Exhibit 10.21

 

EXECUTION VERSION

 

TRADEMARK SECURITY AGREEMENT

 

This Intellectual Property Security Agreement (as amended, restated, supplemented or otherwise modified from time to time, the “Agreement”) is entered into as of May 3, 2019, by and between ROCK CLIFF CAPITAL, LLC (the “Lender”), and HERBAL BRANDS, INC., a Delaware corporation (“Grantor”).

 

RECITALS

 

A. Grantor has entered into that certain Loan and Security Agreement, dated as of the date hereof (as amended, restated, supplemented or otherwise modified from time to time, the “Loan Agreement”), with Lender , pursuant to which the Lender will make extensions of credit to Grantor;

 

B. As a condition to the Loan Agreement, Grantor is required to enter into this Agreement to further evidence the grant to Lender of the security interest in its Trademarks to secure the Obligations.

 

AGREEMENT

 

NOW, THEREFORE, Grantor agrees as follows:

 

To secure the Obligations, Grantor grants and pledges to Lender a security interest in all of Grantor’s Intellectual Property consisting of Trademarks (including without limitation those Trademarks listed on Exhibit A hereto), and all goodwill connected with the use thereof and symbolized thereby.

 

This security interest is granted in conjunction with the security interest granted to Lender under the Loan Agreement. The rights and remedies of Lender with respect to the security interest are as set forth in the Loan Agreement or as are now or hereafter available to the Lender as a matter of law or equity, shall be cumulative and concurrent.

 

Grantor represents and warrants that Exhibit A attached hereto set forth any and all Trademarks necessary for the conduct of its business in connection with which such Grantor has registered or filed an application with the United States Patent and Trademark Office.

 

All capitalized terms used herein without definition shall have the meanings ascribed thereto in the Loan Agreement.

 

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]

 

 

 

IN WITNESS WHEREOF, the parties have caused this Agreement to be duly executed effective as of the date set forth above.

 

Address of Grantor: GRANTOR:
  HERBAL BRANDS, INC.
489 Fifth Avenue, 27th Floor  
New York, NY 10017 By: /s/ Kyle Detwiler
  Name:   Kyle Detwiler
  Title: President

 

[SIGNATURE PAGE TO TRADEMARK SECURITY AGREEMENT]

 

 

 

Address of Lender: LENDER:
  ROCK CLIFF CAPITAL, LLC
412 West 15th Street, 14th Floor  
New York, New York 10011 By: /s/ Justin Korsant
  Name:   Justin Korsant
  Title: Authorized Signatory

 

[SIGNATURE PAGE TO TRADEMARK SECURITY AGREEMENT]

 

 

 

Exhibit A – TRADEMARKS

 

Trademark  Applicant  Owner  Date Filed  Serial #  Registration
Date
  Registration
DOCTORCARE PLUS  BNG Enterprises,  Herbal Brands, Inc.  12/9/2011  85492092  1/21/2014  4471375
DOCTORCAREPLUS RIGHTFOOT  SupremeBeing, LLC  Herbal Brands, Inc.  4/10/2015  86594356  1/17/2017  5125005
HERBAL CLEAN  BNG Enterprises,  Herbal Brands, Inc.  10/10/1995  75003292  9/17/1996  2001460
MASTER TEA  BNG Enterprises,  Herbal Brands, Inc.  10/10/1995  75003295  9/17/1996  2001461
NATURAL TREASURES  BNG Enterprises,  Herbal Brands, Inc.  10/10/1995  75003298  5/27/1997  2064566
MIRACLE BREAST  BNG Enterprises,  Herbal Brands, Inc.  6/2/1999  75719466  2/13/2001  2428925
Q CLEAN  BNG Enterprises,  Herbal Brands, Inc.  2/3/2000  75909283  2/19/2002  2539154
PRETOX  BNG Enterprises,  Herbal Brands, Inc.  2/16/2000  75921348  2/19/2002  2539181
CLEANSING TABS  BNG Enterprises,  Herbal Brands, Inc.  8/27/2001  76305877  1/7/2003  2671491
THE FIXX  BNG Enterprises,  Herbal Brands, Inc.  8/25/2001  76305376  4/8/2003  2705331
TOTAL ECLIPSE  BNG Enterprises,  Herbal Brands, Inc.  4/25/2001  76246739  8/5/2003  2748088
Q CARBO PLUS  BNG Enterprises,  Herbal Brands, Inc.  5/4/2000  76041225  8/26/2003  2756650
1 SHOT  BNG Enterprises,  Herbal Brands, Inc.  5/16/2003  76514920  6/15/2004  2853016
GENTLE CARE  BNG Enterprises,  Herbal Brands, Inc.  2/24/2003  76491738  6/7/2005  2960253
CLEANSING COCKTAIL  BNG Enterprises,  Herbal Brands, Inc.  2/4/2004  78362601  1/31/2006  3056647
BUTT DUST  BNG Enterprises,  Herbal Brands, Inc.  6/9/2006  78904595  7/3/2007  3258229
KEESTER KREAM  BNG Enterprises,  Herbal Brands, Inc.  6/2/2006  78899620  4/1/2008  3407614
GENTLE CARE  BNG Enterprises,  Herbal Brands, Inc.  8/15/2007  77256343  6/3/2008  3439690
SIMPLY SLENDER LEMONMADE DIET  BNG Enterprises,  Herbal Brands, Inc.  11/6/2007  77322752  12/16/2008  3547936
ASSURE DETOX  ACME Wholesale,  Herbal Brands, Inc.  5/29/2008  77486563  11/3/2009  3706285
ELIMINEX  BNG Enterprises,  Herbal Brands, Inc.  1/4/2010  77904716  8/3/2010  3828156
RELY  ACME Wholesale,  Herbal Brands, Inc.  8/15/2008  77548626  12/7/2010  3886799
QTABS  BNG Enterprises,  Herbal Brands, Inc.  7/24/2012  85685885  4/15/2014  4513293
PURITEX  BNG Enterprises,  Herbal Brands, Inc.  8/14/2015  86725995  11/7/2017  5330195
ERASE+DETOX  BNG Enterprises,  Herbal Brands, Inc.  8/14/2015  86725999  11/7/2017  5330196
QUICK TABS  BNG Enterprises,  Herbal Brands, Inc.  10/10/1995  75003297  1/6/1998  2127630
CHEEKY CLEAN  BNG Enterprises,  Herbal Brands, Inc.  8/21/2006  78956938  12/4/2007  3350403
FOOT De-FUNK  BNG Enterprises,  Herbal Brands, Inc.  11/17/2017  87690092  Pending  Pending
FOOT De-FUNK  BNG Enterprises,  Herbal Brands, Inc.  11/17/2017  87690103  Pending  Pendings
SIMPLY SLENDER  BNG Enterprises,  Herbal Brands, Inc.  1/17/2018  87759207  Pending  Pending
SIMPLY SLENDER  BNG Enterprises,  Herbal Brands, Inc.  1/17/2018  87759237  Pending  Pending
FUSION FORMULATIONS  Fusion Formulations, Inc. (name corrected to  Herbal Brands, Inc.  12/11/2007  77349390  5/5/2009  3616950