Alberta · Receivership (court-appointed)
Affidavit of Ian Mark Philip (ATB)
Affidavit · 13 February 2024
AI summary
A plain-English summary drawn only from this filing: what it is, why it matters, and the parties, amounts and dates it turns on.
What we verified from this filing2 verified
- secured creditorsnote: Referenced as 'another secured creditor' of the Debtors in connection with a proposed pro rata allocation of $300,000 from the Employee Transaction proceeds; no balance or security particulars disclosed in this affidavit. · page: 4 · debtor: Debtors (unspecified which entity/entities) · creditor: Fiera Private Debt Fund VI LP (by its general partner, Fiera Private Debt Fund GP Inc.) · currency: CAD
- secured creditorsnote: Non-revolving demand term loan facility (Credit Facility) had a stated maximum/original amount of $3,393,083; the Credit Facility is fully drawn. The $3,811,245.05 figure (plus accruing interest, fees, costs and expenses) is the exact indebtedness as of the affidavit's swear date, February 13, 2024, and supersedes the facility limit as the operative balance. · page: 6 · as of: 2024-02-13 · amount: 3811245.05 · debtor: mCloud Technologies Services Inc. (Borrower), guaranteed by mCloud Technologies Corp., mCloud Technologies (USA) Inc., nGRAIN (Canada) Corporation, mCloud Technologies (Canada) Holdings Inc., and Field Diagnostic Services, Inc. · creditor: ATB Financial · currency: CAD · security: General Security Agreements (GSAs) dated June 18, 2021 (Borrower, mCloud Technologies, mCloud USA, nGRAIN), November 8, 2021 (Field), and November 22, 2021 (mCloud Canada) over all present and after-acquired personal property; Unlimited Continuing Guarantees (with Postponement and Assignment of Claims) from each Guarantor; Negative Pledge Agreement dated June 18, 2021 over Borrower's intellectual property; Blocked Account Agreement dated June 17, 2021 over HSBC blocked accounts