SUBORDINATED COLLATERAL AGREEMENTSubordinated Collateral Agreement • August 21st, 2009 • General Environmental Management, Inc • Hazardous waste management • California
SUBORDINATED COLLATERAL AGREEMENT, dated as of August 17, 2009, by and among GENERAL ENVIRONMENTAL MANAGEMENT, INC., a Nevada corporation (“GEM-NV”), GENERAL ENVIRONMENTAL MANAGEMENT, INC., a Delaware corporation (“GEM-DE”), GENERAL ENVIRONMENTAL MANAGEMENT OF RANCHO CORDOVA LLC, a California limited liability company (“GEMRC”), GEM 6 ACQUISITIONS CORPORATION, a Delaware corporation (“GEM 6”), ISLAND ENVIRONMENTAL SERVICES, INC., a California corporation (“Island”) and any and all Additional Grantors who may become a party to this Agreement from time to time (the Borrower, GEM-DE, GEMRC, GEM 6, Island and such Additional Grantors are each hereinafter referred to as a “Grantor” and collectively as the “Grantors”), and MTS ACQUISITION COMPANY, INC., a California corporation (the “Secured Party”).
