LOAN AND SECURITY AGREEMENTLoan and Security Agreement • August 12th, 2015 • VirtualScopics, Inc. • Surgical & medical instruments & apparatus • New York
This LOAN AND SECURITY AGREEMENT (this “Agreement”) dated as of August 7, 2015 (the “Effective Date”) is by and among (a) SILICON VALLEY BANK, a California corporation (“Bank”), and (b) (i) VIRTUALSCOPICS, INC., a Delaware corporation (“Parent Borrower”), and (ii) VirtualScopics New York, LLC, a New York limited liability company (“Subsidiary Borrower”) (Parent Borrower and Subsidiary Borrower are, individually and collectively, jointly and severally, “Borrower”), and provides the terms on which Bank shall lend to Borrower, and Borrower shall repay Bank. The parties agree as follows:
