COLLATERAL ASSIGNMENT OF RECEIVABLESCollateral Assignment of Receivables • November 22nd, 2016 • Nac Global Technologies, Inc. • General industrial machinery & equipment • New York
THIS COLLATERAL ASSIGNMENT OF RECEIVABLES, dated as of November 16, 2016 (as the same may be from time to time further modified, amended, restated, amended and restated or supplemented, this “Agreement”), is by and among NAC Global Technologies, Inc., a Nevada corporation (the “Company”), the Company’s subsidiary NAC Drive Systems, Inc., a Delaware corporation (“NACD.”), Bellelli USA LLC, a Texas limited liability company, a subsidiary of BE North America, Corp. and an indirect subsidiary of the Company, BE North America, Corp., a Nevada corporation, a majority owned subsidiary of BES and an indirect subsidiary of the Company (“BEN” and together with NACD, BUSA and the Company the “Assignor”), and the holders of the 1,578,948 shares (the “NACD Common Shares”) of NACD’s common stock, par value $0.01 per share, signatory hereto, as secured parties, their endorsees, transferees and assigns (collectively, the “Secured Parties”), and , as a secured party (the “Assignee”).
