NOTICE IS HEREBY GIVEN that on Tuesday, July 9, 2019, at 10:00 a.m. (Eastern Daylight Time) (the “Date of Sale”) at the offices of Schulte Roth & Zabel LLP, 919 Third Avenue, New York, New York 10022, the secured party, North Channel Bank GmbH & Co. KG (“Seller”), pursuant to (a) Section 9-610 et seq. of the Revised Uniform Commercial Code as adopted in New York and other applicable law; and (b)(i) that certain Loan Agreement dated March 24, 2016 between the Seller, as lender, and Trillium, Inc., as borrower (“Debtor”), (ii) that certain Collateral Pledge Agreement dated March 24, 2016 by the Debtor in favor of Seller and (iii) any other documents respecting loans made to the Debtor from Seller (including all addenda, amendments and collateral documents related thereto), will hold a public sale to offer for sale all of the Debtor’s privileges, right, title and interest in and to the following life insurance policy (the “Policy”): Carrier – Transamerica Occidental Life; Policy No. – 65060873; Benefit Amount – $5,000,000.
Terms and Conditions of Sale. The Policy will be sold to the bidder with the highest or otherwise best bid on an “AS IS, WHERE IS BASIS, AND WITH ALL FAULTS” and without any express or implied representations or warranties whatsoever. Seller reserves the right, on, at or prior to the sale, to modify, waive or amend any terms or conditions of the sale or impose any other terms or conditions on the sale and, if Seller deems appropriate, to reject any bids or to continue the sale without prior notice. Seller reserves the right to credit bid for the Policy at the sale. The successful bidder will be required to pay the purchase price in cash, wire transfer or by certified check on the Date of Sale, or as otherwise directed by Seller. All inquiries should be directed to Seller’s broker, Doug Himmel, Melville Capital, LLC, 528 Arizona Ave., Suite 205, Santa Monica, CA 90401; Telephone: (310) 943-5370; [email protected] Any party wishing to attend the sale must pre-register not later than 12:00 p.m. (EDT) on Monday, July 8, 2019 by contacting Michael M. Eidelman, Vedder Price P.C., 222 North LaSalle Street, Suite 2600, Chicago, IL 60601; Telephone: (312) 609-7500; [email protected]
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