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Receivables Transfer Agreement

 

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Title:

Receivables Transfer Agreement

Entities:

Interface Inc; Interface, Inc.

Date:

2001

Size:

Preview shows 6KB of 22KB total

Price:

$42

ID:

#1607322

 

 

► Miscellany ► Transfer ► Receivables Transfer Agreements
► Consumer ► Textiles - Non Apparel

 

 

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                     SECOND AMENDMENT AND LIMITED WAIVER TO

RECEIVABLES TRANSFER AGREEMENT


This Second Amendment and Limited Waiver to Receivables Transfer
Agreement (this "Amendment") is entered into as of December 20, 2000 by and
among Bentley Mills, Inc., a Delaware corporation ("Bentley"), Chatham Marketing
Co., a North Carolina corporation ("Chatham"), Guilford of Maine Marketing Co.,
a Nevada corporation ("Guilford"), Intek Marketing Co., a Nevada corporation
("Intek"), Interface Architectural Resources, Inc., a Michigan corporation
("Interface Architectural"), Interface Flooring Systems, Inc., a Georgia
corporation ("Interface Flooring"), Pandel, Inc., a Georgia corporation
("Pandel"), Prince Street Technologies, Ltd., a Georgia corporation ("Prince
Street"), and Toltec Fabrics, Inc., a Georgia corporation ("Toltec" and together
with Bentley, Chatham, Guilford, Intek, Interface Architectural, Interface
Flooring, Pandel and Prince Street, the "Original Sellers" and, individually, an
"Original Seller"), and Interface, Inc., a Delaware corporation, as Originator.
Unless defined elsewhere herein, capitalized terms used in this Amendment shall
have the meanings assigned to such terms in the Transfer Agreement (as defined
below) (or, if not defined in the Transfer Agreement, the meaning assigned to
such term in the Purchase Agreement).

PRELIMINARY STATEMENTS
----------------------

Each of the Original Sellers and Originator entered into a certain
Receivables Transfer Agreement, dated as of December 19, 2000 (as amended,
restated, supplemented or otherwise modified from time to time, the "Transfer
Agreement").

Each of the parties hereto has requested that the Transfer Agreement be
modified in order to replace Exhibit II and to allow the use of various
corporate names, assumed names or trade names by various Original Sellers.

AGREEMENT
---------

NOW, THEREFORE, in consideration of the premises, and for other good
and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the parties hereto hereby agree as follows:


1. Amendment. (a) Section 2.1(n) of the Transfer Agreement is hereby
amended by deleting Section 2.1(n) in its entirety and substituting the
following Section 2.1(n) in lieu thereof:



"(n) Names. (i) Other than those corporate names,
trade names or assumed names listed on Exhibit II hereto, in
the past five (5) years, such Original Seller has not used any
corporate names, trade names or assumed names other than the
name in which it has executed this Agreement and (ii) other
than (x) the name in which it has executed this Agreement or
(y) corporate names, trade names or assumed names of such
Original Seller listed on Exhibit II hereto, such Original
Seller has not used any corporate names, trade names or
assumed names with respect to, or in connection with, any
Receivable arising after the Initial Cutoff Date. "

(a) The Transfer Agreement is hereby amended by replacing
Exhibit II with a new Exhibit II, which Exhibit II is attached hereto
as Exhibit B.

(b) The Transfer Agreement is hereby amended by adding the
following new Section 4.2(f):

"(f) Corporate Names, Trade Names and Assumed Names.
Such Original Seller will not use any corporate names, trade
names or assumed names other than the name in which it has
executed this Agreement with respect to, or in connection
with, the creation of any Receivable occurring after the
Initial Cutoff Date, provided, that such Original Seller may
use any corporate name, trade name or assumed name as
permitted by Section 2.1(n) hereof."

2. Limited Waiver. Subject to the terms and conditions set forth herein
and upon the effectiveness of this Amendment, Originator hereby waives any
Termination Event or Potential Termination Event that may have arisen on or
before the date hereof as a result of the failure of certain Original Sellers to
have disclosed of such Original Sellers' use of certain corporate, trade or
assumed names in contravention of the representation and warranty contained in
Section 2.1(n) of the Transfer Agreement.

3. Representations and Warranties. Each Original Seller represents and
warrants, as of the date hereof, that after giving effect to this Amendment:

(a) all of the representations and warranties of such Original
Seller contained in the Transfer Agreement, and in each other document
or certificate delivered in connection therewith (other than those that
expressly speak only as of a different date), are true and correct; and




(b) no Termination Event or Potential Termination Event has
occurred and is continuing.

4. Conditions to Effectiveness of Amendment. The effectiveness of this
Amendment is subject to the satisfaction of the following conditions precedent:

(a) Amendment. This Amendment shall have been duly executed
and delivered by each of the parties hereto.

 

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