Block 7932 Inc – INTERCREDITOR AGREEMENT (April 19th, 2005)
THIS INTERCREDITOR ("Intercreditor Agreement") dated as of April 22, 2004 is by and among CONGRESS FINANCIAL CORPORATION, a Delaware corporation, as Revolving Loan Agent (as defined below) for the Revolving Loan Lenders (as defined below) and THE BANK OF NEW YORK, a New York banking corporation, as collateral agent for the Trustee (as defined below) and the Noteholders (as defined below) (in such capacity, together with its successors and assigns, if any, in such capacity, the "Noteholder Collateral Agent"). Revolving Loan Agent and Noteholder Collateral Agent are sometimes individually referred to herein as a "Creditor" and collectively as "Creditors."
Block 7932 Inc – SECURITY AGREEMENT (April 19th, 2005)
This SECURITY AGREEMENT, dated as of April 22, 2004 (as amended, supplemented, amended and restated or otherwise modified from time to time, this "Agreement"), is made by ATLANTIC EXPRESS TRANSPORTATION CORP., a New York corporation (the "Issuer") and each Subsidiary (such capitalized term and other terms used in this Agreement to have the meanings set forth in Section 1) of the Issuer from time to time party to this Security Agreement (the "Subsidiary Guarantors" and, together with the Issuer, the "Debtors"), in favor of THE BANK OF NEW YORK, a New York banking corporation, in its capacity as collateral agent (together with any successor(s) thereto in such capacity, the "Collateral Agent") for the benefit of the Trustee and the Noteholders (the Collateral Agent, the Trustee and the Noteholders are hereinafter referred to as the "Secured Parties").