Ontario · Receivership (court-appointed)
Application Record of The Toronto-Dominion Bank (for motion returnable November 8, 2022)
Application / notice of application · 8 November 2022
What we verified from this filing5 verified
- secured creditorsnote: s.244 BIA demand for payment issued October 7, 2022, requiring payment by October 17, 2022 · page: 12 · as of: 2022-10-05 · amount: 9029.26 · debtor: The Urban Environment Centre (Toronto), c.o.b. Greensaver (UECT) · creditor: The Toronto-Dominion Bank · currency: CAD · security: TD Visa Facility (credit limit $20,000.00) secured by the same UECT GSA and Assignment of Term Deposits securing the Demand Loan
- secured creditorsnote: Related party: wholly owned subsidiary of UECT acting as guarantor; guarantee is unlimited, no separate stated balance · page: 40 · debtor: Greensaver Home Energy Services Inc. · creditor: The Toronto-Dominion Bank · currency: CAD · security: General Security Agreement dated April 4, 2018 over Greensaver Inc.'s assets and undertaking, securing an unlimited guarantee dated April 4, 2018 of UECT's Demand Loan and Visa Facility obligations; TD holds first ranking security over all assets and undertaking of Greensaver Inc.
- secured creditorsnote: Related party: wholly owned subsidiary of a subsidiary wholly owned by Greensaver Inc., acting as guarantor; guarantee is unlimited, no separate stated balance · page: 40 · debtor: Housemaster Toronto Inc. · creditor: The Toronto-Dominion Bank · currency: CAD · security: General Security Agreement dated April 4, 2018 over Housemaster Inc.'s assets and undertaking, securing an unlimited guarantee dated April 4, 2018 of UECT's Demand Loan and Visa Facility obligations; TD holds first ranking security over all assets and undertaking of Housemaster Inc.
- secured creditorsnote: Balance as of October 5, 2022 was stated as $3,873,253.31 at 6.7% interest (Notice of Application, p.12); September 26, 2022 Compliance Certificate reduced the Borrowing Base to $3,332,694.00, producing a borrowing base shortage of $667,000 as of Aug 31, 2022, and $514,120.79 as of Oct 17, 2022; loan repayable on demand; s.244 BIA demand issued October 7, 2022 · page: 43 · as of: 2022-10-17 · amount: 3846814.79 · debtor: The Urban Environment Centre (Toronto), c.o.b. Greensaver (UECT) · creditor: The Toronto-Dominion Bank · currency: CAD · security: General Security Agreement ("UECT GSA") dated May 5, 2018 over UECT's assets and undertaking (first ranking over inventory and accounts receivable per PPSA registration since 2009, renewed); Assignment of Term Deposits and credit balances dated April 4, 2018 in the amount of $310,000.00 (collateral); Demand Operating Facility (TDOL Agreement dated March 5, 2015 as amended) with a credit limit equal to the lesser of $4,000,000.00 or the calculated Borrowing Base
- secured creditorsnote: Aggregated serialized-equipment/PMSI financiers per PPSA search results dated October 5, 2022; individual component amounts as listed; not summed as no total is stated in the document · page: 184 · as of: 2022-10-05 · debtor: The Urban Environment Centre (Toronto) / Greensaver (various registrations) · creditor: PPSA equipment financiers (PMSI class) · currency: CAD · security: Mercedes-Benz Financial Services Canada Corporation - two PMSI registrations, $57,660.98 each, over 2019 Mercedes-Benz vehicles, maturity Sept 20, 2024; Grande National Leasing Inc. - $104,133 over a 2020 tag trailer and additional items per Lease 6452; Vault Credit Corporation - PMSI over a 2020 Ford F150, amount not stated; Blue Chip Leasing Corporation - equipment lease registration, amount not stated; ARI Financial Services Inc. - blanket registration over all present and future motor vehicles and automotive equipment leased to the debtor, amount not stated