EX-10.46 11 dex1046.txt ASSUMPTION AGREEMENT 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 1 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. ******** 2 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 3 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 4 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 5 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 6 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 7 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 8 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 9 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 10 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 11 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 12 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 13 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 14 SAFETY-KLEEN (ENCOTEC), INC. By: /s/ D. M. Sprinkle ----------------------------------------------- Name: David M. Sprinkle Title: President [Assumption Agreement] 15