Office Depot 2012 Annual Report Download - page 113

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Exhibit 10.37
Financing agreement
Between the undersigned:
ABN AMRO Commercial Finance
A French limited company (S.A.) with share capital of €€20,000,015
Whose registered office is located at: 39, Rue Anatole France
92532 LEVALLOIS PERRET Cedex
RCS Nanterre 410 750 863
Hereinafter referred to as “ABN AMRO COM FIN”, on one side,
And
OFFICE DEPOT BS
A simplified joint-stock company (SAS) with share capital of €€140.803.200
Whose registered office is located at: 126, Avenue du Poteau
60300 SENLIS
RCS 324 559 970
Hereinafter referred to as “the Client” on the other side
Preliminary Title: Definitions
For the purposes of this agreement, the following terms are defined as follows:
Eligible receivables: In order to be eligible under the terms of this Agreement, receivables (“Eligible Receivables”) must fulfil all of
the following conditions:
Current account: An account held in the Client’s name with ABN AMRO COM FIN in which all transactions which this Financing
Agreement refers to, that constitute the account balance shall be registered.
Cashing accounts: Bank accounts belonging to the Client dedicated to the collection of payments received on behalf of ABN AMRO
COM FIN in the context of the management contract granted by ABN AMRO COM FIN.
A Significant Unfavorable Event is defined by the following:
-be un
q
uestionable, li
q
uid and denominated in euros,
- corres
p
ond to firm sales which have been delivered or services which have been
p
rovided,
- have a due date in line with a
pp
licable re
g
ulations,
- be issued to any type of debtor located in metropolitan France or in the OECD and agreed in advance by ABN AMRO COM
FIN.
- The customer’s financial situation
p
resents a ver
y
si
g
nificant imbalance which can
q
uestion the com
p
an
y
’s sustainabilit
y
.
- The Customer controls (owns) companies the importance of which is significant and which are the object of a judgment of
li
q
uidation.
- The Customer is the ob
j
ect of a statement of bankru
p
tc
y
(sus
p
ension of
p
a
y
ments).
- The Customer, has lost in less than 36 months more than half of share capital, without the reconstitution of shareholders’ equity,
or without Bank of France bein
g
informed of this reconstitution.
- A legal representative of the Customer, is under particular scrutiny, for example because of a judgment of personal bankruptcy
or a ban to mana
g
e a com
p
an
y
.
-Com
p
anies that own and/or control the ma
j
orit
y
of shares of the Customer, are the ob
j
ect of a
j
ud
g
ment of li
q
uidation.
- The Customer has taken over a company rated P by the Bank of France and existing management team of the P rated company is
not substantiall
y
modified.
- The Customer exercises the function of legal representative in more than two companies which are object of a judgment of