|
Exhibit
10.3.3
INTELLECTUAL PROPERTY
SECURITY AGREEMENT
INTELLECTUAL PROPERTY
SECURITY AGREEMENT (this “ Agreement ”), dated
as of June 25, 2007, by and among (a) each of the
Borrowers listed on Schedule I hereto (each such Borrower,
individually, a “ Grantor ” and, collectively,
the “ Grantors ”) and (b) BANK OF AMERICA,
N.A., a national banking association, as collateral agent (in such
capacity, the “ Collateral Agent ”) for its own
benefit and the benefit of the other Credit Parties (as defined in
the Credit Agreement referred to below), in consideration of the
mutual covenants contained herein and benefits to be derived
herefrom.
WITNESSETH:
WHEREAS, reference is made to
that certain Credit Agreement, dated as of June 25, 2007 (as
amended, modified, supplemented or restated and in effect from time
to time, the “ Credit Agreement ”), by and among
(i) the Borrowers from time to time party thereto,
(ii) the Guarantors from time to time party thereto,
(iii) the Lenders from time to time party thereto
(individually, a “ Lender ” and, collectively,
the “ Lenders ”), and (iv) Bank of America,
N.A., as Administrative Agent, Collateral Agent, Swing Line Lender
and L/C Issuer, pursuant to which the Lenders have agreed to make
Loans to the Borrowers, and the L/C Issuer has agreed to issue
Letters of Credit for the account of the Borrowers, upon the terms
and subject to the conditions specified in the Credit Agreement;
and
WHEREAS, the obligations of
the Lenders to make Loans and of the L/C Issuer to issue Letters of
Credit are each conditioned upon, among other things, the execution
and delivery by the Grantors of (i) that certain Security
Agreement, dated as of June 25, 2007 (as amended, modified,
supplemented or restated and in effect from time to time, the
“ Security Agreement ”), by and among the
Grantors and the Collateral Agent, pursuant to which each Grantor
grants to the Collateral Agent (for its own benefit and the benefit
of the other Credit Parties) a security interest in and to the
Collateral (as defined herein), and (ii) an agreement in the
form hereof, pursuant to which each Grantor grants to the
Collateral Agent (for its own benefit and the benefit of the other
Credit Parties) a security interest in and to the IP Collateral (as
defined herein), in order to secure the Secured Obligations (as
defined herein).
NOW, THEREFORE, in
consideration of the mutual conditions and agreements set forth in
this Agreement, and for good and valuable consideration, the
receipt of which is hereby acknowledged, the Grantors and the
Collateral Agent, on its own behalf and on behalf of the other
Credit Parties (and each of their respective successors or
assigns), hereby agree as follows:
SECTION 1. Definitions
.
1.1 Generally . All
references herein to the UCC shall mean the Uniform Commercial Code
as in effect from time to time in the State of New York;
provided , however , that if a term is defined in
Article 9 of the UCC differently than in another Article thereof,
the term shall have the meaning set forth in Article 9;
provided further that, if by reason of mandatory
provisions of law, perfection, or the effect of perfection or
non-perfection, of the security interest in any IP
1
Collateral or the availability of any
remedy hereunder is governed by the Uniform Commercial Code as in
effect in a jurisdiction other than New York, “UCC”
means the Uniform Commercial Code as in effect in such other
jurisdiction for purposes of the provisions hereof relating to such
perfection or effect of perfection or non-perfection or
availability of such remedy, as the case may be.
1.2 Definition of Certain
Terms Used Herein . Unless the context otherwise requires, all
capitalized terms used but not defined herein shall have the
meanings set forth in the Credit Agreement. In addition, as used
herein, the following terms shall have the following
meanings:
“ Collateral
” shall have the meaning assigned to such term in the
Security Agreement.
“ Collateral
Agent ” shall have the meaning assigned to such term in
the preamble of this Agreement.
“ Copyrights
” shall mean all copyrights and like protections in each work
of authorship or derivative work thereof of any Grantor, whether
registered or unregistered and whether published or unpublished,
including, without limitation, the United States copyright
registrations and copyright applications listed on EXHIBIT A
annexed hereto and made a part hereof, together with any goodwill
of the business connected with, and symbolized by, any of the
foregoing.
“ Copyright
Licenses ” shall mean all agreements, whether written or
oral, providing for the grant by or to any Grantor of any right
under any Copyright, including, without limitation, the agreements
listed on EXHIBIT A annexed hereto and made a part
hereof.
“ Copyright
Office ” shall mean the United States Copyright Office or
any other federal governmental agency which may hereafter perform
its functions.
“ Credit
Agreement ” shall have the meaning assigned to such term
in the preliminary statement of this Agreement.
“ Grantor
” and “ Grantors ” shall have the meaning
assigned to such terms in the preamble of this
Agreement.
“ Intellectual
Property ” shall have the meaning assigned to such term
in SECTION 3 of this Agreement.
“ IP Collateral
” shall have the meaning assigned to such term in SECTION 2
of this Agreement.
“ Lender ”
and “ Lenders ” shall have the meaning assigned
to such terms in the preliminary statement of this
Agreement.
2
“ Licenses
” shall mean, collectively, the Copyright Licenses, Patent
Licenses, Trademark Licenses, and any other license providing for
the grant by or to any Grantor of any right under any Intellectual
Property.
“ Patents
” shall mean all patents and applications for patents of any
Grantor, and the inventions and improvements therein disclosed, and
any and all divisions, revisions, reissues and continuations,
continuations-in-part, extensions, and reexaminations of said
patents including, without limitation, the United States patent
registrations and patent applications listed on EXHIBIT B
annexed hereto and made a part hereof.
“ Patent
Licenses ” shall mean all agreements, whether written or
oral, providing for the grant by or to any Grantor of any right
under any Patent, including, without limitation, the agreements
listed on EXHIBIT B annexed hereto and made a part
hereof.
“ PTO ”
shall mean the United States Patent and Trademark Office or any
other federal governmental agency which may hereafter perform its
functions.
“ Secured
Obligations ” shall mean the Obligations (as defined in
the Credit Agreement); provided , however , that
Obligations which constitute Other Liabilities shall be Secured
Obligations solely to the extent that there is sufficient IP
Collateral following satisfaction of the obligations described in
clause (a) of the definition of Obligations.
“ Security
Agreement ” shall have the meaning assigned to such term
in the preliminary statement of this Agreement.
“ Trademarks
” shall mean all trademarks, trade names, corporate names,
company names, domain names, business names, fictitious business
names, trade dress, trade styles, service marks, designs, logos and
other source or business identifiers of any Grantor, whether
registered or unregistered, including, without limitation, the
United States trademark registrations and trademark applications
listed on EXHIBIT C annexed hereto and made a part hereof,
together with any goodwill of the business connected with, and
symbolized by, any of the foregoing.
“ Trademark
Licenses ” shall mean all agreements, whether written or
oral, providing for the grant by or to any Grantor of any right
under any Trademark, including, without limitation, the agreements
listed on EXHIBIT C annexed hereto and made a part
hereof.
1.3 Rules of
Interpretation. The rules of interpretation specified in
Sections 1.02 through 1.06 of the Credit Agreement shall be
applicable to this Agreement.
SECTION 2. Grant of
Security Interest . In furtherance and as confirmation of the
Security Interest (as defined in the Security Agreement) granted by
the Grantors to the Collateral Agent (for its own benefit and the
benefit of the other Credit Parties) under the Security Agreement,
and as further security for the payment or performance, as the case
may be, in full of the Secured Obligations, each of the Grantors
hereby ratifies such Security Interest and grants to the Collateral
Agent (for its own benefit and the benefit of the other Credit
Parties) a continuing
3
security interest, with a power of sale
(which power of sale shall be exercisable only following the
occurrence and during the continuance of an Event of Default), in
all of the present and future right, title and interest of such
Grantor in and to the following property, and each item thereof,
whether now owned or existing or hereafter acquired or arising,
together with all products, proceeds, substitutions, and accessions
of or to any of the following property (collectively, the “
IP Collateral ”):
(a) All Copyrights and
Copyright Licenses;
(b) All Patents and Patent
Licenses;
(c) All Trademarks and
Trademark Licenses;
(d) All other
Licenses;
(e) All renewals of any of
the foregoing;
(f) All trade secrets,
know-how and other proprietary information; works of authorship and
other copyright works (including copyrights for computer programs),
and all tangible and intangible property embodying the foregoing;
inventions (whether or not patentable) and all improvements
thereto; industrial design applications and registered industrial
designs; books, records, writings, computer tapes or disks, flow
diagrams, specification sheets, computer software, source codes,
object codes, executable code, data, databases, and other physical
manifestations, embodiments or incorporations of any of the
foregoing, and any Licenses in any of the foregoing, and all other
Intellectual Property and proprietary rights;
(g) All General Intangibles
connected with the use of, or related to, any and all Intellectual
Property (including, without limitation, all goodwill of each
Grantor and its business, products and services appurtenant to,
associated with, or symbolized by, any and all Intellectual
Property and the use thereof);
(h) All income, royalties,
damages and payments now and hereafter due and/or payable under and
with respect to any of the foregoing, including, without
limitation, payments under all Licenses entered into in connection
therewith and damages and payments for past or future
infringements, misappropriations or dilutions thereof;
(i) The right to sue for
past, present and future infringements, misappropriations, and
dilutions of any of the foregoing; and
(j) All of the
Grantors’ rights corresponding to any of the foregoing
throughout the world.
SECTION 3. Protection of
Intellectual Property By Grantors . Except as set forth below
in this SECTION 3, each of the Grantors shall undertake the
following with respect to each of the items respectively described
in Sections 2(a), (b), (c), (d), (e), (f) and
(g) (collectively, the “ Intellectual Property
”):
(a) Pay all renewal fees and
other fees and costs associated with maintaining the Intellectual
Property and with the processing and prosecution of the
Intellectual Property and take all other steps reasonably necessary
to maintain each registration of the Intellectual Property, except,
in each case, to the extent that the failure to do so could not
reasonably be expected to have a Material Adverse
Effect.
4
(b) Take all actions
reasonably necessary to prevent any of the Intellectual Property
from becoming forfeited, abandoned, dedicated to the public,
invalidated or impaired in any way, except, in each case, to the
extent that the failure to do so could not reasonably be expected
to have a Material Adverse Effect.
(c) At the Grantors’
sole cost, expense, and risk, pursue the processing and prosecution
of each application for registration which is the subject of the
security interest created herein and not abandon or delay any such
efforts, except, in each case, to the extent that the failure to do
so could not reasonably be expected to have a Material Adverse
Effect.
(d) At the Grantors’
sole cost, expense, and risk, take any and all action which the
Grantors reasonably deem necessary or desirable under the
circumstances to protect the Intellectual Property from
infringement, misappropriation or dilution, including, without
limitation, the prosecution and defense of infringement actions,
except, in each case, to the extent that the failure to do so could
not reasonably be expected to have a Material Adverse
Effect.
SECTION 4. Grantors’
Representations and Warranties . In addition to any
representations and warranties contained in any of the other Loan
Documents, each Grantor represents and warrants that:
(a) EXHIBIT A is a
true, correct and complete list of all United States Copyrights
owned by such Grantor and all Copyright Licenses to which such
Grantor is a party as of the date hereof.
(b) EXHIBIT B is a
true, correct and complete list of all United States Patents owned
by such Grantor and all Patent Licenses to which such
Grantor
|