Government Compliance from Loan and Security Agreement
This LOAN AND SECURITY AGREEMENT (this Agreement) dated as of June 27, 2006, between SILICON VALLEY BANK, a California chartered bank, with its principal place of business at 3003 Tasman Drive, Santa Clara, California 95054 and with a loan production office located at 230 W. Monroe, Suite 720, Chicago, Illinois 60606 (FAX 312-704-1530) (Bank) and TELULAR CORPORATION, a Delaware corporation, with offices at 647 N. Lakeview Parkway, Vernon Hills, Illinois (FAX 847-573-2011) (Borrower), provides the terms on which Bank shall lend to Borrower and Borrower shall repay Bank. The parties agree as follows:
Government Compliance. Borrower shall maintain its and all Subsidiaries legal existence and good standing in their respective jurisdictions of formation and maintain qualification in each jurisdiction in which the failure to so qualify would reasonably be expected to have a material adverse effect on Borrowers business or operations. Borrower shall comply, and have each Subsidiary comply, with all laws, ordinances and regulations to which it is subject, noncompliance with which could have a material adverse effect on Borrowers business or operations or would reasonably be expected to cause a Material Adverse Change.