Document:

Stock Pledge, dated September 19, 2005

 Exhibit 10.43 
  
 STOCK PLEDGE 
  
 This STOCK PLEDGE, dated as of September 19, 2005, is entered into by and between BANK OF AMERICA, N.A. as agent (“Agent”) for the
Lenders, and SPANSION LLC, a Delaware limited liability company (“Pledgor”), in light of the following: 
  
 R E C I T A L S 
  
 WHEREAS, Pledgor, Agent and certain other financial institutions signatory thereto (“Lenders”) are currently entering into that certain Credit
Agreement, of even date herewith (as amended, supplemented, or otherwise modified from time to time, the “Credit Agreement”); 
  
 WHEREAS, Pledgor is the record and beneficial owner of certain securities identified on Schedule A attached hereto issued by each domestic
corporation listed on such Schedule (each a “Domestic Corporation”), which Pledgor is willing to pledge to Agent for the ratable benefit of Lenders as further security for Pledgor’s obligations under the Credit Agreement and the other
Loan Documents; and 
  
 WHEREAS, pursuant to the terms of the
Credit Agreement, Pledgor and Agent are entering into this Agreement as additional security for the Obligations. 
  
 NOW, THEREFORE, in consideration of the mutual promises, covenants, conditions, representations, and warranties hereinafter set forth, and for other good
and valuable consideration, the parties hereto agree as follows: 
  
 A G R E E M E N T 
  
 1. DEFINITIONS AND
CONSTRUCTION. 
  
 1.1
Definitions. All initially capitalized terms used but not defined in this Agreement shall have the meanings set forth in the Credit Agreement. In addition, the following terms shall have the following meanings: 
  
 “Agreement” means this Stock Pledge, any
concurrent or subsequent exhibits or schedules hereto, and any extensions, supplements, amendments, or modifications to or in connection with this Stock Pledge, or to any such schedules or exhibits. 
  
 “Bankruptcy Code” means Title 11 of the
United States Code (11 U.S.C. § 101 et seq.), as amended or supplemented from time to time, and any successor statute, and any and all rules issued or promulgated in connection therewith. 
  
 “Code” means the Uniform Commercial Code
(or any revision, amendment, or successor statute), as in effect from time to time, of the State of California. 
  

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 “Collateral” means all of the following: 
  
 (a) 100% of the presently existing and hereafter arising
issued and outstanding shares of capital stock of each of the Domestic Corporations owned by Pledgor and listed on Schedule A (collectively, the “Domestic Shares”) and the certificates representing the Domestic Shares; 

 
 (b) 100% of Pledgor’s presently existing and
hereafter arising stock subscription warrants, stock options, or other rights to purchase capital stock and all rights represented thereby of each Domestic Corporation (collectively, the “Domestic Options”); 
  
 (c) The proceeds of all of the foregoing, including, without
limitation, any and all dividends, cash, instruments, and other property from time to time received, receivable, or otherwise distributed in respect of or in exchange for any of the Shares or the Options (collectively, the “Proceeds”).

  
 “Event of Default” means an
Event of Default under the Credit Agreement. 
  
 “Obligations” means all Obligations under the Credit Agreement and all of the present and future obligations of Pledgor hereunder. 
  
 “33 Act” means the Securities Act of 1933, as amended and supplemented from time to time, and any successor statute, and
any and all rules promulgated in connection therewith. 
  
 1.2 Construction. Unless the context of this Agreement clearly requires otherwise: (a) references to the plural include the singular and references to the singular include the plural; (b) references to any gender include the
other gender; (c) the terms “include” and “including” are not limiting; and (d) the term “or” has the inclusive meaning represented by the phrase “and/or.” The terms “hereof,” “herein,”
“hereby,” and “hereunder,” and other similar terms in this Agreement, refer to this Agreement as a whole and not to any particular provision of this Agreement. References in this Agreement to any “determination,” or any
matter being “determined,” by Agent or any Lender include good faith estimates (in the case of quantitative determinations), and good faith beliefs (in the case of qualitative determinations) by Agent or such Lender and mean that any such
determination so made shall be conclusive absent manifest error. Unless otherwise specified, section and subsection references are to this Agreement. Any reference to any statute, law, or regulation shall include all amendments thereto and revisions
thereof. Any reference herein to any of the Loan Documents includes any and all alterations, amendments, extensions, modifications, renewals, or supplements thereto or thereof, as applicable. If there exists any inconsistency between the terms of
the Credit Agreement and this Agreement or if the terms, conditions, or obligations under this Agreement are any more restrictive on Pledgor than those provided with respect to Pledgor under the Credit Agreement, then the terms of the Credit
Agreement shall prevail, so that nothing herein contained shall impose any greater or more onerous liability or restriction on Pledgor than is imposed under the Credit Agreement. To the extent any provision of the Credit Agreement addresses the same

  

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subject matter covered by a provision hereunder, actions or omissions which are expressly permitted or not prohibited by the terms of the Credit Agreement
shall not constitute a breach of the express or implied terms of this Agreement. 
  
 2. PLEDGE. 
  
 As security for the prompt and complete payment and performance of the Obligations, Pledgor hereby delivers, pledges, and grants to Agent for the ratable benefit of Lenders a continuing security interest in all of
Pledgor’s now-owned or hereafter-acquired right, title, and interest in and to the Collateral. 
  
 3. DELIVERY OF COLLATERAL; FURTHER ASSURANCES. 
  
 3.1 Delivery. All certificates or instruments representing or evidencing the Collateral shall be delivered promptly to and
held by Agent on behalf of the Lenders pursuant hereto and shall be in suitable form for transfer by delivery and shall be accompanied by all necessary instruments of transfer or assignment, duly executed in blank and undated, all in form and
substance satisfactory to Agent. 
  
 3.2
Uncertificated Securities. In the event that the securities that comprise the Collateral are uncertificated or in book entry form, then Pledgor shall (a) take such actions as may be required to cause each Corporation (i) to reflect Agent
as the registered owner of such Collateral and (ii) to otherwise take such actions as the Agent may require for the Agent’s security interest therein to be perfected by giving the Agent “control” of the Shares pursuant to Section 8106
of the Code and (b) upon request of Agent, provide Agent with an opinion of counsel reasonably satisfactory to the Agent, to the effect that Agent has a perfected security interest in the Collateral and such other opinions as Agent may reasonably
require, in form and substance reasonably satisfactory to Agent. 
  
 3.3 Registration. Agent shall have the right, at any time after an Event of Default shall have occurred and be continuing, to transfer to or to register in the name of Agent or any of its nominees any or
all of the Collateral, subject only to the revocable rights specified in Section 5.1. 
  
 3.4 Further Assurances. Pledgor agrees that it will cooperate with Agent, upon request of Agent, and shall execute and
deliver, or cause to be executed and delivered, to Agent, all stock powers, proxies, applications, agreements, assignments, financing statements, instruments, and other documents, and shall take all further action, at the expense of Pledgor, from
time to time reasonably requested by Agent, in order to maintain a continuing, first-priority, perfected security interest in the Collateral in favor of Agent, and to enable Agent to exercise and enforce its rights and remedies hereunder with
respect to the Collateral, and Pledgor agrees that it shall execute and deliver to Agent at Agent’s request any further applications, agreements, documents and instruments, and shall perform any and all acts deemed necessary by Agent, to carry
into effect the terms, conditions, and provisions of this Agreement and the transactions connected herewith. 
  

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 Should Pledgor fail to execute or deliver any such applications, agreements, documents,
financing statements and instruments, or to perform any such acts, Pledgor acknowledges that Agent, for the ratable benefit of Lenders, may execute and deliver the same and perform such acts in the name of Pledgor and on its behalf as its
attorney-in-fact in accordance with Section 13. 
  
 4.
AGENT’S DUTIES. 
  
 The powers
conferred on the Agent hereunder are solely to protect the interest of Agent and Lenders in the Collateral and shall not impose any duty upon Agent to exercise any such powers. Agent shall not have any duties with respect to the Collateral
other than the duty to use reasonable care if the Collateral is in its possession and to account for moneys actually received by it hereunder. In accordance with Section 9207 of the Code, Agent shall be deemed to have used reasonable care if it
observes substantially the same standard of care with respect to the custody or preservation of the Collateral as it observes with respect to similar assets owned by Agent. Without limiting the generality of the foregoing, Agent shall be under no
obligation to take any steps to preserve rights in the Collateral against any other parties, to sell the same if it threatens to decline in value, or to ascertain or to exercise any rights represented thereby (including rights with respect to calls,
conversions, exchanges, maturities, or tenders); provided, however, that Agent may, at its option, do so, and any and all expenses incurred in connection therewith shall be for the account of Pledgor. 
  
 5. VOTING RIGHTS; DIVIDENDS; ETC. 
  
 During the term of this Agreement, and as long as no Event
of Default has occurred and is continuing: 
  
 5.1 Voting Rights. Pledgor shall be entitled to exercise any and all voting and other consensual rights pertaining to any of the Shares or any part thereof for any purpose not inconsistent with the terms of this Agreement;
provided, however, no vote shall be cast or any consent, waiver or ratification given or any action taken which would violate or be inconsistent with the terms of this Agreement, the Credit Agreement or any other instrument or
agreement referred to therein or herein, or which could have the effect of impairing the value of the Collateral or any part thereof or the position or interest of Agent for the ratable benefit of Lenders, therein. 
  
 5.2 Dividends. Pledgor shall be entitled to
receive and retain any and all dividends and distributions paid in respect of the Shares (but only to the extent that such distribution is permitted under the Credit Agreement); provided, however, that any and all: 
  
 (a) dividends and distributions paid or payable other than
in cash in respect of, and any and all additional shares or instruments and other property received, receivable, or otherwise distributed in respect of, or in exchange for, any Shares; 
  
 (b) dividends and distributions paid or payable in cash in respect of any Shares in connection with a
partial or total liquidation or dissolution, merger, consolidation 

  

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or reorganization of any Corporation or any exchange of stock, conveyance of assets, or similar corporate reorganization; and 
  
 (c) cash paid with respect to, payable, or otherwise
distributed on redemption of, or in exchange for, any Shares, shall be forthwith delivered to Agent to hold as Collateral and shall, if received by Pledgor, be received in trust for the benefit of the Agent and Lenders, be segregated from the other
property or funds of Pledgor, and be forthwith delivered to Agent as Collateral in the same form as so received (with any necessary endorsement), and, if deemed appropriate by Agent, Pledgor shall take such actions, including the actions described
in Section 2, as Agent may require. 
  
 5.3
Proxy Statements. Agent shall execute and deliver (or cause to be executed and delivered) to Pledgor all such proxies and other instruments as Pledgor may reasonably request for the purposes of enabling Pledgor to exercise those voting
and other rights that Pledgor is entitled to exercise pursuant to Section 5.1 above and to receive those dividends or distributions that Pledgor is authorized to receive and retain pursuant to Section 5.2. 
  
 5.4 Event of Default. If an Event of Default
shall have occurred and be continuing: (i) all rights of Pledgor to exercise the voting and other consensual rights that it would otherwise be entitled to exercise pursuant to Section 5.1 and to receive the dividends and distributions that
they would otherwise be authorized to receive and retain pursuant to Section 5.2 shall, at Agent’s option, be suspended, and all such rights shall, at Agent’s option, thereupon become vested in Agent for the ratable benefit of
Lenders during the continuation of such Event of Default, and Agent shall, at its option, thereupon have the sole right to exercise such voting and other consensual rights and to receive and hold as Collateral such dividends and interest payments
during the continuation of such Event of Default, (ii) any payments received by Pledgor contrary to the provisions of this Section 5.4 shall be held in trust by Pledgor for the benefit of Agent and Lenders, shall be segregated from other
funds of Pledgor, and shall be promptly paid over to Agent in the same form as so received (with any necessary endorsement), and (iii) Agent shall have the right, pursuant to the terms of this Section 5.4, to vote all or any part of the
Shares (whether or not transferred into the name of the Lender), and give all consents, waivers and ratifications in respect of the Collateral and otherwise act with respect thereto as though it were the outright owner thereof. PLEDGOR HEREBY
IRREVOCABLY CONSTITUTES AND APPOINTS AGENT THE PROXY AND ATTORNEY-IN-FACT OF PLEDGOR, COUPLED WITH AN INTEREST, WITH FULL POWER OF SUBSTITUTION TO DO SO; SUCH PROXY SHALL CONTINUE IN FULL FORCE AND EFFECT AND TERMINATE ONLY UPON THE INDEFEASIBLE
PAYMENT IN FULL OF THE SECURED OBLIGATIONS. 
  
 6.
REPRESENTATIONS, WARRANTIES, AND COVENANTS. 
  
 Pledgor warrants, represents, and covenants that: 
  
 6.1 Perfection. The execution and delivery of this Agreement, and the delivery to Agent of the Shares, creates a valid, perfected, and first-priority security interest in 

  

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the Collateral in favor of Agent on behalf Lenders, and, after such delivery, all actions necessary to such perfection will have been duly taken. 

 
 6.2 Outstanding Shares. Each Domestic
Corporation presently has issued and outstanding the number of shares of capital stock listed on Schedule A hereto, of which Pledgor owns the percentages thereof listed on such Schedule; 
  
 6.3 Options. There are no presently existing
Options. 
  
 6.4 Shares Validly
Issued. All of the issued and outstanding Shares have been duly and validly issued by the respective Corporations, and they are fully paid and nonassessable. 
  
 6.5 Potential Changes Affecting Collateral. Pledgor has made its own arrangements for keeping
informed of changes or potential changes affecting the Collateral (including, but not limited to, rights to convert, rights to subscribe, payment of dividends, reorganization or other exchanges, tender offers, and voting rights), and Pledgor agrees
that Agent shall not have any responsibility or liability for informing Pledgor of any such changes or potential changes or for taking any action or omitting to take any action with respect thereto. 
  
 6.6 Additional Capital Stock. Pledgor will not
permit any Corporation to issue additional capital stock or any Options, warrants, or other rights to acquire such capital stock without the prior written consent of Agent. 
  
 7. SHARE ADJUSTMENTS. 
  
 In the event that during the term of this Agreement, any reclassification, readjustment, or other change is
declared or made in the capital structure of any Corporation, or any Option is exercised, all new substituted and additional shares, Options, or other securities, issued or issuable to Pledgor by reason of any such change or exercise shall be
delivered to and held by Agent under the terms of this Agreement in the same manner as the Collateral originally pledged hereunder. 
  
 8. OPTIONS. 
  
 In the event that during the term of this Agreement, Options shall be issued or exercised in connection with the Collateral, such Options
acquired by Pledgor shall be immediately assigned by Pledgor to Agent, and all new shares or other securities so acquired by Pledgor shall also be immediately assigned to Agent to be held under the terms of this Agreement in the same manner as the
Collateral originally pledged hereunder. 
  
 9.
CONSENT. 
  
 Pledgor hereby consents
that, from time to time, before or after the occurrence or existence of any Event of Default with or without notice to or assent from Pledgor, any other security at any time held by or available to Agent for any of the Obligations or any other
security at any time held by or available to Agent of any other person, firm, or corporation secondarily or 

  

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otherwise liable for any of the Obligations, may be exchanged, surrendered, or released and any of the Obligations may be changed, altered, renewed,
extended, continued, surrendered, compromised, waived, or released, in whole or in part, as Agent may see fit. Pledgor shall remain bound under this Agreement notwithstanding any such exchange, surrender, release, alteration, renewal, extension,
continuance, compromise, waiver, or inaction, or extension of further credit. 
  
 10. EVENT OF DEFAULT. 
  
 The occurrence of an Event of Default under, and as defined in, the Credit Agreement shall constitute an event of default (“Event of Default”) under this Agreement. 
  
 11. REMEDIES UPON DEFAULT. 
  
 During the continuance of an Event of Default, Agent shall
have, in addition to any other rights given by law or in this Agreement, in the Credit Agreement, or in any other Loan Document, all of the rights and remedies with respect to the Collateral of a secured party under the Code, and also shall have,
without limitation, the following rights, which Pledgor hereby agrees to be commercially reasonable: 
  
 11.1 Public or Private Sale. At any time or from time to time, Agent, for the ratable benefit of Lenders, may sell, assign
and deliver, or grant options to purchase, all or any part of the Collateral, or any interest therein, at any public or private sale, in one (1) or more sales or lots, without demand of performance, or advertisement, for cash, on credit, or for
other property, for immediate or future delivery without any assumption of credit risk, and for such price or prices and on such terms as Agent in its absolute discretion may deem commercially reasonable. Agent shall not be obligated to make any
such sale of Collateral regardless of whether any such notice of sale has therefor been given. Pledgor hereby waives any other requirement of notice, demand, or advertisement for sale, to the extent permitted by law. Pledgor hereby waives and
releases to the fullest extent permitted by law any right or equity of redemption with respect to the Collateral, whether before or after sale hereunder, and all rights, if any, of marshaling the Collateral and any other security for the Obligations
or otherwise. Agent shall not be liable for failure to collect or realize upon any or all of the Collateral or for any delay in so doing nor shall Agent be under any obligation to take any action whatsoever with regard thereto. 
  
 11.2 Commercially Reasonable. Any sale of the
Collateral conducted in conformity with reasonable commercial practices of financial institutions disposing of property similar to the Collateral shall be deemed to be commercially reasonable. Any requirements of reasonable notice shall be met if
such notice is mailed to Pledgor, pursuant to the notice provision in the Credit Agreement, at least ten (10) Business Days before the time of the sale or disposition. Any other requirement of notice, demand, or advertisement for sale, is, to the
extent permitted by law, waived. 
  
 11.3
Purchase by the Lender at Public Sale. Agent may, in its name, or in the name of a designee or nominee, buy any of the Collateral at any public sale of the Collateral. 

  

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Agent shall have the right to execute any document or form, in its name or in the name of Pledgor, that may be necessary or desirable in connection with such
sale of the Collateral. 
  
 11.4
Applicable Securities Laws. Should Agent reasonably determine that, prior to any public offering of any of the Collateral, such securities should be registered under the ‘33 Act and/or registered or qualified under any other federal
or state law, and that such registration and/or qualification is not practical, Pledgor agrees that it will be commercially reasonable if a private sale is arranged even though the sales price established and/or obtained may be substantially less
than the price that would be obtained pursuant to a public offering. In connection with any such private sale, Agent may from time to time attempt to sell all or any part of the Collateral by a private placement, restricting bidders and prospective
purchasers to those who will represent and agree that they are purchasing for investment only and not for distribution. In so doing, Agent may solicit offers to buy the Collateral, or any part of it for cash, from a limited number of investors
deemed by Agent, in its reasonable judgment, to be responsible parties who might be interested in purchasing the Collateral. Agent shall be under no obligation to delay a sale of any of the Collateral for the period of time necessary to permit the
issuer of such securities to register such securities for public sale under the ‘33 Act or similar law, or under applicable state securities laws. Without limiting the generality of the foregoing, the provisions of this Section would apply if,
for example, Agent were to place all or any part of the Collateral for private placement by an investment banking firm, or if such investment banking firm purchased all or any part of the Collateral for its own account, or if Agent placed all or any
part of the Collateral privately with a purchaser or purchasers. 
  
 12. INDEFEASIBLE PAYMENT 
  
 The Obligations shall not be considered indefeasibly paid for purposes of this Agreement unless and until all payments to Agent for the ratable benefit of the Lenders are no longer subject to any right on the part of any Person, including
Pledgor, Pledgor as a debtor in possession, or any trustee (whether appointed under the Bankruptcy Code or otherwise) of Pledgor or any of Pledgor’s Assets, to invalidate or set aside such payments or to seek to recoup the amount of such
payments or any portion thereof, or to declare same to be fraudulent or preferential. In the event that, for any reason, any portion of such payments to Agent is set aside or restored, whether voluntarily or involuntarily, after the making thereof,
then the obligation intended to be satisfied thereby shall be revived and continued in full force and effect as if said payment or payments had not been made. 
  

13. AGENT AS PLEDGOR’S ATTORNEY-IN-FACT. 
  

Pledgor irrevocably appoints Agent as Pledgor’s attorney-in-fact, with full authority in the place and stead and name of Pledgor,
from time to time at the Agent’s discretion, to take any action and to execute any instrument which the Agent may, in accordance with the provisions of the Loan Documents or this Agreement, require as necessary or advisable to accomplish the
purposes of this Agreement. Pledgor ratifies and approves all acts of such attorney. Agent will not be liable for any acts or omissions or for any error of judgment or mistake of fact or law except to the extent that such act or omission constituted
the gross negligence or willful misconduct of Agent, or its officers, directors, employees or agents. This 

  

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power, being coupled with an interest, is irrevocable until the commitments under this Agreement and the Credit Agreement have been terminated, all Letters
of Credit have expired or terminated, and the payment and performance in full of all non-contingent Obligations. 
  
 14. GENERAL PROVISIONS. 
  
 14.1 Effectiveness of this Agreement. This Agreement shall be binding and deemed effective when executed by Pledgor and
accepted and executed by Agent. 
  
 14.2
Cumulative Remedies; No Prior Recourse to Collateral. No failure by the Lender to exercise any right, remedy, or option under this Agreement or any present or future supplement thereto, or in any other agreement between the Pledgor and
the Lender, or delay by the Lender in exercising the same, will operate as a waiver thereof. No waiver by the Lender will be effective unless it is in writing, and then only to the extent specifically stated. No waiver by the Lender on any occasion
shall affect or diminish the Lender’s rights thereafter to require strict performance by the Pledgor of any provision of this Agreement. The Lender may proceed directly to collect the Obligations without any prior recourse to the Collateral.
The Lender’s rights under this Agreement will be cumulative and not exclusive of any other right or remedy which the Lender may have. 
  
 14.3 No Implied Waivers. No act, failure or delay by Agent shall constitute a waiver of any rights and remedies. No single
or partial waiver by Agent of any provision of this Agreement, the Credit Agreement, or any other Loan Document, or of breach or default hereunder or thereunder, or of any right or remedy which Agent may have, shall operate as a waiver of any other
provision, breach, default, right or remedy or of the same provision, breach, default, right or remedy of a future occasion. No waiver by Agent shall affect its rights to require strict performance of this Agreement. 
  
 14.4 Severability. The illegality or
unenforceability of any provision of this Agreement or any instrument or agreement required hereunder shall not in any way affect or impair the legality or enforceability of the remaining provisions of this Agreement or any instrument or agreement
required hereunder. 
  
 14.5 Governing
Law. This Agreement shall be interpreted and the rights and liabilities of the parties hereto determined in accordance with the internal laws (as opposed to the conflict of laws provisions provided that perfection issues with respect to Division
9 of the Code may give effect to applicable choice or conflict of law rules set forth in Division 9 of the Code) of the State of California; provided that the Lender shall retain all rights arising under federal law. 
  
 14.6 Survival of Representations and
Warranties. All of Pledgor’s representations and warranties contained in this Agreement shall survive the execution, delivery and acceptance thereof by the parties, notwithstanding any investigation by Agent, the Lenders or any of their
respective agents. 
  
 14.7
Notices. Except as otherwise provided herein, all notices, demands, and requests that either party is required or elects to give to the other shall be in writing (including 

  

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facsimile communication), and shall be delivered pursuant to the terms of Section 13.8 of the Credit Agreement. 
  
 14.8 Waiver of Notices. Unless otherwise
expressly provided herein, the Pledgor waives presentment, and notice of demand or dishonor and protest as to any instrument, notice of intent to accelerate the Obligations and notice of acceleration of the Obligations, as well as any and all other
notices to which it might otherwise be entitled. No notice to or demand on the Pledgor which the Lender may elect to give shall entitle the Pledgor to any or further notice or demand in the same, similar or other circumstances. 
  
 14.9 Binding Effect; Assignment. The
provisions of this Agreement shall be binding upon and inure to the benefit of the respective representatives, successors and assigns of the parties hereto; provided, however, that no interest herein may be assigned by Pledgor without the prior
written consent of Agent. The rights and benefits of Agent hereunder shall, if Agent so agrees, inure to any party acquiring any interest in the Obligations or any part thereof. 
  
 14.10 Modification. This Agreement is intended by Pledgor and Agent to be the final, complete,
and exclusive expression of the agreement between them. This Agreement supersedes any and all prior oral or written agreements relating to the subject matter hereof. No modification, rescission, waiver, release or amendment of any provision of this
Agreement shall be made, except by a written agreement signed by Pledgor and Agent. 
  
 14.11 Ambiguities. To the extent permitted by applicable law, neither this Agreement nor any uncertainty or ambiguity herein
shall be construed or resolved using any presumption against either Pledgor or Agent, whether under any rule of construction or otherwise. On the contrary, this Agreement has been reviewed by Pledgor and Agent and their respective counsel. To the
extent permitted by applicable law, in case of any ambiguity or uncertainty, this Agreement shall be construed and interpreted according to the ordinary meaning of the words used to accomplish fairly the purposes and intentions of all parties
hereto. 
  
 14.12 Counterparts.
This Agreement may be executed in any number of counterparts, and by the Lender and the Pledgor in separate counterparts, each of which shall be an original, but all of which shall together constitute one and the same agreement; signature pages may
be detached from multiple separate counterparts and attached to a single counterpart so that all signature pages are physically attached to the same document. 
  

14.13 Captions. The captions contained in this Agreement are for convenience of reference only, are without substantive
meaning and should not be construed to modify, enlarge, or restrict any provision. 
  
 14.14 Termination by the Agent. After termination of all commitments under the Credit Agreement, the expiration or
termination of all Letters of Credit, and the payment and performance in full of all non-contingent Obligations, Agent shall execute and deliver to Pledgor a termination of all of the security interests granted by Pledgor hereunder and, to the
extent they have been delivered to Agent and not disposed of in accordance with this Agreement, certificates evidencing the Shares. 
  

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 IN WITNESS WHEREOF, the parties have executed this Agreement on the date first written above. 

 

			
	“Agent”
	
	 BANK OF AMERICA, N.A.,
 as Agent and Lender

		
	By:	 	 /s/ John C. McNamara

	 Name:
	 	 John C. McNamara

	 Title:
	 	 Vice President

			
	“Pledgor”
	
	 SPANSION LLC,
 a Delaware limited liability company

		
	By:	 	 /s/ Steven J. Geiser

	 Name:
	 	 Steven J. Geiser

	 Title:
	 	 Vice President, Chief Financial Officer and
 TreasurerDeed of Trust, Security Agreement, Assignment of Rents and Financing Statement

 Exhibit 10.44 
  
 DEED OF TRUST, SECURITY AGREEMENT, 
 ASSIGNMENT OF RENTS AND FINANCING STATEMENT 
  
 THIS DEED OF TRUST, SECURITY AGREEMENT, ASSIGNMENT OF RENTS AND FINANCING STATEMENT (this “Deed of Trust”), entered into this 13th day of September, 2005, to be effective the 19th day of
September. 2005, by SPANSION LLC, a Delaware limited liability company (“Grantor”), whose address for notice hereunder is 915 DeGuigne Drive, P. O. Box 3453, Sunnyvale, California 94088, to PRLAP, INC., Trustee (hereinafter
referred to in such capacity as “Trustee”), whose address is 700 Louisiana, 7th Floor, Houston, Texas 77002, for the benefit of BANK OF AMERICA, N.A., a national banking association, in the capacity as Agent for the Lenders,
whose address is 55 South Lake Avenue, Suite 900, Pasadena, California 91107, 
  
 W I T N E S S E T H: 
  
 ARTICLE 1. 
  
 Definitions 
  
 Capitalized terms used but not defined herein shall have the respective meanings given thereto in the Credit Agreement. As used herein, the following terms shall have the following meanings: 
  
 (a) Beneficiary: Bank of America, N.A., a national
banking association, in the capacity as Agent for the Lenders, together with any successor agent under the Credit Agreement. 
  
 (b) Buildings: Any and all buildings, covered garages, utility sheds, workrooms, air conditioning towers, open parking areas,
structures and other improvements, and any and all additions, alterations, betterments or appurtenances thereto, now or at any time hereafter situated, placed or constructed upon the Land or any part thereof. 
  
 (c) Credit Agreement: The Credit Agreement of even
date herewith among the financial institutions named therein, Bank of America, N.A., as Agent, Banc of America Securities LLC, as the Sole Lead Manager and Book Manager, and Grantor, relating to loans to Grantor in an aggregate amount of up to
$175,000,000.00. 
  
 (d) Event of Default:
The phrase “Event of Default” shall have the meaning given thereto in the Credit Agreement. 
  
 (e) Fixtures: Those items now owned or hereafter acquired by Grantor that are both (1) now or hereafter attached or affixed to or
installed in any of the Buildings or on the Land and (2) required in order for the Buildings to provide an environment for the manufacturing of semiconductor wafers, including, without limitation, water, utility gas, electrical, storm and sanitary
sewer facilities from the point of connection with the utility service providers’ service delivery facilities, but excluding, without limitation, all materials, supplies, equipment, apparatus and other items now owned or hereafter acquired by
Grantor and now or hereafter attached to, installed in or used in connection with (temporarily or permanently) the semiconductor manufacturing tools and automation distribution systems now or hereafter located in the Buildings; and provided, further
that “Fixtures” shall expressly exclude all said semiconductor manufacturing tools and automation distribution systems now or hereafter located in the Buildings and all gas cabinets, electrical motor generators and all chemical
distribution systems to the tools and equipment they serve. 

 (f) Grantor: The above defined Grantor, and any and all subsequent owners of the
Mortgaged Property or any part thereof. 
  
 (g)
Guarantors (individually and/or collectively, as the context may require): Spansion International, Inc., a Delaware corporation, and any other person executing a Guaranty. 
  
 (h) Guaranty (individually and/or collectively, as the context may require): All Guaranty Agreements
executed by any person in favor of Beneficiary, guaranteeing repayment or performance of any or all of the Loan Documents. 
  
 (i) Impositions: All real estate and personal property taxes; water, gas, sewer, electricity and other utility rates and charges;
charges for any easement, license or agreement maintained for the benefit of the Mortgaged Property; and all other taxes, charges and assessments and any interest, costs or penalties with respect thereto, general and special, ordinary and
extraordinary, foreseen and unforeseen, of any kind and nature whatsoever which at any time prior to or after the execution hereof may be assessed, levied or imposed upon the Mortgaged Property or the Rents or the ownership, use, occupancy or
enjoyment thereof. 
  
 (j) Land: The real
estate or interest therein described on Exhibit “A” attached hereto, and all rights, titles and interests appurtenant thereto. 
  
 (k) Leases: Any and all leases, subleases, licenses, concessions or other agreements (written or oral, now or hereafter in effect)
which grant a possessory interest in and to, or the right to use, the Mortgaged Property, and all other agreements, such as utility contracts, maintenance agreements and service contracts, which in any way relate to the use, occupancy, operation,
maintenance, enjoyment or ownership of the Mortgaged Property. 
  
 (l) Lenders: The financial institutions from time to time parties to the Credit Agreement, together with their respective successors and assigns. 
  
 (m) Loan Documents: The Loan Documents defined in the Credit Agreement including, without limitation,
the Credit Agreement, this Deed of Trust, and all Guarantys. 
  
 (n) Material Adverse Effect: The term “Material Adverse Effect” shall have the meaning given thereto in the Credit Agreement. 
  
 (o) Mortgaged Property: The Land, Buildings and Fixtures, together with: 
  
 (i) all rights, privileges, tenements, hereditaments,
rights-of-way, easements, appendages and appurtenances in anywise appertaining thereto, and all right, title and interest, if any, of Grantor in and to any streets, ways, alleys, strips or gores of land adjoining the Land or any part thereof; and

  
 (ii) all betterments, additions, alterations,
appurtenances, substitutions, replacements and revisions thereof and thereto and all reversions and remainders therein; and 

 (iii) all of Grantor’s right, title and interest in and to any awards,
remunerations, reimbursements, settlements or compensation heretofore made or hereafter to be made by any Governmental Authority pertaining to the Land, Buildings or Fixtures, including but not limited to those for any vacation of, or change of
grade in, any streets affecting the Land or the Buildings and those for municipal utility district or other utility costs incurred in connection with the Land; and 
  
 (iv) all rights to utility availability applicable to the Land granted by any city, municipal utility
district or other governmental or quasi-governmental authority. 
  
 As used in this Deed of Trust, the term “Mortgaged Property” shall be expressly defined as meaning all, or where the context permits or requires, any portion of the above, and all or, where the context
permits or requires, any interest therein. 
  
 (p) Obligations: The Obligations defined in the Credit Agreement including, without limitation, (i) the principal of, interest on and all other amounts, payments and premiums due under the Credit Agreement; and (ii) any and all
obligations, contingent or otherwise, whether now existing or hereafter arising, of Grantor to Beneficiary or any Lender, or to any of their respective Affiliates or successors arising under or in connection with any Bank Products (as such term is
defined in the Credit Agreement). The scheduled maturity date of the Obligations is the date that is five (5) years after the date of this Deed of Trust. 
  
 (q) Other Obligations: Any and all of the covenants, warranties, representations and other obligations (other than to repay the
Obligations) made or undertaken by Grantor, Guarantors or others to any Lender, Beneficiary, Trustee or others as set forth in the Loan Documents. 
  
 (r) Rents: All of the rents, revenues, income, proceeds, profits, security and other types of deposits, and other benefits paid or
payable by parties to the Leases other than Grantor for using, leasing, licensing, possessing, operating from, residing in, selling or otherwise enjoying the Mortgaged Property. 
  
 (s) Utility Rights: Any and all rights of Grantor to utility availability (including water, sanitary
sewer, and drainage) applicable to the Land and Buildings granted or to be granted by any utility, municipal utility district, or any other Governmental Authority. 
  
 ARTICLE 2. 
  
 Grant 
  
 To secure the full and timely payment of the Obligations and the full and timely performance and discharge of the Other Obligations, Grantor has GRANTED,
BARGAINED, SOLD and CONVEYED, and by these presents does GRANT, BARGAIN, SELL and CONVEY, unto Trustee the Mortgaged Property, subject, however, to the Permitted Liens, TO HAVE AND TO HOLD the Mortgaged Property unto Trustee, forever, and Grantor
does hereby bind itself, its successors and assigns to warrant and forever defend the title to the Mortgaged Property unto Trustee against every person whomsoever lawfully claiming or to claim the same or any part thereof; provided, however, that if
Grantor shall pay (or cause to be paid) the Obligations as and when the same shall become due and payable and shall have performed and discharged (or caused to be performed and discharged) all Other Obligations required to be performed and
discharged at the time the Obligations are paid in full, then the Liens created by this Deed of Trust shall terminate, otherwise same shall remain in full force and effect. 

 ARTICLE 3. 
  
 Affirmative Covenants 
  
 Grantor hereby unconditionally covenants and agrees with Beneficiary as follows: 
  
 3.1 First Lien Status: Grantor will protect the first lien status of this Deed of Trust. Except for Permitted Liens,
Grantor will not place, or permit to be placed, or otherwise mortgage, hypothecate or encumber the Mortgaged Property with, any other Lien, regardless of whether same is allegedly or expressly inferior to the Lien created by this Deed of Trust, and,
if any such Lien is asserted against the Mortgaged Property, Grantor will promptly, and at its own cost and expense, (a) pay the underlying claim in full or take such other action so as to cause same to be released and (b) within five (5) days from
the date Borrower obtains knowledge that such Lien is so asserted, give Beneficiary notice of such Lien. Such notice shall specify who is asserting such Lien and shall detail the origin and nature of the underlying claim giving rise to such asserted
Lien. In the event of the placing of a mechanic’s or materialman’s lien against the Mortgaged Property, Borrower shall have the additional option of filing a bond for payment of the claim secured by such Lien in accordance with the
provisions of Subchapter I of Chapter 53 of the Texas Property Code. 
  
 3.2 Repair: Grantor will keep the Mortgaged Property in first class order and condition and will make all repairs, replacements, renewals, additions, betterments, improvements and alterations thereof and thereto, interior and
exterior, structural and non-structural, ordinary and extraordinary, foreseen and unforeseen, which are necessary or reasonably appropriate to keep same in such order and condition. Grantor will also use its best efforts to prevent any act or
occurrence which might impair the value or usefulness of the Mortgaged Property for its intended usage. In instances where repairs, replacements, renewals, additions, betterments, improvements or alterations are required in and to the Mortgaged
Property to prevent loss, damage, waste or destruction thereof, Grantor shall proceed to construct same, or cause same to be constructed. 
  
 3.3 [Intentionally Omitted] 
  
 3.4 [Intentionally Omitted] 
  
 3.5 Restoration Following Casualty: If any act or occurrence of any kind or nature, ordinary or extraordinary, foreseen or unforeseen (including
any casualty for which insurance was not obtained or obtainable), shall result in damage to or loss or destruction of the Mortgaged Property, Grantor will give notice thereof to Beneficiary and, if so instructed by Beneficiary, will promptly, at
Grantor’s sole cost and expense and regardless of whether the insurance proceeds (if any) shall be sufficient for the purpose, commence and continue diligently to completion to restore, repair, replace and rebuild the Mortgaged Property as
nearly as possible to its value, condition and character immediately prior to such damage, loss or destruction. 
  
 3.6 Maintenance of Rights-of-Way, Easements, and Licenses: Grantor will maintain, preserve and renew all rights-of-way, easements, grants,
privileges, licenses and franchises reasonably necessary for the use of the Mortgage Property from time to time and will not, without the prior consent of Beneficiary, initiate, join in or consent to any private restrictive covenant or other public
or private restriction as to the use of the Mortgaged Property. 

 ARTICLE 4. 
  
 Negative Covenants 
  
 Grantor hereby covenants and agrees with Beneficiary that, until the entire Obligations shall have been paid in full and all of the Other Obligations
shall have been fully performed and discharged: 
  
 4.1 Use
Violations: Grantor will not use, maintain, operate or occupy, or allow the use, maintenance, operation or occupancy of, the Mortgaged Property in any manner which (a) violates any Requirement of Law, (b) may be dangerous unless safeguarded as
required by all Requirements of Law or (c) constitutes a public or private nuisance, in each case such as could reasonably be expected to have a Material Adverse Effect. 
  
 4.2 Waste: Grantor will not commit or permit any waste of the Mortgaged Property such as could reasonably be expected
to have a Material Adverse Effect. 
  
 ARTICLE 5. 
  
 [INTENTIONALLY OMITTED] 
  
 ARTICLE 6. 
  
 Remedies and Foreclosure 
  
 6.1 Remedies: If an Event of Default shall occur, Beneficiary may, at Beneficiary’s election and by or through Trustee or otherwise, exercise
any or all of the following rights, remedies and recourses: 
  
 (a) Acceleration: Declare the Obligations to be immediately due and payable, without notice of intent to accelerate, notice of acceleration or any further notice, presentment, protest, demand or action of any
nature whatsoever (each of which hereby is expressly waived by Grantor), whereupon the same become immediately due and payable. 
  
 (b) Entry on Mortgaged Property: Enter upon the Mortgaged Property and take exclusive possession thereof and of all books and
records relating thereto. If Grantor remains in possession of all or any part of the Mortgaged Property after an Event of Default and without Beneficiary’s prior written consent thereto, Beneficiary may invoke any and all legal remedies to
dispossess Grantor, including specifically one or more actions for forcible detainer, trespass to try title and writ of restitution. Nothing contained in the foregoing sentence shall, however, be construed to impose any greater obligation or any
prerequisites to acquiring possession of the Mortgaged Property after an Event of Default than would have existed in the absence of such sentence. 
  
 (c) Operation of Mortgaged Property: Hold, lease, manage, operate or otherwise use or permit the use of the Mortgaged Property,
either by itself or by other persons, firms or entities, in such manner, for such time and upon such other terms as Beneficiary may deem to be prudent and reasonable under the circumstances (making such repairs, alterations, additions and
improvements thereto and taking any and all other action with reference thereto, from time to time, as Beneficiary shall deem necessary or desirable). 

 (d) Foreclosure and Sale: Sell or offer for sale the Mortgaged Property, or any
interest or estate in the Mortgaged Property, in such portions, order and parcels as Beneficiary may determine, with or without having first taken possession of same, to the highest bidder for cash at public auction. Beneficiary and Trustee shall
comply with the requirements of the Texas Property Code as then in effect (or other applicable law) with regard to any such sale. The affidavit of any person having knowledge of the facts regarding such sale and the manner in which it was conducted
shall be prima facie evidence of such facts. At any such sale (i) it shall not be necessary for Trustee to have physically present, or to have constructive possession of, the Mortgaged Property (Grantor hereby covenanting and agreeing to deliver to
Trustee any portion of the Mortgaged Property not actually or constructively possessed by Trustee immediately upon demand by Trustee) and the title to and right of possession of any such property shall pass to the purchaser thereof as completely as
if the same had been actually present and delivered to purchaser at such sale, (ii) each instrument of conveyance executed by Trustee shall contain a general warranty of title, binding upon Grantor, (iii) each and every recital contained in any
instrument of conveyance made by Trustee shall conclusively establish the truth and accuracy of the matters recited therein, including, without limitation, nonpayment of the Obligations, advertisement and conduct of such sale in the manner provided
herein and otherwise by law and appointment of any successor Trustee hereunder, (iv) any and all prerequisites to the validity thereof shall be conclusively presumed to have been performed, (v) the receipt of Trustee or of such other party or
officer making the sale shall be a sufficient discharge to the purchaser or purchasers for his or their purchase money and no such purchaser or purchasers, or his or their assigns or personal representatives, shall thereafter be obligated to see to
the application of such purchase money or be in any way answerable for any loss, misapplication or nonapplication thereof, (vi) to the fullest extent permitted by law, Grantor shall be completely and irrevocably divested of all of its right, title,
interest, claim and demand whatsoever, either at law or in equity, in and to the property sold and such sale shall be a perpetual bar both at law and in equity against Grantor, and against any and all other persons claiming or to claim the property
sold or any part thereof, by, through or under Grantor and (vii) to the extent and under such circumstances as are permitted by law, Beneficiary may be a purchaser at any such sale. Grantor hereby authorizes and empowers Trustee to execute and
deliver to any purchaser of any portion of or interest in the Mortgaged Property a good and sufficient deed of conveyance thereof with covenants of general warranty binding on Grantor and its successors and assigns, as well as a bill of sale
covering any Fixtures, with similar covenants of general warranty. If at the time of sale, Grantor or any of its successors or assigns are occupying all or any portion of the Mortgaged Property, each and all shall immediately become the tenant of
the purchaser at such sale, which tenancy shall be terminable at will, at a reasonable rental per day based upon the value of the Mortgaged Property, such rental to be due daily to the purchaser. An action of forcible detainer shall lie if the
tenant holds over after such purchaser makes demand in writing for possession of the Mortgaged Property. 
  
 (e) Deficiency. In the event the Mortgaged Property is sold at any foreclosure sale hereunder, and the proceeds thereof are not
sufficient to satisfy all of the indebtedness secured hereby, then the holder of the indebtedness secured hereby may bring an action seeking recovery of such deficiency. In such event, Grantor may have the right, pursuant to the Texas Property Code,
to request that a determination of the fair market value of the Mortgaged Property as of the date of the foreclosure sale be made. Grantor and Beneficiary hereby agree that the following procedures shall be utilized in such an event, to the extent
the same are not prohibited by the applicable provisions of the Texas Property Code. In the event Grantor requests that the fair market value of the Mortgaged Property as of the date of the foreclosure sale be ascertained for purposes of determining
the amount of any deficiency due after the sale of the Mortgaged Property, the fair market value of the Mortgaged Property as of the date of the foreclosure sale 

 
will be determined by an appraiser selected by Beneficiary, unless objection to such appraiser is made by Grantor within three (3) business days after
receiving notice of the selection of such appraiser by Beneficiary. In the event Grantor objects to the identity of the appraiser selected by Beneficiary, Grantor shall designate in writing, within three (3) business days after its objection, an
appraiser which it finds satisfactory. The fair market value of the Mortgaged Property for purposes of the deficiency action shall be the amount determined by the agreement of such two appraisers. If such two appraisers are unable to agree on the
fair market value of the Mortgaged Property, the two appraisers shall, within three (3) business days after failing to agree on such fair market value, agree upon a third appraiser who shall conduct an appraisal of the Mortgaged Property as of the
date of the foreclosure sale, which appraisal shall be conclusive and binding upon Grantor and Beneficiary as to the fair market value of the Mortgaged Property as of the date of the foreclosure sale. All costs of the appraiser selected by the
Beneficiary shall be paid by Beneficiary, all costs of the appraiser selected by Grantor shall be paid by Grantor and all costs of the appraiser selected by the other two appraisers shall be split evenly between Grantor and Beneficiary. 

 
 (f) Trustee or Receiver: Upon, or at any time
after, commencement of foreclosure of the Lien provided for herein or any legal proceedings hereunder, make application to a court of competent jurisdiction as a matter of strict right and without notice to Grantor or regard to the adequacy of the
Mortgaged Property for the repayment of the Obligations, for appointment of a receiver of the Mortgaged Property and Grantor does hereby irrevocably consent to such appointment. Any such receiver shall have all the usual powers and duties of
receivers in similar cases, including the full power to rent, maintain and otherwise operate the Mortgaged Property upon such terms as may be approved by the court, and shall apply such Rents in accordance with the provisions of Paragraph 6.8
hereinbelow. 
  
 (g) Other: Exercise any
and all other rights, remedies and recourses granted under the Loan Documents (including without limitation those set forth in Articles 7 and 9 hereinbelow) or now or hereafter existing in equity, at law, by virtue of statute or otherwise.

  
 6.2 Separate Sales and Installment Sales: The Mortgaged
Property may be sold in one or more parcels and in such manner and order as Trustee, in his sole discretion, may elect, it being expressly understood and agreed that the right of sale arising out of any Event of Default shall not be exhausted by any
one or more sales. 
  
 6.3 Remedies Cumulative, Concurrent and
Nonexclusive: Beneficiary shall have all rights, remedies and recourses granted in the Loan Documents and available at law or equity (including specifically those granted by the Uniform Commercial Code in effect and applicable to the Mortgaged
Property, the Leases and the Rents, or any portion thereof) and same (a) shall be cumulative and concurrent, (b) may be pursued separately, successively or concurrently against Grantor, Guarantor or others obligated to repay amounts advanced
pursuant to the Credit Agreement, or against the Mortgaged Property, or against any one or more of them, at the sole discretion of Beneficiary, (c) may be exercised as often as occasion therefor shall arise, it being agreed by Grantor that the
exercise or failure to exercise any of same shall in no event be construed as a waiver or release thereof or of any other right, remedy or recourse and (d) are intended to be, and shall be, nonexclusive. 
  
 6.4 No Conditions Precedent to Exercise of Remedies: Neither Grantor,
Guarantor nor any other person hereafter obligated for payment of all or any part of the Obligations or fulfillment of all or any of the Other Obligations shall be relieved of such obligation by reason of (a) the failure of Trustee to comply with
any request of Grantor, Guarantor or of any other person so obligated to foreclose the lien of this Deed of Trust or to enforce any provisions of the other Loan Documents, (b) the release, regardless of 

 
consideration, of the Mortgaged Property or the addition of any other property to the Mortgaged Property, (c) any agreement or stipulation between any
subsequent owner of the Mortgaged Property and Beneficiary extending, renewing, rearranging or in any other way modifying the terms of the Loan Documents without first having obtained the consent of, given notice to or paid any consideration to
Grantor, Guarantor or such other person, and in such event Grantor, Guarantor and all such other persons shall continue to be liable to make payment according to the terms of any such extension or modification agreement unless expressly released and
discharged in writing by Beneficiary or (d) by any other act or occurrence save and except the complete payment of the Obligations and the complete fulfillment of all of the Other Obligations. 
  
 6.5 Release of and Resort to Collateral: Beneficiary may release,
regardless of consideration, any part of the Mortgaged Property without, as to the remainder, in any way impairing, affecting, subordinating or releasing the Lien created in or evidenced by this Deed of Trust or its status as a first and prior Lien
on Mortgaged Property. For payment of the Obligations, Beneficiary may resort to any other security therefor held by Trustee in such order and manner as Beneficiary may elect. 
  
 6.6 WAIVER OF REDEMPTION, NOTICE AND MARSHALLING OF ASSETS: TO THE FULLEST EXTENT PERMITTED BY LAW, GRANTOR HEREBY
IRREVOCABLY AND UNCONDITIONALLY WAIVES AND RELEASES (A) ALL BENEFIT THAT MIGHT ACCRUE TO GRANTOR BY VIRTUE OF ANY PRESENT OR FUTURE LAW EXEMPTING THE MORTGAGED PROPERTY FROM ATTACHMENT, LEVY OR SALE ON EXECUTION OR PROVIDING FOR ANY APPRAISEMENT,
VALUATION, STAY OF EXECUTION, EXEMPTION FROM CIVIL PROCESS, REDEMPTION OR EXTENSION OF TIME FOR PAYMENT, (B) ALL NOTICES OF ANY EVENT OF DEFAULT OR OF TRUSTEE’S ELECTION TO EXERCISE OR HIS ACTUAL EXERCISE OF ANY RIGHT, REMEDY OR RECOURSE
PROVIDED FOR UNDER THE LOAN DOCUMENTS AND (C) ANY RIGHT TO A MARSHALLING OF ASSETS OR A SALE IN INVERSE ORDER OF ALIENATION. 
  
 6.7 Discontinuance of Proceedings: In case Beneficiary shall have proceeded to invoke any right, remedy or recourse permitted under the Loan
Documents and shall thereafter elect to discontinue or abandon same for any reason, Beneficiary shall have the unqualified right so to do and, in such an event, Grantor and Beneficiary shall be restored to their former positions with respect to the
Obligations, the Other Obligations, the Loan Documents, the Mortgaged Property and otherwise, and the rights, remedies, recourses and powers of Beneficiary shall continue as if same had never been invoked. 
  
 6.8 Application of Proceeds: The proceeds of any sale of, and the
Rents and other amounts generated by the holding, leasing, operation or other use of, the Mortgaged Property or the Leases shall be applied by Beneficiary or Trustee (or the receiver, if one is appointed) to the extent that funds are so available
therefrom in the following orders of priority: 
  
 (a) first, to the payment of the costs and expenses of taking possession of the Mortgaged Property and of holding, using, leasing, repairing, improving and selling the same, including, without limitation (i) trustees’ and
receivers’ fees, (ii) court costs, (iii) attorneys’ and accountants’ fees, (iv) costs of advertisement, and (v) the payment of any and all Impositions, Liens or other rights, titles or interests equal or superior to the Lien of this
Deed of Trust (except those to which the Mortgaged Property has been sold subject to and without in any way implying Beneficiary’s prior consent to the creation thereof); 
  
 (b) second, to the payment of all amounts, other than the then unpaid principal balance of the Indebtedness
and accrued but unpaid interest which may be due to Beneficiary under the Loan Documents, together with interest thereon as provided therein; 

 (c) third, to the payment of all accrued but unpaid interest due under the Loan
Documents; 
  
 (d) fourth, to the payment of the
then unpaid principal balance of the Indebtedness; 
  
 (e) fifth, to the extent funds are available therefor out of the sale proceeds or the Rents and, to the extent known by Beneficiary and permitted by law, to the payment of any indebtedness or obligation secured by a subordinate Lien on the
Mortgaged Property; and 
  
 (f) sixth, to
Grantor, its successors or assigns, or whomsoever else shall be legally entitled thereto. 
  
 ARTICLE 7. 
  
 Assignment of
Rents 
  
 7.1 Assignment: To further secure the full
and timely payment of the Obligations and the full and timely performance of the Other Obligations, Grantor hereby grants to Beneficiary a security interest in all the rights of the lessor and the landlord, and all of Grantor’s other rights,
titles and interests, in, to and under the Leases, and all Rents that arise, accrue or are derived from the Mortgaged Property, whether or not pursuant to the Leases. 
  
 7.2 Covenants: Grantor covenants with Beneficiary (i) to duly and punctually observe, perform and comply with any and
all of the representations, warranties, covenants, agreements and obligations imposed upon the landlord in the Leases; (ii) not to do or permit to be done anything to impair the security of any of the Leases; (iii) that no rent reserved in any of
the Leases has been or will be assigned; (iv) not to collect any of the Rent arising, accruing or to be derived from the Mortgaged Property more than thirty (30) days in advance of the time when the same become due under the terms of said Leases;
(v) not to discount any future accruing Rents; (vi) to maintain each of the Leases in full force and effect during the full term thereof; (vii) to appear in and defend any action or proceeding arising under or in any manner connected with any of the
Leases or the representations, warranties, covenants and agreements of the landlord thereunder or the other party or parties thereto; (viii) not to execute or grant any other assignment of lease, assignment of rents or security interest relating to
the Leases, the Rents or the Mortgaged Property or grant a security interest therein, except with prior written consent of Beneficiary; (ix) to collaterally assign and transfer to Beneficiary, at the request of Beneficiary, any specific Leases upon
any specific parts of the Mortgaged Property (said collateral assignment to be in form acceptable to Beneficiary); (x) to execute and deliver, at the request of Beneficiary, all such further assurances and assignments in the Mortgaged Property as
Beneficiary shall from time to time reasonably require; and (xi) if requested by Beneficiary, to deliver to Beneficiary executed counterparts of all Leases affecting the Mortgaged Property, regardless of whether such Leases were or are executed
before or after the date hereof. 
  
 7.3 Payments to
Beneficiary: A demand on any tenant by Beneficiary for the payment of Rent shall be sufficient to warrant said tenant to make future payments of Rent to Beneficiary without the necessity of any consent by Grantor. 
  
 7.4 Rights of Beneficiary Upon Default: Upon or at any time during the
continuance of an Event of Default, Grantor shall deliver to Beneficiary all amounts received by Grantor under the Leases and Beneficiary shall have the right to apply all amounts it receives with respect to the Leases (regardless of whether
Beneficiary receives such amounts from Grantor, the tenants under the Leases or otherwise) to the payment, in any order, of one or more of the following: (a) the cost of all alterations, renovations, 

 
repairs and replacements and expenses incident to taking and retaining possession of the Mortgaged Property and the management and operation thereof, (b) all
taxes, charges, claims, assessments, water rents and any other liens and premiums for insurance maintained with respect to the Mortgaged Property, with interest on all such items, and (c) in the manner and to the items set forth in Paragraph 6.8
hereof. Beneficiary may apply such amounts in such order of priority as to any of such items as Beneficiary in its sole discretion may determine, any statute, law, custom or use to the contrary notwithstanding. 
  
 7.5 Further Assurances; Power of Attorney: Grantor, upon
Beneficiary’s request, shall execute, acknowledge and deliver and/or file such further instruments and do such further acts as may be reasonably necessary, desirable or proper to effectuate the intent and purposes of this Article 7. For example
only, if Beneficiary desires to have the tenant under any particular Lease make payments under such Lease directly to Beneficiary, then, at Beneficiary’s request, Grantor shall join with Beneficiary in the execution and delivery of a letter to
such tenant notifying such tenant of Beneficiary’s interest in such Lease and instructing such tenant to make all future payments under such Lease directly to Beneficiary. Grantor does hereby irrevocably constitute Beneficiary and any successor
thereto, with the full power of substitution, as its true and lawful attorney-in-fact and agent with full power and authority to act in its name, place and stead in the execution, acknowledgment, swearing to, delivery, filing and recording of any
instrument or other document, or for the taking of any other action which Beneficiary deems reasonably necessary, desirable or proper to carry out more effectively the intent and purposes of this Article 7. The power of attorney granted herein shall
be deemed to be coupled with an interest, shall be irrevocable, shall survive the death, disability, dissolution, liquidation or other termination of Grantor and shall be binding on all successors and assigns of Grantor. 
  
 7.6 Effect of Foreclosure: Any foreclosure of this Deed of Trust or
any other lien securing payment of the Obligations, or the execution and delivery of any deed in lieu of any such foreclosure, shall not terminate any of the Leases, but rather such Leases shall remain in full force and effect; provided, however,
the person or entity who acquires the Mortgaged Property (or any applicable portion thereof) at such foreclosure sale or by deed in lieu of such foreclosure shall have the right to terminate any or all of such Leases relating to the portion of the
Mortgaged Property so acquired by giving written notice thereof to the applicable tenants within sixty (60) days after the date of such acquisition. 
  
 7.7 INDEMNITY: BENEFICIARY SHALL NOT BE OBLIGATED TO PERFORM OR DISCHARGE, NOR DOES IT HEREBY UNDERTAKE TO PERFORM OR DISCHARGE, ANY OBLIGATION,
DUTY OR LIABILITY UNDER THE LEASES, OR UNDER OR BY REASON OF THIS DEED OF TRUST, AND GRANTOR SHALL AND DOES HEREBY AGREE TO INDEMNIFY BENEFICIARY FOR AND TO HOLD BENEFICIARY HARMLESS OF AND FROM ANY AND ALL LIABILITY, LOSS OR DAMAGE WHICH IT MAY OR
MIGHT INCUR UNDER ANY OF THE LEASES OR UNDER OR BY REASON OF THIS ARTICLE 7 AND OF AND FROM ANY AND ALL CLAIMS AND DEMANDS WHATSOEVER WHICH MAY BE ASSERTED AGAINST IT BY REASON OF ANY ALLEGED OBLIGATIONS OR UNDERTAKINGS ON ITS PART TO PERFORM OR
DISCHARGE ANY OF THE TERMS, COVENANTS OR AGREEMENTS CONTAINED IN ANY OF THE LEASES OR THIS DEED OF TRUST, EXCEPT FOR THE GROSS NEGLIGENCE OR WILLFUL MISCONDUCT OF BENEFICIARY. SHOULD BENEFICIARY INCUR ANY SUCH LIABILITY, LOSS OR DAMAGE UNDER ANY OF
THE LEASES OR UNDER OR BY REASON OF THIS ARTICLE 7, OR IN THE DEFENSE OF ANY SUCH CLAIMS OR DEMANDS, THE AMOUNT THEREOF, INCLUDING ALL COSTS, EXPENSES AND REASONABLE ATTORNEYS’ FEES, SHALL BE SECURED HEREBY, AND GRANTOR SHALL REIMBURSE
BENEFICIARY THEREFOR (WITH INTEREST THEREON AT THE DEFAULT RATE) IMMEDIATELY UPON DEMAND. 

 ARTICLE 8. 
  
 Condemnation 
  
 8.1 General: Immediately upon its obtaining knowledge of the institution or the threatened institution of any proceeding for the condemnation of
the Mortgaged Property, Grantor shall notify Trustee and Beneficiary of such fact. Grantor shall then, if requested by Beneficiary, file or defend its claim thereunder and prosecute same with due diligence to its final disposition and shall cause
any awards or settlements to be paid over to Beneficiary for disposition pursuant to the terms of this Deed of Trust. Grantor may be the nominal party in such proceeding but Beneficiary shall be entitled to participate in and to control same and to
be represented therein by counsel of its own choice, and Grantor will deliver, or cause to be delivered, to Beneficiary such instruments as may be requested by it from time to time to permit such participation. If the Mortgaged Property is taken or
diminished in value, or if a consent settlement is entered, by or under threat of such proceeding, the award or settlement payable to Grantor by virtue of its interest in the Mortgaged Property shall be, and by these presents is, assigned,
transferred and set over unto Beneficiary to be held by it, in trust, subject to the Lien of this Deed of Trust, and disbursed as follows: 
  
 (a) if (i) all of the Mortgaged Property is taken, (ii) so much of the Mortgaged Property is taken, or the Mortgaged Property is so
diminished in value, that the remainder thereof cannot (in Beneficiary’s reasonable judgment) continue to be operated profitably for the purpose it was being used immediately prior to such taking or diminution, (iii) an Event of Default shall
have occurred, or (iv) the Mortgaged Property is partially taken or diminished in value and (in Beneficiary’s judgment) need not be rebuilt, restored or repaired in any manner, then in any such event the entirety of the sums so paid to
Beneficiary shall be applied by it in the order recited in Paragraph 8.2 hereinbelow; or 
  
 (b) if (i) only a portion of the Mortgaged Property is taken and the portion remaining can (in Beneficiary’s reasonable judgment),
with rebuilding, restoration or repair, be profitably operated for the purpose referred to in Paragraph 8.1(a)(ii) hereinabove, (ii) none of the other facts recited in Paragraph 8.1(a) hereinabove exists, (iii) Grantor shall deliver to Beneficiary
plans and specifications for such rebuilding, restoration or repair acceptable to Beneficiary, which acceptance shall be evidenced by Beneficiary’s written consent thereto, and (iv) Grantor shall thereafter commence the rebuilding, restoration
or repair and complete same, all in substantial accordance with the plans and specifications and within six (6) months after the date of the taking or diminution in value and shall otherwise comply with Paragraph 3.2 hereinabove, then such sums
shall be paid to Grantor to reimburse Grantor for money spent in the rebuilding, restoration or repair; otherwise same shall be applied by Beneficiary in the order recited in Paragraph 8.2 hereinbelow. 
  
 8.2 Application of Proceeds: All proceeds received by Beneficiary with
respect to a taking or a diminution in value of the Mortgaged Property shall be applied in the following order of priority: 
  
 (a) first, to reimburse Trustee or Beneficiary for all costs and expenses, including reasonable attorneys’ fees, incurred in
connection with collection of the said proceeds; 
  
 (b) thereafter, the balance, if any, shall be applied in the order of priority recited in Paragraph 6.8(b) through (f) hereinabove; provided, however, that if such proceeds are required under Paragraph 8.1(b) hereinabove to be applied to
the rebuilding, restoration or repair of the Mortgaged Property, the provisions of Paragraph 7.6 of the Credit Agreement shall determine the conditions precedent for utilizing such proceeds for such purpose and the manner for distributing such
proceeds. 

 ARTICLE 9. 
  
 Fixtures 
  
 9.1 Security Interest: This Deed of Trust (a) shall be construed as a deed of trust on real property and (b) shall also constitute and serve as a
“security agreement” on the Fixtures within the meaning of, and shall constitute until the grant of this Deed of Trust shall terminate as provided in Article 2 hereinabove, a first and prior security interest under, the Uniform Commercial
Code (being Chapter 9 of the Texas Business and Commerce Code (the “Code”), as to property within the scope thereof and situated in the State of Texas) with respect to the Fixtures. To this end, Grantor has Granted,
Bargained, Conveyed, Assigned, Transferred and Set Over, and by these presents does Grant, Bargain, Convey, Assign, Transfer and Set Over, unto Beneficiary, a first and prior security interest and all of Grantor’s right, title and interest in,
to, under and with respect to the Fixtures to secure the full and timely payment of the Obligations and the full and timely performance and discharge of the Other Obligations. 
  
 9.2 Uniform Commercial Code Remedies: Beneficiary shall have all the rights, remedies and recourses with respect to
the Fixtures afforded to it by the aforesaid Uniform Commercial Code (being Chapter 9 of the Texas Business and Commerce Code, as to property within the scope thereof and situated in the State of Texas) in addition to, and not in limitation of, the
other rights, remedies and recourses afforded by the Loan Documents. 
  
 9.3 Fixture Filing: This Deed of Trust shall also constitute a “fixture filing” for the purposes of Section 9.502(b) of the Texas Business and Commerce Code. Information concerning the security interest herein granted may
be obtained at the addresses set forth on the first page hereof. For purposes of the security interest herein granted, the respective addresses of Debtor (Grantor) and Secured Party (Beneficiary) are set forth in the opening recital of this Deed of
Trust. 
  
 9.4 Foreclosure of Security Interest: If an
Event of Default shall occur, Beneficiary may elect, in addition to exercising any and all other rights, remedies and recourses set forth in Article 6 or referred to in Paragraph 9.2 hereinabove, to proceed in the manner set forth in Section 9.604
of Chapter 9 of the Texas Business and Commerce Code relating to the procedure to be followed when a security agreement covers both real and personal property. Except as otherwise set forth in this Paragraph, at any foreclosure and sale as described
in Paragraph 6.1(d) hereinabove, it shall be deemed that the Trustee proceeded under such Section 9.604 as to the Fixtures, and that such sale passed title to all of the Mortgaged Property and other property described herein to the purchaser
thereat, including without limitation the Fixtures. Beneficiary, acting by and through the Trustee or any other representative, may elect either prior to or at such sale not to proceed under such Section 9.604 by notifying Grantor of the manner in
which Beneficiary intends to proceed with regard to the Fixtures. 
  
 ARTICLE 10. 
  
 Concerning the Trustee 

 
 10.1 No Required Action: Trustee shall not be required to take any
action toward the execution and enforcement of the trust hereby created or to institute, appear in or defend any action, suit or other proceeding in connection therewith where in his opinion such action will be likely to involve him in expense or
liability, unless requested so to do by a written instrument signed by Beneficiary and, if Trustee so requests, unless Trustee is tendered security and indemnity satisfactory to him against any and 

 
all costs, expense and liability arising therefrom. Trustee shall not be responsible for the execution, acknowledgement or validity of the Loan Documents, or
for the proper authorization thereof, or for the sufficiency of the Lien purported to be created hereby, and makes no representation in respect thereof or in respect of the rights, remedies and recourses of Beneficiary. 
  
 10.2 Certain Rights: With the approval of Beneficiary, Trustee shall
have the right to take any and all of the following actions: (a) to select, employ and advise with counsel (who may be, but need not be, counsel for Beneficiary) upon any matters arising hereunder, including the preparation, execution and
interpretation of the Loan Documents, and shall be fully protected in relying as to legal matters on the advice of counsel, (b) to execute any of the trusts and powers hereof and to perform any duty hereunder either directly or through his agents or
attorneys, (c) to select and employ, in and about the execution of his duties hereunder, suitable accountants, engineers and other experts, agents and attorneys-in-fact, either corporate or individual, not regularly in the employ of Trustee, and
Trustee shall not be answerable for any act, default or misconduct of any such accountant, engineer or other expert, agent or attorney-in-fact, if selected with reasonable care, or for any error of judgment or act done by Trustee in good faith, or
be otherwise responsible or accountable under any circumstances whatsoever, except for Trustee’s gross negligence or bad faith and (d) any and all other lawful action as Beneficiary may instruct Trustee to take to protect or enforce
Beneficiary’s rights hereunder. Trustee shall not be personally liable in case of entry by him, or anyone entering by virtue of the powers herein granted him, upon the Mortgaged Property for debts contracted or liability or damages incurred in
the management or operation of the Mortgaged Property. Trustee shall have the right to rely on any instrument, document or signature authorizing or supporting any action taken or proposed to be taken by him hereunder, believed by him in good faith
to be genuine. Trustee shall be entitled to reimbursement for expenses incurred by him in the performance of his duties hereunder and to reasonable compensation for such of his services hereunder as shall be rendered. Grantor will, from time to
time, pay the compensation due hereunder to Trustee and reimburse Trustee for, and save him harmless against, any and all liability and expenses which may be incurred by him in the performance of his duties. 
  
 10.3 Retention of Moneys: All moneys received by Trustee shall, until
used or applied as herein provided, be held in trust for the purposes for which they were received, but need not be segregated in any manner from any other moneys (except to the extent required by law) and Trustee shall be under no liability for
interest on any moneys received by him hereunder. 
  
 10.4
Successor Trustees: Trustee may resign by the giving of notice of such resignation in writing to Beneficiary. If Trustee shall die, resign or become disqualified from acting in the execution of this trust, or shall fail or refuse to execute
the same when requested by Beneficiary so to do, or if, for any reason, Beneficiary shall prefer to appoint a substitute trustee to act instead of the aforenamed Trustee, Beneficiary shall have full power to appoint a substitute trustee and, if
preferred, several substitute trustees in succession who shall succeed to all the estate, rights, powers and duties of the aforenamed Trustee. Such appointment may be executed by any authorized agent of Beneficiary, and if such Beneficiary be a
corporation and such appointment be executed in its behalf by any officer of such corporation, such appointment shall be conclusively presumed to be executed with authority and shall be valid and sufficient without proof of any action by the Board
of Directors or any superior officer of the corporation. Grantor hereby ratifies and confirms any and all acts which the aforenamed Trustee, or his successor or successors in this trust, shall do lawfully by virtue hereof. 
  
 10.5 Perfection of Appointment: Should any deed, conveyance or
instrument of any nature be required from Grantor by any successor Trustee to more fully and certainly vest in and confirm to such new Trustee such estates, rights, powers and duties, then, upon request by such Trustee, any and all such deeds,
conveyances and instruments shall be made, executed, acknowledged and delivered and shall be caused to be recorded and/or filed by Grantor. 

 10.6 Succession Instruments: Any new Trustee appointed pursuant to any of the provisions hereof
shall, without any further act, deed or conveyance, become vested with all the estates, properties, rights, powers and trusts of its or his predecessor in the rights hereunder with like effect as if originally named as Trustee herein; but
nevertheless, upon the written request of Beneficiary or of the successor Trustee, the Trustee ceasing to act shall execute and deliver an instrument transferring to such successor Trustee, upon the trusts herein expressed, all the estates,
properties, rights, powers and trusts of the Trustee so ceasing to act, and shall duly assign, transfer and deliver any of the property and moneys held by such Trustee to the successor Trustee so appointed in its or his place. 
  
 10.7 No Representation by Trustee or Beneficiary: By accepting or
approving anything required to be observed, performed or fulfilled or to be given to Trustee or Beneficiary pursuant to the Loan Documents, including (but not limited to) any officer’s certificate, balance sheet, statement of profit and loss or
other financial statement, survey, appraisal or insurance policy, neither Trustee nor Beneficiary shall be deemed to have warranted, consented to, or affirmed the sufficiency, legality, effectiveness or legal effect of the same, or of any term,
provision or condition thereof, and such acceptance or approval thereof shall not be or constitute any warranty, consent or affirmation with respect thereto by Trustee or Beneficiary. 
  
 ARTICLE 11. 
  
 Miscellaneous 
  
 11.1 Beneficiary’s Right to Perform the Obligations: If Grantor shall fail, refuse or neglect to make any payment or perform any act required
by this Deed of Trust then at any time thereafter, and without notice to or demand upon Grantor and without waiving or releasing any other right, remedy or recourse Beneficiary may have because of same, Beneficiary may (but shall not be obligated
to) make such payment or perform such act for the account of and at the expense of Grantor, and shall have the right to enter upon the Land and into the Buildings for such purpose and to take all such action thereon and with respect to the Mortgaged
Property, as it may deem necessary or appropriate. If Beneficiary shall elect to pay any Imposition or other sums due with reference to the Mortgaged Property, Beneficiary may do so in reliance on any bill, statement or assessment procured from the
appropriate Governmental Authority or other issuer thereof without inquiring into the accuracy or validity thereof. Similarly, in making any payments to protect the security intended to be created by this Deed of Trust, Beneficiary shall not be
bound to inquire into the validity of any apparent or threatened adverse title, lien, encumbrance, claim or charge before making an advance for the purpose of preventing or removing the same. GRANTOR SHALL INDEMNIFY BENEFICIARY FOR ALL LOSSES,
EXPENSES, DAMAGE, CLAIMS AND CAUSES OF ACTION, INCLUDING REASONABLE ATTORNEYS’ FEES, INCURRED OR ACCRUING BY REASON OF ANY ACTS PERFORMED BY BENEFICIARY PURSUANT TO THE PROVISIONS OF THIS PARAGRAPH OR BY REASON OF ANY OTHER PROVISION IN THIS
DEED OF TRUST. All sums paid by Beneficiary pursuant to this Paragraph, and all other sums expended by Beneficiary to which it shall be entitled to be indemnified, together with interest thereon at the maximum rate allowed by law from the date of
such payment or expenditure, shall be deemed made at the instance of Grantor, shall constitute additions to the Obligations, shall be secured by the Liens created by this Deed of Trust and shall be paid by Grantor to Beneficiary upon demand.
Interest under this Paragraph shall be computed at the Default Rate. 
  
 11.2 Survival of Other Obligations: Each and all of the Other Obligations shall survive the execution and delivery of the Loan Documents, and the consummation of the loan called for therein, and shall continue in full force and
effect until the Obligations shall have been paid in full. 

 11.3 Further Assurances: Grantor, upon the request of Trustee, will execute, acknowledge, deliver
and record and/or file such further instruments and do such further acts as may be necessary, desirable or proper to carry out more effectively the purpose of this Deed of Trust and to subject to the Liens hereof any property intended by the terms
hereof to be covered thereby, including specifically but without limitation, any renewals, additions, substitutions, replacements, betterments or appurtenances to the then Mortgaged Property. 
  
 11.4 Recording and Filing: Grantor will cause this Deed of Trust and
all amendments, modifications and supplements hereto and substitutions herefor to be recorded, filed, re-recorded and refiled in such manner and in such places as Trustee or Beneficiary shall reasonably request, and will pay all such recording,
filing, re-recording and refiling taxes, fees and other charges. 
  
 11.5 Notices: All notices or other communications required or permitted to be given pursuant to this Deed of Trust shall be in writing and shall be considered as properly given if mailed by first class United States mail, postage
prepaid, registered or certified with return receipt requested, or by delivering same in person to the intended addressee or by prepaid telegram. Notice so mailed shall be effective upon its deposit. Notice given in any other manner shall be
effective only if and when received by the addressee. For purposes of notice, the addresses of the parties shall be as set forth in and the opening recital of this Deed of Trust; provided, however, that either party shall have the right to change
its address for notice hereunder to any other location within the continental United States by the giving of thirty (30) days’ notice to the other party in the manner set forth hereinabove. 
  
 11.6 Compliance with Usury Laws: Reference is hereby made to the
provisions of the Credit Agreement regarding compliance with usury laws. Such provisions are hereby incorporated herein by this reference. 
  
 11.7 No Waiver: Any failure by Trustee or Beneficiary to insist, or any election by Trustee or Beneficiary not to insist, upon strict performance
by Grantor of any of the terms, provisions or conditions of the Loan Documents shall not be deemed to be a waiver of same or of any other terms, provision or condition thereof and Trustee or Beneficiary shall have the right at any time or times
thereafter to insist upon strict performance by Grantor of any and all of such terms, provisions and conditions. 
  
 11.8 [Intentionally Omitted] 
  
 11.9 Covenants Running with the Land: All Other Obligations contained in this Deed of Trust are intended by the parties to be, and shall be
construed as, covenants running with the Mortgaged Property until this Deed of Trust is released by Beneficiary. 
  
 11.10 Successors and Assigns: All of the terms of this Deed of Trust shall apply to, be binding upon and inure to the benefit of the parties
hereto, their successors, assigns, heirs and legal representatives, and all other persons claiming by, through or under them. 
  
 11.11 Severability: If any provision of this Deed of Trust or the application thereof to any person or circumstance shall, for any reason and to
any extent, be invalid or unenforceable, then neither the remainder of this Deed of Trust in which such provision is contained nor the application of such provision to other persons or circumstances shall be affected thereby, but rather shall be
enforced to the greatest extent permitted by law. 
  
 11.12
Modification: The Loan Documents contain the entire agreements between the parties relating to the subject matter hereof and thereof and all prior agreements relative thereto which are not contained herein or therein are terminated. The Loan
Documents may not be amended, revised, waived, 

 
discharged, released or terminated orally but only by a written instrument or instruments executed by the party against which enforcement of the amendment,
revision, waiver, discharge, release or termination is asserted. Any alleged amendment, revision, waiver, discharge, release or termination which is not so documented shall not be effective as to any party. 
  
 11.13 Release: If all the Obligations has been paid and all the Other
Obligations required to have been performed at such time have been performed, then the Lien created by this Deed of Trust shall be released by Beneficiary upon request of Grantor, at Grantor’s cost and expense, by instrument reasonably
satisfactory to Beneficiary. 
  
 11.14 Applicable Law: This
Deed of Trust shall be governed by and construed according to the internal laws of the State of Texas from time to time in effect, without giving affect to its choice of law principles. 
  
 11.15 Headings: The Article, Paragraph and Subparagraph entitlements hereof are inserted for convenience of reference
only and shall in no way alter, modify or define, or be used in construing, the text of such Articles, Paragraphs or Subparagraphs. 
  
 11.16 Gender and Plurals: In this Deed of Trust, whenever the context so requires, the masculine gender includes the feminine or neuter, and the
singular number includes the plural, and conversely. 
  
 11.17
Credit Agreement: Reference is hereby made for all purposes to the Credit Agreement. In event of a conflict between the terms and provisions hereof and the Credit Agreement, this Deed of Trust shall govern. 
  
 EXECUTED as of the date first above written. 
  

			
	SPANSION LLC
		
	By:	 	 /s/ Andrea Rubin

	Name:	 	Andrea Rubin
	Title:	 	Assistant Secretary

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