MANUFACTURERS AND TRADERS TRUST COMPANY NON-REVOLVING LINE OF CREDIT NOTE AND CREDIT AGREEMENTNon-Revolving Line of Credit Note and Credit Agreement • April 20th, 2010 • Emerging Vision Inc • Retail-retail stores, nec • New York
This Note extends, reduces, modifies, converts to non-revolving and restates a note originally dated as of August 7, 2007 executed by EMERGING VISION, INC. in favor of MANUFACTURERS AND TRADERS TRUST COMPANY (the “Original Note”) in the amount of $6,000,000.00 (the “Original Loan”), which note was thereafter amended by amendments dated November 14, 2008, April 1, 2009 and October , 2009 which, among other things, reduced the Line of Credit to $5,750,000.00, and which Line of Credit amount is hereby further reduced to $4,251,921.13 (the “Line of Credit”). The Line of Credit amount represents the aggregate sum of the current principal balance outstanding of $3,506,854.45 (“Principal Balance” or “Maximum Loan Amount”) and, in addition to the Principal Balance, a Letter of Credit Sublimit of $745,066.68 in existing Letters of Credit (the “L/C Sublimit”). The aggregate amount of the Line of Credit (Principal Balance plus L/C Sublimit) outstanding is $4,251,921.13.
UNITED STATES TRADEMARK COLLATERAL ASSIGNMENT AND SECURITY AGREEMENT EMERGING VISION, INC. and 1725758 ONTARIO INC. d/b/a THE OPTICAL GROUPTrademark Security Agreement • April 20th, 2010 • Emerging Vision Inc • Retail-retail stores, nec • New York
This UNITED STATES TRADEMARK SECURITY AGREEMENT (this “Agreement”) is made as of March 31, 2010, by EMERGING VISION, INC., a New York corporation (“EV”), and 1725758 ONTARIO INC. d/b/a THE OPTICAL GROUP, a corporation formed in Ontario, Canada (“TOG” and EV and TOG are sometimes collectively referred to as the “Assignor”), each having an address at 520 Eighth Avenue, 23rd Floor, New York, New York 10018, to and in favor of MANUFACTURERS AND TRADERS TRUST COMPANY, a banking association, having an office at One M&T Plaza, Buffalo, New York 14240 (the “Secured Party”).
ASSIGNMENT OF RENTS AND SUBLEASES, made as of the 31st day of March, 2010, by EMERGING VISION, INC., a corporation having an address at 520 Eighth Avenue, 23rd Floor, New York, NY 10018 ("EV"), to MANUFACTURERS AND TRADERS TRUST COMPANY, a banking...Assignment of Rents and Subleases • April 20th, 2010 • Emerging Vision Inc • Retail-retail stores, nec
CONTINUING GUARANTYContinuing Guaranty • April 20th, 2010 • Emerging Vision Inc • Retail-retail stores, nec • New York
LETTER OF REAFFIRMATION OF ABSOLUTE ASSIGNMENT OF FRANCHISEE NOTES AND PROCEEDS DUE, ASSIGNMENT OF RENTS AND SUBLEASES, PLEDGE AGREEMENT, AND UNITED STATES TRADEMARK COLLATERAL ASSIGNMENT AND SECURITY AGREEMENTLetter of Reaffirmation • April 20th, 2010 • Emerging Vision Inc • Retail-retail stores, nec
Re: ABSOLUTE ASSIGNMENT OF FRANCHISEE NOTES AND PROCEEDS DUE (“Assignment of Franchisee Notes”), ASSIGNMENT OF RENTS AND SUBLEASES (“Assignment of Rents”), PLEDGE AGREEMENT (“Pledge Agreement”), AND UNITED STATES TRADEMARK COLLATERAL ASSIGNMENT AND SECURITY AGREEMENT (“Assignment of Trademarks”) each dated as of August 7, 2007 (collectively, the “Security Documents”), executed and delivered by EMERGING VISION, INC. (“Borrower”) to MANUFACTURERS AND TRADERS TRUST COMPANY (the “Bank") in connection with loans made to EMERGING VISION, INC. by Manufacturers and Traders Trust Company (collectively, the “Loan”).
LETTER OF REAFFIRMATION OF GENERAL SECURITY AGREEMENTGeneral Security Agreement • April 20th, 2010 • Emerging Vision Inc • Retail-retail stores, nec
Re: REAFFIRMATION of General Security Agreements (collectively, the "Security Agreement") made by EMERGING VISION, INC., OG ACQUISITION, INC., COMBINE BUYING GROUP, INC. AND 1725758 ONTARIO INC. D/B/A THE OPTICAL GROUP to MANUFACTURERS AND TRADERS TRUST COMPANY (the “Bank") dated as of August 7, 2007 in connection with loans made to EMERGING VISION, INC. (“Borrower”) by Manufacturers and Traders Trust Company (collectively, the “Loan”).
As of March 31, 2010 Emerging Vision, Inc.Revolving Line of Credit Amendment • April 20th, 2010 • Emerging Vision Inc • Retail-retail stores, nec
