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Collateral Trust Agreement

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Title:

Collateral Trust Agreement

Entities:

Friedman’s Inc.; Bank of America, NA; Skadden, Arps, Slate, Meagher & Flom LLP

Date:

2004

Size:

Preview shows 5KB of 99KB total

Price:

$50

ID:

#1189165

► Miscellany ► Trusts ► Collateral Trust Agreements
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► Services ► Legal

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                          COLLATERAL TRUST AGREEMENT



                         dated as of September 8, 2004



                                     among



                              FRIEDMAN'S INC. AND

                           OTHER IDENTIFIED PARTIES,

                                  as Grantors



                                      and



                                 William Kaye,

                             as Collateral Trustee









<PAGE>





<TABLE>

<CAPTION>



                                                 TABLE OF CONTENTS







ARTICLE 1

<S>                                                                                                         <C>

         DEFINITIONS.....................................................................................- 3 -

         SECTION 1.1   Certain Defined Terms.............................................................- 3 -

         SECTION 1.2   Certain References................................................................- 6 -



ARTICLE 2



         ACCEPTANCE OF TRUST; EXECUTION AND DELIVERY

         OF SECURITY AGREEMENT AND INTERCREDITOR AGREEMENT;

         COVENANTS WITH RESPECT TO COLLATERAL;

         TRADE CREDITOR LIEN.............................................................................- 7 -



         SECTION 2.1   Acceptance of Trust...............................................................- 7 -

         SECTION 2.2   Execution, Delivery and Receipt of

                       Collateral Documents by Collateral Trustee........................................- 7 -

         SECTION 2.3   Execution and Delivery of Intercreditor Agreement.................................- 7 -



ARTICLE 3



         DEFAULT NOTICE; REMEDIES........................................................................- 7 -

         SECTION 3.1   Default Notice....................................................................- 7 -

         SECTION 3.2   Appointment and Authority of Collateral Trustee...................................- 8 -

         SECTION 3.3   Action Upon Receipt of Default Notice.............................................- 8 -

         SECTION 3.4   Distribution of Proceeds..........................................................- 8 -

         SECTION 3.5   Appointment of a Receiver.........................................................- 8 -

         SECTION 3.6   Exercise of Powers; Fiduciary Bond................................................- 8 -

         SECTION 3.7   Remedies Not Exclusive............................................................- 9 -

         SECTION 3.8   Right to Initiate Judicial Proceedings, Etc.......................................- 9 -

         SECTION 3.9   Limitation of Rights, Powers and Authority........................................- 10 -

         SECTION 3.10  Limitation on Collateral Trustee's Duties in Respect of Collateral................- 10 -

         SECTION 3.11  Limitation by Law.................................................................- 10 -



ARTICLE 4



         DIRECTION BY TRUST BOARD........................................................................- 10 -

         SECTION 4.1   Direction by Trust Board..........................................................- 10 -



ARTICLE 5



         PROCEEDS ACCOUNT................................................................................- 11 -

         SECTION 5.1   The Proceeds Account..............................................................- 11 -

         SECTION 5.2   Control of Proceeds Account.......................................................- 11 -

         SECTION 5.3   Investment of Funds Deposited in Proceeds Account.................................- 11 -



ARTICLE 6



         NOTICE TO TRADE CREDITORS; APPLICATION OF PROCEEDS..............................................- 12 -

         SECTION 6.1   Notice to Trade Creditors.........................................................- 12 -

         SECTION 6.2   Application of Proceeds...........................................................- 12 -

         SECTION 6.3   Distribution of Proceeds..........................................................- 13 -



ARTICLE 7



         AGREEMENTS WITH THE COLLATERAL TRUSTEE..........................................................- 14 -

         SECTION 7.1   Determination of Approve Trade Creditor Status;

End of Preview

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