REPRESENTATIONS AND WARRANTIES 48. 11.1 Mutual Representations, Warranties, and Covenants 48 11.2 Additional Representations, Warranties, and Covenants of Surmodics 49 11.3 DISCLAIMER OF WARRANTIES 51 12.1 Indemnification of Surmodics 52 12.2 Indemnification of Abbott 52 12.3 Indemnification Procedures 52 12.4 Special, Indirect and Other Losses 54 12.5 Insurance 55 13.1 Term 55 13.2 Termination for Material Breach 55 13.3 Additional Termination Rights by Abbott 56 13.4 Termination for Patent Challenge 57 13.5 Termination for Insolvency 57 13.6 Rights in Bankruptcy 57 13.7 Consequences of Expiration or Termination 58 13.8 Remedies 58 CERTAIN INFORMATION IN THIS EXHIBIT HAS BEEN OMITTED AND FILED SEPARATELY WITH THE COMMISSION. CONFIDENTIAL TREATMENT HAS BEEN REQUESTED WITH RESPECT TO THE OMITTED PORTIONS. 13.9 Accrued Rights; Surviving Obligations 58 14.1 Force Majeure 58 14.2 Export Control 59 14.3 Change in Control of Surmodics 59 14.4 Assignment 59 14.5 Subcontracting 60 14.6 Severability 61 14.7 Dispute Resolution 61 14.8 Governing Law, Jurisdiction, and Venue 61 14.9 Notices 62 14.10 Entire Agreement; Amendments 63 14.11 English Language 64 14.12 Equitable Relief 64 14.13 Waiver and Non-Exclusion of Remedies 64 14.14 No Benefit to Third Parties 65 14.15 Further Assurance 64 14.16 Relationship of the Parties 65 14.17 Non-Solicitation of Employees 65 14.18 References 65 14.19 Construction 65 14.20 Counterparts 65 CERTAIN INFORMATION IN THIS EXHIBIT HAS BEEN OMITTED AND FILED SEPARATELY WITH THE COMMISSION. CONFIDENTIAL TREATMENT HAS BEEN REQUESTED WITH RESPECT TO THE OMITTED PORTIONS. This Development and Distribution Agreement (the “Agreement”) is made and entered into effective as of February 26, 2018 (the “Effective Date”) by and between Surmodics, Inc., a Minnesota corporation (“Surmodics”), and Xxxxxx Vascular, Inc., a subsidiary of Xxxxxx Laboratories, a Delaware corporation (“Abbott”). Surmodics and Abbott are sometimes referred to herein individually as a “Party” and collectively as the “Parties.”
REPRESENTATIONS AND WARRANTIES 48. Section 5.1 Existence and Qualification 48 Section 5.2 Authority; Noncontravention 48 Section 5.3 Financial Position 48 Section 5.4 Payment of Taxes 49 Section 5.5 Accuracy of Submitted Information; Omissions 49 Section 5.6 Government Contracts/Government Subcontracts 49 Section 5.7 No Defaults or Liabilities 49 Section 5.8 No Violations of Law 49 Section 5.9 Litigation and Proceedings 49 Section 5.10 Security Interest in the Collateral 50 Section 5.11 Principal Place of Business; Location of Books and Records 50 Section 5.12 Fiscal Year 50 Section 5.13 Pension Plans 50 Section 5.14 O.S.H.A., XXX and Environmental Compliance 51 Section 5.15 Intellectual Property 51 Section 5.16 Existing or Pending Defaults; Material Contracts 52 Section 5.17 Leases and Real Property 52 Section 5.18 Labor Relations 52 Section 5.19 Assignment of Contracts 52 Section 5.20 Contribution Agreement 52 Section 5.21 Registered Names 52 Section 5.22 Ownership of the VSE Entities 52 Section 5.23 Solvency 52 Section 5.24 Foreign Assets Control Regulations, Etc. 53 Section 5.25 Federal Reserve Regulations 53 Section 5.26 Commercial Tort Claims 53 Section 5.27 Letter of Credit Rights 53 Section 5.28 Investment Company Act 53 Section 5.29 [Reserved] 53 Section 5.30 EEA Financial Institution. 53 Section 5.31 Margin Stocks. 53 Section 5.32 Survival of Representations and Warranties 53 Section 5.33 Beneficial Ownership Certification 53
REPRESENTATIONS AND WARRANTIES 48. Organization; Power; Special Purpose Entity 48 4.2 Authority; Enforceability 49 4.3 Ownership of Loan Parties 49 4.4 No Conflict 49 4.5 Consents and Authorizations 49 4.6 Financial Information 50
REPRESENTATIONS AND WARRANTIES 48. Section 4.1 Representations and Warranties of the SPV and the Initial Servicer 48 ARTICLE V CONDITIONS PRECEDENT 56 Section 5.1 Conditions Precedent to Closing 56 Section 5.2 Conditions Precedent to Initial Investment 57 Section 5.3 Conditions Precedent to All Investments 59 Section 5.4 Reinvestments 59 ARTICLE VI COVENANTS 60
REPRESENTATIONS AND WARRANTIES 48. Section 4.01 Representations and Warranties of the Borrower 48
REPRESENTATIONS AND WARRANTIES 48. Section 4.01..... Existence 48 Section 4.02..... Power 48 Section 4.03..... Authorization and Approvals 49 Section 4.04..... Enforceable Obligations 49 Section 4.05..... Financial Statements 49 Section 4.06..... True and Complete Disclosure 49 Section 4.07..... Litigation; Compliance with Laws 49 Section 4.08..... Use of Proceeds 50 Section 4.09..... Investment Company Act 50 Section 4.10..... Public Utility Holding Company Act 50 Section 4.11..... Taxes 50 Section 4.12..... Pension Plans 51 Section 4.13..... Condition of Property; Casualties 51 Section 4.14..... Insurance 52 Section 4.15..... No Burdensome Restrictions; No Defaults 52 Section 4.16..... Environmental Condition 52 Section 4.17..... Title to Property, Etc 53 Section 4.18..... Security Interests 53 Section 4.19..... Subsidiaries; Corporate Structure 53 Section 4.20..... Citizenship 53 Section 4.21..... Labor Relations 53 Section 4.22..... Intellectual Property 54 Section 4.23..... Solvency 54
REPRESENTATIONS AND WARRANTIES 48. Representations and Warranties of the Credit Parties- 48 - Reliance and Repetition- 59 - Survival and Inclusion- 59 - Acknowledgements and Covenants of the Lenders- 59 - Representations and Warranties of the Lenders- 61 - Consent to Disclosure of Certain Information- 62 -
REPRESENTATIONS AND WARRANTIES 48. Section 4.1. Existence; Power 48
REPRESENTATIONS AND WARRANTIES 48. 5.1 Corporate Existence 48 5.2 Litigation and Contingent Obligations 48 5.3 No Breach 48 5.4 Corporate Action 48 5.5 Approvals 49 5.6 Use of Loans 49 5.7 ERISA 49 5.8 Taxes 49 5.9 Subsidiaries 49 5.10 No Material Adverse Change 50 5.11 Financial Statements 50 5.12 No Material Misstatements 50 5.13 Properties 50 5.14 Environmental Matters 50 5.15 Investment Company Act 51 5.16 Anti-Terrorism; Anti-Money Laundering 51 5.17 Affected Financial Institution 51 ARTICLE VI COVENANTS 51 6.1 Preservation of Existence and Business 51 6.2 Preservation of Property 51 6.3 Payment of Taxes 51 6.4 Compliance with Applicable Laws and Contracts 52 6.5 Preservation of Loan Document Enforceability 52 6.6 Insurance 52 6.7 Use of Proceeds 52
REPRESENTATIONS AND WARRANTIES 48. Organization; Powers 48 Authorization; Enforceability 48 Governmental Approvals; No Conflicts 48 Financial Condition; No Material Adverse Change 48 Properties 49 Litigation and Environmental Matters 49 Compliance with Laws and Agreements 50 Investment Company Act Status 50 Taxes 50 ERISA 50 Disclosure 50 Subsidiaries 51 Labor Matters 51 Solvency 51 Margin Securities 51 TABLE OF CONTENTS, Page i of vi Security Documents 52 Use of Proceeds 52 Regulation H 52 Patriot Act 52 Effective Date 52 Each Credit Event 55
