Document:

Exhibit 10.29

 

EXECUTION VERSION

 

FIRST LIEN INDENTURE JOINDER — CASH FLOW INTERCREDITOR AGREEMENT

 

JOINDER, dated as of December 4, 2014, among Bank of America, N.A., in its capacity as collateral agent (together with its successors and assigns in such capacity from time to time, and as further defined in the Intercreditor Agreement, the “Term Agent”) for the Term Creditors, Wilmington Trust, National Association, in its capacity as collateral agent (together with its successors and assigns in such capacity from time to time, and as further defined in the Intercreditor Agreement, the “First Lien Note Agent”) for the First Lien Noteholder Secured Parties, Wilmington Trust, National Association, in its capacity as collateral agent (together with its successors and assigns in such capacity from time to time, and as further defined in the Intercreditor Agreement, the “Second Lien Note Agent”) for the Second Lien Noteholder Secured Parties, and Wilmington Trust, National Association, in its capacity as collateral agent for the Joining First Lien Noteholder Secured Parties (as defined herein) and any successors or assigns thereof, to the Cash Flow Intercreditor Agreement dated as of April 12, 2012 (as amended, supplemented, waived or otherwise modified from time to time, the “Intercreditor Agreement”) among the Term Agent, the First Lien Note Agent and the Second Lien Note Agent.  Capitalized terms used herein and not otherwise defined herein shall have the meaning specified in the Intercreditor Agreement.

 

Reference is made to that certain Indenture, dated as of December 4, 2014 (the “Joining First Lien Indenture”), among the Company, the Subsidiary Guarantors (as defined in the Joining First Lien Indenture) party thereto, Wilmington Trust, National Association, as trustee thereunder (the “Trustee”) and Wilmington Trust, National Association (the “Joining First Lien Note Agent”), as collateral agent for the Holders (as defined in the Joining First Lien Indenture), the Trustee and the other secured parties under the Joining First Lien Indenture and the Note Security Documents (as defined in the Joining First Lien Indenture) (such Holders, Trustee and other secured parties, the “Joining First Lien Noteholder Secured Parties”).

 

The Joining First Lien Note Agent, for itself and on behalf of the Joining First Lien Noteholder Secured Parties, hereby agrees with the Company and the other Grantors, the First Lien Note Agent and any other Additional Agent party to the Intercreditor Agreement as follows:

 

Section 1.  Agreement to be Bound.  The Joining First Lien Note Agent, for itself and on behalf of the Joining First Lien Noteholder Secured Parties, hereby agrees to be bound by the terms and provisions of the Intercreditor Agreement and shall, as of the date hereof, be deemed to be a party to the Intercreditor Agreement as the First Lien Note Agent.  As of the date hereof, the Joining First Lien Indenture shall be deemed the First Lien Indenture under the Intercreditor Agreement, and the obligations thereunder are subject to the terms and provisions of the Intercreditor Agreement.

 

Section 2.  Notices.  Notices and other communications provided for under the Intercreditor Agreement to be provided to the Joining First Lien Note Agent shall be sent to the address set forth on Annex 1 attached hereto (until notice of a change thereof is delivered as provided in Section 7.5 of the Intercreditor Agreement).

 

 

Section 3.  Miscellaneous.  THIS JOINDER SHALL BE CONSTRUED AND ENFORCED IN ACCORDANCE WITH AND GOVERNED BY THE LAW OF THE STATE OF NEW YORK WITHOUT REFERENCE TO ITS CONFLICT OF LAWS PRINCIPLES TO THE EXTENT THAT THE SAME ARE NOT MANDATORILY APPLICABLE BY STATUTE AND WOULD PERMIT OR REQUIRE THE APPLICATION OF LAWS OF ANOTHER JURISDICTION.

 

[Signature pages follow]

 

2

 

IN WITNESS WHEREOF, the Term Agent, for and on behalf of itself and the Term Creditors, the First Lien Note Agent, for and on behalf of itself and the First Lien Noteholder Secured Parties, the Second Lien Note Agent, for and on behalf of itself and the Second Lien Noteholder Secured Parties and the Joining First Lien Note Agent, for and on behalf of itself and the Joining First Lien Noteholder Secured Parties, have caused this Joinder to be duly executed and delivered as of the date first above written.

 

	
 
    	
BANK   OF AMERICA, N.A.,
    
	
 
    	
as   Term Agent
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Justin Neubauer
    
	
 
    	
 
    	
Name:   Justin Neubauer
    
	
 
    	
 
    	
Title:   Director
    

 

[Signature Page to First Lien Indenture Joinder — Cash Flow Intercreditor Agreement]

 

 

	
 
    	
WILMINGTON   TRUST, NATIONAL ASSOCIATION,
    
	
 
    	
as   First Lien Note Agent
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Lynn M. Steiner
    
	
 
    	
 
    	
Name:   Lynn M. Steiner
    
	
 
    	
 
    	
Title:   Vice President
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
WILMINGTON   TRUST, NATIONAL ASSOCIATION,
    
	
 
    	
as   Second Lien Note Agent
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Lynn M. Steiner
    
	
 
    	
 
    	
Name:   Lynn M. Steiner
    
	
 
    	
 
    	
Title:   Vice President
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
WILMINGTON   TRUST, NATIONAL ASSOCIATION,
    
	
 
    	
as   Joining First Lien Note Agent
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Lynn M. Steiner
    
	
 
    	
 
    	
Name:   Lynn M. Steiner
    
	
 
    	
 
    	
Title:   Vice President
    

 

[Signature Page to First Lien Indenture Joinder — Cash Flow Intercreditor Agreement]

 

 

ANNEX 1

 

Wilmington Trust, National Association

50 S. 6th Street, Suite 1290

Minneapolis, Minnesota 55402

Attention: HD Supply Account Manager

Facsimile: (612) 217-5651

Telephone: (612) 217-5667

 

Annex 1 - 1Exhibit 10.30

 

EXECUTION VERSION

 

TERM NOTICE AND CONFIRMATION OF GRANT OF SECURITY INTEREST IN TRADEMARKS

 

THIS NOTICE AND CONFIRMATION OF GRANT OF SECURITY INTEREST IN TRADEMARKS (this “Agreement”), dated as December 4, 2014, is made by each of the signatories hereto (each, a “Grantor”) in favor of BANK OF AMERICA, N.A. (“Bank of America”), as administrative agent and collateral agent for the banks and other financial institutions (the “Lenders”) that are parties to the Credit Agreement (in such capacities, respectively, the “Administrative Agent” and the “Collateral Agent”), dated as of April 12, 2012 (as amended, amended and restated, waived, supplemented or otherwise modified from time to time, together with any agreement extending the maturity of, or restructuring, refunding, refinancing or increasing the Indebtedness under such agreement or successor agreements, the “Credit Agreement”), among HD SUPPLY, INC., a Delaware corporation (the “Borrower”), Bank of America, as administrative agent and collateral agent, and the other parties thereto.

 

WHEREAS, pursuant to the Credit Agreement, the Lenders have severally agreed to make extensions of credit to the Borrower upon the terms and subject to the conditions set forth therein;

 

WHEREAS, in connection with the Credit Agreement, the Borrower and certain Subsidiaries of the Borrower executed and delivered a Collateral Agreement, dated as of April 12, 2012, in favor of Bank of America (as the same may be amended, restated, supplemented, waived or otherwise modified from time to time, the “Collateral Agreement”);

 

WHEREAS, pursuant to the Collateral Agreement, each Grantor granted to the Collateral Agent a security interest in its Intellectual Property, including Trademarks; and

 

WHEREAS, each Grantor has duly authorized the execution, delivery and performance of this Agreement.

 

NOW THEREFORE, for good and valuable consideration, the receipt of which is hereby acknowledged, and in order to induce the Lenders to make extensions of credit to the Borrower on the terms and subject to the conditions of the Credit Agreement, each Grantor agrees, for the benefit of the Collateral Agent, as follows:

 

SECTION 1. Definitions. Unless otherwise defined herein or the context other-wise requires, terms used in this Agreement, including its preamble and recitals, have the meanings provided or provided by reference in the Credit Agreement and the Collateral Agreement.

 

 

SECTION 2. Confirmation of Security Interest. Each Grantor hereby confirms that pursuant to the Collateral Agreement, subject to existing licenses to use the Trademarks granted by such Grantor in the ordinary course of its business, it granted to the Collateral Agent, for the benefit of the Secured Parties, a security interest in all of the Trademarks of such Grantor (including, without limitation, those items listed on Schedule A hereto under such Grantor’s name) and to the extent not otherwise included, all Proceeds and products of any and all of the Trademarks, as collateral security for the prompt and complete payment and performance when due (whether at the stated maturity, by acceleration or otherwise) of the Obligations of such Grantor, except that no security interest is or will be granted pursuant thereto in any right, title or interest of such Grantor under or in any Trademark Licenses with Persons other than the Borrower, a Restricted Subsidiary or an Affiliate thereof for so long as, and to the extent that, the granting of such a security interest pursuant thereto would result in a breach, default or termination of such Trademark Licenses.

 

SECTION 3. Purpose. This Agreement has been executed and delivered by the Grantors for the purpose of recording the security interest granted pursuant to the Collateral Agreement with the United States Patent and Trademark Office. This Agreement is expressly subject to the terms and conditions of the Collateral Agreement. The Collateral Agreement (and all rights and remedies of the Lenders thereunder) shall remain in full force and effect in accordance with its terms.

 

SECTION 4. Acknowledgment. Each Grantor does hereby further acknowledge and affirm that the rights and remedies of the Lenders with respect to the security interest in the Trademarks are fully set forth in the Credit Agreement and the Collateral Agreement, the terms and provisions of which (including the remedies provided for therein) are incorporated by reference herein as if fully set forth herein.

 

SECTION 5. Counterparts. This Agreement may be executed in counterparts, each of which will be deemed an original, but all of which together constitute one and the same original.

 

* * *

 

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK.]

 

 

IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed and delivered by their respective officers thereunto duly authorized as of the day and year first above written.

 

 

	
 
    	
HD   SUPPLY FACILITIES MAINTENANCE, LTD.
    
	
 
    	
By:
    	
HD   Supply GP & Management, Inc.,
    
	
 
    	
 
    	
its   general partner
    
	
 
    	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Ricardo Nuñez
    
	
 
    	
 
    	
Name:
    	
Ricardo   Nuñez
    
	
 
    	
 
    	
Title:
    	
Vice   President and Secretary
    
	
 
    	
 
    	
 
    
	
 
    	
 
    
	
 
    	
HDS   IP HOLDING, LLC
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Ricardo Nuñez 
    
	
 
    	
 
    	
Name:
    	
Ricardo   Nuñez
    
	
 
    	
 
    	
Title:
    	
Vice   President and Secretary
    

 

[SIGNATURE PAGE—TERM NOTICE AND CONFIRMATION OF GRANT OF SECURITY INTEREST IN TRADEMARKS]

 

 

	
 
    	
BANK   OF AMERICA, N.A.,
    
	
 
    	
in   its capacity as Collateral Agent
    
	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/   Mark Kushemba
    
	
 
    	
Name:   Mark Kushemba
    
	
 
    	
Title:   Managing Director
    

 

[SIGNATURE PAGE—TERM NOTICE AND CONFIRMATION OF GRANT OF SECURITY INTEREST IN TRADEMARKS]

 

 

Schedule A

 

Trademarks

 

HD Supply Facilities Maintenance, Ltd.

 

	
TRADEMARK
    	
 
    	
Status
    	
 
    	
Ser. No./Reg.
   No.
    	
 
    	
App. Date/Reg.
   Date
    	
 
    
	
MAINTENANCE   WAREHOUSE
    	
 
    	
Registered
    	
 
    	
RN: 4,610,425
    	
 
    	
9/23/2014
    	
 
    
	
MAINTENANCE   WAREHOUSE
    	
 
    	
Registered
    	
 
    	
RN: 4,375,851
    	
 
    	
7/30/2013
    	
 
    
	
MAINTENANCE   WAREHOUSE & Design
    	
 
    	
Registered
    	
 
    	
RN: 4,376,494
    	
 
    	
7/30/2013
    	
 
    
	
MAINTENANCE WAREHOUSE & Design
    	
 
    	
Registered
    	
 
    	
RN: 4,606,259
    	
 
    	
9/16/2014
    	
 
    

 

HDS IP Holding, LLC

 

	
TRADEMARK
    	
 
    	
Status
    	
 
    	
Ser. No./Reg.
   No.
    	
 
    	
App. Date/Reg.
   Date
    	
 
    
	
ASPEN & Design
    	
 
    	
Registered
    	
 
    	
RN: 4,461,343
    	
 
    	
1/7/2014
    	
 
    
	
CREATIVE TOUCH INTERIORS
    	
 
    	
Registered
    	
 
    	
RN: 4,406,141
    	
 
    	
9/24/2013
    	
 
    
	
VISTRA & Design
    	
 
    	
Registered
    	
 
    	
RN: 4,392,346
    	
 
    	
8/27/2013
    	
 
    
	
HD SUPPLY HARDWARE SOLUTIONS(1)
    	
 
    	
Registered
    	
 
    	
RN: 114-257
    	
 
    	
3/4/2014
    	
 
    
	
AQUAGUARD 5 STEP POOL CARE SYSTEM &   Design
    	
 
    	
Registered
    	
 
    	
RN: 4,535,768
    	
 
    	
05/27/2014
    	
 
    
	
BRIGHTON MANOR
    	
 
    	
Registered
    	
 
    	
RN: 4,129,736
    	
 
    	
4/17/2012
    	
 
    
	
BRIGHTON MANOR & Design
    	
 
    	
Registered
    	
 
    	
RN: 4,535,779
    	
 
    	
5/27/2014
    	
 
    
	
GREENBLOGIC
    	
 
    	
Registered
    	
 
    	
RN: 4,155,442
    	
 
    	
6/5/2012
    	
 
    
	
GRIDADVANCE
    	
 
    	
Registered
    	
 
    	
RN: 4,538,054
    	
 
    	
5/27/2014
    	
 
    
	
MAINTENANCE WAREHOUSE
    	
 
    	
Pending 

ITU
    	
 
    	
SN: 86/303,044
    	
 
    	
6/6/2014
    	
 
    
	
MAINTENANCE WAREHOUSE
    	
 
    	
Pending
    	
 
    	
SN: 86/424,236
    	
 
    	
10/15/2014
    	
 
    
	
PROUDLY DRIVEN BY A VETERAN
    	
 
    	
Pending
    	
 
    	
SN: 86/320,061
    	
 
    	
6/25/2014
    	
 
    
	
RELIA+
    	
 
    	
Pending 

ITU
    	
 
    	
SN: 86/436,537
    	
 
    	
10/28/2014
    	
 
    
	
RELIA+
    	
 
    	
Pending 

ITU
    	
 
    	
SN: 86/436,545
    	
 
    	
10/28/2014
    	
 
    
	
RELIA+
    	
 
    	
Pending 

ITU
    	
 
    	
SN: 86/436,549
    	
 
    	
10/28/2014
    	
 
    

 

(1)  This trademark is registered in the State of Alabama.

 

A - 1

 

	
RELIACARE
    	
 
    	
Registered
    	
 
    	
RN: 4,492,443
    	
 
    	
3/4/2014
    	
 
    
	
SEASONS
    	
 
    	
Pending 

ITU
    	
 
    	
SN: 86/373,220
    	
 
    	
8/21/2014
    	
 
    
	
SEASONS
    	
 
    	
Pending 

ITU
    	
 
    	
SN: 86/373,226
    	
 
    	
8/21/2014
    	
 
    
	
SEASONS
    	
 
    	
Pending 

ITU
    	
 
    	
SN: 86/435,093
    	
 
    	
10/27/2014
    	
 
    
	
SEASONS
    	
 
    	
Pending 

ITU
    	
 
    	
SN: 86/435,138
    	
 
    	
10/27/2014
    	
 
    
	
SPEEDBUILD
    	
 
    	
Allowed
    	
 
    	
SN: 86/160,304
    	
 
    	
1/8/2014
    	
 
    
	
SPEEDBUILD
    	
 
    	
Allowed
    	
 
    	
SN: 86/160,701
    	
 
    	
1/8/2014
    	
 
    
	
TRUESTOCK
    	
 
    	
Pending 

ITU
    	
 
    	
SN: 86/373,181
    	
 
    	
8/21/2014
    	
 
    
	
TRUESTOCK
    	
 
    	
Pending 

ITU
    	
 
    	
SN: 86/373,202
    	
 
    	
8/21/2014
    	
 
    
	
TRU   PERSPECTIVE
    	
 
    	
Pending 

ITU
    	
 
    	
SN: 86/309,319
    	
 
    	
6/13/2014
    	
 
    
	
WE   BUILD YOUR CITY AND KEEP IT RUNNING
    	
 
    	
Registered
    	
 
    	
RN: 4,374,791
    	
 
    	
7/30/2013

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00242-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00242-of-00352.parquet"}]]