SECURITY AGREEMENTSecurity Agreement • March 26th, 2008 • Wellman Inc • Plastic material, synth resin/rubber, cellulos (no glass)
This SECURITY AGREEMENT, dated as of February 26, 2008 (as the same may be amended, restated, supplemented or otherwise modified from time to time, this “Security Agreement”), made by each of the undersigned companies, as debtor and debtor in possession (each, a “Grantor” and collectively, the “Grantors”) and DEUTSCHE BANK TRUST COMPANY AMERICAS, in its capacity as collateral agent (the “Collateral Agent”) for its benefit and the benefit of (i) the Lenders and the Administrative Agent under the Credit Agreement hereinafter referred to (collectively, the “Bank Creditors”) and (ii) the Lenders and/or Affiliates thereof that are holders of the Approved Secured Derivative Transaction Liabilities (as defined in the Credit Agreement hereinafter referred to) as of the date hereof (even if the respective Lender subsequently ceases to be a Lender under the Credit Agreement for any reason) so long as any such Lender or Affiliate continues to hold any Approved Secured Derivative Transaction Liabi
GRANT OF SECURITY INTEREST IN UNITED STATES TRADEMARKS AND PATENTSWellman Inc • March 26th, 2008 • Plastic material, synth resin/rubber, cellulos (no glass)
THIS GRANT is made to secure the full and prompt performance and payment of all the Obligations of the Grantors, as such term is defined in the Credit Agreement among the Grantors, the other borrowers party thereto, the other lenders party thereto and the Grantee, dated as of February 26, 2008 (as amended, restated, supplemented or otherwise modified from time to time). Upon the occurrence of the Termination Date (as defined in the Security Agreement), the Grantee shall, upon such satisfaction, execute, acknowledge, and deliver to the Grantors an instrument in writing releasing the security interest in and re-assigning the Marks and Patents acquired under this Grant to the Grantors.
GRANT OF SECURITY INTEREST IN UNITED STATES COPYRIGHTSWellman Inc • March 26th, 2008 • Plastic material, synth resin/rubber, cellulos (no glass)
WHEREAS, WELLMAN, Inc., MRF, Inc. and Fiber Industries, Inc., each Delaware corporations having their chief executive offices at 1041 521 Corporate Center Drive, Fort Mill, South Carolina (the “Grantors”), as debtors and debtors in possession, are the owners of all right, title and interest in and to the United States copyrights and associated United States copyright registrations and applications for registration set forth in Schedule A attached hereto;
