EXHIBIT 10.44
TRADEMARK SECURITY AGREEMENT
This TRADEMARK SECURITY AGREEMENT (this "Trademark Security Agreement") is
made this 5th day of April, 2007, among the Grantors listed on the signature
pages hereof (collectively, jointly and severally, "Grantors" and each
individually "Grantor"), and THE BANK OF NEW YORK TRUST COMPANY, N.A., in its
capacity as Collateral Agent for itself, the Holders and the Trustee (together
with its successors and assigns in such capacity, "Collateral Agent").
W I T N E S S E T H:
WHEREAS, pursuant to that certain Indenture dated of November 30, 2004 (as
amended, restated, amended and restated, supplemented or otherwise modified from
time to time, including all exhibits and schedules thereto, the "Indenture")
among Altra Industrial Motion, Inc., a Delaware corporation ("Company"), each of
the Guarantors named therein ("Guarantors"), The Bank of New York Trust Company,
N.A., as Trustee (in such capacity, the "Trustee"), and Collateral Agent,
Company has issued to the Holders its 9% Senior Secured Notes Due 2011, and may
issue from time to time additional notes in connection with the provisions of
the Indenture (as the same may be amended and restated, supplemented or
otherwise modified from time to time, collectively, the "Notes");
WHEREAS, as a condition precedent to the initial purchase by the Holders
of the Notes, Company and Guarantors (each in their respective capacity as a
Grantor) executed and delivered to Collateral Agent, for the benefit of the
Holders, Trustee and Collateral Agent, that certain Security Agreement dated as
of November 30, 2004 (including all annexes, exhibits or schedules thereto, as
from time to time amended and restated, supplemented or otherwise modified, the
"Security Agreement")
WHEREAS, as a condition precedent to the purchase by the Holders of
additional Notes in the aggregate principal amount of $105,000,000, the Grantors
shall have executed and delivered to Collateral Agent, for the benefit of the
Holders, Trustee and Collateral Agent, that certain Supplement No. 1 to Security
Agreement dated as of the date hereof (including all annexes, exhibits or
schedules thereto, the "Supplement"); and
WHEREAS, pursuant to the Security Agreement, as modified by the
Supplement, the Grantors are required to execute and deliver to Collateral
Agent, for the benefit of the Trustee, the Collateral Agent and the Holders,
this Trademark Security Agreement.
NOW, THEREFORE, in consideration of the premises and mutual covenants
herein contained and for other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, each Grantor hereby agrees as
follows:
1. DEFINED TERMS. All capitalized terms used but not otherwise defined
herein have the meanings given to them in the Security Agreement and/or the
Indenture.
2. GRANT OF SECURITY INTEREST IN TRADEMARK COLLATERAL. Each Grantor hereby
grants to Collateral Agent, for the benefit of the Trustee and the Holders, a
continuing first priority security interest (subject to Permitted Liens) in all
of such Grantor's right, title and interest in, to and under the following,
whether presently existing or hereafter created or acquired (collectively, the
"Trademark Collateral"):
(a) all of its Trademarks and rights in and to Trademark
Intellectual Property Licenses to which it is a party including those referred
to on Schedule I hereto;
(b) all extensions, modifications and renewals of the foregoing;
(c) all goodwill of the business connected with the use of, and
symbolized by, each Trademark; and
(d) all products and proceeds of the foregoing, including, without
limitation, any claim by such Grantor against third parties for past, present or
future (i) infringement or dilution of any Trademark, or (ii) injury to the
goodwill associated with any Trademark.
3. SECURITY AGREEMENT. The security interests granted pursuant to this
Trademark Security Agreement are granted in conjunction with the security
interests granted to Collateral Agent, for the benefit of the Trustee, the
Collateral Agent and the Holders, pursuant to the Security Agreement. Each
Grantor hereby acknowledges and affirms that the rights and remedies of
Collateral Agent with respect to the security interest in the Trademark
Collateral made and granted hereby are more fully set forth in the Security
Agreement, the terms and provisions of which are incorporated by reference
herein as if fully set forth herein.
4. AUTHORIZATION TO SUPPLEMENT. Grantors hereby authorize Collateral Agent
unilaterally to modify this Agreement by amending Schedule I to include any
trademarks, registrations, or applications therefor (including, without
limitation, extensions or renewals) which become part of the Trademark
Collateral under the Security Agreement. Notwithstanding the foregoing, no
failure to so modify this Trademark Security Agreement or amend Schedule I shall
in any way affect, invalidate or detract from Agent's continuing security
interest in all Collateral, whether or not listed on Schedule I.
5. COUNTERPARTS. This Trademark Security Agreement may be executed in any
number of counterparts, each of which shall be deemed to be an original, but all
such separate counterparts shall together constitute but one and the same
instrument. Any signatures delivered by a party by facsimile transmission or by
e-mail transmission shall be deemed an original signature hereto.
[signature pages follow]
2
IN WITNESS WHEREOF, each Grantor has caused this Trademark Security
Agreement to be executed and delivered by its duly authorized officer as of the
date first set forth above.
GRANTORS:
XX XXXX'X INCORPORATED,
a Pennsylvania corporation, as a Grantor
By: /s/ Xxxxxxx X. Xxxxx, Xx.
--------------------------------
Name: Xxxxxxx X. Xxxxx, Xx.
Title: President, CEO and Director
PLANT ENGINEERING CONSULTANTS, LLC,
a Tennessee limited liability company, as
a Grantor
By: /s/ Xxxxxxx X. Xxxxx, Xx.
--------------------------------
Name: Xxxxxxx X. Xxxxx, Xx.
Title: President
XX XXXX'X ENTERPRISES, INC.,
a Delaware corporation, as a Grantor
By: /s/ Xxxxxx X. Xxxxxxx
--------------------------------
Name: Xxxxxx X. Xxxxxxx
Title: President and Treasurer
XX XXXX'X CORPORATION,
a Delaware corporation, as a Grantor
By: /s/ Xxxxxxx X. Xxxxx, Xx.
--------------------------------
Name: Xxxxxxx X. Xxxxx, Xx.
Title: President, CEO and Director
COLLATERAL AGENT: THE BANK OF NEW YORK TRUST
COMPANY, N.A.,
as Collateral Agent
By: /s/ Xxxxxx Xxxxx
-----------------------------------
Name: Xxxxxx Xxxxx
-----------------------------------
Title: Vice President
-----------------------------------
SIGNATURE PAGE OF TRADEMARK SECURITY AGREEMENT
SCHEDULE I
to
TRADEMARK SECURITY AGREEMENT
TRADEMARK REGISTRATIONS/APPLICATIONS
APPLICATION/
GRANTOR REGISTRATION
COUNTRY XXXX NO. APP/REG DATE
--------------------------------------------------------------------------------
XX Xxxx'x United States ALL-PRO 75/290,731/ 5/12/1997/
Enterprises, 2,165,737 6/16/1998
Inc.
--------------------------------------------------------------------------------
XX Xxxx'x United States BRAKETRON 73/254,657/ 3/19/1980/
Enterprises, 1,164,393 8/11/1981
Inc.
--------------------------------------------------------------------------------
XX Xxxx'x United States DECK 73/581,633/ 2/7/1986/
Enterprises, 1,409,209 9/16/1986
Inc. (stylized)
--------------------------------------------------------------------------------
XX Xxxx'x United States DISC-O-TORQUE 72/285,224/ 11/20/1967/
Enterprises, 859,264 10/29/1968
Inc.
--------------------------------------------------------------------------------
XX Xxxx'x United States DURA-FLEX 73/158,649/ 2/13/1978/
Enterprises, 1,116,828 4/24/1979
Inc.
--------------------------------------------------------------------------------
XX Xxxx'x United States E-FLOW 75/280,015/ 4/23/1997/
Enterprises, 2,169,361 6/30/1998
Inc.
--------------------------------------------------------------------------------
XX Xxxx'x United States E-trAC 73/491,494/ 7/24/1984/
Enterprises, (Stylized) 1,333,061 4/30/1985
Inc.
--------------------------------------------------------------------------------
XX Xxxx'x United States E-TROL+PLUS 75/273,178/ 4/11/1997/
Enterprises, 2,156,683 5/12/1998
Inc.
--------------------------------------------------------------------------------
i
APPLICATION/
GRANTOR REGISTRATION
COUNTRY XXXX NO. APP/REG DATE
--------------------------------------------------------------------------------
XX Xxxx'x United States FIRST IN 73/526,310/ 3/11/1985/
Enterprises, COUPLINGS 1,361,466 9/24/1985
Inc.
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XX Xxxx'x United States FORM-FLEX 75/273,175/ 4/11/1997/
Enterprises, 2,152,362 4/21/1998
Inc.
--------------------------------------------------------------------------------
XX Xxxx'x United States IMD 75/272,935/ 4/11/1997/
Enterprises, 2,261,432 7/13/1999
Inc.
--------------------------------------------------------------------------------
XX Xxxx'x United States NLS 75/273,181/ 4/11/1997/
Enterprises, 2,152,366 4/21/1998
Inc.
--------------------------------------------------------------------------------
XX Xxxx'x United States PDA-TRAC 78/329,999 11/19/2003/
Enterprises, 2,986,366 8/16/2005
Inc.
--------------------------------------------------------------------------------
XX Xxxx'x United States PETRO-TRAC 78/052,072/ 3/8/2001/
Enterprises, 2,641,082 10/22/2002
Inc.
--------------------------------------------------------------------------------
XX Xxxx'x United States XXXXX 75/251,697/ 2/28/1997/
Enterprises, 2,191,918 9/29/1998
Inc.
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XX Xxxx'x United States QT POWER CHAIN 76/403,299/ 5/2/2002/
Enterprises, 2,723,745 6/10/2003
Inc.
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XX Xxxx'x United States ROTO-CAM 72/285,223/ 11/20/1967/
Enterprises, 859,263 10/29/1968
Inc.
--------------------------------------------------------------------------------
XX Xxxx'x United States ROTO-CONE 72/015,359/ 9/10/1956/
Enterprises, 676,279 3/31/1959
Inc.
--------------------------------------------------------------------------------
ii
APPLICATION/
GRANTOR REGISTRATION
COUNTRY XXXX NO. APP/REG DATE
--------------------------------------------------------------------------------
XX Xxxx'x United States SPEEDLIGN 78/350,700/ 1/12/2004/
Enterprises, 2,991,827 9/6/2005
Inc.
--------------------------------------------------------------------------------
XX Xxxx'x United States S-TRAC 75/272,936/ 4/11/1997/
Enterprises, 2,257,668 6/29/1999
Inc.
--------------------------------------------------------------------------------
XX Xxxx'x United States SUPERSTART 74/104,389/ 10/9/1990/
Enterprises, 1,686,040 5/12/1992
Inc.
--------------------------------------------------------------------------------
XX Xxxx'x United States SURE GRIP 71/640,418/ 1/6/1953/
Enterprises, (stylized) 645,415 5/14/1957
Inc.
--------------------------------------------------------------------------------
XX Xxxx'x United States SURE-FLEX 72/043,720/ 1/9/1958/
Enterprises, 668,649 10/21/1958
Inc. (stylized)
--------------------------------------------------------------------------------
XX Xxxx'x United States SURE-GRIP 71/575,508/ 3/15/1949/
Enterprises, 646,423 6/4/1957
Inc.
--------------------------------------------------------------------------------
XX Xxxx'x United States SURE-GRIP 73/136,699/ 8/8/1977/
Enterprises, 1,109,150 12/19/1978
Inc.
--------------------------------------------------------------------------------
XX Xxxx'x United States TRUETUBE 75/273,177/ 4/11/1997/
Enterprises, 2,152,364 4/21/1998
Inc.
--------------------------------------------------------------------------------
XX Xxxx'x United States ULTRACON 72/300,318/ 6/13/1968/
Enterprises, 862,655 12/31/1968
Inc.
--------------------------------------------------------------------------------
XX Xxxx'x United States ULTRACON II 75/273,179/ 4/11/1997/
Enterprises, 2,150,835 4/14/1998
Inc.
--------------------------------------------------------------------------------
iii
APPLICATION/
GRANTOR REGISTRATION
COUNTRY XXXX NO. APP/REG DATE
--------------------------------------------------------------------------------
XX Xxxx'x United States ULTRA-HELIX 75/559,570/ 9/25/1998/
Enterprises, 2,351,349 5/23/2000
Inc.
--------------------------------------------------------------------------------
XX Xxxx'x United States ULTRA-V 73/001,734/ 10/9/1973/
Enterprises, 1,001,969 1/21/1975
Inc.
--------------------------------------------------------------------------------
XX Xxxx'x United States ULTRA-V 73/003,203/ 10/10/1973/
Enterprises, 1,001,970 1/21/1975
Inc.
--------------------------------------------------------------------------------
XX Xxxx'x United States U-TROL 73/104,511/ 10/26/1976/
Enterprises, 1,070,167 7/26/1977
Inc.
--------------------------------------------------------------------------------
XX Xxxx'x United States VAR-A-CONE 75/273,180/ 4/11/1997/
Enterprises, 2,152,365 4/21/1998
Inc.
--------------------------------------------------------------------------------
XX Xxxx'x United States W XX XXXX'X 75/107,136/ 5/20/1996/
Enterprises, (and design) 2,059,245 5/6/1997
Inc.
--------------------------------------------------------------------------------
XX Xxxx'x United States WIN-TRAC 78/306,778/ 9/29/2003/
Enterprises, 2,961,309 6/7/2005
Inc.
--------------------------------------------------------------------------------
XX Xxxx'x United States WOOD'S@WORK 76/402,992/ 5/2/2002/
Enterprises, 2,801,090 12/30/2003
Inc.
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