EXHIBIT 10.5
COLLATERAL PATENT ASSIGNMENT
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WHEREAS, NMT Medical, Inc. (f/k/a Nitinol Medical Technologies, Inc.), a
Delaware corporation (the "Debtor"), owns the patents and the patent
applications and any and all patents which may issue therefrom (collectively,
the "Patent Rights"), for which there are recordings or applications in the
United States Patent and Trademark Office under the numbers shown on Schedule A;
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WHEREAS, the Debtor has entered into that certain Credit Agreement, dated
as of the date hereof, among the Debtor, certain subsidiaries of the Debtor
named therein (together with the Debtor, the "NMT Entities") and Brown Brothers
Xxxxxxxx & Co. (the "Secured Party") (as amended, supplemented, extended or
otherwise modified from time to time, the "U.S. Credit Agreement"), pursuant to
which the NMT Entities have arranged for a $5,000,000 credit facility;
WHEREAS, the NMT Entities are parties to that certain Guarantee, dated as
of the date hereof, in favor of the Secured Party (as amended, supplemented,
extended or otherwise modified from time to time, the "Guarantee"), pursuant to
which the NMT Entities have guaranteed the payment and performance by NMT
NeuroSciences Implants (France) SA, a French limited liability company, and NMT
NeuroSciences Instruments (France) SARL, a French limited liability company
(collectively, the "French Subsidiaries"), of their obligations and liabilities
under that certain Credit Agreement, dated as of the date hereof, by and among
the French Subsidiaries and the Secured Party (together with the U.S. Credit
Agreement, the "Credit Agreements");
WHEREAS, the NMT Entities are parties to that certain Security Agreement,
dated as of the date hereof, by and among the NMT Entities and the Secured Party
(as amended, supplemented, extended or otherwise modified from time to time, the
"Security Agreement"), pursuant to which the NMT Entities have granted to the
Secured Party a security interest in all of their personal property, including,
without limitation, all of the Patent Rights, as security for the obligations of
the NMT Entities under the U.S. Credit Agreement and the Guarantee, as well as
certain other obligations as set forth in the Security Agreement (collectively,
the "Secured Obligations"); and
WHEREAS, it is a condition precedent to the obligations of the Secured
Party to make loans to the NMT Entities and the French Subsidiaries under the
respective Credit Agreements that the Debtor shall have executed and delivered
this Collateral Patent Assignment (this "Assignment") to the Secured Party.
NOW, THEREFORE, for good and valuable consideration, the receipt and
sufficiency of which is acknowledged, the Debtor does hereby collaterally assign
unto the Secured Party and grant to the Secured Party a security interest in and
to:
1. The Patent Rights (including, without limitation, the inventions
and improvements described and claims therein) listed on Schedule A
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attached hereto;
2. All reissues, divisions, continuations, renewals, extensions and
continuations-in-part thereof;
3. All income, royalties, damages and payments now and hereafter due
and/or payable under and with respect thereto, including, without
limitation, damages and payments for past or future infringements thereof;
4. The right to sue and recover for past, present and future
infringements thereof;
5. All rights corresponding thereto and throughout the world; and
6. All other proceeds and products of the foregoing, including,
without limitation, any rights pursuant to its agreements with any other
party relating thereto.
This Assignment is made for collateral purposes only. Upon payment in full
of the Secured Obligations and termination of the Security Agreement, all
remaining right, title and interest in and to the Patent Rights shall
automatically revert to the Debtor. The Debtor expressly acknowledges and
affirms that the rights and remedies of the Secured Party with respect to the
assignment and security interest granted hereby are more fully set forth in the
Security Agreement which is incorporated herein in its entirety by this
reference.
[Remainder of page intentionally left blank]
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IN WITNESS WHEREOF, the undersigned has executed this Collateral Patent
Assignment under seal as of the date set forth below.
Dated: September 13, 1999
NMT MEDICAL, INC.
Witness:
/s/ Xxxx X. Xxxxxx By: /s/ Xxxxxx X. Xxxxx
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Name: Xxxx X. Xxxxxx Name: Xxxxxx X. Xxxxx
Title: President
COMMONWEALTH OF MASSACHUSETTS )
)ss
COUNTY OF SUFFOLK )
On this 13th day of September, 1999, before me Xxxxxx Fall Xxxxxxxxxx the
undersigned officer, personally appeared Xxxxxx X. Xxxxx known personally to me
to be the President of NMT Medical, Inc., a Delaware corporation, and
acknowledged that he, as an officer being authorized to do so, executed the
foregoing instrument for the purposes therein contained, by signing the name of
the corporation by himself as an officer.
IN WITNESS WHEREOF I have hereunto set my hand and official seal.
/s/ Xxxxxx Fall Xxxxxxxxxx
--------------------------------
Notary Public
Print Name: Xxxxxx Fall Xxxxxxxxxx
(SEAL) My Commission Expires: December 16, 1999
3
Schedule A
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U.S. PATENTS AND APPLICATIONS
PATENT NO. TITLE ISSUE DATE
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1 5,485,667 METHOD FOR ATTACHING A MARKER TO A 1/23/96
MEDICAL INSTRUMENT
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2 5,540,712 STENT AND METHOD AND APPARATUS FOR 7/30/96
FORMING AND DELIVERING THE SAME
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3 5,354,308 METAL WIRE STENT 10/11/94
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4 5,395,390 METAL WIRE STENT 3/7/95
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5 5,776,162 VESSEL IMPLANTABLE SHAPE MEMORY 7/7/98
APPLIANCE WTIH SUPERELASTIC HINGED JOINT
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6 5,741,297 DAISY OCCLUDER AND METHOD FOR SEPTAL 4/21/98
DEFECT REPAIR
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7 5,669,933 REMOVABLE EMBOLUS BLOOD CLOT FILTER 9/23/97
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8 5,746,765 STENT AND METHOD AND APPARATUS FOR 5/5/98
FORMING AND DELIVERING THE SAME
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9 5,755,778 ANASTOMOSIS DEVICE 5/26/98
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10 5,836,968 REMOVABLE EMBOLUS BLOOD CLOT FILTER 11/17/98
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11 5,902,317 STENT AND METHOD AND APPARATUS FOR 5/11/99
FORMING AND DELIVERING THE SAME
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12 5,921,995 ANASTOMOSIS DEVICE 7/13/99
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13 5,403,309 CRYOSURGICAL ABLATION 4/4/95
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14 5,368,556 IMPLANTABLE DRAINAGE VALVE FOR THE 11/29/94
TREATMENT OF HYDROCEPHALUS
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15 4,974,581 ULTRASONIC KNIFE 12/4/90
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16 4,540,400 NON-INVASIVELY ADJUSTABLE VALVE 9/10/85
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17 4,769,002 INTERCRANIAL PRESSURE REGULATOR VALVE 9/6/88
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18 4,776,838 THREE STAGE VALVE 10/11/88
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19 4,627,832 THREE STAGE INTRACRANIAL PRESSURE RELIEF 12/9/86
VALVE HAVING SINGLE-PIECE VALVE STEM
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PATENT NO. TITLE ISSUE DATE
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20 4,714,459 THREE STAGE INTRACRANIAL PRESSURE 12/22/87
CONTROL VALVE
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21 4,729,762 THREE STAGE IMPLANTABLE PRESSURE RELIEF 3/8/88
VALVE WITH ADJUSTABLE VALVE STEM
MEMBERS
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22 5,069,663 HYDROCEPHALUS VALVE 12/3/91
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23 5,102,389 MEMBRANE COMPOSITE 4/7/92
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24 5,336,166 THREE STAGE IMPLANTABLE VALVE 8/9/94
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25 5,368,556 IMPLANTABLE DRAINAGE VALVE FOR THE 11/29/94
TREATMENT OF HYDROCEPHALUS
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26 5,437,627 IMPLANTABLE VALVE FOR THE TREATMENT OF 8/1/95
HYDROCEPHALY
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27 5,718,712 DILATATION BALLOON CATHETER FOR 2/17/98
ENDOSCOPY
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28 4,668,231 IMPLANTABLE HAND-OPERABLE DISPENSERS 5/26/87
FOR FLUID MEDICAMENTS
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29 4,718,894 MANUALLY ACTUATED, IMPLANTABLE DEVICE 1/12/88
TO SEQUENTIALLY FEED DOSES OF A
SUBSTANCE, IN PARTICULAR A THERAPEUTANT
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30 4,601,724 MANUFACTURE OF TUBING ASSEMBLY FOR 7/22/86
DRAINAGE CATHETER
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31 4,723,556 INTRACRANIAL VENTRICULAR CATHETER 2/9/88
ASSEMBLY
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32 4,731,056 EXTERNAL DRAINAGE ANTISIPHON DEVICE 3/15/88
-----------------------------------------------------------------------
33 4,767,400 POROUS VENTRICULAR CATHETER 8/30/88
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34 5,409,462 CYST PUNCTURE CATHETER ASSEMBLY 4/25/95
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35 4,946,443 CATHETER INTRODUCER 8/7/90
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36 4,487,603 IMPLANTABLE MICROINFUSION PUMP SYSTEM 12/11/84
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37 4,548,607 IMPLANTABLE MANUALLY ACTUATED 10/22/85
MEDICATION DISPENSING SYSTEM
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38 4,551,128 CEREBROSPINAL FLUID SHUNT VALVE 11/5/85
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PATENT NO. TITLE ISSUE DATE
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39 4,557,721 SERVO VALVE 12/10/85
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40 4,557,722 FILL PORT FOR AN IMPLANTABLE DISPENSING 12/10/85
SYSTEM
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41 4,576,035 SELF-CALIBRATING DIFFERENTIAL CONDITION 3/18/86
SENSOR
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42 4,578,057 VENTRICULAR RIGHT ANGLE CONNECTOR AND 3/25/86
SYSTEM
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43 4,583,967 TELESCOPING CATHETER SHUNT SYSTEM 4/22/86
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44 4,598,579 PORTABLE INSTRUMENT TO TEST 7/8/86
PRESSURE/FLOW OF VENTRICULAR SHUNT
VALVES
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45 4,631,051 VENTRICULAR AMNIOTIC SHUNT AND 12/23/86
INTRODUCER SYSTEM
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46 4,675,003 THREE STAGE PRESSURE REGULATOR VALVE 6/23/87
-----------------------------------------------------------------------
47 4,681,559 PLURAL VALVE THREE STAGE PRESSURE RELIEF 7/21/87
SYSTEM
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48 4,705,499 IMPLANTABLE SERVO VALVE HAVING INTEGRAL 11/10/87
PRESSURE SENSOR
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49 4,714,458 THREE STAGE VALVE WITH FLEXIBLE VALVE 12/22/87
SEAT
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50 4,744,786 INFUSION PUMP 5/17/88
-----------------------------------------------------------------------
51 4,776,839 THREE STAGE IMPLANTABLE PRESSURE RELIEF 10/11/88
VALVE WITH IMPROVED VALVE STEM MEMBER
-----------------------------------------------------------------------
52 4,781,672 THREE STAGE IMPLANTABLE FLOW CONTROL 11/1/88
VALVE WITH IMPROVED VALVE CLOSURE
MEMBER
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53 4,676,772 ADJUSTABLE IMPLANTABLE VALVE HAVING 6/30/87
NON-INVASIVE POSITION INDICATOR
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54 4,636,149 DIFFERENTIAL THERMAL EXPANSION DRIVEN 1/13/87
PUMP
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U.S.
APPLICATION NO. TITLE FILING DATE
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55 09/274,108 GRIPPING DEVICE FOR IMPLANTING, 3/23/99
REPOSITIONING OR EXTRACTING AN
OBJECT WITHIN A BODY VESSEL
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56 08/824,249 OSV2 3/26/96
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57 08/822,513 PRESSURE AND ANTI-GRAVITY 3/26/96
REGULATING VALVE
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58 09/360,654 REMOVABLE EMBOLUS BLOOD CLOT 7/26/99
FILTER AND FILTER DELIVERY UNIT
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59 09/160,384 REMOVABLE EMBOLUS BLOOD CLOT 9/25/98
FILTER
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