LOAN AND SECURITY AGREEMENTLoan and Security Agreement • August 14th, 2003 • Paradigm Genetics Inc • Services-commercial physical & biological research • Delaware
THIS LOAN AND SECURITY AGREEMENT (this “Agreement”) dated July 10, 2003, between SILICON VALLEY BANK (“Bank”), whose address is 3003 Tasman Drive, Santa Clara, California 95054 and having a loan production office at 2530 Meridian Parkway, 3rd Floor, Durham, North Carolina 27713 and PARADIGM GENETICS, INC., a corporation organized and in good standing in the State of Delaware (“Borrower”), whose address is 108 T.W. Alexander Drive, Research Triangle Park, North Carolina 27709-4528 provides the terms on which Bank will lend to Borrower and Borrower will repay Bank. The parties agree as follows:
TERM NOTEParadigm Genetics Inc • August 14th, 2003 • Services-commercial physical & biological research
This Note is “Term Note” described in the Loan Agreement, to which reference is hereby made for a more complete statement of the terms and conditions under which the Term Loan evidenced hereby is made. This Note is secured as provided in the Loan Agreement. All capitalized terms used herein and not otherwise defined shall have the meanings given to such terms in the Loan Agreement.
NEGATIVE PLEDGE AGREEMENTNegative Pledge Agreement • August 14th, 2003 • Paradigm Genetics Inc • Services-commercial physical & biological research
This Negative Pledge Agreement (this “Pledge”) is made as of July 10, 2003, by and between PARADIGM GENETICS, INC., a Delaware corporation, (“Borrower”) and SILICON VALLEY BANK (“Bank”).
