ASSET PURCHASE AGREEMENT among VELOCITY EXPRESS CORPORATION, VELOCITY EXPRESS, INC., VELOCITY EXPRESS LEASING, INC., CD&L, INC., Certain other direct and indirect Subsidiaries of Velocity Express Corporation and COMVEST VELOCITY ACQUISITION I, LLC...Asset Purchase Agreement • September 25th, 2009 • Velocity Express Corp • Air courier services • New York
ASSET PURCHASE AGREEMENT (this “Agreement”), dated as of September 24, 2009, among Velocity Express Corporation, a Delaware corporation (“Parent”), Velocity Express, Inc., a Delaware corporation (“VEI”), Velocity Express Leasing, Inc., a Delaware corporation (“VEL”), CD&L, Inc., a Delaware corporation (“CD&L”), VXP Mid-West, Inc., a Delaware corporation (“VXPM”), VXP Leasing Mid-West, Inc., a Delaware corporation (“VXPLM”), Clayton/National Courier Systems, Inc., a Missouri corporation (“CNCS”), Click Messenger Service, Inc., a New Jersey corporation (“Click”), Olympic Courier Systems, Inc., a New York corporation (“Olympic”), Securities Courier Corporation, a New York corporation (“SCS”), Silver Star Express, Inc., a Florida corporation (“Silver Star”), Velocity Systems Franchising Corporation, a Michigan corporation, and U-Ship International, Ltd., a Wisconsin corporation (together with VEI, VEL, CD&L, VXPM, VXPLM, CNCS, Click, Olympic, SCS and Silver Star, the “Subsidiaries”; the Su
COMVEST AND VELOCITY EXPRESS REACH AGREEMENT ON SIGNIFICANT FINANCIAL RESTRUCTURINGRestructuring Agreement • September 25th, 2009 • Velocity Express Corp • Air courier services
WESTPORT, Conn. September 24, 2009 -- Velocity Express Corporation (NASDAQ:VEXP) (“Velocity” or “the Company”), the nation's largest provider of time definite regional delivery solutions, announced that it has reached an agreement with a subsidiary (“ComVest”) of ComVest Investment Partners III, L.P., a leading private investment firm with a proven track record in the transportation industry. Under the agreement, ComVest will begin a process to become the Company’s new majority owner and significantly deleverage the Company through an exchange of debt for equity in Velocity.
AMENDMENT NO. 1 TO LOAN AND SECURITY AGREEMENTLoan and Security Agreement • September 25th, 2009 • Velocity Express Corp • Air courier services • New York
THIS AMENDMENT NO. 1 TO LOAN AND SECURITY AGREEMENT (this "Amendment") is entered into as of May [__], 2009, among BURDALE CAPITAL FINANCE, INC., a Delaware corporation, as administrative agent (including any successor administrative agent, "Agent") for the lenders from time to time party to the Loan Agreement defined below ("Lenders"), the Lenders signatory hereto, VELOCITY EXPRESS CORPORATION, a corporation organized under the laws of the State of Delaware ("VEC"), VELOCITY EXPRESS, INC., a corporation organized under the laws of the State of Delaware ("VEI"), VELOCITY EXPRESS LEASING, INC., a corporation organized under the laws of the State of Delaware ("VEL"; and together with VEC and VEI, each a "Borrower" and collectively, the "Borrowers"), VXP MID-WEST, INC., a corporation organized under the laws of the State of Delaware ("VXPM"), VXP LEASING MID-WEST, INC., a corporation organized under the laws of the State of Delaware ("VXPL"), CD&L, INC., a corporation organized under the
POSTPETITION AGREEMENTPostpetition Agreement • September 25th, 2009 • Velocity Express Corp • Air courier services
This POSTPETITION AGREEMENT (the "Agreement") dated as of September 24, 2009, is by and among Velocity Express Corporation, a Delaware corporation ("VEC"), Velocity Express, Inc., a Delaware corporation ("VEI"), Velocity Express Leasing, Inc., a Delaware corporation ("VELI" and, together with VEC and VEI, the "Borrowers"), VXP Mid-West, Inc., a corporation organized under the laws of the State of Delaware ("VXPM"), VXP Leasing Mid-West, Inc., a corporation organized under the laws of the State of Delaware ("VXPL"), CD&L, Inc., a corporation organized under the laws of the State of Delaware ("CDL"), Clayton/National Courier Systems, Inc., a corporation organized under the laws of the State of Missouri ("CNCS"), Click Messenger Service, Inc., a corporation organized under the laws of the State of New Jersey ("CMS"), Olympic Courier Systems, Inc., a corporation organized under the laws of the State of New York ("OCS"), Securities Courier Corporation, a corporation organized under the laws
