This is a public record generated listing.
Trademark Assets for Sale
Listing Information
Attachments
Trademark Assets for Sale
Price: $4,275,000.00
Other Item Info
Item #: ilnbke_1477789
Created: 02/26/2021
Category: Business Property > Intellectual Property > Other
Sale Date: Tue. Apr 20, 2021
Created: 02/26/2021
Category: Business Property > Intellectual Property > Other
Sale Date: Tue. Apr 20, 2021
Seller Info
Neville Reid
Trustee's Attorney
200 W. Madison Suite 3000
Chicago, IL 60606
312 224-1200
Trustee's Attorney
200 W. Madison Suite 3000
Chicago, IL 60606
312 224-1200
Bankruptcy Info
Case #: 1:19-bk-10236
Case Title: Johnson Publishing Company, LLC
Court: Illinois Northern Bankruptcy Court
Chapter: 7
View Case Docket
Case Title: Johnson Publishing Company, LLC
Court: Illinois Northern Bankruptcy Court
Chapter: 7
View Case Docket
Description
Sale of assets of Johnson Publishing Company, LLC which includes:
- the Trustee’s, the Estate’s and Seller’s right, license and interest in the use of all trademarks, trade names, logos and domain names that use the words “EBONY” and “EBONE” in connection with the fields of cosmetics, personal care and fashion, together with any and all goodwill associated therewith in such fields, as more specifically set forth (and to the fullest extent provided) in Section 2.1 and Article I of the May 5, 2016 Trademark License Agreement (the “TLA”) entered into between JPC and Ebony Media Operations., LLC (“EMO”) and (by cross reference therein) Schedule 1.1(a)(i) of the May 5, 2016 Asset Purchase Agreement between JPC and EMO (the “EMO APA”), and
- all other rights or property of JPC, the Estate or the Trustee under the TLA
Financial Overview
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months
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Asset and Liability Summary ($)
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Additional Details
- Auction Time: 10:00 A.M
- Sale hearing on May 4, 2021
- Sale price: (i) $4,275,000 plus (ii) the Paper Inventory Amount (the “Initial Purchase Price”) as follows: (a) $2,825,000 by wire transfer of immediately available funds (the “Cash Consideration”); (b) the Paper Inventory Amount by wire transfer of immediately available funds; and (c) A promissory note (the “Seller Note”) in substantially the form attached hereto as Exhibit B, in the amount of $1,450,000 having a four year term and paying five percent (5%) interest on an annual basis along with principal payments of twenty-five percent (25%) of the loan amount, or $362,500, payable on the first, second, third and fourth anniversaries of the Closing Date.
- Bid deadline: April 15, 2021
- Last date to respond: April 27, 2021