CHASE Credit AgreementCredit Agreement • September 28th, 2007 • Heelys, Inc. • Footwear, (no rubber) • Texas
This agreement dated as of September 19, 2007 between JPMorgan Chase Bank, NA. (together with its successors and assigns, the “Bank”) whose address is 1717 Main Street, Dallas, TX 75201, and Heeling Sports Limited (whether one or more, and if more than one, individually and collectively, the “Borrower’), whose address is 3200 Belmeade Drive, Suite 100, Carrollton, TX 75006.
CHASE Negative Pledge AgreementNegative Pledge Agreement • September 28th, 2007 • Heelys, Inc. • Footwear, (no rubber) • Texas
FOR VALUABLE CONSIDERATION, the undersigned, Heeling Sports Limited (the “Pledgor”), agrees and pledges to JPMorgan Chase Bank, N.A., whose address is 1717 Main Street, Dallas, TX 75201 (the “Bank”), its successors and assigns, that from the date of this agreement until the “Liabilities” are paid in full, the Pledgor will not, without the express written consent of the Bank, which consent shall be at the sole discretion of the Bank, create or permit to exist any mortgage, deed of trust, lien, assignment, pledge, title retention lien, or other encumbrance or security interest with respect to Accounts Receivables and Inventory (the “Property”), except liens (i) securing indebtedness to the Bank, and (ii) of current taxes not delinquent or as security for taxes being contested in good faith, or in connection with worker’s compensation insurance, unemployment insurance, or of mechanics and material men for sums not due or sums being contested in good faith for which adequate funds have bee
