JOINDER AGREEMENT
Exhibit 4.4
JOINDER AGREEMENT
THIS JOINDER AGREEMENT (this Agreement), dated as of April 4, 2014, is entered into between ARCHWAY SALES, LLC, a Delaware limited liability company (the New Subsidiary), and BANK OF AMERICA, N.A., as Agent (as defined), under that certain Credit Agreement dated as of March 9, 2011 (as amended, restated, extended, supplemented or otherwise modified from time to time, the Credit Agreement), among NEXEO SOLUTIONS, LLC, a Delaware limited liability company (the Borrower), NEXEO SOLUTIONS HOLDINGS LLC, a Delaware limited liability company (Holdings), NEXEO SOLUTIONS SUB HOLDING CORP., a Delaware corporation (Sub Holdco), certain Subsidiaries of the Borrower party thereto from time to time (each a Subsidiary Grantor), the Lenders party thereto from time to time, and BANK OF AMERICA, N.A, in its capacity as collateral agent for the Secured Parties (in such capacity, together with its successors in such capacity, the Agent). All capitalized terms used herein and not otherwise defined shall have the meanings set forth in the Credit Agreement. The New Subsidiary and the Agent, for the benefit of the Lenders, hereby agree as follows:
1. The New Subsidiary hereby acknowledges, agrees and confirms that, by its execution of this Agreement, the New Subsidiary will be deemed to be a Subsidiary Grantor under the Pledge and Security Agreement, dated as of March 31, 2011, among the Borrower, Holdings, Sub Holdco, and certain Subsidiaries of the Company from time to time party thereto, in favor of the Agent for the benefit of the Secured Parties (as amended, restated, amended and restated, supplemented or otherwise modified from time to time, the Security Agreement) for all purposes of the Security Agreement and shall have all of the obligations of a Subsidiary Grantor thereunder as if it had executed the Security Agreement, including without limitation the grant pursuant to Article II of the Security Agreement of a security interest to the Agent for the benefit of the Secured Parties in the property and property rights constituting Collateral (as defined in Article II of the Security Agreement) whether now owned by or owing to, or hereafter acquired by or arising in favor of, such Subsidiary Guarantor, to secure the prompt and complete payment and performance of all Secured Obligations, all with the same force and effect as if the New Subsidiary were a signatory to the Security Agreement.
2. The New Subsidiary hereby agrees that each reference in the Security Agreement to a Subsidiary Grantor shall also mean and be a reference to the New Subsidiary.
3. Attached to this Agreement are duly completed schedules and certain exhibits (the Supplemental Schedules) to the Security Agreement. The New Subsidiary represents and warrants that the information contained on each of the Supplemental Schedules with respect to the New Subsidiary and its properties and affairs is true, complete and accurate as of the date hereof.
4. The New Subsidiary hereby waives acceptance by the Agent and the Lenders of this Agreement and acknowledges that the Secured Obligations are and shall be deemed to be incurred, and that credit extensions under the Credit Agreement, Cash Management Services, and Hedging Obligations are made and maintained in reliance on this Agreement and the New Subsidiarys joinder as a party to the Security Agreement as herein provided.
5. This Agreement may be executed in any number of counterparts, each of which when so executed and delivered shall be an original, but all of which shall constitute one and the same instrument. Delivery of an executed counterpart of a signature page of this Agreement by facsimile or other electronic transmission shall be effective as delivery of a manually executed counterpart of this Agreement.
6. THIS AGREEMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES HEREUNDER SHALL BE CONSTRUED IN ACCORDANCE WITH AND GOVERNED BY THE LAWS OF THE STATE OF NEW YORK.
[Signature page follows]
IN WITNESS WHEREOF, the New Subsidiary has caused this Agreement to be duly executed by its authorized officer, and the Agent, for the benefit of the Lenders, has caused the same to be accepted by its authorized officer, as of the day and year first above written.
| NEW SUBSIDIARY: | |
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| ARCHWAY SALES, LLC | |
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| By: | /s/ Ross Crane |
| Name: | Ross Crane |
| Title: | Executive Vice President, Chief |
| Financial Officer and Assistant Treasurer |
[Signature Page to Joinder to TLB Security Agreement]
Acknowledged and accepted:
BANK OF AMERICA, N.A., as Agent |
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By: | /s/ Aamir Saleem |
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Name: | Aamir Saleem |
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Title: | Vice President |
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[Signature Page to Joinder to TLB Security Agreement]
SCHEDULE 1
Excluded Accounts
1. Payroll, employee benefits, trust or tax withholding accounts funded in the ordinary course of business
Owner |
| Bank Name |
| Type of Account |
| Account Number |
Archway Sales, LLC |
| BMO Harris Bank |
| Operating |
| 0048453 |
Archway Sales, LLC |
| BMO Harris Bank |
| Safe Deposit Box |
| 1003143604306 |
Archway Sales, LLC |
| Commerce Bank |
| Operating |
| 208056398 |
Archway Sales, LLC |
| Parkside Bank & Trust |
| Operating |
| 8114255 |
2. Petty cash accounts funded in the ordinary course of business
None.
3. Designated Disbursement Accounts
None.
4. Foreign bank accounts
None.
EXHIBIT A
Type of Organization, Jurisdiction of Organization, Organizational Identification
Number, Federal Employer Identification Number, Chief Executive Office, Locations
I. The corporate name, jurisdiction of organization, organizational identification number and federal employer identification number of the New Subsidiary is as follows:(1)
Grantor |
| Jurisdiction of |
| Organizational |
| Federal Employee |
Archway Sales, LLC |
| DE |
| 5509441 |
| 430907868 |
II. The New Subsidiarys mailing address and the location of its place of business (if it has only one) or its chief executive office (if it has more than one place of business), is as follows:
Grantor |
| Mailing Address |
| Chief Executive Office |
Archway Sales, LLC |
| 4155 Manchester Avenue St. Louis, MO 63110 |
| 4155 Manchester Avenue St. Louis, MO 63110 |
(1) Pending completion of the acquisition and all conversions contemplated therein.
III. (a) Each location that is owned by the New Subsidiary where Collateral is located as of the date hereof (except for Inventory in transit) is as follows:
None.
(b) Each location that is leased by the New Subsidiary where Collateral is located as of the date hereof (except for Inventory in transit) is as follows:
Grantor |
| Leased Location |
Archway Sales, LLC |
| 3821 New Getwell, Memphis, TN 38118 |
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| 4155 Manchester Avenue, St. Louis, MO 63110 |
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| 4321 Chouteau Avenue, St. Louis, MO 63110 |
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| 1325 Wiley Road, Suite 124, Schaumberg, IL 60173 |
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| 565 Taxter Road, Elmsford, NY 10523 |
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| 1745 Phoenix Boulevard, Atlanta, GA 30349 |
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| 1828 Swift, North Kansas City, MO 64116 |
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| 6615 Corporate Drive, Cincinnati, OH 45242 |
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| 4128 Manchester Avenue, St. Louis, MO 63110 |
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| 740 7th Street, Oakmont, PA 15139 |
(c) Each location where Collateral is held in a public warehouse or is otherwise held by a bailee or on consignment as of the date hereof (except for Inventory in transit) is as follows:
Location |
| Owner of Inventory |
1356 Milledge St. |
| Archway Sales, LLC |
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266 Villanova Dr. SW |
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725 N. Baker Dr. |
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2710 Regency Drive, Suite 100 |
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5470 Hecla Street |
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1113 Aviation Blvd. |
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1020 Lockwood Drive |
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1800 B Southern Avenue |
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13530 Rosecrans Ave. |
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512 Southbridge Street |
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Crystal Warehouse, 25 Industrial Way |
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W229N1492 Westwood Dr. |
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84-132 Lockwood Street |
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41 Runway Road |
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4701 W. Jefferson St. |
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9601 Lilac Drive |
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2117 Charles Avenue |
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101 Wayne Place |
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170 Pioneer Drive |
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1301 S. Park Ave. |
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EXHIBIT B
Bailees, Warehousemen and Third Party Possessors of Collateral
The following bailees, warehouseman and other third parties are in possession or control of Inventory of the New Subsidiary (except for Inventory in transit):
Name and |
| Nature of Relationship |
| Value of Inventory |
| Owner of Inventory | |
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1356 Milledge St. East Point, Georgia 30344 |
| Third-Party Logistics Provider |
| $ | 0 |
| Archway Sales, LLC |
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266 Villanova Dr. SW Atlanta, Georgia 30336 |
| Third-Party Logistics Provider |
| $ | 1,326,204.55 |
| Archway Sales, LLC |
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725 N. Baker Dr. Itasca, Illinois 60143 |
| Third-Party Logistics Provider |
| $ | 1,791,341.61 |
| Archway Sales, LLC |
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2710 Regency Drive, Suite 100 Grand Prairie, Texas 75050 |
| Third-Party Logistics Provider |
| $ | 624,600.34 |
| Archway Sales, LLC |
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5470 Hecla Street Detroit, Michigan 48208 |
| Third-Party Logistics Provider |
| $ | 304,738.92 |
| Archway Sales, LLC |
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1113 Aviation Blvd. Hebron, Kentucky 41018 |
| Third-Party Logistics Provider |
| $ | 300,235.96 |
| Archway Sales, LLC |
1020 Lockwood Drive Houston, Texas 77020 |
| Third-Party Logistics Provider |
| $ | 443,379.11 |
| Archway Sales, LLC |
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1800 B Southern Avenue Kansas City, Missouri 64116 |
| Third-Party Logistics Provider |
| $ | 421,028.21 |
| Archway Sales, LLC |
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13530 Rosecrans Ave. Santa Fe Springs, California 90670 |
| Third-Party Logistics Provider |
| $ | 421,872.61 |
| Archway Sales, LLC |
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512 Southbridge Street Worchester, Massachusetts 01610 |
| Third-Party Logistics Provider |
| $ | 64,033.80 |
| Archway Sales, LLC |
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Crystal Warehouse, 25 Industrial Way Wilmington, Massachusetts 01887 |
| Third-Party Logistics Provider |
| $ | 901,994.14 |
| Archway Sales, LLC |
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W229N1492 Westwood Dr. Waukesha, Wisconsin 53186 |
| Third-Party Logistics Provider |
| $ | 47,754.88 |
| Archway Sales, LLC |
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84-132 Lockwood Street Newark, New Jersey 07105 |
| Third-Party Logistics Provider |
| $ | 480,581.53 |
| Archway Sales, LLC |
41 Runway Road Levittown, Pennsylvania 19057 |
| Third-Party Logistics Provider |
| $ | 50,497.77 |
| Archway Sales, LLC |
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4701 W. Jefferson St. Phoenix, Arizona 85043 |
| Third-Party Logistics Provider |
| $ | 145,695.97 |
| Archway Sales, LLC |
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9601 Lilac Drive St. Louis, Missouri 63137 |
| Third-Party Logistics Provider |
| $ | 0 |
| Archway Sales, LLC |
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2117 Charles Avenue St. Paul, Minnesota 55114 |
| Third-Party Logistics Provider |
| $ | 45,949.89 |
| Archway Sales, LLC |
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101 Wayne Place Tampa, Florida 33619 |
| Third-Party Logistics Provider |
| $ | 40,657.74 |
| Archway Sales, LLC |
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170 Pioneer Drive Leominster, MA 01453 |
| Consignment |
| $ | 47,576.65 |
| Archway Sales, LLC |
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1301 S. Park Ave. Linden, NJ 07036 |
| Public Warehouse |
| 1,778,718.28 |
| Archway Sales, LLC |
EXHIBIT C
Letter-of-Credit Rights and Chattel Paper
None.
EXHIBIT D
United States Federal Intellectual Property Registrations and Applications
I. Patents and Patent Applications:
None.
II. Trademark Registrations and Applications:
None.
III. Copyright Registrations:
None.
EXHIBIT E
Commercial Tort Claims
None.
EXHIBIT F
Pledged Collateral
None.
EXHIBIT K
FCC Licenses
None.
EXHIBIT G
UCC Filing Offices
Grantor |
| UCC Filing Office |
Archway Sales, LLC |
| Delaware |