Exhibit 5 SECURITY AGREEMENT SECURITY AGREEMENT (this "Agreement"), made this 13th day of November, 1996, by and between COMMODORE ENVIRONMENTAL SERVICES, INC., a Delaware corporation having offices at 150 East 58th Street, Suite 3400, New York, New...Security Agreement • November 15th, 1996 • Lanxide Corp • Structural clay products • New York
November 13, 1996 Lanxide Performance Materials, Inc. 1300 Marrows Road P.O. Box 6077 Newark, Delaware 19714-6077 RE: LINE OF CREDIT AGREEMENT Gentlemen: This letter agreement sets forth the terms and conditions under which Commodore Environmental...Lanxide Corp • November 15th, 1996 • Structural clay products • New York
GUARANTYGuaranty • November 15th, 1996 • Lanxide Corp • Structural clay products • New York
November 13, 1996 Lanxide Performance Materials, Inc. 1300 Marrows Road P.O. Box 6077 Newark, DE 19714-6077 Dear Sirs: Reference is made to the Security Agreement dated August 30, 1996 (the "Security Agreement") by and between Commodore Applied...Lanxide Corp • November 15th, 1996 • Structural clay products
Reference is made to the Security Agreement dated August 30, 1996 (the "Security Agreement") by and between Commodore Applied Technologies, Inc. (the "Secured Party") and Lanxide Performance Materials, Inc. (the "Debtor"). Reference is further made to the security agreement to be entered into on or about the date hereof (the "COES Security Agreement") between the Debtor and Commodore Environmental Services, Inc. ("COES"), pursuant to which the Debtor proposes to grant to COES a second priority lien and security interest in the Collateral (as such term is defined in the Security Agreement).
R E C I T A L S:Agreement and Plan of Merger • November 15th, 1996 • Lanxide Corp • Structural clay products • Delaware
