NOTICE IS HEREBY GIVEN that on September 5, 2025 (“Date of Sale”), at 1:00 P.M. (EST) at the offices of Bodman PLC, 99 Monroe Ave NW, Suite 300, Grand Rapids MI 49503 and/or virtually via Zoom or similar software, AFC Agent LLC (“Secured Party”) will hold a public auction as described herein under Section 9- 610 et seq. of the Uniform Commercial Code (“UCC”) in connection with (i) a certain Security Agreement dated as of June 18, 2024, between Secured Party and Pulse Partners LLC, a Michigan limited liability company (“Debtor”), (ii) a certain Credit Agreement dated as of June 18, 2024, and (iii) any other documents concerning the accommodations from Secured Party to Debtor, including all collateral assignments, amendments, and related collateral documents (collectively, the “Loan Documents”).
COLLATERAL: Due to the Debtor’s defaults under the Loan Documents, Secured Party will hold a public auction to offer for sale the collateral described on Exhibit A attached hereto and incorporated herein (“Sale Assets”).
ADDITIONAL TERMS
1. The Sale Assets will be sold, as determined in the sole discretion of Secured Party, at public auction (the “Auction”) to the bidder with the highest or otherwise best bid on terms as Secured Party may determine.
2. Any party interested in bidding at the Auction must do all of the following:
(i) present financial information reasonably requested by Secured Party to evidence the ability to consummate the purchase; and
(ii) pre- register for attendance at the Auction by no later than 5:00 P.M. (ET) on September 4, 2025 by contacting counsel for Secured Party, Floyd E. Gates, Jr., Bodman PLC, 99 Monroe Ave NW, Suite 300, Grand Rapids MI 49503, Tel: 616-205-1860, E-Mail: [email protected].
3. The Auction will take place on the Date of Sale at the offices of Bodman PLC identified above and/or virtually via Zoom or similar software (a link to the Auction via Zoom or similar software will be made available to Debtor, any other obligors under the Loan Documents, and all parties that have completed registration for the Auction pursuant to ¶ 2 above).
4. For additional information regarding the terms of any sale, the Auction or the Sale Assets, or other inquiries, please contact counsel for the Secured Party, Floyd E. Gates, Jr., Bodman PLC, 99 Monroe Ave NW, Suite 300, Grand Rapids MI 49503, Tel: 616-205-1860, E-Mail: [email protected].
5. The Debtor and other obligors under the Loan Documents are entitled to an accounting of the unpaid indebtedness owed to Secured Party, at no charge, which accounting may be requested from Secured Party, AFC Agent LLC, Gabriel Katz, E-Mail: [email protected].
6. The proceeds of the Auction may be insufficient to fully satisfy the amounts due and owing under the Loan Documents, and Secured Party expressly reserves its right to collect from Debtor and any other entity or person liable to Secured Party for any deficiency remaining after the sale of the Sale Assets, or any of it (and application of the proceeds thereof) under any agreements concerning and/or related to the Sale Assets (including, without limitation, the Loan Documents). Additionally, Secured Party will incur attorney fees and costs associated with the Auction, for which Debtor and other obligors under the Loan Documents shall be responsible for under the terms of the Loan Documents, unless otherwise prohibited by law.
7. All terms of the sale and Auction are at the Secured Party’s discretion. Secured Party reserves the right, on or prior to the Date of Sale, to modify, waive or amend any terms or conditions of any sale or impose any other terms or conditions on any sale and, if Secured Party deems appropriate, to reject any bids or to continue or adjourn any sale, all without prior notice. Please be advised that Secured Party reserves all rights available to it, including but not limited to the right to sell the Sale Assets in whole or in part, exclude certain assets, and/or to pursue other remedies.
Exhibit A
All of Debtor’s right, title, and interest in and to the following, whether now owned or existing or hereafter acquired or arising and wherever located (all terms used below that are defined in the UCC shall have their respective meanings in the UCC):
(a) all accounts;
(b) all chattel paper;
(c) all commercial tort claims;
(d) all deposit accounts;
(e) all equipment and fixtures;
(f) all general intangibles and payment intangibles, contract rights, rights to payment, rights arising under common law, statutes, or regulations, choses or things in action, goodwill, purchase orders, customer lists, monies due or recoverable from pension funds, route lists, rights to payment and other rights under any royalty or licensing agreements, claims, pension plan refunds, pension plan refund claims, insurance premium rebates, tax refunds, and tax refund claims, interests in a partnership or limited liability company;
(g) all intellectual property, including all copyrights, patents, trademarks (including goodwill symbolized thereby), intellectual property licenses, and all rights corresponding thereto;
(h) all inventory, goods and farm products;
(i) all investment property;
(j) all letters of credit, letter-of-credit rights, instruments, promissory notes, drafts and documents;
(k) all securities, dividends, instruments or other distributions and any other right or property with respect to, in substitution for or in exchange for any equity interest, any right to receive an equity interest and any right to receive earnings;
(l) all supporting obligations; and
(m) all proceeds and products of the foregoing.
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