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Careview Communicaions, Inc. 8-K [careview-8k_08312011.htm]
 
Exhibit 10.84
 
 
INTELLECTUAL PROPERTY SECURITY AGREEMENT
 
 
This Intellectual Property Security Agreement is entered into as of August 31,
2011 by and between COMERICA BANK (“Comerica” and, solely in its capacity as
collateral agent for the Lenders (as defined below), “Collateral Agent”), and
CAREVIEW COMMUNICATIONS, INC., a Nevada corporation (“Grantor”).
 
RECITALS
 
A.           Comerica and Bridge Bank, National Association (“Bridge” and,
collectively with Comerica, the “Lenders” and, each individually, a “Lender”)
have agreed to make certain advances of money and to extend certain financial
accommodations to Grantor (the “Loans”) in the amounts and manner set forth in
that certain Loan and Security Agreement by and among Collateral Agent, the
Lenders, Careview Communications, Inc., a Texas corporation, Careview
Operations, L.L.C., a Texas limited liability company, and Grantor dated of even
date herewith (as the same may be amended, modified or supplemented from time to
time, the “Loan Agreement”; capitalized terms used herein are used as defined in
the Loan Agreement). Lenders are willing to make the Loans to Grantor, but only
upon the condition, among others, that Grantor shall grant to Collateral Agent,
for the ratable benefit of the Lenders, a security interest in certain
Copyrights, Trademarks and Patents to secure the obligations of Grantor under
the Loan Agreement.
 
B.           Pursuant to the terms of the Loan Agreement, Grantor has granted to
Collateral Agent, for the ratable benefit of the Lenders, a security interest in
all of Grantor’s right, title and interest, whether presently existing or
hereafter acquired, in, to and under all of the Collateral.
 
NOW, THEREFORE, for good and valuable consideration, receipt of which is hereby
acknowledged, and intending to be legally bound, as collateral security for the
prompt and complete payment when due of its obligations under the Loan Agreement
and all other agreements now existing or hereafter arising between Grantor,
Collateral Agent and the Lenders, Grantor hereby represents, warrants, covenants
and agrees as follows:
 
AGREEMENT
 
To secure its obligations under the Loan Agreement and under any other agreement
now existing or hereafter arising between Grantor, Collateral Agent and any
Lender, Grantor grants and pledges to Collateral Agent, for the ratable benefit
of the Lenders, a security interest in all of Grantor’s right, title and
interest in, to and under its Intellectual Property Collateral (including
without limitation those Copyrights, Patents and Trademarks listed on Exhibits
A, B and C hereto), and including without limitation all proceeds thereof (such
as, by way of example but not by way of limitation, license royalties and
proceeds of infringement suits), the right to sue for past, present and future
infringements, all rights corresponding thereto throughout the world and all
re-issues, divisions continuations, renewals, extensions and
continuations-in-part thereof.
 
This security interest is granted in conjunction with the security interest
granted to Collateral Agent, for the ratable benefit of the Lenders, under the
Loan Agreement. The rights and remedies of Collateral Agent with respect to the
security interest granted hereby are in addition to those set forth in the Loan
Agreement and the other Loan Documents, and those which are now or hereafter
available to Collateral Agent and the Lenders as a matter of law or equity. Each
right, power and remedy of Collateral Agent and the Lenders provided for herein
or in the Loan Agreement or any of the Loan Documents, or now or hereafter
existing at law or in equity shall be cumulative and concurrent and shall be in
addition to every right, power or remedy provided for herein and the exercise by
Collateral Agent or any Lender of any one or more of the rights, powers or
remedies provided for in this Intellectual Property Security Agreement, the Loan
Agreement or any of the other Loan Documents, or now or hereafter existing at
law or in equity, shall not preclude the simultaneous or later exercise by any
person, including Collateral Agent or any Lender, of any or all other rights,
powers or remedies.
 
Grantor represents and warrants that Exhibits A, B, and C attached hereto set
forth any and all intellectual property rights in connection to which Grantor
has registered or filed an application with either the United States Patent and
Trademark Office or the United States Copyright Office, as applicable.
 
 
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Upon payment in full, in cash, of all Obligations under the Loan Agreement, and
termination of the Lenders’ commitment to lend thereunder, and upon Grantor’s
written request therefore, and at Grantor’s sole cost and expense, Collateral
Agent shall execute and deliver to Grantor such reassignment and release
documents (or similar) as shall be reasonably necessary to terminate the
security interest evidenced by this agreement.
 
This Agreement may be executed in two or more counterparts, each of which shall
be deemed an original but all of which together shall constitute the same
instrument.
 
[Balance of Page Intentionally Left Blank]
 
 
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IN WITNESS WHEREOF, the parties have caused this Intellectual Property Security
Agreement to be duly executed by its officers thereunto duly authorized as of
the first date written above.
 

             
GRANTOR:
     
Address of Grantor:
 
CAREVIEW COMMUNICATIONS, INC., a Nevada corporation
405 State Highway 121 Bypass, Suite B240
   
Lewisville, Texas 75067
             
By:
   
Attn: Chief Executive Officer
         
Title:
             
COLLATERAL AGENT:
      Address of Bank:  
COMERICA BANK, as Collateral Agent
     
39200 Six Mile Road, M/C 7578
 
By:
   
Livonia, Michigan 48152
   
Attn: National Documentation Services
 
Title:
   

 
 
 

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EXHIBIT A
 
Copyrights
 
Description
 
Registration Number
 
Registration Date
         
None
       

 
 
 

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EXHIBIT B
 
Patents
 
Description
 
Patent/App. No.
 
File Date
           
System and method for predicting patient falls
    12151452  
5/6/08
System and method for documenting patient procedures
    12589654  
10/26/09
 Non-intrusive data transmission network for use in an enterprise facility and
method for implementing     7477285   
1/13/09

 
 
 

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EXHIBIT C
 
Trademarks
 
 
Description
 
Serial/Registration No.
 
File Date
           
ACTUAL PRIVATE NETWORK
    85298254  
4/18/11
PROCEDUREVIEW
    85298248  
4/18/11
EQUIPMENTVIEW
    85298243  
4/18/11
CAREVIEW NETWORKS
    85298241  
4/18/11
CAREVIEW COMMUNICATIONS
    85298239  
4/18/11
CAREVIEW SYSTEM
    85298202  
4/18/11
VIRTUAL BED RAILS
    85296883  
4/15/11
NETVIEW
    77377234  
1/22/08
MOVIEVIEW
    77377223  
1/22/08
BABYVIEW
    77377209  
1/22/08
PATIENTVIEW
    77377200  
1/22/08
FACILITYVIEW
    77308398  
10/19/07
SECUREVIEW
    77308365  
10/19/07
NURSEVIEW
    77308303  
10/19/07
PHYSICIANVIEW
    77308283  
10/19/07

 
 
 

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