JUNIOR SUBORDINATION AND INTERCREDITOR AGREEMENTJunior Subordination and Intercreditor Agreement • March 31st, 2006 • Ibf Vi Guaranteed Income Fund • Asset-backed securities • New York
This JUNIOR SUBORDINATION AND INTERCREDITOR AGREEMENT (this “Agreement”), dated as of November 10, 2005, is among IBF FUND LIQUIDATING LLC, a Delaware limited liability company, as holder of the Seller Notes (as defined below) (“Senior Creditor”) and IBF FUND LIQUIDATING LLC, a Delaware limited liability company, as holder of the Convertible Debentures (as defined below) (the “Subordinated Creditor”) and acknowledged by SUNSET BRANDS, INC., a Nevada corporation (“Sunset”) and U.S. MILLS, INC., a Delaware corporation (“US Mills”), (Sunset and US Mills sometimes hereinafter are referred to individually as an “Obligor” and collectively as the “Obligors”).
