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HBI » Topics » If we fail to meet our payment or other obligations, the lenders could foreclose on, and acquire control of, substantially all of our assets.These excerpts taken from the HBI 10-K filed Feb 19, 2008. If we
fail to meet our payment or other obligations, the lenders could
foreclose on, and acquire control of, substantially all of our
assets.
In connection with our incurrence of indebtedness under the
Credit Facilities, the lenders under those facilities have
received a pledge of substantially all of our existing and
future direct and indirect subsidiaries, with certain customary
or
agreed-upon
exceptions for foreign subsidiaries and certain other
subsidiaries. Additionally, these lenders generally have a lien
on substantially all of our assets and the assets of our
subsidiaries, with certain exceptions. The financial
institutions that are party to the Receivables Facility have a
lien on certain of our domestic accounts receivables. As a
result of these pledges and liens, if we fail to meet our
payment or other obligations under the Senior Secured Credit
Facility, the Second Lien Credit Facility or the Receivables
Facility, the lenders under those facilities will be entitled to
foreclose on substantially all of our assets and, at their
option, liquidate these assets.
If we fail to meet our payment or other obligations, the lenders could foreclose on, and acquire control of, substantially all of our assets. In connection with our incurrence of indebtedness under the Credit Facilities, the lenders under those facilities have received a pledge of substantially all of our existing and future direct and indirect subsidiaries, with certain customary or agreed-upon exceptions for foreign subsidiaries and certain other subsidiaries. Additionally, these lenders generally have a lien on substantially all of our assets and the assets of our subsidiaries, with certain exceptions. The financial institutions that are party to the Receivables Facility have a lien on certain of our domestic accounts receivables. As a result of these pledges and liens, if we fail to meet our payment or other obligations under the Senior Secured Credit Facility, the Second Lien Credit Facility or the Receivables Facility, the lenders under those facilities will be entitled to foreclose on substantially all of our assets and, at their option, liquidate these assets. | EXCERPTS ON THIS PAGE:
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