PLEDGE AND SECURITY AGREEMENT

Exhibit 10.3

 

PLEDGE AND SECURITY AGREEMENT

 

THIS PLEDGE AND SECURITY AGREEMENT (as the same may be amended, restated, supplemented or otherwise modified from time to time, this “Security Agreement”) is entered into as of November [    ], 2008 by and between ACUSPHERE, INC., a Delaware corporation (the “Grantor”), and CEPHALON, INC., a Delaware corporation (the “Secured Party”).

 

PRELIMINARY STATEMENT

 

The Grantor is entering into this Security Agreement in order to induce Secured Party to make a loan of $15,000,000 to the Grantor that is evidenced by that certain Senior Convertible Note of event date herewith payable by the Grantor to Secured Party (the “Note”).

 

ACCORDINGLY, the Grantor and Secured Party hereby agree as follows:

 

ARTICLE I

DEFINITIONS

 

1.1.                              Terms Defined in the Note.  All capitalized terms used herein and not otherwise defined shall have the meanings assigned to such terms in the Note.

 

1.2.                              Terms Defined in Delaware UCC.  Terms defined in the Delaware UCC which are not otherwise defined in this Security Agreement are used herein as defined in the Delaware UCC.

 

1.3.                              Definitions of Certain Terms Used Herein.  As used in this Security Agreement, in addition to the terms defined in the Preliminary Statement, the following terms shall have the following meanings:

 

“Accounts” shall have the meaning set forth in Article 9 of the Delaware UCC.

 

“Article” means a numbered article of this Security Agreement, unless another document is specifically referenced.

 

“Chattel Paper” shall have the meaning set forth in Article 9 of the Delaware UCC.

 

“Collateral” means all Accounts, Chattel Paper, Commercial Tort Claims, Copyrights, Deposit Accounts, Documents, Equipment, Farm Products, Fixtures, General Intangibles, Goods, Instruments, Inventory, Investment Property, letters of credit, Letter-of-Credit Rights, Licenses, Patents, Pledged Deposits, Supporting Obligations, Trademarks and Other Collateral, wherever located, in which the Grantor now has or hereafter acquires any right or interest, and the

 


 

proceeds (including Stock Rights), insurance proceeds and products thereof, together with all books and records, customer lists, credit files, computer files, programs, printouts and other computer materials and records related thereto; provided, however that notwithstanding any provision herein to the contrary, the Collateral shall not include any Excluded Property.

 

“Commercial Tort Claims” means those certain currently existing commercial tort claims, as defined in the Delaware UCC of the Grantor, including each commercial tort claim specifically described in Exhibit “F”.

 

“Control” shall have the meaning set forth in Article 8 or, if applicable, in Section 9-104, 9-105, 9-106 or 9-107 of Article 9 of the Delaware UCC.

 

“Copyrights” means, with respect to any Person, all of such Person’s right, title, and interest in and to the following:  (a) all copyrights, rights and interests in copyrights, works protectable by copyright, copyright registrations, and copyright applications; (b) all extensions of any of the foregoing; (c) all income, royalties, damages, and payments now or hereafter due and/or payable under any of the foregoing, including, without limitation, damages or payments for past or future infringements for any of the foregoing; (d) the right to xxx for past, present, and future infringements of any of the foregoing; and (e) all rights corresponding to any of the foregoing throughout the world.

 

“Delaware UCC” means the Delaware Uniform Commercial Code as in effect from time to time.

 

“Deposit Accounts” shall have the meaning set forth in Article 9 of the Delaware UCC.

 

“Documents” shall have the meaning set forth in Article 9 of the Delaware UCC.

 

“Equipment” shall have the meaning set forth in Article 9 of the Delaware UCC.

 

“Excluded Property” means (a) (i) all “Collateral” as defined in the Master Security Agreement between General Electric Capital Corporation and the Grantor dated as of April 16, 2004, as amended prior to the date hereof, (ii) all “Collateral” as defined in the Master Security Agreement between Oxford Finance Corporation and the Grantor dated as of June 20, 2005, as amended prior to the date hereof and (iii) all “Property” as defined in the Leasehold Mortgage and Security Agreement between the Grantor and Massachusetts Development Finance Agency dated as of March 24, 2005, as amended prior to the date hereof, and (b) any Intellectual Property, license, permit, contract or agreement to the extent that, but only to the extent that and for so long as, a grant of a security interest therein constitutes (or would constitute) or results (or would result) in the abandonment, invalidation or unenforceability of any right, title or interest of the Grantor in such Intellectual Property or results (or would result) in a breach of the terms of, or constitutes (or would constitute) a default under, any such license, permit, contract or agreement.

 

“Exhibit” refers to a specific exhibit to this Security Agreement, unless another document is specifically referenced.

 

“Farm Products” shall have the meaning set forth in Article 9 of the Delaware UCC.

 

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“Fixtures” shall have the meaning set forth in Article 9 of the Delaware UCC.

 

“GAAP” means generally accepted accounting principles in the United States and applied on a consistent basis

 

“General Intangibles” shall have the meaning set forth in Article 9 of the Delaware UCC and, in any event, includes payment intangibles, contract rights, rights to payment, rights arising under common law, statutes, or regulations, choses or things in action, goodwill (including the goodwill associated with any Trademark), Patents, Trademarks, Copyrights, URLs and domain names, Industrial Designs, other industrial or Intellectual Property or rights therein or applications therefor, whether under license or otherwise, programs, programming materials, blueprints, drawings, purchase orders, customer lists, monies due or recoverable from pension funds, route lists, rights to payment and other rights under any royalty or licensing agreements, including Intellectual Property Licenses, infringement claims, computer programs, information contained on computer disks or tapes, software, literature, reports, catalogs, pension plan refunds, pension plan refund claims, insurance premium rebates, tax refunds, and tax refund claims, interests in a partnership or limited liability company which do not constitute a security under Article 8 of the Delaware UCC, and any other personal property other than Commercial Tort Claims, money, Accounts, Chattel Paper, Deposit Accounts, Goods, Investment Property, negotiable Collateral, and oil, gas, or other minerals before extraction.

 

“Goods” shall have the meaning set forth in Article 9 of the Delaware UCC.

 

“Industrial Designs” means (i) registered industrial designs and industrial design applications, and also includes registered industrial designs and industrial design applications listed in Exhibit “B”, (ii) all renewals, divisions and any industrial design registrations issuing thereon and any and all foreign applications corresponding thereto, (iii) all income, royalties, damages and payments now and hereafter due or payable under and with respect thereto, including payments under all licenses entered into in connection therewith and damages and payments for past or future infringements thereof, (iv) the right to xxx for past, present and future infringements thereof, and (v) all of the Grantor’s rights corresponding thereto throughout the world.

 

“Instruments” shall have the meaning set forth in Article 9 of the Delaware UCC.

 

“Intellectual Property” means all Patents, Trademarks, Copyrights and any other intellectual property.

 

“Inventory” shall have the meaning set forth in Article 9 of the Delaware UCC.

 

“Investment Property” shall have the meaning set forth in Article 9 of the Delaware UCC.

 

“Letter of Credit Rights” shall have the meaning set forth in Article 9 of the Delaware UCC.

 

“Licenses” means, with respect to any Person, all of such Person’s right, title, and interest in and to (a) any and all licensing agreements or similar arrangements in and to its Patents,

 

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Copyrights, or Trademarks, (b) all income, royalties, damages, claims, and payments now or hereafter due or payable under and with respect thereto, including, without limitation, damages and payments for past and future breaches thereof, and (c) all rights to xxx for past, present, and future breaches thereof.

 

“Lien” means any mortgage, pledge, deed of trust, assignment, lien, charge, encumbrance or security interest of any kind, or the interest of a vendor or lessor under any conditional sale agreement, capital lease or other title retention agreement, but excluding easements, rights of way or similar encumbrances on real property which are in the ordinary course and which do not materially affect the value, use and insurability of title of such real property.

 

“Material Adverse Effect” means with respect to the Grantor, a material adverse change in or affecting the business, properties, assets, liabilities, operations, results of operations (financial or otherwise), conditions or prospects of the Grantor and its subsidiaries taken as a whole, or upon the ability of the Grantor to perform its obligations under this Agreement or the Note.

 

“Note Purchase Agreement” means that certain Note Purchase Agreement dated as of October 24, 2008, as amended or otherwise modified from time to time, between the Secured Party and the Grantor.

 

“Other Collateral” means any property of the Grantor, not included within the defined terms Accounts, Chattel Paper, Commercial Tort Claims, Copyrights, Deposit Accounts, Documents, Equipment, Fixtures, Farm Products, General Intangibles, Goods, Instruments, Inventory, Investment Property, Letter-of-Credit Rights, Licenses, Patents, Pledged Deposits, Supporting Obligations and Trademarks, including, without limitation, all cash on hand, letters of credit, Stock Rights or any other deposits (general or special, time or demand, provisional or final) with any bank or other financial institution, it being intended that the Collateral include all real and personal property of the Grantor other than Excluded Property.

 

“Patents” means, with respect to any Person, all of such Person’s right, title, and interest in and to: (a) any and all patents and patent applications; (b) all inventions and improvements described and claimed therein; (c) all reissues, divisions, continuations, extensions, and continuations-in-part thereof; (d) all income, royalties, damages, claims, and payments now or hereafter due or payable under and with respect thereto, including, without limitation, damages and payments for past and future infringements thereof; (e) all rights to xxx for past, present, and future infringements thereof; and (f) all rights corresponding to any of the foregoing throughout the world.

 

“Person” means any natural person, corporation, division of a corporation, business trust, joint venture, association, company, partnership, unincorporated organization or other legal entity, or a government or any agency or political subdivision thereof.

 

“Pledged Deposits” means all time deposits of money (other than Deposit Accounts and Instruments), whether or not evidenced by certificates, which the Grantor may from time to time designate as pledged to Secured Party as security for any Secured Obligations, and all rights to receive interest on said deposits.

 

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“Receivables” means the Accounts, Chattel Paper, Documents, Investment Property, Instruments or Pledged Deposits, and any other rights or claims to receive money which are General Intangibles or which are otherwise included as Collateral.

 

“Section” means a numbered section of this Security Agreement, unless another document is specifically referenced.

 

“Secured Obligations” means all the payment, performance and indemnification obligations, covenants and duties of the Grantor now or hereafter existing under this Security Agreement, the Note or any other “Transaction Agreement” (as defined in the Note Purchase Agreement), whether for principal, interest, fees, expenses, reimbursement, indemnification, performance or otherwise.  Secured Obligations shall include all interest which accrues after the commencement of any case or proceeding in bankruptcy after the insolvency of, or for the reorganization of the Grantor, whether or not allowed in such proceeding.

 

“Security” shall have the meaning set forth in Article 8 of the Delaware UCC.

 

“Stock Rights” means any securities, dividends or other distributions and any other right or property which the Grantor shall receive or shall become entitled to receive for any reason whatsoever with respect to, in substitution for or in exchange for any securities or other ownership interests in a corporation, partnership, joint venture or limited liability company constituting Collateral and any securities, any right to receive securities and any right to receive earnings, in which the Grantor now has or hereafter acquires any right, issued by an issuer of such securities.

 

“Supporting Obligation” shall have the meaning set forth in Article 9 of the Delaware UCC.

 

“Trademarks” means, with respect to any Person, all of such Person’s right, title, and interest in and to the following:  (a) all trademarks (including service marks), trade names, trade dress, and trade styles and the registrations and applications for registration thereof and the goodwill of the business symbolized by the foregoing; (b) all licenses of the foregoing, whether as licensee or licensor; (c) all renewals of the foregoing; (d) all income, royalties, damages, and payments now or hereafter due or payable with respect thereto, including, without limitation, damages, claims, and payments for past and future infringements thereof; (e) all rights to xxx for past, present, and future infringements of the foregoing, including the right to settle suits involving claims and demands for royalties owing; and (f) all rights corresponding to any of the foregoing throughout the world.

 

The foregoing definitions shall be equally applicable to both the singular and plural forms of the defined terms.

 

ARTICLE II

GRANT OF SECURITY INTEREST

 

Thee Grantor hereby pledges, collaterally assigns and grants to Secured Party, a security interest in all of the Grantor’s right, title and interest, whether now owned or hereafter acquired,

 

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in and to the Collateral to secure the prompt and complete payment and performance of the Secured Obligations.  For the avoidance of doubt, the grant of a security interest herein shall not be deemed to be an assignment of any intellectual property rights owned by the Grantor.

 

ARTICLE III

REPRESENTATIONS AND WARRANTIES

 

The Grantor represents and warrants to Secured Party as of the date hereof, that:

 

3.1.                              Title, Authorization, Validity and Enforceability.  The Grantor has good and valid rights in or the power to transfer the Collateral owned by it and title to the Collateral with respect to which it has purported to grant a security interest hereunder, free and clear of all Liens except for Permitted Liens, and has full corporate power and authority to grant to Secured Party the security interest in such Collateral pursuant hereto.  The execution and delivery by the Grantor of this Security Agreement have been duly authorized by proper corporate proceedings, and this Security Agreement constitutes a legal, valid and binding obligation of the Grantor and creates a security interest which is enforceable against the Grantor in all Collateral it now owns or hereafter acquires, except as enforceability may be limited by (i) bankruptcy, insolvency, fraudulent conveyance, reorganization or similar laws relating to or affecting the enforcement of creditors’ rights generally, (ii) general equitable principles (whether considered in a proceeding in equity or at law), and (iii) requirements of reasonableness, good faith and fair dealing.  When financing statements have been filed in the appropriate offices against the Grantor in the locations listed in Exhibit “E”, the Secured Party will have a fully perfected first priority security interest in the Collateral owned by the Grantor in which a security interest may be perfected by filing of a financing statement under the Delaware UCC, subject only to Permitted Liens.

 

3.2.                              Conflicting Laws and Contracts.  Neither the execution and delivery by the Grantor of this Security Agreement, the creation and perfection of the security interest in the Collateral granted hereunder, nor compliance by the Grantor with the terms and provisions hereof will violate (i) any law, rule, regulation, order, writ, judgment, injunction, decree or award binding on the Grantor, or (ii) the Grantor’s certificate of incorporation or by-laws, or (iii) the provisions of any material indenture, instrument or agreement to which the Grantor is a party or is subject, or by which it, or its property may be bound or affected, or conflict with or constitute a default thereunder, or result in or require the creation or imposition of any Lien in, of or on the property of the Grantor pursuant to the terms of any such indenture, instrument or agreement (other than any Lien of Secured Party).

 

3.3.                              Principal Location.  The Grantor’s mailing address and the location of its place of business (if it has only one) or its chief executive office (if it has more than one place of business), is disclosed in Exhibit “A”; the Grantor has no other places of business except those set forth in Exhibit “A”.

 

3.4.                              Property Locations.  The Inventory, Equipment and Fixtures of the Grantor are located solely at the locations of the Grantor described in Exhibit “A”.  All of said locations are owned by the Grantor except for locations (i) which are leased by the Grantor as lessee and designated in Part B of Exhibit “A” and (ii) at which Inventory is held in a public warehouse or

 

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is otherwise held by a bailee or on consignment by the Grantor as designated in Part C of Exhibit “A”, with respect to which Inventory the Grantor has delivered bailment agreements, warehouse receipts, financing statements or other documents satisfactory to Secured Party to protect Secured Party’s security interest in such Inventory.

 

3.5.                              No Other Names; Etc..  Within the five-year period preceding the date hereof, the Grantor has not conducted business under any name, changed its jurisdiction of formation, merged with or into or consolidated with any other Person, except as disclosed in Exhibit “A”.  The name in which the Grantor has executed this Security Agreement is the exact name as it appears in the Grantor’s organizational documents, as amended, as filed with the Grantor’s jurisdiction of organization as of the date hereof.

 

3.6.                              No Default.  No Event of Default or event which with the passage of time or giving of notice, or both, would constitute an Event of Default, exists.

 

3.7.                              Accounts and Chattel Paper.  The names of the obligors, amounts owing, due dates and other information with respect to the Accounts and Chattel Paper owned by the Grantor are and will be correctly stated in all records of the Grantor relating thereto and in all invoices and reports with respect thereto furnished to Secured Party by the Grantor from time to time.  As of the time when each Account or each item of Chattel Paper arises, the Grantor shall be deemed to have represented and warranted that such Account or Chattel Paper, as the case may be, and all records relating thereto, are genuine and in all respects what they purport to be.

 

3.8.                              Filing Requirements.  None of the Equipment owned by the Grantor and constituting part of the Collateral is covered by any certificate of title, except for the vehicles described in Part A of Exhibit “B”.  None of the Collateral owned by the Grantor is of a type for which security interests or liens may be perfected by filing under any federal statute except for (i) the vehicles described in Part B of Exhibit “B” and (ii) Patents, Trademarks and Copyrights held by the Grantor and described in Part C of Exhibit “B”.  The legal description, county and street address of the property on which any Fixtures owned by the Grantor are located is set forth in Exhibit “C” together with the name and address of the record owner of each such property.

 

3.9.                              No Financing Statements.  No financing statement describing all or any portion of the Collateral which has not lapsed or been terminated naming the Grantor as debtor has been filed in any jurisdiction except financing statements (i) naming Secured Party as Secured Party and (ii) in respect of Permitted Liens.

 

3.10.                        Federal Employer Identification Number; State Organization Number; Jurisdiction of Organization.  The Grantor’s federal employer identification number is, and if the Grantor is a registered organization, the Grantor’s State of organization, type of organization and State of organization identification number are, listed in Exhibit “G”.

 

3.11.                        Pledged Securities and Other Investment Property.  Exhibit “D” sets forth a complete and accurate list of the Instruments, Securities and other Investment Property delivered to Secured Party.  The Grantor is the direct and beneficial owner of each Instrument, Security and other type of Investment Property listed in Exhibit “D” as being owned by it, free and clear of any Liens, except for the security interest granted to the Secured Party hereunder.  The

 

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Grantor further represents and warrants that (i) all such Instruments, Securities or other types of Investment Property which are shares of stock in a corporation or ownership interests in a partnership or limited liability company have been (to the extent such concepts are relevant with respect to such Instrument, Security or other type of Investment Property) duly and validly issued, are fully paid and non-assessable and constitute the percentage of the issued and outstanding shares of stock (or other equity interests) of the respective issuers thereof indicated in Exhibit “D” hereto and (ii) with respect to any certificates delivered to the Secured Party representing an ownership interest in a partnership or limited liability company, either such certificates are Securities as defined in Article 8 of the Delaware UCC of the applicable jurisdiction as a result of actions by the issuer or otherwise, or, if such certificates are not Securities, the Grantor has so informed the Secured Party so that the Secured Party may take steps to perfect its security interest therein as a General Intangible.

 

3.12.                        Intellectual Property.

 

3.12.1  Exhibit “B” contains a complete and accurate listing as of the date hereof of all Intellectual Property, including, but not limited to the following: (i) state, U.S. and foreign trademark registrations, and applications for trademark registration, (ii) U.S. and foreign patents and patents applications, together with all reissuances, continuations, continuations in part, revisions, extensions, and reexaminations thereof, (iii) U.S. and foreign copyright registrations and applications for registration, (iv) foreign industrial design registrations and industrial design applications, (v) domain names, (vi) proprietary computer software, (vii) all forms of Intellectual Property described in clauses (i)-(iii) above that are owned by a third party and licensed to the Grantor or otherwise used by the Grantor under contract, and (viii) the names of any Person who has been granted rights in respect thereof outside of the ordinary course of business.  All of the U.S. registrations, applications for registration or applications for issuance of the Intellectual Property are valid and subsisting, in good standing and are recorded or is in the process of being recorded in the name of the Grantor.

 

3.12.2  Such Intellectual Property’s valid, subsisting, unexpired (where registered) and enforceable and has not been abandoned or adjudged invalid or unenforceable, in whole or in part except as could not be reasonably expected to result in a Material Adverse Effect.

 

3.12.3  Except as set forth on Exhibit I, no Person other than the Grantor has any right or interest of any kind or nature in or to the Intellectual Property, including any right to sell, license, lease, transfer, distribute, use or otherwise exploit the Intellectual Property or any portion thereof outside of the ordinary course of the Grantor’s business.  Except as set forth on Exhibit I, the Grantor has good, marketable and exclusive title to, and the valid and enforceable power and right to sell, license, transfer, distribute, use and otherwise exploit, its Intellectual Property.

 

3.12.4  The Grantor has taken or caused to be taken steps so that none of its Intellectual Property, the value of which to the Grantor is contingent upon maintenance of the confidentiality thereof, have been disclosed by the Grantor to any Person other than employees, contractors, customers, representatives and agents of the Grantor who are

 

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parties to customary confidentiality and nondisclosure agreements with the Grantor or are otherwise bound to maintain the confidentiality of such Intellectual Property.

 

3.12.5  To the Grantor’s knowledge, no Person has violated, infringed upon or breached, or is currently violating, infringing upon or breaching, any of the rights of the Grantor to the Intellectual Property or has breached or is breaching any duty or obligation owed to the Grantor in respect of the Intellectual Property except where those breaches, individually or in the aggregate, could not be reasonably expected to result in a Material Adverse Effect.

 

3.12.6  Except as set forth on Exhibit I, no settlement or consents, covenants not to xxx, nonassertion assurances, or releases have been entered into by the Grantor or to which the Grantor is bound that adversely affects its rights to own or use any Intellectual Property except as could not be reasonably expected to result in a Material Adverse Effect, in each case individually or in the aggregate.

 

3.12.7  The Grantor has not received any written notice that remains outstanding challenging the validity, enforceability, or ownership of any Intellectual Property except where those challenges could not reasonably be expected to result in a Material Adverse Effect, and to the Grantor’s knowledge at the date hereof there are no facts upon which such a challenge could validly be made.

 

3.12.8  The Grantor owns directly or is entitled to use, by license or otherwise, all Intellectual Property necessary for the conduct of the Grantor’s business as conducted as of the date of this Agreement.

 

3.12.9  The Grantor uses adequate standards of quality in the manufacture, distribution, and sale of all products sold and in the provision of all services rendered under or in connection with all trademarks and has taken all commercially reasonable action necessary to insure that all licensees of the trademarks owned or licensed by the Grantor use such adequate standards of quality, except where the failure to use adequate standards of quality could not reasonably be expected to result in a Material Adverse Effect.

 

3.12.10  The consummation of the transactions contemplated by the Note and this Security Agreement will not result in the termination or material impairment of any of the Intellectual Property.

 

3.13.                       Insurance.                                         Exhibit “H” contains a description of all insurance which the Grantor maintains or has maintained on its behalf.  All of such insurance is in full force and effect.

 

ARTICLE IV

COVENANTS

 

From the date of this Security Agreement and thereafter until this Security Agreement is terminated, the Grantor agrees:

 

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4.1.                              General.

 

4.1.1  Inspection.  The Grantor will permit the Secured Party, by its representatives and agents (i) to inspect the Collateral, (ii) to examine and make copies of the records of the Grantor relating to the Collateral and (iii) to discuss the Collateral and the related records of the Grantor with, and to be advised as to the same by, the Grantor’s officers and employees (and, in the case of any Receivable after the occurrence and during the continuance of an Event of Default, with any person or entity which is or may be obligated thereon), all at such reasonable times and intervals during Grantor’s regular business hours as the Secured Party may determine, upon reasonable prior notice and all at the Grantor’s expense.

 

4.1.2  Taxes.  The Grantor will pay when due all taxes, assessments and governmental charges and levies upon the Collateral owned by the Grantor, except (i) those which are being contested in good faith by appropriate proceedings and with respect to which adequate reserves have been set aside in accordance with GAAP and with respect to which no Lien exists, and (ii) those which by reason of the amount involved or the remedies available to the taxing authority could not reasonably be expected to have a Material Adverse Effect.

 

4.1.3  Records and Reports; Notification of Event of Default.  The Grantor shall keep and maintain complete, accurate and proper books and records with respect to the Collateral owned by the Grantor, and furnish to the Secured Party such reports relating to the Collateral as the Secured Party shall from time to time reasonably request.  The Grantor will give prompt notice in writing to the Secured Party of the occurrence of any Event of Default or event which with the giving of notice or passage of time or both would constitute an Event of Default.

 

4.1.4  Financing Statements and Other Actions; Defense of Title.  The Grantor hereby authorizes the Secured Party to file, and if requested will execute and deliver to the Secured Party, all financing statements describing the Collateral owned by the Grantor and other documents and take such other actions as may from time to time reasonably be requested by the Secured Party in order to maintain a first priority, perfected security interest in and, if applicable, Control of, the Collateral owned by the Grantor, subject to Permitted Liens.  Such financing statements may describe the Collateral in the same manner as described herein or may contain an indication or description of collateral that describes such property in any other manner as the Secured Party may determine, in its sole discretion, is necessary, advisable or prudent to ensure that the perfection of the security interest in the Collateral granted to the Secured Party herein, including, without limitation, describing such property as “all assets” or “all personal property, whether now owned or hereafter acquired.”  The Grantor will take any and all actions necessary to defend title to the Collateral owned by the Grantor against all persons and to defend the security interest of the Secured Party in such Collateral and the priority thereof against any Lien not expressly permitted hereunder.

 

4.1.5  Disposition of Collateral.  The Grantor will not sell, lease or otherwise dispose of the Collateral owned by the Grantor except for (i) sales of inventory in the

 

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xxxxxxxx xxxxxx xx xxxxxxxx, (xx) the disposition of obsolete, worn-out or surplus Collateral in the ordinary course of business, (iii) the license in the ordinary course of the Grantor’s business of its Intellectual Property and (iv) the abandonment or disposition by the Grantor of Intellectual Property that is not used or useful in the conduct of the Grantor’s business.

 

4.1.6  Liens.  The Grantor will not, incur, or suffer to exist any Lien on the Collateral owned by the Grantor except Permitted Liens.

 

4.1.7  Change in Corporate Existence, Type or Jurisdiction of Organization, Location, Name.  The Grantor will:

 

(i)                                    preserve its existence and corporate structure as in effect on the date hereof;

 

(ii)                                not change its jurisdiction of organization;

 

(iii)                             not maintain its place of business (if it has only one) or its chief executive office (if it has more than one place of business) at a location other than a location specified in Exhibit “A”; and

 

(iv)                             not (i) have any Inventory, Equipment or Fixtures or proceeds or products thereof (other than Inventory and proceeds thereof disposed of as permitted by Section 4.1.5) at a location other than a location specified in Exhibit “A”, (ii) change its name or taxpayer identification number or (iii) change its mailing address,

 

unless, in each such case, the Grantor shall have given the Secured Party not less than thirty (30) days’ prior written notice of such event or occurrence and the Secured Party shall have either (x) determined that such event or occurrence will not adversely affect the validity, perfection or priority of the Secured Party’s security interest in the Collateral, or (y) taken such steps (with the cooperation of the Grantor to the extent necessary or advisable) as are necessary or advisable to properly maintain the validity, perfection and priority of the Secured Party’s security interest in the Collateral owned by the Grantor.

 

4.1.8  Other Financing Statements.  The Grantor will not suffer to exist or authorize the filing of any financing statement naming it as debtor covering all or any portion of the Collateral owned by the Grantor, except any financing statement authorized under Section 4.1.4 hereof.

 

4.2.                              Receivables.

 

4.2.1  Certain Agreements on Receivables.  During the occurrence and continuation of an Event of Default, the Grantor will not make or agree to make any discount, credit, rebate or other reduction in the original amount owing on a Receivable or accept in satisfaction of a Receivable less than the original amount thereof.  Prior to the occurrence and continuation of an Event of Default, the Grantor may reduce the amount of Accounts arising from the sale of Inventory or the rendering of services in accordance with its present policies and in the ordinary course of business.

 

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4.2.2  Collection of Receivables.  Except as otherwise provided in this Security Agreement, the Grantor will collect and enforce, at the Grantor’s sole expense, all amounts due or hereafter due to the Grantor under the Receivables owned by the Grantor.

 

4.2.3  Delivery of Invoices.  The Grantor will deliver to the Secured Party immediately upon its request after the occurrence and during the continuance of an Event of Default duplicate invoices with respect to each Account owned by the Grantor bearing such language of assignment as the Secured Party shall specify.

 

4.2.4  Disclosure of Counterclaims on Receivables.  If (i) any discount, credit or agreement to make a rebate or to otherwise reduce the amount owing on a Receivable owned by the Grantor exists or (ii) if, to the knowledge of the Grantor, any dispute, setoff, claim, counterclaim or defense exists or has been asserted or threatened in writing with respect to a Receivable, in either case, in excess of $25,000, the Grantor will disclose such fact to the Secured Party in writing in connection with the inspection by the Secured Party of any record of the Grantor relating to such Receivable and in connection with any invoice or report furnished by the Grantor to the Secured Party relating to such Receivable.

 

4.3.                              Maintenance of Goods.  The Grantor will do all things necessary to maintain, preserve, protect and keep the Inventory and the Equipment owned by the Grantor in good repair, working order and saleable condition (ordinary wear and tear excepted) and make all necessary and proper repairs, renewals and replacements so that its business carried on in connection therewith may be properly conducted at all times, except where the failure to do so, individually or in the aggregate, could not reasonably be expected to have a Material Adverse Effect.

 

4.4.                              Instruments, Securities, Chattel Paper, Documents and Pledged Deposits.  The Grantor will (i) deliver to the Secured Party immediately upon execution of this Security Agreement the originals of all Chattel Paper, Securities (to the extent certificated) and Instruments constituting Collateral (if any then exist), (ii) hold in trust for the Secured Party upon receipt and immediately thereafter deliver to the Secured Party any Chattel Paper, Securities and Instruments constituting Collateral, (iii) upon the designation of any Pledged Deposits (as set forth in the definition thereof), deliver to the Secured Party such Pledged Deposits which are evidenced by certificates included in the Collateral endorsed in blank, marked with such legends and assigned as the Secured Party shall specify, and (iv) upon the Secured Party’s request, after the occurrence and during the continuance of an Event of Default, deliver to the Secured Party (and thereafter hold in trust for the Secured Party upon receipt and immediately deliver to the Secured Party) any Document evidencing or constituting Collateral.

 

4.5.                              Uncertificated Securities and Certain Other Investment Property.  The Grantor will permit the Secured Party from time to time to use commercially reasonable efforts to cause the appropriate issuers (and, if held with a securities intermediary, such securities intermediary) of uncertificated securities or other types of Investment Property not represented by certificates which are Collateral owned by the Grantor to xxxx their books and records with the numbers and face amounts of all such uncertificated securities or other types of Investment Property not represented by certificates and all rollovers and replacements therefor to reflect the Lien of the

 

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Secured Party granted pursuant to this Security Agreement.  The Grantor will use all commercially reasonable efforts, with respect to Investment Property constituting Collateral owned by the Grantor and held with a financial intermediary, to cause such financial intermediary to enter into a control agreement with the Secured Party in form and substance reasonably satisfactory to the Secured Party, not later than sixty days after the Issuance Date with respect to any financial intermediary in possession of such Collateral on the Issuance Date and promptly after the deposit of any such Collateral with a new financial intermediary after the Issuance Date.

 

4.6.                              Stock and Other Ownership Interests.

 

4.6.1  Changes in Capital Structure of Issuers.  The Grantor will neither (i) permit or suffer any issuers of privately held corporate securities or other ownership interests in a corporation, partnership, joint venture or limited liability company constituting Collateral owned by the Grantor, which such issuers are wholly-owned “Subsidiaries” (as defined in the Note Purchase Agreement) of the Grantor, to dissolve, liquidate, retire any of its capital stock or other Instruments or Securities evidencing ownership, reduce its capital or merge or consolidate with any other entity other than the Grantor, nor (ii) vote any of the Instruments, Securities or other Investment Property in favor of any of the foregoing.

 

4.6.2  Issuance of Additional Securities. The Grantor will not permit or suffer any issuers of privately held corporate securities or other ownership interests in a corporation, partnership, joint venture or limited liability company constituting Collateral, which such issuers are wholly-owned Subsidiaries of the Grantor, to issue any such securities or other ownership interests, any right to receive the same or any right to receive earnings, except to the Grantor.

 

4.6.3  Registration of Pledged Securities and other Investment Property.  The Grantor will permit any registrable Investment Property Collateral owned by the Grantor to be registered in the name of the Secured Party or its nominee at any time at the option of the Secured Party following the occurrence and during the continuance of an Event of Default and without any further consent of the Grantor.

 

4.6.4  Exercise of Rights in Pledged Securities and other Investment Property.  The Grantor will permit the Secured Party or its nominee at any time during the continuance of an Event of Default, without notice, to exercise or refrain from exercising any and all voting and other consensual rights pertaining to the Collateral owned by the Grantor or any part thereof, and to receive all dividends and interest in respect of such Collateral; provided, however, that voting rights will be exercisable only if Secured Party has notified the Grantor in writing of its intention to do so.

 

4.7.                              Deposit Accounts.  The Grantor will use commercially reasonable efforts to cause each bank or other financial institution in which it maintains (i) a Deposit Account to enter into a control agreement with the Secured Party, in form and substance satisfactory to the Secured Party in order to give the Secured Party Control of the Deposit Account or (ii) other deposits (general or special, time or demand, provisional or final) to be notified of the security interest

 

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granted to the Secured Party hereunder and cause each such bank or other financial institution to acknowledge such notification in writing, in each case not later than sixty days after the Issuance Date with respect to any Deposit Accounts or other such deposits in existence on the Issuance Date and promptly after the opening of any Deposit Accounts or making of such other deposits after the Issuance Date; provided, however, that the provisions of this Section 4.7 shall not apply to any payroll accounts or employee flexible spending accounts.

 

4.8.                              Letter-of-Credit Rights.  The Grantor will, upon the Secured Party’s request, cause each issuer of a letter of credit, to consent to the assignment of proceeds of the letter of credit in order to give the Secured Party Control of the letter-of-credit rights to such letter of credit.

 

4.9.                              Federal, State or Municipal Claims.  The Grantor will notify the Secured Party of any Collateral owned by the Grantor which constitutes a claim against the United States government or any state or local government or any instrumentality or agency thereof, the assignment of which claim is restricted by federal, state or municipal law.

 

4.10.                        Intellectual Property.

 

4.10.1  If, after the date hereof, the Grantor obtains rights to, including, but not limited to filing and acceptance of a statement of use or an amendment to allege use with the U.S. Patent and Trademark Office, or applies for or seeks registration of, any new patentable invention, Trademark or Copyright in addition to the Patents, Trademarks and Copyrights described in Part C of Exhibit “B”, which are all of the Grantor’s Patents, Trademarks and registered Copyrights as of the date hereof, then the Grantor shall give the Secured Party prompt notice thereof.  The Grantor agrees promptly upon request by the Secured Party to execute and deliver to the Secured Party any supplement to this Security Agreement or any other document reasonably requested by the Secured Party to evidence such security interest in a form appropriate for recording in the applicable federal office.  The Grantor also hereby authorizes the Secured Party to modify this Security Agreement unilaterally (i) by amending Part C of Exhibit “B” to include any future Patents, Trademarks and/or Copyrights of which the Secured Party receives notification from the Grantor pursuant hereto and (ii) by recording, in addition to and not in substitution for this Security Agreement, a duplicate original of this Security Agreement containing in Part C of Exhibit “B” a description of such future Patents, Trademarks and/or Copyrights.

 

4.10.2  As of the date hereof, the Grantor has no interest in, or title to, any Intellectual Property Licenses, Patents, Trademarks, Industrial Design or registered Copyrights except as set forth in Exhibit “B”.  This Agreement is effective to create a valid and continuing Lien on such Copyrights, Intellectual Property Licenses, Patents, Trademarks and Industrial Designs and, upon filing of the Confirmatory Grant of Security Interest in Copyrights with the United States Copyright Office and filing of the Confirmatory Grant of Security Interest in Patents with the United States Patent and Trademark Office, and the filing of appropriate financing statements in the jurisdictions listed in Exhibit “E” hereto, all action necessary or desirable to protect and perfect the security interest in, to and on the Grantor’s Patents, Trademarks, Copyrights or Industrial

 

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Designs has been taken and such perfected security interest is enforceable as such as against any and all creditors of and purchasers from the Grantor.  The Grantor has no interest in any Copyright that is necessary in connection with the operation of the Grantor’s business, except for those Copyrights identified in Exhibit “B” attached hereto which have been registered with the United States Copyright Office.

 

4.11.                        Commercial Tort Claims.  If, after the date hereof, the Grantor identifies the existence of a commercial tort claim belonging to the Grantor that has arisen in the course of the Grantor’s business in addition to the commercial tort claims described in Exhibit “F”, which are all of the Grantor’s commercial tort claims as of the date hereof, then the Grantor shall give the Secured Party prompt notice thereof, but in any event not less frequently than quarterly.  The Grantor agrees promptly upon request by the Secured Party to execute and deliver to the Secured Party any supplement to this Security Agreement or any other document reasonably requested by the Secured Party to evidence the grant of a security interest therein in favor of the Secured Party.

 

4.12.                        Insurance.  The Grantor shall (i) maintain in full force and effect with respect to its insurable properties, insurance policies in such amounts and covering such risks as would be consistent with prudent industry practice, (ii) cause each insurance policy pertaining to the Collateral to (A) name the Secured Party as an “additional insured” if such policy is a liability policy, (B) name the Secured Party as a “mortgagee” and “loss payee” as to claims in excess of $50,000 and include a standard agent’s loss payable endorsement in favor of the Secured Party satisfactory to the Secured Party if such policy is a property insurance policy, (C) provide that, the Secured Party shall be notified in writing of any proposed cancellation or modification of such policy initiated by the Grantor’s insurer at least thirty (30) days in advance prior to any proposed cancellation or modification, (D) provide that all insurance proceeds for losses shall be payable to the Secured Party after the occurrence and during the continuance of an Event of Default, (E) waive any right of subrogation of the insurers against the Secured Party and waive any right of the insurers to any setoff or counterclaim or any other deduction, whether by attachment or otherwise, in respect of any liability of the Grantor, and (E) provide that such insurance shall be primary insurance, that the insurers under such insurance policies shall be liable under such policies without right of contribution from any other insurance coverage and expressly provide that liability for premiums shall be solely a liability of the Grantor.

 

4.13.                        Real Property.   In the event that at any time that the Secured Obligations (other than inchoate indemnity obligations) are outstanding, the Grantor becomes the owner of any real property, the Grantor shall enter into a mortgage of such real property, in form and substance reasonably satisfactory to the Secured Party to secure the payment and performance of the Secured Obligations.

 

ARTICLE V

EVENTS OF DEFAULT REMEDIES

 

5.1.                              Acceleration and Remedies.  Upon the acceleration by the Secured Party of the Grantor’s obligations under the Note, the Secured Obligations shall immediately become due and payable without presentment, demand, protest or notice of any kind, all of which are hereby

 

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expressly waived, and the Secured Party may exercise in accordance with applicable law any or all of the following rights and remedies in addition to the rights and remedies provided for in the Note:

 

5.1.1  Those rights and remedies provided in this Security Agreement, provided that this Section 5.1.1 shall not be understood to limit any rights or remedies available to the Secured Party prior to an Event of Default.

 

5.1.2  Those rights and remedies available to a secured party under the Delaware UCC (whether or not the Delaware UCC applies to the affected Collateral) or under any other applicable law (including, without limitation, any law governing the exercise of a bank’s right of setoff or bankers’ lien) when a debtor is in default under a security agreement.

 

5.1.3  Without notice except as specifically provided in Section 8.1 hereof or elsewhere herein, the right to sell, lease, assign, grant an option or options to purchase or otherwise dispose of the Collateral or any part thereof in one or more parcels at public or private sale, for cash, on credit or for future delivery, and upon such other terms as the Secured Party may deem commercially reasonable.  The Secured Party may purchase all or any part of the Collateral at public or, if permitted by law, private sale, and in lieu of actual payment of such purchase price, may set off the amount of such purchase price against the Secured Obligations then owing.  Any sales of the Collateral may be adjourned from time to time with or without notice.  Subject to the rights of lessors, mortgagees or other third parties, the Secured Party shall have the right to conduct such sales on the premises of the Grantor, at the expense of the Grantor, or elsewhere, on such occasion or occasions as they may see fit.  The net proceeds realized by the Secured Party upon any such sale or other disposition, after deduction for the expense of retaking, holding, preparing for sale, selling or the like and the reasonable attorneys’ fees and legal expenses incurred by the Secured Party in connection therewith, shall be applied as provided herein toward satisfaction of the Secured Obligations.  The Secured Party shall account for and pay to the Grantor any surplus realized upon such sale or other disposition, and the Grantor shall remain liable for any deficiency.  The commencement of any action, legal or equitable, or the rendering of any judgment or decree for any deficiency shall not affect the Secured Party’s security interest in the Collateral.  The Grantor agrees that the Secured Party has no obligation to preserve rights to the Collateral against any other parties.

 

5.2.                              Grantor’s Obligations Upon Event of Default.  Upon the request of the Secured Party after the occurrence and during the continuance of an Event of Default, the Grantor will:

 

5.2.1  Assembly of Collateral.  Assemble and make available to the Secured Party the Collateral and all records relating thereto at any place or places specified by the Secured Party that is reasonably convenient to the Secured Party and the Grantor.

 

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5.2.2  Secured Party Access.

 

(i)                                     Permit the Secured Party, by the Secured Party’s representatives and agents, to enter any premises where all or any part of the Collateral, or the books and records relating thereto, or both, are located, to take possession of all or any part of the Collateral and to render the Collateral unusable or remove the Collateral therefrom to the premises of the Secured Party or any agent thereof, for such time as the Secured Party may desire, in order effectively to collect or liquidate the Collateral.

 

(ii)                                  Provide the Secured Party with access to the Grantor’s data processing equipment, computer hardware and software relating to the Collateral and permit the Secured Party to use all of the foregoing and the information contained therein in any manner the Secured Party deems appropriate.

 

5.3.                              License.  The Secured Party is hereby granted a license or other right to use, following the occurrence and during the continuance of an Event of Default, without charge, the Grantor’s labels, patents, copyrights, rights of use of any name, trade secrets, trade names, trademarks, service marks, customer lists and advertising matter, or any property of a similar nature, as it pertains to the Collateral, in completing production of, advertising for sale, and selling any Collateral, and, following the occurrence and during the continuance of an Event of Default, the Grantor’s rights under all licenses and all franchise agreements shall inure to the Secured Party’s benefit.  In addition, the Grantor hereby irrevocably agrees that the Secured Party may, following the occurrence and during the continuance of an Event of  Default, sell any of the Grantor’s Inventory directly to any Person, including without limitation Persons who have previously purchased the Grantor’s Inventory from the Grantor and in connection with any such sale or other enforcement of the Secured Party’s rights under this Security Agreement, may sell Inventory which bears any trademark owned by or licensed to the Grantor and any Inventory that is covered by any copyright owned by or licensed to the Grantor and the Secured Party may finish any work in process and affix any trademark owned by or licensed to the Grantor and sell such Inventory as provided herein.

 

ARTICLE VI

WAIVERS, AMENDMENTS AND REMEDIES

 

No delay or omission of the Secured Party to exercise any right or remedy granted under this Security Agreement shall impair such right or remedy or be construed to be a waiver of any Event of Default or an acquiescence therein, and any single or partial exercise of any such right or remedy shall not preclude any other or further exercise thereof or the exercise of any other right or remedy.  No waiver, amendment or other variation of the terms, conditions or provisions of this Security Agreement whatsoever shall be valid unless in writing signed by the Secured Party with the concurrence or at the direction of the Grantor, and then only to the extent in such writing specifically set forth.  All rights and remedies contained in this Security Agreement or by law afforded shall be cumulative and all shall be available to the Secured Party until the Secured Obligations have been paid in full.

 

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ARTICLE VII

PROCEEDS; COLLECTION OF RECEIVABLES

 

7.1.                              Lockboxes.  Upon request of the Secured Party after the occurrence and during the continuance of an Event of Default, the Grantor shall execute and deliver to the Secured Party irrevocable lockbox agreements in the form provided by or otherwise acceptable to the Secured Party, and shall use all commercially reasonable efforts to cause such agreements to be accompanied by an acknowledgment by the bank where the lockbox is located of the Lien of the Secured Party granted hereunder and of irrevocable instructions to wire all amounts collected therein to a special collateral account of the Secured Party.

 

7.2.                              Collection of Receivables.  The Secured Party may at any time after the occurrence and during the continuance of an Event of Default, by giving the Grantor written notice, elect to require that the Receivables be paid directly to the Secured Party.  In such event, the Grantor shall, and shall permit the Secured Party to, promptly notify the account debtors or obligors under the Receivables owned by the Grantor of the Secured Party’s interest therein and direct such account debtors or obligors to make payment of all amounts then or thereafter due under such Receivables directly to the Secured Party.  Upon receipt of any such notice from the Secured Party, the Grantor shall thereafter hold in trust for the Secured Party, all amounts and proceeds received by it with respect to the Receivables and Other Collateral and immediately and at all times thereafter deliver to the Secured Party all such amounts and proceeds in the same form as so received, whether by cash, check, draft or otherwise, with any necessary endorsements.  The Secured Party shall hold and apply funds so received as provided by the terms of Section 7.3 hereof.  In addition the Secured Party may thereupon (i) enforce payment of the Receivables by legal proceedings or otherwise; (ii) exercise all of the Grantor’s rights and remedies with respect to proceedings brought to collect any Receivables; (iii) sell or assign any Receivable upon such terms, for such amount and at such time or times as the Secured Party deems advisable; (iv) settle, adjust, compromise, extend or renew a Receivable; (v) discharge and release any Receivable; and (vii) prepare, file and sign the Grantor’s name on any proof of claim in bankruptcy or other similar document against an account debtor with respect to a Receivable of the Grantor.

 

7.3.                              Application of Proceeds.  Upon the occurrence and during the continuance of any Event of Default, the Grantor irrevocably waives the right to direct the application of any and all payments at any time or times hereafter received by the Secured Party from the Grantor or with respect to any of the Collateral, and the Grantor does hereby irrevocably agree that the Secured Party shall have the continuing exclusive right to apply and reapply any and all payments received at any time or times with respect to the Collateral against the Secured Obligations in such manner as the Secured Party may deem advisable, notwithstanding any entry by the Secured Party upon any of its books and records.

 

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ARTICLE VIII

GENERAL PROVISIONS

 

8.1.                              Notice of Disposition of Collateral; Condition of Collateral.  The Secured Party shall send to the Grantor notice of the time and place of any public sale or the time after which any private sale or other disposition of all or any part of the Collateral may be made.  Any such notice made shall be deemed reasonable if sent to the Grantor, addressed as set forth in Article IX, at least ten (10) days prior to (i) the date of any such public sale or (ii) the time after which any such private sale or other disposition may be made.  The Secured Party shall have no obligation to clean-up or otherwise prepare the Collateral for sale.

 

8.2.                              Compromises and Collection of Collateral.  The Grantor and the Secured Party recognize that setoffs, counterclaims, defenses and other claims may be asserted by obligors with respect to certain of the Receivables, that certain of the Receivables may be or become uncollectible in whole or in part and that the expense and probability of success in litigating a disputed Receivable may exceed the amount that reasonably may be expected to be recovered with respect to a Receivable.  In view of the foregoing, the Grantor agrees that the Secured Party may at any time and from time to time, if an Event of Default has occurred and is continuing, compromise with the obligor on any Receivable, accept in full payment of any Receivable such amount as the Secured Party in its sole discretion shall determine or abandon any Receivable, and any such action by the Secured Party shall be commercially reasonable so long as the Secured Party acts in good faith based on information known to it at the time it takes any such action.

 

8.3.                              Secured Party Performance of Grantor’s Obligations.  Without having any obligation to do so, the Secured Party may perform or pay any obligation which the Grantor has agreed to perform or pay in this Security Agreement and the Grantor shall reimburse the Secured Party for any reasonable amounts paid by the Secured Party pursuant to this Section 8.3.  The Grantor’s obligation to reimburse the Secured Party pursuant to the preceding sentence shall be a Secured Obligation payable on demand.

 

8.4.                              Authorization for Secured Party to Take Certain Action.  The Grantor irrevocably authorizes the Secured Party at any time and from time to time in the sole discretion of the Secured Party and appoints the Secured Party as its attorney in fact (i) to file financing statements necessary or desirable in the Secured Party’s sole discretion to perfect and to maintain the perfection and priority of the Secured Party’s security interest in the Collateral, (ii) to indorse and collect any cash proceeds of the Collateral, (iii) to file any other financing statement or amendment of a financing statement (which does not add new collateral or add a debtor) in such offices as the Secured Party in its sole discretion deems necessary or desirable to perfect and to maintain the perfection and priority of the Secured Party’s security interest in the Collateral, (iv) to contact and enter into one or more agreements with the issuers of uncertificated securities which are Collateral owned by the Grantor and which are Securities or with financial intermediaries holding other Investment Property as may be necessary or advisable to give the Secured Party Control over such Securities or other Investment Property, (v) after the occurrence and during the continuance of an Event of Default, to enforce payment of the Instruments, Accounts and Receivables in the name of the Secured Party or the Grantor, (vi) to apply the

 

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proceeds of any Collateral received by the Secured Party after the occurrence and during the continuance of an Event of Default to the Secured Obligations as provided in Article VII and (vii) to discharge past due taxes, assessments, charges, fees or Liens on the Collateral (except for such Liens as are specifically permitted hereunder), and the Grantor agrees to reimburse the Secured Party on demand for any reasonable payment made or any reasonable expense incurred by the Secured Party in connection therewith, provided that this authorization shall not relieve the Grantor of any of its obligations under this Security Agreement.

 

8.5.                              Specific Performance of Certain Covenants.  The Grantor acknowledges and agrees that a breach of any of the covenants contained in Sections 4.1.5, 4.1.6, 4.4, 5.2, or 8.7 or in Article VII hereof will cause irreparable injury to the Secured Party, that the Secured Party has no adequate remedy at law in respect of such breaches and therefore agrees, without limiting the right of the Secured Party to seek and obtain specific performance of other obligations of the Grantor contained in this Security Agreement, that the covenants of the Grantor contained in the Sections referred to in this Section 8.5 shall be specifically enforceable against the Grantor.

 

8.6.                              Use and Possession of Certain Premises.  Subject to the rights of lessors, mortgagees or other third parties, upon the occurrence and during the continuance of an Event of Default, the Secured Party shall be entitled to occupy and use any premises owned or leased by the Grantor where any of the Collateral or any records relating to the Collateral are located until the Secured Obligations are paid or the Collateral is removed therefrom, whichever first occurs, without any obligation to pay the Grantor for such use and occupancy.

 

8.7.                              Dispositions Not Authorized.  The Grantor is not authorized to sell or otherwise dispose of the Collateral except as set forth in Section 4.1.5 hereof and notwithstanding any course of dealing between the Grantor and the Secured Party or other conduct of the Secured Party, no authorization to sell or otherwise dispose of the Collateral (except as set forth in Section 4.1.5 hereof) shall be binding upon the Secured Party unless such authorization is in writing signed by the Secured Party.

 

8.8.                              Benefit of Agreement.  The terms and provisions of this Security Agreement shall be binding upon and inure to the benefit of the Grantor and the Secured Party and their respective successors and assigns (including all persons who become bound as a debtor to this Security Agreement), except that the Grantor shall not have the right to assign its rights or delegate its obligations under this Security Agreement or any interest herein, without the prior written consent of the Secured Party.

 

8.9.                              Survival of Representations.  All representations and warranties of the Grantor contained in this Security Agreement shall survive the execution and delivery of this Security Agreement.

 

8.10.                        Taxes and Expenses.  Any taxes (including income taxes) payable or ruled payable by a Federal or State authority in respect of this Security Agreement shall be paid by the Grantor, together with interest and penalties, if any.  The Grantor shall reimburse the Secured Party for any and all reasonable documented out-of-pocket expenses and internal charges (including reasonable documented attorneys’, auditors’ and accountants’ fees and reasonable time charges of attorneys, paralegals, auditors and accountants who may be employees of the

 

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Secured Party) paid or incurred by the Secured Party in connection with the preparation, execution, delivery, administration, collection and enforcement of this Security Agreement and in the audit, analysis, administration, collection, preservation or sale of the Collateral (including the expenses and charges associated with any periodic or special audit of the Collateral).  Any and all costs and expenses incurred by the Grantor in the performance of actions required pursuant to the terms hereof shall be borne solely by the Grantor.

 

8.11.                        Headings.  The title of and section headings in this Security Agreement are for convenience of reference only, and shall not govern the interpretation of any of the terms and provisions of this Security Agreement.

 

8.12.                        Termination.  This Security Agreement shall continue in effect until all of the Secured Obligations (other than inchoate indemnity obligations) have been indefeasibly paid in cash and performed in full or the Note has been converted into shares of Common Stock of the Grantor or the Imagify License in accordance with the provisions of Section 3 of the Note, and shall thereupon terminate.

 

8.13.                        Entire Agreement.  This Security Agreement embodies the entire agreement and understanding between the Grantor and the Secured Party relating to the Collateral and supersedes all prior agreements and understandings between the Grantor and the Secured Party relating to the Collateral.

 

8.14.                        Governing Law; Jurisdiction; Waiver of Jury Trial.

 

8.14.1  THIS SECURITY AGREEMENT SHALL BE CONSTRUED IN ACCORDANCE WITH AND GOVERNED BY THE INTERNAL LAWS AND DECISIONS (AS OPPOSED TO CONFLICTS OF LAW PROVISIONS) OF THE STATE OF DELAWARE.

 

8.14.2  The Grantor hereby irrevocably and unconditionally submits, for itself and its property, to the nonexclusive jurisdiction of any Delaware state court sitting in New Castle County, Delaware and of the United States District Court for the District of Delaware, and any appellate court from any thereof, in any action or proceeding arising out of or relating to this Security Agreement or the Note, or for recognition or enforcement of any judgment, and the Grantor hereby irrevocably and unconditionally agrees that all claims in respect of any such action or proceeding may be heard and determined in such Delaware state court or, to the extent permitted by law, in such Federal court.  The Grantor agrees that a final judgment in any such action or proceeding shall be conclusive and may be enforced in other jurisdictions by suit on the judgment or in any other manner provided by law.  Nothing in this Security Agreement or the Note shall affect any right that the Secured Party may otherwise have to bring any action or proceeding relating to this Security Agreement or the Note against the Grantor or its properties in the courts of any jurisdiction.

 

8.14.3  The Grantor hereby irrevocably and unconditionally waives, to the fullest extent it may legally and effectively do so, any objection which it may now or hereafter have to the laying of venue of any suit, action or proceeding arising out of or relating to

 

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this Security Agreement or the Note in any court referred to in Section 8.14.2.  The Grantor hereby irrevocably waives, to the fullest extent permitted by law, the defense of an inconvenient forum to the maintenance of such action or proceeding in any such court.

 

8.14.4  Each party to this Security Agreement irrevocably consents to service of process in the manner provided for notices in Article IX of this Security Agreement.  Nothing in this Security Agreement or the Note will affect the right of any party to this Security Agreement to serve process in any other manner permitted by law.

 

8.14.5  WAIVER OF JURY TRIAL.  THE GRANTOR HEREBY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN ANY LEGAL PROCEEDING DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS SECURITY AGREEMENT OR THE NOTE (WHETHER BASED ON CONTRACT, TORT OR ANY OTHER THEORY).

 

8.15.                        Indemnity.  The Grantor hereby agrees to indemnify the Secured Party, and its successors, assigns, agents and employees, from and against any and all liabilities, damages, penalties, suits, costs, and expenses of any kind and nature  (including, without limitation, all expenses of litigation or preparation therefor whether or not the Secured Party is a party thereto) imposed on, incurred by or asserted against the Secured Party, or its successors, assigns, agents and employees, in any way relating to or arising out of this Security Agreement or the Note, or the manufacture, purchase, acceptance, rejection, ownership, delivery, lease, possession, use, operation, condition, sale, return or other disposition of any Collateral (including, without limitation, latent and other defects, whether or not discoverable by the Secured Party or the Grantor, and any claim for patent, trademark or copyright infringement), other than any such liabilities, damages, penalties, suits, costs, or expenses resulting from the gross negligence or willful misconduct of the Secured Party or any of such successors, assigns, agents or employees.

 

8.16.                        Intentionally Omitted.

 

8.17.                        Severability.  Any provision in this Security Agreement that is held to be inoperative, unenforceable, or invalid in any jurisdiction shall, as to that jurisdiction, be inoperative, unenforceable, or invalid without affecting the remaining provisions in that jurisdiction or the operation, enforceability, or validity of that provision in any other jurisdiction, and to this end the provisions of this Security Agreement are declared to be severable.

 

8.18.                        Counterparts.  This Security Agreement may be executed in counterparts (and by different parties hereto in different counterparts), each of which shall constitute an original, but all of which when taken together shall constitute a single contract.  Delivery of an executed counterpart of a signature page of this Security Agreement by telecopy shall be effective as delivery of a manually executed counterpart of this Security Agreement.

 

22


 

ARTICLE IX

NOTICES

 

9.1.                              Sending Notices.  Any notice required or permitted to be given under this Security Agreement shall be sent (and deemed received) in the manner and to the addresses set forth in Section 12.3 of the Note Purchase Agreement.

 

9.2.                              Change in Address for Notices.  Each of the Grantor and the Secured Party may change the address for service of notice upon it by a notice in writing to the other parties.

 

[Signature Pages Follow]

 

23


 

IN WITNESS WHEREOF, each of the Grantor and the Secured Party have executed this Security Agreement as of the date first above written.

 

 

ACUSPHERE, INC., as the Grantor

 

 

 

By:

 

 

Name:

 

Title:

 

Signature Page to Pledge and Security Agreement

 


 

CEPHALON, INC., as the Secured Party

 

By:

 

 

Name:

Title:

 

Signature Page to Pledge and Security Agreement

 


 

EXHIBIT “A”
(See Sections 3.3, 3.4, 3.5 and 4.1.7 of Security Agreement)

 

 

Prior names, jurisdiction of formation, place of business (if Grantor has only one place of business), chief executive office (if Grantor has more than one place of business), mergers and mailing address:

 

Acusphere, Inc

000 Xxxxxxx Xxxxxx

Xxxxxxxxx, XX 00000

 

Attention: Xxxxxxxx X. Xxxxxx, CFO

 

Jurisdiction of Formation: Delaware

 

Locations of Real Property, Inventory, Equipment and Fixtures:

 

A.

 

Real Properties Owned by the Grantor:

 

 

 

 

 

NONE

 

 

 

B.

 

Properties Leased by the Grantor (Include Landlord’s Name):

 

 

 

 

 

Acusphere, Inc.

 

 

000 Xxxxxxx Xxxxxx

 

 

Xxxxxxxxx, XX 00000

 

 

Landlord: XXX-000 Xxxxxxx Xxxxxx, LLC

 

 

 

 

 

000 Xxxx Xxxxxx

 

 

Xxxxxxxxx, XX 00000

 

 

Landlord: 890 East LLC

 

 

 

 

 

000 Xxxxxx Xxxx

 

 

Xxxxxxxxx, XX 00000

 

 

Landlord: Xxxxxxx Nominee Trust

 

 

 

C.

 

Public Warehouses or other Locations pursuant to Bailment or Consignment Arrangements (include name of warehouse operator or other bailee or consignee):

 

 

 

 

 

NONE

 


 

EXHIBIT “B”
(See Sections 3.8 and 3.12 of Security Agreement)

 

A. Vehicles subject to certificates of title:

 

Description

 

Title Number & State Where Issued

NONE

 

 

 

B. Aircraft/engines, ships, railcars and other vehicles governed by federal statute:

 

Description

 

Registration Number

NONE

 

 

 

C.  Patents, copyrights, trademarks protected under federal law* and industrial designs:

 

See Attached IP Schedule

 

* For (i) trademarks, show the trademark itself, the registration date and the registration number; (ii) trademark applications, show the trademark applied for, the application filing date and the serial number of the application; (iii) patents, show the patent number, issue date and a brief description of the subject matter of the patent; and (iv) patent applications, show the serial number of the application, the application filing date and a brief description of the subject matter of the patent applied for.  Any licensing agreements for patents or trademarks should be described on a separate schedule.

 


 

EXHIBIT “C”
(See Section 3.8 of Security Agreement)

 

Legal description, county and street address of property on which
Fixtures are located:

 

NONE

 

Name and Address of Record Owner:

 

 


 

EXHIBIT “D”

 

List of Pledged Securities
(See Section 3.11 of Security Agreement)

 

A. STOCKS:

 

Issuer

 

Certificate Number

 

Number of Shares

 

Acusphere Securities Corp.

 

1

 

100

 

 

X. XXXXX:

 

Issuer

 

Number

 

Face Amount

 

Coupon Rate

 

Maturity

 

NONE

 

 

 

 

 

 

 

 

 

 

C. GOVERNMENT SECURITIES:

 

Issuer

 

Number

 

Type

 

Face Amount

 

Coupon Rate

 

Maturity

 

NONE

 

 

 

 

 

 

 

 

 

 

 

 

D. OTHER SECURITIES OR OTHER INVESTMENT PROPERTY

(CERTIFICATED AND UNCERTIFICATED):

 

Issuer

 

Description of Collateral

 

Percentage Ownership Interest

 

Acusphere Limited

 

65% ownership

 

65

%

 


 

EXHIBIT “E”
(See Section 3.1 of Security Agreement)

 

OFFICES IN WHICH FINANCING STATEMENTS HAVE BEEN FILED

 

Secretary of State of the State of Delaware

 


 

EXHIBIT “F”
(See Definition of “Commercial Tort Claims”)

 

COMMERCIAL TORT CLAIMS

 

[Describe parties, case number (if applicable), nature of dispute]

 

Claim filed by Xxxxxx Xxxxxx with the Commonwealth of Massachusetts - Commission Against Discrimination (MCAD), Claim No. 08BEM01015

 


 

EXHIBIT “G”

(See Section 3.10 of Security Agreement”)

 

FEDERAL EMPLOYER IDENTIFICATION NUMBER;

STATE ORGANIZATION NUMBER; JURISDICTION OF INCORPORATION

 

GRANTOR

 

Federal Employer
Identification
Number

 

Type of
Organization

 

State of
Organization or
Incorporation

 

State
Organization
Number

 

Acusphere, Inc.

 

00-0000000

 

Corporation

 

Delaware

 

2343382

 

Acusphere Securities Corp.

 

00-0000000

 

Corporation

 

Massachusetts

 

 

 

Acusphere Limited

 

SC268017

 

Corporation

 

United Kingdom

 

 

 

 


 

EXHIBIT “H”

(See Section 3.13 of Security Agreement”)

 

INSURANCE POLICIES

 

SEE ATTACHED INSURANCE OUTLINE

 


 

EXHIBIT “I”

(See Section 3.12.3 of Security Agreement”)

 

SEE ATTACHED IP SCHEDULE

 


 

Intellectual Property of the Company

 

 

 

Microencapsulated Fluorinated Gases for Use as Imaging Agents

 

 

 

 

 

 

 

ACU102

 

Australia

 

Grant

 

21392/97

 

Feb 27 1997

 

721209

 

Oct 12 0000

 

 

 

Xxxxxxx

 

Grant

 

97906791.5

 

Feb 27 1997

 

E266.426

 

May 12 0000

 

 

 

Xxxxxxx

 

Grant

 

97906791.5

 

Feb 27 1997

 

0904113

 

May 12 0000

 

 

 

Xxxxxx

 

Pending

 

PI9707936-7

 

Feb 27 1997

 

 

 

 

 

 

 

Canada

 

Grant

 

2,247,151

 

Feb 27 1997

 

2,247,151

 

May 20 0000

 

 

 

Xxxxx

 

Grant

 

97192870.3

 

Feb 27 1997

 

ZL97192870.3

 

Jul 02 2003

 

 

 

Czech Republic

 

Pending

 

PV2812-98

 

Feb 27 0000

 

 

 

 

 

 

 

Xxxxxxx

 

Grant

 

97906791.5

 

Feb 27 1997

 

0904113

 

May 12 2004

 

 

 

European Patent

 

Gone National

 

97906791.5

 

Feb 27 1997

 

0904113

 

May 12 0000

 

 

 

Xxxxxxx

 

Grant

 

97906791.5

 

Feb 27 1997

 

0904113

 

May 12 0000

 

 

 

Xxxxxx

 

Grant

 

97906791.5

 

Feb 27 1997

 

0904113

 

May 12 0000

 

 

 

Xxxxxxx

 

Grant

 

97906791.5

 

Feb 27 1997

 

69729088.3

 

May 12 0000

 

 

 

Xxxxxx

 

Grant

 

97906791.5

 

Feb 27 1997

 

20040402661

 

May 12 2004

 

 

 

Hong Kong

 

Grant

 

99104237.7

 

Sep 29 1999

 

HK1020428

 

Feb 25 0000

 

 

 

Xxxxxxx

 

Pending

 

P9902897

 

Feb 27 1997

 

 

 

 

 

 

 

Indonesia

 

Grant

 

P-970681

 

Mar 05 0000

 

XX 0000000

 

Xxx 00 0000

 

 

 

Xxxxxxx

 

Grant

 

97906791.5

 

Feb 27 1997

 

0904113

 

May 12 0000

 

 

 

Xxxxxx

 

Xxxxx

 

126073

 

Feb 27 1997

 

126073

 

May 12 0000

 

 

 

Xxxxx

 

Grant

 

97906791.5

 

Feb 27 1997

 

0904113

 

May 12 0000

 

 

 

Xxxxx

 

Grant

 

531838/97

 

Feb 27 1997

 

3,178,724

 

Apr 13 0000

 

 

 

Xxxxx, Xxxxxxxx of (South)

 

Grant

 

98-706964

 

Feb 27 1997

 

0477857

 

Mar 10 2005

 

 

 

Luxembourg

 

Grant

 

97906791.5

 

Feb 27 1997

 

0904113

 

May 12 0000

 

 

 

Xxxxxxxx

 

Xxxxx

 

XX 0000000

 

Mar 05 1997

 

MY-124549-A

 

Jun 30 2006

 

 

 

Monaco

 

Grant

 

97906791.5

 

Feb 27 1997

 

0904113

 

May 12 0000

 

 

 

Xxxxxxxxxxx

 

Grant

 

97906791.5

 

Feb 27 1997

 

0904113

 

May 12 2004

 

 

 

New Zealand

 

Grant

 

331460

 

Feb 27 1997

 

331460

 

Apr 26 0000

 

 

 

Xxxxxx

 

Grant

 

1998.4089

 

Feb 27 1997

 

312.940

 

Jul 22 0000

 

 

 

Xxxxxxxxxxx

 

Grant

 

55726

 

Mar 04 1997

 

1-1997-55726

 

Nov 15 0000

 

 

 

Xxxxxx

 

Grant

 

P328690

 

Feb 27 1997

 

PL 190452

 

Xxx 00 0000

 

 

 

Xxxxxxxx

 

Grant

 

97906791.5

 

Feb 27 1997

 

0904113

 

May 12 2004

 

 

 

Singapore

 

Grant

 

9805169-1

 

Feb 27 1997

 

56794

 

Nov 16 0000

 

 

 

Xxxxx Xxxxxx

 

Grant

 

97/1812

 

Xxx 00 0000

 

00/0000

 

Xxx 00 0000

 

 

 

Xxxxx

 

Grant

 

97906791.5

 

Feb 27 1997

 

0904113

 

May 12 0000

 

 

 

Xxxxxx

 

Grant

 

97906791.5

 

Feb 27 1997

 

0904113

 

May 12 0000

 

 

 

Xxxxxxxxxxx

 

Grant

 

97906791.5

 

Feb 27 1997

 

0904113

 

May 12 2004

 

 

 

Taiwan

 

Grant

 

86102918

 

Mar 10 1997

 

I246426

 

Xxx 00 0000

 

 

 

Xxxxxxxx

 

Pending

 

036055

 

Mar 05 1997

 

 

 

 

 

 

 

United Kingdom

 

Grant

 

97906791.5

 

Feb 27 1997

 

0904113

 

May 12 0000

 

 

 

Xxxxxx Xxxxxx of America

 

Grant

 

08/611,248

 

Mar 05 1996

 

5,611,344

 

Mar 18 1997

 

 


 

 

 

Title

 

 

 

 

 

 

 

 

 

 

File Number

 

Country Name

 

Status Description

 

Application Number

 

Appl. Date

 

Patent No.

 

Date of Grant

ACU102CON

 

Method for Making Porous Microparticles by Spray Drying

 

 

 

 

 

 

 

 

 

 

United States of America

 

Grant

 

08/745,676

 

Nov 08 1996

 

5,853,698

 

Dec 29 1998

 

 

 

 

 

 

 

 

 

 

 

 

 

ACU102CON(2)

 

Ultrasound Contrast Agents Produced By Spray Drying

 

 

 

 

 

 

 

 

 

 

 

 

United States of America

 

Grant

 

09/158,295

 

Sep 22 1998

 

6,132,699

 

Oct 17 2000

 

 

 

 

 

 

 

 

 

 

 

 

 

ACU103

 

Polymer-Lipid Microencapsulated Gases for Use as Imaging Agents

 

 

 

 

 

 

 

 

 

 

Australia

 

Grant

 

33672/97

 

Feb 27 1997

 

720727

 

Sep 21 0000

 

 

Xxxxxxx

 

Grant

 

97929669.6

 

Feb 27 1997

 

0957942

 

Jun 16 0000

 

 

Xxxxxxx

 

Grant

 

97929669.6

 

Feb 27 1997

 

0957942

 

Jun 16 0000

 

 

Xxxxxx

 

Pending

 

PI9711109-0

 

Feb 27 1997

 

 

 

 

 

 

Canada

 

Grant

 

2,260,938

 

Feb 27 1997

 

2,260,938

 

May 06 0000

 

 

Xxxxx

 

Grant

 

97196876.4

 

Feb 27 1997

 

ZL97196876.4

 

Oct 23 2002

 

 

Czech Republic

 

Pending

 

PV 328-99

 

Feb 27 1997

 

 

 

 

 

 

Denmark

 

Grant

 

97929669.6

 

Feb 27 1997

 

0957942

 

Jun 16 2004

 

 

European Patent

 

Gone National

 

97929669.6

 

Feb 27 1997

 

0957942

 

Jun 16 2004

 

 

Finland

 

Grant

 

97929669.6

 

Feb 27 1997

 

0957942

 

Jun 16 0000

 

 

Xxxxxx

 

Grant

 

97929669.6

 

Feb 27 1997

 

0957942

 

Jun 16 0000

 

 

Xxxxxxx

 

Grant

 

97929669.6

 

Feb 27 1997

 

69729579.6

 

Jun 16 0000

 

 

Xxxxxx

 

Grant

 

97929669.6

 

Feb 27 1997

 

0957942

 

Jun 16 2004

 

 

Hong Kong

 

Grant

 

00103029.9

 

Feb 27 1997

 

HK1023939

 

Apr 22 0000

 

 

Xxxxxxx

 

Pending

 

P0000392

 

Feb 27 1997

 

 

 

 

 

 

Indonesia

 

Grant

 

P-970682

 

Mar 05 1997

 

ID0006280

 

May 03 0000

 

 

Xxxxxxx

 

Grant

 

97929669.6

 

Feb 27 1997

 

0957942

 

Jun 16 2004

 

 

Xxxxxx

 

Xxxxx

 

128163

 

Feb 27 1997

 

128163

 

Jun 11 0000

 

 

Xxxxx

 

Grant

 

97929669.6

 

Feb 27 1997

 

0957942

 

Jun 16 0000

 

 

Xxxxx

 

Grant

 

508764/98

 

Feb 27 1997

 

2987212

 

Oct 01 0000

 

 

Xxxxx, Xxxxxxxx of (South)

 

Grant

 

00-0000000

 

Feb 27 1997

 

0477876

 

Mar 10 2005

 

 

Luxembourg

 

Grant

 

97929669.6

 

Feb 27 1997

 

0957942

 

Jun 16 0000

 

 

Xxxxxxxx

 

Xxxxx

 

XX 0000000

 

Mar 05 1997

 

MY-130324-A

 

Jun 29 2007

 

 

Monaco

 

Grant

 

97929669.6

 

Feb 27 1997

 

0957942

 

Jun 16 0000

 

 

Xxxxxxxxxxx

 

Grant

 

97929669.6

 

Feb 27 1997

 

0957942

 

Jun 16 2004

 

 

New Zealand

 

Grant

 

333864

 

Feb 27 1997

 

333864

 

Aug 17 0000

 

 

Xxxxxx

 

Grant

 

1999.0402

 

Feb 27 1997

 

318.460

 

Xxx 00 0000

 

 

Xxxxxxxxxxx

 

Grant

 

55724

 

Mar 04 1997

 

1-1997-55724

 

Xxx 00 0000

 

 

Xxxxxx

 

Grant

 

P331487

 

Feb 27 1997

 

188011

 

Feb 10 2005

 

 

Portugal

 

Grant

 

97929669.6

 

Feb 27 1997

 

0957942

 

Jun 16 2004

 

 

Singapore

 

Grant

 

9900418-6

 

Feb 27 1997

 

61311

 

May 23 0000

 

 

Xxxxx Xxxxxx

 

Grant

 

97/1813

 

Xxx 00 0000

 

00/0000

 

Xxx 00 0000

 

 

Xxxxx

 

Grant

 

97929669.6

 

Feb 27 1997

 

0957942

 

Jun 16 0000

 

 

Xxxxxx

 

Grant

 

97929669.6

 

Feb 27 1997

 

0957942

 

Jun 16 0000

 

 

Xxxxxxxxxxx

 

Grant

 

97929669.6

 

Feb 27 1997

 

0957942

 

Jun 16 2004

 

 

Taiwan

 

Grant

 

86102919

 

Mar 10 1997

 

NI-153017

 

Jul 23 0000

 

 

Xxxxxxxx

 

Grant

 

036054

 

Mar 05 1997

 

21009

 

Dec 06 2007

 

4


 

 

 

Title

 

 

 

 

 

 

 

 

 

 

File Number

 

Country Name

 

Status Description

 

Application Number

 

Appl. Date

 

Patent No.

 

Date of Grant

 

 

United Kingdom

 

Grant

 

97929669.6

 

Feb 27 1997

 

0957942

 

Jun 16 0000

 

 

Xxxxxx Xxxxxx of America

 

Grant

 

08/681,710

 

Jul 29 1996

 

5,837,221

 

Nov 17 1998

 

 

 

 

 

 

 

 

 

 

 

 

 

ACU104

 

Method for Enhancing the Echogenicity and Decreasing the Attenuation of Microencapsulated Gases

 

 

 

 

 

 

 

 

Austria

 

Grant

 

98932957.8

 

Jun 30 1998

 

E352322

 

Xxx 00 0000

 

 

Xxxxxxx

 

Grant

 

98932957.8

 

Jun 30 1998

 

0996470

 

Xxx 00 0000

 

 

Xxxxxx

 

Pending

 

PI9810371-7

 

Jun 30 1998

 

 

 

 

 

 

Canada

 

Allowed application

 

2,294,199

 

Jun 30 1998

 

 

 

 

 

 

China

 

Grant

 

98806720.X

 

Jun 30 1998

 

ZL98806720.X

 

Aug 09 0000

 

 

Xxxxxx

 

Grant

 

98932957.8

 

Jun 30 1998

 

0996470

 

Xxx 00 0000

 

 

Xxxxxxx

 

Grant

 

98932957.8

 

Jun 30 1998

 

0996470

 

Jan 24 2007

 

 

European Patent

 

Gone National

 

98932957.8

 

Jun 30 1998

 

0996470

 

Xxx 00 0000

 

 

Xxxxxxx

 

Grant

 

98932957.8

 

Jun 30 1998

 

0996470

 

Xxx 00 0000

 

 

Xxxxxx

 

Grant

 

98932957.8

 

Jun 30 1998

 

0996470

 

Xxx 00 0000

 

 

Xxxxxxx

 

Grant

 

98932957.8

 

Jun 30 1998

 

69836961.0

 

Xxx 00 0000

 

 

Xxxxxx

 

Grant

 

98932957.8

 

Jun 30 1998

 

0996470

 

Jan 24 2007

 

 

Hong Kong

 

Grant

 

00106986.3

 

Nov 02 2000

 

1029273

 

Aug 24 0000

 

 

Xxxxxxx

 

Grant

 

98932957.8

 

Jun 30 1998

 

0996470

 

Jan 24 2007

 

 

Xxxxxx

 

Xxxxx

 

133595

 

Jun 30 1998

 

133595

 

Sep 02 0000

 

 

Xxxxx

 

Grant

 

98932957.8

 

Jun 30 1998

 

0996470

 

Jan 24 0000

 

 

Xxxxx

 

Pending

 

1999-505860

 

Jun 30 0000

 

 

 

 

 

 

Xxxxx, Xxxxxxxx of (South)

 

Grant

 

1999-7012433

 

Jun 30 1998

 

00-0000000

 

Oct 16 0000

 

 

Xxxxxxxxxx

 

Grant

 

98932957.8

 

Jun 30 1998

 

0996470

 

Xxx 00 0000

 

 

Xxxxxxxx

 

Grant

 

PI9802974

 

Jun 30 1998

 

MY-122120-A

 

Mar 31 2006

 

 

Mexico

 

Grant

 

9911840

 

Jun 30 1998

 

236136

 

Apr 24 2006

 

 

Monaco

 

Grant

 

98932957.8

 

Jun 30 1998

 

0996470

 

Xxx 00 0000

 

 

Xxxxxxxxxxx

 

Grant

 

98932957.8

 

Jun 30 1998

 

0996470

 

Xxx 00 0000

 

 

Xxxxxx

 

Grant

 

19996512

 

Jun 30 1998

 

316614

 

Xxx 00 0000

 

 

Xxxxxxxxxxx

 

Grant

 

0-0000-00000

 

Jul 01 1998

 

1-1998-01674

 

May 26 2003

 

 

Portugal

 

Grant

 

98932957.8

 

Jun 30 1998

 

0996470

 

Xxx 00 0000

 

 

Xxxxx

 

Grant

 

98932957.8

 

Jun 30 1998

 

0996470

 

Xxx 00 0000

 

 

Xxxxxx

 

Grant

 

98932957.8

 

Jun 30 1998

 

0996470

 

Xxx 00 0000

 

 

Xxxxxxxxxxx

 

Grant

 

98932957.8

 

Jun 30 1998

 

0996470

 

Jan 24 2007

 

 

United Kingdom

 

Grant

 

98932957.8

 

Jun 30 1998

 

0996470

 

Jan 24 0000

 

 

Xxxxxx Xxxxxx of America

 

Grant

 

08/885,933

 

Jun 30 1997

 

6,045,777

 

Apr 04 2000

 

 

 

 

 

 

 

 

 

 

 

 

 

ACU105

 

Matrices Formed Of Polymer And Hydrophobic Compounds For Use In Drug Delivery

 

 

 

 

 

 

 

 

 

 

Australia

 

Grant

 

746696

 

Mar 08 1999

 

746696

 

Aug 15 0000

 

 

Xxxxxxx

 

Grant

 

99911269.1

 

Mar 08 1999

 

1073422

 

Xxx 00 0000

 

 

Xxxxxxx

 

Grant

 

99911269.1

 

Mar 08 1999

 

1073422

 

Xxx 00 0000

 

 

Xxxxxx

 

Pending

 

PI9910340-0

 

Mar 08 1999

 

 

 

 

 

 

Canada

 

Grant

 

2,329,875

 

Mar 08 1999

 

2,329,875

 

Sep 16 2003

 

5


 

 

 

Title

 

 

 

 

 

 

 

 

 

 

File Number

 

Country Name

 

Status Description

 

Application Number

 

Appl. Date

 

Patent No.

 

Date of Grant

 

 

China

 

Grant

 

99806372.X

 

Mar 08 1999

 

ZL99806372.X

 

May 18 0000

 

 

Xxxxxxx

 

Grant

 

99911269.1

 

Mar 08 1999

 

1073422

 

Mar 08 2006

 

 

European Patent

 

Gone National

 

99911269.1

 

Mar 08 1999

 

1073422

 

Xxx 00 0000

 

 

Xxxxxxx

 

Grant

 

99911269.1

 

Mar 08 1999

 

1073422

 

Xxx 00 0000

 

 

Xxxxxx

 

Grant

 

99911269.1

 

Mar 08 1999

 

1073422

 

Xxx 00 0000

 

 

Xxxxxxx

 

Grant

 

99911269.1

 

Mar 08 1999

 

69930240.4

 

Xxx 00 0000

 

 

Xxxxxx

 

Grant

 

99911269.1

 

Mar 08 1999

 

1073422

 

Xxx 00 0000

 

 

Xxxxxxx

 

Grant

 

99911269.1

 

Mar 08 1999

 

1073422

 

Xxx 00 0000

 

 

Xxxxxx

 

Xxxxx

 

139252

 

Mar 08 1999

 

139252

 

Feb 01 0000

 

 

Xxxxx

 

Grant

 

99911269.1

 

Mar 08 1999

 

1073422

 

Mar 08 0000

 

 

Xxxxx

 

Pending

 

2000-546758

 

Xxx 00 0000

 

 

 

 

 

 

Xxxxx, Xxxxxxxx of (South)

 

Grant

 

2000-7012030

 

Mar 08 1999

 

00-0000000

 

Mar 28 2007

 

 

Mexico

 

Allowed application

 

XX/x/0000/000000

 

Xxx 00 0000

 

 

 

 

 

 

Xxxxxxxxxxx

 

Grant

 

99911269.1

 

Mar 08 1999

 

1073422

 

Mar 08 2006

 

 

New Zealand

 

Grant

 

508470

 

Mar 08 1999

 

508470

 

Jun 09 0000

 

 

Xxxxxx

 

Grant

 

20005452

 

Mar 08 1999

 

324895

 

Xxx 00 0000

 

 

Xxxxxx

 

Grant

 

P343691

 

Mar 08 1999

 

196159

 

Nov 16 2007

 

 

Portugal

 

Grant

 

99911269.1

 

Mar 08 1999

 

1073422

 

Mar 08 2006

 

 

Singapore

 

Grant

 

200006235-6

 

Mar 08 1999

 

76927

 

Aug 21 0000

 

 

Xxxxx

 

Grant

 

99911269.1

 

Mar 08 1999

 

1073422

 

Xxx 00 0000

 

 

Xxxxxx

 

Grant

 

99911269.1

 

Mar 08 1999

 

1073422

 

Xxx 00 0000

 

 

Xxxxxxxxxxx

 

Grant

 

99911269.1

 

Mar 08 1999

 

1073422

 

Mar 08 2006

 

 

United Kingdom

 

Grant

 

99911269.1

 

Mar 08 1999

 

1073422

 

Mar 08 0000

 

 

Xxxxxx Xxxxxx xx Xxxxxxx

 

Grant

 

09/255,179

 

Feb 22 1999

 

6,423,345

 

Jul 23 2002

 

 

 

 

 

 

 

 

 

 

 

 

 

ACU105DIV

 

Matrices Formed Of Polymer And Hydrophobic Compounds For Use In Drug Delivery

 

 

 

 

 

 

 

 

 

 

United States of America

 

Grant

 

09/730,694

 

Dec 06 2000

 

7,160,557

 

Jan 09 2007

 

 

 

 

 

 

 

 

 

 

 

 

 

ACU105DIV(2)

 

Matrices Formed Of Polymer And Hydrophobic Compounds For Use In Drug Delivery

 

 

 

 

 

 

 

 

 

 

United States of America

 

Grant

 

09/731,412

 

Dec 06 2000

 

7,052,719

 

May 30 2006

 

 

 

 

 

 

 

 

 

 

 

 

 

ACU105DIV(2)CON

 

Matrices Formed Of Polymer And Hydrophobic Compounds For Use In Drug Delivery

 

 

 

 

 

 

 

 

 

 

United States of America

 

Grant

 

10/383,264

 

Mar 05 2003

 

6,689,390

 

Feb 10 2004

 

 

 

 

 

 

 

 

 

 

 

 

 

ACU105DIVCON

 

Matrices Formed Of Polymer And Hydrophobic Compounds For Use In Drug Delivery

 

 

 

 

 

 

 

 

 

 

United States of America

 

Grant

 

10/384,902

 

Mar 06 2003

 

6,730,322

 

May 04 2004

 

 

 

 

 

 

 

 

 

 

 

 

 

ACU105DIVCON(2)

 

Matrices Formed Of Polymer And Hydrophobic Compounds For Use In Drug Delivery

 

 

 

 

 

 

 

 

 

 

United States of America

 

Pending

 

11/617,935

 

Dec 29 2006

 

 

 

 

 

6


 

 

 

Title

 

 

 

 

 

 

 

 

 

 

File Number

 

Country Name

 

Status Description

 

Application Number

 

Appl. Date

 

Patent No.

 

Date of Grant

ACU108

 

Spray Drying Apparatus And Methods Of Use

 

 

 

 

 

 

 

 

 

 

 

 

Australia

 

Grant

 

769298

 

Apr 26 2000

 

769298

 

May 06 0000

 

 

Xxxxxxx

 

Grant

 

00928391.2

 

Apr 26 2000

 

E260.707

 

Xxx 00 0000

 

 

Xxxxxxx

 

Grant

 

00928391.2

 

Apr 26 2000

 

1175257

 

Xxx 00 0000

 

 

Xxxxxx

 

Pending

 

PI0011226-7

 

Apr 26 2000

 

 

 

 

 

 

Canada

 

Grant

 

2,372,194

 

Apr 26 2000

 

2,372,194

 

Xxx 00 0000

 

 

Xxxxx

 

Grant

 

00807223.X

 

Apr 26 2000

 

ZL00807223.X

 

Apr 21 0000

 

 

Xxxxxx

 

Grant

 

00928391.2

 

Apr 26 2000

 

1175257

 

Xxx 00 0000

 

 

Xxxxxxx

 

Grant

 

00928391.2

 

Apr 26 2000

 

1175257

 

Mar 03 2004

 

 

European Patent

 

Gone National

 

00928391.2

 

Apr 26 2000

 

1175257

 

Xxx 00 0000

 

 

Xxxxxxx

 

Grant

 

00928391.2

 

Apr 26 2000

 

1175257

 

Xxx 00 0000

 

 

Xxxxxx

 

Grant

 

00928391.2

 

Apr 26 2000

 

1175257

 

Xxx 00 0000

 

 

Xxxxxxx

 

Grant

 

00928391.2

 

Apr 26 2000

 

60008720.4

 

Xxx 00 0000

 

 

Xxxxxx

 

Grant

 

00928391.2

 

Apr 26 2000

 

20040401759

 

Mar 03 2004

 

 

Ireland

 

Grant

 

00928391.2

 

Apr 26 2000

 

1175257

 

Xxx 00 0000

 

 

Xxxxxx

 

Xxxxx

 

146265

 

Apr 26 2000

 

146265

 

Apr 25 0000

 

 

Xxxxx

 

Grant

 

00928391.2

 

Apr 26 2000

 

1175257

 

Mar 03 0000

 

 

Xxxxx

 

Pending

 

2000-615133

 

Apr 26 0000

 

 

 

 

 

 

Xxxxx, Xxxxxxxx of (South)

 

Grant

 

2001-7013974

 

Apr 26 2000

 

0464065

 

Dec 20 0000

 

 

Xxxxxxxxxx

 

Grant

 

00928391.2

 

Apr 26 2000

 

1175257

 

Xxx 00 0000

 

 

Xxxxxxxx

 

Grant

 

PI20001901

 

May 03 2000

 

MY-125075-A

 

Jul 31 2006

 

 

Monaco

 

Grant

 

00928391.2

 

Apr 26 2000

 

1175257

 

Xxx 00 0000

 

 

Xxxxxxxxxxx

 

Grant

 

00928391.2

 

Apr 26 2000

 

1175257

 

Mar 03 2004

 

 

New Zealand

 

Grant

 

515684

 

Apr 26 2000

 

515684

 

Sep 08 0000

 

 

Xxxxxx

 

Grant

 

20015351

 

Apr 26 2000

 

321912

 

Jul 17 0000

 

 

Xxxxxxxxxxx

 

Grant

 

0-0000-00000

 

May 03 2000

 

1-2000-01120

 

Feb 07 2006

 

 

Portugal

 

Grant

 

00928391.2

 

Apr 26 2000

 

1175257

 

Mar 03 2004

 

 

Singapore

 

Grant

 

200106762-8

 

Apr 26 2000

 

84699

 

Feb 28 0000

 

 

Xxxxx Xxxxxx

 

Grant

 

2001/9553

 

Apr 26 2000

 

2001/9553

 

Aug 27 0000

 

 

Xxxxx

 

Grant

 

00928391.2

 

Apr 26 2000

 

1175257

 

Xxx 00 0000

 

 

Xxxxxx

 

Grant

 

00928391.2

 

Apr 26 2000

 

1175257

 

Xxx 00 0000

 

 

Xxxxxxxxxxx

 

Grant

 

00928391.2

 

Apr 26 2000

 

1175257

 

Mar 03 2004

 

 

Taiwan

 

Grant

 

89108409

 

Jul 13 2000

 

NI-187729

 

Feb 05 0000

 

 

Xxxxxxxx

 

Grant

 

057275

 

May 03 2000

 

23591

 

Apr 21 2008

 

 

United Kingdom

 

Grant

 

00928391.2

 

Apr 26 2000

 

1175257

 

Mar 03 0000

 

 

Xxxxxx Xxxxxx of America

 

Grant

 

09/304,257

 

May 03 1999

 

6,223,455

 

May 01 2001

 

 

 

 

 

 

 

 

 

 

 

 

 

ACU108CIP

 

Spray Drying Apparatus And Methods Of Use

 

 

 

 

 

 

 

 

 

 

 

 

United States of America

 

Grant

 

09/756,950

 

Jan 09 2001

 

6,308,434

 

Oct 30 2001

 

7


 

 

 

Title

 

 

 

 

 

 

 

 

 

 

File Number

 

Country Name

 

Status Description

 

Application Number

 

Appl. Date

 

Patent No.

 

Date of Grant

ACU108CIP(2)

 

Spray Drying Apparatus And Methods Of Use

 

 

 

 

 

 

 

 

 

 

 

 

United States of America

 

Grant

 

10/045,419

 

Oct 26 2001

 

6,560,897

 

May 13 2003

 

 

 

 

 

 

 

 

 

 

 

 

 

ACU109

 

Porous Drug Matrices And Methods For Manufacture Thereof

 

 

 

 

 

 

 

 

 

 

United States of America

 

Grant

 

09/433,486

 

Nov 04 1999

 

6,395,300

 

May 28 2002

 

 

 

 

 

 

 

 

 

 

 

 

 

ACU109/110

 

Porous Drug Matrices And Methods Of Manufacture Thereof

 

 

 

 

 

 

 

 

 

 

Australia

 

Grant

 

768022

 

May 25 2000

 

768022

 

Mar 11 0000

 

 

Xxxxxxx

 

Grant

 

00939365.3

 

May 25 2000

 

1180020

 

Xxx 00 0000

 

 

Xxxxxxx

 

Grant

 

00939365.3

 

May 25 2000

 

1180020

 

Xxx 00 0000

 

 

Xxxxxx

 

Pending

 

PI0010984-3

 

May 25 2000

 

 

 

 

 

 

Canada

 

Grant

 

2,371,836

 

May 25 2000

 

2,371,836

 

Xxx 00 0000

 

 

Xxxxx

 

Grant

 

00808161.1

 

May 25 2000

 

ZL00808161.1

 

Feb 08 0000

 

 

Xxxxxxx

 

Grant

 

00939365.3

 

May 25 2000

 

1180020

 

Dec 14 2005

 

 

European Patent

 

Gone National

 

00939365.3

 

May 25 2000

 

1180020

 

Xxx 00 0000

 

 

Xxxxxxx

 

Grant

 

00939365.3

 

May 25 2000

 

1180020

 

Xxx 00 0000

 

 

Xxxxxx

 

Grant

 

00939365.3

 

May 25 2000

 

1180020

 

Xxx 00 0000

 

 

Xxxxxxx

 

Grant

 

00939365.3

 

May 25 2000

 

60024811.9

 

Xxx 00 0000

 

 

Xxxx Xxxx

 

Xxxxx

 

03101310.8

 

May 25 2000

 

XX0000000

 

Jul 28 0000

 

 

Xxxxxxx

 

Grant

 

00939365.3

 

May 25 2000

 

1180020

 

Xxx 00 0000

 

 

Xxxxxx

 

Pending

 

146659

 

May 25 0000

 

 

 

 

 

 

Xxxxx

 

Grant

 

00939365.3

 

May 25 2000

 

1180020

 

Dec 14 0000

 

 

Xxxxx

 

Pending

 

2000-620939

 

May 25 0000

 

 

 

 

 

 

Xxxxx, Xxxxxxxx of (South)

 

Grant

 

2001-7015052

 

May 25 2000

 

00-0000000

 

Aug 17 0000

 

 

Xxxxxx

 

Grant

 

PA/a/2001/012106

 

May 25 2000

 

244662

 

Apr 02 0000

 

 

Xxxxxxxxxxx

 

Grant

 

00939365.3

 

May 25 2000

 

1180020

 

Dec 14 2005

 

 

New Zealand

 

Grant

 

516083

 

May 25 2000

 

516083

 

Xxx 00 0000

 

 

Xxxxxx

 

Grant

 

20015753

 

May 25 2000

 

323761

 

Jul 02 0000

 

 

Xxxxxxxxxxx

 

Grant

 

0-0000-00000

 

May 29 2000

 

1-2000-001402

 

Nov 21 2006

 

 

Portugal

 

Grant

 

00939365.3

 

May 25 2000

 

1180020

 

Dec 14 2005

 

 

Singapore

 

Grant

 

200107349-3

 

May 25 2000

 

85293

 

Jan 30 0000

 

 

Xxxxx Xxxxxx

 

Grant

 

2001/10347

 

May 25 2000

 

2001/10347

 

Sep 23 0000

 

 

Xxxxx

 

Grant

 

00939365.3

 

May 25 2000

 

1180020

 

Xxx 00 0000

 

 

Xxxxxx

 

Grant

 

00939365.3

 

May 25 2000

 

1180020

 

Xxx 00 0000

 

 

Xxxxxxxxxxx

 

Grant

 

00939365.3

 

May 25 2000

 

1180020

 

Dec 14 2005

 

 

Taiwan

 

Grant

 

89110363

 

May 29 2000

 

I274589

 

Xxx 00 0000

 

 

Xxxxxxxx

 

Pending

 

057899

 

May 29 2000

 

 

 

 

 

 

United Kingdom

 

Grant

 

00939365.3

 

May 25 2000

 

1180020

 

Dec 14 2005

 

 

 

 

 

 

 

 

 

 

 

 

 

ACU109/110DIV

 

Porous Drug Matrices And Methods Of Manufacture Thereof

 

 

 

 

 

 

 

 

 

 

China

 

Grant

 

200510136940.4

 

Dec 15 2005

 

ZL200510136940.4

 

Mar 26 2008

 

8


 

 

 

Title

 

 

 

 

 

 

 

 

 

 

File Number

 

Country Name

 

Status Description

 

Application Number

 

Appl. Date

 

Patent No.

 

Date of Grant

 

 

European Patent

 

Pending

 

05027194.9

 

May 25 2000

 

 

 

 

 

 

Hong Kong

 

Pending

 

07102209.6

 

May 25 0000

 

 

 

 

 

 

Xxxxx, Xxxxxxxx of (South)

 

Pending

 

2007-7012286

 

May 25 0000

 

 

 

 

 

 

Xxxxxxxxxxx

 

Pending

 

0-0000-000000

 

May 29 2000

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

ACU109CIP

 

Porous Drug Matrices And Methods For Manufacture Thereof

 

 

 

 

 

 

 

 

 

 

United States of America

 

Pending

 

10/053,929

 

Jan 22 2002

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

ACU109CIPDIV

 

Porous Drug Matrices And Methods For Manufacture Thereof

 

 

 

 

 

 

 

 

 

 

United States of America

 

Pending

 

10/924,642

 

Aug 24 2004

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

ACU109CIPDIV(2)

 

Porous Drug Matrices and Methods of Manufacture Thereof

 

 

 

 

 

 

 

 

 

 

United States of America

 

Pending

 

10/928,886

 

Aug 27 2004

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

ACU109DIV

 

Porous Drug Matrices And Methods For Manufacture Thereof

 

 

 

 

 

 

 

 

 

 

United States of America

 

Grant

 

09/694,407

 

Oct 23 2000

 

6,645,528

 

Nov 11 2003

 

 

 

 

 

 

 

 

 

 

 

 

 

ACU109DIV(2)

 

Porous Drug Matrices And Methods For Manufacture Thereof

 

 

 

 

 

 

 

 

 

 

United States of America

 

Grant

 

09/706,045

 

Nov 03 2000

 

6,932,983

 

Aug 23 2005

 

 

 

 

 

 

 

 

 

 

 

 

 

ACU110

 

Porous Paclitaxel Matrices And Methods Of Manufacturing Thereof

 

 

 

 

 

 

 

 

 

 

United States of America

 

Grant

 

09/798,824

 

Mar 02 2001

 

6,610,317

 

Aug 26 2003

 

 

 

 

 

 

 

 

 

 

 

 

 

ACU110REISSUE

 

Porous Paclitaxel Matrices and Methods of Manufacture Thereof

 

 

 

 

 

 

 

 

 

 

United States of America

 

Grant

 

11/213,257

 

Aug 26 2005

 

RE40,493

 

Sep 09 2009

 

 

 

 

 

 

 

 

 

 

 

 

 

ACU111

 

Porous Celecoxib Matrices And Methods of Manufacture Thereof

 

 

 

 

 

 

 

 

 

 

Canada

 

Grant

 

2,412,885

 

Jun 15 2001

 

2,412,885

 

Sep 05 0000

 

 

Xxxxx

 

Pending

 

2002-510056

 

Jun 15 0000

 

 

 

 

 

 

Xxxxxx Xxxxxx xx Xxxxxxx

 

Grant

 

09/881,289

 

Jun 14 2001

 

6,589,557

 

Jul 08 2003

 

 

 

 

 

 

 

 

 

 

 

 

 

ACU111CIP

 

Porous Xxx-2 Inhibitor Matrices and Methods of Manufacture Thereof

 

 

 

 

 

 

 

 

 

 

United States of America

 

Grant

 

10/441,440

 

May 19 2003

 

6,800,297

 

Oct 05 2004

 

9


 

 

 

Title

 

 

 

 

 

 

 

 

 

 

File Number

 

Country Name

 

Status Description

 

Application Number

 

Appl. Date

 

Patent No.

 

Date of Grant

ACU116

 

Ultrasound Contrast Agent Dosage Formulation

 

 

 

 

 

 

 

 

 

 

 

 

Australia

 

Pending

 

2004320514

 

Jun 04 2004

 

 

 

 

 

 

Brazil

 

Pending

 

PI0418879-9

 

Jun 04 2004

 

 

 

 

 

 

Canada

 

Pending

 

2,569,134

 

Jun 04 2004

 

 

 

 

 

 

China

 

Pending

 

200480043713.0

 

Jun 04 2004

 

 

 

 

 

 

European Patent

 

Pending

 

04014021.2

 

Jun 15 2004

 

 

 

 

 

 

Hong Kong

 

Pending

 

06106371.0

 

Jun 02 2006

 

 

 

 

 

 

India

 

Pending

 

7358/DELNP/2006

 

Jun 04 2004

 

 

 

 

 

 

Indonesia

 

Pending

 

W00200603448

 

Jun 04 2004

 

 

 

 

 

 

Israel

 

Pending

 

179594

 

Xxx 00 0000

 

 

 

 

 

 

Xxxxx

 

Pending

 

Jun 04 2004

 

 

 

 

 

 

 

 

Korea, Republic of (South)

 

Pending

 

2007-7000082

 

Jun 04 2004

 

 

 

 

 

 

Malta

 

Grant

 

2248

 

Jun 11 2004

 

XXX/2248

 

Xxx 00 0000

 

 

Xxxxxx

 

Pending

 

PA/a/2006/01411

 

Jun 04 2004

 

 

 

 

 

 

New Zealand

 

Pending

 

551986

 

Jun 04 2004

 

 

 

 

 

 

Norway

 

Pending

 

2007 0070

 

Jun 04 0000

 

 

 

 

 

 

Xxxxxxxxxxx

 

Pending

 

0-0000-000000

 

Jun 04 2004

 

 

 

 

 

 

Russian Federation

 

Allowed application

 

2006147232

 

Jun 04 2004

 

 

 

 

 

 

Singapore

 

Pending

 

200608260-6

 

Jun 04 0000

 

 

 

 

 

 

Xxxxx Xxxxxx

 

Allowed application

 

2006/09760

 

Jun 04 0000

 

 

 

 

 

 

Xxxxxx Xxxxxx of America

 

Pending

 

11/143,170

 

Jun 02 0000

 

 

 

 

 

 

Xxxxxx Xxxxxx of America

 

Pending

 

11/834,111

 

Aug 06 2007

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

ACU118

 

Ultrasonic Contrast Agents, Process for Their Preparation and Their Use as a Diagnostic and Therapeutic Agent

 

 

 

 

 

 

 

 

Denmark

 

Grant

 

1990 01864

 

Feb 01 0000

 

XX 000000

 

Mar 14 2005

 

 

 

 

 

 

 

 

 

 

 

 

 

ACU118CNT3

 

Ultrasonic Contrast Agents, Process for Their Preparation and Their Use as a Diagnostic and Therapeutic Agent

 

 

 

 

 

 

 

 

United States of America

 

Grant

 

08/072,748

 

Jun 07 1993

 

5,425,366

 

Jun 20 1995

 

 

 

 

 

 

 

 

 

 

 

 

 

ACU118CNT5

 

Ultrasonic Contrast Agents, Process for Their Preparation and Their Use as a Diagnostic and Therapeutic Agent

 

 

 

 

 

 

 

 

United States of America

 

Grant

 

08/477,642

 

Jun 07 1995

 

6,071,496

 

Jun 06 2000

 

 

 

 

 

 

 

 

 

 

 

 

 

ACU118CNT6

 

Ultrasonic Contrast Agents, Process for Their Preparation and Their Use as a Diagnostic and Therapeutic Agent

 

 

 

 

 

 

 

 

United States of America

 

Grant

 

08/474,468

 

Jun 07 1995

 

6,177,062

 

Jan 23 2001

 

 

 

 

 

 

 

 

 

 

 

 

 

ACU122

 

Microparticle Preparations Made From Biodegradable Copolymers

 

 

 

 

 

 

 

 

 

 

United States of America

 

Grant

 

08/897,319

 

Jul 21 1997

 

6,383,470

 

May 07 2002

 

 

 

 

 

 

 

 

 

 

 

 

 

ACU123

 

Active Principles and Gas Conatining Microparticles

 

 

 

 

 

 

 

 

 

 

 

 

United States of America

 

Grant

 

08/605,174

 

Aug 05 1996

 

6,068,857

 

May 30 2000

 

10


 

 

 

Title

 

 

 

 

 

 

 

 

 

 

File Number

 

Country Name

 

Status Description

 

Application Number

 

Appl. Date

 

Patent No.

 

Date of Grant

ACU123DIV

 

New Microparticles Containing Active Ingredients, Agents Containing These Microparticles, Their Use for Ultrasound-Controlled Release of Active Ingredients, as well as a Process for their Production

 

 

United States of America

 

Grant

 

09/459,578

 

Dec 13 1999

 

6,284,280

 

Sep 04 2001

 

 

 

 

 

 

 

 

 

 

 

 

 

ACU124

 

Microparticles That Contain Gas, Media That Contain The Latter, Their Use In Ultrasound Diagnosis, As Well As Process For The Production Of The Particles And Media

 

 

Japan

 

Pending

 

7-522099

 

Feb 10 0000

 

 

 

 

 

 

Xxxxxx

 

Grant

 

19963501

 

Feb 10 1995

 

312497

 

May 21 0000

 

 

Xxxxxx Xxxxxx of America

 

Grant

 

09/129,953

 

Aug 06 1998

 

6,306,366

 

Oct 22 2001

 

 

 

 

 

 

 

 

 

 

 

 

 

ACU125

 

Multi-State Method For Producing Gas-FIlled Microcapsules

 

 

 

 

 

 

 

 

Hong Kong

 

Grant

 

03102710.2

 

Apr 15 2003

 

HK1050492

 

Sep 16 0000

 

 

Xxxxx, Xxxxxxxx of (South)

 

Grant

 

00-0000-0000000

 

May 23 2000

 

681369

 

Feb 05 0000

 

 

Xxxxxx

 

Grant

 

PA/A/2001/011998

 

May 23 2000

 

228943

 

Jul 06 2005

 

 

New Zealand

 

Grant

 

515147

 

May 23 2000

 

515147

 

Nov 03 0000

 

 

Xxxxxx Xxxxxx of America

 

Grant

 

09/979,554

 

Mar 27 2002

 

6,652,782

 

Nov 25 2003

 

 

 

 

 

 

 

 

 

 

 

 

 

ACU126

 

Device and Process for Quantifying Bodies

 

 

 

 

 

 

 

 

European Patent

 

Pending

 

03745194.5

 

Xxx 00 0000

 

 

 

 

 

 

Xxxxx

 

Pending

 

2003-579664

 

Mar 27 0000

 

 

 

 

 

 

Xxxxxx Xxxxxx of America

 

Grant

 

10/400,928

 

Mar 28 2003

 

6,872,180

 

Mar 29 2005

 

 

 

 

 

 

 

 

 

 

 

 

 

ACU142(8)

 

Taxane Formulations For Local Treatment

 

 

 

 

 

 

 

 

United States of America

 

Pending

 

60/988,057

 

Nov 14 2007

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

ACU143

 

Formulations of Tetrahydropyridine Antiplatelet Agents For Parenteral Or Oral Administration

 

 

 

 

 

 

 

PCT

 

Pending

 

PCT/US2007/084040

 

Nov 08 2007

 

 

 

 

 

The highlighted patents are subject to the terms of a License Agreement dated March 28, 2008 between Cephalon, Inc. and Acusphere, Inc., as amended from time to time in accordance with its terms (a copy of the License Agreement was filed as an exhibit to Acusphere’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2008).

 

11


 

Acusphere, Inc. – List of Cases (Xxxxxxxxxx)

 

Acusphere, Inc. – Patent Portfolio (Xxxxxxxxxx)

 

ACU 112 – Methods for Making Pharmaceutical Formulations Comprising Deagglomerated Microparticles

 

Acusphere Reference
No.

 

Country

 

Application No.

 

Filing Date

 

Xxxxxx

 

Xxxxxx Xx.

XXX 000

 

Xxxxxx Xxxxxx

 

10/324,558

 

12/19/2002

 

Pending

 

 

ACU 112 DIV

 

United States

 

11/305,461

 

12/16/2005

 

Pending

 

 

ACU 112 DIV2

 

United States

 

11/305,620

 

12/16/2005

 

Pending

 

 

ACU 112 CIP

 

United States

 

10/955,261

 

09/30/2004

 

Pending

 

 

ACU 112 AU

 

Australia

 

2003295698

 

06/06/2005

 

Pending

 

 

ACU 000 XX

 

Xxxxxx

 

0000000-0

 

06/20/2005

 

Pending

 

 

ACU 112 EP

 

European Patent Convention

 

03 786 899.9

 

07/11/2005

 

Pending

 

 

ACU 112 IN

 

India

 

1037/KOLNP/2005

 

05/31/2005

 

Granted

 

216049

ACU 112 IL

 

Israel

 

168673

 

05/18/2005

 

Pending

 

 

ACU 112 JP

 

Japan

 

2004-565051

 

06/17/2005

 

Pending

 

 

ACU 000 XX

 

Xxxxx Xxxxxx

 

2005/04213

 

06/19/2005

 

Granted

 

2005/004213

 

ACU 114 – Methods and Apparatus for Making Particles Using Spray Dryer and In-Line Jet Mill

 

Acusphere Reference
No.

 

Country

 

Application No.

 

Filing Date

 

Status

 

Patent No.

ACU 000

 

Xxxxxx Xxxxxx

 

10/324,943

 

12/19/2002

 

Granted

 

6,962,006

ACU 114 DIV

 

United States

 

10/752,861

 

01/07/2004

 

Granted

 

6,921,458

XXX 000 XXX0

 

Xxxxxx Xxxxxx

 

10/752,910

 

01/07/2004

 

Granted

 

6,918,991

XXX 000 XXX

 

Xxxxxx Xxxxxx

 

11/142,917

 

06/02/2005

 

Pending

 

 

ACU 114 AU

 

Australia

 

2003295704

 

07/04/2005

 

Granted

 

2003295704

ACU 114 BR

 

Brazil

 

0317595-2

 

06/20/2005

 

Pending

 

 

ACU 000 XX

 

Xxxxxx

 

2,511,376

 

06/20/2005

 

Pending

 

 

ACU 114 CN

 

China (Peoples Republic)

 

200380106437.3

 

06/17/2005

 

Pending

 

 

ACU 114 EP

 

European Patent

 

03 786 905.4

 

07/11/2005

 

Pending

 

 

 


 

 

 

Convention

 

 

 

 

 

 

 

 

ACU 114 IN

 

India

 

1086/K100LNP/2005

 

06/07/2005

 

Granted

 

217417

ACU 114 IL

 

Israel

 

168746

 

05/23/2005

 

Granted

 

Awaiting

ACU 114 IL DIV

 

Israel

 

188086

 

12/12/2007

 

Pending

 

 

ACU 114 JP

 

Japan

 

2004-565053

 

06/17/2005

 

Pending

 

 

ACU 000 XX

 

Xxxxx Xxxxxx

 

2005/04300

 

06/19/2005

 

Granted

 

2005/04300

 

ACU 115 – Sustained Release Pharmaceutical Formulation for Inhalation

 

Acusphere Reference
No.

 

Country

 

Application No.

 

Filing Date

 

Xxxxxx

 

Xxxxxx Xx.

XXX 000

 

Xxxxxx Xxxxxx

 

10/675,874

 

09/30/2002

 

Pending

 

 

ACU 115 EP

 

European Patent Convention

 

03 770 579.5

 

04/28/2005

 

Pending

 

 

ACU 115 JP

 

Japan

 

2004-541904

 

03/24/2005

 

Pending

 

 

 

ACU 136 – Processes for Making Particle-Based Pharmaceutical Formulations for Oral Administration

 

Acusphere Reference
No.

 

Country / Application
Type

 

Application No.

 

Filing Date

 

Xxxxxx

 

Xxxxxx Xx.

XXX 000

 

Xxxxxx Xxxxxx

 

11/610,802

 

12/14/2006

 

Pending

 

 

ACU 136 CA

 

Canada

 

2631492

 

05/29/2008

 

Pending

 

 

ACU 136 EP

 

European Patent Convention

 

06846616.8

 

07/10/2008

 

Pending

 

 

ACU 136 IN

 

India

 

2107/KOLNP/2008

 

05/26/2008

 

Pending

 

 

ACU 136 JP

 

Japan

 

Not Yet Available

 

06/13/2008

 

Pending

 

 

 

ACU 137 – Processes for Making Particle-Based Pharmaceutical Formulations for Pulmonary Administration

 

Acusphere Reference
No.

 

Country / Application
Type

 

Application No.

 

Filing Date

 

Xxxxxx

 

Xxxxxx Xx.

XXX 000

 

Xxxxxx Xxxxxx

 

11/610,814

 

12/14/2006

 

Pending

 

 

ACU 137 CA

 

Canada

 

2631493

 

05/29/2008

 

Pending

 

 

ACU 137 EP

 

European Patent Convention

 

06840262.7

 

07/01/2008

 

Pending

 

 

ACU 137 IN

 

India

 

2367/KOLNP/2008

 

06/12/2008

 

Pending

 

 

ACU 137 JP

 

Japan

 

Not Yet Available

 

06/13/2008

 

Pending

 

 

 


 

ACU 138 – Processes for Making Particle-Based Pharmaceutical Formulations for Parenteral Administration

 

Acusphere Reference
No.

 

Country / Application
Type

 

Application No.

 

Filing Date

 

Xxxxxx

 

Xxxxxx Xx.

XXX 000

 

Xxxxxx Xxxxxx

 

11/610,791

 

12/14/2006

 

Pending

 

 

ACU 138 CA

 

Canada

 

2631494

 

05/29/2008

 

Pending

 

 

ACU 138 EP

 

European Patent Convention

 

06840263.5

 

07/01/2008

 

Pending

 

 

ACU 138 IN

 

India

 

2258/KOLNP/2008

 

06/04/2008

 

Pending

 

 

ACU 138 JP

 

Japan

 

Not Yet Available

 

06/13/2008

 

Pending

 

 

 

ACU 139 – Injectable, Oral, or Topical Sustained Release Pharmaceutical Formulations

 

Acusphere Reference
No.

 

Country / Application
Type

 

Application No.

 

Filing Date

 

Xxxxxx

 

Xxxxxx Xx.

XXX 000

 

Xxxxxx Xxxxxx

 

10/950,856

 

09/27/2004

 

Pending

 

 

ACU 139 DIV

 

United States

 

11/829,629

 

07/27/2007

 

Pending

 

 

ACU 139 CA

 

Canada

 

2,533,887

 

01/26/2006

 

Pending

 

 

ACU 139 EP

 

European Patent Convention

 

04789069.4

 

03/02/2006

 

Pending

 

 

ACU 139 IL

 

Israel

 

173571

 

02/06/2006

 

Pending

 

 

ACU 139 IN

 

India

 

923./KOLNP/2006

 

04/13/2006

 

Pending

 

 

ACU 139 JP

 

Japan

 

2006-533991

 

03/13/2006

 

Pending

 

 

 


 

Trademarks

 

Trademark

 

Country

 

Status

 

Appl. No.

 

Reg No.

 

Filing Date

 

RegDate

HDDS

 

United States of America

 

Registered

 

76/138917

 

2923584

 

02-Oct-2000

 

01-Feb-2005

IMAGIFY

 

Brazil

 

Published

 

828.898.464

 

 

 

21-Dec-2006

 

 

IMAGIFY

 

Canada

 

Approved for Publ

 

1307213

 

 

 

28-Jun-2006

 

 

IMAGIFY

 

China (Peoples Republic)

 

Pending

 

5752532

 

 

 

28-Nov-2006

 

 

IMAGIFY

 

European Community

 

Registered

 

5170378

 

5170378

 

29-Jun-2006

 

07-Jun-2007

IMAGIFY

 

Japan

 

Registered

 

2006-110894

 

5043084

 

30-Nov-2006

 

20-Apr-2007

IMAGIFY

 

Mexico

 

Registered

 

826468

 

1003404

 

19-Dec-2006

 

21-Sep-2007

IMAGIFY

 

Switzerland

 

Registered

 

60795/2006

 

555585

 

28-Nov-2006

 

19-Feb-2007

IMAGIFY

 

United States of America

 

ExtReq#1

 

78/919287

 

 

 

28-Jun-2006

 

 

XACTURIS

 

Canada

 

Approved for Publ

 

1307215

 

 

 

28-Jun-2006

 

 

XACTURIS

 

European Community

 

Registered

 

5170535

 

5170535

 

29-Jun-2006

 

29-Aug-2007

XACTURIS

 

United States of America

 

ExtReq#1

 

78/919263

 

 

 

28-Jun-2006

 

 

ZACUNOST

 

Brazil

 

Published

 

828.898.456

 

 

 

21-Dec-2006

 

 

ZACUNOST

 

Canada

 

Approved for Publ

 

1307214

 

 

 

28-Jun-2006

 

 

ZACUNOST

 

China (Peoples Republic)

 

Pending

 

5752533

 

 

 

28-Nov-2006

 

 

ZACUNOST

 

European Community

 

Registered

 

5170469

 

5170469

 

29-Jun-2006

 

29-Aug-2007

ZACUNOST

 

Japan

 

Registered

 

2006-110893

 

5043083

 

00-Xxx-0000

 

00-Xxx-0000

XXXXXXXX

 

Xxxxxx

 

Registered

 

826473

 

1004021

 

19-Dec-2006

 

26-Sep-2007

ZACUNOST

 

Switzerland

 

Registered

 

60793/2006

 

554403

 

28-Nov-2006

 

19-Jan-2007

ZACUNOST

 

United States of America

 

ExtReq#1

 

78/919274

 

 

 

28-Jun-2006

 

 

ACUSPHERE

 

United States of America

 

Pending

 

78/942646

 

 

 

1-Aug-2006

 

 

 

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Filed: October 27th, 2008
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