INTELLECTUAL PROPERTY SECURITY AGREEMENTIntellectual Property Security Agreement • May 7th, 2007 • Sonic Foundry Inc • Radio & tv broadcasting & communications equipment • California
This Intellectual Property Security Agreement (this “IP Agreement”) is made as of the 2nd day of May, 2007, by and between SONIC FOUNDRY MEDIA SYSTEMS, INC., a Maryland corporation with its principal place of business at 222 W. Washington Avenue, Madison, Wisconsin 53703 (“Grantor”), and SILICON VALLEY BANK, a California corporation, with its principal place of business at 3003 Tasman Drive, Santa Clara, California 95054 and with a loan production office located at One Newton Executive Park, Suite 200, 2221 Washington Street, Newton, Massachusetts 02462 (“Lender”).
LOAN AND SECURITY AGREEMENTLoan and Security Agreement • May 7th, 2007 • Sonic Foundry Inc • Radio & tv broadcasting & communications equipment • Maryland
THIS LOAN AND SECURITY AGREEMENT (this “Agreement”) dated as of May 2, 2007 (the “Effective Date”) between SILICON VALLEY BANK, a California corporation and with a loan production office located at 230 W. Monroe, Suite 720, Chicago, Illinois 60606 (“Bank”), and SONIC FOUNDRY, INC., a Maryland corporation (“Sonic Foundry”) and SONIC FOUNDRY MEDIA SYSTEMS, INC., a Maryland corporation (“Sonic Systems”) (Sonic Foundry and Sonic Systems, jointly, severally, and collectively, “Borrower”), provides the terms on which Bank shall lend to Borrower and Borrower shall repay Bank. In consideration of the mutual covenants contained herein and benefits to be derived herefrom, the parties agree as follows:
