NOTIFICATION OF UCC PUBLIC SALE
NOTICE IS HEREBY GIVEN that, pursuant to Section 9-610 of the Uniform Commercial Code, all of the right, title, interest, claim and estate of the collateral described below will be sold by Green Hills Software LLC (“Secured Party”), as the secured party under certain agreements with Hoyos Integrity Corporation, a Delaware corporation (“Hoyos”), to the highest bidder at a public sale via Zoom to take place on April 22, 2022 at 10:00 a.m. (Pacific Time).
The collateral of Secured Party to be sold at this public sale consists of all right, title, estate, claim, and interest of Hoyos in:
Based on a recent inventory, the Phones consist of approximately 8,930 international band and approximately 725 United States band 4G smartphones, which quantities should be confirmed by prospective bidders before submitting any bids. Additional specifications with respect to the Phones can be obtained by submitting a written request to the contact information provided below. Secured Party intends to offer the assets as a single lot, but reserves the right to designate sublots. Secured Party reserves the right to establish other reasonable bidding procedures in its sole and absolute discretion.
Subject to applicable federal, state, and local laws and rules related to the COVID-19 pandemic, there may also be the ability of qualified bidders to request to attend the sale in-person. Secured Party may elect to appoint a licensed auctioneer to conduct the public sale. Secured Party reserves the right to cancel the sale in its entirety, or to postpone or adjourn the sale to a future date, in each case without prior notice.
Prospective bidders must register prior to the sale with the representative of Secured Party identified below. Any prospective purchaser who is the highest bidder, other than Secured Party, will be required to pay the purchase price of the Collateral at the time of the public sale by cash, cashier’s check or other immediately available funds. Each prospective bidder (other than Secured Party) must two (2) business days prior to the auction (i) tender to Secured Party a deposit of $250,000 by wire transfer, and (ii) demonstrate to Secured Party such bidder’s financial capacity to tender payment for the Collateral in advance of bidding. No offers may be withdrawn once made, but no sale shall be final until accepted in writing by Secured Party (or its agent, designee or nominee).
Secured Party (or its agent, designee or nominee) reserves the right to bid for and purchase the Collateral and if Secured Party (or its agent, designee or nominee) is the highest bidder, to pay the purchase price of the Collateral, in whole or in part, by crediting the purchase price against the balance of the unpaid indebtedness due under the Loan Agreement.
All of the Collateral will be offered and sold on an “AS-IS AND WHERE IS” basis, with all faults, and Secured Party makes no guarantee or warranty, express or implied, as to the quantity, quality, condition, or description of the Collateral being sold.
Any questions about the sale should be directed to counsel for Secured Party:
Michael S. Neumeister
GIBSON, DUNN & CRUTCHER LLP
333 South Grand Avenue
Los Angeles, CA 90071
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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