Agreement on the Pledge of Intellectual Property Rights as Collateral (Vereinbarung über die Verpfändung von geistigen Eigentumsrechten) NeoMedia Europe AG and YA Global Investments, L.P. EXECUTION COPY August 13, 2010
Exhibit
10.6
Agreement
on the Pledge of Intellectual
Property
Rights as Collateral
(Vereinbarung
über die Verpfändung von geistigen
Eigentumsrechten)
NeoMedia
Europe AG
and
YA Global
Investments, L.P.
EXECUTION
COPY
August
13, 2010
THIS
AGREEMENT ON THE PLEDGE OF INTELLECTUAL PROPERTY RIGHTS AS COLLATERAL (the
"Agreement")
is made
between
1. NeoMedia Europe XX,
Xxxx-Xxxx-Xxxx-Xxxxxx 00, 00000 Xxxxxxxx, Xxxxxxx
"Pledgor"
and
2. YA Global Investments, L.P.,
acting through Yorkville Advisors LLC, 000 Xxxxxx Xxxxxx, Xxxxx 0000, Xxxxxx
City, New Jersey 07302, USA
"Pledgee"
- Pledgor
and Pledgee hereinafter collectively referred to as the "Parties" and each as a "Party" -
Preamble
A.
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The
Pledgor, a German stock corporation (Aktiengesellschaft)
registered with the commercial register at the local court of Aachen under
registration number HRB 8599, is a 100% subsidiary of NeoMedia
Technologies, Inc., a Delaware corporation with its principal office
located at Xxx Xxxxxxxxx Xxxxxxx, Xxxxx 000, Xxxxxxx, XX 00000, XXX
(“NeoMedia Inc.”).
NeoMedia Inc. is the sole shareholder of 222,000 registered no-par value
shares with restricted transferability (vinkulierte, auf den Namen
lautende Stückaktien) (the "Shares") in the
Pledgor.
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B.
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The
Pledgee and NeoMedia Inc. are Parties to a variety of financing agreements
pursuant to which the Pledgee has provided to NeoMedia Inc. since 2006
both equity and debt financing of which the current outstanding principal
and/or liquidation value is $38,368,538.04 (in words: US-Dollars thirty
eight million, three hundred sixty eight thousand, five hundred
thirty-eight dollars and four cents) (the “Existing Financing”).
All existing financing and security agreements previously entered into
between the Pledgee and NeoMedia Inc. are listed in Annex 1 to this
agreement (the “Existing
Financing Documents”).
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C.
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In
order to secure the liquidity of NeoMedia Inc. and its group companies
(including the Pledgor), Pledgee has provided to NeoMedia Inc. a senior
secured convertible debenture with a principal amount of $ 2,006,137.04
(in words: US-Dollars two million, six thousand, one hundred thirty seven
dollars and four cents), included in the total debt and equity financing
described above, with an interest rate of 14% p.a. and with a maturity
date being July 29, 2012 (the “New Financing”). The New
Financing is based on the following transaction documents: (i) a
Ratification Agreement, (ii) Irrevocable Transfer Agent Instructions,
(iii) a Secured Convertible Debenture, (iv) a Securities Purchase
Agreement and (v) a Warrant (collectively the “New Financing Transaction
Documents”). The New Financing Transaction Documents were executed
on May 27, 2010. The Pledgor will have access to the funds provided to its
parent entity NeoMedia Inc. under the New Financing for its general
working capital purposes.
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D.
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Pursuant
to Section 7 of the Ratification Agreement NeoMedia Inc. has undertaken to
cooperate fully with the Pledgee to cause the Pledgor (subject to and to
the extent permissible under German law) to execute and deliver to the
Pledgee any and all documents, instruments, or agreements in a form and
substance acceptable to the Pledgee in all respects (including, without
limitation, a Share Pledge Agreement, Security Assignment Agreement, and
IP Pledge Agreement) pursuant to which the Pledgor shall become a
guarantor of the Obligations (as defined in Section 1 of the Ratification
Agreement) and grant a first priority perfected security interest in favor
of the Pledgee in all of the Pledgor's assets, including without
limitation, all intellectual
property.
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E.
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In
order to give effect to the foregoing, and without prejudice to any other
security interests already provided under the Existing Financing Documents
or to be provided as condition precedent to the closing of the New
Financing, Pledgor herewith grants Pledgee a security interest in form of
a pledge of its Intellectual Property rights (Verpfändung von geistigen
Eigentumsrechten) over its movable
assets.
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Now,
therefore, the Parties enter in the following agreement (the "Agreement") as
follows:
1.
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Definitions
and Language
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1.1
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Terms
used but not otherwise defined herein shall have the meanings ascribed
thereto in the New Financing Transaction
Documents.
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1.2
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However,
the following terms, as used herein, shall have the following
meanings:
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"Event of Enforcement" means
that the requirements with regard to the enforcement of any of the Pledges are
met, in particular the requirements set forth in Section 1204 et seq. and Section 1273
et seq. of the German
Civil Code (Bürgerliches
Gesetzbuch, BGB) (Pfandreife) and any or all of
the Secured Obligations are not paid when due (fällig).
“Intellectual Property” means
any and all presently or future (partially or fully) owned intellectual property
rights such as patents, trademarks, utility models (granted/registered and
corresponding applications) including reissues or extensions thereof as well as
any and all licenses, which the Pledgor has granted or will be granting with
respect to the intellectual property rights.
"Lien" means any mortgage, deed
of trust, pledge, hypothecation, assignment, charge, deposit arrangement,
encumbrance, lien (statutory or other), security interest or preference,
priority or other security agreement or preferential arrangement of any kind or
nature whatsoever intended to assure payment of any indebtedness or the
performance of any other obligation, including any conditional sale or other
title retention agreement.
“Pledge” or “Pledges” has the meaning given
to such term in Clause 2 hereof.
“Proceeds” has the meaning
given to such term in Clause 2 hereof.
"Secured Obligations" means any
and all obligations (present and future, actual and contingent) which are (or
are expressed to be) or become owing by NeoMedia Inc. and its affiliates and
subsidiaries (including the Pledgor) to the Pledgee under the Existing Financing
and the New Financing, in particular, the Secured Convertible Debenture, and
under any additional future financing provided by the Pledgee to NeoMedia Inc.,
as the case might be. The Secured Obligations shall, for the avoidance of doubt,
also include obligations incurred by the Pledgor on or after the opening of
insolvency proceedings, shall apply to the Pledgor irrespective of any corporate
restructuring or transformation and shall also apply to any contingent
obligations on the grounds of invalidity or unenforceability of the Existing
Financing Documents and / or the New Financing Transaction Documents, in
particular claims on the grounds of unjustified enrichment (ungerechtfertigte
Bereicherung).
"Secured Party" means the
Pledgee.
2.
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Pledging
of Intellectual Property Rights as
Collateral
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The
Pledgor, as collateral security for the full and complete payment when due
(whether at stated maturity, by acceleration or otherwise) of the Secured
Obligations, hereby grants a first ranking pledge (erstrangiges Pfandrecht) to
the Pledgee as collateral all of its right, title and interest in, to and under
the following Intellectual Property of Pledgor which the Pledgee hereby accepts.
In detail:
2.1
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all
of its presently or future owned Trademarks and Trademark applications as
well as exclusive Licenses relating to Trademarks to which it is a party,
including but not limited to those referred to in Annex 2
hereto;
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(a)
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all
renewals, reissues, continuations or extensions of the
foregoing;
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(b)
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all
proceeds of the foregoing, including any claim by the Pledgor against
third parties for past, present, future (i) infringement or dilution of
any trademark or trademark licensed under any trademark license or (ii)
injury to the goodwill associated with any trademark or any trademark
licensed under any trademark
license;
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2.2
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all
of its presently or future owned patents, patent applications and
exclusive patent licenses to which it is a party, including but not
limited to those referred to in Annex 2
hereto;
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(a)
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all
renewals, reissues, continuations or extensions of the
foregoing;
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(b)
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all
proceeds of the foregoing, including any claim by the Pledgor against
third parties for past, present, future infringement of any patent or
patent licensed under any patent
license.
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2.3
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all
of its presently or future owned Intellectual Property rights except those
mentioned in Sections 2.1 and 2.2 above and licenses to which it is a
party, including but not limited to those referred to in Annex 2
hereto;
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(a)
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all
renewals, reissues, continuations or extensions of the
foregoing;
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(b)
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all
proceeds of the foregoing, including any claim by the Pledgor against
third parties for past, present, future infringement of any patent or
patent licensed under any patent
license.
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2.4
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The
proceeds in Sections 2.1, 2.2 and 2.3 are collectively referred to as the
“Proceeds”.
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2.5
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The
pledging as collateral covers all future Intellectual Property rights of
the Pledgor and Proceeds thereof, if legally possible. The Parties agree
that, if legally possible, no separate agreements on pledging of
Intellectual Property rights as collateral shall be concluded, but that
this Agreement covers the pledging of future Intellectual Property rights
as collateral. Future Intellectual Property rights shall be deemed to be
pledged to the Pledgee as collateral at the time of their coming into
existence. If pledging of future Intellectual Property rights is not
legally possible, Pledgor hereby undertakes to grant a pledge at the time
the respective Intellectual Property right comes into
existence.
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2.6
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The
Pledgee hereby accepts the Pledges and Pledgor’s undertaking to grant
pledges in the future.
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2.7
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The
validity and effect of each Pledge shall be independent from the validity
and the effect of any other Pledge created
hereunder.
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2.8
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Each
of the Pledges is in addition, and without prejudice, to any other
security the Pledgee may now or hereafter hold as security for the Secured
Obligations.
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2.9
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For
the avoidance of doubt, the Parties agree that nothing in this Agreement
shall exclude a transfer of all or part of the Pledges created hereunder
by operation of law upon the transfer or assignment (including by way of
assumption (Vertragsübernahme)) of
all or part of the Secured Obligations by the Pledgee to any third
party.
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2.10
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Waiving
Section 418 BGB, the Parties hereto agree that the security created
hereunder shall not cease to exist by any transfer or assumption of the
Secured Obligations to, or by, any third party
debtor.
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3.
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Purpose
of Pledge
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3.1
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The
Pledges affirmed herein are granted to the Pledgee to secure the Secured
Obligations.
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3.2
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Notwithstanding
that claims, titles, rights and remedies associated with the Intellectual
Property are pledged hereunder, the Pledgor is entitled to exercise all
rights and powers in respect of each of the Intellectual Property subject
to Pledgor’s responsibilities according to Section 6 unless an event
of default as set out in any of the Existing Financing Documents or the
New Financing Transaction Documents (in particular as set forth in clause
2 of the Secured Convertible Debenture) ("Event of Default") has
occurred.
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4.
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Rights
of Use regarding the Intellectual Property
rights
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4.1
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The
Pledgor is entitled to use the Intellectual Property rights without
restrictions in its business without the prior consent of the Pledgee and
without the obligation to pay remuneration of any kind to the Pledgee.
This entitlement includes future applications and registrations of
Intellectual Property rights on terms usual in the market. The right of
use includes the right to grant non-exclusive licenses. It does not
include the right to grant exclusive licenses as well as measures to which
the Pledgor is not entitled pursuant to Section 6.1 of this
Agreement.
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4.2
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The
Pledgor is entitled to receive and retain Proceeds on the licensing of the
Intellectual Property rights until such time as the Pledgee is entitled to
enforce the Pledges (or any part thereof) constituted hereunder. Upon the
occurrence of an Event of Enforcement, the Pledgor's rights to receive
Proceeds shall cease and the Pledgee shall have the sole and exclusive
right to receive the Proceeds and to apply such Proceeds in accordance
with Section 8 (Enforcement of the Pledges)
below.
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4.3
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If
such Proceeds are received by the Pledgor after the occurrence of an Event
of Enforcement, the Proceeds shall be received by the Pledgor as trustee
for the benefit of the Pledgee and shall be segregated from other property
or funds of the Pledgor and shall be forthwith delivered to the Pledgee
for the benefit of the Pledgee in the form so received (with any necessary
endorsement).
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4.4
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The
Pledgor will be listed as owner of the Intellectual Property rights in the
relevant public registers, especially the patent and trademark registers,
until the Pledgee establishes an Event of Enforcement. The foregoing
applies to future applications and registrations of Intellectual Property
rights as well.
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4.5
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The
Pledgor is entitled and obliged to defend Intellectual Property rights on
its own behalf and at its own expense against interferences by third
parties (especially in case of opposition, nullity and cancellation
proceedings) and infringements unless the Pledgor reasonably determines
the hopelessness (Aussichtslosigkeit) or
the economical unreasonableness of the case. The Pledgor is entitled to
assert the Intellectual Property rights on its own behalf in court or
otherwise. Regarding the Pledgee’s right to information and participation,
Section 6.2 applies.
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4.6
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The
Pledgee is entitled to revoke the Pledgor's right of use pursuant to the
previous clauses with a notice period of ten (10) days if (i) an Event of
Default occurs and the requirements for the enforcement of the Pledges are
met (Pfandreife)
or, without prior notice, (ii) if insolvency proceedings regarding the
assets of the Pledgor have been
initiated.
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5.
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Representations
and Warranties by Pledgor
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5.1
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The
Pledgor represents and warrants to the Pledgee (within the meaning of an
independent guarantee (“selbständiges Garantieversprechen”) pursuant to
Section 311 BGB) at the time this Agreement is signed
that
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(a)
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the
Pledgor is duly incorporated, validly existing and entitled to sign this
Agreement, that it has obtained all necessary approvals before signing
this Agreement and that it is able to fulfil all obligations arising from
this Agreement without
restrictions;
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(b)
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the
information contained in Annex 2 is
complete, precise and correct according to the Pledgor' s best knowledge
and after careful consideration. The Intellectual Property rights listed
in Annex
2 are all the Intellectual Property rights the Pledgor owns and
there are no further Intellectual Property rights or pending applications
for Intellectual Property rights of Pledgor
existing;
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(c)
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the
Pledgor is the applicant or true owner, respectively, of the Intellectual
Property rights listed in Annex
2;
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(d)
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the
Pledgor has applied for the registration of Intellectual Property rights
and the acts which are necessary for maintaining the Intellectual Property
rights (especially the payment of fees) have been carried out in due
time;
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(e)
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according
to the Pledgor's best knowledge the Intellectual Property rights existing
at the time of signing this Agreement are not disputed by any third party
regarding their validity and definitiveness apart from those disputes as
registered with the Office for Harmonization in the Internal Market (Trade
Marks and Designs) (OHIM) or the
German Patent and Trade Xxxx Office (DPMA);
and
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(e)
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the
Intellectual Property rights have not been pledged, assigned or the like
to third parties; no third party has any rights to use the Intellectual
Property rights except such Intellectual Property rights, which have been
granted to third parties in accordance with Section 4.1 above.
and
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(g)
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the
Intellectual Property rights existing at the time of signing this
Agreement have not been infringed by third parties according to the actual
knowledge of the Pledgor.
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5.2
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The
execution and performance hereof, do not and will not (i) violate any
provision of law or the articles of association of the Pledgor, or any
order of any court or any rule, regulation or order of any governmental
agency, authority, instrumentality or regulatory body to which the Pledgor
is bound, (ii) violate any provision of any agreement or other instrument
to which the Pledgor is bound, (iii) be in conflict with, result in a
breach of or constitute (with notice or lapse of time or both) a default
under any such agreement or other instrument, or (iv) result in the
creation or imposition of any Lien upon any property or assets of the
Pledgor, except for Liens created
hereby.
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5.3
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No
consents, licenses, approvals or authorizations of, registrations with or
declarations to any governmental authority are required in connection with
the execution and performance
hereof.
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5.4
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The
obligations of the Pledgor hereunder are legal, valid, binding and
enforceable in accordance with their
terms.
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5.5
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The
Pledges constitute legal, valid and binding pledges under the laws of the
Federal Republic of Germany in the Intellectual Property rights and the
Proceeds, enforceable against the Pledgor and third parties in accordance
with the terms hereof and in particular without enforceable judgment (vollstreckbarer
Titel).
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5.6
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The
Pledges constitute first ranking pledges (erstrangige
Pfandrechte).
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The
foregoing representations and warranties in sections 5.4 and 5.5 are provided
subject to the effect of applicable insolvency, moratorium, or similar laws
affecting the rights of parties and creditors generally.
6.
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Responsibilities
of Pledgor
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6.1
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The
Pledgor covenants to undertake all reasonable acts and omissions, if
economically reasonable, which cause the Intellectual Property
rights:
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(a)
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to
come into full force,
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(b)
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to
stay in full force (among other things to timely pay the fees necessary
for upholding the Intellectual Property rights, not to waiver (neither in
full or in part) any Intellectual Property rights or perform other acts
which result in the full or partial termination or the Intellectual
Property rights),
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(c)
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to
be protected at their full economic
value,
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(d)
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to
serve as unrestrained collateral for the Pledgee, in particular the
Pledgor undertakes not to create or agree or permit to exist (in favor of
any person other than the Pledgee), any Lien over the whole or any part of
the Intellectual Property rights or agree to do so (other than the Pledges
created hereunder), except as permitted by the Pledgee by prior written
consent.
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6.2
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The
Pledgor covenants to notify the Pledgee without undue delay (unverzüglich) in
writing of any event or circumstance which might reasonably be expected to
have a material adverse effect on the validity or enforceability of any of
the Pledges. In particular, the Pledgor shall without undue delay notify
the Pledgee in writing of any attachment (Pfändung) in respect of
any of the Intellectual Property, such notification to be accompanied by
any documents the Pledgee needs to defend itself against the attachment
and/or any claim of a third party, including, without limitation, a copy
of the attachment order (Pfändungsbeschluß), and
all other documents which are reasonably requested by the Pledgee. In
addition, the Pledgor shall inform the attaching creditor of the existence
of this Agreement.
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6.3
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The
Pledgor shall inform the Pledgee without undue delay in writing in case
Intellectual Property rights are infringed or otherwise attacked or
disputed by third parties. The Pledgee is entitled but not obliged to
support the Pledgor in the defense of the Intellectual Property rights.
The Pledgor will inform the Pledgee about the status of respective
proceedings upon request. The Pledgor can only make declarations which
terminate proceedings (especially abandonment of action, settlements in
and out of court, full or partial waiver of Intellectual Property rights)
after prior written consent by the
Pledgee.
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6.4
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The
Pledgor shall, within 30 days after an occurrence, which leads to an
incorrectness of Annex 2 and
further without delay upon justified inquiry by Pledgee (especially but
not exclusively in case of an Event of Default) - provide the following
documents to the Pledgee:
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(a)
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Updated
lists regarding form and scope of the Intellectual Property rights as done
in Annex
2; and
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(b)
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updated
lists regarding form and scope of Intellectual Property licenses
granted.
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7.
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Further
Undertakings
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7.1
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The
Pledgor undertakes to the Pledgee:
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(a)
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to
take all necessary measures to have all Intellectual Property registered
in its own name;
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(b)
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to
execute further documents and take such actions as are necessary in order
to fully effect the purposes of this Agreement at the Pledgee's reasonable
request.
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7.2
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The
Pledgor is not in a state of insolvency (Zahlungsunfähigkeit) or
over-indebtedness (Überschuldung) pursuant
to the German Insolvency Code (Insolvenzordnung) or
the German Stock Corporations Act (Aktiengesetz - AktG).
The Pledgor is not subject to any composition or insolvency
proceedings.
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7.3
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The
Pledgor shall at its own expense do all such things as the Pledgee may
reasonably require to perfect or protect the security intended to be
created hereby or any part thereof, or to facilitate the realization of
the Intellectual Property rights or any part thereof; or to facilitate the
exercise by the Pledgee of any of the rights, powers, authorities and
discretions vested in it.
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7.4
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In
the event that a security interest has not been properly created over the
Intellectual Property rights, the Pledgor shall at its own expense do all
such things as the Pledgee may reasonably require to cure any defects. If
such defects render this Agreement invalid or otherwise affect the
perfection or enforceability of the security interest created or purported
to be created hereby, the Parties hereto shall execute a new pledge
agreement at terms equivalent to this
Agreement.
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8.
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Enforcement
of the Pledges
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8.1
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Upon
the occurrence of an Event of Enforcement, then in order to enforce the
Pledges (or any of them), the Pledgee may at any time thereafter avail
itself of all rights and remedies that a pledgee has under the laws of the
Federal Republic of Germany.
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8.2
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The
Pledgee is entitled to exercise its rights, in particular to sell the
Intellectual Property or any part thereof without obtaining enforceable
judgment or other instrument that entitles to enforcement proceedings
(vollstreckbarer
Titel) by way of public auction (öffentliche
Versteigerung).
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8.3
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The
Pledgee will make reasonable efforts and will do all reasonable acts, such
as but not limited to appropriate public announcements, to secure the
highest possible selling price for the pledged Intellectual Property
Rights.
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8.4
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In
case of realizing the Pledges (or any of them), the Pledgee is entitled to
revoke the Pledgor’s authorization to receive proceeds pursuant to Section
4.2. The Pledgee will treat proceeds received in this respect as
additional security and use them for the reduction of the secured
claims.
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8.5
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The
Pledgor hereby expressly agrees that twenty (20) days' prior written
notice to the Pledgor of the place and time of any such public auction
shall be sufficient. Prior notice shall not be required if (i) the
Pledgor has generally ceased to effect payments (Zahlungseinstellung) or
(ii) the Pledgor has filed for the commencement of insolvency
proceedings or similar proceedings or (iii) insolvency proceedings or
similar proceedings have been opened against the Pledgor. The Pledgee is
not obliged to submit to the Pledgor any additional notice of the
anticipated sale of the Intellectual Property or any part thereof prior to
such sale (including, without limitation, the notices set out under
Section 1234 BGB. The public auction may take place at any place in
the Federal Republic of Germany designated by the
Pledgee.
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8.6
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If
the Pledgee should seek to enforce the Pledges pursuant to, and in
accordance with this Section 8 (Enforcement of the Pledges), the
Pledgor shall, at its own expense, render forthwith all necessary
assistance in order to facilitate the prompt sale of the Intellectual
Property or any part thereof and/or the exercise by the Pledgee of any
other right it may have as Pledgee. In particular, the Pledgor will
provide the Pledgee with all available documents (especially the original
certificates of grant or application certificates, respectively) regarding
the Intellectual Property rights
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8.7
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The
Pledgor shall not be entitled to any amounts received by realization of
any of the Pledges prior to the termination of all Pledges. If the Pledges
are enforced, in deviation of Sections 1225, 774 BGB, no rights of
the Pledgee shall pass to the Pledgor by subrogation or otherwise unless
and until all of the Secured Obligations have been satisfied and
discharged in full and all of the Pledges have been terminated. Until
then, the Pledgee shall be entitled to withhold any amounts received from
the realization of the Pledges and to treat all enforcement proceeds as
additional collateral for the Secured Obligations, or to seek satisfaction
from such proceeds at any time.
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8.8
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The
Pledgee may, in its sole discretion, determine which of several security
interests, if applicable, shall be used to satisfy the Secured
Obligations. In particular, the Pledgee shall not be obligated to exploit
any other collateral granted to it prior to realization of the
Pledges.
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8.9
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The
Pledgor hereby expressly waives all defences of revocation (rights to
claim the voidability of the underlying debt) (Einrede der
Anfechtbarkeit) and set-off (rights to claim the possibility to set
off counterclaims against the underlying debt) (Einrede der
Aufrechenbarkeit) pursuant to Sections 770, 1211 BGB. This
waiver shall not apply to a set-off with counterclaims which are (i)
uncontested (unbestritten) or (ii)
based on an unappealable court decision (rechtskräftig
festgestellt).
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8.10
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In
case the Pledges are realized the Pledgor does everything necessary
without undue delay to have the Pledgee or the acquirer – as the case may
be – registered as the owner of the Intellectual Property rights in the
relevant public registers, especially in the registers of the patent and
trademark offices.
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8.11
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After
the complete unconditional, irrevocable and full payment and discharge of
all Secured Obligations any proceeds remaining from the enforcement of the
Pledges shall be transferred to the Pledgor at the cost and expense of the
Pledgor. The Pledgee shall at all times until the full and complete
satisfaction of all Secured Obligations take into consideration the
legitimate interest of the Pledgor in exercising its rights and carrying
out its duties under this
Agreement.
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8.12
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Upon
the full, complete and irrevocable satisfaction of the Secured
Obligations, the Pledgee will without undue delay upon the request of the
Pledgor confirm the release of the Pledges (Pfandfreigabe) to the
Pledgor as a matter of record. For the avoidance of doubt, the Parties are
aware that upon full, complete and irrevocable satisfaction of the Secured
Obligations the Pledges, due to their accessory nature (Akzessorietät), cease
to exist by operation of German mandatory
law.
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8.13
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In
addition, upon an Event of Default, Pledgee has all rights set forth in
the New Financing Transaction Documents and the Existing Financing
Documents, in particular those provided for in Article 5, Section 5 of the
2008 Security Agreement (as listed and defined in Annex 1). These rights
are incorporated herein in their entirety by way of
reference.
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8.14
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Notwithstanding
the foregoing, any enforcement of the security created under this
Agreement is restricted if and to the extent a claim for recourse (Rückgriffs- anspruch)
against the Pledgor's direct or indirect shareholder whose obligations
towards the Pledgee are secured hereby and that would only come into
existence as a result of such enforcement is, in the reasonable opinion of
the Pledgor, not fully valuable (xxxx werthaltig). In
the event the Pledgor refers to this Section 8.14 in case of any future
enforcement of the security created under this Agreement, it shall be
obligated - at the Pledgee's written request - to render to the Pledgee a
substantiated written statement supported by a suitable reasoning and
other suitable evidence demonstrating that and why he considers the
conditions for the enforcement restriction to be
fulfilled.
|
The
enforcement restriction does not apply if and to the extent that the Transferor
has received through its direct or indirect shareholder funds from the Existing
Financing, the New Financing or any additional future financing, as the case may
be and such funds have not been repaid or paid to any of its direct or indirect
shareholders.
9.
|
Waiver
of Defences; Exercise of Powers
|
No
failure or delay on the part of the Pledgee in the exercise of any power, right,
privilege or remedy hereunder shall be construed to be a waiver thereof, nor
shall any single or partial exercise of any such right or remedy preclude any
further or other exercise thereof or the exercise of any other right or remedy.
The rights or remedies provided hereunder are cumulative to and not exclusive of
any rights or remedies otherwise available.
10.
|
Indemnity
|
10.1
|
The
Pledgee shall not be liable for damages suffered by the Pledgor in
connection herewith other than in respect of such loss or damage which is
suffered as a result of willful misconduct (Vorsatz) or gross
negligence (xxxxx
Fahrlässigkeit) of the
Pledgee.
|
10.2
|
The
Pledgor shall indemnify the Pledgee and keep the Pledgee indemnified
against any and all damages, losses, actions, claims, expenses, demands
and liabilities incurred by or made against the Pledgee for anything done
or omitted by the Pledgee in the exercise or purported exercise of the
powers contained herein and occasioned by any breach of the Pledgor of any
of its obligations or undertakings herein contained other than to the
extent that such damages, losses, actions, claims, expenses, demands and
liabilities are incurred or made against the Pledgee as a result of the
wilful misconduct or gross negligence of the
Pledgee.
|
11.
|
Duration
and Independence
|
11.1
|
This
Agreement shall remain in full force and effect until the Secured
Obligations have been fully indefeasibily paid in full and discharged. The
Pledges and corresponding rights shall not cease to exist in full if any
payments made in satisfaction of the obligations have only temporarily
and/or partly discharged the obligations. If all Secured Obligations have
been fully indefeasibily paid in full and discharged during the duration
of the Securities Purchase Agreement and, as a matter of German law (Akzessorietät), the
Pledges have ceased to have effect as a consequence, the Pledges shall
again be created ipso
jure without any further action on the terms and conditions of this
Agreement, if due to another draw-down or request for extension of credit
or comparable mechanism by the Pledgor under any financing document
concluded with the Pledgee, as applicable or otherwise, again secured
obligations are created.
|
11.2
|
This
Agreement shall create a continuing security interest in the Intellectual
Property and no change or amendment whatsoever in the Existing Financing
Documents or the New Financing Transaction Documents or in any document or
agreement related thereto shall affect the validity or the scope of
neither this Agreement nor the obligations which are imposed on the
Pledgor pursuant to it.
|
11.3
|
The
Pledges according to this Agreement are in addition to and independent of
any other security interest or guarantee provided by the Pledgor or third
parties to the Pledgee in respect of the Secured Obligations under the
Existing Financing Documents and/or the New Financing Transaction
Documents. None of such other security interests shall prejudice, or shall
be prejudiced by, or shall be merged in any way with, this
Agreement.
|
12.
|
Costs
and Expenses
|
12.1
|
All
costs, charges, fees (including, without limitations, legal fees and
notarial fees) and expenses incurred in connection with the preparation
and execution, performance and amendment of this Agreement shall be borne
by the Pledgor, in each case with any applicable value added tax or other
taxes.
|
12.2
|
The
Pledgor shall in particular without undue delay pay to the Pledgee upon
demand costs and expenses that Pledgee may incur in connection with (i)
the preparation, execution, performance and amendment of this Agreement,
(ii) the administration of this Agreement, (iii) the realization upon, any
part of the Intellectual Property, (iv) the exercise or enforcement of any
of the rights of the Pledgee hereunder (including fees for legal advice),
or (v) the failure by the Pledgor to perform or observe any of the
provisions hereof, and such expenses shall be secured
obligations.
|
12.3
|
Any
payment under this Agreement is to be made free and clear of any taxes or
duties or other charges provided that if the Pledgor is prevented by law
from making such payments free and clear of deductions or withholdings,
the payment due shall be increased
accordingly.
|
13.
|
Partial
Invalidity
|
Without
prejudice to any other provision hereof, if at any time any one (or more)
provision(s) hereof is or becomes invalid, illegal or unenforceable in any
respect in any jurisdiction or with respect to any party, or if the Parties
become aware of any omission (Vertragslücke) hereto of any
terms which were intended to be included in this Agreement, such invalidity,
illegality, unenforceability in such jurisdiction or with respect to such Party
or Parties or such omission (Vertragslücke) shall not, to
the fullest extent permitted by applicable law, render invalid, illegal or
unenforceable such provision or provisions in any other jurisdiction or with
respect to any other party or parties hereto and shall not affect or impair the
validity, legality and enforceability of the remaining provisions hereof. Such
invalid, illegal or unenforceable provision or such omission (Vertragslücke) shall be
replaced by the Parties with a provision which comes as close as reasonably
possible to the commercial intentions of the invalid, unenforceable or omitted
provision.
14.
|
Amendments
|
Changes
and Amendments to this Agreement shall be made in writing and signed by both
parties to this Agreement, unless notarial form by operation of applicable law
is required. This also applies to this Section 14.
15.
|
Notices
and their Language
|
15.1
|
Any
notice or other communication under or in connection with this Agreement
shall be in writing and shall be delivered personally, or sent by mail or
fax transmission (to be affirmed in writing) to the following
addresses:
|
Yorkville
Advisors LLC
000
Xxxxxx Xxxxxx, Xxxxx 0000
Xxxxxx
Xxxx, Xxx Xxxxxx 00000
XXX
Attention:
Xxxx Xxxxxx
Phone
no. : x0 000 000 0000
Fax
no.: x0 000 000 0000
with a copy
to:
YA
Global Investments, LP
000
Xxxxxx Xxxxxx, Xxxxx 0000
Xxxxxx
Xxxx, XX 00000
XXX
Attention:
Xxxxx Xxxxxxxx
Phone
no.: x0 000 000 0000
Fax
no.: x0 000 000 0000
or
respectively to:
NeoMedia
Europe XX
Xxxx-Xxxx-Xxxx-Xxxxxx
00
00000
Xxxxxxxx
Xxxxxxx
Attention :
Chief Executive Officer
Phone
no.: x00 0000 00000-0
Fax no.:
x00 0000 00000-00
with a copy
to:
NeoMedia Technologies,
Inc.
Xxx
Xxxxxxxxx Xxxxxxx, Xxxxx 000
Xxxxxxx,
XX 00000
XXX
Attention :
Chief Executive Officer or Chief Financial Officer
Phone
no.: x0 000 000 0000 (x132)
|
Fax
no.: x0 000 000
0000
|
K&L
Gates LLP
000 Xxxxx
Xxxxxxxx Xxxxxxxxx – Xxxxx 0000
Xxxxx, XX
00000-0000
XXX
Attention:
Xxxxxxx X. Xxxxxx, Esq.
Phone
no.: x0 000 000 0000
Fax
no: x0 000 000 0000
or to
such other address as the recipient may notify or may have notified to the other
party in writing.
15.2
|
Save
for the notice pursuant to Section 1280 BGB any notice or other
communication under or in connection with this Agreement shall be in the
English language unless required differently by law or provided herein
and, if in any other language, accompanied by a translation into English.
In the event of any conflict between the English text and the text in any
other language, the English text shall
prevail.
|
16.
|
Non-German
Law
|
This
Agreement refers in several instances to provisions of German law. In case not
German law but the laws and regulations of non-German jurisdictions apply, those
provisions of the non-German law should apply which are similar to those of
German law. This Section 16 does not have an impact on the Governing Law clause
according to Section 17.1.
17.
|
Governing
Law and Jurisdiction
|
17.1
|
This
Agreement shall be governed by and construed in accordance with the laws
of the Federal Republic of Germany, without regard to its conflict of laws
provisions.
|
17.2
|
The
place of jurisdiction for any and all claims or disputes arising under or
in connection with this Agreement shall be the district court (Landgericht)
Düsseldorf, Federal Republic of Germany. The Pledgee shall, however, also
be entitled to take legal action against the Pledgor before any other
competent court of law having jurisdiction over the Pledgor or any of its
assets.
|
17.3
|
This
Agreement is made in the English language. For the avoidance of doubt, the
English language version of this Agreement shall prevail over any
translation of this Agreement. However, where a German translation of a
word or phrase appears in the text of this Agreement, the German
translation of such word or phrase shall
prevail.
|
Executed
effective as of this 13th day of August 2010.
NeoMedia
Europe AG
|
/s/ X.
Xxxxxxxxx
|
Name:
Xx.
X. Xxxxxxxxx
|
Title:
CEO
|
YA
Global Investments, L.P.
|
/s/ Xxxxx
Xxxxxxxx
|
Name:
Xxxxx
Xxxxxxxx
|
Title:
Managing Member of Yorkville Advisors, LLC
the
Investment Manager to YA
Global
|
ANNEXES
to
AGREEMENT
ON THE PLEDGE OF INTELLECTUAL PROPERTY RIGHTS AS COLLATERAL
Annex
1
List
of Existing Financing Documents
DEBENTURES AND
NOTES
Secured
Convertible Debenture dated August 23, 2006 issued by the Borrower to the Lender
in the original principal amount of $5,000,000.00 (hereinafter, as amended and
in effect, the “CCP-1 Debenture”), as amended by that certain Amendment to
NeoMedia the Borrower, Inc. Secured Convertible Debenture No. CCP-1 dated as of
January 5, 2010 entered into by and between the Borrower and the
Lender;
Secured
Convertible Debenture dated December 29, 2006 issued by the Borrower to the
Lender in the original principal amount of $2,500,000.00 (hereinafter, as
amended and in effect, the “CCP-2 Debenture”), as amended by that certain
Amendment to NeoMedia the Borrower, Inc. Secured Convertible Debenture No. CCP-2
dated as of January 5, 2010 by and between the Borrower and the
Lender;
Secured
Convertible Debenture dated March 27, 2007 issued by the Borrower to the Lender
in the original principal amount of $7,458,651.00 (hereinafter, as amended and
in effect, the “NEOM-4-1 Debenture”), as amended by that certain Amendment to
NeoMedia the Borrower, Inc. Secured Convertible Debenture No. NEOM-4-1 dated as
of January 5, 2010 entered into by and between the Borrower and the
Lender;
Secured
Convertible Debenture dated August 24, 2007 issued by the Borrower to the Lender
in the original principal amount of $1,775,000.00 (hereinafter, as amended and
in effect, the “NEOM-1-1 Debenture”), as amended by that certain letter
agreement dated as of August 14, 2009, and as further amended by that certain
Amendment to NeoMedia Technologies, Inc. Secured Convertible Debenture No.
NEOM-1-1 dated as of January 5, 2010 entered into by and between the Borrower
and the Lender;
Secured
Convertible Debenture dated April 11, 2008 issued by the Borrower to the Lender
in the original principal amount of $390,000.00 (hereinafter, as amended and in
effect, the “XXXX-0000-0 Xxxxxxxxx”), as amended by that certain Amendment to
NeoMedia Technologies, Inc. Secured Convertible Debenture No. NEOM-2008-1 dated
as of January 5, 2010 entered into by and between the Borrower and the
Lender;
Secured
Convertible Debenture dated May 16, 2008 issued by the Borrower to the Lender in
the original principal amount of $500,000.00 (hereinafter, as amended and in
effect, the “XXXX-0000-0 Xxxxxxxxx”), as amended by that certain Amendment to
NeoMedia Technologies, Inc. Secured Convertible Debenture No. NEOM-2008-2 dated
as of January 5, 2010 entered into by and between the Borrower and the
Lender;
Secured
Convertible Debenture dated May 29, 2008 issued by the Borrower to the Lender in
the original principal amount of $790,000.00 (hereinafter, as amended and in
effect, the “XXXX-0000-0 Xxxxxxxxx”), as amended by that certain Amendment to
NeoMedia Technologies, Inc. Secured Convertible Debenture No. NEOM-2008-3 dated
as of January 5, 2010 entered into by and between the Borrower and the
Lender;
Secured
Convertible Debenture dated July 10, 2008 issued by the Borrower to the Lender
in the original principal amount of $137,750.00 (hereinafter, as amended and in
effect, the “XXXX-0000-0 Xxxxxxxxx”), as amended by that certain Amendment to
NeoMedia Technologies, Inc. Secured Convertible Debenture No. NEOM-2008-4 dated
as of January 5, 2010 entered into by and between the Borrower and the
Lender;
Secured
Convertible Debenture dated July 29, 2008 issued by the Borrower to the Lender
in the original principal amount of $2,325,000.00 (hereinafter, as amended and
in effect, the “NEOM-9-1 Debenture”), as amended by that certain Amendment to
NeoMedia Technologies, Inc. Secured Convertible Debenture No. NEOM-9-1 dated as
of January 5, 2010 entered into by and between the Borrower and the
Lender;
Secured
Convertible Debenture dated October 28, 2008 issued by the Borrower to the
Lender in the original principal amount of $2,325,000.00 (hereinafter, as
amended and in effect, the “NEOM-9-2 Debenture”), as amended by that certain
Amendment to NeoMedia Technologies, Inc. Secured Convertible Debenture No.
NEOM-9-2 dated as of January 5, 2010 entered into by and between the Borrower
and the Lender;
Secured
Convertible Debenture dated May 1, 2009 issued by the Borrower to the Lender in
the original principal amount of $550,000.00 (hereinafter, as amended and in
effect, the “NEOM-9-4 Debenture”), as amended by that certain Amendment to
NeoMedia Technologies, Inc. Secured Convertible Debenture No. NEOM-9-4 dated as
of January 5, 2010 entered into by and between the Borrower and the
Lender;
Secured
Convertible Debenture dated June 5, 2009 issued by the Borrower to the Lender in
the original principal amount of $715,000.00 (hereinafter, as amended and in
effect, the “NEOM-9-5 Debenture”), as amended by that certain Amendment to
NeoMedia Technologies, Inc. Secured Convertible Debenture No. NEOM-9-5 dated as
of January 5, 2010 entered into by and between the Borrower and the
Lender;
Secured
Convertible Debenture dated July 15, 2009 issued by the Borrower to the Lender
in the original principal amount of $535,000.00 (hereinafter, as amended and in
effect, the “NEOM-9-6 Debenture”), as amended by that certain Amendment to
NeoMedia Technologies, Inc. Secured Convertible Debenture No. NEOM-9-6 dated as
of January 5, 2010 entered into by and between the Borrower and the
Lender;
Secured
Convertible Debenture dated August 14, 2009 issued by the Borrower to the Lender
in the original principal amount of $475,000.00 (hereinafter, as amended and in
effect, the “NEOM-9-7 Debenture”, and collectively, together with the CCP-1
Debenture, the CCP-2 Debenture, the NEOM 4-1 Debenture, the NEOM 1-1 Debenture,
the NEOM 2008-1 Debenture, the NEOM 2008-2 Debenture, the NEOM 2008-3 Debenture,
the XXXX 0000-0 Xxxxxxxxx, the NEOM 9-1 Debenture, the NEOM 9-2 Debenture, the
NEOM 9-4 Debenture, the NEOM 9-5 Debenture, the NEOM 9-6 Debenture, the NEOM 9-7
Debenture, and the New Debenture, the “Debentures”), as amended by that certain
Amendment to NeoMedia Technologies, Inc. Secured Convertible Debenture No.
NEOM-9-7 dated as of January 5, 2010 entered into by and between the Borrower
and the Lender;
Promissory
Note dated April 1, 2010 made by the Borrower payable to the Lender in the
original principal amount of $500,000.00 (hereinafter, the “4/1/10 Note”, and
collectively, together with the Debentures and the 12/23/09 Note, the “Debt
Instruments”);
Master
Amendment Agreement dated as of March 27, 2007 by and between the Borrower and
the Lender;
SECURITIES PURCHASE
AGREEMENTS
Securities
Purchase Agreement dated as of August 23, 2006 entered into by and between the
Borrower and the Lender;
Securities
Purchase Agreement dated as of December 29, 2006 entered into by and between the
Borrower and the Lender;
Securities
Purchase Agreement dated as of March 27, 2007 entered into by and between the
Borrower and the Lender;
Securities
Purchase Agreement dated as of August 24, 2007 entered into by and between the
Borrower and the Lender;
Securities
Purchase Agreement dated as of July 29, 2008 entered into by and between the
Borrower and the Lender, as amended on April 6, 2009;
Agreement
dated June 5, 2009 by and between the Borrower and the Lender pursuant to which
the Lender purchased a secured convertible debenture in the original principal
amount of $715,000;
Agreement
dated July 15, 2009 by and between the Borrower and the Lender pursuant to which
the Lender purchased a secured convertible debenture in the original principal
amount of $535,000;
Agreement
dated August 14, 2009 by and between the Borrower and the Lender pursuant to
which the Lender purchased a secured convertible debenture in the original
principal amount of $475,000;
SECURITY
DOCUMENTS
Pledge
and Security Agreement dated as of August 23, 2006 entered into by and between
the Borrower and the Lender;
Security
Agreement dated as of March 27, 2007 entered into by and between the Obligors
and the Lender;
Security
Agreement (Patent) dated as of March 27, 2007 entered into by and between the
Obligors and the Lender;
Security
Agreement dated as of August 24, 2007 entered into by and between the Obligors
and the Lender;
Security
Agreement (Patent) dated as of August 24, 2007 entered into by and between the
Obligors and the Lender;
Security
Agreement dated as of July 29, 2008 entered into by and between the Borrower and
the Lender (the “2008 Security Agreement”);
Patent
Security Agreement dated as of July 29, 2008 entered into by and between the
Borrower and the Lender (the “2008 IPSA”, and together with the 2008 Security
Agreement, the “2008 Collateral Agreements”);
WARRANTS
“A”
Warrant No. CCP-001 dated February 17, 2006 executed and delivered to the Lender
by the Borrower granting the Lender the right to purchase 20,000,000 shares of
the Borrower’s common stock, as amended by that certain Amendment to “A” Warrant
No. CCP-001 dated as of August 23, 2006 entered into by and between the Borrower
and the Lender, as further amended by that certain Amendment to “A” Warrant No.:
CCP-001 dated December 29, 2006;
“B”
Warrant No. CCP-002 dated February 17, 2006 executed and delivered to the Lender
by the Borrower granting the Lender the right to purchase 25,000,000 shares of
the Borrower’s common stock, as amended by that certain Amendment to “B” Warrant
No. CCP-002 dated as of August 23, 2006 entered into by and between the Borrower
and the Lender, as further amended by that certain Amendment to “B” Warrant No.:
CCP-002 dated December 29, 2006;
“C”
Warrant No. CCP-003 dated February 17, 2006 executed and delivered to the Lender
by the Borrower granting the Lender the right to purchase 30,000,000 shares of
the Borrower’s common stock, as amended by that certain Amendment to “C” Warrant
No. CCP-003 dated as of August 23, 2006 entered into by and between the Borrower
and the Lender, as further amended by that certain Amendment to “C” Warrant No.:
CCP-003 dated December 29, 2006;
“A”
Warrant No. CCP-001 dated August 23, 2006 executed and delivered to the Lender
by the Borrower granting the Lender the right to purchase 25,000,000 shares of
the Borrower’s common stock, as amended by that certain Amendment to “A” Warrant
No. CCP-001 dated as of December 29, 2006 entered into by and between the
Borrower and the Lender;
“B”
Warrant No. CCP-001 dated August 23, 2006 executed and delivered to the Lender
by the Borrower granting the Lender the right to purchase 50,000,000 shares of
the Borrower’s common stock, as amended by that certain Amendment to “B” Warrant
No. CCP-001 dated as of December 29, 2006 entered into by and between the
Borrower and the Lender;
“C”
Warrant No. CCP-001 dated August 23, 2006 executed and delivered to the Lender
by the Borrower granting the Lender the right to purchase 50,000,000 shares of
the Borrower’s common stock, as amended by that certain Amendment to “C” Warrant
No. CCP-001 dated as of December 29, 2006 entered into by and between the
Borrower and the Lender;
“D”
Warrant No. CCP-001 dated August 23, 2006 executed and delivered to the Lender
by the Borrower granting the Lender the right to purchase 50,000,000 shares of
the Borrower’s common stock;
“A”
Warrant No. CCP-001 dated December 29, 2006 executed and delivered to the Lender
by the Borrower granting the Lender the right to purchase 42,000,000 shares of
the Borrower’s common stock;
Warrant
No. NEOM-4-1 dated March 27, 2007 executed and delivered to the Lender by the
Borrower granting the Lender the right to purchase 125,000,000 shares of the
Borrower’s common stock;
Warrant
No. NEOM-1-1 dated August 24, 2007 executed and delivered to the Lender by the
Borrower granting the Lender the right to purchase 75,000,000 shares of the
Borrower’s common stock;
Warrant
No. NEO-2008-2 dated May 16, 2008 executed and delivered to the Lender by the
Borrower granting the Lender the right to purchase 7,500,000 shares of the
Borrower’s common stock;
Warrant
No. NEO-2008-3 dated May 29, 2008 executed and delivered to the Lender by the
Borrower granting the Lender the right to purchase 50,000,000 shares of the
Borrower’s common stock;
Warrant
No. NEOM-9-1 dated July 29, 2008 executed and delivered to the Lender by the
Borrower granting the Lender the right to purchase 100,000,000 shares of the
Borrower’s common stock;
Warrant
No. NEOM-9-1-B dated July 29, 2008 executed and delivered to the Lender by the
Borrower granting the Lender the right to purchase 100,000,000 shares of the
Borrower’s common stock, as amended by that certain Amendment to NeoMedia
Technologies, Inc. Warrant No. NEOM-9-1B dated as of January 5, 2010 entered
into by and between the Borrower and the Lender;
Warrant
No. NEOM-9-1-C dated July 29, 2008 executed and delivered to the Lender by the
Borrower granting the Lender the right to purchase 125,000,000 shares of the
Borrower’s common stock, as amended by that certain Amendment to NeoMedia
Technologies, Inc. Warrant No. NEOM-9-1C dated as of January 5, 2010 entered
into by and between the Borrower and the Lender;
Warrant
No. NEOM-9-1-D dated July 29, 2008 executed and delivered to the Lender by the
Borrower granting the Lender the right to purchase 125,000,000 shares of the
Borrower’s common stock, as amended by that certain Amendment to NeoMedia
Technologies, Inc. Warrant No. NEOM-9-1D dated as of January 5, 2010 entered
into by and between the Borrower and the Lender;
Warrant
No. NEOM-10-1 dated January 5, 2010 executed and delivered to the Lender by the
Borrower granting the Lender the right to purchase 225,000,000 shares of the
Borrower’s common stock;
Letter
Agreement re: Repricing of All Existing Warrants dated August 24, 2007 entered
into by and between the Borrower and the Lender;
Global
Warrant Amendment dated May 29, 2010 entered into by and between the Borrower
and the Lender;
REGISTRATION RIGHTS
AGREEMENTS
Investor
Registration Rights Agreement dated as of February 17, 2006 entered into by and
between the Borrower and the Lender, as amended by the First Amendment to
Investor Registration Rights Agreement dated and as further amended by that
certain Second Amendment to Investor Registration Rights Agreement dated June
15, 2006;
Investor
Registration Rights Agreement dated as of August 23, 2006 entered into by and
between the Borrower and the Lender;
Investor
Registration Rights Agreement dated as of December 29, 2006 entered into by and
between the Borrower and the Lender;
Registration
Rights Agreement dated as of March 27, 2007 entered into by and between the
Borrower and the Lender;
Registration
Rights Agreement dated as of August 24, 2007 entered into by and between the
Borrower and the Lender;
Investor
Registration Rights Agreement dated as of January 5, 2010 entered into by and
between the Borrower and the Lender;
TRANSFER AGENT
INSTRUCTIONS
Amended
and Restated Irrevocable Transfer Agent Instructions dated October 26, 2007 from
the Borrower to Worldwide Stock Transfer, LLC, which amended and restated those
certain Irrevocable Transfer Agent Instructions dated February 16, 2006 from the
Borrower to American Stock Transfer & Trust Co.;
Irrevocable
Transfer Agent Instructions dated August 23, 2006 from the Borrower to American
Stock Transfer & Trust Co.;
Amended
and Restated Irrevocable Transfer Agent Instructions dated November 21, 2007
from the Borrower to Worldwide Stock Transfer, LLC, which amended and restated
those certain Irrevocable Transfer Agent Instructions dated December 29, 2006
from the Borrower to American Stock Transfer & Trust Co.;
Amended
and Restated Irrevocable Transfer Agent Instructions dated November 21, 2007
from the Borrower to Worldwide Stock Transfer, LLC, which amended and restated
those certain Irrevocable Transfer Agent Instructions dated August 23, 2006 from
the Borrower to American Stock Transfer & Trust Co.;
Irrevocable
Transfer Agent Instructions dated March 27, 2007 from the Borrower to Worldwide
Stock Transfer, LLC;
Irrevocable
Transfer Agent Instructions dated August 24, 2007 from the Borrower to Worldwide
Stock Transfer, LLC;
Irrevocable
Transfer Agent Instructions dated July 29, 2008 from the Borrower to Worldwide
Stock Transfer, LLC;
Irrevocable
Transfer Agent Instructions dated January 5, 2010 from the Borrower to Worldwide
Stock Transfer, LLC;
OTHER
DOCUMENTS
Blocked
Account Control Agreement (“Shifting Control”) dated as of August 28, 2008 by
and among the Borrower, the Lender, and JPMorgan Chase Bank, N.A.;
Lockup
Agreement dated July 28, 2008 by SKS Consulting of FL Corp. to the
Lender;
Lockup
Agreement dated July 28, 2008 by Xxxxx X. Xxxx to the Lender;
Lockup
Agreement dated July 28, 2008 by J. Xxxxx Xxxxxx to the Lender;
Pledge
Shares Escrow Agreement dated March 27, 2007 between the Borrower and the
Lender;
Monitoring
Fee Escrow Agreement dated January 5, 2010 by and among the Borrower, the
Lender, Yorkville Advisors, LLC, and Xxxxx Xxxxxxxx, Esquire;
Investment
Agreement dated February 17, 2006 by and between the Borrower and the
Lender;
Investment
Agreement dated January 5, 2010 by and between the Borrower and the Lender, as
amended by that certain First Amendment to Investment Agreement dated March 5,
2010;
Escrow
Agreement dated July 29, 2008 entered into by and among the Borrower, the
Lender, Yorkville Advisors, LLC, as Investment Manager, and Xxxxx Xxxxxxxx,
Esq., as Escrow Agent;
Escrow
Agreement dated April 1, 2010 entered into by and among the Borrower, the
Lender, Yorkville Advisors, LLC, as Investment Manager, and Xxxxx Xxxxxxxx,
Esq., as Escrow Agent; and
All other
documents, instruments, and agreements executed in connection with any of the
foregoing.
Annex
2
List
of Intellectual Property Rights
Issued
Gavitec patents
Patent Number
|
Title
|
Inventors
|
First priority
date
|
Countries
|
||||
EP
1 532 805 (WO20047/017624)
|
Image-Recording
device and use of said image-recording device
|
Xxxxxx,
Xxxxxxx
|
19.07.2002
|
AT,
BE, CH, DE, ES, FR,GB, IT, NL, TR
|
||||
WO20047/017624
|
Image-Recording
device and use of said image-recording device
|
Xxxxxx,
Xxxxxxx
|
19.07.2002
|
|||||
US
7,581,682 B2
|
|
Image
Recording Device, Method for Recording an Image that is visualized on a
display unit, Arrangement of an Image Recording Device and a display Unit,
Use of said Image Recording Device and use of said
arrangement
|
|
Küchen,
Müller, Nunnik
|
|
19.07.2002
|
|
US
|
Gavitec
patent applications
Patent Number
|
Title
|
Inventors
|
First priority
date
|
Countries
|
||||
DE
101 93 421.1
|
Device
comprising a decoding unit for decoding optical codes and use of such a
device for reading optical codes, and the use of a color camera for
reading optical codes
|
Xxxxxx,
Küchen
|
15.08.2000
|
DE
|
||||
AU
8,379,401A
|
Device
comprising a decoding unit for decoding optical codes and use of such a
device for reading optical codes, and the use of a color camera for
reading optical codes
|
Xxxxxx,
Küchen
|
15.08.2000
|
AU
|
||||
DE
100 40 563 A1
|
Vorrichtung
mit Decodiereinheit zum Decodieren optischer Codes
|
Xxxxxx,
Küchen
|
15.08.2000
|
DE
|
||||
WO
02/15119
|
Device
comprising a decoding unit for decoding optical codes and use of such a
device for reading optical codes, and the use of a color camera for
reading optical codes
|
Xxxxxx,
Küchen
|
15.08.2000
|
DE
101 93 423.8
|
Verfahren
und Vorrichtung zum Extrahieren von informationstragenden Merkmalen aus
einem digitalen Bild
|
Xxxxxx,
Küchen
|
18.08.2000
|
DE
|
||||
EP
1 312 035 A1
(Appl.
No 01 962 626.6 – 2210)
|
Method
and device for extracting information-bearing features from a digital
image
|
Xxxxxx,
Küchen
|
18.08.2000
|
EP
|
||||
AU
8,379,601
|
Method
and device for extracting information-bearing features from a digital
image
|
Xxxxxx,
Küchen
|
18.08.2000
|
AU
|
||||
DE
100 40 899A1
|
Verfahren
und Vorrichtung zum Decodieren optischen Codes
|
Xxxxxx,
Küchen
|
18.08.2000
|
DE
|
||||
WO02/15120
|
Method
and device for extracting information-bearing features from a digital
image
|
Xxxxxx,
Küchen
|
18.08.2000
|
|||||
DE
103 93 452.9
|
Bildaufnahmegerät,
Verfahren zum Aufnehmen eines an einem Display visualisierten Bildes und
Anordnung aus einer Bildaufnahmeeinheit und einem Display sowie Verwendung
des Bildaufnahmegeräts und Verwendung der Anordnung
|
Xxxxxx,
Xxxxxxx
|
19.07.2002
|
DE
|
||||
US
10/521,510
|
Image-Recording
device, method for recording an image that is visualized on a display
unit, arrangement of an image-recording device and a display unit, use of
said image-recording device, and use of said arrangement
|
Xxxxxx,
Xxxxxxx
|
19.07.2002
|
US
|
||||
EP
1 809 013A1 (Appl. No. 07008842.2-2202)
|
Image-Recording
device, method for recording an image that is visualized on a display
unit, arrangement of an image-recording device and a display unit, use of
said image-recording device, and use of said arrangement
|
Xxxxxx,
Xxxxxxx
|
19.07.2002
|
EP
|
||||
AT
03787662
|
Bildaufnahmegerät
sowie Verwendung des Bildaufnahmegerätes
|
Küchen,
Müller, Nunnik
|
19.07.2002
|
AT
|
||||
AU
2003250785
|
Image
Recording Device, Method for Recording an Image Device that is Visualized
on a Display Unit, Use of said Image Recording Device and use of said
Arrangement
|
Küchen,
Müller, Nunnik
|
19.07.2002
|
AU
|
||||
DE
102 54 060A1
|
Bildaufnahmegerät,
Verfahren zum Aufnehmen eines an einem Display visualisierten Bildes und
Anordnung aus einer Bildaufnahmeeinheit und einem Display sowie Verwendung
des Bildaufnahmegerätes und Verwendung der Anordnung
|
Küchen,
Müller, Nunnik
|
19.07.2002
|
DE
|
US
2009/0319364 A1
|
Image
Capturing Apparatus, Method for Capturing an Image shown in a display and
arrangement of an Image Capturing Unit and of a Display as well as use of
the Image Capturing Apparatus and of the Arrangement
|
Küchen,
Müller, Nunnik
|
19.07.2002
|
US
|
||||
US
2005/0207385 A1)
|
Image
Recording Device, Method for Recording an Image that is visualized on a
display unit, Arrangement of an Image Recording Device and a display Unit,
Use of said Image Recording Device and use of said
arrangement
|
Küchen,
Müller, Nunnik
|
19.07.2002
|
US
|
||||
DE
11 2005 002 412.1
|
Kommunikationsgerät,
Verfahren zum Bereitstellen von
Informationen
und diesbezügliche Schnittstelle
|
Xxxxxxxx,
Xxxxxx
|
01.10.2004
|
DE
|
||||
EP
1 794 704 (Appl. No 05790841.0-1224)
|
Kommunikationsgerät,
Verfahren zum Bereitstellen von
Informationen
und diesbezügliche Schnittstelle
|
Xxxxxxxx,
Xxxxxx
|
01.10.2004
|
EP
|
||||
WO2006/037287
|
Kommunikationsgerät,
Verfahren zum Bereitstellen von
Informationen
und diesbezügliche Schnittstelle
|
Xxxxxxxx,
Xxxxxx
|
01.10.2004
|
|||||
DE
10 2005 010 146
|
Kommunikationsgerät,
Verfahren zum Bereitstellen von
Informationen
und diesbezügliche Schnittstelle
|
Xxxxxxxx,
Xxxxxx
|
01.10.2004
|
DE
|
||||
US
20080125162 (Appl. No 11/664,443)
|
Communication
device, method for providing data, and corresponding
interface
|
Xxxxxxxx,
Xxxxxx
|
01.10.2004
|
US
|
||||
DE
10 2006 050 409
|
System
und Verfahren zum Bild- und Datenupload mit mobilem
Endgerät
|
Xxxxxx,
Joußen
|
02.06.2006
|
DE
|
||||
PCT/DE2007/000964
|
System
und Verfahren zum Bild- und Datenupload mit mobilem
Endgerät
|
Xxxxxx,
Joußen
|
02.06.2006
|
WO
|
||||
EP
2 027 699
|
|
System
and method for picture and data upload with a mobile
terminal
|
|
Xxxxxx,
Joussen
|
|
02.06.2006
|
|
EP
|
Gavitec
Trademarks
Trademark No.
|
Trademark
|
Type
|
Filing Date
|
Classes
|
||||
DE302009043947
|
NeoMedia
|
Word
Xxxx
|
24.07.2009
|
9,
38, 42
|
||||
DE30357498
|
Mobile
digit
|
Word
Xxxx
|
04.11.2003
|
9,
16, 42
|
||||
DE302009006309
|
XELIA
|
Word
Xxxx
|
04.02.2009
|
9,
38, 42, 45
|
||||
EM02218568
|
Lavasphere
|
Word
Xxxx
|
16.05.2001
|
9,
16, 42
|
||||
EM03909629
|
|
EXIO
|
|
Word
Xxxx
|
|
01.07.2004
|
|
9,
38,
42
|