Document:

Continuing Pledge Agreement with Chase Equipment Leasing, Inc.

 Exhibit 10.27 
 Continuing Pledge Agreement 
 Dated as of April 28, 2006 
 Pledge. AMEDICA CORP., Tax Identification No. 84-1375299, whose address is stated below Grantor’s signature herein, and, if applicable, whose State
Organization Number is stated below Grantor’s signature herein (the “Pledgor”) pledges, assigns, transfers and grants to CHASE EQUIPMENT LEASING INC., whose address is 1111 Polaris Parkway, Suite A3, Columbus, Ohio 43240 (together
with its successors and assigns, the “Bank”) a continuing security interest in the property listed below under the heading “Schedule of Collateral” (the “Collateral) owned by the Pledgor, all Collateral in which the Pledgor
has rights or power to transfer rights and all Collateral in which the Pledgor later acquires ownership, other rights or the power to transfer rights to secure the payment and performance of the Liabilities. If the Collateral consists of
“investment property” or “financial assets,” as such terms are defined in the Uniform Commercial Code of Ohio, as in effect from time to time (the “UCC”), the grant includes any stock rights, stock dividends,
liquidating dividends, new securities, financial assets and other property to which the Pledgor may become entitled because it owns the Collateral and such property delivered to the Bank or to an intermediary designated by the Bank subject to the
control of the Bank to satisfy the requirements of the paragraph herein captioned “Loan Value of Collateral and Pledged JPMCB Deposits”. The Pledgor has transferred the securities to the Bank or other intermediary, as directed by the Bank,
that has entered into control agreements in form and substance satisfactory to the Bank. In the event the transfer is not complete, the Pledgor will complete it within ten (10) days. Collateral shall not include any common trust funds of the
Bank in which the Bank is prohibited by applicable law from taking a security interest. 
 SCHEDULE OF COLLATERAL. 
 Account Number 360 64 145 (including any successor account, howsoever numbered, “Account”) held at J.P. MORGAN SECURITIES INC. and all investment
property, financial assets, securities, securities entitlements, instruments, investments, cash, free credit balances, other funds and amounts and other assets of every nature and description at any time held in or credited to the Account; and

 Account Number 220-02513 RC1 (including any successor account, howsoever numbered, “Account”) held at BEAR, STEARNS & CO.
INC. and all investment property, financial assets, securities, securities entitlements, instruments, investments, cash, free credit balances, other funds and amounts and other assets of every nature and description at any time held in or
credited to the Account. 
 Collateral includes all substitutions, additions, renewals, investments, reinvestments, free credit balances, cash proceeds,
general intangibles, insurance, products and supporting obligations including but not limited to all interest, dividends, other proceeds, instruments and other property now or hereafter received, receivable or otherwise distributed in connection
with the sale, lease, license, exchange or other disposition of any Collateral. 
 Borrower. The term “Borrower” in this Pledge means each
and all of AMEDICA CORP. 

 Representations, Warranties and Covenants. The Pledgor represents, warrants and agrees with the Bank that until
this Pledge terminates and all Liabilities are paid in full, it owns and it will own the Collateral free and dear of any liens, security interests, assignments or other encumbrances. The Pledgor will not attempt to sell or assign the Collateral if
such sale or assign will cause a violation of any of the provisions of the paragraph herein captioned “Loan Value of Collateral and Pledged JPMCB Deposits” or create any lien, security interest, assignment or other encumbrance or
claim against it. The Pledgor agrees to reimburse the Bank, on demand, for any amounts paid or advanced by the Bank for the purpose of preserving all or any part of the Collateral. The Bank shall exercise reasonable care in the custody and
preservation of the Collateral to the extent required by applicable law. 
 The Pledgor represents, warrants and covenants with the Bank that until this
Pledge terminates and all Liabilities are paid in full no financing statement or similar record covering all or any part of the Collateral is on file in any public office, and no person or entity other than the Bank has control of the Collateral
unless the Bank has approved that riling and/or control in writing. From time to time at the Bank’s request, the Pledgor will execute one or more financing statements and control agreements in form and substance satisfactory to the Bank and
will pay the cost of filing them in all public offices or recording them with any intermediary where filing or recording is deemed by the Bank to be necessary or desirable. In addition, the Pledgor shall execute and deliver, or cause to be executed
and delivered, such other documents as the Bank may from time to time request to create, to perfect, to assure the continuing first priority of or to further evidence, the security interest created in the Collateral by this Pledge, including:
(a) a notice of security interest and/or a control agreement with respect to any Collateral from persons or entities considered necessary or desirable by the Bank, all in form and substance satisfactory to the Bank; (b) a notice to and
acknowledgement from and control agreement with any bailee or other person who maintains, possesses or controls any of the Collateral, all in form and substance satisfactory to the Bank: and (c) any consent to the assignment of proceeds of any
letter of credit, all in form and substance satisfactory to the Bank. 
 The Bank shall have the right now and at any time in the future, in its sole and
absolute discretion and without notice to the Pledgor: to (a) prepare, file and sign the Pledgor’s name on any proof of claim in bankruptcy or similar document against any owner of the Collateral and (b) to prepare, file and sign the
Pledgor’s name on any financing statement or similar record, notice of lien, control agreement, assignment or satisfaction of lien or similar document in connection with the Collateral. 
 The Pledgor represents and warrants to the Bank that the following statements are true and will remain true until the termination of this Pledge and payment in full of
all Liabilities (a) its principal residence or chief executive office is at the address shown above: (b) the Pledgor’s name as it appears in this Pledge is identical to the name of the Pledgor appearing in the Pledgor’s
organizational documents, as amended, including any trust documents; and (c) the State Organization Number, if any, shown above is correct. The Pledgor will not, without the Bank’s prior written consent, change (a) the Pledgor’s
name, (b) the Pledgees business organization, (c) the jurisdiction under which the Pledgor’s business organization is formed or organized, or (d) the address of the Pledgor’s chief executive office or principal residence or
of any additional places of the Pledgor’s business. 
  

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 Bank Appointed Attorney-in-Fact. The Pledgor authorizes and irrevocably appoints the Bank as the Pledgor’s
attorney-in-fact, to do any of the following without notice to the Pledgor or any other person or entity: to take any action and to execute or otherwise authenticate any record or other documentation that the Bank considers necessary or advisable to
accomplish the purposes of this Pledge, to exercise any rights under this Pledge and to perform any of the undersigned’s obligations under this Pledge including but not limited to the following: (a) to endorse and collect all checks,
drafts, other payment orders and instruments representing or included in, the Collateral or representing any payment, dividend or distribution relating to any Collateral; (b) to direct any securities or commodity intermediary or issuer of any
Collateral to comply with instructions originated by the Bank directing distribution of the Collateral without the undersigned’s further consent; (c) to transfer to or restyle any Collateral into the name of the Bank or the Bank’s
nominee or any broker-dealer that may be an affiliate of the Bank (including converting physical certificates to took-entry holdings); (d) to transfer to the account of the Bank with any Federal Reserve Bank as Collateral held in book entry
form with any Federal Reserve Bank; (e) to execute any control agreement or stock powers or other document of transfer; and (f) to execute any record reasonably believed necessary or appropriate by the Bank for compliance with laws, rules
or regulations applicable to any Collateral (including any documentation reasonably believed necessary by the Bank for compliance with Rule 144 or any other restrictions, laws, rules or regulations applicable to any Collateral hereunder that
constitutes restricted securities under the applicable securities laws) and to vote any and all securities or exercise any similar right with respect to any Collateral and the Bank is granted an irrevocable proxy to so vote on the undersigned’s
behalf. The Pledgor’s signature on this Pledge or other authentication of this Pledge shall constitute an irrevocable direction by the Pledgor to any bank, custodian, broker-dealer, any other securities intermediary or commodity intermediary or
other financial intermediary holding any Collateral or any issuer of any letters of credit to comply with the instructions or entitlement orders, as applicable of the Bank, without the further consent of the Pledgor or any other person or entity.
This appointment is Irrevocable and coupled with an interest and shall survive the death or disability of the Pledgor. 
 Loan Value of Collateral and
Pledged JPMCB Deposits. Pledgor agrees that at all times the amount of the Liabilities may not exceed the aggregate Loan Value of the Collateral and the Pledged JPMCB Accounts. The Bank retains the right to determine the eligibility of the
Collateral. “Loan Value” means: (a) the value assigned by the Bank from time to time, in its sole reasonable discretion, to each item of the Collateral; and (b) the principal amount of the Pledged JPMCB Deposits. “Pledged
JPMCB Deposits” means the accounts pledged as collateral security by Pledgor in favor of the Bank pursuant to the Assignment of Deposit Account No. 707540704 and Assignment of Deposit Account No. 20497139, each dated on or about the
date of this Pledge. If Pledgor violates the provisions of this paragraph (a “Loan Value Violation”), then, so long as there is no other violation of the provisions of this Pledge and no other default or event of default with respect to
any Liabilities or any agreement related to the Liabilities, the Bank’s rights and remedies for the Loan Value Violation shall be as follows; (a) to notify J.P. MORGAN SECURITIES INC. and/or BEAR, STEARNS & CO. INC. to freeze one
or more of the Accounts (the “Freeze Notice”) whereupon no further sales, purchases or withdrawals may be made by Pledgor from the affected Account for a period of 30 days; (b) to promptly notify Pledgor of any such Freeze Notice; and
(c) within said 30-day period after the Freeze Notice, to demand that Pledgor supplement the Collateral and/or the Pledged JPMCB Accounts so as to cure the Loan Value Violation. If Pledgor fails to cure the Loan Value Violation as set forth in

  

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clause (c) of this paragraph within the above-described 30-day cure period or if any other default or event of default with respect to any Liabilities
or any agreement related to the Liabilities during the above-described 30-day cure period, then the Bank shall have all rights and remedies provided herein and/or in any agreement related to the Liabilities. 
 Registration Rights. If any of the Collateral consists of securities not registered under the Securities Act of 1933, and the issuer proposes to register any of
its securities, the Pledgor will give the Bank notice of that fact. In addition, and at no cost to the Bank, the Pledgor will use its best efforts to induce the issuer to register the pledged securities so that they may be disposed of by public sate
or other public disposition. Upon the completion of registration, the Pledgor will deliver certificates without any restrictive legend in exchange for the unregistered securities. The Pledgor indemnifies and holds the Bank harmless against any loss,
claim, damage or liability arising out of the registration process, and will reimburse the Bank for any legal or other expenses incurred by the Bank as a result. 
 Voting Rights. Until the occurrence of a default or event of default with respect to any Liabilities or any agreement related to the Liabilities, the Pledgor may exercise all voting and consensual powers and rights pertaining to any
Collateral for all purposes not inconsistent with the terms of this Pledge and may receive and retain all dividends (other than stock or liquidating dividends) on the Collateral prior to any event of default or default. All dividends in stock or
property representing stock, and all subscription rights, warrants or other rights or options, all liquidating dividends or distributions, and all securities or other property received as a result of a merger or consolidation, will be Collateral and
must be delivered to the Bank or as instructed by the Bank. 
 Instructions Regarding the Collateral. The Bank may act upon any instructions given by
the Pledgor whether in writing or not, with regard to additions or substitutions or sale or other disposition of the Collateral and its proceeds. The Pledgor agrees that any additions to, substitutions for or proceeds of the Collateral that it
receives will be held for the Bank’s benefit and turned over to the Bank. The Pledgor also gives the Bank permission to have the Collateral or any part of it transferred to or registered in the Bank’s name or in the name of any other
person or business entity with or without designation of the capacity of that nominee, and will hold the Bank harmless from any liability or responsibility that might result. A carbon, photographic or other reproduction of this Pledge is sufficient
as, and can be filed as, a financing statement or other similar record. The Bank is irrevocably appointed the Pledgor’s attorney-in-fact to execute any financing statement or similar record on the Pledgor’s behalf covering the Collateral.
The Pledgor authorizes the Bank to file one or more financing statements or similar records related to the security interests created by this Pledge, and further authorizes the Bank, Instead of the Pledgor, to sign such financing statements.

 Default; Remedies. If any of the Liabilities are not paid at maturity, whether by acceleration or otherwise, or if a default by anyone occurs under
the terms of any agreement related to any of the Liabilities or if Pledgor violates any of the provisions of this Pledge, including, without limitation, the paragraph herein captioned “Loan Value of Collateral and Pledged JPMCB
Deposits”, then the Bank shall have all of the rights and remedies provided by law, in equity or this Pledge and the other agreements related to the Liabilities, including but not limited to the rights and remedies of a secured party under
the UCC. The Pledgor agrees and acknowledges 

  

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that because of applicable securities laws, the Bank may not be able to effect a public sale of the Collateral, and sales at a private sale may be on terns
and at a price less favorable than if the securities were sold at a public sale. The Pledgor agrees that all private sales made under these circumstances shall be construed to have been made in a commercially reasonable manner. Should an event of
default or a default occur, the Pledgor will pay to the Bank all costs reasonably incurred by the Bank for the purpose of enforcing its rights hereunder or to perform any obligation of the undersigned under this Pledge, to the extent not prohibited
by taw, including, without limitation: costs of foreclosure; costs of obtaining money damages; and a reasonable fee for the services of internal and outside attorneys employed or engaged by the Bank or its affiliates for any purpose related to this
Pledge, including, without limitation, consultation, drafting documents, sending notices or instituting, prosecuting or defending litigation or any proceeding. The Bank’s compliance with any applicable state or federal law requirements in
connection with the disposition of the Collateral will not adversely affect the commercial reasonableness of any sale of the Collateral. These rights and remedies shall be cumulative and not exclusive. if the Pledgor is entitled to notice, that
requirement will be met if the Bank sends notice at least ten (10) days prior to the date of sale, disposition or other event requiring notice, and such notice shall be deemed commercially reasonable. The proceeds of any sale shall be applied
first to costs, then toward payment of the Liabilities in any order of application, whether or not the Liabilities have been declared to be due and owing; provided that, to the extent any Liabilities consist of extensions of credit by the Issuance
of letters of credit or other like obligations of the Bank to third parties which have not been utilized, such proceeds shall be held by the Bank in a cash collateral account as security for the Liabilities. 
 Pledge. If the Pledgor is not liable for all or any part of the Liabilities, then the Pledgor agrees that: 
  

	1.	If any moneys become available from any source other than the Collateral that the Bank can apply to the Liabilities, the Bank may apply then in any manner it chooses, including but
not limited to applying them against obligations, indebtedness or liabilities which are not secured by this Pledge. 

  

	2.	The Bank may take any action against the Borrower, the Collateral or any other collateral for the Liabilities, or any other person or entity liable for any of the Liabilities.

  

	3.	The Bank may release the Borrower or anyone else from the Liabilities, either in whole or in part, or release the Collateral in whole or in part or any other collateral for the
Liabilities, and need not perfect a security interest in the Collateral or any other collateral for the Liabilities. 

  

	4.	The Bank does not have to exercise any rights that it has against the Borrower or anyone else, or make any effort to realize on the Collateral or any other collateral for the
Liabilities, or exercise any right of setoff. 

  

	5.	 Without notice or demand and without affecting the Pledgees obligations hereunder, from time to time, the Bank is authorized to: (a) renew, modify, compromise,
rearrange, restate, consolidate, extend. accelerate or otherwise change the time for payment of, or otherwise change the terms of the Liabilities or any part thereof, including increasing or 

  

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decreasing the rate of interest thereon; (b) release, either in whole or in part, the Borrower. and release, either in whole or in part, substitute or
add any one or more sureties, endorsers, or guarantors: (c) take and hold other collateral for the payment of the Liabilities, and enforce, exchange, substitute, subordinate, impair, waive or release any such collateral; (d) proceed
against the Collateral or any other collateral for the Liabilities and direct the order or manner of sale as the Bank in its discretion may determine; and (e) take any action against the Borrower, the Collateral or any other collateral for the
Liabilities, or any other person or entity liable for any of the Liabilities, and (f) apply any and all moneys or payments received by the Bank in connection with the Liabilities, or recoveries from the Collateral or any other collateral for
the Liabilities, in such order or manner as the Bank in its discretion may determine, including but not limited to applying them against obligations, indebtedness or liabilities which are not secured by this Pledge. 

  

	6.	The Pledgor’s obligations hereunder shall not be released, diminished or affected by (a) any act or omission of the Bank, (b) the voluntary or involuntary
liquidation, sale or other disposition of all or substantially all of the assets of the Borrower or any other obligor on the Liabilities, or any receivership, insolvency, bankruptcy, reorganization, or other similar proceedings affecting the
Borrower, any other obligor or any of their respective assets, (c) any change in the composition or structure of the Borrower or any other obligor on the Liabilities, including a merger or consolidation with any other person or entity, or
(d) any payments made upon the Liabilities. 

  

	7.	The Pledgor expressly consents to any impairment of the Collateral or any other collateral for the Liabilities, including, but not limited to, failure to perfect a security interest
in such collateral and any release, either in whole or in part, of the Collateral or any other collateral for the Liabilities, and such impairment or release shall not affect the Pledgor’s obligations hereunder. 

  

	8.	The Pledgor waives and agrees not to enforce any rights of subrogation, contribution or indemnification that it may have against the Borrower, any person or entity liable on the
Liabilities, or the Collateral, unfit the Borrower and the Pledgor have fully performed all their obligations to the Bank, even if those obligations are not covered by this Pledge. 

  

	9.	 The Pledgor waives (a) to the extent not prohibited by law, all rights and benefits under any laws or statutes regarding sureties, as may be amended,
(b) any right the Pledgor may have to receive notice of the following matters before the Bank enforces any of its rights: (i) the Bank’s acceptance of this Pledge, (ii) incurrence or acquisition of any Liabilities, (iii) any
credit that the Bank extends to the Borrower, (iv) collateral received or delivered, default by any party to any agreements related to the Liabilities or other action taken in reliance on this Pledge, and all notices and other demands of any
description: (v) diligence and promptness in preserving liability against any obligor on the Liabilities, and in collecting or bringing suit to collect the Liabilities from any obligor on the Liabilities or to pursue any remedy in the
Bank’s power to pursue; (vi) notice of extensions, renewals, modifications, rearrangements, restatements and substitutions of the Liabilities or any collateral for the Liabilities; (vii) notice of failure to pay any of the Liabilities
as they mature, any other default, adverse change in the financial condition of any obligor on the Liabilities, release or substitution of any collateral, subordination of the Bank’s 

  

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rights in any collateral, and every other notice of every kind that may lawfully be waived; (viii) any demand, intent to accelerate, diligence,
presentment, dishonor and protest, or (ix) any action that the Bank takes regarding the Borrower, any other person or entity, the Collateral, any other collateral for the Liabilities, or any of the Liabilities, which it may be entitled to
contractually, by law or in equity, (c) any right the Pledgor may have to require the Bank to proceed against the Borrower, any guarantor or other obligor of the Liabilities, the Collateral or any other collateral for the Liabilities, or to
pursue any remedy in the Bank’s power to pursue, or to exercise any right of setoff, (d) any defense based on any claim that the Pledgor’s obligations exceed or are more burdensome than those of the Borrower, (e) the benefit of
any statute of limitations affecting the Pledgor’s obligations hereunder or the enforcement hereof, (f) any defense arising by reason of any disability or other defense of the Borrower or by reason of the cessation from any cause
whatsoever (other than payment in full) of the obligation of the Borrower for the Liabilities, and (g) any defense based on or arising out of any defense that the Borrower may have to the payment or performance of the Liabilities or any portion
thereof, and (h) agrees not to enforce any rights of subrogation, contribution or indemnification that it may have against the Borrower, any person or entity liable on the Liabilities, or the Collateral, until the Borrower and the Pledgor have
fully performed all of their obligations to the Bank, even if those obligations are not covered by this Pledge. The Bank may waive or delay enforcing any of its rights without losing them. Any waiver affects only the specific terms and time period
stated in the waiver. 

  

	10.	The Pledgor agrees that to the extent any payment or transfer is received by the Bank in connection with the Liabilities, and all or any part of such payment or transfer is
subsequently invalidated, declared to be fraudulent or preferential, set aside or required to be transferred or repaid by the Bank or transferred to or paid over to a trustee, receiver or any other person or entity, whether under any bankruptcy act
or otherwise (any such payment or transfer is hereinafter referred to as a “Preferential Payment”), then this Pledge shall continue to be effective or shall be reinstated, as the case may be, and whether or not the Bank is in possession of
this Pledge or whether this Pledge has been marked paid, cancelled, released or returned to Pledgor, and, to the extent of the payment or repayment or other transfer by the Bank, the Liabilities or part thereof intended to be satisfied by the
Preferential Payment shall be revived and continued in full force and effect as if the Preferential Payment had not been made. if this Pledge must be reinstated, the Pledgor agrees to execute and deliver to the Bank any new pledges and agreements,
if necessary or if requested by the Bank, in form and substance satisfactory to the Bank, covering the Collateral. 

  

	11.	The Pledgor agrees to fully cooperate with the Bank and not to delay, impede or otherwise interfere with the efforts of the Bank to secure payment from the assets which secure the
Liabilities including actions, proceedings, motions, orders, agreements or other matters relating to relief from automatic stay, abandonment of property, use of cash collateral and sale of the Bank’s collateral free and clear of all liens.

  

	12.	 The Pledgor has (a) without reliance on the Bank or any information received from the Bank and based upon the records and information the Pledgor deems
appropriate, made an independent investigation of the Borrower, the Borrower’s business, assets, 

  

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operations, prospects and condition, financial or otherwise, and any circumstances that may bear upon those transactions, the Borrower or the obligations,
liabilities and risks undertaken pursuant to this Pledge; (b) adequate means to obtain from the Borrower on a continuing basis information concerning the Borrower and the Bank has no duty to provide any information concerning the Borrower or
other obligor on the Liabilities to the Pledgor, (c) full and complete access to the Borrower and any and all records relating to any Liabilities now or in the future owing by the Borrower; (d) not relied and will not rely upon any
representations or warranties of the Bank not embodied in this Pledge or any acts taken by the Bank prior to or after the execution or other authentication and delivery of this Pledge (including but not limited to any review by the Bank of the
business, assets, operations, prospects and condition, financial or otherwise, of the Borrower); and (e) determined that the Pledgor wilt receive benefit, directly or indirectly, and has or will receive fair and reasonably equivalent value, for
the grant of the interest in the Collateral to the Bank. By entering into this Pledge, the Pledgor does not intend: (i) to incur or believe that the Pledgor will incur debts that would be beyond the Pledgor’s ability to pay as those debts
mature; or (ii) to hinder, delay or defraud any creditor of the Pledgor. The Pledgor is neither engaged in nor about to engage in any business or transaction for which the remaining assets of the Pledgor are unreasonably small in relation to
the business or transaction, and any property remaining with the Pledgor after the execution or other authentication of this Pledge is not unreasonably small capital. 

 Without limiting any foregoing waiver, consent or agreement, the Pledgor further waives any and all benefits of any law, rule or statute limiting any deficiency upon the sale or foreclosure of the Collateral or of any
other collateral for the Liabilities, including Utah Code Annot. Sections 57-1-23 through 57-1-32, inclusive, and Utah Code Annot. Section 78-37-1, including any revision or replacement of such statutes hereafter enacted. 
 Without limiting any foregoing waiver, consent or agreement, the Pledgor further waives any and all benefits under Arizona Revised Statutes Section 12-1641 through
12-1646, inclusive, and Rule 17(f) of the Arizona Rules of Civil Procedure, including any revision or replacement of such statutes or rules hereafter enacted. 
 Without limiting any foregoing waiver, consent or agreement, the undersigned further waives all rights, if any, of the undersigned under Rule 31, Texas Rules of Civil Procedure, or Chapter 34 of the Texas Business and Commerce Code, or
Section 17.001 of the Texas Civil Practice and Remedies Code and to the extent the undersigned is subject to the Texas Revised Partnership Act (“TRPA”) or Section 152.306 of the Texas Business Organizations Code
(“BOC”), compliance by the Bank with Section 3.05(d) of TRPA and Section 152.306(b) of BOC. 
 Without limiting any foregoing waiver,
consent or agreement, the Pledgor waives any and all rights to any prior notice or prior opportunity for a hearing that the Pledgor may have under Sections 52-278a to 52-278n, inclusive, of the Connecticut General Statutes, as the same may be
amended, or under any similar law whether state, federal or constitutional, that may be hereafter enacted. the Pledgor further waives any requirement for the posting of a bond and any right to request a court to require the Bank to post a bond in
connection with any prejudgment remedy sought, it being the Pledgees intent that in the event of any legal action between the Pledgor and the Bank pertaining to this Pledge, the Bank may invoke any prejudgment remedy, without 

  

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providing the Pledgor with any prior notice or prior opportunity for a hearing and the Bank’s attorney is specifically authorized to issue a writ for
any prejudgment remedy without prior court order. The Pledgor acknowledges that it has made these waivers knowingly and voluntarily and after consideration of the ramifications of these waivers with its attorneys. 
 Representation by Pledgor. The Pledgor represents that the following are and will remain true until termination of this Pledge and payment in full of all
Liabilities: (a) the execution and delivery of this Pledge and the performance of the obligations it imposes do not violate any law, do not conflict with any agreement by which it is bound, or require the consent or approval of any governmental
authority or any third party; (b) this Pledge is a valid and binding agreement, enforceable according to its terms; and (c) all balance sheets, profit and loss statements, and other financial statements furnished to the Bank in connection
with the Liabilities are accurate and fairly reflect the financial condition of the organizations and persons to which they apply on their effective dates, Including contingent liabilities of every type, which financial condition has not changed
materially and adversely since those dates. Each Pledgor, other than a natural person, further represents that: (a) it is duly organized and validly existing under the laws of the state where it is organized and is in good standing in each
state where it is doing business: and (b) the execution and delivery of this Pledge and the performance of the obligations it imposes (i) are within its powers and have been duly authorized by all necessary action of its governing body;
and (ii) do not contravene the terms of its articles of incorporation or organization, its by-laws, or any agreement or document governing its affairs. 
 Notice. Any notices and demands under or related to this document shall be in writing and delivered to the intended party at its address stated herein, and if to the Bank, at its main office if no other address of the Bank is
specified herein, by one of the following means: (a) by harid, (b) by a nationally recognized overnight courier service, or (c) by certified mail, postage prepaid, with return receipt requested. Notice shall be deemed given:
(a) upon receipt if delivered by hand, (b) on the Delivery Day after the day of deposit with a nationally recognized courier service, or (c) on the third Delivery Day after the notice is deposited in the mail. “Delivery Day”
means a day other than a Saturday, a Sunday, or any other day on which national banking associations are authorized to be dosed. Any party may change its address for purposes of the receipt of notices and demands by giving notice of such change in
the manner provided in this provision. 
 Pledge Agreement In Addition to other Pledge Agreements. This Pledge is in addition to and not in
substitution or replacement of any other pledge agreement executed by the Pledgor in favor of the Bank, and the Bank’s rights under this Pledge and any such other pledge agreement are cumulative. 
 Indemnification. The Pledgor agrees to indemnify, defend and hold the Bank, -its parent companies, subsidiaries, affiliates, their respective successors and
assigns and each of their respective shareholders, directors, officers, employees and agents (collectively the “Indemnified Persons”) harmless from and against any and all loss, liability, obligation, damage, penalty, judgment, claim,
deficiency, expense, interest, penalties, attorneys’ fees (including the fees and expenses of attorneys engaged by the Indemnified Person at the Indemnified Person’s reasonable discretion) and amounts paid in settlement
(“Claims”) to which any Indemnified Person may become subject arising out of or relating to this Pledge or the Collateral, including any Claims 

  

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resulting from any Indemnified Person’s own negligence, except to the limited extent that the Claims are proximately caused by the Indemnified
Person’s gross negligence or willful misconduct. The indemnification provided for in this paragraph shall survive the termination of this Pledge and shall not be affected by the presence, absence or amount of or the payment or nonpayment of any
claim under, any insurance. 
 Miscellaneous. The Pledgor ‘s obligations to the Bank under this Pledge are not subject to any condition,
precedent or -subsequent, and shall not be released or affected by any change in the composition or structure of the Pledgor, including a merger or consolidation with any other person or entity. If more than one person or entity signs this Pledge as
Pledgor, their obligations, covenants, representations and warranties are joint and several and the Collateral includes any property that is owned by any one or more of the undersigned, individually or jointly with any other person or entity. If
more than one person or entity signs as the Pledgor or the Borrower, their obligations are joint and several arising out of or relating to this Pledge or the Collateral and each agreement representation, warranty and covenant shall be individual,
joint and several and the “Collateral” includes any property that is owned by any Pledgor or the Borrower individually or jointly with any other. This Pledge is binding on the Pledgor and its heirs, successors and assigns, and is for the
benefit of the Bank and its successors and assigns. The use of section headings does not limit the provisions of this Pledge. 
 Governing Law and Venue.
This Pledge is delivered in the State of Ohio and governed by Ohio law (without giving effect to its laws of conflicts). The Pledgor and the Bank agree that any legal action or proceeding against it with respect to any of its obligations under
this Pledge may be brought in any state or federal court located in such state, as the Bank in its sole discretion may elect By the execution and delivery of this agreement, the Pledgor and the Bank submit to and accepts, for itself and in respect
of its property, generally and unconditionally, the jurisdiction of those courts. The Pledgor and the Bank waive any claim that the State of Ohio is not a convenient forum or the proper venue for any such suit, action or proceeding. 
 WAIVER OF SPECIAL DAMAGES. THE PLEDGOR WAIVES. TO THE MAXIMUM EXTENT NOT PROHIBITED BY LAW, ANY RIGHT THE PLEDGOR MAY HAVE TO CLAIM OR RECOVER FROM THE BANK IN
ANY LEGAL ACTION OR PROCEEDING ANY SPECIAL, EXEMPLARY, PUNITIVE OR CONSEQUENTIAL DAMAGES. 
 JURY WAIVER. THE PLEDGOR AND THE BANK HEREBY VOLUNTARILY,
KNOWINGLY, IRREVOCABLY AND UNCONDITIONALLY WAIVE ANY RIGHT TO HAVE A JURY PARTICIPATE IN RESOLVING ANY DISPUTE (WHETHER BASED ON CONTRACT, TORT, OR OTHERWISE) AMONG THE PLEDGOR AND THE BANK ARISING OUT OF OR IN ANY WAY RELATED TO THIS PLEDGE OR ANY
OF THE TRANSACTIONS CONTEMPLATED BY THIS DOCUMENT. THIS PROVISION IS A MATERIAL INDUCEMENT TO THE BANK TO PROVIDE OR CONTINUE PROVIDING THE FINANCING EVIDENCED BY THE BANK DEBT. 
 Dated: April 28, 2006 
 Pledgor: 
  

 Page 10 

			
	AMEDICA CORP.
		
	By:	 	/s/ Eugene B. Jones
	Print Name:	 	Eugene B. Jones
	Title:	 	VP Finance/CFO

 State Organization Number: 5068805-0143 
 Address: 615 ARAPEEN DRIVE STE 302, SALT LAKE CITY, UT 84108 
  

 Page 11Security Agreement with Chase Equipment Leasing, Inc.

 Exhibit 10.27.1 
 SECURITY AGREEMENT 
 This Agreement is made as of June 30, 2006, by and between CHASE EQUIPMENT LEASING INC.
(“CELI”), with CELI’s mailing address being at 1111 Polaris Parkway, Suite A3 (OH1-1085), Columbus, Ohio 43240 and Debtor(s) identified below (individually and collectively, the “Debtor”). 
 Debtor means: AMEDICA CORP.  
 Lease/Loan Customer: AMEDICA CORP. 
  

	1.	Grant of Security Interest. For valuable consideration, receipt of which is hereby acknowledged, Debtor grants, pledges and assigns to CELI a security interest in all of
Debtor’s respective right, title and interest, purchase money as appropriate, in and to the property described below, now or hereafter arising or acquired, wherever located, together with any and all additions, accessions, parts, accessories,
substitutions and replacements thereof, now or hereafter installed in, affixed to or used in connection with said property, in all products and proceeds thereof, cash and non-cash, including, but not limited to, proceeds of notes, checks,
instruments, indemnity proceeds, or any insurance on such and any refund or rebate of premiums on such, and all books, records, ledger cards, files, correspondence, computer program, tapes, disks and related data processing software, owned by Debtor
or in which it has an interest that at any time evidences or contains information relating thereto or is otherwise necessary or helpful in the collection thereof or realization thereupon (“Collateral”), to secure the prompt payment and
complete performance of the Obligations (as hereinafter defined); provided, however, that the Collateral shall not include any Hazardous Materials (as hereinafter defined), except for any Hazardous Materials (a) which are and/or hereafter will
be handled, stored and contained in accordance with all applicable Hazardous Materials Laws (as hereinafter defined) and (b) which either (i) are and/or will be hereafter used or useful in the ordinary course of business of Debtor or
(ii) have a resale or salvage value which exceeds the cost of disposing of such Hazardous Materials. 

 The Collateral in
which this security interest is granted is all of the Debtor’s property described in EXHIBIT A attached hereto (and such terms as are used in Exhibit A shall be used in their broadest definitions and shall include, without limitation,
the definitions of such terms as are found in the Uniform Commercial Code that governs security interests in any such property). 
  

	2.	 Secured Obligations. This Agreement secures the full and prompt performance of all obligations which any Lease/Loan Customer identified above (hereinafter
individually and collectively called “Customer”) and/or any Debtor now have or may hereafter have to CELI, including, but not limited to, obligations under equipment leases, promissory notes, loan agreements and guaranties executed in
connection with equipment leases, promissory notes or loan agreements (including but not limited to all present and future leases, promissory notes, loan agreements and guaranties), and secures the prompt payment when due (whether at scheduled
maturity, upon acceleration or otherwise) of any and all sums, indebtedness, obligations and liabilities of whatsoever nature, due or to 

	 	 
become due, direct or indirect, absolute or contingent, joint or several, now or hereafter at any time owed or contracted by any Customer or any Debtor to
CELI and whether owing by any Customer or any Debtor alone or with one or more other customers, persons or other parties, and all costs and expenses of and incidental to collection of any of the foregoing, including reasonable attorneys’ fees
(all of the foregoing hereinafter called “Obligations”). It is Debtor’s express intention that this Agreement and the continuing security interest granted hereby, in addition to covering all present Obligations of any Customer and/or
any Debtor to CELI, shall extend to all future Obligations of any Customer and any Debtor to CELI, whether or not such Obligations are reduced or entirely extinguished and thereafter increased or are reincurred, and whether or not such Obligations
are specifically contemplated by any Debtor and CELI as of the date hereof. The absence of any reference to this Agreement in any documents, instruments or agreements evidencing or relating to any Obligations secured hereby shall not limit or be
construed to limit the scope of this Agreement. 

  

	3.	Location(s) of Collateral. The Collateral will be kept at the location(s) set forth in EXHIBIT B attached hereto (“Location”). 

  

	4.	Representations, Warranties and Covenants. Debtor represents, warrants, covenants and agrees as follows: 

  

	 	(a)	Debtor is and will continue to be (or, with respect to after acquired property, will be when acquired), the legal and beneficial owner of the Collateral free and clear of any lien,
security interest, mortgage, charge or encumbrance except for the security interest created by this Agreement and/or any Permitted Lien. “Permitted Lien” means any other security interest in any of the Collateral in favor of the
lienholder(s) that is/are identified on EXHIBIT C attached hereto and approved by CELI. Except as may be related to a Permitted Lien, no effective Uniform Commercial Code (“UCC”) financing statement or other instrument covering all
or any part of the Collateral is on file in any recording office, except those in favor of CELI; 

  

	 	(b)	Debtor will join with CELI in executing such financing statements, security agreements or other instruments in form satisfactory to CELI upon CELI’s request and, in the event
for any reason the law of any jurisdiction becomes or is applicable to the Collateral or any part thereof, or to any Obligation owed to CELI. Debtor agrees to execute and deliver all such instruments and to do all of such other things as may be
reasonably necessary or appropriate to preserve, protect and enforce the security interest and lien of CELI under the law of such jurisdiction to the extent such security interest would be protected under that jurisdiction’s UCC and will pay
all expenses of filing and releasing same in all public offices wherever filing is deemed necessary or desired by CELI; 

  

	 	(c)	The Collateral will nor be attached or affixed to real estate in such a manner that it would become a fixture thereto or an accession to other goods without prior disclosure,
notification to and approval by CELI in addition to the execution of an owner/mortgagee/landlord release/waiver in favor of CELI; 

  

 Page 2 of 11 

	 	(d)	Debtor at its sole expense shall keep each item of Collateral insured against all risks of loss or damage from every cause whatsoever for an amount not less than the greater of the
full replacement value or the original cost of acquiring such item of Collateral. Debtor at its sole expense shall carry public liability and property damage insurance in amounts satisfactory to CELI protecting Debtor and CELI from liabilities for
injuries to persons and damage to property of others relating in any way to the Collateral. Debtor at its sole expense shall carry environmental risk insurance should any of the collateral include Hazardous Materials. All insurers shall be
reasonably satisfactory to CELI Debtor shall deliver to CELI satisfactory evidence of such coverage. Proceeds of any insurance covering damage or loss of the Collateral shall be payable to CELI as loss payee and shall, at CELI’s option, be
applied toward (a) the replacement, restoration or repair of the Collateral, or (b) payment of the obligations of Debtor under the Obligations. Proceeds of any public liability or property insurance shall be payable first to CELI as
additional insured to the extent of its liability, then to Debtor. Debtor hereby appoints CELI as Debtor’s attorney-in-fact with full power and authority in the place of Debtor and in the name of Debtor or CELI to make claim for, receive
payment of, and sign and endorse all documents, checks or drafts for loss or damage under any such policy. Each insurance policy will require that the insurer give CELI at least 30 days prior written notice of any cancellation of such policy and
will require that CELI’s interests be continued insured regardless of any act, error, omission, neglect or misrepresentation of Debtor. The insurance maintained by Debtor shall be primary without any right of contribution from insurance which
may be maintained by CELI. If Debtor does not keep the Collateral insured as required herein and/or fails to supply CELI with evidence of that insurance, CELI shall have the right, in its sole discretion, to obtain insurance in amounts sufficient to
fully protect its interest, without notifying Debtor. Debtor agrees that CELI shall have the right, in its sole discretion, to determine the manner in which Debtor shall reimburse CELI for the premium for such insurance, including but not limited to
(a) requiring Debtor to immediately reimburse CELI for the premium and other costs it incurs or (b) adding that amount directly to the principal balance of any of the Obligations. Debtor will pay interest on any amount added to the
principal balance at the highest rate set forth in any of such Obligation(s); 

  

	 	(e)	Debtor will pay promptly when due all taxes, assessments and governmental charges upon or against Debtor, the Collateral or the property or operations of Debtor, in each case before
same becomes delinquent and before penalties accrue thereon, unless and to the extent that same are being contested in good faith by appropriate proceedings. At its option, CELI may discharge taxes, liens or security interests or other encumbrances
at any time placed on the Collateral and may pay for maintenance and preservation of the Collateral, all at Debtor’s expense; 

  

	 	(f)	 Debtor agrees it will, at its sole expense. (a) repair and maintain the Collateral in good condition and working order and supply and install all replacement
parts or other devices when required to so maintain the Collateral or when required by 

  

 Page 3 of 11 

	 	 
applicable law or regulation, which parts or devices shall automatically become part of the Collateral; (b) use and operate the Collateral in a careful
manner in the normal course of its business and only for the purposes for which it was designed in accordance with the manufacturer’s warranty requirements, and comply with all laws and regulations relating to the Collateral, and obtain all
permits or licenses necessary to install, use or operate the Collateral; and (c) make no alterations, additions, subtractions, upgrades or improvements to the Collateral without CELI’s prior written consent, but any such alterations,
additions, upgrades or improvements shall automatically become part of the Collateral. The Collateral will not be used or located outside of the United States. 

  

	 	(g)	Debtor will, in the event of appropriation or taking of all or any part of the Collateral, give CELI prompt written notice thereof. CELI shall be entitled to receive directly, and
Debtor shall promptly pay over to CELI, any awards or other amounts payable with respect to such condemnation, requisition or other taking and in its sole discretion may apply the proceeds as it deems best without regard to whether an Event of
Default has or has not occurred; 

  

	 	(h)	At least thirty (30) days prior to the occurrence of the event, Debtor will deliver to CELI written notice of any addition change in Debtor’s name, identity or legal
structure; 

  

	 	(i)	Debtor will defend the Collateral against all claims and demands of all persons at any time claiming the same or an interest therein; 

  

	 	(j)	Debtor will from time to time execute and deliver to CELI such lists, descriptions and designations of Collateral as CELI may require to identify the nature, extent and location of
the Collateral; 

  

	 	(k)	 Debtor is in material compliance with all Federal, State and local laws, statutes, ordinances, regulations, rulings and interpretations relating to industrial
hygiene, public health or safety, environmental conditions, the protection of the environment, the release, discharge, emission or disposal to air, water, land or ground water, the withdrawal or use of ground water or the use, handling, disposal,
treatment, storage or management of or exposure to Hazardous Materials (“Hazardous Materials Laws”), the violation of which would have a material effect on its business, its financial condition or the Collateral. The term “Hazardous
Materials” means any flammable materials, explosives, radioactive materials, pollutants, toxic substances, hazardous water, hazardous materials, hazardous substances, polychlorinated biphenyls, asbestos, urea formaldehyde, petroleum (including
its derivatives, by-products or other hydrocarbons) or related materials or other controlled, prohibited or regulated substances or materials, including, without limitation, any substances defined or listed as or included in the definition of
“hazardous substances”, “hazardous wastes”, “hazardous materials”, “pollutants” or “toxic substances” under any Hazardous Materials Laws. Debtor has not received any written or oral communication or
notice from 

  

 Page 4 of 11 

	 	 
any judicial or governmental entity nor is it aware of any investigation by any agency for any violation of any Hazardous Materials Law;

  

	 	(l)	All representations, warranties, covenants and agreements set forth herein and all information furnished by Debtor concerning the Collateral or otherwise in connection with the
Obligations, shall be at the time same is furnished, accurate, correct and complete in all material respects as of the date hereof, on the date upon which Debtor acquires any of the Collateral or any rights therein not presently acquired or existing
and shall continue until the Obligations are paid in full. 

  

	5.	Appointment of Attorney-in-Fact. Debtor hereby irrevocably appoints CELI or its designee as Debtor’s attorney in fact, with full authority in the place instead of
Debtor, from time to time in CELI’s discretion prior to, upon, during, and after an Event of Default, to take any action and to execute any instrument which CELI may deem necessary or advisable to accomplish the purposes of this Agreement,
including without limitation, (a) to perfect and continue to perfect the security interests created by this Agreement; (b) to ask, demand, collect or sue for, recover, compound, receive and give acquittance in receipts for any monies due
or become due under or in respect for any Collateral; (c) to receive, endorse and collect any drafts or other instruments, documents and chattel paper, in connection with the Collateral; and (d) to file any claims or take any action or
institute any proceeding which CELI may deem necessary or desirable for the collection of any Collateral or otherwise to enforce the rights of CELI in the Collateral. 

  

	6.	Events of Default. The following events shall be “Events of Default” under this Agreement: (a) default by Debtor in performance of any covenant or agreement
herein; (b) any warranty, representation or statement made or furnished to CELI by or on behalf of Debtor in connection with this Agreement or to induce CELI to make a loan or extend other credit to Debtor, proving to have been false in any
material respect when made or furnished; (c) default by Debtor or any other obligor in performance of any covenant or agreement contained in any Obligation; (d) default by Debtor or any other obligor in performance of any covenant or
agreement contained in any letter or agreement executed in conjunction with any Obligation; (e) death, dissolution, termination of existence, insolvency, business failure, appointment of a receiver of any part of the property of, assignment for
the benefit of creditors by or the commencement of any proceeding under any bankruptcy or insolvency laws by or against Debtor or any guarantor or surety for Debtor; (f) any uninsured loss, theft, damage or destruction of the Collateral;
(g) the making of any levy, seizure or attachment of any Collateral; (h) refusal to surrender the Collateral as herein above provided; or (i) if CELI shall for any reason deem itself insecure as to the prospect of payment of any
Obligation. 

  

	7.	Rights upon Default. If any Event of Default shall occur, then: 

  

	 	(a)	CELI may, at its option and without notice, declare the unpaid balance of any or all of the Obligations immediately due and payable and this Agreement and any or all of the
Obligations in default; 

  

 Page 5 of 11 

	 	(b)	All payments received by Debtor under or in connection with any of the Collateral shall be held by Debtor in trust for CELI, shall be segregated from other funds of Debtor and shall
forthwith upon receipt by Debtor be turned over to CELI in the same form as received by Debtor (duly endorsed by Debtor to CELI, if required). Any and all such payments so received by CELI (whether from Debtor or otherwise) may, in the sole
discretion of CELI, be held by CELI, or then or at any time thereafter be applied in whole or in part by CELI against, all or any part of the Obligations in such order as CELI may elect; 

  

	 	(c)	CELI shall have the rights and remedies of a secured party under this Agreement, under any other instrument or agreement securing, evidencing or relating to the Obligations and
under the UCC as adopted in the state where CELI’s principal office is located or other applicable laws. Without limiting the generality of the foregoing, CELI shall have the right to take possession of the Collateral in full or in part and for
that purpose CELI may enter upon any premises on which the Collateral may be situated and remove the Collateral therefrom; 

  

	 	(d)	Without demand of performance or other demand, advertisement or notice of any kind (except the notice(s) specified below regarding the time and place of public sale or disposition
or time after which a private sale or disposition is to occur) to Debtor, any Obligor or any other person or entity (all and each of which demands, advertisements and/or notices are hereby expressly waived), CELI may forthwith collect, receive,
appropriate and realize upon the Collateral, in full or in any part thereof, may abandon, not claim or not take possession of any Collateral, and/or may forthwith sell, lease, assign, give an option or options to purchase or sell or otherwise
dispose of and deliver the Collateral (or contract to do so), or any part thereof, in one or more parcels at public or private sale(s) at any of CELI’s offices or elsewhere at such price(s) as CELI may determine, for cash or on credit or for
future delivery without assumption of any credit risk. CELI shall have the right upon any public sale(s), and, to the extent permitted by law, upon any such private sale(s), to purchase the whole or any part of the Collateral so sold, free of any
right or equity of redemption of Debtor; 

  

	 	(e)	Debtor, at CELI’s request, will assemble the Collateral and make it available to CELI at such place(s) as CELI may reasonably select, whether at Debtor’s place(s) of
business and/or the Location of Collateral or elsewhere. Debtor further agrees to allow CELI to use or occupy Debtor’s place(s) of business and/or Location of Collateral, without charge, for the purpose of effecting CELI’s remedies in
respect to the Collateral; 

  

	 	(f)	CELI shall apply the net proceeds of any such collection, recovery, receipt, appropriation, realization or sale, after deducting all reasonable costs and expenses of every kind
incurred in connection therewith or incidental to the care or safekeeping of any or all of the Collateral or in any way relating to the rights of CELI hereunder, including attorneys’ fees and legal expenses, to the payment in whole or in part
of the Obligations, in such order as CELI may elect, and only after or applying over such net proceeds and after the payment by CELI of any other amount required by any provision of law, need CELI account for the surplus, if any, to Debtor;

  

 Page 6 of 11 

	 	(g)	To the extent permitted by applicable law, Debtor waives all claims, damages and demands against CELI arising out of the repossession, retention, sale or disposition of the
Collateral; 

  

	 	(h)	Debtor agrees that CELI need not give more than ten (10) calendar days’ notice, addressed to Debtor at Debtor’s mailing address set forth above, of the time and place
of any public sale or of the time after which a private sale may take place and that such notice is reasonable notification of such matters; and 

  

	 	(i)	Debtor shall remain liable for any deficiency if the proceeds of any sate or disposition of the Collateral are insufficient to pay all amounts to which CELI is entitled.

  

	8.	Processing of Collateral After an Event of Default. Debtor hereby agrees that CELI or its designee may do whatever CELI in its sole discretion deems to be commercially
reasonable to prepare any Collateral for disposition and to dispose of any Collateral, including without limitation operating any of Debtor’s manufacturing or other processes relating to the Collateral and using patents, copyrights, trademarks,
trade names, trade secrets, rights under manufacturer’s warranties, and the like relating to or affecting such processes or the Collateral and disposition thereof, and that Debtor shall not do anything which would restrict CELI’s right so
to act. CELI may transfer Collateral into its name or that of a nominee and receive the dividends, royalties or income thereof. CELI shall have no duty as to the collection or protection of the Collateral or any income therefrom, nor as the
preservation of rights against prior parties, not as to the preservation of any right pertaining thereto. 

  

	9.	Construction of Rights and Remedies and Waiver of Notice and Consent. Unless otherwise expressly provided herein, (a) any right or remedy of CELI may be pursued without
notice to or further consent of Debtor, both of which Debtor hereby expressly waives; (b) each right or remedy is distinct from but cumulative to each other right or remedy and may be exercised independently of concurrently with, or
successively to any other right and remedy; (c) no extension(s) of time and/or modification(s) of amortization of any Obligation shall release the liability of or bar the availability of any right or remedy against Debtor, and CELI shall not be
required to commence proceedings against Debtor or to extend time for payment or otherwise to modify amortization of any Obligation; and (d) CELI has the right to proceed at its election against any or all of the Collateral, against all such
property together or against any items thereof from time to time, and not action against any item(s) of property shall bar subsequent actions against any other item(s) of property. 

  

	10.	 Extensions and Compromises. With respect to any Collateral or any Obligation, Debtor assents to all extensions or postponements to the time of payment
thereof or any other indulgence in connection therewith, to each substitution, exchange or release of Collateral, to the release of any party primarily or secondarily liable, to the acceptance of 

  

 Page 7 of 11 

	 	 
partial payment thereof or to the settlement or compromise thereof, all in such matter and such time or times as CELI may deem advisable. No forbearance in
exercising any right or remedy on any one or more occasions shall operate as a waiver thereof on any future occasion; and no single or partial exercise of any right or remedy shall preclude any other exercise thereof or the exercise of any other
right or remedy. 

  

	11.	Indemnity and Expenses. (a) Debtor agrees to indemnity CELI from any and all claims, losses and liabilities growing out of or resulting from this Agreement;
(b) Debtor will upon demand pay or reimburse CELI, as the case may be, the amount of any and all expenses, including fees and disbursements of counsel, experts and agents, which CELI may incur in connection with, (i) the administration of
this Agreement; (ii) the custody, preservation, use or operation of, or the sale of, collections from, or other realization upon any Collateral; (iii) the exercise or enforcement of any of the rights of CELI hereunder; or (iv) the
failure by Debtor to perform or observe any of the provisions hereof. Upon Debtor’s failure to promptly pay any said amount, CELI may add said amount to the principal amount owed on any Obligation and charge interest on the same at the rate of
interest as set forth in said Obligation; (c) Debtor shall fully and promptly pay, perform, discharge, defend, indemnify and hold harmless CELI from any and all claims, orders, demands, causes of action, proceedings, judgments, or suits and all
liabilities, losses, costs or expenses (including, without limitation, technical consultant fees, court costs, expenses paid to third parties and reasonable legal fees) and damages arising out of, or as a result of (i) any release, discharge,
deposit, dump, spill, leak or placement of any Hazardous Material into or on any Collateral or property owned, leased, rented or used by Debtor (the “Property”) at any time; (ii) any contamination of the soil or ground water of the
Property or damage to the environment and natural resources of the Property or the result of actions whether arising under any Hazardous Materials Law, or common law; or (iii) any toxic, explosive or otherwise dangerous Hazardous Materials
which have been buried beneath or concealed with the Property. The indemnities set forth in this paragraph shall survive termination of this Agreement and shall be effective for the full dollar amount of any said cost, expense, etc., regardless of
the actual dollar amount of any Obligation(s). 

  

	12.	 Miscellaneous. (a) Any notice, statement, request, demand, consent, or other document required to be given hereunder (any of which may be referred to as
“notice”) by either party shall be in writing and shall be delivered personally or by certified or registered mail, postage prepaid, return receipt requested, to the last known address of said party. When personality delivered, any notice
shall be deemed given when actually received. Except as otherwise provided herein, a notice shall be deemed given when mailed. Any mailed notice given pursuant to this section shall be deemed reasonable and shall be effective, regardless of whether
actually received. (b) This Agreement shall be construed and interpreted under the laws of the State of Ohio. (c) This Agreement shall be binding upon Debtor, Debtor’s personal representatives, heirs, successors and assigns, as the
case may be, and shall be binding upon the inure to the benefit of CELI and its successors and assigns. Debtor cannot assign this Agreement. (d) This Agreement may be amended, but only by a written amendment signed by CELI and Debtor.
(e) If any provisions of this Agreement or the application of any provision to any party or circumstance shall, to any extent, be adjudged invalid or unenforceable, the application of the remainder of such 

  

 Page 8 of 11 

	 	 
provision to such party or circumstance, the application of such provision to other parties or circumstances, and the application of the remainder of this
Agreement shall not be affected thereby. (f) The headings contained in this Agreement have been inserted for convenience of reference only and are not to be used to interpreting this Agreement. (g) Where appropriate, the number of all
words in this Agreement shall be both singular and plural and the gender of all pronouns shall be masculine, feminine, neuter, or any combination thereof. (h) A carbon, photographic or other reproduction of this Agreement or a financing
statement shall be sufficient as a financing statement and may be filed as such whenever necessary or desirable, in CELI’s opinion, to perfect the security interest granted by this Agreement. (i) CELI may correct patent errors herein, may
fill in any blank spaces herein and may date this Agreement. (j) If more than one signer executes this instrument, the word “Debtor” as used herein shall be deemed to include all such signers, and all of the warranties,
representations, covenants and obligations hereof shall be joint and several of and for all such signers. (k) This Agreement shall take effect when signed by Debtor. (1) Time is of the essence of all requirements of Debtor hereunder.

 ALL PARTIES TO THIS AGREEMENT, INCLUDING DEBTOR AND CELI; IRREVOCABLY CONSENT TO THE JURISDICTION AND VENUE OF ANY STATE OR FEDERAL
COURT IN FRANKLIN COUNTY, OHIO, AND WAIVE ALL RIGHTS TO TRIAL BY JURY, IN ANY ACTION, PROCEEDING OR COUNTERCLAIM BROUGHT BY ANY PARTY AGAINST ANY OTHER PARTY ON ANY MATTER WHATSOEVER ARISING OUT OF, IN CONNECTION WITH OR IN ANYWAY RELATED TO THIS
AGREEMENT. 
  

									
	 AMEDICA CORP.
 (Debtor)
	 		 	Accepted and Agreed to:
			
		 		 	CHASE EQUIPMENT LEASING INC.
					
	By:	 	Eugene B. Jones	 		 	By:	 	/s/ Mary Short
	Title:	 	VP- Finance	 		 	Title:	 	Funding Manager
	Address:	 	615 Arapeen Drive, Suite 302	 		 		 	
		 	Salt Lake City, UT 84108	 		 		 	
	Witness:	 	Linda L. Lamoreaux	 		 		 	

  

 Page 9 of 11 

 EXHIBIT A 
 Description of Collateral 
 All of the property of Amedica Corp. (“Debtor”) described below, now or at any time
hereafter owned or acquired by Debtor, wherever located, whether in possession of Debtor, warehousemen, bailees or any other person and whether located on Debtor’s premises or elsewhere and all replacements, substitutions, attachments,
accessions and additions to any such property of Debtor together with all Proceeds (all of the foregoing referred to, collectively, as the “Collateral”). “Proceeds” shall mean whatever is received or receivable when any of the
Collateral is (or proceeds thereof are) sold, leased, collected, exchanged or otherwise disposed of, whether such disposition is voluntary or involuntary, including, without limitation, (a) all cash and non-cash proceeds and products of any of
the foregoing, including all monies and deposit accounts, and (b) all accounts, chattel paper, instruments, general intangibles and rights to payment of every kind now or at any time hereafter arising out of any such sale, lease, collection,
exchange or other disposition of any of the foregoing. 
 1. All equipment, tools, machinery, furnishings, furniture, and other goods and fixtures (and all
manufacturer’s manuals and maintenance books and records relating to any of the foregoing) and all improvements, replacements, substitutions, attachments, accessions and additions thereto. 
  

 Page 10 of 11 

 EXHIBIT B 
 Permitted Locations of Collateral 
 560 Arapeen Drive, Suite 100 
 Salt Lake City, UT 84108 
 Salt Lake County

  

 Page 11 of 11

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