Exhibit 10.46
ASSUMPTION AGREEMENT
THIS ASSUMPTION AGREEMENT made as of September 10, 2002 by Clean
Harbors, Inc., a Massachusetts corporation ("Obligor"), in favor of Safety-Kleen
Services, Inc., a Delaware corporation (the "Company"), and the Company's
Selling Subs listed on Schedule 9.1 to the Acquisition Agreement (as defined
below) (the Company and the Selling Subs being collectively referred to
hereafter as the "Sellers"). Capitalized terms used herein but not defined
herein shall have the meanings ascribed to such terms in the Acquisition
Agreement.
W I T N E S S E T H:
WHEREAS, Obligor and the Company are parties to an Acquisition
Agreement, dated as of February 22, 2002, as amended to date (as so amended, the
"Acquisition Agreement"), relating to the sale of certain assets by the Sellers
to Obligor. The Obligor has agreed to assume from the Sellers and their
Affiliates the Assumed Liabilities as set forth in the Acquisition Agreement;
and
WHEREAS, the parties desire to carry out the intent and purpose of the
Agreements by Obligor's execution and delivery to the Sellers of this instrument
evidencing the assumption of certain liabilities and obligations of the Sellers.
NOW, THEREFORE, in consideration of the foregoing and for other good
and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the parties hereto agree as follows:
Section 1. As of the date hereof, Obligor, pursuant to Section 1.3 of
the Acquisition Agreement, hereby covenants and agrees to assume and thereafter
pay, perform or otherwise discharge the Assumed Liabilities, in accordance with
their terms, as set forth in Section 1.3 of the Acquisition Agreement.
Section 2. Obligor hereby covenants that from time to time after
delivery of this Assumption Agreement at the request of the Sellers and without
further cost or expense to the Sellers, unless otherwise provided in the
Acquisition Agreement, Obligor will execute and deliver such other instruments
which the Sellers may reasonably request in order to more effectively consummate
the assumption of the Assumed Liabilities contemplated by the Acquisition
Agreement.
Section 3. Nothing in this instrument, express or implied, is intended
or shall be construed to confer upon, or give to, any person, firm or
corporation, other than the Sellers and their successors and assigns, any remedy
or claim under or by reason of
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this instrument or any terms, covenants or condition hereof, and all the terms,
covenants and conditions, promises and agreements in this instrument shall be
for the sole and exclusive benefit of the Sellers and their successors and
assigns.
Section 4. Notwithstanding anything to the contrary contained herein or
in the Acquisition Agreement, the assumption by Obligor of the Assumed
Liabilities as set forth above shall not be construed to defeat, impair or limit
in any way (i) any rights or remedies of Obligor against third parties to
contest or dispute the validity or amount of any of such Assumed Liabilities or
(ii) any other rights or remedies of the Obligor under the Acquisition
Agreement.
Section 5. Nothing contained herein shall release the Company or
Obligor from any of its duties or obligations under the Acquisition Agreement or
in any way diminish, limit or modify any of the representations, warranties,
covenants or agreements set forth in the Acquisition Agreement.
Section 6. This Assumption Agreement shall be governed by and construed
in accordance with the laws of the State of Delaware without regard to the rules
of conflict of laws of the Sate of Delaware or any other jurisdiction. Until
confirmation of the Bankruptcy Plan, Obligor and the Sellers irrevocably and
unconditionally consent to submit to the jurisdiction of the Bankruptcy Court
for any litigation arising out of or relating to this Assumption Agreement and
the transactions contemplated hereby (and agree not to commence any litigation
relating thereto except in the Bankruptcy Court).
Section 7. This Assumption Agreement shall be binding upon and inure to
the benefit of the parties hereto and their respective successors and assigns.
Section 8. This Assumption Agreement may be executed in counterparts,
each of which shall be deemed an original, but all of which together shall
constitute one and the same original.
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IN WITNESS WHEREOF, this Assumption Agreement has been duly executed
and delivered by the duly respective authorized officers of each of Obligor and
the Sellers as of the date first above written.
CLEAN HARBORS, INC.
By: /s/ Alan McKim
---------------------------------------------
Name: Alan McKim
Title: President
SAFETY-KLEEN SERVICES, INC.
By: /s/ D. M. Sprinkle
---------------------------------------------
Name: David M. Sprinkle
Title: President
SELLING SUBS:
SAFETY-KLEEN (CONSULTING), INC.
By: /s/ Larry W. Singleton
---------------------------------------------
Name: Larry W. Singleton
Title: President
SAFETY-KLEEN (LONE AND GRASSY MOUNTAIN), INC.
By: /s/ D. M. Sprinkle
---------------------------------------------
Name: David M. Sprinkle
Title: President
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SAFETY-KLEEN (TULSA), INC.
By: /s/ D. M. Sprinkle
---------------------------------------------
Name: David M. Sprinkle
Title: President
SAFETY-KLEEN (SAN ANTONIO), INC.
By: /s/ D. M. Sprinkle
---------------------------------------------
Name: David M. Sprinkle
Title: President
SAFETY-KLEEN (WICHITA), INC.
By: /s/ D. M. Sprinkle
---------------------------------------------
Name: David M. Sprinkle
Title: President
SAFETY-KLEEN (DELAWARE), INC.
By: /s/ Larry W. Singleton
---------------------------------------------
Name: Larry W. Singleton
Title: President of Sole Shareholder
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SK SERVICES (EAST), L.C.
By: /s/ Larry W. Singleton
---------------------------------------------
Safety-Kleen (Delaware), Inc.,
its Sole Shareholder
Name: Larry W. Singleton
Title: President of Sole Shareholder
SK SERVICES, L.C.
By: /s/ Larry W. Singleton
---------------------------------------------
Safety-Kleen (Delaware), Inc.,
its Sole Shareholder
Name: Larry W. Singleton
Title: President of Sole Shareholder
SAFETY-KLEEN (ROSEMOUNT), INC.
By: /s/ Larry W. Singleton
---------------------------------------------
Name: Larry W. Singleton
Title: President
SAFETY-KLEEN (SAWYER), INC.
By: /s/ Larry W. Singleton
---------------------------------------------
Name: Larry W. Singleton
Title: President
SAFETY-KLEEN (PPM), INC.
By: /s/ D. M. Sprinkle
---------------------------------------------
Name: David M. Sprinkle
Title: President
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NINTH STREET PROPERTIES, INC.
By: /s/ Larry W. Singleton
---------------------------------------------
Name: Larry W. Singleton
Title: President
SAFETY-KLEEN (SAN JOSE), INC.
By: /s/ D. M. Sprinkle
---------------------------------------------
Name: David M. Sprinkle
Title: President
CHEMCLEAR, INC. OF LOS ANGELES
By: /s/ D. M. Sprinkle
---------------------------------------------
Name: David M. Sprinkle
Title: President
USPCI, INC. OF GEORGIA
By: /s/ Larry W. Singleton
---------------------------------------------
Name: Larry W. Singleton
Title: President
SAFETY-KLEEN HOLDINGS, INC.
By: /s/ Larry W. Singleton
---------------------------------------------
Name: Larry W. Singleton
Title: President
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SAFETY-KLEEN (WESTMORLAND), INC.
By: /s/ D. M. Sprinkle
---------------------------------------------
Name: David M. Sprinkle
Title: President
SAFETY-KLEEN (BUTTONWILLOW), INC.
By: /s/ D. M. Sprinkle
---------------------------------------------
Name: David M. Sprinkle
Title: President
SAFETY-KLEEN (NE), INC.
By: /s/ D. M. Sprinkle
---------------------------------------------
Name: David M. Sprinkle
Title: President
SAFETY-KLEEN (CROWLEY), INC.
By: /s/ D. M. Sprinkle
---------------------------------------------
Name: David M. Sprinkle
Title: President
SAFETY-KLEEN (LAPORTE), INC.
By: /s/ D. M. Sprinkle
---------------------------------------------
Name: David M. Sprinkle
Title: President
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SAFETY-KLEEN (TG), INC.
By: /s/ D. M. Sprinkle
---------------------------------------------
Name: David M. Sprinkle
Title: President
SAFETY-KLEEN (ROEBUCK), INC.
By: /s/ D. M. Sprinkle
---------------------------------------------
Name: David M. Sprinkle
Title: President
SAFETY-KLEEN (TS), INC.
By: /s/ D. M. Sprinkle
---------------------------------------------
Name: David M. Sprinkle
Title: President
SAFETY-KLEEN (COLFAX), INC.
By: /s/ D. M. Sprinkle
---------------------------------------------
Name: David M. Sprinkle
Title: President
GSX CHEMICAL SERVICES OF OHIO, INC.
By: /s/ D. M. Sprinkle
---------------------------------------------
Name: David M. Sprinkle
Title: President
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LEMC, INC.
By: /s/ Larry W. Singleton
---------------------------------------------
Name: Larry W. Singleton
Title: President
SAFETY-KLEEN CHEMICAL SERVICES, INC.
By: /s/ D. M. Sprinkle
---------------------------------------------
Name: David M. Sprinkle
Title: President
SAFETY-KLEEN (ALTAIR), INC.
By: /s/ D. M. Sprinkle
---------------------------------------------
Name: David M. Sprinkle
Title: President
SAFETY-KLEEN (FS), INC.
By: /s/ D. M. Sprinkle
---------------------------------------------
Name: David M. Sprinkle
Title: President
SAFETY-KLEEN (BDT), INC.
By: /s/ D. M. Sprinkle
---------------------------------------------
Name: David M. Sprinkle
Title: President
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SAFETY-KLEEN (GS), INC.
By: /s/ D. M. Sprinkle
-----------------------------------------------
Name: David M. Sprinkle
Title: President
SAFETY-KLEEN (CLIVE), INC.
By: /s/ D. M. Sprinkle
-----------------------------------------------
Name: David M. Sprinkle
Title: President
SAFETY-KLEEN (WT), INC.
By: /s/ D. M. Sprinkle
-----------------------------------------------
Name: David M. Sprinkle
Title: President
SAFETY-KLEEN OSCO HOLDINGS, INC.
By: /s/ Larry W. Singleton
-----------------------------------------------
Name: Larry W. Singleton
Title: President
SAFETY-KLEEN (NASHVILLE), INC.
By: /s/ D. M. Sprinkle
-----------------------------------------------
Name: David M. Sprinkle
Title: President
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SAFETY-KLEEN (BARTOW), INC.
By: /s/ D. M. Sprinkle
-----------------------------------------------
Name: David M. Sprinkle
Title: President
SAFETY-KLEEN (CALIFORNIA), INC.
By: /s/ D. M. Sprinkle
-----------------------------------------------
Name: David M. Sprinkle
Title: President
SAFETY-KLEEN (CHATTANOOGA), INC.
By: /s/ D. M. Sprinkle
-----------------------------------------------
Name: David M. Sprinkle
Title: President
SAFETY-KLEEN (PECATONICA), INC.
By: /s/ D. M. Sprinkle
-----------------------------------------------
Name: David M. Sprinkle
Title: President
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SAFETY-KLEEN (WHITE CASTLE), INC.
By: /s/ D. M. Sprinkle
-----------------------------------------------
Name: David M. Sprinkle
Title: President
SAFETY-KLEEN (PUERTO RICO), INC.
By: /s/ D. M. Sprinkle
-----------------------------------------------
Name: David M. Sprinkle
Title: President
SAFETY-KLEEN (BRIDGEPORT), INC.
By: /s/ D. M. Sprinkle
-----------------------------------------------
Name: David M. Sprinkle
Title: President
SAFETY-KLEEN (DEER PARK), INC.
By: /s/ D. M. Sprinkle
-----------------------------------------------
Name: David M. Sprinkle
Title: President
SAFETY-KLEEN (BATON ROUGE), INC.
By: /s/ D. M. Sprinkle
-----------------------------------------------
Name: David M. Sprinkle
Title: President
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SAFETY-KLEEN (PLAQUEMINE), INC.
By: /s/ D. M. Sprinkle
-----------------------------------------------
Name: David M. Sprinkle
Title: President
SAFETY-KLEEN (CUSTOM TRANSPORT), INC.
By: /s/ Larry W. Singleton
-----------------------------------------------
Name: Larry W. Singleton
Title: President
SAFETY-KLEEN (LOS ANGELES), INC.
By: /s/ D. M. Sprinkle
-----------------------------------------------
Name: David M. Sprinkle
Title: President
SAFETY-KLEEN (TIPTON), INC.
By: /s/ D. M. Sprinkle
-----------------------------------------------
Name: David M. Sprinkle
Title: President
SAFETY-KLEEN (GLOUCESTER), INC.
By: /s/ D. M. Sprinkle
-----------------------------------------------
Name: David M. Sprinkle
Title: President
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SAFETY-KLEEN (DEER TRAIL), INC.
By: /s/ D. M. Sprinkle
-----------------------------------------------
Name: David M. Sprinkle
Title: President
SAFETY-KLEEN (MT. PLEASANT), INC.
By: /s/ D. M. Sprinkle
-----------------------------------------------
Name: David M. Sprinkle
Title: President
SAFETY-KLEEN (MINNEAPOLIS), INC.
By: /s/ Larry W. Singleton
-----------------------------------------------
Name: Larry W. Singleton
Title: President
SAFETY-KLEEN (ARAGONITE), INC.
By: /s/ D. M. Sprinkle
-----------------------------------------------
Name: David M. Sprinkle
Title: President
SAFETY-KLEEN (SUSSEX), INC.
By: /s/ D. M. Sprinkle
-----------------------------------------------
Name: David M. Sprinkle
Title: President
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SAFETY-KLEEN (ENCOTEC), INC.
By: /s/ D. M. Sprinkle
-----------------------------------------------
Name: David M. Sprinkle
Title: President
[Assumption Agreement]
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