Remedies Cumulative 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:
Remedies Cumulative. Banks rights and remedies under this Agreement, the Loan Documents, and all other agreements are cumulative. Bank has all rights and remedies provided under the Code, by law, or in equity. Banks exercise of one right or remedy is not an election, and Banks waiver of any Event of Default is not a continuing waiver. Banks delay is not a waiver, election, or acquiescence. No waiver hereunder shall be effective unless signed by Bank and then is only effective for the specific instance and purpose for which it was given.