To: Interested Members of the Public
From: BANANA STAND ACQUISITION LLC (“Secured Party”)
c/o Levenfeld Pearlstein, LLC, Attorney for the Secured Party
Attn: Jamie L. Burns
120 S. Riverside Plaza, 18th Floor
Chicago, Illinois 60606
Names of Debtor(s): TRIPLE AUGHT DESIGN LLC (the “Company”)
We will sell the Collateral described below to the highest qualified bidder in public as follows:
Day and Date: July 5, 2023
Time: 9:00 a.m. CST
Place: Remote Sale via Zoom
Login: 852 8066 2456
All of the Company’s assets, howsoever arising, wherever located, including but not limited to the following: (1) all Equipment; (2) all Accounts Receivable; (3) all Inventory; (4) any and all monies, reserves, deposits, deposit accounts, securities, cash, cash equivalents, balances, credits, and interest and dividends on any of the above, of or in the name of the Company with any financial institution, and any and all other Property of any kind and description of or in the name of the Company for any reason or purpose whatsoever, in the possession or control of, or in transit to, the Company or any agent or bailee for the Company; (5) all chattel paper, whether tangible or electronic chattel paper, contract rights, letter of credit rights, and instruments including, without limitation, all supporting obligations of any of the foregoing; (6) all General Intangibles; (7) all investment Property; (8) all furniture and fixtures; (9) all documents of title and receipt, whether negotiable or nonnegotiable, including all goods covered by such documents; and (10) any and all substitutions, renewals, improvements, replacements, additions and proceeds of (1) through (9) above, including, without limitation, proceeds of insurance policies.
The sale will be conducted in accordance with the provisions of the Illinois Uniform Commercial Code. The bid price must be paid in certified check or cashier’s check payable to the order of BANANA STAND ACQUISITION LLC. Twenty Percent (20%) of the successful bid price will be paid at the time of sale and the balance must be paid within two (2) business days of the sale.
If the successful bidder defaults on the secured balance, the Secured Party may retain the initial deposit and, at the Secured Party’s option, sell to the next highest bidder. Secured Party reserves the right to bid part or all of the amount secured by the Collateral being sold without certified check or cashier’s check as required for other bidders. The Secured Party reserves the right within three (3) business days of the completion of the bidding to reject all bids. The Secured Party reserves the right to adjourn the sale to another date without further publication or notice by giving notice at the time of the sale.
If the Secured Party accepts a bid, the bidder will receive a Secured Party Bill of Sale of the interest of the Secured Party in the Collateral purchased, subject to the terms hereof. The Secured Party makes no representations or warranties as to the condition of the Collateral and the sale is “as is”, where is and with all faults, subject to any and all taxes, liens, claims or encumbrances. There is no warranty as to title, possession, quiet enjoyment, or the like in this disposition.
The Company is entitled to an accounting of the unpaid indebtedness, which shall be provided free of charge.
Please contact Jamie L. Burns, Levenfeld Pearlstein, LLC ((312) 476-7601), counsel for Secured Party, for further information.
DailyDAC™ is the oldest, most trusted, and most widely used provider of public notices of asset sales and case commencements, and other important notices involving companies in financial distress in the United States and Canada. DailyDAC™ public notices are used by bankruptcy trustees, chapter 11 debtors in possession, federal and state court receivers, and secured parties disposing of their collateral under Article 9 of the Uniform Commercial Code or other state law trust (and their respective auction firms, law firms, and other agents). Learn more.
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