Best Buy 2003 Annual Report Download - page 93

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Best Buy Canada Ltd. (fka Future Shop Ltd., & Subsidiaries Graphic)
5
SCHEDULE “C” TO OFFER LETTER
FROM HSBC BANK CANADA
TO BEST BUY CANADA LTD. MAGASINS BEST BUY LTÉE.
DATED SEPTEMBER 13, 2002
Existing Liens
1. Priority claims accorded to suppliers of inventory pursuant
to section 81 of the Bankruptcy and Insolvency Act (Canada).
2. Security granted to specific vendors:
(a) IBM – Security granted on inventory financed by them, which secured indebtedness will not exceed Cdn.$18,500,000.
3. Security granted to others:
(a) Canadian Imperial Bank of Commerce has a priority agreement on a pledge of bank balances in the amount of $800,000,
provided in connection with purchasing card facilities.