Contract
Exhibit 4.14
Second Amended and restated Patent Security Agreement, dated as of November 23,
2009 (“Patent Security Agreement”), by each of the entities listed on the signature pages hereof
(each a “Grantor” and, collectively, the “Grantors”), in favor of Citicorp USA, Inc. (“Citicorp”),
as collateral agent for the Secured Parties (as defined in the Credit Agreements and Indenture
referred to below) (in such capacity, the “Collateral Agent”).
W i t n e s s e t h:
Whereas, the Company, certain of its subsidiaries, the lenders (the “Multi-Currency
Lenders”) and issuing lenders (the “Issuing Lenders”) party thereto, Citicorp, as administrative
agent for the Multi-Currency Lenders and Issuing Lenders (the “Multi-Currency Administrative
Agent”), and the Collateral Agent, are parties to the Credit Agreement, dated as of July 9, 2004
(as such agreement has been or may be amended, restated, supplemented, renewed or otherwise
modified from time to time, together with any other agreements pursuant to which any such
Indebtedness or any commitments, obligations, costs, expenses, fees, reimbursements, indemnities or
other obligations payable or owing thereunder may be refinanced, restructured, renewed, extended,
increased, refunded or replaced, the “Multi-Currency Credit Agreement”);
Whereas, the Company, the lenders (the “Term Loan Lenders”; together with the
Multi-Currency Lenders and the Issuing Lenders, the “Lenders”) party thereto, Citicorp, as
administrative agent for the Term Loan Lenders (the “Term Loan Administrative Agent”, and together
with the Multi-Currency Administrative Agent, the “Administrative Agents”), the Collateral Agent
(together with the Administrative Agents, the “Agents”), and JPMorgan Chase Bank, N.A., as
syndication agent, are parties to the Term Loan Agreement, dated as of December 20, 2006 (as such
agreement has been or may be amended, restated, supplemented, renewed or otherwise modified from
time to time, together with any other agreements pursuant to which any such Indebtedness or any
commitments, obligations, costs, expenses, fees, reimbursements, indemnities or other obligations
payable or owing thereunder may be refinanced, restructured, renewed, extended, increased, refunded
or replaced, the “Term Loan Agreement”, and together with the Multi-Currency Credit Agreement, the
“Credit Agreements”);
Whereas, the Company, certain of its subsidiaries and Revlon, Inc., as guarantors,
and U.S. Bank National Association, as trustee (the “Noteholder Representative”), are parties to
the Indenture, dated as of November 23, 2009 (as such agreement may be amended, restated,
supplemented, renewed or otherwise modified from time to time, together with any other agreements
pursuant to which any such Indebtedness or any commitments, obligations, costs, expenses, fees,
reimbursements, indemnities or other obligations payable or owing thereunder may be refinanced,
restructured, renewed, extended, increased, refunded or replaced, the “Indenture”);
Whereas, all the Grantors are party to a Second Amended and Restated Pledge and
Security Agreement, dated as of November 23, 2009, in favor of the Collateral Agent (as the same
may be amended, restated, supplemented or otherwise modified from time to time, the “Security
Agreement”) pursuant to which the Grantors are required to execute and deliver this Patent
Security Agreement;
Now, Therefore, in consideration of the premises and to induce the Lenders, the
Administrative Agents and the Collateral Agent to enter into the Credit Agreements and to induce
the Noteholder Representative to enter into the Indenture, each Grantor hereby agrees with the
Collateral Agent as follows:
1
Section 1. Defined Terms
Unless otherwise defined herein, terms defined in the Credit Agreements or in the Security
Agreement and used herein have the meaning given to them in the Credit Agreements or the Security
Agreement.
Section 2. Grant of Security Interest in Patent Collateral
Each Grantor, as collateral security for the full, prompt and complete payment and performance
when due (whether at stated maturity, by acceleration or otherwise) of the Secured Obligations (as
defined in the Security Agreement) of such Grantor, hereby mortgages, pledges and hypothecates to
the Collateral Agent for the benefit of the Secured Parties (as defined in the Security Agreement),
and grants to the Collateral Agent for the benefit of the Secured Parties a lien on and security
interest in, all of its right, title and interest in, to and under the following Collateral of such
Grantor (the “Patent Collateral”):
(a) all of its Patents and Patent Licenses to which it is a party, including, without
limitation, those referred to on Schedule I hereto;
(b) all reissues, continuations or continuations-in-part of the foregoing; and
(c) all Proceeds of the foregoing, including, without limitation, any claim by Grantor against
third parties for past, present or future infringement of any Patent or any Patent licensed under
any Patent License.
Section 3. Security Agreement
The security interests granted pursuant to this Patent Security Agreement is granted in
conjunction with the security interest granted to the Collateral Agent pursuant to the Security
Agreement and each Grantor hereby acknowledges and affirms that the rights and remedies of the
Collateral Agent with respect to the security interest in the Patent 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.
[Signature Pages Follow]
2
In witness whereof, each Grantor has caused this Patent Security Agreement to be
executed and delivered by its duly authorized offer as of the date first set forth above.
| REVLON CONSUMER PRODUCTS CORPORATION, as Grantor |
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| By: | /s/ Xxxxxxx X. Xxxxxxx | |||
| Name: | Xxxxxxx X. Xxxxxxx | |||
| Title: | Senior Vice President, Deputy General Counsel and Secretary | |||
| Accepted and Agreed as of the date first above written: Citicorp USA, Inc., as Collateral Agent |
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| By: | /s/ Xxxxxx X. Xxxxxxxxxxx | |||
| Name: | Xxxxxx X. Xxxxxxxxxxx | |||
| Title: | Director | |||
