INTELLECTUAL PROPERTY SECURITY AGREEMENT
This
Intellectual Property Security Agreement is entered into as of the Effective
Date by and between SILICON VALLEY BANK ("Bank") and DERYCZ SCIENTIFIC, INC.
("Grantor").
RECITALS
A. A. Bank
has agreed to make certain advances of money and to extend certain financial
accommodation to Grantor (the "Loans") in the amounts and manner set forth in
that certain Loan and Security Agreement by and between Bank, Grantor and the
other Borrowers party thereto dated the Effective Date (as the same may be
amended, modified or supplemented from time to time, the "Loan Agreement";
capitalized terms used herein are used as defined in the Loan
Agreement). Bank is willing to make the Loans to Grantor, but only
upon the condition, among others, that Grantor shall grant to Bank a security
interest in certain Copyrights, Trademarks, Patents, and Mask Works to secure
the obligations of Grantor under the Loan Agreement.
B. Pursuant
to the terms of the Loan Agreement, Grantor has granted to Bank a security
interest in all of Grantor's right, title and interest, whether presently
existing or hereafter acquired, in, to and under all of the
Collateral.
NOW,
THEREFORE, for good and valuable consideration, receipt of which is hereby
acknowledged, and intending to be legally bound, as collateral security for the
prompt and complete payment when due of its obligations under the Loan
Agreement, Grantor hereby represents, warrants, covenants and agrees as
follows:
AGREEMENT
To secure
its obligations under the Loan Agreement, Grantor grants and pledges to Bank a
security interest in all of Grantor's right, title and interest in, to and under
its Intellectual Property Collateral (including without limitation those
Copyrights, Patents, Trademarks and Mask Works listed on Schedules A, B, C, and
D hereto), and including without limitation all proceeds thereof (such as, by
way of example but not by way of limitation, license royalties and proceeds of
infringement suits), the right to xxx for past, present and future
infringements, all rights corresponding thereto throughout the world and all
re-issues, divisions continuations, renewals, extensions and
continuations-in-part thereof.
This
security interest is granted in conjunction with the security interest granted
to Bank under the Loan Agreement. The rights and remedies of Bank
with respect to the security interest granted hereby are in addition to those
set forth in the Loan Agreement and the other Loan Documents, and those which
are now or hereafter available to Bank as a matter of law or
equity. Each right, power and remedy of Bank provided for herein or
in the Loan Agreement or any of the Loan Documents, or now or hereafter existing
at law or in equity shall be cumulative and concurrent and shall be in addition
to every right, power or remedy provided for herein and the exercise by Bank of
any one or more of the rights, powers or remedies provided for in this
Intellectual Property Security Agreement, the Loan Agreement or any of the other
Loan Documents, or now or hereafter existing at law or in equity, shall not
preclude the simultaneous or later exercise by any person, including Bank, of
any or all other rights, powers or remedies.
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IN
WITNESS WHEREOF, the parties have caused this Intellectual Property Security
Agreement to be duly executed by its officers thereunto duly authorized as of
the first date written above.
GRANTOR:
|
|||||
Address of Grantor: | DERYCZ SCIENTIFIC, INC. | ||||
0000 Xxxxxxxxxxx Xxxx., Xxxxx X |
By:
|
/s/ Xxxxx Xxxxxx | |||
Xxxxx Xxxxxx, XX 00000 | |||||
Title: | President | ||||
Attn: | General Counsel |
BANK:
|
|||||
Address of Grantor: | SILICON VALLEY BANK | ||||
0000 Xxxxxx Xxxxx |
By:
|
/s/ Xxxxx Xxxx | |||
Xxxxx Xxxxx, XX 00000-0000 | |||||
Title: | Deal Team Leader | ||||
Attn: |
2
EXHIBIT A
Copyrights
Description
|
Registration Number
|
Registration Date
|
3
EXHIBIT B
Patents
Description
|
Patent/App. No.
|
File Date
|
4
EXHIBIT C
Trademarks
U.S. Service Xxxx
Registrations Owned by Derycz Scientific, Inc.
Xxxx
|
Reg.
No.
|
Filing
Date
|
Reg.
Date
|
Services
|
3,778,805
|
June
19, 2008
|
April
20, 2010
|
Class
40-Printing of booklets, catalogs, pamphlets, direct mail pieces,
newsletters, business stationery, and articles from medical and technical
journals
|
|
3,646,052
|
June
19, 2008
|
June
30, 2009
|
Class
40-Printing of booklets, catalogs, pamphlets, direct mail pieces,
newsletters, business stationery, and articles from medical and technical
journals
|
|
3,646,051
|
June
19, 2008
|
June
30, 2009
|
Class
40-Printing of booklets, catalogs, pamphlets, direct mail pieces,
newsletters, business stationery, and articles from medical and technical
journals
|
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