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Axalta Coating Systems Ltd. – IPO: ‘S-1’ on 8/20/14 – EX-10.7

On:  Wednesday, 8/20/14, at 5:06pm ET   ·   Accession #:  1193125-14-315910   ·   File #:  333-198271

Previous ‘S-1’:  None   ·   Next:  ‘S-1/A’ on 9/25/14   ·   Latest:  ‘S-1/A’ on 8/10/15   ·   8 References:   

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  As Of                Filer                Filing    For·On·As Docs:Size              Issuer               Agent

 8/20/14  Axalta Coating Systems Ltd.       S-1                   69:14M                                    RR Donnelley/FA

Initial Public Offering (IPO):  Registration Statement (General Form)   —   Form S-1
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: S-1         Registration Statement (General Form)               HTML   2.71M 
 2: EX-2.1      Plan of Acquisition, Reorganization, Arrangement,   HTML    701K 
                          Liquidation or Succession                              
 3: EX-2.2      Plan of Acquisition, Reorganization, Arrangement,   HTML     53K 
                          Liquidation or Succession                              
 4: EX-4.1      Instrument Defining the Rights of Security Holders  HTML    708K 
12: EX-4.10     Instrument Defining the Rights of Security Holders  HTML     46K 
13: EX-4.11     Instrument Defining the Rights of Security Holders  HTML    740K 
14: EX-4.13     Instrument Defining the Rights of Security Holders  HTML     33K 
15: EX-4.14     Instrument Defining the Rights of Security Holders  HTML     43K 
16: EX-4.15     Instrument Defining the Rights of Security Holders  HTML     36K 
17: EX-4.16     Instrument Defining the Rights of Security Holders  HTML     55K 
18: EX-4.17     Instrument Defining the Rights of Security Holders  HTML     35K 
19: EX-4.18     Instrument Defining the Rights of Security Holders  HTML     35K 
20: EX-4.19     Instrument Defining the Rights of Security Holders  HTML     34K 
21: EX-4.20     Instrument Defining the Rights of Security Holders  HTML     47K 
 5: EX-4.3      Instrument Defining the Rights of Security Holders  HTML     33K 
 6: EX-4.4      Instrument Defining the Rights of Security Holders  HTML     43K 
 7: EX-4.5      Instrument Defining the Rights of Security Holders  HTML     36K 
 8: EX-4.6      Instrument Defining the Rights of Security Holders  HTML     55K 
 9: EX-4.7      Instrument Defining the Rights of Security Holders  HTML     34K 
10: EX-4.8      Instrument Defining the Rights of Security Holders  HTML     34K 
11: EX-4.9      Instrument Defining the Rights of Security Holders  HTML     33K 
22: EX-10.1     Material Contract                                   HTML   1.00M 
31: EX-10.10    Material Contract                                   HTML    179K 
32: EX-10.11    Material Contract                                   HTML     55K 
33: EX-10.12    Material Contract                                   HTML     70K 
34: EX-10.13    Material Contract                                   HTML     76K 
35: EX-10.14    Material Contract                                   HTML    102K 
36: EX-10.15    Material Contract                                   HTML    138K 
37: EX-10.16    Material Contract                                   HTML    144K 
38: EX-10.17    Material Contract                                   HTML     70K 
39: EX-10.18    Material Contract                                   HTML     57K 
40: EX-10.19    Material Contract                                   HTML     71K 
23: EX-10.2     Material Contract                                   HTML     26K 
41: EX-10.20    Material Contract                                   HTML    125K 
42: EX-10.21    Material Contract                                   HTML    111K 
43: EX-10.22    Material Contract                                   HTML    109K 
44: EX-10.23    Material Contract                                   HTML    114K 
45: EX-10.24    Material Contract                                   HTML    114K 
46: EX-10.25    Material Contract                                   HTML    116K 
47: EX-10.26    Material Contract                                   HTML    122K 
48: EX-10.27    Material Contract                                   HTML    100K 
49: EX-10.28    Material Contract                                   HTML    101K 
50: EX-10.29    Material Contract                                   HTML    110K 
24: EX-10.3     Material Contract                                   HTML     78K 
51: EX-10.30    Material Contract                                   HTML    111K 
52: EX-10.31    Material Contract                                   HTML    121K 
53: EX-10.32    Material Contract                                   HTML    110K 
54: EX-10.33    Material Contract                                   HTML    111K 
55: EX-10.34    Material Contract                                   HTML     61K 
56: EX-10.35    Material Contract                                   HTML     60K 
57: EX-10.36    Material Contract                                   HTML     86K 
58: EX-10.37    Material Contract                                   HTML     87K 
59: EX-10.38    Material Contract                                   HTML     75K 
60: EX-10.39    Material Contract                                   HTML    167K 
25: EX-10.4     Material Contract                                   HTML    130K 
61: EX-10.40    Material Contract                                   HTML    160K 
62: EX-10.41    Material Contract                                   HTML    110K 
63: EX-10.42    Material Contract                                   HTML    104K 
64: EX-10.43    Material Contract                                   HTML    163K 
65: EX-10.44    Material Contract                                   HTML    155K 
66: EX-10.45    Material Contract                                   HTML    111K 
67: EX-10.46    Material Contract                                   HTML    105K 
26: EX-10.5     Material Contract                                   HTML    138K 
27: EX-10.6     Material Contract                                   HTML     31K 
28: EX-10.7     Material Contract                                   HTML     31K 
29: EX-10.8     Material Contract                                   HTML     95K 
30: EX-10.9     Material Contract                                   HTML     80K 
68: EX-21.1     Subsidiaries of the Registrant                      HTML     22K 
69: EX-23.2     Consent of Experts or Counsel                       HTML     18K 


EX-10.7   —   Material Contract


This exhibit is an HTML Document rendered as filed.  [ Alternative Formats ]



  EX-10.7  

Exhibit 10.7

EXECUTION VERSION

INTELLECTUAL PROPERTY SECURITY AGREEMENT

This INTELLECTUAL PROPERTY SECURITY AGREEMENT (as amended, amended and restated, supplemented or otherwise modified from time to time, the “IP Security Agreement”) dated February 1, 2013, is among the Persons listed on the signature pages hereof (collectively, the “Grantors”) and Wilmington Trust, National Association, as collateral agent (the “Collateral Agent”) for the Secured Parties (as defined in the Euro Notes Indenture referred to below).

Reference is made to (i) the Indenture dated as of February 1, 2013 (as it may hereafter be amended, amended and restated, supplemented, replaced, refinanced or otherwise modified from time to time (including any increases of the principal amount outstanding thereunder), the “Euro Notes Indenture”), among Flash Dutch 2 B.V. and U.S. Coatings Acquisition Inc., as Issuers, Flash Dutch 1 B.V., as Holdings, Coatings Co. U.S. Inc., as U.S. Holdings and Wilmington Trust, National Association, as trustee (in such capacity, the “Trustee”) and collateral agent (in such capacity, the “Collateral Agent”) and (ii) the Security Agreement dated February 1, 2013 (as amended, amended and restated, supplemented or otherwise modified from time to time, the “Security Agreement”), among the Grantors from time to time party thereto and the Collateral Agent. Terms defined in the Euro Notes Indenture or the Security Agreement and not otherwise defined herein are used herein as defined in the Euro Notes Indenture or the Security Agreement (and in the event of a conflict, the applicable definition shall be the one given to such term in the Security Agreement).

WHEREAS, under the terms of the Security Agreement, the Grantors have granted to the Collateral Agent, for the benefit of the Secured Parties, a security interest in, among other property, certain intellectual property of the Grantors, and have agreed thereunder to execute this IP Security Agreement for recording with the U.S. Patent and Trademark Office, the United States Copyright Office and any other appropriate U.S. governmental authorities.

NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, each Grantor agrees as follows:

SECTION 1. Grant of Security. Each Grantor hereby grants to the Collateral Agent for the benefit of the Secured Parties a security interest in all of such Grantor’s right, title and interest in and to the following, whether now owned or hereafter acquired by the undersigned (the “Collateral”):

(i) the patents and patent applications set forth in Schedule A hereto (the “Patents”);

(ii) the trademark and service mark registrations and applications set forth in Schedule B hereto (provided that no security interest shall be granted in United States intent-to-use trademark applications to the extent that, and so long as creation of a security interest therein or the assignment thereof would result in the loss of any material rights therein), together with the goodwill symbolized thereby (the “Trademarks”);


(iii) all copyrights, whether registered or unregistered, including, without limitation, the copyright registrations and applications and exclusive copyright licenses set forth in Schedule C hereto (the “Copyrights”);

(iv) all reissues, divisions, continuations, continuations-in-part, extensions, renewals and reexaminations of any of the foregoing, all rights in the foregoing provided by international treaties or conventions, all rights corresponding thereto throughout the world and all other rights of any kind whatsoever of such Grantor accruing thereunder or pertaining thereto;

(v) any and all claims for damages and injunctive relief for past, present and future infringement, dilution, misappropriation, violation, misuse or breach with respect to any of the foregoing, with the right, but not the obligation, to sue for and collect, or otherwise recover, such damages; and

(vi) any and all proceeds of, collateral for, income, royalties and other payments now or hereafter due and payable with respect to, and supporting obligations relating to, any and all of the Collateral of or arising from any of the foregoing;

provided that notwithstanding anything to the contrary contained in the foregoing clauses (i) through (vi), the security interest created hereby shall not extend to, and the term “Collateral” shall not include, any Excluded Property.

SECTION 2. Security for Obligations. The grant of a security interest in, the Collateral by each Grantor under this IP Security Agreement secures the payment of all Secured Obligations of such Grantor now or hereafter existing under or in respect of the Secured Documents (as such Secured Documents may be amended, amended and restated, supplemented, replaced, refinanced or otherwise modified from time to time (including any increases of the principal amount outstanding thereunder)). Without limiting the generality of the foregoing, this IP Security Agreement secures, as to each Grantor, the payment of all amounts that constitute part of the Secured Obligations that would be owed by such Grantor to any Secured Party under the Secured Documents but for the fact that they are unenforceable or not allowable due to the existence of a bankruptcy, or reorganization or similar proceeding involving a Grantor.

SECTION 3. Recordation. Each Grantor authorizes and requests that the Register of Copyrights, the Commissioner for Patents and the Commissioner for Trademarks and any other applicable U.S. federal government officer record this IP Security Agreement.

SECTION 4. Execution in Counterparts. This IP Security Agreement may be executed in any number of counterparts, each of which when so executed shall be deemed to be an original and all of which taken together shall constitute one and the same agreement.

SECTION 5. Grants, Rights and Remedies. This IP Security Agreement has been entered into in conjunction with the provisions of the Security Agreement. Each Grantor does hereby acknowledge and confirm that the grant of the security interest hereunder to, and the rights and remedies of, the Collateral Agent with respect to the Collateral are more fully set forth in the Security Agreement, the terms and provisions of which are incorporated herein by reference as if fully set forth herein. In the event of any conflict between the terms of this IP Security Agreement and the terms of the Security Agreement, the terms of the Security Agreement shall govern.


SECTION 6. Governing Law; Jurisdiction; Etc. (a) THIS IP SECURITY AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK.

(b) EACH PARTY HERETO IRREVOCABLY AND UNCONDITIONALLY SUBMITS, FOR ITSELF AND ITS PROPERTY, TO THE EXCLUSIVE JURISDICTION OF THE COURTS OF THE STATE OF NEW YORK SITTING IN THE STATE, COUNTY AND CITY OF NEW YORK AND OF THE UNITED STATES FOR THE SOUTHERN DISTRICT OF NEW YORK, AND ANY APPELLATE COURT FROM ANY THEREOF, IN ANY ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO THIS IP SECURITY AGREEMENT, AND EACH OF THE PARTIES HERETO IRREVOCABLY AND UNCONDITIONALLY AGREES THAT ALL CLAIMS IN RESPECT OF ANY SUCH ACTION OR PROCEEDING MAY BE HEARD AND DETERMINED IN SUCH NEW YORK STATE COURT OR, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, IN SUCH FEDERAL COURT. EACH OF THE PARTIES HERETO AGREES THAT A FINAL JUDGMENT IN ANY SUCH ACTION OR PROCEEDING SHALL BE CONCLUSIVE AND MAY BE ENFORCED IN OTHER JURISDICTIONS BY SUIT ON THE JUDGMENT OR IN ANY OTHER MANNER PROVIDED BY LAW. NOTHING IN THIS IP SECURITY AGREEMENT SHALL AFFECT ANY RIGHT THAT ANY SECURED PARTY MAY OTHERWISE HAVE TO BRING ANY ACTION OR PROCEEDING RELATING TO THIS IP SECURITY AGREEMENT AGAINST HOLDINGS, THE ISSUERS OR ANY OTHER GRANTOR OR ITS PROPERTIES IN THE COURTS OF ANY JURISDICTION.

(c) EACH PARTY HERETO IRREVOCABLY AND UNCONDITIONALLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY OBJECTION THAT IT MAY NOW OR HEREAFTER HAVE TO THE LAYING OF VENUE OF ANY ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO THIS IP SECURITY AGREEMENT IN ANY COURT REFERRED TO IN PARAGRAPH (b) OF THIS SECTION. EACH OF THE PARTIES HERETO HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, THE DEFENSE OF AN INCONVENIENT FORUM TO THE MAINTENANCE OF SUCH ACTION OR PROCEEDING IN ANY SUCH COURT.

(d) EACH PARTY HERETO IRREVOCABLY CONSENTS TO SERVICE OF PROCESS IN THE MANNER PROVIDED FOR NOTICES IN SECTION 12.8 OF THE EURO NOTES INDENTURE. NOTHING IN THIS IP SECURITY AGREEMENT WILL AFFECT THE RIGHT OF ANY PARTY HERETO TO SERVE PROCESS IN ANY OTHER MANNER PERMITTED BY APPLICABLE LAW.

(e) EACH PARTY TO THIS IP SECURITY AGREEMENT HEREBY EXPRESSLY WAIVES ANY RIGHT TO TRIAL BY JURY OF ANY CLAIM, DEMAND, ACTION OR CAUSE OF ACTION ARISING UNDER THIS IP SECURITY AGREEMENT OR IN ANY WAY CONNECTED WITH OR RELATED OR INCIDENTAL TO THE


DEALINGS OF THE PARTIES HERETO OR ANY OF THEM WITH RESPECT TO THIS IP SECURITY AGREEMENT, OR THE TRANSACTIONS RELATED THERETO, IN EACH CASE WHETHER NOW EXISTING OR HEREAFTER ARISING, AND WHETHER FOUNDED IN CONTRACT OR TORT OR OTHERWISE; AND EACH PARTY HEREBY AGREES AND CONSENTS THAT ANY SUCH CLAIM, DEMAND, ACTION OR CAUSE OF ACTION SHALL BE DECIDED BY COURT TRIAL WITHOUT A JURY, AND THAT ANY PARTY TO THIS AGREEMENT MAY FILE AN ORIGINAL COUNTERPART OR A COPY OF THIS SECTION 6(e) WITH ANY COURT AS WRITTEN EVIDENCE OF THE CONSENT OF THE SIGNATORIES HERETO TO THE WAIVER OF THEIR RIGHT TO TRIAL BY JURY.


IN WITNESS WHEREOF, each Grantor and the Collateral Agent have caused this IP Security Agreement to be duly executed and delivered by its officer thereunto duly authorized as of the date first written above.

 

U.S. COATINGS IP CO. LLC
By:  

/s/ Martin Sumner

Name:   Martin Sumner
Title:   President

 

[Signature Page to IP Security Agreement]


WILMINGTON TRUST, NATIONAL ASSOCIATION, as Collateral Agent
By:  

/s/ Joseph P. O’Donnell

Name:   Joseph P. O’Donnell
Title:   Vice President

 

[Signature Page to IP Security Agreement]


Dates Referenced Herein   and   Documents Incorporated by Reference

This ‘S-1’ Filing    Date    Other Filings
Filed on:8/20/14None on these Dates
2/1/13
 List all Filings


8 Subsequent Filings that Reference this Filing

  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

 2/15/24  Axalta Coating Systems Ltd.       10-K       12/31/23  135:16M
 2/16/23  Axalta Coating Systems Ltd.       10-K       12/31/22  134:18M
 2/18/22  Axalta Coating Systems Ltd.       10-K       12/31/21  136:18M
 2/18/21  Axalta Coating Systems Ltd.       10-K       12/31/20  136:19M
11/04/14  SEC                               UPLOAD10/06/17    1:39K  Axalta Coating Systems Ltd.
10/21/14  SEC                               UPLOAD10/06/17    1:136K Axalta Coating Systems Ltd.
10/09/14  SEC                               UPLOAD10/06/17    1:173K Axalta Coating Systems Ltd.
 9/17/14  SEC                               UPLOAD10/06/17    1:209K Axalta Coating Systems Ltd.
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Filing Submission 0001193125-14-315910   –   Alternative Formats (Word / Rich Text, HTML, Plain Text, et al.)

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