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Trademark Security Agreement

 

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Title:

Trademark Security Agreement

Entities:

Italian Restaurants Holding Corp

Date:

2003

Size:

Preview shows 5KB of 31KB total

Price:

$41

ID:

#1920230

 

 

► Financing ► Security ► Trademark Security Agreements

 

 

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                                                               EXECUTION VERSION


TRADEMARK SECURITY AGREEMENT

This TRADEMARK SECURITY AGREEMENT (this "AGREEMENT"), dated as of July
7, 2003, is made by BERTOLINI'S RESTAURANTS, INC., a Delaware corporation
("DEBTOR"), in favor of WELLS FARGO FOOTHILL, INC., a California corporation
("LENDER"), with reference to the following:

WHEREAS, Morton's Restaurant Group, Inc., a Delaware corporation
("BORROWER"), and the Lender are, contemporaneously herewith, entering into that
certain Loan and Security Agreement of even date herewith (as amended, restated,
supplemented or otherwise modified from time to time, the "LOAN AGREEMENT");

WHEREAS, Debtor has executed that certain General Continuing Guaranty,
of even date herewith, in favor of Lender (the "GUARANTY"), respecting the
obligations of Borrower owing to Lender and the Bank Product Providers under the
Loan Agreement;

WHEREAS, Debtor has executed that certain Security Agreement of even
date herewith, in favor of Lender (the "SECURITY AGREEMENT"), pursuant to which
Debtor has granted to Lender security interests in (among other things) all
general intangibles of Debtor; and

WHEREAS, pursuant to the Loan Documents, and as one of the conditions
precedent to the obligations of Lender under the Loan Agreement, Debtor has
agreed to execute and deliver this Agreement to Lender for filing with the PTO
and with any other relevant recording systems in any domestic or foreign
jurisdiction, and as further evidence of and to effectuate Lender's existing
security interests in the trademarks and other general intangibles described
herein.

NOW, THEREFORE, for valuable consideration, the receipt and adequacy
of which is hereby acknowledged, Debtor hereby agrees in favor of Lender, for
the benefit of Lender and the Bank Product Providers, as follows:

1. DEFINITIONS; INTERPRETATION.

(a) CERTAIN DEFINED TERMS. All capitalized terms used
herein and not otherwise defined herein shall have the meanings ascribed to them
in the Loan Agreement. As used in this Agreement, the following terms shall have
the following meanings:

"AGREEMENT" has the meaning set forth in the preamble hereto.

"DEBTOR" has the meaning set forth in the preamble hereto.

"EVENT OF DEFAULT" means any Event of Default under the Loan
Agreement.

"GUARANTY" has the meaning set forth in the recitals hereto.

"LENDER" has the meaning set forth in the preamble hereto.

{Page}

"LOAN AGREEMENT" has the meaning set forth in the recitals hereto.

"PROCEEDS" means whatever is receivable or received from or upon the
sale, lease, license, collection, use, exchange or other disposition, whether
voluntary or involuntary, of any Trademark Collateral, including "proceeds" as
such term is defined in the UCC, and all proceeds of proceeds. Proceeds shall
include (i) any and all accounts, chattel paper, instruments, general
intangibles, cash and other proceeds, payable to or for the account of Debtor,
from time to time in respect of any of the Trademark Collateral, (ii) any and
all proceeds of any insurance, indemnity, warranty or guaranty payable to or for
the account of Debtor from time to time with respect to any of the Trademark
Collateral, (iii) any and all claims and payments (in any form whatsoever) made
or due and payable to Debtor from time to time in connection with any
requisition, confiscation, condemnation, seizure or forfeiture of all or any
part of the Trademark Collateral by any Person acting under color of
governmental authority, and (iv) any and all other amounts from time to time
paid or payable under or in connection with any of the Trademark Collateral or
for or on account of any damage or injury to or conversion of any Trademark
Collateral by any Person.

"PTO" means the United States Patent and Trademark Office and any
successor thereto.

"SECURED OBLIGATIONS" means, with respect to Debtor, all liabilities,
obligations, or undertakings owing by Debtor to Lender or any Bank Product
Provider of any kind or description arising out of or outstanding under,
advanced or issued pursuant to, or evidenced by the Guaranty, the Loan
Agreement, this Agreement, or any of the other Loan Documents, irrespective of
whether for the payment of money, whether direct or indirect, absolute or
contingent, due or to become due, voluntary or involuntary, whether now existing
or hereafter arising, and including all interest, costs, indemnities, fees
(including attorneys fees), and expenses (including interest, costs,
indemnities, fees, and expenses that, but for the provisions of the Bankruptcy
Code, would have accrued irrespective of whether a claim therefor is allowed)
and any and all other amounts which Debtor is required to pay pursuant to any of

 

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