AMENDED AND RESTATED PATENT SECURITY AGREEMENT
Exhibit 10.14
This AMENDED AND RESTATED PATENT SECURITY AGREEMENT (this “Agreement”), dated as of
March 25, 2008 between MONEYGRAM INTERNATIONAL, INC., a Delaware corporation (“Grantor”),
and JPMORGAN CHASE BANK, N.A., as Collateral Agent for the benefit of the Secured Parties (the
“Collateral Agent”), amends and restates in its entirety that certain Patent Security
Agreement, dated as of January 25, 2008 (the “Existing Patent Security Agreement”), which
continues in effect as so amended and restated as set forth herein.
W I T N E S S E T H:
WHEREAS, Grantor has entered into that certain Second Amended and Restated Credit Agreement
dated as of even date herewith by and among Grantor, the Borrower, the Administrative Agent and the
financial institutions so designated on the Commitment Schedule thereto (as amended, restated,
amended and restated, supplemented or otherwise modified from time to time, the “Credit
Agreement”);
WHEREAS, Grantor has entered into that certain Amended and Restated Security Agreement of even
date herewith (as amended, restated, amended and restated, modified or supplemented from time to
time, the “Security Agreement”) with the Collateral Agent, for the benefit of the Secured
Parties, pursuant to which Grantor has granted to the Collateral Agent a security interest in
substantially all the assets of Grantor, including all right, title and interest of Grantor in, to
and under all now owned and hereafter acquired Patents, and all proceeds thereof, to secure the
payment of the Secured Obligations;
WHEREAS, capitalized terms used but not defined herein are used in the manner provided in the
Security Agreement and the Credit Agreement, as applicable;
WHEREAS, Grantor owns the registered and pending Patents listed on Schedule 1 annexed
hereto; and
NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are
hereby acknowledged, Grantor does hereby grant to the Collateral Agent, for the benefit of the
Secured Parties, a continuing security interest in all of Grantor’s right, title and interest in,
to and under the following (all of the following items or types of property being herein
collectively referred to as the “Patent Collateral”), whether presently existing or
hereafter created or acquired:
| (1) | each Patent, including without limitation, each registered and pending Patent referred to in Schedule 1 annexed hereto, together with any reissues, continuations or extensions thereof; and |
- 1 -
| (2) | all proceeds of the foregoing, including, without limitation, any claim by Grantor against third parties for past, present or future infringement of any Patent, including, without limitation, any registered and pending Patent referred to in Schedule 1 annexed hereto. |
The security interests are granted in furtherance, and not in limitation, of the security interests
granted to the Collateral Agent, for the benefit of the Secured Parties, pursuant to the Security
Agreement. Grantor hereby acknowledges and affirms that the rights and remedies of Collateral
Agent with respect to the security interest in the Patent Collateral made and granted hereby are
more fully set forth in the Security Agreement, the terms and provisions of which are incorporated
by reference herein as if fully set forth herein. In the event of any conflict between the terms
of this Agreement and the Security Agreement, the terms of the Security Agreement shall govern.
This Agreement amends and restates in its entirety the Existing Patent Security Agreement
which continues in effect as so amended and restated as set forth herein. Without limiting the
generality of the immediately preceding sentence, the Liens granted under the Existing Patent
Security Agreement (other than Permitted Liens), as so amended and restated as set forth in this
Agreement, shall in all respects be and remain continuing, securing the payment of all of the
Secured Obligations. The Grantor hereby reaffirms the security interests and Liens granted to the
Collateral Agent for its benefit and the ratable benefit of the Lenders pursuant to the Existing
Patent Security Agreement as so amended and restated herein.
[signature page follows]
- 2 -
IN WITNESS WHEREOF, Grantor has caused this Patent Security Agreement to be duly executed by
its duly authorized officer thereunto as of the date first written above.
| MONEYGRAM INTERNATIONAL, INC. | ||||
| By: | /s/ Xxxxx X. Xxxxxx | |||
| Name: | Xxxxx X. Xxxxxx | |||
| Title: | Executive Vice President and Chief Financial Officer | |||
| Acknowledged: | ||||
| JPMORGAN CHASE BANK, N.A., as Collateral | ||||
| Agent for the benefit of the Secured Parties | ||||
By: |
/s/ Xxxxx Xxxxxx | |||
Name:
|
Xxxxx Xxxxxx | |||
Title:
|
Vice President | |||
Signature
Page to Patent Security
Agreement
Agreement
