Document:

Form of Pledge and Escrow Agreement

 

 

SECURITY
AGREEMENT

THIS SECURITY
AGREEMENT (the "Agreement") is effective June 4, 2003 (the "Effective
Date"), by and among P.W. Stephens, Inc. (the "Obligor") and The
Vantage Group Ltd. (the "Holder"). 

Recitals:

On the date hereof, the
Obligor issued a Revolving Line of Credit Note (the "Note") to the Holder
pursuant to which the Obligor agreed to grant to the Holder a security interest
in all of its assets.  This Agreement is intended to grant such a security
interest to the Holder.

Agreement:

NOW, THEREFORE,
in consideration of the mutual covenants, agreements, warranties, and
representations herein contained, and for other good and valuable
consideration, the receipt and sufficiency of which is hereby acknowledged, the
parties hereto agree as follows:

TERMS AND
CONDITIONS

1.                 
Creation of Security Interest in Assets of the Obligor.  As
security for the full performance of the Obligor under the Note, including
reasonable fees and expenses incurred by the Holder to obtain, preserve and
enforce this Agreement and the security interest created hereunder and to
maintain and preserve the Collateral (as defined herein), including, without
limitation, reasonably attorneys' fees and costs, whether or not involving
litigation and/or appellate or bankruptcy proceedings (collectively, the "Obligations"),
the Obligor hereby assigns and pledges to the Holder, and hereby grants to the Holder
a continuing security interest in, all of the Obligor's right, title and
interest in and to all of its tangible and intangible assets, in all cases
whether now or hereafter existing, whether now owned or hereafter acquired and
wherever located (the "Collateral"), including, without limitation, the
following kinds and types of property:

1.1.           
All accounts, accounts receivable, other rights to payment, documents,
chattel paper, general intangibles, deposit accounts, investment property,
financial assets and letter-of-credit rights, and all rights now or hereafter
existing in and to all security agreements, letters of credit and other
supporting obligations or contracts securing or otherwise relating to any of
the foregoing (any and all such accounts, accounts receivable, other rights to
payment, documents, chattel paper, general intangibles, deposit accounts,
investment property, financial assets and letter-of-credit rights being the "Receivables,"
and any and all such security agreements, letters of credit and other
supporting obligations or contracts being the "Related Contracts");

1.2.           
All drafts, acceptances, promissory notes and other instruments (the  "Instruments");

1.3.           
All equipment, machinery, trucks and other motor vehicles, furnishings
and fixtures, all parts thereof, all accessions thereto and all replacements
thereof, wherever located (any and all such equipment, machinery, vehicles,
furnishings, fixtures, parts, accessories and replacements being the "Equipment");

 

 

1.4.           
All inventory in all of its forms, wherever located, (including, but not
limited to) (i) all raw materials and work in process therefore, all
finished goods thereof, and all materials used or consumed in the production
thereof, (ii) all goods in which the Obligor has a joint or other interest
or right of any kind (including, without limitation, goods in which the Obligor
has an interest or right as consignee), (iii) all goods which are returned to
or repossessed by the Obligor and (iv) all accessions thereto, products thereof
and documents therefore (any and all such inventory, accessions, products and
documents being the "Inventory" or "Inventory"), and all farm
products;

1.5.           
All books, records, programs and software relating to any of the
foregoing Collateral; and

1.6.           
All proceeds of any and all of the foregoing Collateral and, to the
extent not otherwise included, all payments under insurance (whether or not the
Holder is the loss payee thereof), or any indemnity, warranty or guaranty,
payable by reason of loss or damage to or otherwise with respect to any of the
foregoing Collateral.

1.7.           
So long as any Obligations are due and owing to the Holder or an Event
of Default has occurred and is continuing, the Obligor shall not, and the Obligor
shall not take any action to cause the Obligor, to sell, exchange, lease,
negotiate, pledge, assign or grant any security interest in or otherwise
dispose of the Collateral to anyone other than the Holder, nor permit any other
lien of any kind to attach thereto, nor permit the same to be attached to or
commingled with other goods or property, without the Holder's written consent,
subject to the subordination of the Holder's rights as set forth in Section 8.   

2.                 
Representations and Warranties.  The Obligor hereby
represents, warrants and covenants to the Holder that (i) the Obligor has full
power, right and authority to enter into and perform its obligations under this
Agreement, and (ii) this Agreement has been duly executed and delivered by the
Obligor and constitutes the valid and binding obligation of the Obligor enforceable
against it in accordance with its terms.  No permits, approvals or consents of
or notifications to (i) any governmental entities, or (ii) any other persons or
entities are necessary in connection with the execution, delivery and
performance by the Obligor of this Agreement.  Neither the execution and
delivery of this Agreement by the Obligor nor the performance by it of the
transactions contemplated hereby will:

                        2.1.      Violate
or conflict with or result in a breach of any provision of any law, statute,
rule, regulation, order, permit, judgment, ruling, injunction, decree or other
decision (collectively, "Rules") of any court or other tribunal or any
governmental entity or agency binding on the Obligor or his properties, or
conflict with or cause an event of default under any contract or agreement of
the Obligor; or

                        2.2.      Require
any authorization, consent, approval, exemption or other action by or notice to
any court, administrative or governmental body, person, entity or any other
third party.

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3.                 
Release of Security Interest.  Upon the full
payment of the Obligations, this Agreement and Holder's security interest and
rights in and to the Collateral shall terminate.

4.                 
Further Assurances.  From time to time, at their own expense, the Obligor shall promptly
execute and deliver all further instruments and documents, and take all further
actions, that may be necessary or desirable, or that the Holder may reasonably
request, in order to perfect and protect the assignment and security interest
granted or purported to be granted hereby or to enable the Holder to exercise
or enforce its rights and remedies hereunder with respect to any of the
Collateral.  Without limiting the generality of the foregoing, the Obligor,
upon the Holder's demand, shall execute and file such financing or continuation
statements, or amendments thereto, and such other instruments or notices as may
be necessary or desirable, or as the Holder may request, in order to perfect
and preserve the pledges and security interests granted or purported to be
granted hereby.  The Obligor hereby irrevocably authorizes the Holder to file
one or more financing statements in whatever filing offices the Holder
considers appropriate.  Such financing statements may describe the collateral
covered thereby as being all of the assets of the Obligor (whether now owned or
hereafter acquired, whether now existing or hereafter created or arising and
wherever located) or using any other appropriate description the Holder elects.

5.                 
Event of Default.  For purposes of this Agreement, an "Event
of Default" shall be deemed to have occurred hereunder:

5.1.           
If an Event of Default shall occur as defined in the Note, or if
the Obligor shall fail for any reason or for no reason, to forthwith pay or
perform the Obligations when due without notice or demand by the Holder in the
manner and on the day required by the Note; or

5.2.           
If the Obligor should default in any other obligation set forth in
this Agreement.

Upon an Event of
Default, all of the obligations of the Obligor hereunder and in the Note shall
be immediately due and payable without any action on the part of the Holder,
and the Holder shall be entitled to seek and institute any and all remedies
available to it.  No remedy conferred under this Agreement upon the Holder is
intended to be exclusive of any other remedy available to the Holder, pursuant
to the terms of this Agreement or otherwise.  No single or partial exercise by
the Holder of any right, power or remedy hereunder shall preclude any other or
further exercise thereof.  The failure of the Holder to exercise any right or
remedy under this Agreement or otherwise, or delay in exercising such right or
remedy, shall not operate as a waiver thereof.  

6.                 
Remedies.  Upon the occurrence of the Event of
Default, the Holder may, at her sole discretion, provide written notice of such
Default (the "Default Notice") to the Obligor, whereupon Holder may
exercise all rights and remedies of a secured party with respect to such
property as may be available under the Uniform Commercial Code as in effect in
the State of Texas.    

7.                 
Notices.  Any
notices, consents, waivers or other communications required or permitted to be
given under the terms hereof must be in writing and will be deemed to have been
delivered:  (i) upon receipt, when delivered personally; (ii) upon receipt,
when sent by facsimile (provided confirmation of transmission is mechanically
or electronically generated and kept on file by the sending party); or (iii)
one (1) trading day after deposit with a nationally recognized overnight
delivery service, in each case properly addressed to the party to receive the
same.  The addresses and facsimile numbers for such communications shall be:

 

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  If to Obligor:

  	
  Home Solutions of
  America, Inc.

  
	
   

  	
  11850 Jones Road

  
	
   

  	
  Houston, Texas 77070

  
	
   

  	
  Attn: R. Andrew White,
  President

  
	
   

  	
  Facsimile No.: (281)
  970-9859

  
	
   

  	
   

  
	
   

  	
   

  
	
  If to the Holder:

  	
  The Vantage Group Ltd.

  
	
   

  	
  67 Wall Street, Suite 2211

  
	
   

  	
  New York, NY 10005

  
	
   

  	
  Facsimile No.: (212)
  785-3888

  

 

or at
such other address and/or facsimile number and/or to the attention of such
other person as the recipient party has specified by written notice given to
each other party three (3) business days prior to the effectiveness of such
change.  Written confirmation of receipt (i) given by the recipient of such
notice, consent, waiver or other communication, (ii) mechanically or
electronically generated by the sender's facsimile machine containing the time,
date, recipient facsimile number and an image of the first page of such
transmission or (iii) provided by a nationally recognized overnight delivery
service, shall be rebuttable evidence of personal service, receipt by facsimile
or receipt from a nationally recognized overnight delivery service in
accordance with clause (i), (ii) or (iii) above, respectively.

8.                 
Binding Effect.  All of the covenants and
obligations contained herein shall be binding upon and shall inure to the
benefit of the respective parties, their successors and assigns.

9.                 
Governing Law.  This Note shall be governed by and
construed in accordance with the laws of the State of Texas, without giving
effect to conflicts of laws thereof.  Venue for any dispute arising hereunder
shall be proper exclusively in Harris County, Texas.

10.             
Remedies Cumulative.  No remedy herein conferred upon any
party is intended to be exclusive of any other remedy, and each and every such
remedy shall be cumulative and shall be in addition to every other remedy given
hereunder or now or here-after existing at law, in equity, by statute, or
otherwise.  No single or partial exercise by any party of any right, power or
remedy hereunder shall preclude any other or further exercise thereof. 

11.             
Counterparts.  This Agreement may be executed in one or more
counterparts, including by facsimile, each of which shall be deemed an
original, but all of which together shall constitute the same instrument.

12.             
No Penalties.  No provision of this Agreement is to be
interpreted as a penalty upon any party to this Agreement.

 

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13.             
Court Costs and Attorneys' Fees.  If any action at law or
in equity, including an action for declaratory relief, is brought to enforce or
interpret the provisions of this Agreement, the prevailing party shall be
entitled to recover costs of court and reasonable attorneys' fees from the
other party or parties to such action, which fees may be set by the court in
the trial of such action or may be enforced in a separate action brought for
that purpose, and which fees shall be in addition to any other relief that may
be awarded.

[Remainder of page
intentionally left blank.]

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IN WITNESS WHEREOF, the parties hereto have duly executed this
Pledge and Security Agreement as of the date first above written. 

 

THE OBLIGOR:

 

P.W. STEPHENS, INC.

 

By:                                                                  

Name:                                                             

Title:                                                                 

 

 

THE HOLDER:

THE VANTAGE GROUP LTD.

 

By:                                                                  

Name:                                                             

Title:                                                                 

                                                                                    

 

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Exhibit 4.3    
    

SIXTH AMENDMENT TO  

1.    REGISTRATION RIGHTS AGREEMENT 

        This
Sixth Amendment to Registration Rights Agreement (this "Amendment") is entered into as of April 1, 2003 by and among Raining
Data Corporation, a Delaware corporation f/k/a Omnis Technology Corporation (the "Company") and the undersigned individuals and entities (each a
"Holder" and, collectively, the "Holders"). 

 
 

RECITALS    
    

        A.    The
Company and the Holders previously entered into that certain Registration Rights Agreement, dated as of December 4, 2000, as amended from time to time
thereafter, by and among the Company and the Holders (the "Registration Rights Agreement"). 

        B.    The
Company and the Holders desire to further amend the Registration Rights Agreement in order to modify Section 1.1 ("Mandatory Registration"), Section 1.2
("Effectiveness of Registration Statement"), Section 1.12 ("Assignment of Registration Rights") and to make certain other changes. 

 
 

AGREEMENT    
    

        NOW THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties agree as follows: 

        1.     Capitalized
terms used in this Amendment and not otherwise defined have the meanings given to them in the Registration Rights Agreement. 

        2.     Section 1.1
of the Registration Rights Agreement is hereby amended and restated in its entirety as follows: 

        "1.1
Mandatory Registration. If the Company shall receive a written request from the Holder that the Company effect any registration of the Registrable Securities, the Company will
(i) promptly give written notice of the proposed registration to any permitted assignee known to the Company, and (ii) as soon as practicable, file a Registration Statement on
Form S-3 (or other appropriate form available for use by the Company) as would permit or facilitate the sale and distribution of all or such portion of such Registrable Securities
as are specified in such request, together with all or such portion of the Registrable Securities of the Holders and/or any permitted assignee, as applicable, joining in such request as are specified
in a written request received by the Company within 15 days after receipt of such written notice from the Company. The Company may include in such Registration Statement any other securities
that the Company may determine in its discretion, subject to the consent of the Holders owning a majority of the Registrable Securities, which consent will not be unreasonably withheld." 

        3.     Section 1.2
of the Registration Rights Agreement is hereby amended and restated in its entirety as follows: 

        "1.2    Effectiveness
of the Registration Statement.    The Company will use its commercially reasonable efforts to cause the Registration Statement filed
pursuant to Section 1.1 above to be declared effective by the SEC as soon as practicable after filing (the "REQUIRED EFFECTIVE DATE"). The Company's commercially reasonable efforts will
include, but not be limited to, promptly responding to all comments received from the staff of the SEC. If the Company receives notification from the SEC that the Registration Statement will receive
no action or review from the SEC, then the Company will use its best efforts to cause the Registration Statement to be effective within five (5) business days after such SEC notification. Once
the Registration Statement is declared effective by 

1

 

the
SEC, the Company will use its commercially reasonable efforts to cause the Registration Statement to remain effective throughout the Registration Period, subject to the rights of the Company under
Section 1.14 hereof." 

        4.     Section 1.12
of the Registration Rights Agreement is hereby amended to add the following at the end of such section: 

        "Notwithstanding
the foregoing, no transferee or assignee of the Holder shall have the right to make the request for registration set forth in Section 1.1 unless agreed to by the
Company and the Holder." 

        5.     Section 2.5
of the Registration Rights Agreement is hereby amended and restated in its entirety to read as follows: 

        "2.5    Notices,
Etc.    All notices, requests, demands and other communications required or permitted to be given hereunder ("Notices") shall be in writing and
shall be delivered prepaid (a) by personal delivery, (b) by a nationally recognized overnight courier service, (c) by United States first class registered or certified mail return
receipt requested, or (d) by telefacsimile, using equipment that provides written confirmation of receipt, addressed to the other party at the address or facsimile number for such party
provided herein; and the date of notice shall be the earlier of (i) actual receipt of notice by any permitted means, or (ii) three (3) business days following dispatch by
overnight delivery service or the United States Mail; provided however any notice delivered by telefacsimile shall be effective only if the facsimile is legible and if a confirming copy is sent by any
other permitted means hereunder within ten (10) days after transmission. All Notices shall be addressed: (x) if to the Holder, at the Holder's address or telefacsimile number set forth
on the signature page hereof, or at such other address or number as the Holder shall have furnished to the Company in writing for such purpose, or (y) if to the Company, at its address or
telefacsimile number set forth on the signature page hereof, to the attention of the President of the Company, or at such other address or number as the Company shall have furnished in writing to the
Holder for such purpose, with a copy to: Wilson Sonsini Goodrich & Rosati, 650 Page Mill Road, Palo Alto, California 94304, Attention: Matthew Sonsini, Esq." 

        6.     The
Holder hereby waives any default or non-compliance by the Company with Section 1.1 of the Registration Rights Agreement as in effect prior to this
Amendment and the consequences thereof. 

        7.     Except
as amended hereby, all other provisions of the Registration Rights Agreement shall remain unmodified and in full force and effect. 

        8.     This
Amendment shall be governed by and construed in accordance with the laws of the State of California. 

        9.     Whenever
possible, each provision of this Amendment shall be interpreted in such manner as to be effective and valid under applicable law, but if any provision of this
Agreement shall be prohibited by or invalid under applicable law, such provision shall be ineffective only to the extent of such prohibition or invalidity, without invalidating the remainder of such
provision or the remaining provisions of this Amendment. 

        10.   This
Amendment may be executed in one or more counterparts, each of which shall be an original and all of which shall constitute one and the same agreement. 

        [The
remainder of this page is intentionally left blank] 

2

 

        The
undersigned have executed this Amendment as of the date first above written. 

	"COMPANY"	 
	
RAINING DATA CORPORATION	

 
	

By:	
 	

/s/  CARLTON H. BAAB      
 Name: Carlton H. Baab

Title: President and CEO	

 
	
"HOLDERS"	

 
	
Astoria Capital Partners, L.P.	

 
	By:	 	Astoria Capital Management, Inc., its general partner	 
	

By:	
 	

/s/  RICHARD W. KOE      
 Name: Richard W. Koe	

 
	
HARRISON H. AUGUR, KEOGH MP	

 
	

By:	
 	

/s/  DAVID A. FORH II      
 Name: David A. Forh II

Title: Operations Manager, Smith Barney	

 
	
ROBERT D. VAN ROIJEN	

 
	

By:	
 	

/s/  ROBERT VAN ROIJEN      
 Name: Robert van Roijen	

 

3

QuickLinks

Exhibit 4.3

RECITALS

AGREEMENT

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