any notice, assignment or satisfaction of Lien
or similar document; (vi) receive, open and dispose of mail addressed to a Grantor, and notify
postal authorities to deliver any such mail to an address designated by the Collateral Agent; (vii)
endorse any Chattel Paper, Document, Instrument, xxxx of lading, or other document or agreement
relating to any Accounts, Inventory or other Collateral; (viii) use a Grantor’s stationery and sign
its name to verifications of Accounts and notices to Account Debtors; (ix) to the extent a Grantor
has rights sufficient to allow the Collateral Agent to do so, use information contained in any data
processing, electronic or information systems relating to Collateral; (x) make and adjust claims
under insurance policies; (xi) take any action as may be necessary or appropriate to obtain payment
under any letter of credit, banker’s acceptance or other instrument for which a Grantor is a
beneficiary; and (xii) take all other actions as Agent deems appropriate to fulfill any Grantor’s
obligations under the Note Documents.
SECTION 4. Representations and Warranties. Each Grantor hereby represents and
warrants to the Collateral Agent, the Trustee and the Holders that as of the date hereof:
(a) Such Grantor is duly organized, validly existing and in good standing (if applicable)
under the laws of the jurisdiction of its organization. Such Grantor is
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duly qualified, authorized to do business and in good standing (if applicable) as a foreign
corporation or company in each jurisdiction where failure to be so qualified could reasonably be
expected to have a Material Adverse Effect.
(b) Such Grantor is duly authorized to execute, deliver and perform its Note Documents. The
execution, delivery and performance of the Note Documents have been duly authorized by all
necessary action, and do not (a) require any consent or approval of any holders of Equity Interests
of such Grantor, other than those already obtained; (b) contravene the Organic Documents of such
Grantor; (c) violate or cause a default under any applicable law, Material Contract or Restrictive
Agreement except to the extent such violation or default could not reasonably be expected to result
in a Material Adverse Effect; or (d) result in or require the imposition of any Lien (other than
Permitted Liens) on any Property of such Grantor.
(c) Each Note Document to which such Grantor is a party is a legal, valid and binding
obligation of such Grantor, enforceable in accordance with its terms, except as enforceability may
be limited by bankruptcy, insolvency or similar laws affecting the enforcement of creditors’ rights
generally.
(d) Such Grantor has good and marketable title to (or valid leasehold interests in) all of its
material Real Estate, and good and marketable title to all of its material personal Property, in
each case free of Liens except Permitted Liens and minor defects in title that do not interfere
with such Grantor’s ability to conduct its business as currently conducted or to utilize such
Property for its intended purposes. Such Grantor has paid and discharged all lawful claims that,
if unpaid, could become a Lien on its Properties, other than Permitted Liens. To the extent
required by the Note Documents, all Liens of the Collateral Agent in the Collateral are duly
perfected, valid and enforceable (subject to (i) the effect of bankruptcy, insolvency, fraudulent
conveyance and other similar laws and judicially developed doctrines in this area such as
substantive consolidation and equitable subordination; (ii) the effect of general principles of
equity and (iii) other commonly recognized statutory and judicial constraints on enforceability)
Liens, subject only to Permitted Liens and minor defects in title that do not interfere with its
ability to conduct its business as currently conducted or to utilize such Property for its intended
purposes; provided, however, that for registered United States trademarks, United States trademark
applications, United States patents, United States patent applications, and registered United
States copyrights, the security interest will be perfected upon filing, to the extent perfection of
a security interest can be accomplished by such a filing, of the Trademark Security Agreement with
the United States Patent and Trademark Office, the Patent Security Agreement with the United States
Patent and Trademark Office, or the Copyright Security Agreement with the United States Copyright
Office, and such perfected security interest is enforceable (subject to (i) the effect of
bankruptcy, insolvency, fraudulent conveyance and other similar laws and judicially developed
doctrines in this area such as substantive consolidation and equitable subordination; (ii) the
effect of general principles of equity and (iii) other commonly recognized statutory and judicial
constraints on enforceability) as such against any and all creditors of and purchasers from such
Grantor in the United States.
(e) Schedule 4(e) shows, for each Grantor, its name, its jurisdiction of organization,
its authorized and issued Equity Interests, the holders of its Equity Interests, and all agreements
binding on such holders with respect to their Equity Interests as of the date hereof.
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Except as disclosed on Schedule 4(e), in the five years preceding the date hereof, no
Grantor has acquired any substantial assets from any other Person nor been the surviving entity in
a merger or combination. Each Grantor has good title to its Equity Interests in its Subsidiaries,
subject only to the Collateral Agent’s Lien and other Permitted Liens, and all such Equity
Interests are duly issued, fully paid and non-assessable to the extent applicable. Except as set
forth on Schedule 4(e), as of the date hereof, there are no outstanding purchase options,
warrants, subscription rights, agreements to issue or sell, convertible interests, phantom rights
or powers of attorney relating to Equity Interests of any Grantor.
(f) Such Grantor owns or has the lawful right to use all Intellectual Property necessary for
the conduct of its business to the knowledge of such Grantor without infringing or misappropriating
any Intellectual Property rights of others except to the extent that such failure to own or have
such rights to use or any conflict would not reasonably be expected to result in a Material Adverse
Effect. There is no pending or, to any Grantor’s knowledge, threatened Intellectual Property Claim
with respect to any Grantor or any of their Property (including any Intellectual Property that
could reasonably be expected to have a Material Adverse Effect). Except as disclosed on
Schedule 4(f), no Grantor pays or owes any royalty or other compensation to any Person with
respect to any Intellectual Property (excluding “shrink-wrap”, “click-wrap”, or other
“off-the-shelf” software). All registered Intellectual Property owned by such Grantor is shown on
Schedule 4(f).
(g) Such Grantor, is in compliance with, and is in good standing with respect to, all
Governmental Approvals necessary to conduct its business and to own, lease and operate its
Properties except to the extent the failure to have such Governmental Approvals would not
reasonably be expected to result in a Material Adverse Effect. All necessary import, export or
other licenses, permits or certificates for the import or handling of any goods or other Collateral
have been procured and are in effect, and such Grantor and its Subsidiaries have complied with all
foreign and domestic laws with respect to the shipment and importation of any goods or Collateral,
except where noncompliance could not reasonably be expected to have a Material Adverse Effect.
(h) Compliance with Laws. Such Grantor and its Subsidiary have duly complied, and
their Properties and business operations are in compliance, in all material respects with all
applicable law, except where noncompliance could not reasonably be expected to have a Material
Adverse Effect. There have been no citations, notices or orders of material noncompliance issued
to such Grantor or its Subsidiary under any applicable law which could reasonably be expected to
have a Material Adverse Effect. No Inventory has been produced in violation of the Fair Labor
Standards Act of 1938.
SECTION 5. Rights and Remedies Upon Default.
(a) If any Event of Default shall occur and be continuing, the Collateral Agent may exercise,
in addition to all other rights and remedies granted to it under this Security Agreement, the
Indenture, the other Note Documents and under any other instrument or agreement securing,
evidencing or relating to the Secured Obligations, any other rights or remedies afforded under any
agreement, by law, at equity or otherwise, including the rights and remedies of a secured party
under the UCC. Such rights and remedies include the rights to (i)
16
take possession of any Collateral; (ii) require the Grantors to assemble Collateral, at the
Grantors’ expense, and make it available to the Collateral Agent at a place designated by the
Collateral Agent; (iii) subject to the terms of any lease agreement or Lien Waiver, as applicable,
enter any premises where Collateral is located and store Collateral on such premises until sold
(and if the premises are owned or leased by a Grantor, such Grantor agree not to charge for such
storage); and (iv) sell or otherwise dispose of any Collateral in its then condition, or after any
further manufacturing or processing thereof, at public or private sale, with such notice as may be
required by applicable law, in lots or in bulk, at such locations, all as the Collateral Agent, in
its discretion, deems advisable. Each Grantor agrees that 10 days notice of any proposed sale or
other disposition of Collateral by the Collateral Agent shall be reasonable. The Collateral Agent
shall have the right to conduct such sales on any Grantor’s premises, without charge, and such
sales may be adjourned from time to time in accordance with applicable law. The Collateral Agent
shall have the right to sell, lease or otherwise dispose of any Collateral for cash, credit or any
combination thereof, and the Collateral Agent may purchase any Collateral at public or, if
permitted by law, private sale and, in lieu of actual payment of the purchase price, may set off
the amount of such price against the Secured Obligations.
(b) For the purpose of enabling the Collateral Agent, upon the occurrence and during the
continuance of an Event of Default, to exercise the rights and remedies hereunder and under the
Indenture at such time as the Collateral Agent shall be lawfully entitled to exercise such rights
and remedies, and for no other purpose, each Grantor hereby grants to the Collateral Agent a
non-exclusive license (subject to the rights of third parties and to the extent not prohibited in
the case of licensed in Intellectual Property and (i) in the case of trademarks, to sufficient
rights to quality control and inspection in favor of the Grantors to avoid the risk of invalidation
of such trademarks, and (ii) in the case of trade secrets, to an obligation of the Collateral
Agent, subject in all respects to the limitations on Collateral Agent’s liability set forth in
Sections 6 and 8 hereof, to take steps reasonable under the circumstances to keep trade
secrets confidential to avoid the risk of invalidation of such trade secrets) to use, license or
sub-license (without payment of royalty or other compensation to any Person) any or all
Intellectual Property of the Grantors, computer hardware and software, trade secrets, brochures,
customer lists, promotional and advertising materials, labels, packaging materials and other
Property, in advertising for sale, marketing, selling, collecting, completing manufacture of, or
otherwise exercising any rights or remedies with respect to, any Collateral. Each Grantor’s rights
and interests under Intellectual Property shall inure to the Collateral Agent’s benefit.
(c) At any time during an Event of Default, the Collateral Agent, Holders, Trustee, and any of
their Affiliates are authorized, to the fullest extent permitted by applicable law, to set off and
apply any and all deposits (general or special, time or demand, provisional or final, in whatever
currency)(other than tax, payroll, trust or employee benefit accounts) at any time held and other
obligations (in whatever currency) at any time owing by the Collateral Agent, such Holder, Trustee
or such Affiliate to or for the credit or the account of a Grantor against any Secured Obligations,
irrespective of whether or not the Collateral Agent, such Holder, Trustee or such Affiliate shall
have made any demand under this Security Agreement or any other Note Document and although such
Secured Obligations may be contingent or unmatured or are owed to a branch or office of the
Collateral Agent, such Holder, Trustee or such Affiliate different from the branch or office
holding such deposit or obligated on such indebtedness. The rights of the Collateral Agent, each
Holder, Trustee and each such
17
Affiliate under this Section 5(c) are in addition to other rights and remedies
(including other rights of setoff) that such Person may have.
(d) The Collateral Agent shall apply the net proceeds of any action taken by it pursuant to
this Section 5, after deducting all reasonable costs and expenses of every kind incurred in
connection therewith or incidental to the care or safekeeping of any of the Collateral or in any
way relating to the Collateral or the rights of the Collateral Agent, the Holders or the Trustee
hereunder to the payment in whole or in part of the Secured Obligations, without duplication, in
the order set forth in the Indenture, and only after such application and after the payment by the
Collateral Agent of any other amount required by any provision of law, including, without
limitation, Section 9-615(a)(3) of the New York UCC, need the Collateral Agent account for the
surplus, if any, to any Grantor. To the extent permitted by applicable law, each Grantor waives
all claims, damages and demands it may acquire against the Collateral Agent, the Holders or the
Trustee arising out of the exercise by them of any rights hereunder, except for any such claims,
damages and demands based on the Collateral Agent’s, the Holders’ or the Trustee’s gross negligence
or willful misconduct. If any notice of a proposed sale or other disposition of Collateral shall
be required by law, such notice shall be deemed reasonable and proper if given at least ten (10)
Business Days before such sale or other disposition.
SECTION 6. Indemnification.
(a) Each Grantor affirms all indemnification rights and obligations applicable to it as set
forth in Section 7.07 of the Indenture, which provision shall be applicable herein mutatis
mutandis, provided, that each reference in Section 7.07 of the Indenture (as incorporated
herein) to “the Company” shall be interpreted herein as a reference to “the Grantors” and to “the
Trustee” shall be interpreted herein as a reference to “the Collateral Agent”.
(b) Each Grantor shall defend, indemnify, and hold harmless the Trustee, and Collateral Agent
and its officers, directors, employees and agents from and against any claims, demands, penalties,
fines, liabilities, settlements, damages, costs, or expenses of whatever kind or nature, known or
unknown, contingent or otherwise, arising out of, or in any way related to, (w) the presence,
disposal, release, or threatened release of any Hazardous Materials which are on, from, or
affecting the soil, water, vegetation, buildings, personal property, persons, animals, or
otherwise; (x) any personal injury (including wrongful death) or property damage (real or personal)
arising out of or related to such Hazardous Materials; (y) any lawsuit brought or threatened,
settlement reached, or government order relating to such Hazardous Materials, and/or (z) any
violation of laws, orders, regulations, requirements or demands of government authorities, or any
policies or requirements of the Trustee, which are based upon or in any way related to such
Hazardous Materials including, without limitation, attorney and consultant fees and expenses,
investigation and laboratory fees, court costs, and litigation expenses. For purposes of this
paragraph, “Hazardous Materials” includes, without limit, any flammable explosives, radioactive
materials, hazardous materials, hazardous wastes, hazardous or toxic substances, or related
materials defined in the Comprehensive Environmental Response, Compensation, and Liability Act of
1980, as amended (42 U.S.C. Sections 9601, et. seq.), the Hazardous Materials Transportation Act,
as amended (49 U.S.C. Sections 5108, et seq.), the Resource Conservation and Recovery Act, as
amended (42 U.S.C. Sections 6901, et
18
seq.), and in the regulations adopted and publications promulgated pursuant thereto, or any
other federal, state or local environmental law, ordinance, rule, or regulation. The provisions of
this paragraph shall be in addition to any and all other obligations and liabilities each Grantor
may have to any indemnified party at common law, and shall survive the termination of this
Agreement.
(c) Each Grantor agrees to pay, and to save the Collateral Agent harmless from, any and all
liabilities with respect to, or resulting from any delay in paying, any and all stamp, excise,
sales or other taxes which may be payable or determined to be payable with respect to any of the
Collateral or in connection with any of the transactions contemplated by this Security Agreement or
any other Note Document.
(d) Each Grantor agrees to pay, and to hold the Collateral Agent, and its officers, directors,
employees and agents harmless from, any and all liabilities, obligations, losses, damages,
penalties, actions, judgments, suits, costs, expenses or disbursements of any kind or nature
whatsoever with respect to the execution, delivery, enforcement, performance and administration of
this Security Agreement or any other Note Document to the extent the Company would be required to
do so pursuant to the Indenture.
(e) The agreements in this Section 6 shall survive repayment of the Secured
Obligations, all other amounts payable under the Note Documents and the resignation or removal of
the Collateral Agent.
SECTION 7. Reinstatement. This Security Agreement shall remain in full force and
effect and continue to be effective should any petition be filed by or against a Grantor for
liquidation or reorganization, should such Grantor become insolvent or make an assignment for the
benefit of creditors or should a receiver or trustee be appointed for all or any significant part
of such Grantor’s Property, and shall continue to be effective or be reinstated, as the case may
be, if at any time payment and performance of the Secured Obligations, or any part thereof, is,
pursuant to applicable laws, rescinded or reduced in amount, or must otherwise be restored or
returned by any obligee of the Secured Obligations, whether as a “voidable preference,” “fraudulent
conveyance,” or otherwise, all as though such payment or performance had not been made. In the
event that any payment, or any part thereof, is rescinded, reduced, restored or returned, the
Secured Obligations shall be reinstated and deemed reduced only by such amount paid and not so
rescinded, reduced, restored or returned.
SECTION 8. Limitations on the Collateral Agent’s Duty in Respect of Collateral.
8.1 Duty of Collateral Agent. The Collateral Agent’s sole duty with respect to the
custody, safekeeping and physical preservation of the Collateral in its possession, under Section
9-207 of the New York UCC or otherwise, shall be to deal with it in the same manner as the
Collateral Agent deals with similar property for its own account. The Collateral Agent shall be
accountable only for amounts that it actually receives as a result of the exercise of such powers,
and neither Collateral Agent nor any of its officers, directors, employees or agents shall be
responsible to any Grantor for any act or failure to act hereunder, except for their own gross
19
negligence or willful misconduct nor shall they be liable or responsible to any Grantor for
any loss or damage to any Collateral, or for any diminution in the value thereof, except for their
own gross negligence or willful misconduct.
8.2 Filing of Financing Statements. Pursuant to any applicable law, each Grantor
authorizes the Collateral Agent to file or record financing statements and other filing or
recording documents or instruments with respect to the Collateral without the signature of such
Grantor in such form and in such offices as may be necessary or as the Collateral Agent may
determine appropriate to perfect the security interests of the Collateral Agent under this Security
Agreement. Each Grantor authorizes the Collateral Agent to use the collateral description “all
personal property of debtor” or “all assets of the debtor, whether now existing or hereafter
acquired” in any such financing statements.
8.3 Authority of Collateral Agent. Except as otherwise expressly set forth herein,
the following provisions shall govern the Collateral Agent’s rights, powers, obligations and duties
under this Security Agreement:
(a) Each of the Holders and the Trustee by their acceptance of the benefits hereof hereby
designates and appoints U.S. Bank National Association to act as Collateral Agent under this
Security Agreement, the Intercreditor Agreements and the other Note Documents to which it is a
party, and hereby authorizes the Collateral Agent to take such actions on its behalf under the
provisions of this Security Agreement, the Intercreditor Agreements and such other Note Documents
and to exercise such powers and perform such duties as are expressly delegated to the Collateral
Agent by the terms of this Security Agreement, the Intercreditor Agreements and such other Note
Documents. Without limiting the generality of the foregoing, Collateral Agent shall have the sole
and exclusive authority to (a) execute and deliver as Collateral Agent each Security Document and
the Intercreditor Agreements and accept delivery of each Security Document and each Intercreditor
Agreement from any Grantor or other Person, (b) act as Collateral Agent for the purposes of
perfecting and maintaining Liens hereunder and under the other Security Documents, and for all
other purposes stated herein or therein, and (c) manage, supervise or otherwise deal with
Collateral. The Collateral Agent shall not have any duties or responsibilities, except those
expressly set forth in this Security Agreement, the other Note Documents or the Intercreditor
Agreements, and no implied covenants, functions or responsibilities shall be read into this
Security Agreement or otherwise exist against Collateral Agent. The conferral upon Collateral
Agent of any right shall not imply a duty on Collateral Agent’s part to exercise such rights,
unless instructed to do so by the Holders of at least a majority in principal amount of the Notes
then outstanding.
(b) With respect to the Collateral Agent’s duties under this Security Agreement or any of the
Note Documents, the Collateral Agent may act through its attorneys, accountants, experts and such
other professionals as the Collateral Agent deems necessary, advisable or appropriate and shall not
be responsible for the misconduct or negligence of any attorney, accountant, expert or other such
professional appointed with due care.
(c) Neither the Collateral Agent nor any of its experts, officers, directors, employees,
agents, attorneys-in-fact or affiliates shall be (i) liable for any action lawfully taken or
omitted to be taken by it under or in connection with this Security Agreement
20
or any of the Note Documents (except for its gross negligence or willful misconduct), or (ii)
responsible in any manner for any recitals, statements, representations or warranties (other than
representations or warranties actually made by it in this Agreement or the Note Documents to which
it is a party) made in this Security Agreement or any of the other Note Documents or in any
certificate, report, statement or other document referred to or provided for in, or received by the
Collateral Agent under or in connection with, this Security Agreement or any of the Note Documents
or for the value, validity, effectiveness, genuineness, enforceability or sufficiency of this
Security Agreement or any of the Note Documents or for any failure of the Grantors or any other
Person to perform their obligations hereunder and thereunder. Except as otherwise provided herein,
the Collateral Agent shall take such action with respect to this Agreement, the Intercreditor
Agreement and the other Note Documents as shall be directed by the Holders of at least a majority
in principal amount of the Notes then outstanding. The Collateral Agent shall not be under any
obligation to any Person to ascertain or to inquire as to (i) the observance or performance of any
of the agreements contained in, or conditions of, this Security Agreement or any of the Note
Documents or to inspect the properties, books or records of the Grantors, (ii) whether or not any
representation or warranty made by any Person in connection with this Security Agreement or any
Note Documents is true, (iii) the performance by any Person of its obligations under this Security
Agreement or any of the Note Documents or (iv) the breach of or default by any Person of its
obligations under this Security Agreement or any of the Note Documents.
(d) The Collateral Agent shall not be bound to (i) account to any Person for any sum or the
profit element of any sum received for its own account; (ii) disclose to any other Person any
information relating to the Person if such disclosure would, or might, constitute a breach of any
law or regulation or be otherwise actionable at the suit of any Person; (iii) be under any
fiduciary duties or obligations other than those for which express provision is made in this
Security Agreement, the Intercreditor Agreements or in any of the other Note Documents to which it
is a party; or (iv) be required to take any action that it believes, based on advice of counsel, is
in conflict with any applicable law, this Security Agreement, the Intercreditor Agreements or any
of the other Note Documents, or any order of any court or administrative agency;
(e) The Collateral Agent shall not be liable or responsible for any loss or diminution in the
value of any of the Collateral, by reason of the act or omission of any carrier, forwarding agency
or other agent or bailee selected by the Collateral Agent in good faith, except to the extent of
the Collateral Agent’s gross negligence or willful misconduct.
(f) The Collateral Agent shall not be responsible for, nor incur any liability with respect
to, (i) the existence, genuineness or value of any of the Collateral or for the validity,
perfection, priority or enforceability of the security interest in any of the Collateral, whether
impaired by operation of law or by reason of any action or omission to act on its part under this
Security Agreement or any of the other Note Documents, except to the extent such action or omission
constitutes gross negligence or willful misconduct on the part of the Collateral Agent, (ii) the
validity or sufficiency of the Collateral or any agreement or assignment contained therein, (iii)
the validity of the title of the Grantors to the Collateral, (iv) insuring the Collateral or (v)
the payment of taxes, charges or assessments upon the Collateral or otherwise as to the maintenance
of the Collateral.
21
The Collateral Agent shall be authorized to but shall not be responsible for filing any
financing or continuation statements or recording any documents or instruments in any public office
at any time or times or otherwise perfecting or monitoring or maintaining the perfection of any
security interest in the Collateral. It is expressly agreed, to the maximum extent permitted by
applicable law, that the Collateral Agent shall have no responsibility for (i) taking any necessary
steps to preserve rights against any Person with respect to any Collateral or (ii) taking any
action to protect against any diminution in value of the Collateral, but, in each case (A) subject
to the requirement that the Collateral Agent may not act or omit to take any action if such act or
omission would constitute gross negligence or willful misconduct and (B) the Collateral Agent may
do so and all expenses reasonably incurred in connection therewith shall be part of the Secured
Obligations.
(g) Notwithstanding anything in this Security Agreement or any of the Note Documents to the
contrary, (i) in no event shall the Collateral Agent or any officer, director, employee,
representative or agent of the Collateral Agent be liable under or in connection with this Security
Agreement or any of the Note Documents for indirect, special, incidental, punitive or consequential
losses or damages of any kind whatsoever, including but not limited to lost profits or loss of
opportunity, whether or not foreseeable, even if the Collateral Agent has been advised of the
possibility thereof and regardless of the form of action in which such damages are sought; and (ii)
the Collateral Agent shall be afforded all of the rights, powers, immunities and indemnities set
forth in this Security Agreement and in all of the other Note Documents to which it is a signatory
as if such rights, powers, immunities and indemnities were specifically set out in each such Note
Documents. In no event shall the Collateral Agent be obligated to invest any amounts received by
it hereunder.
(h) The Collateral Agent shall be entitled conclusively to rely, and shall be fully protected
in relying, upon any note, writing, resolution, request, direction, certificate, notice, consent,
affidavit, letter, cablegram, telegram, telecopy, email, telex or teletype message, statement,
order or other document or conversation believed by it in good faith to be genuine and correct and
to have been signed, sent or made by the proper Person or Persons and/or upon advice and/or
statements of legal counsel, independent accountants and other experts selected by the Collateral
Agent and need not investigate any fact or matter stated in any such document. Any such statement
of legal counsel shall be full and complete authorization and protection in respect of any action
taken or suffered by it hereunder in accordance therewith. The Collateral Agent shall be fully
justified in failing or refusing to take any action under this Security Agreement or any of the
other Note Documents (i) if such action would, in the reasonable opinion of the Collateral Agent
(which may be based on the opinion of legal counsel), be contrary to applicable law or any of the
Note Documents, (ii) if such action is not provided for in this Security Agreement or any of the
other Note Documents, (iii) if, in connection with the taking of any such action hereunder or under
any of the Note Documents that would constitute an exercise of remedies hereunder or under any of
the Note Documents it shall not first be indemnified to its satisfaction by the Holders against any
and all risk of nonpayment, liability and expense that may be incurred by it, its agents or its
counsel by reason of taking or continuing to take any such action, or (iv) if, notwithstanding
anything to the contrary contained in this Security Agreement, in connection with the taking of any
such action that would constitute a payment due under any agreement or document, it shall not first
have received from the Holders or the Grantors funds equal to the amount payable. The Collateral
Agent shall in all cases be
22
fully protected in acting, or in refraining from acting, under this Security Agreement or any
of the other Note Documents in accordance with a request of the requisite percentage of Holders,
and such request and any action taken or failure to act pursuant thereto shall be binding upon all
the other Holders and the Trustee.
(i) The Collateral Agent shall not be deemed to have actual, constructive, direct or indirect
knowledge or notice of the occurrence of any Default unless and until the Collateral Agent has
received a written notice or a certificate from the Trustee, a Holder or the Grantors stating that
a Default has occurred. The Collateral Agent shall have no obligation whatsoever either prior to
or after receiving such notice or certificate to inquire whether a Default has in fact occurred and
shall be entitled to rely conclusively, and shall be fully protected in so relying, on any notice
or certificate so furnished to it. No provision of this Security Agreement, the Intercreditor
Agreement or any of the Note Documents shall require the Collateral Agent to expend or risk its own
funds or otherwise incur any financial liability in the performance of any of its duties under this
Security Agreement, any of the other Note Documents or the exercise of any of its rights or powers.
The Collateral Agent shall be under no obligation or duty to take any action under this Security
Agreement or any of the other Note Documents or otherwise if taking such action (i) would subject
the Collateral Agent to a tax in any jurisdiction where it is not then subject to a tax or (ii)
would require the Collateral Agent to qualify to do business in any jurisdiction where it is not
then so qualified.
(j) Any corporation into which the Collateral Agent may be merged, or with which it may be
consolidated, or any corporation resulting from any merger or consolidation to which the Collateral
Agent shall be a party, shall become a Collateral Agent under this Security Agreement without the
execution or filing of any paper or any further act on the part of the parties hereto except for
written notice to the other parties hereto.
(k) The Collateral Agent may resign as Collateral Agent at any time upon written notice to the
Holders, Trustee and the Grantors and may be removed at any time with or without cause by the
Holders of at least a majority in principal amount of the Notes then outstanding, with any such
resignation or removal to become effective only upon the appointment of a successor Collateral
Agent under this Section. If the Collateral Agent shall provide notice of its resignation or be
removed as Collateral Agent, then the Holders of at least a majority in principal amount of the
Notes then outstanding shall (and if no such successor shall have been appointed within 45 days of
the Collateral Agent’s resignation or removal, the Collateral Agent may) appoint a successor
Collateral Agent which successor agent shall, in the case of any appointment by the Collateral
Agent, be reasonably acceptable to the Holders of at least a majority in principal amount of the
Notes then outstanding, and the former Collateral Agent’s rights, powers and duties as Collateral
Agent shall be terminated, without any other or further act or deed on the part of such former
Collateral Agent (except that the resigning Collateral Agent shall deliver all Collateral then in
its possession to the successor Collateral Agent and shall execute and deliver to the successor
Collateral Agent such instruments of assignment and transfer and other similar documents as such
successor Collateral Agent shall deem necessary or advisable (at the joint and several expense of
the Grantors). After any retiring Collateral Agent’s resignation or removal hereunder as
Collateral Agent, the provisions of this Security Agreement shall inure to its benefit as to any
actions taken or omitted to be taken by it while it was Collateral Agent. In the event that a
successor Collateral Agent is not appointed
23
within the time period specified in this Section following the provision of a notice of
resignation or removal of the Collateral Agent, the Collateral Agent or any other Holder may
petition a court of competent jurisdiction for the appointment of a successor Collateral Agent (at
the joint and several expense of the Grantors); provided that until such court appoints a
replacement Collateral Agent, such resignation or removal of the existing Collateral Agent shall
not be effective.
SECTION 9. Miscellaneous.
9.1 Notices. Except as otherwise specified herein, all notices, requests, demands,
consents, instructions or other communications to or upon such Grantor or the Collateral Agent
under this Security Agreement shall be given in the manner and to the addresses provided in
Section 12.02 of the Indenture (in the case of the Grantors other than the Company, to the
address provided for the Company in such section and in the case of the Collateral Agent to the
address provided for the Trustee in such section).
9.2 Partial Invalidity. If at any time any provision of this Security Agreement is or
becomes illegal, invalid or unenforceable in any respect, neither the legality, validity or
enforceability of the remaining provisions of this Security Agreement shall in any way be affected
or impaired thereby.
9.3 Headings. The headings of the Sections of this Security have been inserted for
convenience of reference only, are not intended to be considered a part hereof and shall not modify
or restrict any of the terms or provisions hereof.
9.4 No Waiver; Cumulative Remedies.
(a) All agreements, warranties, guaranties, indemnities and other undertakings of the Grantors
under the Note Documents are cumulative and not in derogation of each other. The rights and
remedies of the Collateral Agent, the Trustee and the Holders are cumulative, may be exercised at
any time and from time to time, concurrently or in any order, and are not exclusive of any other
rights or remedies available by agreement, by law, at equity or otherwise. All such rights and
remedies shall continue in full force and effect until full payment of all Secured Obligations
(other than contingent indemnification obligations for which no claim has been made).
(b) No waiver or course of dealing shall be established by (a) the failure or delay of the
Collateral Agent, the Trustee or any Holder to require strict performance by the Grantors with any
terms of the Note Documents, or to exercise any rights or remedies with respect to Collateral or
otherwise; (b) the purchase of any Notes during a Default, Event of Default or other failure by the
Grantors to satisfy any conditions precedent; or (c) acceptance by the Collateral Agent, the
Trustee or any Holder of any payment or performance by a Grantor under any Note Documents in a
manner other than that specified therein.
9.5 Time is of the Essence. Time is of the essence for the performance of each of the
terms and provisions of this Security Agreement.
9.6 Termination of this Security Agreement. Subject to Section 7, above, this
Security Agreement shall terminate in accordance with Section 11.10 of the Indenture.
24
9.7 Successors and Assigns. This Security Agreement and all obligations of the
Grantors hereunder shall be binding upon the successors and permitted assigns of the Grantors, and
shall, together with the rights and remedies of the Collateral Agent on behalf of the Trustee and
the Holders hereunder, inure to the benefit of the Collateral Agent, the Trustee, and the Holders
and their respective successors and assigns. The Grantors may not assign or transfer their rights
or obligations under this Security Agreement without the prior written consent of the Collateral
Agent, the Trustee and each Holder. Any purported assignment or transfer in contravention of the
foregoing shall be null and void. No sales of participations, other than sales, assignments,
transfers or other dispositions of any agreement governing or instrument evidencing the Secured
Obligations or any portion thereof or interest therein shall in any manner affect the security
interest created herein and granted to the Collateral Agent on behalf of the Trustee and the
Holders hereunder.
9.8 Further Indemnification. Each Grantor, jointly and severally, agrees to pay, and
to hold the Collateral Agent and the Holders harmless from, any and all liabilities with respect
to, or resulting from any delay in paying, any and all excise, sales or other similar taxes which
are payable with respect to any of the Collateral or in connection with any of the transactions
contemplated by this Security Agreement or any other Note Document.
9.9 Amendments, Etc. None of the terms or provisions of this Security Agreement may
be waived, amended, supplemented or otherwise modified except in accordance with Article 9
of the Indenture.
9.10 ENTIRE AGREEMENT. THIS SECURITY AGREEMENT, THE INDENTURE AND THE NOTE DOCUMENTS
REPRESENT THE COMPLETE AND FINAL AGREEMENT AMONG THE GRANTORS AND THE COLLATERAL AGENT AND
SUPERSEDE ALL PRIOR AGREEMENTS, WRITTEN OR ORAL, ON THE SUBJECT MATTER HEREOF AND MAY NOT BE
CONTRADICTED BY EVIDENCE OF PRIOR, CONTEMPORANEOUS, OR SUBSEQUENT ORAL AGREEMENTS OF SUCH PARTIES.
THERE ARE NO UNWRITTEN ORAL AGREEMENTS BETWEEN OR AMONG THE GRANTORS, THE COLLATERAL AGENT AND THE
HOLDERS.
9.11 Governing Law. This Security Agreement shall be governed by, and construed in
accordance with, the laws of the State of New York, without giving effect to principles of
conflicts of laws, except that matters concerning the validity and perfection of a security
interest shall be governed by the conflict of law rules set forth in the UCC.
9.12 Counterparts. This Security Agreement may be executed in any number of identical
counterparts, any set of which signed by all the parties hereto shall be deemed to constitute a
complete, executed original for all purposes. Transmission by telecopier or other electronic
transmission of an executed counterpart of this Security Agreement shall be deemed to constitute
due and sufficient delivery of such counterpart.
9.13 Payments Free of Taxes, Etc. All payments made by the Grantors under this
Security Agreement shall be made by the Grantors free and clear of and without deduction for any
and all present and future taxes, levies, charges, deductions and withholdings (except as otherwise
provided in the Indenture). In addition, the Grantors shall pay promptly upon written
25
demand any stamp or other taxes, levies or charges of any jurisdiction with respect to the
execution, delivery, registration, performance and enforcement of this Security Agreement.
9.14 Additional Grantors. If, pursuant to the terms and conditions of the Indenture,
the Company shall be required to cause any domestic Subsidiary of the Company that is not a Grantor
to become a Grantor hereunder, such Subsidiary shall execute and deliver to the Collateral Agent a
Joinder Agreement in the form of Annex 1 and shall thereafter for all purposes be a party hereto
and have the same rights, benefits and obligations as a Grantor party hereto on the date hereof and
shall be deemed to have assigned, conveyed, mortgaged, pledged, granted, hypothecated and
transferred to the Collateral Agent for itself and for the pro rata benefit of the Trustee and the
Holders the security interest described in such Joinder Agreement and Section 2 hereof.
9.15 Joint and Several Liability. In addition and notwithstanding anything to the
contrary contained in this Security Agreement or in any other document, instrument or agreement
between or among any of the Collateral Agent, the Trustee, the Holders, the Grantors or any third
party, the obligations of each Grantor with respect to the Secured Obligations shall be joint and
several with any other Person that now or hereafter executes a guaranty of any of the Secured
Obligations separate from this Security Agreement.
9.16 Release of Lien. (a) Subject to the terms, conditions and provisions of
Section 11.03 of the Indenture, the Collateral shall be released from the Liens and
security interests created by this Security Agreement at any time and from time to time in
accordance with the terms of the Indenture or the Intercreditor Agreements and (b) subject to the
terms, conditions and provisions of Section 11.10 of the Indenture, at such time as the
Secured Obligations shall have been paid in full (other than contingent indemnification obligations
for which no claim has been asserted), the Collateral shall be automatically released from the
Liens created hereby, and this Security Agreement and all obligations (other than those expressly
stated to survive such termination) of the Collateral Agent and each Grantor hereunder shall
terminate, all without delivery of any instrument or performance of any act by any party, and all
rights to the Collateral shall automatically revert to the Grantors; provided,
however, that to the extent that any payments or proceeds received pursuant hereto or
otherwise in respect of the Secured Obligations, or any part of such payments, shall be
subsequently invalidated, declared to be fraudulent, a fraudulent conveyance, or preferential, set
aside and/or required to be repaid to any Grantor, a trustee, receiver, debtor in possession, or
any other party, whether under any bankruptcy law, state or federal law, common law or equitable
cause, or otherwise, then to the extent that such payment or proceeds received by any such Person
is rescinded or must be otherwise restored by any such Person, whether as a result of any
proceedings in bankruptcy or reorganization or otherwise, the obligations or part thereof which
were intended to be satisfied, and all rights of such Person with respect to such obligations
(including all Liens arising pursuant to the Note Documents), shall be revived and continue in full
force and effect, as if such payment or proceeds had never been received by such Person, and this
section or any release thereunder shall in no way impair the claims of any of such Persons with
respect to such revived obligations. If any of the Collateral shall be sold, transferred or
otherwise disposed of by any Grantor in a transaction permitted by the Indenture, such Collateral
shall be automatically released from the Liens and security interests created by this Security
Agreement and the Collateral Agent, at the request and sole expense of such Grantor, shall execute
and deliver to
26
such Grantor all releases or other documents reasonably necessary or desirable for the release
of the Liens created hereby on such Collateral (including such documents as such Grantor shall
reasonably request to evidence such release). A Subsidiary Guarantor shall be automatically
released from its obligations hereunder in the event that all the Capital Stock of such Subsidiary
Guarantor shall be sold, transferred or otherwise disposed of in a transaction permitted by the
Indenture. At the request and sole expense of any Grantor following any such termination or
release, the Collateral Agent shall deliver to such Grantor any Collateral held by the Collateral
Agent hereunder, and without recourse, and without any representation or warranty of any kind,
express or implied, execute and deliver to such Grantor such documents as such Grantor shall
reasonably request to evidence such termination.
9.17 Intercreditor Agreements.
(a) All rights and remedies of the Collateral Agent hereunder, the Liens, the security
interests and all obligations of the Grantors hereunder are subject in all respects to the terms,
provisions, conditions and limitations of the Intercreditor Agreements and in the event of any
conflict between the terms of the Intercreditor Agreements and this Security Agreement, the terms
of the applicable Intercreditor Agreement shall govern and control.
(b) The parties hereto agree that the security interests granted hereby shall be automatically
and unconditionally released with no further consent or action of any other Person as, when and to
the extent set forth in Sections 4.2 and 5.2 of the Intercreditor Agreements.
(c) So long as any of the Intercreditor Agreements is in full force and effect, First Priority
Payment Date has not occurred, the discharge of Second Priority Obligations has not occurred, and
the Grantors are in compliance with the applicable provisions thereof with respect to such
Collateral, the delivery of any Collateral or any certificates, titles, Instruments, Chattel Paper
or Documents evidencing or in connection with such Collateral to the First Lien Collateral Agent or
the Second Lien Collateral Agent under and in accordance with the Intercreditor Agreements and the
First Priority Security Documents or Second Priority Security Documents (each as defined in the
First Lien Intercreditor Agreement) shall constitute compliance by the Grantors with the provisions
of this Security Agreement which require delivery or possession of certain types of Collateral to
the Collateral Agent.
9.18 Jury Trial Waiver. EACH GRANTOR AND COLLATERAL AGENT WAIVE ANY RIGHT TO HAVE A
JURY PARTICIPATE IN RESOLVING ANY DISPUTE, WHETHER SOUNDING IN CONTRACT, TORT OR OTHERWISE, AMONG
COLLATERAL AGENT AND THE GRANTORS ARISING OUT OF, IN CONNECTION WITH, RELATED TO, OR INCIDENTAL TO
THE RELATIONSHIP ESTABLISHED AMONG THEM IN CONNECTION WITH THIS AGREEMENT OR ANY NOTE OR OTHER
INSTRUMENT, DOCUMENT OR AGREEMENT EXECUTED OR DELIVERED IN CONNECTION HEREWITH OR THE TRANSACTIONS
RELATED THERETO.
9.19 Restrictions on Dividends, Distributions and Loans. Notwithstanding anything to the
contrary contained in this Security Agreement or any other Note Document, neither this Security
Agreement nor any other Note Document shall impose any encumbrance or
27
restriction on the ability of any Grantor (or any Subsidiary of a Grantor) to (a) pay
dividends or make other distributions on its Capital Stock (as defined in that certain Indenture,
dated July 6, 2005, among the Company, the Subsidiary Guarantors listed on the signature pages
thereto and U.S. Bank National Association, as Trustee (the “2005 Indenture”) or pay any
Indebtedness (as defined in the 2005 Indenture) to the Company, (b) make any loans or advances to
the Company or (c) transfer any property to the Company, in each case, solely to the extent any
such encumbrance or restriction would result in a default under the 2005 Indenture.
9.20 Post Closing Covenant. Notwithstanding anything to the contrary contained
herein, within the periods set forth on Schedule 9.20 (or such longer period as the Holders of at
least a majority in principal amount of the Notes then outstanding may determine), take the actions
described on Schedule 9.20.
[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]
28
IN WITNESS WHEREOF, the Grantors and the Collateral Agent have caused this Security Agreement
to be executed as of the day and year first above written.
GRANTORS: COMMERCIAL VEHICLE GROUP, INC. |
||||
By: | /s/ Xxxx X. Xxxxx | |||
Name: | Xxxx X. Xxxxx | |||
Title: | Chief Financial Officer | |||
CABARRUS PLASTICS, INC. CVG CS LLC CVG MANAGEMENT CORPORATION CVG LOGISTICS LLC CVG EUROPEAN HOLDINGS, LLC CVG OREGON, LLC CVS HOLDINGS, INC. MAYFLOWER VEHICLE SYSTEMS, LLC MONONA CORPORATION MONONA WIRE CORPORATION MONONA (MEXICO) HOLDINGS LLC NATIONAL SEATING COMPANY XXXXXXX DEVICES, INC. TRIM SYSTEMS, INC. TRIM SYSTEMS OPERATING CORP. |
||||
By: | /s/ Xxxx X. Xxxxx | |||
Name: | Xxxx X. Xxxxx | |||
Title: | Chief Financial Officer | |||
COLLATERAL AGENT: U.S. BANK NATIONAL ASSOCIATION, as Collateral Agent |
||||
By: | /s/ Xxxxxxx Xxxxxxxx | |||
Name: | Xxxxxxx Xxxxxxxx | |||
Title: | Vice President |
[Signature Page to Security Agreement]
ANNEX 1
JOINDER AGREEMENT
This JOINDER AGREEMENT, dated as of , ___, is delivered pursuant to Section
9.14 of the Security Agreement, dated as of [ ___, 2009], among each of the Grantors
from time to time party thereto in favor of U.S. BANK NATIONAL ASSOCIATION, as Collateral Agent (as
amended, supplemented, restated or otherwise modified from time to time, the “Security
Agreement”). Capitalized terms used herein but not defined herein are used herein with the
meaning given them in the Security Agreement.
By executing and delivering this Joinder Agreement, the undersigned, as provided in
Section 9.14 of the Security Agreement, hereby becomes a party to the Security Agreement as
a Grantor thereunder with the same force and effect as if originally named as a Grantor therein
and, without limiting the generality of the foregoing, as security for the full payment when due
(whether at stated maturity, by acceleration or otherwise) and performance of all the Secured
Obligations of the undersigned, the undersigned hereby grants to the Collateral Agent for itself
and for the pro rata benefit of the Trustee and the Holders a security interest in and to all of
the undersigned’s right, title and interest in, to and under the Collateral, whether now owned or
hereafter acquired by the undersigned or in which the undersigned now holds or hereafter acquires
any interest and expressly assumes all obligations and liabilities of a Grantor thereunder. From
and after the date hereof, the undersigned shall for all purposes be a party to the Security
Agreement and shall have the same rights, benefits and obligations as a Grantor party thereto on
the date thereof.
The undersigned hereby represents and warrants that each of the representations and warranties
contained in the Security Agreement applicable to it is true and correct on and as the date hereof
as if made on and as of such date (except for such representations and warranties that expressly
relate to an earlier date, and, in each such case, shall be true and correct as of such earlier
date).
The information set forth in Annex 1-A is hereby added to the information set forth in the
Schedules to the Security Agreement.
This Joinder Agreement shall be governed by, and construed in accordance with the laws of the
State of New York without reference to conflicts of law rules other than Section 5-1401 if the
General Obligations Law of the State of New York.
[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]
IN WITNESS WHEREOF, the undersigned has caused this Joinder Agreement to be duly executed and
delivered as of the date first above written.
[Additional Grantor] | ||||||
By: | ||||||
Name: | ||||||
Title: | ||||||
ACKNOWLEDGED AND AGREED
as of the date of this Joinder Agreement
first above written.
as of the date of this Joinder Agreement
first above written.
U.S. BANK NATIONAL ASSOCIATION,
as Collateral Agent
as Collateral Agent
By: |
||||
Name:
|
||||
Title:
|
||||
Annex 1-A
[New Grantor to complete as appropriate]
SCHEDULES
TO
TO
THIRD LIEN SECURITY AGREEMENT
INDEX
Schedule 2.1
|
Commercial Tort Claims | |
Schedule 2.3(a)
|
Mortgages | |
Schedule 3.4
|
Deposit Accounts | |
Schedule 3.5
|
Business Locations | |
Schedule 4(e)
|
Names and Capital Structure | |
Schedule 4(f)
|
Patents, Trademarks, Copyrights and Licenses | |
Schedule 9.20
|
Post Closing Covenants |
SCHEDULE 2.1
COMMERCIAL TORT CLAIMS
None.
SCHEDULE 2.3(a)
MORTGAGES
1) | Mortgage, Assignment of Rents, Security Agreement and Fixture Filing by and between Monona Wire Corporation, as mortgagor, to U.S. Bank National Association, as agent, dated August 4, 2009, with respect to the property located in Monona, Xxxxxxx County, Iowa; | |
2) | Deed of Trust, Assignment of Rents, Security Agreement and Fixture Filing by and between Mayflower Vehicle Systems, LLC, as grantor, to First American Title Insurance Company, as trustee, for the benefit of U.S. Bank, National Association, as beneficiary, dated August 4, 2009, with respect to the property located in Kings Mountain, Cleveland County, North Carolina; | |
3) | Open-End Mortgage, Assignment of Rents, Security Agreement and Fixture Filing by and between Mayflower Vehicle Systems, LLC, as mortgagor, and U.S. National Bank National Association, as agent, dated August 4, 2009, with respect to the property located in Shadyside, Belmont County, Ohio; | |
4) | Open-End Mortgage, Assignment of Rents, Security Agreement and Fixture Filing by and between Mayflower Vehicle Systems, LLC, as mortgagor, and U.S. National Bank National Association, as agent, dated August 4, 2009, with respect to the property located in Norwalk, Huron County, Ohio; | |
5) | Open-End Mortgage, Assignment of Rents, Security Agreement and Fixture Filing by and between Trim Systems Operating Corp., as mortgagor, and U.S. National Bank National Association, as agent, dated August 4, 2009, with respect to the property located in Chillicothe, Xxxx County, Ohio; | |
6) | Deed of Trust, Assignment of Rents, Security Agreement and Fixture Filing by and between National Seating Company, as grantor, to Xxxxxxx X. Xxxxxxxxx, as trustee, for the benefit of U.S. Bank National Association, as beneficiary, dated August 4, 2009, with respect to the property located in Vonore, Monroe County, Tennessee; and | |
7) | Deed of Trust, Assignment of Rents, Security Agreement and Fixture Filing by and between Trim Systems Operating Corp., as grantor, to Xxxxx X. Xxxxxx, as trustee, for the benefit of U.S. Bank National Association, as beneficiary, dated August 4, 2009, with respect to the property located in Dublin, Pulaski County, Virginia. |
SCHEDULE 3.4
DEPOSIT ACCOUNTS
Last 4 Digits of Account | ||||||
Depository Bank | Type of Account | Number | ||||
US Bank N.A.
|
Checking (Master | 0995 | ||||
800 Nicollet Mall
|
Disbursement Account) | |||||
BC-MN-H03Q |
||||||
Xxxxxxxxxxx, XX 00000-0000 |
||||||
XX Bank N.A.
|
Checking (Main Account) | 2779 | ||||
800 Nicollet Mall |
||||||
BC-MN-H03Q |
||||||
Xxxxxxxxxxx, XX 00000-0000 |
||||||
XX Bank N.A.
|
Checking (Investment Sweep) | 0360 | ||||
800 Nicollet Mall |
||||||
BC-MN-H03Q |
||||||
Xxxxxxxxxxx, XX 00000-0000 |
||||||
XX Bank N.A.
|
Checking (Main Account) | 2191 | ||||
800 Nicollet Mall |
||||||
BC-MN-H03Q |
||||||
Xxxxxxxxxxx, XX 00000-0000 |
||||||
XX Bank N.A.
|
Checking (Controlled | 6475 | ||||
800 Nicollet Mall
|
Disbursement) | |||||
BC-MN-H03Q |
||||||
Xxxxxxxxxxx, XX 00000-0000 |
||||||
Citizens Bank of Xxxxxx County
|
Checking (Xxxxx Cash) | 1837 | ||||
000 Xxxx Xxxxxxxx |
||||||
Xxxxxxxxx, XX 00000-0000 |
||||||
XX Bank N.A.
|
Checking (Main Account) | 6654 | ||||
800 Nicollet Mall |
||||||
BC-MN-H03Q |
||||||
Xxxxxxxxxxx, XX 00000-0000 |
||||||
XX Bank N.A.
|
Checking (Controlled | 9081 | ||||
800 Nicollet Mall
|
Disbursement) | |||||
BC-MN-H03Q |
||||||
Xxxxxxxxxxx, XX 00000-0000 |
||||||
XX Bank N.A.
|
Checking (Main Account) | 8449 | ||||
800 Nicollet Mall |
||||||
BC-MN-H03Q |
||||||
Xxxxxxxxxxx, XX 00000-0000 |
||||||
XX Bank N.A.
|
Checking (Controlled | 7812 | ||||
800 Nicollet Mall
|
Disbursement) | |||||
BC-MN-H03Q |
||||||
Xxxxxxxxxxx, XX 00000-0000 |
||||||
Bank of America, N.A.
|
Checking | 5042 | ||||
X.X. Xxx 00000 |
||||||
Xxxxx, XX 00000-0000 |
||||||
Bank of America, N.A.
|
Checking (Xxxxx Cash) | 8675 | ||||
X.X. Xxx 00000 |
||||||
Xxxxx, XX 00000-0000 |
Last 4 Digits of Account | ||||||
Depository Bank | Type of Account | Number | ||||
Bank of America, N.A.
|
Checking (Xxxxx Cash) | 4338 | ||||
X.X. Xxx 00000 |
||||||
Xxxxx, XX 00000-0000 |
||||||
Columbia Credit Union
|
Checking (Xxxxx Cash) | 7474 | ||||
X.X. Xxx 000 |
||||||
Xxxxxxxxx, XX 00000 |
||||||
Branch Banking & Trust
|
Checking (Xxxxx Cash) | 7765 | ||||
Company of Virginia |
||||||
000 Xxxxx Xxxxxx |
||||||
X.X. Xxx 0000 |
||||||
Xxxxxx, XX 00000 |
||||||
XX Bank N.A.
|
Checking (Main Account) | 4544 | ||||
800 Nicollet Mall |
||||||
BC-MN-H03Q |
||||||
Xxxxxxxxxxx, XX 00000-0000 |
||||||
XX Bank N.A.
|
Checking (Controlled | 7549 | ||||
800 Nicollet Mall
|
Disbursement) | |||||
BC-MN-H03Q |
||||||
Xxxxxxxxxxx, XX 00000-0000 |
||||||
XX Bank N.A.
|
Checking (Workers Comp) | 3883 | ||||
800 Nicollet Mall |
||||||
BC-MN-H03Q |
||||||
Xxxxxxxxxxx, XX 00000-0000 |
||||||
XX Bank N.A.
|
Checking (Main Account) | 2897 | ||||
800 Nicollet Mall |
||||||
BC-MN-H03Q |
||||||
Xxxxxxxxxxx, XX 00000-0000 |
||||||
XX Bank N.A.
|
Checking (Controlled | 7952 | ||||
800 Nicollet Mall
|
Disbursement) | |||||
BC-MN-H03Q |
||||||
Xxxxxxxxxxx, XX 00000-0000 |
||||||
XX Bank N.A.
|
Checking (Main Account) | 6316 | ||||
800 Nicollet Mall |
||||||
BC-MN-H03Q |
||||||
Xxxxxxxxxxx, XX 00000-0000 |
||||||
XX Bank N.A.
|
Checking (Controlled | 9057 | ||||
800 Nicollet Mall
|
Disbursement) | |||||
BC-MN-H03Q |
||||||
Xxxxxxxxxxx, XX 00000-0000 |
||||||
XX Bank N.A.
|
Checking (Main Account) | 4528 | ||||
800 Nicollet Mall |
||||||
BC-MN-H03Q |
||||||
Xxxxxxxxxxx, XX 00000-0000 |
||||||
XX Bank N.A.
|
Checking (Controlled | 7275 | ||||
800 Nicollet Mall
|
Disbursement) | |||||
BC-MN-H03Q |
||||||
Xxxxxxxxxxx, XX 00000-0000 |
||||||
Fifth Third Bank
|
Checking (Xxxxx Cash) | 3230 | ||||
000 X. 0xx
Xxxxxx |
||||||
Xxxxxxxx Xxxx, XX 00000 |
Last 4 Digits of Account | ||||||
Depository Bank | Type of Account | Number | ||||
US Bank N.A.
|
Checking (Main Account) | 4882 | ||||
800 Nicollet Mall |
||||||
BC-MN-H03Q |
||||||
Xxxxxxxxxxx, XX 00000-0000 |
||||||
XX Bank N.A.
|
Checking (Controlled | 7697 | ||||
800 Nicollet Mall
|
Disbursement) | |||||
BC-MN-H03Q |
||||||
Xxxxxxxxxxx, XX 00000-0000 |
||||||
XX Bank N.A.
|
Checking (Workers Comp) | 3875 | ||||
800 Nicollet Mall |
||||||
BC-MN-H03Q |
||||||
Xxxxxxxxxxx, XX 00000-0000 |
||||||
National City Bank
|
Checking (Manual Checks) | 9431 | ||||
0 Xxxx Xxxx Xxxxxx |
||||||
Xxxxxxx, XX 00000 |
||||||
National City Bank
|
Checking (Xxxxx Cash) | 9458 | ||||
0 Xxxx Xxxx Xxxxxx |
||||||
Xxxxxxx, XX 00000 |
||||||
Huntington Bank
|
Checking (Hourly Payroll) | 7629 | ||||
0000 Xxxxxxx Xxxxxx |
||||||
Xxxxxxxxx, XX 00000 |
||||||
Huntington Bank
|
Checking (Xxxxx Cash) | 7616 | ||||
0000 Xxxxxxx Xxxxxx |
||||||
Xxxxxxxxx, XX 00000 |
||||||
Wachovia Bank, N.A.
|
Checking (Xxxxx Cash) | 4595 | ||||
X.X. Xxx 000000 |
||||||
Xxxxxxxxx, XX 00000-0000 |
||||||
XX Bank N.A.
|
Checking | 4635 | ||||
800 Nicollet Mall |
||||||
BC-MN-H03Q |
||||||
Xxxxxxxxxxx, XX 00000-0000 |
||||||
XX Bank N.A.
|
Checking (Manual Payroll) | 2889 | ||||
000 Xxxxxxxx Xxxx |
||||||
XX-XX-X00X |
||||||
Xxxxxxxxxxx, XX 00000-0000 |
||||||
Fifth Third Bank
|
Checking (Xxxxx Cash) | 9875 | ||||
000 X. Xxxx Xx. |
||||||
Xxx Xxxxxx, XX 00000 |
||||||
XX Bank N.A.
|
Checking | 2554 | ||||
800 Nicollet Mall |
||||||
BC-MN-H03Q |
||||||
Xxxxxxxxxxx, XX 00000-0000 |
||||||
Bank of America, N.A.
|
Blocked Account | 8576 | ||||
000 X. XxXxxxx, 0xx Xxxxx |
||||||
Xxxxxxx, XX 00000 |
||||||
Bank of America, N.A.
|
Operating Account | 8589 | ||||
000 X. XxXxxxx, 0xx Xxxxx |
||||||
Xxxxxxx, XX 00000 |
||||||
XX Bank N.A.
|
Checking (Workers Comp) | 8387 | ||||
000 Xxxxxxxx Xxxx |
||||||
XX-XX-X00X |
||||||
Xxxxxxxxxxx, XX 00000-0000 |
In addition, the following account numbers have been reserved with Bank of America, N.A., but have
not been activated:
Controlled Disbursement Account Numbers (CDA’s)
Company Name | Last 4 Digits of Account Number | |||
CVG Management Corporation |
8468 | |||
Xxxxxxx Devices |
8385 | |||
Trim Systems Operating Corporation |
8393 | |||
National Seating Company |
0000 | |||
Xxxxxxxxx Vehicle Systems, LLC |
8419 | |||
Monona Wire Corporation |
8427 | |||
Cabarrus Plastics, Inc. |
8435 | |||
CVG Oregon, LLC |
8443 | |||
CVG CS, LLC |
8450 | |||
Workers Comp / Manual Payroll Accounts |
Company Name | Last 4 Digits of Account Number | |||
CVG Management Corp — Manual Payroll |
0085 | |||
CVG Management Corp — Workers Comp |
0077 | |||
Trim Systems Operating Corp — Workers Comp |
0069 | |||
Mayflower Vehicle Systems — Workers Comp |
0051 | |||
Incoming Receipts ONLY Account Numbers (DDA’s) |
Company Name | Last 4 Digits of Account Number | |||
CVG Management Corporation |
2464 | |||
Xxxxxxx Devices |
2516 | |||
Trim Systems Operating Corporation |
3670 | |||
National Seating Company |
0000 | |||
Xxxxxxxxx Vehicle Systems, LLC |
2477 | |||
Monona Wire Corporation |
2312 | |||
Cabarrus Plastics, Inc. |
2451 | |||
CVG Oregon, LLC |
2480 | |||
CVG CS, LLC |
2448 | |||
Stand Alone Accounts |
Company Name | Last 4 Digits of Account Number | |||
CVG European Holdings, LLC |
2642 | |||
CVG International GP |
2684 |
SCHEDULE 3.5
LOCATIONS OF COLLATERAL
1. |
0000 Xxxxxx Xxxxxxx | 2. | 000 Xxxxx Xxxxxx | |||
Xxx Xxxxxx, XX 00000 | Xxxxxx, XX 00000 | |||||
3. |
0000 Xxxxx Xxxxxx Xxxxxx | 4. | 000 Xxxxx Xxxxxx Xxxxxx | |||
Xxxxxxx, XX 00000 | Xxxxxxxx, XX 00000 | |||||
5. |
0000 Xxxxxxx Xxxxx, Xxxxx 000 | 6. | 0000 Xxxxxxxxxx Xxxxx | |||
Xxxxxx, XX 00000 | Xxxxxxx, XX 00000 | |||||
7. |
0000 Xxxx Xxxxxx Xxxx | 8. | 0000 XX 0xx Xxxxxx | |||
Xxxxxxx, XX 00000 | Xxxxx, XX 00000 | |||||
9. |
000 Xxxx XX Xxxxxxx 00 | 10. | 000 Xxxxxxx 000 | |||
Xxxxxxxx Xxxx, XX 00000 | Xxxxxxxx Xxxx, XX 00000 | |||||
11. |
00000 Xxxx Xxxx | 12. | 000 Xxxxxxxx Xxxxx | |||
Xxxxx, XX 00000 | Xxxxxx, XX 00000 | |||||
13. |
0000 Xxxxx 000xx Xxxxxx | 14. | 000 Xxxx Xxxxxx | |||
Xxxx, XX 00000 | Xxxxxxxxxxx, XX 00000 | |||||
15. |
000 Xxxx Xxxxxx | 16. | 0000 Xxxxxxxx Xxxxxxx Xxxx | |||
Xxxxxxxxxxx, XX 00000 | Xxxxxx, XX 00000 | |||||
17. |
00 Xxx Xxxx Xxxx | 18. | 000 Xxxxxxxx Xxxx | |||
Xxxxxxxxx, XX 00000 | Tellico Xxxxxx, XX 00000 | |||||
19. |
000 Xxxx Xxxxxx Xxxxxx | 20. | 00 Xxxxxxx Xxxxx | |||
Xxxxxx, XX 00000 | Xxxxxxxxxxx, XX 00000 | |||||
21. |
000 Xxxxxxx Xxxx | 22. | 0000 Xxxxxxxxx Xxxxxxx | |||
Xxxxxx, XX 00000 | Xxxxxxxxxxx, XX 00000 | |||||
23. |
000 Xxxx Xxxxxxxxx Xxxxxx | 24. | 0000 Xxxxxxxxx Xxxxxx Xxxxx | |||
Xxxxxx, XX 00000 | Xxxxxxxxx, XX 00000 | |||||
25. |
0000 Xxxxxxxxx 00xx Xxxxxx | 26. | 000 Xxxx Xxxxxx Xxxxx | |||
Xxxxxxxxx, XX 00000 | Xxxxxx, XX 00000 | |||||
27. |
000 Xxxxxxx Xxxxx | 28. | 0000 XxXxxx Xxxx | |||
Xxxxxxx, XX 00000 | Xxxx Xxxxxx, XX 00000 | |||||
29. |
0000 Xxxxxxxxx Xxxxxxxx Xxxxxx | 30. | 000 Xxxxx Xxxxxxxxxxxx Xxxxxx | |||
Xxxxxx, XX 00000 | Xxxxx Xxxxxxxx, XX 00000 | |||||
31. |
00 Xxxxx Xxxxxxxx Xxxxxx | 32. | 00000 Xxxxx Xxxxx 0 | |||
Xxxxxxx, XX 00000 | Xxxxxxxxx, XX 00000 | |||||
33. |
000 Xxxxxxxx Xxxxxx | 34. | 00 Xxxxx Xxxx Xxxxxx | |||
Xxxxxxx, XX 00000 | Xxxxxxx, XX 00000 |
35. |
00xx Xxxxxx | 36. | 000 Xxxx Xxxx Xxxxxx | |||
Xxxxxxxx, XX 00000 | Xxxxxx, XX 00000 | |||||
37. |
000 Xxxxxxx Xxxxxx | 38. | Xxxxx 00 Xxxxxxx 00, # 000-0 | |||
Xxxxxxx, XX X0X 0X0 | Xxxx Xxxxxx, Xxxxxx, Xxxxxx | |||||
00. |
Xxxxxxxxx Xxxx-Xxxxxxx #000 | 00. | 000 Xxxxxxxx Xxxxxx Xxxxxxxxx | |||
Capilla de Guadelupe, Jalisco, Mexico | Xxxxxxx, XX 00000 | |||||
41. |
Xxxxx xxx Xxx Xxxxxxx xxx Xxx Xxxxxx | 00. | 0000 Xxxxxxxx Xxxxx, Xxxx 0 | |||
Xxxxx VIII and IX of Parque Industrial El Rio | Xxxxxxxxxxx, XX X0X 0X0 | |||||
Agua Prieta, Sonora, Mexico |
SCHEDULE 4(e)
NAMES AND CAPITAL STRUCTURE
1. | The corporate names, jurisdictions of incorporation, authorized and issued Equity Interests and record holders of such Equity Interests of each Obligor are as follows: |
Number and | ||||||||
Class of Issued | ||||||||
Number and | and | |||||||
Class of | Outstanding | Holder of Equity Interest | ||||||
Jurisdiction of | Authorized | Equity | and Number of | |||||
Obligor | Organization | Equity Interests | Interests | Shares/Units Helds | ||||
Delaware Delaware |
Common Stock: 30,000,000
shares Preferred Stock: 5,000,000 shares Common Stock: 2,000,000 shares Series A Preferred Stock: 100,000 shares “Blank Check” Preferred Stock: 2,700,000 shares |
Common Stock: 21,536,814
shares (as of 9/30/08) Common Stock: 1,705,888.803 shares |
The Common Stock of
Commercial Vehicle
Group, Inc. is
listed on the
NASDAQ under the
ticker symbol
“CVGI”. As such,
Commercial Vehicle
Group, Inc. is
required to make
periodic
disclosures in
filings with the
Securities and
Exchange Commission
regarding ownership
of its Common
Stock.
Commercial Vehicle Group, Inc. — 1,705,838.803 shares of Common Stock Xxxxxx Xxxx — 10 shares of Common Stock Jo Xxx Xxxx — 10 shares of Common Stock Xxxxx Xxxxxxxx — 30 shares of Common Stock |
|||||
CVG CS LLC
|
Delaware | n/a | n/a | National Seating Company — 100% of the Membership Interests | ||||
MONONA CORPORATION
|
Delaware | Common Stock — 100 shares | Common Stock — 100 shares | Commercial Vehicle Group, Inc. — 100 shares of Common Stock | ||||
Monona Wire Corporation
|
Iowa | Class A Common Stock — 1 share | Class A Common Stock — 1 share | MONONA CORPORATION - 1 share of Class A Common Stock | ||||
Monona (Mexico) Holdings LLC
|
Illinois | n/a | n/a | Monona Wire Corporation — 100% of the Membership Interests |
Number and | ||||||||
Class of Issued | ||||||||
Number and | and | |||||||
Class of | Outstanding | Holder of Equity Interest | ||||||
Jurisdiction of | Authorized | Equity | and Number of | |||||
Obligor | Organization | Equity Interests | Interests | Shares/Units Helds | ||||
Trim Systems, Inc.
|
Delaware | Class A-1 Common Stock:
400,000 shares Class A-2 Common Stock: 150,000 shares Class B Common Stock: |
Class A-1 Common Stock:
1,000 shares |
Commercial Vehicle Group, Inc. — 1,000 shares of Class A-1 Common Stock | ||||
450,000 shares Class C Common Stock: |
||||||||
100,000 shares | ||||||||
Trim Systems Operating Corp.
|
Delaware | Common Stock: 1,000 shares |
Common Stock: 1,000 shares |
Trim Systems, Inc. - 1,000 shares of Common Stock | ||||
CABARRUS PLASTICS, INC.
|
North Carolina | Common Stock: 100,000 shares |
Common Stock: 1,000 shares |
Trim Systems, Inc. - 1,000 shares of Common Stock | ||||
CVG Oregon, LLC
|
Delaware | n/a | n/a | Trim Systems Operating Corp. - 100% of the Membership Interests | ||||
CVS Holdings, Inc.
|
Delaware | Common Stock: 125,000 shares |
Common Stock: 124,908 shares |
Commercial Vehicle Group, Inc. - 124,908 shares of Common Stock | ||||
Xxxxxxx Devices, Inc.
|
Delaware | Common Stock — 1,000 shares | Common Stock — 1,000 shares | CVS Holdings, Inc. - 1,000 shares of Common Stock | ||||
Mayflower Vehicle Systems,
LLC
|
Delaware | n/a | n/a | Commercial Vehicle Group, Inc. — 100% of the Membership Interests | ||||
CVG Management Corporation
|
Delaware | Common Stock — 100 shares | Common Stock — 100 shares | Commercial Vehicle Group, Inc. — 100 shares of Common Stock | ||||
CVG European Holdings, LLC
|
Delaware | n/a | n/a | Commercial Vehicle Group, Inc. — 100% of the Membership Interests | ||||
CVG Logistics, LLC
|
Delaware | n/a | n/a | Commercial Vehicle Group, Inc. — 100% of the Membership Interests |
2. | All agreements binding on holders of Equity Interests of Grantors with respect to such interests are as follows: |
(a) | Registration Agreement by and among Xxxxxxx Holding, Inc. and certain of its stockholders, dated as of October 5, 2000. | ||
(b) | Change in Control & Non-Competition Agreement by and between Commercial Vehicle Group, Inc., its subsidiaries, successors and assigns and Xxxxxx Xxxx, dated as of April 5, 2006. | ||
(c) | Change in Control & Non-Competition Agreement by and between Commercial Vehicle Group, Inc., its subsidiaries, successors and assigns and Xxxxxx X. Xxxxxxxxx, dated as of April 5, 2006. | ||
(d) | Change in Control & Non-Competition Agreement by and between Commercial Vehicle Group, Inc., its subsidiaries, successors and assigns and Xxxx X. Xxxxx, dated as of April 5, 2006. | ||
(e) | Change in Control & Non-Competition Agreement by and between Commercial Vehicle Group, Inc., its subsidiaries, successors and assigns and Xxxxx X. Xxxxxxxx, dated as of April 5, 2006. | ||
(f) | Change in Control & Non-Competition Agreement by and between Commercial Vehicle Group, Inc., its subsidiaries, successors and assigns and Xxxxxxx Xxxxxx Xxxx, dated as of May 22, 2007. | ||
(g) | Change in Control & Non-Competition Agreement by and between Commercial Vehicle Group, Inc., its subsidiaries, successors and assigns and Xxxxx X. Xxxxxxx, dated as of May 22, 2007. |
3. | All outstanding purchase options, warrants, subscription rights, agreements to issue or sell, or convertible interests relating to Equity Interests of any Grantor are as follows: |
(a) | Options and other rights relating to the equity of Commercial Vehicle Group, Inc. granted under the Xxxxxxx Holding, Inc. 2004 Stock Option Plan, adopted May 20, 2004. | ||
(b) | Commercial Vehicle Group, Inc. Second Amended and Restated Equity Incentive Plan, adopted May 22, 2007. | ||
(c) | Certificate of Incorporation of National Seating Company. | ||
(d) | Commercial Vehicle Group, Inc. Third Amended and Restated Equity Incentive Plan, adopted May 14, 2009. | ||
(e) | Stockholder Rights Plan, adopted May 21, 2009. |
4. | Within the five years preceding the date hereof, Grantors have consummated the following transactions: |
(a) | On December 4, 2007, CVG CS LLC acquired substantially all of the assets of Short Bark Industries, LLC. | ||
(b) | On October 31, 2007, CVG Oregon LLC acquired the heavy-gauge thermoforming and injection molding assets of the Fabrication Division of Gage Industries, Inc. | ||
(c) | On February 7, 2005, CVG Acquisition LLC (Mayflower Vehicle Systems, LLC) acquired substantially all of the assets of Mayflower Vehicle Systems, Inc. | ||
(d) | On September 15, 2004, Trim Systems, L.L.C. and Tempress, Inc. merged up and into Trim Systems Operating Corp. with Trim Systems Operating Corp. as the surviving entity. | ||
(e) | On August 2, 2004, Trim Merger Co., a wholly-owned subsidiary of Commercial Vehicle Group, Inc., merged into Trim Systems, Inc. with Trim Systems, Inc. as the surviving entity. |
SCHEDULE 4(f)
PATENTS, TRADEMARKS, COPYRIGHTS AND LICENSES
1. Inbound licenses:
Licensor | Description of License | Term of License | Royalties Payable | |||
VEC Technology, LLC
|
Limited, exclusive, non-transferable, royalty free, right and license to use the VEC IP solely in connection with the production of parts or components for heavy duty trucks | Continuously until written termination sent to Licensor, unless the VEC Cell Sales Agreement is terminated | None |
2. Copyrights:
Registration | Registration | |||||
Title | Number | Date | Owner | |||
TRIM SYSTEMS NEW
CONCEPT INTERIOR
STYLE A
|
TXu1143606 | 09/25/2002 | Trim Systems Operating Corp. | |||
TRIM SYSTEMS NEW
CONCEPT INTERIOR
STYLE B
|
TXu1143605 | 09/25/2002 | Trim Systems Operating Corp. | |||
TRIM SYSTEMS
REFRESH INTERIOR
STYLE B
|
TXu1143604 | 09/25/2002 | Trim Systems Operating Corp. | |||
TRIM SYSTEMS
REFRESH INTERIOR
STYLE A
|
TXu1143603 | 09/25/2002 | Trim Systems Operating Corp. |
3. Patents:
COMMERCIAL VEHICLE SYSTEMS, INC.
Patent No. | Pub. No./ | Applic. No./ | ||||||||||
Title | Country | Issue Date | Pub. Date | Filing Date | Status | Owner | ||||||
BALL JOINT STRUCTURE
|
USA | 4552480 11/12/1985 |
06/626236 06/29/1984 |
EXPIRED | Commercial Vehicle Systems, Inc. | |||||||
ROTATABLE MIRROR
ASSEMBLY
|
USA | 5566029 10/15/1996 |
07/792460 11/15/1991 |
EXPIRED | Commercial Vehicle Systems, Inc. | |||||||
MAGNETIC SPRING
ALIGNMENT AND
HANDLING SYSTEM
|
Australia | 2001247783 10/15/2001 |
2001247783 03/22/2001 |
ABANDONED | Commercial Vehicle Systems, Inc. | |||||||
BRAKE FAILURE
DETECTION METHOD
AND APPARATUS
|
Australia | 2001236719 08/20/2001 |
2001236719 02/07/2001 |
ABANDONED | Commercial Vehicle Systems, Inc. | |||||||
SYNCHRONIZATION
SYSTEM FOR MOTORS
|
Australia | 200023986 07/31/2000 |
200023986 12/29/1999 |
ABANDONED | Commercial Vehicle Systems, Inc. | |||||||
SYNCHRONIZATION
SYSTEM FOR MOTORS
|
Canada | 2358317 09/23/2008 |
2358317 12/29/1999 |
IN FORCE | Commercial Vehicle Systems, Inc. |
CVG MANAGEMENT CORPORATION
Patent No. | Pub. No./ | Applic. No./ | ||||||||||
Title | Country | Issue Date | Pub. Date | Filing Date | Status | Owner | ||||||
HOLDER
|
USA | US20080296332 12/04/2008 |
11/757073 06/01/2007 |
PENDING | Commercial Vehicle Group, Inc. | |||||||
SYSTEM AND METHOD
OF FORMING A
PROTECTIVE COVERING
FOR A WIRE HARNESS
|
USA | 12/055070 03/25/2008 |
PENDING | CVG Management Corporation | ||||||||
VEHICLE SEATING
SYSTEM WITH
PIVOTING STOP
MECHANISM AND
|
USA | 12/235842 09/23/2008 |
PENDING | CVG Management Corporation | ||||||||
METHOD
VEHICLE SEAT |
USA |
29/324/908 09/23/2008 |
PENDING | CVG Management Corporation | ||||||||
ADJUSTABLE SLIDING
ARMREST
|
USA | 61/177,938 05/13/2009 |
PENDING | CVG Management Corporation | ||||||||
THERMALLY AND
ACOUSTICALLY
INSULATIVE VEHICLE
FLOORING SYSTEM
|
USA | 61/177,941 05/13/2009 |
PENDING | CVG Management Corporation | ||||||||
VEHICLE SEAT SYSTEM
|
USA | 7510240 03/31/2009 |
11/263,763 10/31/2005 |
IN FORCE | CVG Management Corporation | |||||||
VEHICLE SEAT SYSTEM
|
USA | 12/411,079 03/25/2009 |
PENDING | CVG Management Corporation | ||||||||
MOVABLE ARMREST
|
USA | US20080093908 04/24/2008 |
11/551,067 10/19/2006 |
TO BE ABANDONED | CVG Management Corporation |
NATIONAL SEATING COMPANY
Patent No. | Pub. No./ | Applic. No./ | ||||||||||||
Title | Country | Issue Date | Pub. Date | Filing Date | Status | Owner | ||||||||
TRUCK SEAT HEIGHT
POSITIONING SYSTEM
|
USA | 20030038221 02/27/2003 |
10/156854 05/30/2002 |
ABANDONED | National Seating Company | |||||||||
VEHICLE SEATING
SYSTEM WITH
|
USA | 7152839 12/26/2006 |
11/079699 03/14/2005 |
IN FORCE | National Seating Company | |||||||||
IMPROVED VIBRATION
ISOLATION |
||||||||||||||
VEHICLE SEATING
SYSTEM WITH
IMPROVED VIBRATION
ISOLATION
|
USA | 6866236 03/15/2005 |
10/369357 02/18/2003 |
IN FORCE | National Seating Company | |||||||||
SPRING BIASED
ROTARY AIR VALVE
|
USA | 5983940 11/16/1999 |
09/159036 09/23/1998 |
IN FORCE | National Seating Company | |||||||||
BASE ASSEMBLY FOR
USE WITH A
SUSPENSION SYSTEM
OF A VEHICLE SEAT
|
USA | 5542638 08/06/1996 |
08/259475 06/14/1994 |
IN FORCE | National Seating Company |
Patent No. | Pub. No./ | Applic. No./ | ||||||||||||
Title | Country | Issue Date | Pub. Date | Filing Date | Status | Owner | ||||||||
SYSTEM AND METHOD
FOR REMOTELY
MONITORING MOVEMENT
OF INDIVIDUALS
|
USA | 6696957 02/24/2004 |
10/156254 05/28/2002 |
IN FORCE | National Seating Company | |||||||||
FRAME ASSEMBLY FOR
A VEHICLE SEAT
|
USA | 5501509 03/26/1996 |
08/235429 04/29/1994 |
EXPIRED | National Seating Company | |||||||||
PNEUMATIC SPRING
FOR A VEHICLE SEAT
|
USA | 5234203 08/10/1993 |
07/793602 11/18/1991 |
EXPIRED | National Seating Company | |||||||||
SPRING SEAT AND AIR
PUMP
|
USA | 4954051 09/04/1990 |
07/282515 01/12/1989 |
EXPIRED | National Seating Company | |||||||||
AIR SPRING SEAT AND
AIR PUMP
|
USA | 4809944 03/07/1989 |
07/103934 10/02/1987 |
EXPIRED | National Seating Company | |||||||||
VEHICLE SEATING
SYSTEM WITH
IMPROVED VIBRATION
ISOLATION
|
Canada | 2,515,000 | 0000000 09/02/2004 |
2515781 02/19/2003 |
ISSUED | National Seating Company | ||||||||
VEHICLE SEATING
SYSTEM WITH
IMPROVED VIBRATION
ISOLATION
|
China |
ZL20038010981 04/29/2009 |
1751203 03/22/2006 |
801009811 02/19/2003 |
IN FORCE | National Seating Company | ||||||||
VEHICLE SEATING
SYSTEM WITH
IMPROVED VIBRATION
ISOLATION
|
EPO | 1597510 10/31/2007 |
716067 02/19/2003 |
IN FORCE | National Seating Company | |||||||||
VEHICLE SEATING
SYSTEM WITH
IMPROVED VIBRATION
ISOLATION
|
Mexico | PA/a/2005/008723 02/19/2003 |
PENDING | National Seating Company | ||||||||||
SPRING BIASED
ROTARY AIR VALVE
|
Canada | 2250644 07/25/2006 |
2250644 10/14/1998 |
IN FORCE | National Seating Company | |||||||||
SPRING BIASED
ROTARY AIR VALVE
|
Germany | 69824809 08/18/2005 |
69824809 10/16/1998 |
IN FORCE | National Seating Company | |||||||||
SPRING BIASED
ROTARY AIR VALVE
|
EPO | 913606 6/30/2004 |
08203484.5 10/16/1998 |
IN FORCE | National Seating Company | |||||||||
SPRING BIASED
ROTARY AIR VALVE
|
Mexico | 211458 11/19/2002 |
088703 10/20/1998 |
IN FORCE | National Seating Company | |||||||||
SPRING BIASED
ROTARY AIR VALVE
|
UK | 0913606 06/30/2004 |
0203484.5 10/16/1998 |
IN FORCE | National Seating Company |
XXXXXXX DEVICES, INC.
Patent No. | Pub. No./ | Applic. No./ | ||||||||||||
Title | Country | Issue Date | Pub. Date | Filing Date | Status | Owner | ||||||||
WINDSHIELD WIPER
ASSEMBLY WITH
TUBULAR FRAME
MEMBER
|
USA | 7389562 06/24/2008 |
20040244134 12/09/2004 |
10/771894 02/04/2004 |
IN FORCE | Xxxxxxx Devices, Inc. | ||||||||
FLUID AND AIR
NOZZLE AND METHOD
FOR CLEANING
VEHICLE LENSES
|
USA | 6554210 04/29/2003 |
09/804681 03/12/2001 |
IN FORCE | Xxxxxxx Devices, Inc. | |||||||||
MAGNETIC SPRING
ALIGNMENT AND
HANDLING SYSTEM
|
USA | 6378187 04/30/2003 |
09/540005 03/30/2000 |
ABANDONED | Xxxxxxx Devices, Inc. |
Patent No. | Pub. No./ | Applic. No./ | ||||||||||||
Title | Country | Issue Date | Pub. Date | Filing Date | Status | Owner | ||||||||
TRACTION ENHANCING
DEPLOYMENT SYSTEM
|
USA | 6206299 03/27/2001 |
09/293276 04/16/1999 |
IN FORCE | Xxxxxxx Devices, Inc. | |||||||||
FLUID AND AIR
NOZZLE FOR
HEADLIGHT CLEANING
|
USA | 6199773 03/13/2001 |
09/451257 11/29/1999 |
IN FORCE | Xxxxxxx Devices, Inc. | |||||||||
IMMINENT ICING
CONDITION
ENUNCIATOR
|
USA | 6166657 12/26/2000 |
09/110769 07/06/1998 |
IN FORCE | Xxxxxxx Devices, Inc. | |||||||||
SYNCHRONIZATION
SYSTEM FOR MOTORS
|
USA | 6147466 11/14/2000 |
09/223114 12/30/1998 |
IN FORCE | Xxxxxxx Devices, Inc. | |||||||||
VEHICLE LIGHTING
CONTROL SYSTEM
|
USA | 6456195 09/24/2002 |
09/141652 08/28/1998 |
IN FORCE | Xxxxxxx Devices, Inc. | |||||||||
IMMINENT ICING
CONDITION
ENUNCIATOR
|
USA | 5796344 08/18/1998 |
08/596451 02/02/1996 |
IN FORCE | Xxxxxxx Devices, Inc. | |||||||||
AIR-LIQUID SYSTEM
FOR CLEANING
VEHICLE HEADLIGHT
LENS AND SIMILAR
SURFACES
|
USA | 5657929 08/19/1997 |
08/583343 01/05/1996 |
IN FORCE | Xxxxxxx Devices, Inc. | |||||||||
DEVICE FOR
SWITCHING CONTROL
OF VEHICLE
ACCESSORIES BETWEEN
VEHICLE CONTROL
STATIONS
|
USA | 5637927 06/10/1997 |
08/628272 04/05/1996 |
IN FORCE | Xxxxxxx Devices, Inc. | |||||||||
WINDSHIELD WIPER
ASSEMBLY WITH ARM
HEAD RETAINING
MEANS
|
USA | 5634235 06/03/1997 |
08/685449 07/19/1996 |
IN FORCE | Xxxxxxx Devices, Inc. | |||||||||
WINDSHIELD WASHER
CONTROL SYSTEM
|
USA | 5551232 09/03/1996 |
08/347969 12/01/1994 |
IN FORCE | Xxxxxxx Devices, Inc. | |||||||||
ELECTRONICALLY
CONTROLLED FLUID
POWERED MOTOR
|
USA | 5427012 06/27/1995 |
08/201788 02/25/1994 |
IN FORCE | Xxxxxxx Devices, Inc. | |||||||||
DIRECTION CONTROL
MEANS FOR VEHICLE
CLIMATE CONTROL
MEANS
|
USA | 5281049 01/25/1994 |
07/868471 04/14/1992 |
IN FORCE | Xxxxxxx Devices, Inc. | |||||||||
HEATER AND AIR
CONDITIONING
CONTROL SYSTEM
|
USA | 4880031 11/14/1989 |
07/186918 04/27/1988 |
EXPIRED | Xxxxxxx Devices, Inc. | |||||||||
RECIPROCATING
PISTON FLUID
POWERED MOTOR
|
USA | 4708053 11/24/1987 |
06/797506 11/13/1985 |
EXPIRED | Xxxxxxx Devices, Inc. | |||||||||
RECIPROCATING
PISTON FLUID
POWERED MOTOR
|
USA | 4632013 12/30/1986 |
06/623080 06/21/1984 |
EXPIRED | Xxxxxxx Devices, Inc. | |||||||||
ELECTRONICALLY
CONTROLLED FLUID
POWERED MOTOR
|
Canada | 2143408 11/30/2004 |
2143408 02/24/1995 |
IN FORCE | Xxxxxxx Devices, Inc. | |||||||||
ELECTRONICALLY
CONTROLLED FLUID
POWERED MOTOR
|
Canada | 2164030 02/13/2007 |
2164030 11/29/1995 |
IN FORCE | Xxxxxxx Devices, Inc. | |||||||||
ELECTRONICALLY
CONTROLLED FLUID
POWERED MOTOR
|
UK | 2286859 10/08/1997 |
19953559 02/22/1995 |
IN FORCE | Xxxxxxx Devices, Inc. | |||||||||
ELECTRONICALLY
CONTROLLED FLUID
POWERED MOTOR
|
UK | 2295536 08/05/1998 |
199524521 11/30/1995 |
IN FORCE | Xxxxxxx Devices, Inc. | |||||||||
ELECTRONICALLY
CONTROLLED FLUID
POWERED XXXXX
|
Xxxxxx | 000000 02/09/2007 |
19951086 02/23/1995 |
IN FORCE | Xxxxxxx Devices, Inc. | |||||||||
ELECTRONICALLY
CONTROLLED FLUID
POWERED MOTOR
|
Mexico | 193187 08/30/1999 |
955012 11/30/1995 |
IN FORCE | Xxxxxxx Devices, Inc. | |||||||||
FLUID AND AIR
NOZZLE FOR
HEADLIGHT CLEANING
|
Austria | AT404292 (T) 8/15/2008 |
941322 06/08/2000 |
PENDING | Xxxxxxx Devices, Inc. |
Patent No. | Pub. No./ | Applic. No./ | ||||||||||||
Title | Country | Issue Date | Pub. Date | Filing Date | Status | Owner | ||||||||
FLUID AND AIR
NOZZLE FOR
HEADLIGHT CLEANING
|
Canada | 2374300 12/21/2000 |
2374300 06/08/2000 |
ABANDONED | Xxxxxxx Devices, Inc. | |||||||||
FLUID AND AIR
NOZZLE FOR
HEADLIGHT CLEANING
|
Germany | 60039872 09/25/2008 |
60039872 06/08/2000 |
IN FORCE | Xxxxxxx Devices, Inc. | |||||||||
FLUID AND AIR
NOZZLE FOR
HEADLIGHT CLEANING
|
EPO | 1377383 08/08/2007 |
709828 03/12/2002 |
ABANDONED | Xxxxxxx Devices, Inc. | |||||||||
FLUID AND AIR
NOZZLE FOR
HEADLIGHT CLEANING
|
EPO | 1187682 08/12/2008 |
941322 06/08/2000 |
IN FORCE | Xxxxxxx Devices, Inc. | |||||||||
FLUID AND AIR
NOZZLE FOR
HEADLIGHT CLEANING
|
UK | 1187682 08/12/2008 |
941322 06/08/2000 |
IN FORCE | Xxxxxxx Devices, Inc. | |||||||||
FLUID AND AIR
NOZZLE FOR
HEADLIGHT CLEANING
|
Japan | 532511 11/05/2003 |
502988 06/08/2000 |
ABANDONED | Xxxxxxx Devices, Inc. | |||||||||
FLUID AND AIR
NOZZLE FOR
HEADLIGHT CLEANING
|
Mexico | PA012599 07/14/2003 |
PA012599 12/06/2001 |
ABANDONED | Xxxxxxx Devices, Inc. | |||||||||
WINDSHIELD WIPER
ASSEMBLY WITH
TUBULAR FRAME
MEMBER
|
Canada | 2515071 08/19/2004 |
2515071 02/04/2004 |
PENDING | Xxxxxxx Devices, Inc. | |||||||||
WINDSHIELD WIPER
ASSEMBLY WITH
TUBULAR FRAME
MEMBER
|
EPO | 1597119 11/23/2005 |
708144 02/04/2004 |
ABANDONED | Xxxxxxx Devices, Inc. | |||||||||
WINDSHIELD WIPER
ASSEMBLY WITH
TUBULAR FRAME
MEMBER
|
Mexico | 252626 | PA/a/2005/008279 02/04/2004 |
ISSUED | Xxxxxxx Devices, Inc. | |||||||||
DEVICE FOR
SWITCHING CONTROL
OF VEHICLE
ACCESSORIES BETWEEN
VEHICLE CONTROL
STATIONS
|
Canada | 2180861 10/02/2001 |
2180861 07/09/1996 |
IN FORCE | Xxxxxxx Devices, Inc. | |||||||||
DEVICE FOR
SWITCHING CONTROL
OF VEHICLE
ACCESSORIES BETWEEN
VEHICLE CONTROL
STATIONS
|
UK | 2311875 02/10/1999 |
199616124 08/01/1996 |
IN FORCE | Xxxxxxx Devices, Inc. | |||||||||
DEVICE FOR
SWITCHING CONTROL
OF VEHICLE
ACCESSORIES BETWEEN
VEHICLE CONTROL
STATIONS
|
UK | 2318429 02/10/1999 |
199725176 08/01/1996 |
IN FORCE | Xxxxxxx Devices, Inc. | |||||||||
DEVICE FOR
SWITCHING CONTROL
OF VEHICLE
ACCESSORIES BETWEEN
VEHICLE XXXXXXX
XXXXXXXX
|
Xxxxxx | 000000 7/11/2000 |
971415 02/25/1997 |
IN FORCE | Xxxxxxx Devices, Inc. | |||||||||
AIR-LIQUID SYSTEM
FOR CLEANING
VEHICLE HEADLIGHT
LENS AND SIMILAR
SURFACES
|
Canada | 2227199 04/11/2006 |
2227199 07/29/1996 |
IN FORCE | Xxxxxxx Devices, Inc. | |||||||||
AIR-LIQUID SYSTEM
FOR CLEANING
VEHICLE HEADLIGHT
LENS AND SIMILAR
SURFACES
|
Denmark | 848650 02/09/2004 |
1996926185 07/29/1996 |
ABANDONED | Xxxxxxx Devices, Inc. | |||||||||
AIR-LIQUID SYSTEM
FOR CLEANING
VEHICLE HEADLIGHT
LENS AND SIMILAR
SURFACES
|
Spain | 2205050 05/01/2004 |
1996916185 07/29/1996 |
ABANDONED | Xxxxxxx Devices, Inc. | |||||||||
AIR-LIQUID SYSTEM
FOR CLEANING
VEHICLE XXXXXXXXX
XXXX XXX XXXXXXX
XXXXXXXX
|
Xxxxxx | 000000 06/13/2002 |
1998766 01/27/1998 |
IN FORCE | Xxxxxxx Devices, Inc. |
4. | Trademarks: |
COMMERCIAL VEHICLE GROUP, INC.
Application | ||||||||||
Ser. No. / | Registration No. / | |||||||||
Jurisdiction | Xxxx | Filing Date | Registration Date | Status | Record Owner | |||||
USA
|
GSX-3000 | 77/573007 09/18/2008 |
PENDING | Commercial Vehicle Group, Inc. | ||||||
USA
|
77/351408 12/13/2007 |
3563355 01/20/2009 |
REGISTERED | Commercial Vehicle Group, Inc. | ||||||
USA
|
MOTO MIRROR | 75/274146 04/14/1997 |
2171097 07/07/1998 |
REGISTERED | Commercial Vehicle Group, Inc. | |||||
USA
|
COMFORTEK | 77/733,983 05/11/2009 |
PENDING | Commercial Vehicle Group, Inc. | ||||||
USA
|
MOTO MIRROR PLUS |
75/225022 01/13/1997 |
2185420 09/01/1998 |
REGISTERED | Commercial Vehicle Group, Inc. | |||||
USA
|
CVG COMMERCIAL
VEHICLE GROUP |
78/380087 03/08/2004 |
3108626 06/27/2006 |
REGISTERED | Commercial Vehicle Group, Inc. | |||||
International
Register
|
CVG COMMERCIAL
VEHICLE Group |
868556 08/09/2004 |
868556 08/09/2004 |
REGISTERED | Commercial Vehicle Group, Inc. | |||||
Mexico
|
CVG Commercial Vehicle Group & Design | 676042 09/08/2004 |
885997 06/16/2005 |
REGISTERED | Commercial Vehicle Group, Inc. | |||||
Mexico
|
CVG Commercial Vehicle Group & Design | 676040 09/08/2004 |
885480 06/14/2005 |
REGISTERED | Commercial Vehicle Group, Inc. | |||||
Mexico
|
CVG Commercial Vehicle Group & Design | 676041 09/08/2004 |
1069667 10/30/2008 |
REGISTERED | Commercial Vehicle Group, Inc. | |||||
Mexico
|
CVG Commercial Vehicle Group & Design | 676043 09/08/2004 |
885809 06/15/2005 |
REGISTERED | Commercial Vehicle Group, Inc. | |||||
Australia
|
CVG Commercial Vehicle Group & Design | 868556 03/08/2004 |
868556 09/08/2004 |
REGISTERED | Commercial Vehicle Group, Inc. | |||||
Benelux
|
CVG Commercial Vehicle Group & Design | 868556 09/08/2004 |
868556 09/08/2004 |
REGISTERED | Commercial Vehicle Group, Inc. |
Application | ||||||||||
Ser. No. / | Registration No. / | |||||||||
Jurisdiction | Xxxx | Filing Date | Registration Date | Status | Record Owner | |||||
China
|
CVG Commercial Vehicle Group & Design | 868556 09/08/2004 |
868556 09/08/2004 |
REGISTERED | Commercial Vehicle Group, Inc. | |||||
Germany
|
CVG Commercial Vehicle Group & Design | 868556 09/08/2004 |
868556 09/08/2004 |
REGISTERED | Commercial Vehicle Group, Inc. | |||||
Japan
|
CVG Commercial Vehicle Group & Design | 868556 09/08/2004 |
868556 09/08/2004 |
REGISTERED | Commercial Vehicle Group, Inc. | |||||
Poland
|
CVG Commercial Vehicle Group & Design | 868556 09/08/2004 |
868556 09/08/2004 |
REGISTERED | Commercial Vehicle Group, Inc. | |||||
Sweden
|
CVG Commercial Vehicle Group & Design | 868556 09/08/2004 |
868556 09/08/2004 |
REGISTERED | Commercial Vehicle Group, Inc. | |||||
UK
|
CVG Commercial Vehicle Group & Design | 868556 09/08/2004 |
868556 06/21/2004 |
REGISTERED | Commercial Vehicle Group, Inc. | |||||
Australia
|
MOTO MIRROR | 1243977 06/02/2008 |
PENDING | Commercial Vehicle Group, Inc. | ||||||
Canada
|
MOTO MIRROR | 1386479 03/07/2008 |
PENDING | Commercial Vehicle Group, Inc. | ||||||
Mexico
|
MOTO MIRROR | 938920 06/05/2008 |
PENDING | Commercial Vehicle Group, Inc. | ||||||
Australia
|
731907 04/09/1997 |
731907 04/09/1997 |
REGISTERED | Commercial Vehicle Group, Inc. | ||||||
Canada
|
Moto Mirror & Design | 0841627 04/30/1997 |
496171 06/16/1998 |
REGISTERED | Commercial Vehicle Group, Inc. | |||||
Mexico
|
Moto Mirror & Design | 291918 04/10/1997 |
614348 06/21/1999 |
REGISTERED | Commercial Vehicle Group, Inc. | |||||
Sweden
|
Moto Mirror & Design | 199703525 04/10/1997 |
333447 10/15/1999 |
REGISTERED | Commercial Vehicle Group, Inc. | |||||
MAYFLOWER VEHICLE SYSTEMS, LLC
|
||||||||||
Application Ser. | Registration No. / | |||||||||
Jurisdiction | Xxxx | No./ Filing Date | Registration Date | Status | Record Owner | |||||
USA
|
MAYFLOWER | 78/114104 03/11/2002 |
2797473 12/23/2003 |
REGISTERED | CVG Acquisition, LLC/Mayflower Vehicle Systems, LLC | |||||
USA
|
MAYFLOWER DESIGN | 78/159133 08/29/2002 |
2781928 11/11/2003 |
REGISTERED | CVG Acquisition, LLC/Mayflower Vehicle Systems, LLC |
MONONA WIRE CORPORATION
Application | ||||||||||
Ser. No./ | Registration No. / | |||||||||
Jurisdiction | Xxxx | Filing Date | Registration Date | Status | Record Owner | |||||
USA
|
MWC |
76/170439 11/22/2000 |
2644034 10/29/2002 |
REGISTERED | Monona Wire Corporation |
NATIONAL SEATING COMPANY
Application | ||||||||||
Ser. No./ | Registration No. / | |||||||||
Jurisdiction | Xxxx | Filing Date | Registration Date | Status | Record Owner | |||||
USA
|
EASY-AIRE | 77/767410 06/24/2009 |
PENDING | National Seating Company | ||||||
USA
|
CUSH-N-AIRE | 73/510052 11/23/1984 |
1340589 06/11/1985 |
REGISTERED | National Seating Company | |||||
USA
|
CHUGGER SNUBBER | 72/379153 12/21/1970 |
0933827 05/16/1972 |
REGISTERED | National Seating Company |
XXXXXXX DEVICES, INC.
Application | ||||||||||
Ser. No./ Filing | Registration No. / | |||||||||
Jurisdiction | Xxxx | Date | Registration Date | Status | Record Owner | |||||
USA
|
AIR PUSH |
71/499442 04/01/1946 |
0442654 05/10/1949 |
REGISTERED | Xxxxxxx Devices, Inc. | |||||
USA
|
AIR-PUSH | 72/315270 12/26/1968 |
0876384 09/09/1969 |
REGISTERED | Xxxxxxx Devices, Inc. | |||||
USA
|
XXXXXXX DEVICES | 74/165295 05/10/1991 |
1727180 10/27/1992 |
REGISTERED | Xxxxxxx Devices, Inc. | |||||
USA
|
M3 CLUTCH | 74/528750 05/24/1994 |
1911257 08/15/1995 |
REGISTERED | Xxxxxxx Devices, Inc. | |||||
USA
|
ROADWATCH | 75/093148 04/23/1996 |
2159429 05/19/1998 |
REGISTERED | Xxxxxxx Devices, Inc. |
Application | ||||||||||
Ser. No./ Filing | Registration No. / | |||||||||
Jurisdiction | Xxxx | Date | Registration Date | Status | Record Owner | |||||
USA
|
SPRA-KLEER | 75/633885 02/04/1999 |
2323981 02/29/2000 |
REGISTERED | Xxxxxxx Devices, Inc. | |||||
USA
|
ROADWATCH |
78/060174 04/24/2001 |
2664644 12/17/2002 |
REGISTERED | Xxxxxxx Devices, Inc. | |||||
USA
|
CLEARVIEW | 78/034718 11/10/2000 |
2774082 10/14/2003 |
REGISTERED | Xxxxxxx Devices, Inc. | |||||
USA
|
KEYFREE | 78/199096 12/31/2002 |
2788931 12/02/2003 |
REGISTERED | Xxxxxxx Devices, Inc. | |||||
USA
|
CAMERAWASH | 78/250480 05/15/2003 |
2890577 09/28/2004 |
REGISTERED | Xxxxxxx Devices, Inc. | |||||
USA
|
ROADWATCH 3 | 78/250521 05/15/2003 |
2908310 12/07/2004 |
REGISTERED | Xxxxxxx Devices, Inc. | |||||
USA
|
ROADWATCH SS
ROADWATCH SAFETY
SYSTEM |
78/974111 09/14/2006 |
3268437 07/24/2007 |
REGISTERED | Xxxxxxx Devices, Inc. | |||||
USA
|
LIGHTWASH | 75/878069 12/21/1999 |
2595106 07/16/2002 |
REGISTERED | Xxxxxxx Devices, Inc. | |||||
Canada
|
AIR PUSH | 0419184 12/21/1977 |
TMA239182 01/18/1980 |
REGISTERED | Xxxxxxx Devices, Inc. | |||||
Mexico
|
AIR PUSH | 24971 11/08/1968 |
148448 11/08/1968 |
REGISTERED | Xxxxxxx Devices, Inc. | |||||
Australia
|
XXXXXXX & Design |
314132 12/19/1977 |
B 314132 12/19/1977 |
REGISTERED | Xxxxxxx Devices, Inc. | |||||
Canada
|
XXXXXXX & Design |
0419183 12/21/1977 |
TMA240302 03/07/1980 |
REGISTERED | Xxxxxxx Devices, Inc. | |||||
Mexico
|
XXXXXXX & Design |
24970 11/08/1968 |
147923 11/08/1968 |
REGISTERED | Xxxxxxx Devices, Inc. |
5. Trade Names
TRIM SYSTEMS OPERATING CORP.
Application Ser. | ||||||||||
No./ | Registration No. / | |||||||||
Jurisdiction | Xxxx | Filing Date | Registration Date | Status | Record Owner | |||||
Canada
|
O3 & Design |
0836270 02/11/1997 |
504261 11/18/1998 |
REGISTERED | Tempress, Inc.1 | |||||
Canada
|
THE HAPPY OZONE MOLECULE AND DESIGN | 0836272 02/11/1997 |
495502 05/29/1998 |
REGISTERED | Tempress, Inc. | |||||
Canada
|
T-RIM | 0824711 09/30/1996 |
504116 11/16/1998 |
REGISTERED | Tempress, Inc. | |||||
Canada
|
T-SKIN | 0824707 09/30/1996 |
489645 02/10/1998 |
REGISTERED | Tempress, Inc. | |||||
Canada
|
VCR | 0828758 11/13/1996 |
520283 12/06/1999 |
REGISTERED | Tempress, Inc. |
COMMERCIAL VEHICLE GROUP, INC.
Trade Name | Goods | Owner | ||
BOOT SAVER
|
Rubber and plastics hose and belting | Commercial Vehicle Group Inc. | ||
CVG
|
Motor vehicle parts and accessories | Commercial Vehicle Group Inc. | ||
FISH-ON
|
Automotive stampings | Commercial Vehicle Group Inc. | ||
MAYFLOWER VEHICLE
SYSTEMS
|
Motor vehicle parts and accessories | Commercial Vehicle Group Inc. | ||
MOTO MIRROR
|
Motor vehicle parts and accessories | Commercial Vehicle Group Inc. | ||
MWC
|
Motor vehicle parts and accessories | Commercial Vehicle Group Inc. | ||
O3
|
Electric housewares and fans | Commercial Vehicle Group Inc. | ||
O3 THE HAPPY OZONE
MOLECULE
|
Sporting and athletic goods | Commercial Vehicle Group Inc. |
1 | Tempress, Inc. merged into Trim Systems Operating Corp., surviving as Trim Systems Operating Corp., on September 15, 2004. |
Trade Name | Goods | Owner | ||
ROADWATCH
|
Motor vehicle parts and accessories | Commercial Vehicle Group Inc. | ||
T-RIM
|
Automotive stampings | Commercial Vehicle Group Inc. | ||
TACKLE HATCH
|
Apparel and accessories | Commercial Vehicle Group Inc. | ||
CLEARVIEW
|
Motor vehicle parts and accessories | Commercial Vehicle Group Inc. | ||
KEYFREE
|
Communications equipment | Commercial Vehicle Group Inc. |
SCHEDULE 9.20
POST CLOSING COVENANTS
1. Company shall use commercially reasonable efforts to obtain from each of the landlords listed in
Section C (Real Property/Leaseholds) of that certain Collateral Certificate delivered to Collateral
Agent of even date herewith an executed Disclaimer and Consent in a form substantially similar to
the form attached hereto as Exhibit A, and deliver same to Collateral Agent within forty-five (45)
days from the date hereof.
2. Within thirty Business Days from the date hereof, Company (1) shall deliver (or cause to be
delivered) an aircraft security agreement in form and substance reasonably satisfactory to
Collateral Agent covering one Cessna model 550 aircraft with serial number 550-0279 and Federal
Aviation Administration registration number N550KA together with two Xxxxx & Xxxxxxx model JT15D-4
engines identified by serial numbers PCE-70767 (left) and PCE-70472 (right) and (2) shall deliver
(or cause to be delivered) all other documents reasonably required to ensure that such aircraft
security agreement may be filed with the Federal Aviation Administration and the International
Registry (as such term is defined in the Cape Town Treaty).
As used herein, Cape Town Treaty means collectively the Convention on International Interests
in Mobile Equipment signed in Cape Town, South Africa on November 16, 2001, as ratified by the
United States and the Protocol to the Convention on International Interests in Mobile Equipment on
Matters Specific to Aircraft Equipment signed in Cape Town, South Africa on November 16, 2001, as
ratified by the United States, together with the Regulations for the International Registry and the
International Registry Procedures, and all other rules, amendments, supplements, and revisions
thereto.
3. Within six Business Days from the date hereof, Company shall deliver (or cause to be delivered)
a lender’s loss payable endorsement in respect of the property insurance carried by Borrower
pursuant to Section 3.5(b) hereof.