EXHIBIT 10.38
TRADEMARK SECURITY AGREEMENT
This TRADEMARK SECURITY AGREEMENT (this "Trademark Security Agreement")
is made this 5th day of April, 2007, among Grantors listed on the signature
pages hereof (collectively, jointly and severally, "Grantors" and each
individually "Grantor"), and XXXXX FARGO FOOTHILL, INC., in its capacity as
Agent for the Lender Group (together with its successors and assigns in such
capacity, "Agent").
WITNESSETH:
WHEREAS, pursuant to that certain Credit Agreement dated of April 5, 2007
(as amended, restated, amended and restated, supplemented or otherwise modified
from time to time, including all exhibits and schedules thereto, the "Credit
Agreement") among XX Xxxx'x Corporation, a Delaware corporation ("Parent"), each
of Parent's Subsidiaries identified on the signature pages thereof (Parent and
such Subsidiaries, "Borrowers"), the lenders party thereto as "Lenders"
("Lenders"), and Agent, the Lender Group agreed to make certain financial
accommodations available to Borrowers from time to time pursuant to the terms
and conditions thereof;
WHEREAS, the members of the Lender Group are willing to make the financial
accommodations to Borrowers as provided for in the Credit Agreement, but only
upon the condition, among others, that Grantors shall have executed and
delivered to Agent, for the benefit of Lender Group, that certain Security
Agreement dated as of April 5, 2007 (including all annexes, exhibits or
schedules thereto, as from time to time amended, restated, amended and restated,
supplemented or otherwise modified, the "Security Agreement"); and
WHEREAS, pursuant to the Security Agreement, Grantors are required to
execute and deliver to Agent, for the benefit of Lender Group, this Trademark
Security Agreement.
NOW, THEREFORE, in consideration of the premises and mutual covenants
herein contained and for other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, each Grantor hereby agrees as
follows:
1. DEFINED TERMS. All capitalized terms used but not otherwise defined
herein have the meanings given to them in the Security Agreement and/or the
Credit Agreement.
2. GRANT OF SECURITY INTEREST IN TRADEMARK COLLATERAL. Each Grantor hereby
grants to Agent, for the benefit of the Lender Group, a continuing first
priority security interest (subject to Permitted Liens) in all of such Grantor's
right, title and interest in, to and under the following, whether presently
existing or hereafter created or acquired (collectively, the "Trademark
Collateral"):
(a) all of its Trademarks and rights in and to Trademark Intellectual
Property Licenses to which it is a party including those referred to on Schedule
I hereto;
(b) all extensions, modifications and renewals of the foregoing;
(c) all goodwill of the business connected with the use of, and
symbolized by, each Trademark; and
(d) all products and proceeds of the foregoing, including, without
limitation, any claim by such Grantor against third parties for past, present or
future (i) infringement or dilution of any Trademark, or (ii) injury to the
goodwill associated with any Trademark.
3. SECURITY AGREEMENT. The security interests granted pursuant to this
Trademark Security Agreement are granted in conjunction with the security
interests granted to Agent, for the benefit of the Lender Group, pursuant to the
Security Agreement. Each Grantor hereby acknowledges and affirms that the rights
and remedies of Agent with respect to the security interest in the Trademark
Collateral made and granted hereby are more fully set forth in the Security
Agreement, the terms and provisions of which are incorporated by reference
herein as if fully set forth herein.
4. AUTHORIZATION TO SUPPLEMENT. Grantors hereby authorize Agent unilaterally to
modify this Agreement by amending Schedule I to include any trademarks,
registrations, or applications therefor (including, without limitation,
extensions or renewals) which become part of the Trademark Collateral under the
Security Agreement. Notwithstanding the foregoing, no failure to so modify this
Trademark Security Agreement or amend Schedule I shall in any way affect,
invalidate or detract from Agent's continuing security interest in all
Collateral, whether or not listed on Schedule I.
5. COUNTERPARTS. This Trademark Security Agreement may be executed in any number
of counterparts, each of which shall be deemed to be an original, but all such
separate counterparts shall together constitute but one and the same instrument.
Any signatures delivered by a party by facsimile transmission or by e-mail
transmission shall be deemed an original signature hereto.
[signature pages follow]
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IN WITNESS WHEREOF, each Grantor has caused this Trademark Security
Agreement to be executed and delivered by its duly authorized officer as of the
date first set forth above.
GRANTORS: XX XXXX'X INCORPORATED,
a Pennsylvania corporation, as a Grantor
By: /s/ Xxxxxx X. Xxxxxxx
------------------------------------
Name: Xxxxxx X. Xxxxxxx
----------------------------------
Title: Vice President, CFO and
Corporate Secretary
---------------------------------
PLANT ENGINEERING CONSULTANTS, LLC,
a Tennessee limited liability company,
as a Grantor
By: /s/ Xxxxxx X. Xxxxxxx
------------------------------------
Name: Xxxxxx X. Xxxxxxx
----------------------------------
Title: Treasurer and Secretary
---------------------------------
XX XXXX'X ENTERPRISES, INC.,
a Delaware corporation, as a Grantor
By: /s/ Xxxxxx X. Xxxxxxx
------------------------------------
Name: Xxxxxx X. Xxxxxxx
----------------------------------
Title: President and Treasurer
---------------------------------
XX XXXX'X CORPORATION,
a Delaware corporation, as a Grantor
By: /s/ Xxxxxx X. Xxxxxxx
------------------------------------
Name: Xxxxxx X. Xxxxxxx
----------------------------------
Title: Vice President, CFO and
Corporate Secretary
---------------------------------
[SIGNATURE PAGE OF WFF - XX XXXX'X TRADEMARK SECURITY AGREEMENT]
ACCEPTED AND AGREED TO
AS OF THE DATE FIRST ABOVE WRITTEN:
XXXXX FARGO FOOTHILL, INC.,
a California corporation, as Agent
By: /s/ Xxxxxxx X. Xxxx, Xx.
------------------------------------
Name: Xxxxxxx X. Xxxx, Xx.
----------------------------------
Title: VP
---------------------------------
[SIGNATURE PAGE OF WFF - XX XXXX'X TRADEMARK SECURITY AGREEMENT]
Rider 10.38
SCHEDULE I TO TRADEMARK SECURITY AGREEMENT
TRADEMARK REGISTRATIONS/APPLICATIONS
SCHEDULE I
to
TRADEMARK SECURITY AGREEMENT
TRADEMARK REGISTRATIONS/APPLICATIONS
APPLICATION/
GRANTOR COUNTRY XXXX REGISTRATION NO. APP/REG DATE
------- ------- ---- ---------------- ------------
XX Xxxx'x United States ALL-PRO 75/290,731/ 5/12/1997/
Enterprises, Inc. 2,165,737 0/00/0000
XX Xxxx'x Xxxxxx Xxxxxx BRAKETRON 73/254,657/ 3/19/1980/
Enterprises, Inc. 1,164,393 0/00/0000
XX Xxxx'x Xxxxxx Xxxxxx DECK 73/581,633/ 2/7/1986/
Enterprises, Inc. (stylized) 1,409,209 9/16/1986
XX Xxxx'x United States DISC-O-TORQUE 72/285,224/ 11/20/1967/
Enterprises, Inc. 859,264 10/29/1968
XX Xxxx'x United States DURA-FLEX 73/158,649/ 2/13/1978/
Enterprises, Inc. 1,116,828 0/00/0000
XX Xxxx'x Xxxxxx Xxxxxx E-FLOW 75/280,015/ 4/23/1997/
Enterprises, Inc. 2,169,361 0/00/0000
XX Xxxx'x Xxxxxx Xxxxxx E-trAC (Stylized) 73/491,494/ 7/24/1984/
Enterprises, Inc. 1,333,061 0/00/0000
XX Xxxx'x Xxxxxx Xxxxxx E-TROL+PLUS 75/273,178/ 4/11/1997/
Enterprises, Inc. 2,156,683 0/00/0000
XX Xxxx'x Xxxxxx Xxxxxx FIRST IN 73/526,310/ 3/11/1985/
Enterprises, Inc. COUPLINGS 1,361,466 0/00/0000
XX Xxxx'x Xxxxxx Xxxxxx FORM-FLEX 75/273,175/ 4/11/1997/
Enterprises, Inc. 2,152,362 0/00/0000
XX Xxxx'x Xxxxxx Xxxxxx IMD 75/272,935/ 4/11/1997/
Enterprises, Inc. 2,261,432 7/13/1999
APPLICATION/
GRANTOR COUNTRY XXXX REGISTRATION NO. APP/REG DATE
------- ------- ---- ---------------- ------------
XX Xxxx'x United States NLS 75/273,181/ 4/11/1997/
Enterprises, Inc. 2,152,366 0/00/0000
XX Xxxx'x Xxxxxx Xxxxxx PDA-TRAC 78/329,999 11/19/2003/
Enterprises, Inc. 2,986,366 0/00/0000
XX Xxxx'x Xxxxxx Xxxxxx PETRO-TRAC 78/052,072/ 3/8/2001/
Enterprises, Inc. 2,641,082 00/00/0000
XX Xxxx'x Xxxxxx Xxxxxx XXXXX 75/251,697/ 2/28/1997/
Enterprises, Inc. 2,191,918 0/00/0000
XX Xxxx'x Xxxxxx Xxxxxx QT POWER CHAIN 76/403,299/ 5/2/2002/
Enterprises, Inc. 2,723,745 0/00/0000
XX Xxxx'x Xxxxxx Xxxxxx ROTO-CAM 72/285,223/ 11/20/1967/
Enterprises, Inc. 859,263 10/29/1968
XX Xxxx'x United States ROTO-CONE 72/015,359/ 9/10/1956/
Enterprises, Inc. 676,279 3/31/1959
XX Xxxx'x United States SPEEDLIGN 78/350,700/ 1/12/2004/
Enterprises, Inc. 2,991,827 0/0/0000
XX Xxxx'x Xxxxxx Xxxxxx S-TRAC 75/272,936/ 4/11/1997/
Enterprises, Inc. 2,257,668 0/00/0000
XX Xxxx'x Xxxxxx Xxxxxx SUPERSTART 74/104,389/ 10/9/1990/
Enterprises, Inc. 1,686,040 0/00/0000
XX Xxxx'x Xxxxxx Xxxxxx SURE GRIP 71/640,418/ 1/6/1953/
Enterprises, Inc. (stylized) 645,415 5/14/1957
XX Xxxx'x United States SURE-FLEX 72/043,720/ 1/9/1958/
Enterprises, Inc. (stylized) 668,649 10/21/1958
XX Xxxx'x United States SURE-GRIP 71/575,508/ 3/15/1949/
Enterprises, Inc. 646,423 0/0/0000
XX Xxxx'x Xxxxxx Xxxxxx SURE-GRIP 73/136,699/ 8/8/1977/
Enterprises, Inc. 1,109,150 00/00/0000
XX Xxxx'x Xxxxxx Xxxxxx TRUETUBE 75/273,177/ 4/11/1997/
Enterprises, Inc. 2,152,364 0/00/0000
XX Xxxx'x Xxxxxx Xxxxxx ULTRACON 72/300,318/ 6/13/1968/
Enterprises, Inc. 862,655 12/31/1968
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APPLICATION/
GRANTOR COUNTRY XXXX REGISTRATION NO. APP/REG DATE
------- ------- ---- ---------------- ------------
XX Xxxx'x United States ULTRACON II 75/273,179/ 4/11/1997/
Enterprises, Inc. 2,150,835 0/00/0000
XX Xxxx'x Xxxxxx Xxxxxx ULTRA-HELIX 75/559,570/ 9/25/1998/
Enterprises, Inc. 2,351,349 0/00/0000
XX Xxxx'x Xxxxxx Xxxxxx ULTRA-V 73/001,734/ 10/9/1973/
Enterprises, Inc. 1,001,969 0/00/0000
XX Xxxx'x Xxxxxx Xxxxxx ULTRA-V 73/003,203/ 10/10/1973/
Enterprises, Inc. 1,001,970 0/00/0000
XX Xxxx'x Xxxxxx Xxxxxx U-TROL 73/104,511/ 10/26/1976/
Enterprises, Inc. 1,070,167 0/00/0000
XX Xxxx'x Xxxxxx Xxxxxx VAR-A-CONE 75/273,180/ 4/11/1997/
Enterprises, Inc. 2,152,365 4/21/1998
XX Xxxx'x United States W XX XXXX'X (and 75/107,136/ 5/20/1996/
Enterprises, Inc. design) 2,059,245 0/0/0000
XX Xxxx'x Xxxxxx Xxxxxx WIN-TRAC 78/306,778/ 9/29/2003/
Enterprises, Inc. 2,961,309 0/0/0000
XX Xxxx'x Xxxxxx Xxxxxx WOOD'S@WORK 76/402,992/ 5/2/2002/
Enterprises, Inc. 2,801,090 12/30/2003
3