Document:

Exhibit 10.4

 

EXECUTION VERSION

 

SECURITY AGREEMENT

 

 

This Security
Agreement (“Security Agreement”) is made June 18, 2013, between OP-TECH Environmental
Services, Inc., a Delaware corporation (“Debtor”), and Accord Financial, Inc., a Delaware corporation (“Secured
Party”).

 

This Security Agreement
is entered into in connection with (check applicable items):

 

 ̈
(i)a Loan Agreement (“Loan Agreement”)  under which the Secured Party has agreed to make a loan to Debtor;

 

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(ii)promissory note dated June ____, 2013 (including all extensions, renewals, modifications and substitutions thereof, collectively
the “Note”) of the Debtor (in this capacity, the “Borrower”), in the maximum principal amount of $_____________
(Equipment Term Loan);

 

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(iii)a Master Purchase and Sale Agreement executed by the Debtor and Secured Party dated on or about May 30, 2013 (the “Master
Agreement”);

 

 ̈
(iv)a control agreement covering the Debtor’s, Borrower’s, or any Guarantor’s Deposit Account(s), Investment
Property, Letter-of-Credit Rights, or Electronic Chattel Paper dated on or about the same date as this Security Agreement executed
by the Debtor, the Borrower, and any such Guarantor;

 

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(v)the sale by Debtor and purchase by Secured Party of Accounts, Chattel Paper, Payment Intangibles and/or Promissory Notes;
and/or

 

 ̈
(vi)_______________________________________________________________________.

 

Secured Party
and Debtor agree as follows:

 

I.DEFINITIONS.

 

1.1Collateral. Unless
specific items of personal property are described below, the Collateral shall consist of all now owned and hereafter acquired and
wherever located personal property of Debtor identified below, each capitalized term as defined in Article 9 of the South Carolina
Uniform Commercial Code (“UCC”)(check applicable items):

 

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(i)Accounts, including but not limited to all contract rights and health-care-insurance receivables and Reserves, as defined
in the Master Agreement;

 ̈(i-a)The
Account(s), contract right(s) and/or Health-Care-Insurance Receivables specifically described as follows:

.

 

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(ii)Inventory, including but not limited to all returned inventory;

 ̈(ii-a)
The Inventory specifically described as follows:

.

 

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(iii)Equipment, including but not limited to all Accessions thereto, and all manufacturer’s warranties, parts and tools
therefor;

 ̈(iii-a)The
Equipment, including all Accessions thereto, all manufacturer’s warranties therefor, and all parts and tools therefor, specifically
described as follows:

.

 

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(iv)Investment Property, including but not limited to the following certificated securities and/or securities account(s) specifically
described as follows:

.

 

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(v)Instruments, including but not limited to all promissory notes and certificated certificates of deposit specifically described
as follows:

.

 

 ̈
(vi)Deposit Accounts with Secured Party specifically described below (list account number(s)):

 ̈
(vi-a) The Deposit Accounts with other financial institutions specifically described as follows (list financial institution and
account numbers):

.

 

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(vii)Chattel Paper (whether tangible or electronic);

 ̈(vii-a)The
Chattel Paper specifically described as follows:

.

 

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(viii)Goods, including but not limited to the following:.

 

 ̈
(ix)Farm Products, including all crops grown, growing or to be grown, livestock (born and unborn), supplies used or produced
in a farming operation, and products of crops and livestock;

 ̈(ix-a)The
Farm Products specifically described as follows:

.

 

 ̈
(x)As-Extracted Collateral from the following location(s) (list legal description including county

and state):

.

 

 ̈
(xi)The Letter-of-Credit Rights under the following letter(s) of credit (list issuer, number and amount):

.

 

 ̈
(xii)Documents of Title, including but not limited to all warehouse receipts and bills of lading specifically described as
follows:

.

 ̈
(xiii)Commercial Tort Claim(s) more specifically described as follows:

.

 

 ̈
(xiv) Money, including but not limited to currency and/or rare coins delivered to and in possession of the Secured Party specifically
described as follows:

.

 

 ̈
(xv) Software specifically described as follows:

.

    	 

    	 

    

 

 ̈
(xvi) Manufactured Home(s):

 

	
         

        Model
	
         

        Year
	
         

        Serial Number 1
	
        Doublewide

        Serial Number 2

	1.	 	 	 
	2.	 	 	 

 

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(xvii) Vehicles, including recreational vehicles and watercraft described as follows: See Exhibit A attached hereto and
incorporated herein.

 

ý(xviii)General
intangibles, including but not limited to all Payment Intangibles, tax refunds, company records (paper and electronic), rights
under equipment leases, warranties, software licenses, but excluding copyrights, trademarks, patents, and tradenames.

			

ý(xix)
Supporting Obligations.

 

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(xx) to the extent not listed above as original collateral, all proceeds (cash, insurance, and non-cash) and products of the foregoing.

 

1.2Obligations. This Security
Agreement secures the following (collectively, the “Obligations”):

 

(i)Debtor’s
or Borrower’s obligations under the Note, the Agreement, the Master Agreement and this Security Agreement, and in addition
to the foregoing obligations, if the Debtor is a Guarantor, its obligations under its Guaranty;

 

(ii)all
of Debtor’s or Borrower’s present and future indebtedness and obligations to Secured Party;

 

(iii)the
repayment of (a) any amounts that Secured Party may advance or spend for the maintenance or preservation of the Collateral, and
(b) any other expenditures that Secured Party may make under the provisions of this Security Agreement or for the benefit of Debtor
or Borrower;

 

(iv)all
amounts owed under any modifications, renewals, extensions or substitutions of any of the foregoing obligations;

 

(v)all Default
Costs, as defined in Paragraph VIII of this Security Agreement; and

 

(vi)any
of the foregoing that may arise after the filing of a petition by or against Debtor or Borrower under the Bankruptcy Code, even
if the obligations do not accrue because of the automatic stay under Bankruptcy Code § 362 or otherwise.

 

This Security Agreement does not secure any
obligations described above which are secured by consensual liens on real property.

 

1.3UCC Definitions.
 Any term used in the UCC and not otherwise defined in this Security Agreement has the meaning given to the term in the UCC.

 

II.GRANT OF SECURITY INTEREST.

 

Debtor grants a security interest
in the Collateral to Secured Party to secure the payment and performance of the Obligations.

 

III.PERFECTION OF SECURITY INTERESTS.

 

3.1Filing of Security
Interests.

 

(i)Debtor
authorizes Secured Party to execute on the Debtor’s behalf and file any financing statement (the “Financing Statement”)
describing the Collateral in any location deemed necessary and appropriate by Secured Party.

 

(ii)Debtor
authorizes Secured Party to file a Financing Statement describing any agricultural liens or other statutory liens held by Secured
Party.

 

(iii)Secured
Party shall receive prior to the closing an official report from the Secretary of State of each Place of Business and the Debtor
State, each as defined below, collectively (the “Filing Reports”) indicating that Secured Party’s security interest
is prior to all other security interests or other interests reflected in the report.

 

3.2Possession.

 

(i)Debtor
shall have possession of the Collateral, except where expressly otherwise provided in this Security Agreement or where Secured
Party chooses to perfect its security interest by possession in addition to the filing of a Financing Statement.

 

(ii)Where
Collateral is in the possession of a third party, Debtor will join with Secured Party in notifying the third party of Secured Party’s
security interest and obtaining an acknowledgment from the third party that it is holding the Collateral for the benefit of Secured
Party.

 

		3.3	Control Agreements. Debtor will cooperate with Secured Party in obtaining a control agreement
in form and substance satisfactory to Secured Party with respect to Collateral consisting of (check appropriate items):

 

		 ̈	Deposit Accounts (for deposit accounts at other financial institutions);

 

		 ̈	Investment Property (for securities accounts, mutual funds and other uncertificated securities;

		 ̈	Letter-of-credit rights; and/or

 

		 ̈	Electronic chattel paper.

 

		3.4	Marking of Chattel Paper. If Chattel Paper is part of the Collateral, Debtor will not create
any Chattel Paper without placing a legend on the Chattel Paper acceptable to Secured Party indicating that Secured Party has a
security interest in the Chattel Paper.

 

IV.POST-CLOSING COVENANTS AND RIGHTS
CONCERNING THE COLLATERAL.

 

		4.1	Inspection. The parties to this Security Agreement may inspect any Collateral in the other
party’s possession, at any time upon reasonable notice.

 

		4.2	Personal Property. Except for items specifically identified by Debtor and Secured Party
as Fixtures, the Collateral shall remain personal property at all times, and Debtor shall not affix any of the Collateral to any
real property in any manner which would change its nature from that of personal property to real property or to a fixture.

 

		4.3	Secured Party’s Collection Rights. Secured Party shall have the right at any time
to enforce Debtor’s rights against any account debtors and obligors.

 

		4.4	Limitations on Obligations Concerning Maintenance of Collateral.

 

(i)Risk of Loss.
Debtor has the risk of loss of the Collateral.

 

(ii)No
Collection Obligation. Secured Party has no duty to collect any income accruing on the Collateral or to preserve any rights
relating to the Collateral.

 

4.5No Disposition of Collateral.
Secured Party does not authorize, and Debtor agrees not to:

 

(i)make
any sales or leases of any of the Collateral except with respect to inventory in the ordinary course of business;

 

(ii)license
any of the Collateral; or

 

(iii)grant
any other security interest in any of the Collateral.

 

		4.6	Purchase Money Security Interests. To the extent Debtor uses the Loan to purchase Collateral,
Debtor’s repayment of the Loan shall apply on a “first-in-first-out” basis so that the portion of the Loan used
to purchase a particular item of Collateral shall be paid in the chronological order the Debtor purchased the Collateral.

 

4.7Insurance.
Debtor shall obtain and keep in force such insurance on the Collateral as is normal and customary in the Debtor’s business
or as the Secured Party may require, all in such amounts, under such forms of policies, upon such terms, for such periods and written
by such insurance companies as the Secured Party may approve. All policies of insurance will contain the long-form Lender’s
Loss Payable clause in favor of the Secured Party, and the Debtor shall deliver the policies or complete copies thereof to the
Secured Party. Such policies shall be noncancellable except upon thirty (30) days’ prior written notice to the Secured Party.
The proceeds of all such insurance, if any loss should occur, may be applied by the Secured Party to the payment of the Obligations
or to the replacement of any of the Collateral damaged or destroyed, as the Secured Party may elect or direct in its sole discretion.
The Debtor hereby appoints (which appointment constitutes a power coupled with an interest and is irrevocable as long as any of
the Obligations remain outstanding) Secured Party as its lawful attorney-in-fact with full authority to make, adjust, settle claims
under and/or cancel such insurance and to endorse the Debtor’s name on any instruments or drafts issued by or upon any insurance
companies.

 

V.DEBTORS REPRESENTATIONS AND WARRANTIES.

 

Debtor represents and warrants
to Secured Party:

 

		5.1	Title to and transfer of Collateral. It has rights in or the power to transfer the Collateral
and its title to the Collateral is free of all adverse claims, liens, security interests and restrictions on transfer or pledge
except as created by this Security Agreement.

 

		5.2	Location of Collateral. All collateral consisting of goods (equipment, inventory, fixtures,
crops, unborn young of animals, timber to be cut, manufactured homes; and other tangible, movable personal property) is located
solely in the following States (the “Collateral States”):

.

 

5.3Location, State
of Incorporation and Name of Debtor. Debtor’s:

 

(i)chief
executive office (if Debtor has more than one place of business), place of business (if Debtor has one place of business), or principal
residence (if Debtor is an individual), is located in the following State and address (the “Place of Business”):

 

 

(ii)state
of incorporation or organization is Delaware (the “Debtor State”);

 

(iii)exact
legal name is as set forth in the first paragraph of this Security Agreement.

 

5.4Business
Purpose. None of the Obligations is a Consumer Transaction, as defined in the UCC and none of the Collateral has been or will
be purchased or held primarily for personal, family or household purposes.

 

VI.DEBTOR’S COVENANTS.

 

Until the Obligations are
paid in full, Debtor agrees that it will:

 

		6.1	preserve its legal existence and not, in one transaction or a series of related transactions, merge
into or consolidate with any other entity, or sell all or substantially all of its assets;

 

		6.2	not change the Debtor State of its registered organization;

 

		6.3	not change its registered name without providing Secured Party with 30 days’ prior written
notice; and

 

		6.4	not change the state of its Place of Business or, if Debtor is an individual, change his state
of residence without providing Secured Party with 30 days’ prior written notice.

 

VII.EVENTS OF DEFAULT.

 

The occurrence of any of the following
shall, at the option of Secured Party, be an Event of Default:

 

		7.1	Any default or Event of Default by Borrower or Debtor under the Note, Agreement, Master Agreement,
any of the other loan documents, and Guaranty or any of the other Obligations;

 

		7.2	Debtor’s failure to comply with any of the provisions of, or the incorrectness of any representation
or warranty contained in, this Security Agreement, the Note, the Agreement, or in any other document relating to the Obligations;

 

		7.3	Transfer or disposition of any of the Collateral, except as expressly permitted by this Security
Agreement;

 

		7.4	Attachment, execution or levy on any of the Collateral;

 

		7.5	Debtor voluntarily or involuntarily becoming subject to any proceeding under (a) the Bankruptcy
Code or (b) any similar remedy under state statutory or common law;

 

		7.6	Debtor shall fail to comply with, or become subject to any administrative or judicial proceeding
under any federal, state or local (a) hazardous waste or environmental law, (b) asset forfeiture or similar law which can
result in the forfeiture of property, or (c) other law, where noncompliance may have any significant effect on the Collateral;
or

 

		7.7	Secured Party shall receive at any time following the closing a UCC filing report indicating that
Secured Party’s security interest is not prior to all other security interests or other interests reflected in the report.

 

VIII.DEFAULT COSTS.

 

		8.1	Should an Event of Default occur, Debtor will pay to Secured Party all costs incurred by the Secured
Party for the purpose of enforcing its rights hereunder, including:

 

(i)costs of foreclosure;

 

(ii)costs
of obtaining money damages; and

 

(iii)a reasonable
fee for the service of attorneys employed by Secured Party for any purpose related to this Security Agreement or the Obligations,
including without limitation consultation, drafting documents, sending notices or instituting, prosecuting or defending litigation
or arbitration.

 

IX.REMEDIES UPON DEFAULT.

 

		9.1	General. Upon any Event of Default, Secured Party may pursue any remedy available at law
(including those available under the provisions of the UCC), or in equity to collect, enforce or satisfy any Obligations then owing,
whether by acceleration or otherwise.

 

		9.2.	Concurrent Remedies. Upon any Event of Default, Secured Party shall have the right to pursue
any of the following remedies separately, successively or concurrently:

 

(i)File
suit and obtain judgment and, in conjunction with any action, Secured Party may seek any ancillary remedies provided by law or
at equity, including levy of attachment and garnishment.

 

(ii)Take
possession of any Collateral if not already in its possession without demand and without legal process. Upon Secured Party’s
demand, Debtor will assemble and make the Collateral available to Secured Party as it directs. Debtor grants to Secured Party the
right, for this purpose, to enter into or on any premises where Collateral may be located.

 

(iii)Without
taking possession, sell, lease or otherwise dispose of the Collateral at public or private sale in accordance with the UCC.

 

X.FORECLOSURE PROCEDURES. 

 

		10.1	No Waiver. No delay or omission by Secured Party to exercise any right or remedy accruing
upon any Event of Default shall (a) impair any right or remedy, (b) waive any default or operate as an acquiescence to the Event
of Default, or (c) affect any subsequent default of the same or of a different nature.

 

		10.2	Notices. Secured Party shall give Debtor such notice of any private or public sale as may
be required by the UCC.

 

		10.3	Condition of Collateral. Secured Party has no obligation to repair, clean-up or otherwise
prepare the Collateral for sale.

 

		10.4	No Obligation to Pursue Others.  Secured Party has no obligation to attempt to satisfy the
Obligations by collecting them from any other person liable for them and Secured Party may release, modify or waive any collateral
provided by any other person to secure any of the Obligations, all without affecting Secured Party's rights against Debtor. Debtor
waives any right it may have to require Secured Party to pursue any third person for any of the Obligations.

 

		10.5	Compliance With Other Laws. Secured Party may comply with any applicable state or federal
law requirements in connection with a disposition of the Collateral and compliance will not be considered adversely to affect the
commercial reasonableness of any sale of the Collateral.

 

		10.6	Warranties. Secured Party may sell the Collateral without giving any warranties as to the
Collateral and may specifically disclaim any warranties of title or the like. This procedure will not be considered adversely to
affect the commercial reasonableness of any sale of the Collateral.

 

		10.7	Sales on Credit. If Secured Party sells any of the Collateral upon credit, Debtor will be
credited only with payments actually made by the purchaser, received by Secured Party and applied to the indebtedness of the purchaser.
In the event the purchaser fails to pay for the Collateral, Secured Party may resell the Collateral and Debtor shall be credited
with the proceeds of the sale as and when received, less expenses.

 

		10.8	Purchases by Secured Party. In the event Secured Party purchases any of the Collateral being
sold, Secured Party may pay for the Collateral by crediting some or all of the Obligations of the Debtor.

 

		10.9	No Marshalling. Secured Party has no obligation to marshal any assets in favor of Debtor,
or against or in payment of:

 

(i)the Note,
or

 

(ii)any
of the other Obligations, or

 

(iii)any
other obligation owed to Secured Party, Borrower or any other person.

 

XI.MISCELLANEOUS.

 

11.1Assignment.

 

(i)Binds
Assignees. This Security Agreement shall bind and shall inure to the benefit of the successors and assigns of Secured Party,
and shall bind all heirs, personal representatives, executors, administrators, successors and permitted assigns of Debtor.

 

(ii)No
Assignments by Debtor. Secured Party does not consent to any assignment by Debtor except as expressly provided in this Security
Agreement.

 

(iii)Secured
Party Assignments. Secured Party may assign its rights and interests under this Security Agreement. If an assignment is made,
Debtor shall render performance under this Security Agreement to the assignee. Debtor waives and will not assert against any assignee
any claims, defenses or set-offs which Debtor could assert against Secured Party except defenses which cannot be waived.

 

		11.2	Severability. Should any provision of this Security Agreement be found to be void, invalid
or unenforceable by a court or panel of arbitrators of competent jurisdiction, that finding shall only affect the provisions found
to be void, invalid or unenforceable and shall not affect the remaining provisions of this Security Agreement.

 

		11.3	Notices. Any notices required by this Security Agreement shall be deemed to be delivered
when a record has been (a) deposited in any United States postal box if postage is prepaid, and the notice properly addressed to
the intended recipient, (b) received by telecopy, (c) received through the Internet, and (d) when personally delivered.

 

		11.4	Headings. Section headings used in this Security Agreement are for convenience only. They
are not a part of this Security Agreement and shall not be used in construing it.

 

		11.5	Governing Law. This Security Agreement is being executed and delivered and is intended to
be performed in the State of South Carolina and shall be construed and enforced in accordance with the laws of the State of South
Carolina except to the extent that the UCC provides for the application of the law of the Debtor State.

 

11.6Rules of Construction.

 

(i)No reference
to “proceeds” in this Security Agreement authorizes any sale, transfer, or other disposition of the Collateral by the
Debtor except in the ordinary course of business.

 

(ii)“Includes”
and “including” are not limiting.

 

(iii)“Or”
is not exclusive.

 

(iv)“All”
includes “any” and “any” includes “all.”

 

11.7Integration
and Modifications.

 

(i)This
Security Agreement is the entire agreement of the Debtor and Secured Party concerning its subject matter.

 

(ii)Any
modification to this Security Agreement must be made in writing and signed by the party adversely affected.

 

		11.8	Waiver. Any party to this Security Agreement may waive the enforcement of any provision
to the extent the provision is for its benefit.

 

		11.9	Further Assurances. Debtor agrees to execute any further documents, and to take any further
actions, reasonably requested by Secured Party to evidence or perfect the security interest granted herein or to effectuate the
rights granted to Secured Party herein.

 

 

    	 

    	 

    

 

The parties have signed
this Security Agreement under seal as of the day and year first above written.

 

WITNESS:                                                               Debtor:

 

/s/ Daniel
P. George                                       
     OP-TECH Environmental Services, Inc. (SEAL)

Print Name: Daniel P. George

By:/s/
Charles B. Morgan

Print Name/Title: Charles B. Morgan, CEO

 

 

Secured Party:

 

Accord Financial, Inc.
(SEAL)

 

 

/s/
Marilyn Batson                                                     By:/s/
Matthew Panosian

Print
Name: Marilyn Batson                                            Print Name/Title: Matthew Panosian / SVP

 

 

 

			

    	 

    	 

    

Exhibit
A

 

(Description
of Vehicles)4.1 - Viper Amendment

EXHIBIT 4.1
		
	To:
	Virgin Media Investment Holdings Limited (the Company)  
for itself and as agent for each of the other Obligors  
party to the Agreement (as defined below)

14 June 2013
Dear Sirs,
£1,635,000,000 and US$2,755,000,000 credit agreement (the Agreement) dated 7 June 2013 and made between, amongst others, the Company and Credit Suisse AG, London Branch and Credit Suisse AG, Cayman Islands Branch each as facility agent
		
	1.
	Background

		
	(a)
	This letter is supplemental to and amends the Agreement.

		
	(b)
	Pursuant to clause 41 (Amendments) of the Agreement, the Instructing Group has consented to the amendments to the Agreement contemplated by this letter.  Accordingly, we are authorised to execute this letter on behalf of the Relevant Finance Parties.

		
	2.
	Interpretation

		
	(a)
	Capitalised terms defined in the Agreement have the same meaning when used in this letter unless expressly defined in this letter.

		
	(b)
	The provisions of clause 1.3 (Construction) of the Agreement apply to this letter as though they were set out in full in this letter except that references to the Agreement are to be construed as references to this letter.

		
	(c)
	Effective Date means the date on which the Company countersigns this letter.

		
	3.
	Amendments

		
	(a)
	The Agreement will be amended from the Effective Date in accordance with subparagraph (c) below.

		
	(b)
	 The Agreement will be amended as follows:

		
	(i)
	the definition of “Finance Parties” will be amended to add the words “, the holders of any Senior Secured Notes and the trustees and/or agents in respect of any Senior Secured Notes” immediately following the words “Hedge Counterparty”; and

		
	(ii)
	each reference to “Finance Party” and “Finance Parties” in the Agreement will be amended to insert the word “Relevant” immediately before the word “Finance”, other than:

		
	(A)
	the definition of “Finance Parties”; and

		
	(B)
	each reference to “Senior Finance Party”.

		
	4.
	Miscellaneous

		
	(a)
	This letter is a Relevant Finance Document.

		
	(b)
	From the Effective Date, the Agreement and this letter will be read and construed as one document.

		
	(c)
	Except as otherwise provided in this letter, the Finance Documents remain in full force and effect.

		
	5.
	Governing law

This letter and any non-contractual obligations arising out of or in connection with it are governed by English law.
If you agree to the terms of this letter, please sign where indicated below.

Yours faithfully,

Authorized Signatory                                        Authorized Signatory              
Name:                        Name: 
Title:                        Title:

For
CREDIT SUISSE AG, LONDON BRANCH 
as Facility Agent for and on behalf of the other Finance Parties

Authorized Signatory                                            Authorized Signatory              
Name:                        Name:     
Title:                        Title:

For
CREDIT SUISSE AG, CAYMAN ISLANDS BRANCH
as Facility Agent for and on behalf of the other Finance Parties

FORM OF ACKNOWLEDGEMENT
We agree to the terms of this letter.

Authorized Signatory              

For
VIRGIN MEDIA INVESTMENT HOLDINGS LIMITED 
for itself and as agent for the other Obligors
Date:

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