Company: ATLN
Filing Date: 2025-01-24
Form Type: 424B3
Source: 0001213900-25-006537
Chunk: 496

Company: ATLANTIC INTERNATIONAL CORP.
Filing Date: 2025-01-24
Form: 424B3
Chunk 496
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 which the Company is a party, and the consummation of the transactions contemplated hereby and thereby, do not and will not (a) violate any law or order to which the Company is subject or by which the Company is bound, (b) require the Company to obtain any consent or approval of, or give any notice to, or make any filing with, any governmental authority, or (c) result in a violation or breach of (with or without due notice or lapse of time or both), or require any notice to or consent or approval of any third party to, any contract to which the Company is a party or by which the Company is bound. 4. Release of Security Interest . At the Effective Time, the security interest granted to Jackson pursuant to the Security Instruments and the guarantee of the obligations of the Company to Jackson under the Jackson Notes and the Note Documents under the Guarantee, and all other obligations of the Company and the Guarantors under the Security Instruments and the Guarantee are hereby expressly and unconditionally released and terminated in all respects with no further consent or action required on the part of any person, and such Security Instruments and the Guarantee shall be terminated and no longer considered of any force and effect. Jackson further agrees that there is no obligation of the Company or any Guarantor to enter into a replacement agreement with respect to such documents or the security interest created thereby. The parties hereto further agree to promptly prepare, execute, deliver and file or authorize for filing all documents and other instruments necessary to effectuate such release and termination, including, without limitation, UCC-3 termination statements and Jackson hereby authorizes the Company and the Guarantors to file and/or record any such UCC-3 termination statements. Annex C-2 5. Acknowledgement . Notwithstanding anything to the contrary contained in the Jackson Notes, the Guarantee or the Security Instruments, Jackson hereby expressly agrees and acknowledges that upon the effectiveness of the conversions described in section 2 above and the closing of the merger transaction pursuant to the Merger Agreement, all obligations of the Company under the Jackson Notes, the Guarantee and the Security Instruments shall be considered satisfied or waived, as applicable, after which the Company and the Guarantors shall have no further obligations under the Jackson Notes, the Guarantee and the Security Instruments and the other Note Documents whatsoever and the Jackson Notes, the Guarantee and the Security Instruments and the other Note Documents shall be considered satisfied in full and terminated and will no longer have any binding effect on the Company or any Guarantor. 6. Enforcement