Document:

EX-10.15

 

Exhibit
10.15

PATENT
SECURITY AGREEMENT

     This PATENT SECURITY AGREEMENT (this “Agreement”), dated as of March 25, 2008, is
between MONEYGRAM PAYMENT SYSTEMS, INC., a Delaware corporation (“Grantor”), and JPMORGAN
CHASE BANK, N.A., as Collateral Agent for the benefit of the Secured Parties (the “Collateral
Agent”).

W I T N E S S E T H:

     WHEREAS, reference is made to that certain Second Amended and Restated Credit Agreement dated
as of even date herewith by and among Holdco, the Borrower, the Administrative Agent and the
financial institutions so designated on the Commitment Schedule thereto (as amended, restated,
amended and restated, supplemented or otherwise modified from time to time, the “Credit
Agreement”);

     WHEREAS, Grantor has entered into that certain Amended and Restated Security Agreement of even
date herewith (as amended, restated, amended and restated, modified or supplemented from time to
time, the “Security Agreement”) with the Collateral Agent, for the benefit of the Secured
Parties, pursuant to which Grantor has granted to the Collateral Agent a security interest in
substantially all the assets of Grantor, including all right, title and interest of Grantor in, to
and under all now owned and hereafter acquired Patents, and all proceeds thereof, to secure the
payment of the Secured Obligations;

     WHEREAS, capitalized terms used but not defined herein are used in the manner provided in the
Security Agreement and the Credit Agreement, as applicable;

     WHEREAS, Grantor owns the registered and pending Patents listed on Schedule 1 annexed
hereto; and

     NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are
hereby acknowledged, Grantor does hereby grant to the Collateral Agent, for the benefit of the
Secured Parties, a continuing security interest in all of Grantor’s right, title and interest in,
to and under the following (all of the following items or types of property being herein
collectively referred to as the “Patent Collateral”), whether presently existing or
hereafter created or acquired:

	 	(1)	 	each Patent, including without limitation, each registered and pending Patent
referred to in Schedule 1 annexed hereto, together with any reissues,
continuations or extensions thereof; and

	 	(2)	 	all proceeds of the foregoing, including, without limitation, any claim by
Grantor against third parties for past, present or future infringement of any Patent,

-1-

 

	 	 	 	including, without limitation, any registered and pending Patent referred to in
Schedule 1 annexed hereto.

     The security interests are granted in furtherance, and not in limitation, of the security interests
granted to the Collateral Agent, for the benefit of the Secured Parties, pursuant to the Security
Agreement. Grantor hereby acknowledges and affirms that the rights and remedies of Collateral
Agent with respect to the security interest in the Patent Collateral made and granted hereby are
more fully set forth in the Security Agreement, the terms and provisions of which are incorporated
by reference herein as if fully set forth herein. In the event of any conflict between the terms
of this Agreement and the Security Agreement, the terms of the Security Agreement shall govern.

[signature page follows]

-2-

 

     IN WITNESS WHEREOF, Grantor has caused this Patent Security Agreement to be duly executed by
its duly authorized officer thereunto as of the date first written above.

	 	 	 	 	 	 	 
	 	 	 	 	MONEYGRAM PAYMENT SYSTEMS, INC.
	 

	 	 	 	By:	 	/s/ David J. Darrin
 

	 

	 	 	 	Name: 	 	David J. Darrin
 

	 

	 	 	 	Title: 	 	Executive Vice President and
Chief Financial Officer

 

	 
	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	Acknowledged:	 	 	 	 
	 
	 	 	 	 	 	 
	JPMORGAN CHASE BANK, N.A., as Collateral

Agent for the benefit of the Secured Parties	 	 	 	 
	 
	 	 	 	 	 	 
	By:

	 	/s/ Sabir Hashmy

 
	 	 	 	 
	Name: 
	 	Sabir Hashmy
 
	 	 	 	 
	Title:

	 	Vice President
 
	 	 	 	 

Signature Page to Trademark

Security AgreementEX-10.16

 

Exhibit
10.16

NOTWITHSTANDING ANYTHING HEREIN TO THE CONTRARY, THE LIEN AND SECURITY INTEREST GRANTED TO THE
SECOND PRIORITY COLLATERAL AGENT PURSUANT TO THIS AGREEMENT AND THE EXERCISE OF ANY RIGHT OR REMEDY
BY THE SECOND PRIORITY COLLATERAL AGENT HEREUNDER ARE SUBJECT TO THE PROVISIONS OF THE
INTERCREDITOR AGREEMENT DATED AS OF MARCH 25, 2008, AS THE SAME MAY BE AMENDED, SUPPLEMENTED,
MODIFIED OR REPLACED FROM TIME TO TIME (THE “INTERCREDITOR AGREEMENT”), AMONG JPMORGAN CHASE BANK,
N.A., AS FIRST PRIORITY REPRESENTATIVE, DEUTSCHE BANK TRUST COMPANY AMERICAS, A NEW YORK BANKING
CORPORATION, AS SECOND PRIORITY REPRESENTATIVE AND MONEYGRAM PAYMENT SYSTEMS WORLDWIDE, INC. IN
THE EVENT OF ANY CONFLICT BETWEEN THE TERMS OF THE INTERCREDITOR AGREEMENT AND THIS AGREEMENT, THE
TERMS OF THE INTERCREDITOR AGREEMENT SHALL GOVERN AND CONTROL.

SECOND PRIORITY PATENT SECURITY AGREEMENT

          This SECOND PRIORITY PATENT SECURITY AGREEMENT (this “Agreement”), dated as of March
25, 2008 between MONEYGRAM PAYMENT SYSTEMS, INC., a Delaware corporation (“Grantor”), and
DEUTSCHE BANK TRUST COMPANY AMERICAS, a New York banking corporation, as Collateral Agent for the
benefit of the Secured Parties (the “Second Priority Collateral Agent”).

W I T N E S S E T H:

     WHEREAS, Grantor has entered into a Second Priority Security Agreement of even date herewith
(as amended, restated, amended and restated, modified or supplemented from time to time, the
“Second Priority Security Agreement”) with the Second Priority Collateral Agent, for the
benefit of the Secured Parties, pursuant to which Grantor has granted to the Second Priority
Collateral Agent a security interest in substantially all the assets of Grantor, including all
right, title and interest of Grantor in, to and under all now owned and hereafter acquired Patents,
and all proceeds thereof, to secure the payment of the Second Priority Secured Obligations;

     WHEREAS, capitalized terms used but not defined herein are used in the manner provided in the
Second Priority Security Agreement and the Indenture, as applicable;

     WHEREAS, Grantor owns the registered and pending Patents listed on Schedule 1 annexed
hereto; and

     NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are
hereby acknowledged, Grantor does hereby grant to the Second Priority Collateral Agent, for the
benefit of the Second Priority Secured Parties, a continuing security interest in all of Grantor’s
right, title and interest in, to and under the following (all of the following items or
types of property being herein collectively referred to as the “Patent Collateral”),
whether presently existing or hereafter created or acquired:

 

 

	 	(1)	 	each Patent, including without limitation, each registered and pending Patent
referred to in Schedule 1 annexed hereto, together with any reissues,
continuations or extensions thereof; and
	 
	 	(2)	 	all proceeds of the foregoing, including, without limitation, any claim by
Grantor against third parties for past, present or future infringement of any Patent,
including, without limitation, any registered and pending Patent referred to in
Schedule 1 annexed hereto.

The security interests are granted in furtherance, and not in limitation of, the security interests
granted to the Second Priority Collateral Agent, for the benefit of the Second Priority Secured
Parties, pursuant to the Second Priority Security Agreement. Grantor hereby acknowledges and
affirms that the rights and remedies of Second Priority Collateral Agent with respect to the
security interest in the Patent Collateral made and granted hereby are more fully set forth in the
Second Priority Security Agreement, the terms and provisions of which are incorporated by reference
herein as if fully set forth herein. In the event of any conflict between the terms of this
Agreement and the Second Priority Security Agreement, the terms of the Second Priority Security
Agreement shall govern.

[signature page follows]

2

 

     IN WITNESS WHEREOF, Grantor has caused this Second Priority Patent Security Agreement to be
duly executed by its duly authorized officer thereunto as of the date first written above.

	 	 	 	 	 	 
	 	 	MONEYGRAM PAYMENT SYSTEMS, INC.	 
	 
	 	 	 	 	 
	 

	 	By:	 	/s/ David J. Parrin	 
	 

	 	 	 	 	 
	 

	 	Name:	 	David J. Parrin	 
	 

	 	 	 	 	 
	 

	 	Title:	 	Executive Vice President and Chief
Financial Officer	 
	 

	 	 	 	 

	 

	 	 	 	 	 
	Acknowledged:	 	 
	 
	 	 	 	 
	DEUTSCHE BANK TRUST COMPANY AMERICAS, as Collateral
Agent for the benefit of the Secured Parties
by DEUTSCHE BANK NATIONAL TRUST COMPANY	 	 
	 
	 	 	 	 
	By:

	 	/s/ Cynthia J. Powell	 	 
	 

	 	 	 	 
	Name:
	 	Cynthia J. Powell	 	 
	 

	 	 	 	 
	Title:
	 	Vice President	 	 
	 

	 	 	 	 
	 
	 	 	 	 
	By:

	 	/s/ David Contino	 	 
	 

	 	 	 	 
	Name:
	 	David Contino	 	 
	 

	 	 	 	 
	Title:
	 	Vice President	 	 
	 

	 	 	 	 

Signarure page to
second prority

Patent Security Areement

3EX-10.17

 

Exhibit 10.17

NOTWITHSTANDING ANYTHING HEREIN TO THE CONTRARY, THE LIEN AND SECURITY INTEREST GRANTED TO THE
SECOND PRIORITY COLLATERAL AGENT PURSUANT TO THIS AGREEMENT AND THE EXERCISE OF ANY RIGHT OR REMEDY
BY THE SECOND PRIORITY COLLATERAL AGENT HEREUNDER ARE SUBJECT TO THE PROVISIONS OF THE
INTERCREDITOR AGREEMENT DATED AS OF MARCH 25, 2008, AS THE SAME MAY BE AMENDED, SUPPLEMENTED,
MODIFIED OR REPLACED FROM TIME TO TIME (THE “INTERCREDITOR AGREEMENT”), AMONG JPMORGAN CHASE BANK,
N.A., AS FIRST PRIORITY REPRESENTATIVE, DEUTSCHE BANK TRUST COMPANY AMERICAS, A NEW YORK BANKING
CORPORATION, AS SECOND PRIORITY REPRESENTATIVE AND MONEYGRAM PAYMENT SYSTEMS WORLDWIDE, INC. IN
THE EVENT OF ANY CONFLICT BETWEEN THE TERMS OF THE INTERCREDITOR AGREEMENT AND THIS AGREEMENT, THE
TERMS OF THE INTERCREDITOR AGREEMENT SHALL GOVERN AND CONTROL.

SECOND PRIORITY PATENT SECURITY AGREEMENT

          This SECOND PRIORITY PATENT SECURITY AGREEMENT (this “Agreement”), dated as of March
25, 2008 between MONEYGRAM INTERNATIONAL, INC., a Delaware corporation (“Grantor”), and
DEUTSCHE BANK TRUST COMPANY AMERICAS, a New York banking corporation, as Collateral Agent for the
benefit of the Secured Parties (the “Second Priority Collateral Agent”).

W I T N E S S E T H:

     WHEREAS, Grantor has entered into a Second Priority Security Agreement of even date herewith
(as amended, restated, amended and restated, modified or supplemented from time to time, the
“Second Priority Security Agreement”) with the Second Priority Collateral Agent, for the
benefit of the Secured Parties, pursuant to which Grantor has granted to the Second Priority
Collateral Agent a security interest in substantially all the assets of Grantor, including all
right, title and interest of Grantor in, to and under all now owned and hereafter acquired Patents,
and all proceeds thereof, to secure the payment of the Second Priority Secured Obligations;

     WHEREAS, capitalized terms used but not defined herein are used in the manner provided in the
Second Priority Security Agreement and the Indenture, as applicable;

     WHEREAS, Grantor owns the registered and pending Patents listed on Schedule 1
annexed hereto; and

     NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are
hereby acknowledged, Grantor does hereby grant to the Second Priority Collateral Agent, for the
benefit of the Second Priority Secured Parties, a continuing security interest in all of Grantor’s
right, title and interest in, to and under the following (all of the following items or types of
property being herein collectively referred to as the “Patent Collateral”), whether
presently existing or hereafter created or acquired:

 

 

	 	(1)	 	each Patent, including without limitation, each registered and pending
Patent referred to in Schedule 1 annexed hereto, together with any reissues,
continuations or extensions thereof; and
	 
	 	(2)	 	all proceeds of the foregoing, including, without limitation, any claim by
Grantor against third parties for past, present or future infringement of any Patent,
including, without limitation, any registered and pending Patent referred to in
Schedule 1 annexed hereto.

The security interests are granted in furtherance, and not in limitation of, the security interests
granted to the Second Priority Collateral Agent, for the benefit of the Second Priority Secured
Parties, pursuant to the Second Priority Security Agreement. Grantor hereby acknowledges and
affirms that the rights and remedies of Second Priority Collateral Agent with respect to the
security interest in the Patent Collateral made and granted hereby are more fully set forth in the
Second Priority Security Agreement, the terms and provisions of which are incorporated by reference
herein as if fully set forth herein. In the event of any conflict between the terms of this
Agreement and the Second Priority Security Agreement, the terms of the Second Priority Security
Agreement shall govern.

[signature page follows]

2

 

     IN WITNESS WHEREOF, Grantor has caused this Second Priority Patent Security Agreement to be
duly executed by its duly authorized officer thereunto as of the date first written above.

	 	 	 	 	 	 
	 	 	MONEYGRAM INTERNATIONAL, INC.	 
	 
	 	 	 	 
	 

	 	By:	 	/s/ David J. Parrin
	 

	 	 	 	 
	 

	 	Name:	 	David J. Parrin
	 

	 	 	 	 
	 

	 	Title:	 	Executive Vice President and Chief
Financial Officer
	 

	 	 	 	 
                                         

Acknowledged:

DEUTSCHE BANK TRUST COMPANY AMERICAS, as Collateral

Agent for the benefit of the Secured Parties

by DEUTSCHE BANK NATIONAL TRUST COMPANY

	 	 	 	 	 
	 
	 	 	 	 
	By:
	 	/s/ Cynthia J. Powell	 	 
	 

	 	 	 	 
	Name:
	 	Cynthia J. Powell	 	 
	 

	 	 	 	 
	Title:
	 	Vice President	 	 
	 

	 	 	 	 
	 
	 	 	 	 
	By:
	 	/s/ David Contino	 	 
	 

	 	 	 	 
	Name:
	 	David Contino	 	 
	 

	 	 	 	 
	Title:
	 	Vice President	 	 
	 

	 	 	 	 

Signature Page to Second Priority

Patent Security Agreement

3

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