SECURITY AGREEMENTSecurity Agreement • August 7th, 2013 • XCel Brands, Inc. • Patent owners & lessors • New York
SECURITY AGREEMENT, dated as of July 31, 2013 between IM BRANDS, LLC, a Delaware limited liability company (the “Borrower”) with its principal office located at 475 Tenth Avenue, New York, New York 10018, and Bank Hapoalim B.M., an Israeli banking corporation licensed to do business in the State of New York (the “Bank”) with its New York office located at 1177 Avenue of the Americas, New York, NY 10036.
MEMBERSHIP PLEDGE AGREEMENTMembership Pledge Agreement • August 7th, 2013 • XCel Brands, Inc. • Patent owners & lessors • New York
THIS MEMBERSHIP PLEDGE AGREEMENT (this “Pledge Agreement”), dated as of July 31, 2013 is made by and between Xcel Brands, Inc., a Delaware corporation (“Pledgor”), and Bank Hapoalim B.M. (“Lender”).
SUBORDINATION AGREEMENTSubordination Agreement • August 7th, 2013 • XCel Brands, Inc. • Patent owners & lessors • New York
THIS SUBORDINATION AGREEMENT is dated as of July 31, 2013 (this “Agreement”), among BANK HAPOALIM B.M. (the “Lender”), IM READY-MADE, LLC, a New York limited liability company (the “Holder”), XCEL BRANDS, INC., a Delaware corporation (“XCel”) and IM BRANDS, LLC, a Delaware limited liability company (“IMB” and collectively with XCel, the “Buyers”).
INTELLECTUAL PROPERTY SECURITY AGREEMENTIntellectual Property Security Agreement • August 7th, 2013 • XCel Brands, Inc. • Patent owners & lessors • New York
THIS INTELLECTUAL PROPERTY SECURITY AGREEMENT is made as of July 31, 2013 (this “IP Security Agreement”), by IM BRANDS, LLC, a New York limited liability company (“Grantor”), in favor of Bank Hapoalim B.M. (“Bank”).
