INTELLECTUAL PROPERTY SECURITY
AGREEMENT
This INTELLECTUAL PROPERTY SECURITY AGREEMENT
(as amended, amended and restated, supplemented or otherwise
modified from time to time, the “ IP Security
Agreement ”) dated June 9, 2008, is made by CWD Doors
and Windows, Inc. (the “ Canadian Borrower
”) in favour of General Electric Capital Corporation, as
Collateral Agent (the “ Collateral Agent
”) for the Secured Parties (as defined in the Credit
Agreement referred to below).
WHEREAS, Ply Gem Industries, Inc., a Delaware
corporation (the “ Specified U.S. Borrower
”) and the other Loan Parties party thereto have entered into
a Credit Agreement dated as of June 9, 2008 (as amended,
amended and restated, supplemented or otherwise modified from time
to time, the “ Credit Agreement ”), with,
inter alia , General Electric Capital Corporation, as
Collateral Agent, and the Lenders party thereto. Terms
defined in the Credit Agreement and not otherwise defined herein
are used herein as defined in the Credit Agreement.
WHEREAS, as a condition precedent to the making
of Loans and the issuance of Letters of Credit by the Lender
Parties under the Credit Agreement and the entry into Secured Hedge
Agreements by the Hedge Banks and the entry into Secured Cash
Management Agreements by the Cash Management Banks from time to
time, the Canadian Borrower has executed and delivered that certain
Security Agreement dated June 9, 2008 made by the Canadian
Borrower to the Collateral Agent (as amended, amended and restated,
supplemented or otherwise modified from time to time, the “
Security Agreement ”).
WHEREAS, under the terms of the Security
Agreement, the Canadian Borrower has granted to the Collateral
Agent, for the ratable benefit of the Secured Parties, a security
interest in, among other property, certain intellectual property of
the Canadian Borrower, and has agreed as a condition thereof to
execute this IP Security Agreement for recording with the United
States Patent and Trademark Office, the United States Copyright
Office, the Canadian Intellectual Property Office and other
governmental authorities.
NOW, THEREFORE, for good and valuable
consideration, the receipt and sufficiency of which are hereby
acknowledged, the Canadian Borrower agrees as follows:
SECTION 1. Grant of Security
. The Canadian Borrower hereby grants to the Collateral
Agent for the ratable benefit of the Secured Parties a security
interest in each type of property described below, and all of the
Canadian Borrower’s right, title and interest therein and
thereto, (the “ Collateral ”):
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the patents and
patent applications set forth in Schedule A hereto (the “
Patents ”);
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the trademark
and service mark registrations and applications set forth in
Schedule B hereto (provided that no security interest shall be
granted any trademark, whether registered, unregistered or applied
for, to the extent that, and solely during the period in which, the
grant of a security interest therein would impair the validity or
enforceability of such trademark under applicable federal law),
together with the goodwill symbolized thereby (the “
Trademarks ”);
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all copyrights,
whether registered or unregistered, now owned or hereafter acquired
by the Canadian Borrower, in
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