LOAN AND SECURITY AGREEMENTLoan and Security Agreement • October 10th, 2012 • InsPro Technologies Corp • Services-prepackaged software • Delaware
THIS LOAN AND SECURITY AGREEMENT (this “Agreement”) dated as of October 3, 2012 (the “Effective Date”) by and among (a) SILICON VALLEY BANK, a California corporation with a loan production office located at 5 Radnor Corporate Center, 100 Matsonford Road, Suite 555, Radnor, Pennsylvania 19087 (“Bank”), and (b) (i) INSPRO TECHNOLOGIES CORPORATION, a Delaware corporation (“Corp.”), (ii) INSPRO TECHNOLOGIES, LLC (“LLC”), a Delaware limited liability company, and (iii) ATIAM TECHNOLOGIES L.P., a Delaware limited partnership (“L.P.”) (Corp, LLC and L.P. are individually and collectively, jointly and severally, “Borrower”), provides the terms on which Bank shall lend to Borrower and Borrower shall repay Bank. The parties agree as follows:
