Document:

Rental Agreement dated February 7, 2006

 Exhibit 10.6 
 STATE OF GEORGIA 
 COUNTY OF FULTON: 
 RENTAL AGREEMENT

 THIS RENTAL AGREEMENT, (hereinafter referred to as “Agreement”), is made and entered into as of this February 7, 2006,
(hereinafter referred to as the “Effective Date”), by and between the Board of Regents of the University System of Georgia by an on behalf of the Georgia Institute of Technology/Advance Technology Development Center, (hereinafter
referred to as “Landlord”), whose address for purposes of this Agreement is 75 Fifth Street, NW, Suite 100, Atlanta, Georgia 30308 and, CardioMems, Inc, (hereinafter referred to as “Tenant”), whose address for purposes of
this Agreement is 311 Ferst Drive, NW, Suite L1325,1370,L1332,L1335,L1328, Atlanta, GA 30332. 
 WITNESSETH: 
 PREMISES 
 1. For and in consideration of the rental, terms, provisions and
conditions hereinafter set forth to be kept and performed by Tenant, Landlord hereby rents unto Tenant, and Tenant hereby takes and hires from Landlord, upon the terms, provisions, and conditions hereinafter set forth, the following described real
property (hereinafter referred to as “Premises”): 
 Suite
L1325,1370,L1332,L1335,L1328            2756.48 square feet of office space and lab space 
 in the buildings known as the Advanced Technology Development Center located 311 Ferst Dr., N.W., on the campus of the Georgia Institute of Technology, Atlanta, Georgia. Tenant shall have reasonable access to restrooms, conference rooms,
and loading dock facilities on a first-come, first-serve basis. A conference room calendar will be maintained at 311 Ferst Dr., NW, , Atlanta, Georgia 30332. 
 USE OF PREMISES 
 2.1 Tenant shall use the Premises solely for the purposes of Tenant must obtain the prior written approval
of Landlord for any other use of the Premises. At Tenant’s own expense, Tenant shall promptly comply with all building code and other requirements of any local, state or federal law or regulation required by Tenant’s occupancy of the
Premises. 
 2.2 Tenant shall not (i) use the Premises for any illegal purpose, nor for any purpose that is injurious to the health, safety, and welfare
of the public or that may jeopardize Tenant’s insurance coverage of the Premises; or (ii) commit, or suffer to be committed, any waste in or on the Premises; or (iii) create or permit any nuisance in or on the Premises. Tenant hereby
covenants to Landlord that no hazardous substances, as defined by any federal, state, or local law, will be used or generated on the Premises without prior written notice to Landlord and without strict compliance with all local, state, and federal
laws and regulations regarding the same. 
 2.3 Tenant accepts the demised premises in their present condition and as suited for the use intended by Tenant.

 RENTAL TERM 
 3.1 The Rental Term of this Agreement shall
be ninety (90) days commencing on March 1, 2006. 
 3.2 Ten days prior to the expiration of the current term, the Rental Term shall be
automatically renewed for an additional ninety 90(ninety) days unless termination notification is provide by the Landlord or by the Tenant. 

 3.3 At any point in the initial or subsequent Rental Terms, the Landlord may give 90(ninety) days notice of lease
termination or Tenant may give 60(sixty) days notice of lease termination without penalty. 
 RENTAL 
 4.1 For and as rental for the Premises, Tenant agrees to pay Landlord, on or before the first day of each month of the term of this Agreement, a monthly rental of
$5024.44 ($5024.44 dollars), calculated upon the following formula, and to keep and perform each and every provision of this Agreement required to be kept and performed by Tenant, each of which shall constitute rental for the Premises.

 $22.00 for Lab and $21.00 for office per square foot per year for 2756.48 square feet of office space 
 4.2 Tenant shall pay to Landlord promptly all rent, and all other charges as provided by this Agreement, as the same become due and payable without offset, deduction,
notice or demand. If such sums are not paid within five (5) days of the due date of such sum, Tenant shall pay to Landlord, as additional rent, a late fee of $100.00. If rent is not received by the 15th of the month, a charge equal to 1.5 per cent of such overdue sum shall be incurred. If any check delivered by Tenant to Landlord is dishonored, Tenant
shall pay to Landlord a charge equal to the maximum amount lawfully charged for dishonored checks. Any payment made by a dishonored check shall be deemed to be late. Returned checks may not be redeemed by a personal check, but must be redeemed by
cash, cashier’s check, certified check or money order. All charges under this section 4.2 shall be deemed to constitute additional rent due and payable upon notice from Landlord to Tenant, and Landlord shall have all the rights and remedies
with respect thereto as Landlord has for the nonpayment of rent. 
 4.3 Checks shall be made payable to the Georgia Institute of Technology and shall
be sent to the attention of the, Advanced Technology Development Center, 75 Fifth Street, NW, Suite 100,Atlanta, Georgia 30308. 
 SECURITY DEPOSIT 
 5.1 As security for the full and faithful performance by Tenant of each and every one of its duties and obligations under this
Agreement, Tenant agrees to deposit with Landlord on the date hereof, and to maintain at all times with Landlord during the entire term of this Agreement, a security deposit in cash in an amount equal to one month’s rental. 
 5.2 Upon default by Tenant of any of its obligations under this Agreement, not cured within fifteen (15) days of the date of such written notice of default,
Landlord may use, apply or retain the whole or any part of the security deposit for the payment of any rent in default, or for any expenditure made by Landlord by reason of Tenant’s default of any of Tenant’s obligations of this Agreement,
including, but not limited to, any damages or deficiency due to reletting of the Premises, whether such damages or deficiency accrue before or after summary proceedings or other reentry by Landlord. In the event Landlord uses, applies, or retains
the whole or any part of Tenant’s security deposit, Tenant shall pay to Landlord immediately such amount that will fulfill Tenant’s obligation hereunder to maintain at all times a security deposit equal to one month’s rental.

 5.3 If upon the termination of this Agreement, Tenant shall have kept all of its duties and obligations hereunder, Landlord shall return to Tenant all the
security so deposited with Landlord. 
 PARKING 
 6.1 Landlord
shall provide to Tenant at Tenant’s expense parking decals for employees in a lot in close proximity to the building. 
 6.2 Tenant shall comply
with all parking rules and regulations of the Georgia Institute of Technology, including the registration of all vehicles of Tenant used on the Georgia Institute of Technology campus, at Tenant’s expense. 

 TENANT BUSINESS RECORDS 
 7.
Immediately following the end of every fiscal year, during the term of this Agreement (unless specified otherwise), Tenant shall provide to Landlord the following information, which shall be treated by Landlord as confidential and proprietary to the
extent allowed by applicable law(note:a,b, and c are only required for ATDC Member Companies): 
 a. Current business plan. 
 b. Financial statements including balance sheet and income statement. This information shall be provided at the end of each quarter during Tenant’s
fiscal year. 
 c. Statement of ownership of company, including number of shares of stock, by class, held by each owner. 
 d. Employment data for the following; 
 i.
Number of employees 
 ii. Names of employees. 
 iii. Names of members of boards of directors. 
 iv. Tag number of all employee vehicles that are registered
with the Georgia Institute of Technology for parking. 
 UTILITIES 
 8.1 Landlord shall be responsible for the payment of all utility bills for normal office use of the Premises by Tenant, including water, sewer, natural gas. Normal office use of electricity shall include use of computer terminals, desk
calculators, and lab testing equipment using not more than 110 volts, 15 amps power. Landlord retains the option to meter separately or to estimate any utility usage in excess of normal office use, and Tenant shall be exclusively responsible for
payment of the such excess usage. Tenant shall be solely responsible for obtaining, maintaining, and paying for telephone service for the Premises. 
 8.2
Heating, ventilating and air conditioning systems shall be kept operating by Landlord during normal business hours Monday through Friday. 
 8.3 Landlord
shall provide a garbage receptacle and garbage pick-up at Landlord’s expense. Landlord shall provide janitorial service for the Premises. 
 8.4
Landlord’s obligations under this paragraph 8 are subject to reduction depending upon the availability of funds appropriated for the purposes herein. 
 MAINTENANCE AND REPAIRS 
 9.1 Landlord agrees to maintain and keep in good repair the roof, foundations, and exterior walls of the building in which
the Premises are located, and the structure of the walls surrounding the Premises, exclusive of any repairs made necessary by the actions of Tenant or Tenant’s agents, employees, or invitees. 
 9.2 Landlord gives to Tenant exclusive control of the Premises and shall not be required to supply any maintenance or repair to or for the Premises or to inspect the
same. Tenant shall report promptly to Landlord all items which Tenant contends Landlord is under a duty to provide maintenance and repair. 
 9.3 Tenant
shall not make improvements or alterations to the Premises without the prior express written consent of Landlord, which consent will not be unreasonably withheld. Any such improvements or alterations approved by Landlord must comply with all
existing federal, state, and local laws and must be maintained and 

 
repaired by Tenant. Upon the expiration or termination of this Agreement, all improvements or additions placed in or erected on the Premises by Tenant,
whether or not affixed or attached to the Premises, shall vest in and become the property of Landlord, without further notice, action taken, or instrument executed; provided, however, Tenant may remove all of Tenant’s personal property from the
Premises on or before the expiration or termination of this Agreement. Tenant shall repair all damage to the Premises resulting from the removal of Tenant’s personal property. Tenant agrees that all of Tenant’s personal property in or on
the Premises is located there at Tenant’s risk and Landlord shall not be liable for any damage thereto or loss thereof. 
 9.4 Any property acquired by
Tenant through Landlord or acquired by Landlord for the use of Tenant shall become and remain the property of Landlord and shall not be removed by Tenant, or its employees, agents, licensees, or invitees, from the Premises. 
 9.5 Landlord’s obligations under this paragraph 9 are subject to reduction depending upon the availability of funds appropriated for the purposes herein.

 INSPECTION 
 10. Tenant shall permit Landlord, its agents and
employees, without prior notice, to enter into and upon the Premises at all reasonable times for the purpose of inspecting the Premises and making any necessary repairs or alterations to electrical wiring, heating and cooling systems, or plumbing,
and other similar repairs and alterations. 
 INSURANCE AND INDEMNITY 
 11.1 Indemnification Agreement: 
 Tenant hereby waives, releases, relinquishes, discharges and agrees to indemnify, protect, save harmless, the
Georgia Institute of Technology, the Board of Regents, the State of Georgia and its departments, agencies and instrumentalities (including the State Tort Claims Trust Fund, the State Authority Liability Trust Fund, the State Employee Broad Form
Liability Fund, the State Insurance and Hazard Reserve Fund, and other self insured funds, hereinafter collectively referred to as the “Fund”) and all of their respective officers, employees, directors and agents (hereinafter collectively
referred to as the “Indemnitees”) of and from any and all claims, demands, liabilities, losses, costs or expenses for any loss including but not limited to bodily injury (including death), personal injury, property damage, expenses, and
attorneys’ fees, caused by, growing out of, or otherwise happening in connection with this contact, due to any act or omission (whether intentional or negligent) on the part of the Tenant, it’s agents, employees or others working at the
direction of Tenant or on its behalf, or due to any breach of this contract by the Tenant, or due to the application or violation of any pertinent Federal, State, or local law, rule or regulation. This indemnification extends to the successors and
assigns of the Tenant, an this indemnification survives the termination of the contract and the dissolution or, to the extent allowed by law, the bankruptcy of the Tenant. If and to the extent such damage or loss (including costs and expenses as
covered by this indemnification is covered by the Fund established and maintained by the State of Georgia Department of Administrative Services (DOAS), the Tenant agrees to reimburse the Fund for such monies paid out of the Fund. 
 11.1.1 This indemnification applies whether: (a) the activities involve third parties or employees or agents of the Tenant or of the Indemnitees. 
 11.1.2 This indemnification does not apply to the extent of the sole negligence of the Indemnitees. This indemnification is subject to an overall limitation of
$3,000,000.00 so long as the insurance required in Section 11.2.2(a) is in full force and effect. 
 11.1.3 To the full extent permitted by the
Constitution and the laws of the State of Georgia and the terms of the Fund, the Tenant and its insurers waive any right of subrogation against the Indemnitees, the Fund and insurers participating thereunder, to the full extent of this
indemnification. 

 11.2 Insurance Requirements: 
 11.2.1 Insurance Certificates. The Tenant shall procure the insurance policies identified below at the Tenant’s own expense and shall furnish the Georgia Advanced Technology Ventures an insurance certificate listing the agency
as the certificate holder. The insurance certificate must document that the liability insurance coverage purchased by the Tenant includes contractual liability coverage to insure the indemnity agreement as stated. In addition, the insurance
certificate must provide the following: 
  

	(a)	Name and address of authorized agent 

  

	(b)	Name and address of insured 

  

	(c)	Name of insurance company 

  

	(d)	Description of coverage in standard terminology 

  

	(e)	Policy name 

  

	(f)	Policy number 

  

	(g)	Limits of liability 

  

	(h)	Name and address of Landlord as certificate holder 

  

	(i)	Acknowledgment of notice of cancellation to Landlord 

  

	(j)	Signature of authorized agent 

  

	(k)	Telephone number of authorized agent 

  

	(1)	Details of special policy exclusions in comments section of Certificate 

 11.2.2 Insurance Coverages. The Tenant also agrees to purchase and have the authorized agent state on the insurance certificate that the following types of insurance coverages, issued pursuant to O.C.G.A. Section 50-21-37, have
been purchased by the Tenant: 
 (a) Commercial General Liability Insurance Policy (CGL). Tenant shall procure and maintain a primary
Commercial General Liability Insurance Policy, including products and completed operation liability and contractual liability coverage, with limits of not less than $1,000,000 per person and $3,000,000 per occurrence covering bodily injury, property
damage liability and personal injury. The policy or policies shall name the officers, agents, and employees of the Advanced Technology Development Center as additional insureds, but only with respect to claims which are not covered by the Georgia
Tort Claims act, O.C.G.A. Section 50-21-20 et seq. The CGL policy must provide primary limits over any other liability policy provided by the State for any claims not covered by the Georgia Tort Claims Act. However, the CGL policy must
indemnify the State for any claims covered by the Georgia Tort Claims Act. The policy of policies must be on an “occurrence” basis unless waived by the State. The CGL policy shall include contractual liability coverage, which shall be
endorsed to state that indemnity obligations specified in this agreement are insured by the carrier. The CGL policy purchased by the Tenant must be issued by a company authorized to conduct business in the State of Georgia or by a company acceptable
to the State if the company is an alien insurer. The CGL policy must be endorsed to include separate aggregate limits per project. 
 (b)
Tenant is responsible for insuring at its sole expense its own property which may be brought upon the Premises, and subtenant shall be responsible for insuring any of their property brought upon the Premises. 
 DESTRUCTION OR DAMAGE TO PREMISES 
 12.1 If the Premises are totally
destroyed or rendered untenantable by storm, fire, earthquake, hurricane, or other natural catastrophe, this Agreement shall terminate as of the date of such total destruction or untenantability, with no obligation of Landlord to rebuild or provide
other rental premises for Tenant. Any rental or other obligations accrued by or to the parties to this Agreement shall be accounted for between Landlord and Tenant as of the date when the Premises were destroyed or rendered untenantable. 

12.2 If the Premises are partially destroyed or rendered partially untenantable by storm, fire, earthquake, hurricane, or other natural catastrophe, Tenant shall have
the option to elect either to terminate this Agreement by written notice to Landlord in accordance with Paragraph 24 or to continue this Agreement in force with an appropriate abatement of rent and without obligation of Landlord to repair, restore,
or rebuild the Premises at any time, even if Tenant elects to continue this Agreement. The Premises shall be considered partially destroyed or rendered partially untenantable when at least ten per cent (10%) but less than one hundred per cent
(100%) of the Premises are destroyed or rendered untenantable. 

 TRANSFER, SUBLETTING AND ASSIGNMENT 
 13. Tenant shall not transfer, assign, or sublet this Agreement or any right or privilege of Tenant under this Agreement without the prior, express, written consent of Landlord. Landlord, in its sole discretion, may withhold or refuse to
give its consent to any proposed transfer, subletting, or assignment and to any proposed use or occupancy by any party other than Tenant. Any transfer, subletting, or assignment without the prior, express, written consent of Landlord shall be void
and shall, at the option of Landlord terminate this Agreement. Landlord’s consent to one transfer, subletting, assignment, use or occupancy of the Premises by a party other than Tenant shall not constitute a waiver of Landlord’s rights in
this Paragraph, and each subsequent transfer, subletting, assignment, use or occupancy of the Premises by a party other than Tenant shall require Landlord’s consent in accordance with this Paragraph. 
 DEFAULT 
 14.1 If Tenant defaults in the payment of monetary rental or any
other monetary obligation to Landlord and remains in default for ten (10) calendar days after the date of service of notice of such default by Landlord on Tenant; or if Tenant defaults in the performance of any other covenant or provision of
this Agreement required to be complied with by Tenant and remains in default for thirty (30) calendar days after the date of service of notice of such default by Landlord on Tenant; or if Tenant defaults in the payment of any monetary
obligation to Landlord’s cooperative organization, the Advanced Technology Development Center (hereinafter referred to as “ATDC”), including without limitation the L-Account Agreement between Tenant and GTRC dated, and remains in
default for ten (10) calendar days after the date of service of notice of such default by GTRC; then, in any such event, Landlord may at once terminate this Agreement by written notice to Tenant. 
 14.2 Upon such termination, Tenant shall surrender the Premises to Landlord and remove all personal property from the same and, without requiring legal action to be
taken by Landlord, Landlord may enter in and upon the Premises and take immediate possession and control of the Premises to the complete exclusion of Tenant. Landlord’s failure to exercise its rights after one or more defaults of Tenant shall
not be construed as a waiver of Landlord’s rights upon any subsequent default. 
 EXTERIOR SIGNS 
 15. Tenant shall not place signs or displays off the Premises, including the roof, exterior doors, and exterior walls of the building in which the Premises are located,
or in the windows of the Premises without the prior, express, written consent of Landlord, which consent will not be unreasonably withheld. 
 FIXTURES AND
PERSONAL PROPERTY 
 16. Tenant may install and operate in and on the Premises such fixtures and personal property as is required for Tenant’s permitted
use of the Premises, subject to the prior, express, written approval of Landlord. 
 ENTRY OF LANDLORD FOR RELETTING 
 17. During the sixty (60) day period immediately preceding the termination of this Agreement, Landlord may enter the Premises at any time to show the Premises to
prospective tenants. 
 NO ESTATE 
 18. This Agreement shall
create the relationship of landlord and tenant, otherwise known as a usufruct, and no estate shall pass from landlord. Tenant’s interest in this rental agreement is not subject to levy and sale. 

 TERMINATION AND NO HOLDING OVER 
 19.1 Tenant shall vacate the Premises promptly upon termination of this Agreement. Any holding over or continued use or occupancy of the Premises by Tenant after termination of this Agreement without the express written consent of Landlord
shall not constitute a Tenancy-At-Will, but Tenant shall be a Tenant-At-Sufferance and shall be required to vacate the Premises immediately without notice. There shall be no renewal or extension of the term of this Agreement by operation of law.
Tenant agrees that the provisions of O.C.G.A. §44-7-50 et. seq. shall apply, permitting summary dispossession. 
 19.2 Tenant shall retain the
option to terminate this Agreement at any time by giving written notice of exercising such option to terminate. Such termination by Tenant shall not be effective until ninety (90) days following proper notice. 
 19.3 Upon any such termination, Tenant shall surrender the Premises to Landlord and remove all personal property from the same and, without requiring legal action to be
taken by Landlord, Landlord may enter in and upon the Premises and take immediate possession and control of the Premises to the complete exclusion of Tenant. 
 19.4 Tenant agrees to return the premises to the Landlord upon the expiration or termination of this rental agreement in as good condition and repair as when first received; normal wear and tear, excepted. 
 NO ABANDONMENT 
 20. Tenant shall occupy the Premises continuously throughout
the term of this Agreement and shall not for any cause whatsoever, unless otherwise specifically permitted under this Agreement, desert, surrender, abandon, or cease operation of the Premises during the term of this Agreement. 
 RIGHTS CUMULATIVE 
 21. All rights, powers, and privileges conferred by this
Agreement shall be cumulative and not restrictive of those rights, powers, and privileges conferred by law. 
 ATTORNEYS FEES 
 22. In the event Landlord uses the services of an attorney to collect any monetary amounts required under this Agreement, Tenant shall pay ten per cent (10%) of such
amount in addition as attorneys fees. 
 NO WAIVER 
 23. No
failure of Landlord to exercise any right or power given to Landlord under this Agreement, or to insist upon strict compliance by Tenant with the provisions of this Agreement, and no custom or practice of Landlord or Tenant at variance with the
provisions of this Agreement, nor acceptance by Landlord of rent or any other payments from any person other than Tenant, shall constitute a waiver of Landlord’s right to demand exact and strict compliance by Tenant with the terms and
conditions of this Agreement. 
 NOTICES 
 24. All notices and
other communications, hereinafter collectively referred to as “notices,” required by this Agreement to be secured from or given by either party to the other party shall be in writing and the original of said notice shall be delivered
either: (a) by hand delivery to the recipient party at such party’s address; or (b) sent by United States Certified Mail - Return Receipt Requested, postage prepaid and addressed to the recipient party at such party’s address. If
sent by United States Certified Mail - Return Receipt Requested, the sender of the notice shall “show to whom, date and address of delivery” of said notice on the returned receipt. The day upon which such notice is hand delivered or so
mailed shall be deemed the date of service of such notice. Any notice, so hand delivered or mailed, the text of which is reasonably calculated to apprise the recipient party of the substance thereof, shall be deemed sufficient under this Agreement.
Either party hereto, by proper notice, may at any time and any number of times designate a different address to which notices to said party shall be given. 

			
	To Landlord:	  	To Tenant:
		
	 Advanced Technology Development Center
 75
Fifth Street, NW, Suite 100
 Atlanta, Georgia 30308
	  	 CardioMems, Inc
 311 Ferst Dr,
L1325,1370,L1332,L1335,L1328
 Atlanta, Georgia 30328

 TIME IS OF ESSENCE 
 25. Time is of the essence of this Agreement. All time limits stated herein are likewise of the essence. 
 ENTIRE AGREEMENT 
 26. This Agreement constitutes the full, complete and entire agreement between Landlord and Tenant; no agent, employee, officer or representative of Landlord or Tenant
has authority to make, or has made, any statement, agreement, representation or contemporaneous agreement, oral or written, in connection herewith modifying, adding to, or changing the covenants, terms and provisions of this Agreement. No
modification or amendment of this Agreement shall be binding unless such modification or amendment is in writing, signed by Landlord and Tenant, and by reference incorporated into this Agreement. 
 GOVERNING LAW 
 27. This Agreement shall be governed by, construed under, and
performed and enforced in accordance with the laws of the State of Georgia. 

 IN WITNESS WHEREOF, Landlord and Tenant, acting by and through their duly authorized representatives, have caused these
presents to be signed, sealed, and delivered all as of the date hereof. 
  

					
	LANDLORD
	Georgia Advanced Technology Ventures
			
	BY:	 	 /s/ Beverly D. Hutchinson
	 	L.S.
		 	Business Operations Manager
		
	TENANT	 	
	
	 /s/ Sandeep Yadav

	Name:	 		 	
	Title:	 		 	
	Date:	 		 	
	
	(Corporate Seal Affixed Here)

  

			
	Signed, sealed, and delivered as to Landlord in the presence of:	 	
		
	/s/ Melissa Faye Teske	 	3/8/06
		
	Official Witness, Notary Public	 	Date
		
	My Commission Expires:	 	Notary Public, Fayette County, GA
		 	My Commission Expires July 6, 2009
	(Notary Public Seal Affixed Here)	 	

 GUARANTY 
 On this              day of
                    , 2005, in consideration of Landlord’s agreement to enter into the above Rental Agreement with Tenant and in
recognition of Landlord’s unwillingness to enter into the Rental Agreement without this Guaranty, the undersigned Guarantor guaranties the payment of rent and performance by Tenant, Tenant’s heirs, executors, administrators, successors, or
assigns of all covenants and agreements of the above Rental Agreement. 
  

					
	GUARANTOR
		
	 /s/ Sandeep Yadav
	 	L.S.
	Name:	 		 	
	Title:	 		 	
	Date:	 		 	

  

			
	Signed, sealed, and delivered as to Landlord in the presence of:	 	
		
	/s/ Melissa Faye Teske	 	3/8/06
		
	Official Witness, Notary Public	 	Date
		
	My Commission Expires:	 	Notary Public, Fayette County, GA
		 	My Commission Expires July 6, 2009
	(Notary Public Seal Affixed Here)	 	

 [ATDC LETTERHEAD] 
 April 26, 2006 
 CardioMEMS, Inc 
 311
Ferst Drive, NW 
 Atlanta, GA 30308 
 Dear
CardioMEMS, 
 This letter will serve as Lease Amendment Number 1 to your existing lease dated February 7, 2006 
 Commencing May 1, 2006 CardioMEMS will continue to occupy suites L1332,L1328,L1335,L1325,L1370, and acquire and occupy suite L1334 (174.64 rentable square feet of
office space), at 311 Ferst Dr., NW, Atlanta, GA 30332 
 Base Monthly rental rate is $5,344.61 
 Please make your check payable to Georgia Institute of Technology 
 Your signature will serve as your agreement. If there are any questions, please feel free to contact me at 894-0331. 
 Sincerely, 
 /s/ Beverly D. Hutchinson 
 Beverly D.
Hutchinson 
 Administrative Manager 
 Guarantor Signature

 /s/ John Mills 
 Date: 07/24/06 

 [ATDC LETTERHEAD] 
 September 1, 2006 
 CardioMems, Inc. 
 311 Ferst Drive, NW 
 Atlanta, GA 30308 
 Dear CardioMems, 
 This letter will serve a Lease Amendment Number 2 to your existing lease dated February 7, 2006. 
 Commencing September 1, 2006 CardioMems will continue to occupy suites L1332,L1328,L1335,L1325,L1370, & L1334 (2931.12 rentable square fee of office
space), at 311 Ferst Dr., NW, Atlanta, GA 30332 
 Base Monthly rental rate is $5975.52 
 ($25.00 RSF for Lab space and $22.00 RSF for Office space) 
 If such sums are not paid within 5 days of the due
date a late charge equal to 5% will apply. 
 Please make your check payable to Georgia Institute of Technology 
 Your signature will serve as your agreement. If there are any questions, please feel free to contact me at 894-0331. 
 Sincerely, 
  

	
	Beverly D. Hutchinson
	Administrative Manager
	
	Guarantor Signature
	
	/s/ Sandeep Yadav
	
	Date:Loan and Security Agreement

 Exhibit 10.9 
  

 LOAN AND SECURITY AGREEMENT 
 CARDIOMEMS, INC. 
  

 TABLE OF CONTENTS 
  

							
	 	  	 	  	 	  	Page
	1	  	ACCOUNTING AND OTHER TERMS 3	  	4
			
	2	  	LOAN AND TERMS OF PAYMENT	  	4
		  	2.1	  	Promise to Pay.	  	4
		  	2.2	  	Termination of Commitment to Lend.	  	4
		  	2.3	  	Interest Rate, Payments.	  	5
		  	2.4	  	Fees.	  	6
			
	3	  	CONDITIONS OF LOANS	  	6
		  	3.1	  	Conditions Precedent to Initial Credit Extension.	  	6
		  	3.2	  	Conditions Precedent to all Credit Extensions.	  	6
			
	4	  	CREATION OF SECURITY INTEREST	  	7
		  	4.1	  	Grant of Security Interest.	  	7
		  	4.2	  	Authorization of File.	  	7
			
	5	  	REPRESENTATIONS AND WARRANTIES	  	7
		  	5.1	  	Due Organization and Authorization.	  	7
		  	5.2	  	Collateral.	  	7
		  	5.3	  	Litigation.	  	7
		  	5.4	  	No Material Adverse Change in Financial Statements.	  	8
		  	5.5	  	Solvency.	  	8
		  	5.6	  	Regulatory Compliance.	  	8
		  	5.7	  	Investments in Subsidiaries.	  	8
		  	5.8	  	Full Disclosure.	  	8
			
	6	  	AFFIRMATIVE COVENANTS	  	9
		  	6.1	  	Government Compliance.	  	9
		  	6.2	  	Financial Statements, Reports, Certificates.	  	9
		  	6.3	  	Inventory; Returns.	  	9
		  	6.4	  	Taxes.	  	9
		  	6.5	  	Insurance.	  	9
		  	6.6	  	Primary Accounts.	  	10
		  	6.7	  	Intentionally Omitted.	  	10
		  	6.8	  	Loss, Destruction or Damage.	  	10
		  	6.9	  	Further Assurances.	  	10
			
	7	  	NEGATIVE COVENANTS	  	11
		  	7.1	  	Dispositions.	  	11
		  	7.2	  	Changes in Business, Ownership, Management or Locations of Collateral.	  	11
		  	7.3	  	Mergers or Acquisitions.	  	11
		  	7.4	  	Indebtedness.	  	11
		  	7.5	  	Encumbrance.	  	11
		  	7.6	  	Distributions; Investments.	  	11
		  	7.7	  	Transactions with Affiliates.	  	12
		  	7.8	  	Subordinated Debt.	  	12
		  	7.9	  	Compliance.	  	12
			
	8	  	EVENTS OF DEFAULT	  	12
		  	8.1	  	Payment Default.	  	12
		  	8.2	  	Covenant Default.	  	12

  

 2 

							
		  	8.3	  	Material Adverse Change.	  	12
		  	8.4	  	Attachment.	  	13
		  	8.5	  	Insolvency.	  	13
		  	8.6	  	Other Agreements.	  	13
		  	8.7	  	Judgments.	  	13
		  	8.8	  	Misrepresentations.	  	13
		  	8.9	  	Guaranty.	  	13
			
	9	  	BANK’S RIGHTS AND REMEDIES	  	13
		  	9.1	  	Rights and Remedies.	  	13
		  	9.2	  	Power of Attorney.	  	14
		  	9.3	  	Bank Expenses.	  	14
		  	9.4	  	Bank’s Liability for Collateral.	  	14
		  	9.5	  	Remedies Cumulative.	  	15
		  	9.6	  	Demand Waiver.	  	15
			
	10	  	NOTICES AND WAIVERS	  	15
		  	10.1	  	Notices.	  	15
			
	11	  	CHOICE OF LAW , VENUE AND JURY TRIAL WAIVER	  	15
			
	12	  	GENERAL PROVISIONS	  	16
		  	12.1	  	Successors and Assigns.	  	16
		  	12.2	  	Indemnification.	  	16
		  	12.3	  	Time of Essence.	  	16
		  	12.4	  	Severability of Provision.	  	16
		  	12.5	  	Amendments in Writing, Integration.	  	16
		  	12.6	  	Counterparts.	  	16
		  	12.7	  	Survival.	  	16
		  	12.8	  	Confidentiality.	  	16
		  	12.9	  	Attorneys’ Fees, Costs and Expenses.	  	17
			
	13	  	DEFINITIONS	  	17
		  	13.1	  	Definitions.	  	17

  

 3 

 This LOAN AND SECURITY AGREEMENT dated as of the Effective Date, between SILICON VALLEY BANK
(“Bank”), whose address is 3003 Tasman Drive, Santa Clara, California 95054 with a loan production office located at 3343 Peachtree Road, N.E., Atlanta, Georgia 30326 and CardioMEMS, Inc., a Delaware corporation, whose address is 75 Fifth
St., Suite 205, Atlanta, GA 30308 (“Borrower”) provides the terms on which Bank will lend to Borrower and Borrower will repay Bank. The parties agree as follows: 
 1 ACCOUNTING AND OTHER TERMS 
 Accounting terms not defined in this Agreement will be construed
following GAAP. Calculations and determinations must be made following GAAP. The term “financial statements” includes the notes and schedules. The terms “including” and “includes” always mean “including (or
includes) without limitation,” in this or any Loan Document. 
 2 LOAN AND TERMS OF PAYMENT 
 2.1 Promise to Pay. 
 Borrower promises to pay Bank the
unpaid principal amount of all Credit Extensions and interest on the unpaid principal amount of the Credit Extensions. 
 2.1.1 Equipment Facility.

 (a) Subject to the terms and conditions of this Agreement, Bank agrees to lend to Borrower, from time to time prior to the Commitment
Termination Date, equipment advances (each an “Equipment Advance” and collectively the “Equipment Advances”) in an aggregate amount not to exceed the Committed Equipment Line. When repaid, the Equipment Advances may not be
re-borrowed. The proceeds of the Equipment Advances will be used solely to reimburse Borrower for the purchase of Eligible Equipment purchased within 90 days of the Equipment Advance (except for the initial Equipment Advance, to be made on the
Closing Date, which shall allow for Eligible Equipment purchased after August 31, 2003). Each Equipment Advance shall be considered a promissory note evidencing the amounts due hereunder for all purposes. Bank’s obligation to lend
hereunder shall terminate on the earlier of (i) the occurrence and continuance of an Event of Default, or (ii) the Commitment Termination Date. For purposes of this Section, the minimum amount of each Equipment Advance, including the
initial Equipment Advance, is One Hundred Thousand Dollars ($100,000) and the maximum number of Equipment Advances that will be made is eight (8), with no more than one (1) Equipment Advance being made per month. 
 (b) To obtain an Equipment Advance, Borrower will deliver to Bank a completed supplement in substantially the form attached as Exhibit B (“Loan
Supplement”) signed by a Responsible Officer or his or her designee, copies of invoices for the Financed Equipment and such additional information as Bank may request at least five (5) Business Days before the proposed funding date (the
“Funding Date”). On each Funding Date, Bank will specify in the Loan Supplement for each Equipment Advance, the Interest Rate, the Loan Factor, the Payment Dates and the Final Payment. If Borrower satisfies the conditions of each Equipment
Advance specified herein, Bank will disburse such Equipment Advance by internal transfer to Borrower’s deposit account with Bank. Each Equipment Advance may not exceed 100% of the Original Stated Cost. 
 2.2 Termination of Commitment to Lend. 
 Bank’s
obligation to lend the undisbursed portion of the credit amount to Borrower shall terminate if, in the Bank’s sole discretion, there has been a material adverse change in the general affairs, management, results of operations, condition
(financial or otherwise) or prospects of Borrower, whether or not arising from transactions in the ordinary course of business, or there has been any material adverse deviation by Borrower from the business plan of Borrower presented to and accepted
by Bank prior to the execution of this agreement. 
  

 4 

 2.3 Interest Rate, Payments. 
 2.3.1 As to Advances. 
 (a) Interest Rate. Equipment Advances accrue interest on the outstanding principal balance at
a per annum rate equal to the greater of (i) Prime Rate plus 0.75% or (ii) 4.75%. After an Event of Default and during the continuance thereof, the Equipment Advances accrue interest at 5 percent above the rate effective immediately before
the Event of Default. The interest rate increases or decreases when the Prime Rate changes; provided that the interest rate will be fixed on each Funding Date. Interest is computed on a 360 day year for the actual number of days elapsed. 

(b) Payments. Borrower will make payments monthly in advance (collectively, “Scheduled Payments”) of principal and accrued interest
for each Equipment Advance, on the first Business Day of the month following the Funding Date (or commencing on the Funding Date if the Funding Date is the first Business Day of the month) with respect to such Equipment Advance and continuing
thereafter on the first Business Day of each calendar month (each a “Payment Date”), in an amount equal to the Loan Factor multiplied by the Loan Amount for such Equipment Advance as of such Payment Date. Equipment Advances for Eligible
Equipment shall be repaid in full in equal monthly installments over the Repayment Period. All unpaid principal and accrued interest is due and payable in full on the last Payment Date with respect to such Equipment Advance (the “Maturity
Date”). Payments received after 3:00 p.m. Eastern time are considered received at the opening of business on the next Business Day. When a payment is due on a day that is not a Business Day, the payment is due the next Business Day and
additional interest shall accrue. 
 (c) Final Payment. On the Maturity Date with respect to each Equipment Advance, Borrower will
pay, in addition to the unpaid principal and accrued interest and all other amounts due on such date with respect to such Equipment Advance, an amount equal to the Final Payment. 
 (d) Prepayment Upon an Event of Loss. If any Financed Equipment is subject to an Event of Loss and Borrower is required to or elect to prepay the
Equipment Advance with respect to such Financed Equipment pursuant to Section 6.8, then such Equipment Advance shall be prepaid to the extent and in the manner provided in such section. 
 (e) Mandatory Prepayment Upon an Acceleration. If the Equipment Advances are accelerated following the occurrence of an Event of Default (other
than following an Event of Loss), then Borrower will immediately pay to Bank without duplication, (i) all unpaid Scheduled Payments (including principal and interest) with respect to each Equipment Advance which are scheduled to be paid prior
to the occurrence of an Event of Default, (ii) all remaining Scheduled Payments of principal, (iii) the Final Payment and (iv) all other sums, if any, that shall have become due and payable with respect to any Equipment Advance,
including, without limitation, interest on the unpaid balance of the Equipment Advances at the Default Rate from the date of the occurrence of such Event of Default until repayment in full of the Obligations. 
 (f) Voluntary Prepayment. Borrower may prepay the Equipment Advances in whole or in part at any time without penalty or premium. At the time
Borrower voluntarily prepays any Equipment Advance, it will also pay (i) all accrued interest on the amount prepaid to the date of prepayment, (ii) a pro-rate portion of the Final Payment equal to the Final Payment Percentage multiplied by
the amount prepaid, and (iii) all other sums, if any, that shall have become due and payable with respect to such Equipment Advance. All partial prepayments shall be applied in inverse order of maturity. 
  

 5 

 2.3.2 Agreements Concerning Interest and Other Charges 
 Borrower and the Bank agree that the only charges imposed or to be imposed by Bank upon Borrower for the use of money in connection with the Obligations
is and will be the interest required to be paid under the provisions of this Agreement as well as the related provisions of the Loan Documents. The amount of interest due and payable under this Agreement or the Loan Documents will not exceed the
maximum rate of interest allowed by applicable law and, if any payment is made by Borrower or received by Bank in excess of such payment, such sum shall be credited as a payment of principal. It is the express intent that Borrower not pay and the
Bank not receive, directly or indirectly or in any manner, interest in excess of that which may be lawfully paid under applicable law. All interest and other charges, fees or other amounts deemed to be interest which are paid or agreed to be paid to
Bank under this Agreement or the Loan Documents shall, to the maximum extent permitted by applicable law, be amortized, allocated and spread on a pro-rata basis throughout the entire actual term of the Obligations. Any and all fees payable
under this Agreement are not intended, and will not be deemed to be interest or a charge for use of money, but rather will constitute an “other charge” within the meaning of O.C.G.A. 7-4-2(a)(1). 
 2.3.3 Request to Debit Accounts. 
 Bank may debit any
of Borrower’s deposit accounts including Account Number                  for principal and interest payments or any amounts Borrower owes Bank when due. Bank
will notify Borrower when it debits Borrower’s accounts. These debits are not a set-off. 
 2.4 Fees. 
 Borrower will pay all Bank Expenses (including reasonable attorneys’ fees and reasonable expenses) incurred through and after the date of this
Agreement, when due. Notwithstanding anything to the contrary with the forgoing, Bank agrees that Borrower’s liability for attorney’s fees for the documentation of the initial Loan Documents will not exceed $6,000.00. 
 3 CONDITIONS OF LOANS 
 3.1 Conditions Precedent to Initial
Credit Extension. 
 Bank’s obligation to make the initial Credit Extension is subject to the condition precedent that it receive
the agreements, documents and fees it requires. 
 3.2 Conditions Precedent to all Credit Extensions. 
 Bank’s obligations to make each Credit Extension, including the initial Credit Extension, is subject to the following: 
 (a) timely receipt of any Payment/Advance Form; and 
 (b) the representations and warranties in Section 5 must be materially true on the date of the Payment/Advance Form and on the effective date of each Credit Extension and no Event of Default may have occurred and be continuing, or
result from the Credit Extension. Each Credit Extension is Borrower’s representation and warranty on that date that the representations and warranties of Section 5 remain true in all material respects. 
  

 6 

 4 CREATION OF SECURITY INTEREST 
 4.1 Grant of Security Interest. 
 Borrower grants Bank a continuing security interest in all presently
existing and later acquired Collateral to secure all Obligations and performance of each of Borrower’s duties under the Loan Documents. Except for Permitted Liens, any security interest will be a first priority security interest in the
Collateral. If this Agreement is terminated, Bank’s lien and security interest in an item of Collateral will continue until Borrower fully satisfies its Obligations with respect to such Collateral. Upon the payment in full of all amounts due
under this Agreement and all other Obligations, Bank shall, at the cost and expense of Borrower, execute and deliver to Borrower all such documents and instruments as shall be necessary to evidence termination of this Agreement and the security
interests created hereunder. 
 4.2 Authorization of File. 
 Borrower authorizes Bank to file financing statements without notice to Borrower, with all appropriate jurisdictions, as Bank deems appropriate, in order to perfect or protect Bank’s interest in the Collateral.

 5 REPRESENTATIONS AND WARRANTIES 
 Borrower represents and warrants as follows: 
 5.1 Due Organization and Authorization. 
 Borrower and each Subsidiary is duly existing and in good standing in its state of formation and qualified and licensed to do business in, and in good
standing in, any state in which the conduct of its business or its ownership of property requires that it be qualified, except where the failure to do so could not reasonably be expected to cause a Material Adverse Change. Borrower has not changed
its state of formation or its organizational structure or type or any organizational number (if any) assigned by its jurisdiction of formation. 
 The execution, delivery and performance of the Loan Documents have been duly authorized, and do not conflict with Borrower’s formation documents, nor constitute an event of default under any material agreement by which Borrower is
bound. Borrower is not in default under any agreement to which or by which it is bound in which the default could reasonably be expected to cause a Material Adverse Change. 
 5.2 Collateral. 
 Borrower has good title to the Collateral, free of Liens except Permitted Liens or
Borrower has Rights to each asset that is Collateral. The Collateral is not in the possession of any third party bailee (such as at a warehouse). In the event that Borrower, after the date hereof, intends to store or otherwise deliver the Collateral
to such a bailee, then Borrower will receive the prior written consent of Bank and such bailee must acknowledge in writing that the bailee is holding such Collateral for the benefit of Bank. 
 5.3 Litigation. 
 Except as shown in the Schedule,
there are no actions or proceedings pending or, to the knowledge of Borrower’s Responsible Officers, threatened by or against Borrower or any Subsidiary in which a likely adverse decision could reasonably be expected to cause a Material Adverse
Change. 
  

 7 

 5.4 No Material Adverse Change in Financial Statements. 
 All consolidated financial statements for Borrower, and any Subsidiary, delivered to Bank fairly present in all material respects Borrower’s
consolidated financial condition and Borrower’s consolidated results of operations. There has not been any material deterioration in Borrower’s consolidated financial condition since the date of the most recent financial statements
submitted to Bank. 
 5.5 Solvency. 
 The
fair salable value of Borrower’s assets (including goodwill minus disposition costs) exceeds the fair value of its liabilities; the Borrower is not left with unreasonably small capital after the transactions in this Agreement; and Borrower is
able to pay its debts (including trade debts) as they mature. 
 5.6 Regulatory Compliance. 
 Borrower is not an “investment company” or a company “controlled” by an “investment company” under the Investment Company
Act. Borrower is not engaged as one of its important activities in extending credit for margin stock (under Regulations T and U of the Federal Reserve Board of Governors). Borrower has complied in all material respects with the Federal Fair
Labor Standards Act. Borrower has not violated any laws, ordinances or rules, the violation of which could reasonably be expected to cause a Material Adverse Change. None of Borrower’s or any Subsidiary’s properties or assets has been used
by Borrower or any Subsidiary or, to the best of Borrower’s knowledge, by previous Persons, in disposing, producing, storing, treating, or transporting any hazardous substance other than legally. Borrower and each Subsidiary has timely filed
all required tax returns and paid, or made adequate provision to pay, all material taxes, except those being contested in good faith with adequate reserves under GAAP. Borrower and each Subsidiary has obtained all consents, approvals and
authorizations of, made all declarations or filings with, and given all notices to, all government authorities that are necessary to continue its business as currently conducted, except where the failure to do so could not reasonably be expected to
cause a Material Adverse Change. 
 5.7 Investments in Subsidiaries. 
 Borrower does not own any stock, partnership interest or other equity securities except for Permitted Investments. 
 5.8
Full Disclosure. 
 No written representation, warranty or other statement of Borrower in any certificate or written statement given to
Bank (taken together with all such written certificates and written statements to Bank) contains any untrue statement of a material fact or omits to state a material fact necessary to make the statements contained in the certificates or statements,
in light of the circumstances under which they were made, not misleading. It being recognized by Bank that the projections and forecasts provided by Borrower have been prepared in good faith and are based upon reasonable assumptions and are not
viewed as facts and that actual results during the period or periods covered by such projections and forecasts may differ from the projected and forecasted results. 
  

 8 

 6 AFFIRMATIVE COVENANTS 
 Borrower will do all of the following for so long as Bank has an obligation to lend, or there are outstanding Obligations: 
 6.1 Government Compliance. 
 Borrower will maintain its and all Subsidiaries’ legal existence and good standing in its
jurisdiction of formation and maintain qualification in each jurisdiction in which the failure to so qualify would reasonably be expected to cause a material adverse effect on Borrower’s business or operations. Borrower will comply, and have
each Subsidiary comply, with all laws, ordinances and regulations to which it is subject, noncompliance with which could have a material adverse effect on Borrower’s business or operations or would reasonably be expected to cause a Material
Adverse Change. 
 6.2 Financial Statements, Reports, Certificates. 
 (a) Borrower will deliver to Bank: (i) as soon as available, but no later than 30 days after the last day of each month, a company prepared consolidated balance sheet and income statement covering Borrower’s
consolidated operations during the period certified by a Responsible Officer and in a form acceptable to Bank; (ii) as soon as available, but no later than 120 days after the last day of Borrower’s fiscal year, audited consolidated
financial statements prepared under GAAP, consistently applied, together with an unqualified opinion on the financial statements from an independent certified public accounting firm reasonably acceptable to Bank; (iii) a prompt report of any
legal actions pending or to the knowledge of Borrower’s Responsible Officers threatened against Borrower or any Subsidiary that could result in damages or costs to Borrower or any Subsidiary of $100,000 or more; (iv) budgets, sales
projections, operating plans or other financial information Bank reasonably requests; and (v) prompt notice of any material change in the composition of the Intellectual Property, including any subsequent ownership right of Borrower in or to
any Copyright, Patent or Trademark not shown in any intellectual property security agreement between Borrower and Bank or knowledge of an event that materially adversely affects the value of the Intellectual Property. 
 (b) Within 30 days after the last day of Borrower’s fiscal year, Borrower shall deliver to Bank its annual operating budget which budget shall
include, at a minimum, projected balance sheets and income statements in a quarterly format. 
 6.3 Intentionally Omitted. 
 6.4 Taxes. 
 Borrower will make, and cause each
Subsidiary to make, timely payment of all material federal, state, and local taxes or assessments (other than taxes and assessments which Borrower is contesting in good faith, with adequate reserves maintained in accordance with GAAP) and will
deliver to Bank, on demand, appropriate certificates attesting to the payment. 
 6.5 Insurance. 
 Borrower will keep its business and the Collateral insured for risks and in amounts, as Bank may reasonably request. Insurance policies will be in a form,
with companies, and in amounts that are satisfactory to Bank in Bank’s reasonable discretion. All property policies will have a lender’s loss payable endorsement showing Bank as an additional loss payee and all liability policies will show
the Bank as an additional insured and provide that the insurer must give Bank at least 20 days notice before canceling its policy. At Bank’s request, Borrower will deliver certified copies of policies and evidence of all premium payments.
Proceeds payable under any policy will, at Bank’s option, be payable to Bank on account of the Obligations. 
  

 9 

 6.6 Primary Accounts. 
 Borrower will maintain its primary depository and operating accounts and a majority of its investment accounts with Bank. 
 6.7 Intentionally Omitted. 
 6.8 Loss, Destruction or Damage. 
 Borrower will bear the risk of the Financed Equipment being lost, stolen, destroyed, or damaged. If during the term of this Agreement any item of Financed
Equipment is lost, stolen, destroyed, damaged beyond repair, rendered permanently unfit for use, or seized by a governmental authority for any reason for a period equal to at least the remainder of the term of this Agreement (an “Event of
Loss”), then in each case, Borrower: 
 (a) prior to the occurrence of an Event of Default, at Borrower’s option, will (i) pay
to Bank on account of the Committed Equipment Line the pro-rata portion of accrued interest to the date of the prepayment on the portion of such Equipment subject to an Event of Loss, plus the pro rata portion of the outstanding principal balance of
such Equipment subject to an Event of Loss, plus the pro rata Final Payment with respect to such Equipment Advance; or (ii) repair or replace any Financed Equipment subject to an Event of Loss provided the repaired or replaced Financed
Equipment is of equal or like value to the Financed Equipment subject to an Event of Loss and provided further that Bank has a first priority perfected security interest in such repaired or replaced Financed Equipment. 
 (b) during the continuance of an Event of Default, on or before the Payment Date after such Event of Loss for each such item of Financed Equipment
subject to such Event of Loss, Borrower will, at Bank’s option, pay to Bank an amount equal to the sum of: (i) the pro-rata portion of accrued interest to date of the prepayment on the portion of such Equipment subject to an Event of Loss,
plus (ii) the pro rata portion of the outstanding principal balance of such Equipment subject to an Event of Loss, plus (iii) the pro rate Final Payment with respect to such Equipment Advance, plus (iv) all other sums, if any, that
shall have become due and payable, including interest at the Default Rate with respect to any past due amounts. 
 (c) On the date of receipt
by Bank of the amount specified above with respect to each such item of Financed Equipment subject to an Event of Loss, this Agreement shall terminate as to such Financed Equipment. If any proceeds of insurance or awards received from governmental
authorities are in excess of the amount owed under this Section, Bank shall promptly remit to Borrower the amount in excess of the amount owed to Bank. 
 6.9 Further Assurances. 
 Borrower will execute any further instruments and take further action as Bank reasonably requests
to perfect or continue Bank’s security interest in the Collateral or to effect the purposes of this Agreement. 
  

 10 

 7 NEGATIVE COVENANTS 
 For so long as Bank has an obligation to lend or there are any outstanding Obligations, Borrower shall not, without Bank’s prior written consent (which shall be a matter of its good faith business judgment), do
any of the following: 
 7.1 Dispositions. 
 Convey, sell, lease, transfer or otherwise dispose of (collectively “Transfer”), or permit any of its Subsidiaries to Transfer, all or any part of its business or property, except for Transfers (i) of Inventory in the
ordinary course of business; (ii) of non-exclusive licenses and similar arrangements for the use of the property of Borrower or its Subsidiaries in the ordinary course of business; (iii) of worn-out or obsolete Equipment or (iv) other
Transfers which in the aggregate do not exceed $50,000 in any fiscal year. 
 7.2 Changes in Business, Ownership, Management or Locations of Collateral.

 Engage in or permit any of its Subsidiaries to engage in any business other than the businesses currently engaged in by Borrower or
reasonably related thereto or have a material change in its management or a change in ownership of greater than 25% (other than by the sale of Borrower’s equity securities in a public offering or to venture capital investors so long as Borrower
identifies the venture capital investors prior to the closing of the investment). Borrower will not, without at least 30 days prior written notice, relocate its chief executive office, change its state of formation (including reincorporation),
change its organizational number or name or add any new offices or business locations (such as warehouses) in which Borrower maintains or stores over $20,000 in Collateral. 
 7.3 Mergers or Acquisitions. 
 Merge or consolidate, or permit any of its Subsidiaries to merge or
consolidate, with any other Person, or acquire, or permit any of its Subsidiaries to acquire, all or substantially all of the capital stock or property of another Person, except where (i) no Event of Default has occurred and is continuing or
would result from such action during the term of this Agreement and (ii) such transaction would not result in a decrease of more than 25% of Tangible Net Worth. A Subsidiary may merge or consolidate into another Subsidiary or into
Borrower. 
 7.4 Indebtedness. 
 Create,
incur, assume, or be liable for any Indebtedness, or permit any Subsidiary to do so, other than Permitted Indebtedness. 
 7.5 Encumbrance.

 Permit any Collateral not to be subject to the first priority security interest granted here, subject to Permitted Liens. 

7.6 Distributions; Investments. 
 Directly or
indirectly acquire or own any Person, or make any Investment in any Person, other than Permitted Investments except as permitted by Section 7.3, or permit any of its Subsidiaries to do so. Pay any dividends or make any distribution or payment
or redeem, retire or purchase any capital stock except for (x) dividends and distributions solely in the capital stock of Borrower and (y) repurchases of stock from former employees, consultants, or directors of Borrower under the terms of
applicable repurchase agreements, provided that no Event of Default has occurred, is continuing or would exist after giving effect to the repurchases. 
  

 11 

 7.7 Transactions with Affiliates. 
 Directly or indirectly enter into or permit to exist any material transaction with any Affiliate of Borrower except for transactions that are in the ordinary course of Borrower’s business, upon fair and
reasonable terms that are no less favorable to Borrower than would be obtained in an arm’s length transaction with a nonaffiliated Person. 
 7.8
Subordinated Debt. 
 Make or permit any payment on any Subordinated Debt, except under the terms of the Subordinated Debt, or amend any
provision in any document relating to the Subordinated Debt without Bank’s prior written consent. 
 7.9 Compliance. 
 Become an “investment company” or a company controlled by an “investment company,” under the Investment Company Act of 1940 or
undertake as one of its important activities extending credit to purchase or carry margin stock, or use the proceeds of any Credit Extension for that purpose; fail to meet the minimum funding requirements of ERISA, permit a Reportable Event or
Prohibited Transaction, as defined in ERISA, to occur; fail to comply with the Federal Fair Labor Standards Act or violate any other law or regulation, if the violation could reasonably be expected to have a material adverse effect on
Borrower’s business or operations or would reasonably be expected to cause a Material Adverse Change, or permit any of its Subsidiaries to do so. 
 8 EVENTS OF DEFAULT 
 Any one of the following is an Event of Default: 
 8.1 Payment Default. 
 If Borrower fails to pay any of
the Obligations within 3 days after their due date, however, during such period no Credit Extensions will be made; 
 8.2 Covenant Default.

 (a) If Borrower fails to perform any obligation under Sections 6.2 or violates any of the covenants contained in Section 7 of this
Agreement, or 
 (b) If Borrower fails or neglects to perform, keep, or observe any other material term, provision, condition, covenant, or
agreement contained in this Agreement, in any of the Loan Documents, or in any other present or future agreement between Borrower and Bank and as to any default under such other term, provision, condition, covenant or agreement that can be cured,
has failed to cure such default within ten (10) days after the occurrence thereof; provided, however, that if the default cannot by its nature be cured within the ten (10) day period or cannot after diligent attempts by Borrower be cured
within such ten (10) day period, and such default is likely to be cured within a reasonable time, then Borrower shall have an additional reasonable period (which shall not in any case exceed thirty (30) days) to attempt to cure such
default, and within such reasonable time period the failure to have cured such default shall not be deemed an Event of Default (provided that no Credit Extensions will be made during such cure period); 
 8.3 Material Adverse Change. 
 If there
(i) occurs a material adverse change in the business, operations, or financial condition of the Borrower, or (ii) is a material impairment of the prospect of repayment of any portion of the Obligations; or (iii) is a material
impairment of the value or priority of Bank’s security interests in the Collateral (the foregoing being defined as a “Material Adverse Change”). 
  

 12 

 8.4 Attachment. 
 If any material portion of Borrower’s assets is attached, seized, levied on, or comes into possession of a trustee or receiver and the attachment, seizure or levy is not removed in 30 days (or, if the Financed
Equipment is included in such action, then the attachment, seizure or levy must be removed in 10 days), or if Borrower is enjoined, restrained, or prevented by court order from conducting a material part of its business or if a judgment or other
claim becomes a Lien on a material portion of Borrower’s assets, or if a notice of lien, levy, or assessment is filed against any of Borrower’s assets by any government agency and not paid within 30 days after Borrower receives notice (or,
if the Financed Equipment is included in such action, then such payment must be made within 10 days). These are not Events of Default if stayed or if a bond is posted pending contest by Borrower (but no Credit Extensions will be made during the cure
period); 
 8.5 Insolvency. 
 If Borrower
becomes insolvent or if Borrower begins an Insolvency Proceeding or an Insolvency Proceeding is begun against Borrower and not dismissed or stayed within 45 days (but no Credit Extensions will be made before any Insolvency Proceeding is dismissed);

 8.6 Other Agreements. 
 If there is a
default in any agreement between Borrower and a third party that gives the third party the right to accelerate any Indebtedness exceeding $100,000 or that could cause a Material Adverse Change; 
 8.7 Judgments. 
 If a money judgment(s) in the
aggregate of at least $50,000 is rendered against Borrower and is unsatisfied and unstayed for 30 days (but no Credit Extensions will be made before the judgment is stayed or satisfied); 
 8.8 Misrepresentations. 
 If Borrower or any Person acting for Borrower makes any material
misrepresentation or material misstatement now or later in any warranty or representation in this Agreement or in any writing delivered to Bank or to induce Bank to enter this Agreement or any Loan Document; or 
 8.9 Guaranty. 
 Any guaranty of any Obligations ceases
for any reason to be in full force or any Guarantor does not perform any obligation under any guaranty of the Obligations, or any material misrepresentation or material misstatement exists now or later in any warranty or representation in any
guaranty of the Obligations or in any certificate delivered to Bank in connection with the guaranty, or any circumstance described in Sections 8.4, 8.5 or 8.7 occurs to any Guarantor. 
 9 BANK’S RIGHTS AND REMEDIES 
 9.1 Rights and
Remedies. 
 When an Event of Default occurs and continues Bank may, without notice or demand, do any or all of the following: 
  

 13 

 (a) Declare all Obligations immediately due and payable (but if an Event of Default described in
Section 8.5 occurs all Obligations are immediately due and payable without any action by Bank); 
 (b) Stop advancing money or extending
credit for Borrower’s benefit under this Agreement or under any other agreement between Borrower and Bank; 
 (c) Make any payments and
do any acts it considers necessary or reasonable to protect its security interest in the Collateral. Borrower will assemble the Collateral if Bank requires and make it available as Bank designates. Bank may enter premises where the Collateral is
located, take and maintain possession of any part of the Collateral, and pay, purchase, contest, or compromise any Lien which appears to be prior or superior to its security interest and pay all expenses incurred. Borrower grants Bank a license to
enter and occupy any of its premises, without charge, to exercise any of Bank’s rights or remedies; 
 (d) Apply to the Obligations any
(i) balances and deposits of Borrower it holds, or (ii) any amount held by Bank owing to or for the credit or the account of Borrower; 
 (e) Ship, reclaim, recover, store, finish, maintain, repair, prepare for sale, advertise for sale, and sell the Collateral. Bank is granted a non-exclusive, royalty-free license or other right to use, without charge, Borrower’s labels,
Patents, Copyrights, Mask Works, rights of use of any name, trade secrets, trade names, Trademarks, service marks, and advertising matter, or any similar property as it pertains to the Collateral, in completing production of, advertising for sale,
and selling any Collateral and, in connection with Bank’s exercise of its rights under this Section, Borrower’s rights under all licenses and all franchise agreements inure to Bank’s benefit; and 
 (f) Dispose of the Collateral according to the Code. 
 9.2 Power of Attorney. 
 Effective only when an Event of Default occurs and continues, Borrower irrevocably appoints Bank as
its lawful attorney to: (i) endorse Borrower’s name on any checks or other forms of payment or security; (ii) make, settle, and adjust all claims under Borrower’s insurance policies; and (iii) transfer the Collateral into
the name of Bank or a third party as the Code permits. Bank may exercise the power of attorney to sign Borrower’s name on any documents necessary to perfect or continue the perfection of any security interest regardless of whether an Event of
Default has occurred. Bank’s appointment as Borrower’s attorney in fact, and all of Bank’s rights and powers, coupled with an interest, are irrevocable until all Obligations have been fully repaid and performed and Bank’s
obligation to provide Credit Extensions terminates. 
 9.3 Bank Expenses. 
 If Borrower fails to pay any amount or furnish any required proof of payment to third persons, Bank may make all or part of the payment or obtain
insurance policies required in Section 6.5, and take any action under the policies Bank deems prudent. Any amounts paid by Bank are Bank Expenses and immediately due and payable, bearing interest at the then applicable rate and secured by the
Collateral. No payments by Bank are deemed an agreement to make similar payments in the future or Bank’s waiver of any Event of Default. 
 9.4
Bank’s Liability for Collateral. 
 If Bank complies with reasonable banking practices and Section 9-207 of the Code, it is not
liable for: (a) the safekeeping of the Collateral; (b) any loss or damage to the Collateral; (c) any diminution in the value of the Collateral; or (d) any act or default of any carrier, warehouseman, bailee, or other person.
Except as provided above, Borrower bears all risk of loss, damage or destruction of the Collateral. 
  

 14 

	9.5	Remedies Cumulative. 

 Bank’s rights and
remedies under this Agreement, the Loan Documents, and all other agreements are cumulative. Bank has all rights and remedies provided under the Code, by law, or in equity. Bank’s exercise of one right or remedy is not an election, and
Bank’s waiver of any Event of Default is not a continuing waiver. Bank’s delay is not a waiver, election, or acquiescence. No waiver is effective unless signed by Bank and then is only effective for the specific instance and purpose for
which it was given. 
  

	9.6	Demand Waiver. 

 Borrower waives demand, notice of
default or dishonor, notice of payment and nonpayment, notice of any default, nonpayment at maturity, release, compromise, settlement, extension, or renewal of accounts, documents, instruments, chattel paper, and guarantees held by Bank on which
Borrower is liable. 
  

	10	NOTICES AND WAIVERS 

  

	10.1	Notices. 

 Unless otherwise provided in this
Agreement, all notices or demands by any party relating to this Agreement or any other agreement entered into in connection herewith shall be in writing and (except for financial statements and other informational documents which may be sent by
first-class mail, postage prepaid) shall be personally delivered or sent by a recognized overnight delivery service, certified mail, postage prepaid, return receipt requested, or by telefacsimile to Borrower or to Bank, as the case may be, at its
addresses set forth below: 
  

			
	If to Borrower	  	CardioMEMS, Inc.
		  	75 Fifth St., Suite 205
		  	Atlanta, GA 30308
		  	Attn: David Stern, President and CEO
		  	FAX: (404) 885-9974
		
	If to Bank	  	Silicon Valley Bank
		  	3353 Peachtree Road, NE, Suite M-10
		  	Atlanta, GA 30326
		  	Attn: Dale Kirkland, Vice President
		  	FAX: (404) 467-4467

  

	11	CHOICE OF LAW , VENUE AND JURY TRIAL WAIVER 

 Georgia law governs the Loan Documents without regard to principles of conflicts of law. Borrower and Bank each submit to the exclusive jurisdiction of the State and Federal courts in Fulton or Dekalb County, Georgia. 
 BORROWER AND BANK EACH WAIVE THEIR RIGHT TO A JURY TRIAL OF ANY CLAIM OR CAUSE OF ACTION ARISING OUT OF ANY OF THE LOAN DOCUMENTS OR ANY CONTEMPLATED TRANSACTION,
INCLUDING CONTRACT, TORT, BREACH OF DUTY AND ALL OTHER CLAIMS. THIS WAIVER IS A MATERIAL INDUCEMENT FOR BOTH PARTIES TO ENTER INTO THIS AGREEMENT. EACH PARTY HAS REVIEWED THIS WAIVER WITH ITS COUNSEL. 
  

 15 

	12	GENERAL PROVISIONS 

  

	12.1	Successors and Assigns. 

 This Agreement binds and
is for the benefit of the successors and permitted assigns of each party. Borrower may not assign this Agreement or any rights under it without Bank’s prior written consent which may be granted or withheld in Bank’s discretion. Bank has
the right, without the consent of or notice to Borrower, to sell, transfer, negotiate, or grant participation in all or any part of, or any interest in, Bank’s obligations, rights and benefits under this Agreement. 
  

	12.2	Indemnification. 

 Borrower will indemnify, defend
and hold harmless Bank and its officers, employees, and agents against: (a) all obligations, demands, claims, and liabilities asserted by any other party in connection with the transactions contemplated by the Loan Documents; and (b) all
losses or Bank Expenses incurred, or paid by Bank from, following, or consequential to transactions between Bank and Borrower (including reasonable attorneys fees and expenses), in each case except for losses caused by Bank’s gross negligence
or willful misconduct. 
  

	12.3	Time of Essence. 

 Time is of the essence for the
performance of all obligations in this Agreement. 
  

	12.4	Severability of Provision. 

 Each provision of this
Agreement is severable from every other provision in determining the enforceability of any provision. 
  

	12.5	Amendments in Writing, Integration. 

 All amendments
to this Agreement must be in writing and signed by Borrower and Bank. This Agreement represents the entire agreement about this subject matter, and supersedes prior negotiations or agreements. All prior agreements, understandings, representations,
warranties, and negotiations between the parties about the subject matter of this Agreement merge into this Agreement and the Loan Documents. 
  

	12.6	Counterparts. 

 This Agreement may be executed in
any number of counterparts and by different parties on separate counterparts, each of which, when executed and delivered, are an original, and all taken together, constitute one Agreement. 
  

	12.7	Survival. 

 All covenants, representations and
warranties made in this Agreement continue in full force while any Obligations remain outstanding. The obligations of Borrower in Section 12.2 to indemnify Bank will survive until all statutes of limitations for actions that may be brought
against Bank have run. 
  

	12.8	Confidentiality. 

 In handling any confidential
information, Bank will exercise the same degree of care that it exercises for its own proprietary information, but disclosure of information may be made (i) to Bank’s subsidiaries or affiliates in connection with their business with
Borrower, (ii) to prospective transferees or purchasers of any interest in the loans (provided, however, Bank shall use commercially reasonable efforts in obtaining such prospective transferee or purchasers 

  

 16 

 
agreement of the terms of this provision), (iii) as required by law, regulation, subpoena, or other order, (iv) as required in connection with
Bank’s examination or audit and (v) as Bank considers appropriate exercising remedies under this Agreement. Confidential information does not include information that either: (a) is in the public domain or in Bank’s possession
when disclosed to Bank, or becomes part of the public domain after disclosure to Bank through no fault of Bank; or (b) is disclosed to Bank by a third party, if Bank does not know that the third party is prohibited from disclosing the
information. 
  

	12.9	Attorneys’ Fees, Costs and Expenses. 

 In any
action or proceeding between Borrower and Bank arising out of the Loan Documents, the prevailing party will be entitled to recover its reasonable attorneys’ fees and other reasonable costs and expenses incurred, in addition to any other relief
to which it may be entitled. 
  

	13	DEFINITIONS 

  

	13.1	Definitions. 

 In this Agreement: 
 “Accounts” are all existing and later arising accounts, contract rights, and other obligations owed Borrower in connection with its sale
or lease of goods (including licensing software and other technology) or provision of services, all credit insurance, guaranties, other security and all merchandise returned or reclaimed by Borrower and Borrower’s Books relating to any of the
foregoing, as such definition may be amended from time to time according to the Code. 
 “Affiliate” of a Person is a Person
that owns or controls directly or indirectly the Person, any Person that controls or is controlled by or is under common control with the Person, and each of that Person’s senior executive officers, directors, partners and, for any Person that
is a limited liability company, that Person’s managers and members. 
 “Bank Expenses” are all audit fees and expenses
and reasonable costs and expenses (including reasonable attorneys’ fees and expenses) for preparing, negotiating, administering, defending and enforcing the Loan Documents (including appeals or Insolvency Proceedings). 
 “Borrower’s Books” are all Borrower’s books and records including ledgers, records regarding Borrower’s assets or
liabilities, the Collateral, business operations or financial condition and all computer programs or discs or any equipment containing the information. 
 “Business Day” is any day that is not a Saturday, Sunday or a day on which the Bank is closed. 
 “Code” is the Uniform Commercial Code as the same may, from time to time, be in effect in the State of Georgia; provided, that in the event that, by reason of mandatory provisions of law, any or all of the
attachment, perfection or priority of Bank’s security interest in any Collateral is governed by the Uniform Commercial Code in effect in a jurisdiction other than the State of Georgia, the term “Code” shall mean the Uniform Commercial
Code as in effect in such other jurisdiction for purposes of the provisions of this Loan Agreement relating to such attachment, perfection or priority and for purposes of definitions related to such provisions. 
 “Collateral” is the property described on Exhibit A. 
 “Committed Equipment Line” is a Credit Extension of up to One Million Dollars ($1,000,000.00). 
  

 17 

 “Commitment Termination Date” is the earlier of (i) the date which is nine
(9) months from the Effective Date or (ii) December 31, 2004. 
 “Contingent Obligation” is, for any Person,
any direct or indirect liability, contingent or not, of that Person for (i) any indebtedness, lease, dividend, letter of credit or other obligation of another such as an obligation directly or indirectly guaranteed, endorsed, co-made,
discounted or sold with recourse by that Person, or for which that Person is directly or indirectly liable; (ii) any obligations for undrawn letters of credit for the account of that Person; and (iii) all obligations from any interest
rate, currency or commodity swap agreement, interest rate cap or collar agreement, or other agreement or arrangement designated to protect a Person against fluctuation in interest rates, currency exchange rates or commodity prices; but
“Contingent Obligation” does not include endorsements in the ordinary course of business. The amount of a Contingent Obligation is the stated or determined amount of the primary obligation for which the Contingent Obligation is made or, if
not determinable, the maximum reasonably anticipated liability for it determined by the Person in good faith; but the amount may not exceed the maximum of the obligations under the guarantee or other support arrangement. 
 “Copyrights” are all copyright rights, applications or registrations and like protections in each work or authorship or derivative work,
whether published or not (whether or not it is a trade secret) now or later existing, created, acquired or held. 
 “Credit
Extension” is each Equipment Advance, or any other extension of credit by Bank for Borrower’s benefit. 
 “Effective
Date” is the date Bank executes this Agreement. 
 “Eligible Equipment” is general purpose computer equipment,
office equipment, test and laboratory equipment, furnishings, and, subject to the limitations set forth below, Other Equipment that complies with all of Borrower’s representations and warranties to Bank and which is acceptable to Bank in all
respects. All Equipment financed with the proceeds of Equipment Advances shall be new. 
 “Equipment” is all present and
future machinery, equipment, tenant improvements, furniture, fixtures, vehicles, tools, parts and attachments in which Borrower has any interest. 
 “Equipment Advance” is defined in Section 2.1.1. 
 “ERISA” is the Employment Retirement
Income Security Act of 1974, and its regulations. 
 “Event of Loss” is defined in Section 6.8. 
 “Final Payment” is a payment (in addition to and not a substitution for the regular monthly payments of principal plus accrued interest)
due on the Maturity Date for such Equipment Advance equal to the Loan Amount then in effect for such Equipment Advance multiplied by the Final Payment Percentage. 
 “Final Payment Percentage” is, for each Equipment Advance, four percent (4.0%). 
 “Financed Equipment” is defined in the Loan Supplement. 
 “Funding Date” is any date on which an
Equipment Advance is made to or on account of Borrower. 
 “GAAP” is generally accepted accounting principles. 

“Guarantor” is any present or future guarantor of the Obligations. 
  

 18 

 “Indebtedness” is (a) indebtedness for borrowed money or the deferred price of
property or services, such as reimbursement and other obligations for surety bonds and letters of credit, (b) obligations evidenced by notes, bonds, debentures or similar instruments, (c) capital lease obligations and (d) Contingent
Obligations. 
 “Insolvency Proceeding” are proceedings by or against any Person under the United States Bankruptcy Code, or
any other bankruptcy or insolvency law, including assignments for the benefit of creditors, compositions, extensions generally with its creditors, or proceedings seeking reorganization, arrangement, or other relief. 
 “Intellectual Property” is all of Borrower’s: 
 (a) Copyrights, Trademarks, Patents, and Mask Works including amendments, renewals, extensions, and all licenses or other rights to use and all license fees and royalties from the use; 
 (b) Any trade secrets and any intellectual property rights in computer software and computer software products now or later existing, created, acquired
or held; 
 (c) All design rights which may be available to Borrower now or later created, acquired or held; 
 (d) Any claims for damages (past, present or future) for infringement of any of the rights above, with the right, but not the obligation, to sue and
collect damages for use or infringement of the intellectual property rights above; 
 All proceeds and products of the foregoing, including
all insurance, indemnity or warranty payments. 
 “Interest Rate” is defined in Section 2.3.1. 
 “Inventory” is present and future inventory in which Borrower has any interest, including merchandise, raw materials, parts, supplies,
packing and shipping materials, work in process and finished products intended for sale or lease or to be furnished under a contract of service, of every kind and description now or later owned by or in the custody or possession, actual or
constructive, of Borrower, including inventory temporarily out of its custody or possession or in transit and including returns on any accounts or other proceeds (including insurance proceeds) from the sale or disposition of any of the foregoing and
any documents of title. 
 “Investment” is any beneficial ownership of (including stock, partnership interest or other
securities) any Person, or any loan, advance or capital contribution to any Person. 
 “Lien” is a mortgage, lien, deed of
trust, charge, pledge, security interest or other encumbrance. 
 “Loan Amount” means, with respect to each Equipment
Advance, the original principal amount of such Equipment Advance minus any prepayments made pursuant to Section 2.3.1(d) or 2.3.1(f). 
 “Loan Documents” are, collectively, this Agreement, any note, or notes or guaranties executed by Borrower or Guarantor, and any other present or future agreement between Borrower and/or for the benefit of Bank in connection
with this Agreement, all as amended, extended or restated. 
 “Loan Factor” is the percentage which results from amortizing
the Equipment Advance over the Repayment Period, using the Interest Rate. 
  

 19 

 “Mask Works” are all mask works or similar rights available for the protection of
semiconductor chips, now owned or later acquired. 
 “Material Adverse Change” is defined in Section 8.3. 

“Maturity Date” is, with respect to each Equipment Advance, the last day of the Repayment Period for such Equipment Advance, or if
earlier, the date of acceleration of such Equipment Advance by Bank following an Event of Default. 
 “Obligations” are
debts, principal, interest, Bank Expenses and other amounts Borrower owes Bank under or in connection with this Agreement now or later, including cash management services, letters of credit and foreign exchange contracts, if any and including
interest accruing after Insolvency Proceedings begin and debts, liabilities, or obligations of Borrower assigned to Bank. 
 “Original Stated Cost” is (i), the original cost to the Borrower of the item of new Eligible Equipment net of any and all freight, installation, tax or (ii) the fair market value assigned to such item of used Eligible
Equipment by mutual agreement of Borrower and Bank at the time of making of the Equipment Advance. 
 “Other Equipment” is
leasehold improvements, intangible property such as computer software and software licenses, equipment specifically designed or manufactured for Borrower, payments to consultants and contractors, sales tax, freight and installation expenses, other
intangible property, limited use property and other similar property. Unless otherwise agreed to by Bank: not more than 30% of the Equipment financed with the proceeds of each Equipment Advance shall consist of Other Equipment. 
 “Patents” are patents, patent applications and like protections, including improvements, divisions, continuations, renewals,
reissues, extensions and continuations-in-part of the same. 
 “Permitted Indebtedness” is: 
 (a) Borrower’s indebtedness to Bank under this Agreement or any other Loan Document; 
 (b) Indebtedness existing on the Effective Date and shown on the Schedule; 
 (c) Subordinated Debt; 
 (d) Indebtedness to trade creditors incurred in the ordinary course of business;

 (e) Indebtedness secured by Permitted Liens; 
 (f) Other Indebtedness not otherwise permitted by Section 7.4 not exceeding $50,000 in the aggregate outstanding at any time; and 
 (g) Extensions, refinancings, modifications, amendments and restatements of any items of Permitted Indebtedness (a) through 
 (f) above, provided that the principal amount thereof is not increased or the terms thereof are not modified to impose more burdensome terms upon Borrower. 
 “Permitted Investments” are: 
 (a) Investments shown on the Schedule and existing on the Effective Date; 
  

 20 

 (b)(i) marketable direct obligations issued or unconditionally guaranteed by the United States or
its agency or any State maturing within 1 year from its acquisition, (ii) commercial paper maturing no more than 1 year after its creation and having the highest rating from either Standard & Poor’s Corporation or Moody’s
Investors Service, Inc., (iii) Bank’s certificates of deposit issued maturing no more than 1 year after issue; and (iv) any Investments permitted by Borrower’s investment policy, as amended from time to time, provided that such
investment policy (and any such amendment thereto) has been approved by Bank; 
 (c) Investments consisting of (i) travel advances and
employee relocation loans and other employee loans and advances in the ordinary course of business and (ii) loans to employees, officers or directors relating to the purchase of equity securities of Borrower or its Subsidiaries pursuant to
employee stock purchase plans or agreements approved by Borrower’s Board of Directors; which do not exceed $150,000 in the aggregate in any year; 
 (d) Investments (including debt obligations) received in connection with bankruptcy or reorganization of customers or suppliers and in settlement of delinquent obligations of, and other disputes with, customers or
suppliers arising in the ordinary course of business; 
 (e) Investments consisting of notes receivable of, or prepaid royalties and other
credit extensions, to customers and suppliers who are not Affiliates, in the ordinary course of business; provided that this paragraph (e) shall not apply to Investments of Borrower in any Subsidiary; 
 (f) Joint ventures or strategic alliances (in the ordinary course of Borrower’s business) consisting of the non-exclusive licensing of technology,
the development of technology or the providing of technical support, provided that any cash investments by Borrower do not exceed $50,000 in the aggregate in any fiscal year; 
 (g) Investments pursuant to or arising under currency agreements or interest rate agreements entered into in the ordinary course of business; 

(h) Investments consisting of deposit accounts and securities accounts of Borrower in which Bank has a perfected security interest; and 
 (i) Other Investments not otherwise permitted by Section 7.6 not exceeding $50,000 in the aggregate outstanding at any time. 
 “Permitted Liens” are: 
 (a)
Liens existing on the Effective Date and shown on the Schedule or arising under this Agreement or other Loan Documents; 
 (b) Liens for
taxes, fees, assessments or other government charges or levies, either not delinquent or being contested in good faith and for which Borrower maintains adequate reserves on its Books, if they have no priority over any of Bank’s security
interests; 
 (c) Purchase money Liens (i) on Equipment acquired or held by Borrower or its Subsidiaries incurred for financing the
acquisition of the Equipment (including capital leases), or (ii) existing on equipment when acquired, if the Lien is confined to the property and improvements and the proceeds of the equipment; 
 (d) Licenses or sublicenses granted in the ordinary course of Borrower’s business and any interest or title of a licensor or under any license or
sublicense, if the licenses and sublicenses permit granting Bank a security interest; 
 (e) Leases or subleases granted in the
ordinary course of Borrower’s business, including in connection with Borrower’s leased premises or leased property; 
  

 21 

 (f) materialmen’s, mechanic’s, repairmen’s, employee’s or other like Liens arising in
the ordinary course of business and which are not delinquent for more than 45 days or are being contested in good faith by appropriate proceedings; 
 (g) banker’s liens, rights of setoff and similar Liens incurred on deposits made in the ordinary course of business; 
 (h)
Liens arising from judgments, decrees or attachments in circumstances not constituting an Event of Default under Section 8.4 or 8.7; 
 (i) Liens in favor of other financial institutions arising in connection with Borrower’s deposit accounts or securities accounts held at such institutions; 
 (j) Liens to secure payment of worker’s compensation, employment insurance, old age pensions or other social security obligations of Borrower in the ordinary course of business of Borrower; and 
 (k) easements, reservations, rights-of-way, restrictions, minor defects or irregularities in title and similar charges or encumbrances affecting real
property not constituting a material adverse effect on the business or condition (financial or otherwise) of Borrower. 
 (l) Liens incurred
in the extension, renewal or refinancing of the indebtedness secured by Liens described in (a) through (k), but any extension, renewal or replacement Lien must be limited to the property encumbered by the existing Lien and the principal
amount of the indebtedness may not increase. 
 “Person” is any individual, sole proprietorship, partnership, limited
liability company, joint venture, company association, trust, unincorporated organization, association, corporation, institution, public benefit corporation, firm, joint stock company, estate, entity or government agency. 
 “Prime Rate” is Bank’s most recently announced “prime rate,” even if it is not Bank’s lowest rate. 
 “Repayment Period” as to the Equipment Advance, is 36 months. 
 “Responsible Officer” is each of the Chief Executive Officer, the President, the Chief Financial Officer and the Controller of Borrower.

 “Rights”, as applied to the Collateral, means the Borrower’s rights and interests in, and powers with respect to,
that Collateral, whatever the nature of those rights, interests and powers and, in any event, including Borrower’s power to transfer rights in such Collateral to Bank. 
 “Schedule” is any attached schedule of exceptions. 
 “Scheduled Payment” is defined in Section2.3.1. 
 “Subordinated Debt” is
debt incurred by Borrower subordinated to Borrower’s indebtedness owed to Bank and which is reflected in a written agreement in a manner and form acceptable to Bank and approved by Bank in writing. 
 “Subsidiary” is for any Person, or any other business entity of which more than 50% of the voting stock or other equity interests is
owned or controlled, directly or indirectly, by the Person or one or more Affiliates of the Person. 
  

 22 

 “Tangible Net Worth” is, on any date, the consolidated total assets of Borrower and its
Subsidiaries minus, (i) any amounts attributable to (a) goodwill, (b) intangible items such as unamortized debt discount and expense, patents, trade and service marks and names, copyrights and research and development expenses
except prepaid expenses, and (c) reserves not already deducted from assets, and (ii) Total Liabilities. 
 “Total
Liabilities” is on any day, obligations that should, under GAAP, be classified as liabilities on Borrower’s consolidated balance sheet, including all Indebtedness, and current portion Subordinated Debt allowed to be paid, but excluding
all other Subordinated Debt. 
 “Trademarks” are trademark and servicemark rights, registered or not, applications to
register and registrations and like protections, and the entire goodwill of the business of Assignor connected with the trademarks. 
  

			
	 BORROWER:

	
	 CARDIOMEMS, INC.

		
	 By:
	 	 /s/ Sandeep Yadav

		
	 Title:
	 	CFO
		
	 BANK:
	 	
	
	 SILICON VALLEY BANK

		
	 By:
	 	 /s/ Dale Kirkland

		
	 Title:
	 	SVP
		
	 Effective Date:
	 	4/27/04

  

 23 

 Schedule to Loan and Security Agreement 
 The exact correct corporate name of Borrower is (attach a copy of the formation documents, e.g., 
 articles, partnership agreement): CardioMEMS, Inc. 
 Borrower’s State of formation: Delaware 
 Borrower has operated under only the following other names (if none, so state): 
 None 
 All other address at which the Borrower does business are as follows (attach additional sheets if necessary and
include all warehouse addresses): 
 None 
 Borrower has deposit accounts and/or investment accounts located only at the following institutions: 
 Suntrust 
 List Acct. Numbers: 
 Liens existing on the Effective Date and disclosed to
and accepted by Bank in writing: 
 None 
 Investments existing on the Effective Date and disclosed to and accepted by Bank in writing: 
 None 
 Indebtedness on the Effective Date and disclosed to and consented to by Bank in writing: 
 None 
 Borrower is not subject to litigation which would have a material adverse effect on the Borrower’s financial
condition, except the following (attach additional comments, if needed): 
 None 
 Tax ID Number: 582621266 
 Organizational Number, if any: — 

 

 24 

 EXHIBIT A 
 The Collateral consists of all Financed Equipment now owned or hereafter acquired, including, without limitation, all attachments, accessories, accessions, replacements, substitutions, additions, and improvements to
the foregoing, wherever located; and 
 All Borrower’s Books relating to the foregoing and any and all claims, rights and interests in
any of the above and all substitutions for, additions and accessions to and proceeds thereof. 
  

 25 

 EXHIBIT B 
 FORM OF LOAN AGREEMENT SUPPLEMENT 
 LOAN AGREEMENT SUPPLEMENT No. [ ] 
 LOAN AGREEMENT SUPPLEMENT No. [ ], dated 4/27 , 2004 (“Supplement”), to the Loan and Security Agreement dated as of the
Effective Date (the “Loan Agreement) by and between the undersigned (“Borrower”), and Silicon Valley Bank (“Bank”). 
 Capitalized terms used herein but not otherwise defined herein are used with the respective meanings given to such terms in the Loan Agreement. 
 To secure the prompt payment by Borrower of all amounts from time to time outstanding under the Loan Agreement, and the performance by Borrower of all the terms contained in the Loan Agreement, Borrower grants Bank, a first priority
security interest in each item of equipment and other property described in Annex A hereto, which equipment and other property shall be deemed to be additional Financed Equipment and Collateral. The Loan Agreement is hereby incorporated by reference
herein and is hereby ratified, approved and confirmed. 
 Annex A (Equipment Schedule) and Annex B (Loan Terms Schedule) are attached hereto.

 The proceeds of the Loan should be transferred to Borrower’s account with Bank set forth below: 
 Bank Name:       Silicon Valley Bank 
 Account No.:    3300410557
 Borrower hereby certifies that (a) the foregoing information is true and correct and authorizes Bank to endorse in its respective books and records, the Interest Rate applicable to the Funding Date of the Loan contemplated in this Loan
Agreement Supplement and the principal amount set forth in the Loan Terms Schedule; (b) the representations and warranties made by Borrower in the Loan Agreement are true and correct on the date hereof and will be true and correct on such
Funding Date. No Event of Default has occurred and is continuing under the Loan Agreement. This Supplement may be executed by Borrower and Bank in separate counterparts, each of which when so executed and delivered shall be an original, but all such
counterparts shall together constitute but one and the same instrument. 
 This Supplement is delivered as of this day and year first above
written. 
  

															
		 		 	 SILICON VALLEY BANK
	 		 		 	 CardioMEMS, Inc.

								
		 		 	By:	 	 /s/ Dale Kirkland
	 		 		 	By:	 	 /s/ Sandeep Yadav

		 		 	Name:	 	Dale Kirkland	 		 		 	Name:	 	Sandeep Yadav
		 		 	Title:	 	SVP	 		 		 	Title:	 	CFO

 Annex A - Description of Financed Equipment 
 Annex B - Loan Terms Schedule 
  

 26 

 Annex A to Exhibit B 
 The Financed Equipment being financed with the Equipment Advance which this Loan Agreement Supplement is being executed is listed below. Upon the funding of such Equipment Advance, this schedule automatically shall be
deemed to be a part of the Collateral. 
  

									
	         Description of Equipment:
	 	Make	 	Model	 	Serial #	 	Invoice #

  

 27 

 Annex B to Exhibit B 
 LOAN TERMS SCHEDULE #             
 Loan Funding
Date:             , 200     
 Original Loan Amount:
$            
 Interest
Rate:            % 
 Loan
Factor:             % 
 Scheduled Payment Dates and Amounts*: 
 One (1) payment of $             due
                     
                payment of $             due monthly in advance from
             through             . 
 One (1) payment of $             due
                     
 Maturity Date:
              
 Final Payment: An additional amount equal to the Final Payment Percentage
multiplied by the Loan 
 Amount then in effect, shall be paid on the Maturity Date with respect to such Loan. 
  

			
	Payment No.	  	Payment Date
	1	  	
	2	  	
	3	  	
	4	  	

 [                    ] 
  

	*/	The amount of each Scheduled Payment will change as the Loan Amount changes. 

  

 28 

 EXHIBIT C 
 COMPLIANCE CERTIFICATE 
 TO: SILICON VALLEY BANK 
 FROM: CARDIOMEMS, INC. 
 The undersigned authorized officer of CardioMEMS, Inc. (“Borrower”)
certifies that under the terms and conditions of the Loan and Security Agreement between Borrower and Bank (the “Agreement”), (i) Borrower is in complete compliance for the period ending 3-31-04 with all required covenants except as
noted below and (ii) all representations and warranties in the Agreement are true and correct in all material respects on this date. Attached are the required documents supporting the certification. The Officer certifies that these are prepared
in accordance with Generally Accepted Accounting Principles (GAAP) consistently applied from one period to the next except as explained in an accompanying letter or footnotes. The Officer acknowledges that no borrowings may be requested at any time
or date of determination that Borrower is not in compliance with any of the terms of the Agreement, and that compliance is determined not just at the date this certificate is delivered. 
 Please indicate compliance status by circling Yes/No under “Complies” column. 
  

											
	 Reporting Covenant
	  	 Required
	  	 	  	Complies	  	 
						
	 Monthly financial statements + CC
	  	Monthly within 30 days	  	x	  	Yes	  	 ̈	  	No
	 Annual (Audited)
	  	FYE within 120 150/s/DK days	  	x	  	Yes	  	 ̈	  	No
	 Operating Budget (quarterly format)
	  	Annually within 30 days	  	x	  	Yes	  	 ̈	  	No

 Comments Regarding Exceptions: See Attached. 
  

							
	Sincerely,	 		  	BANK USE ONLY
				
	CARDIOMEMS, INC.	 		  	Received by:	  	  

	 /s/ SANDEEP YADAV
	 		  		  	AUTHORIZED SIGNER
	SIGNATURE	 		  	Date:	  	  

				
	 CFO
	 		  	Verified:	  	  

	TITLE	 		  		  	AUTHORIZED SIGNER
				
	 4-27-04
	 		  	Date:	  	  

	DATE	 		  	Compliance Status:	  	Yes    No

  

 29 

 

 
 SILICON VALLEY BANK 
 PRO FORMA INVOICE FOR LOAN CHARGES 
  

					
	 BORROWER:
	 	CardioMEMS, Inc.
		
	LOAN OFFICER:	 	Dale Kirkland/Steve DiPasqule
		
	DATE:	 	April 16, 2004

  

					
	Bank Fees:	 
	Loan Fee	 	 	None	 
	Credit Report	 	 	35.00	 
	
	Bank Outside Counsel Fees:	 
	UCC Search Fee	 	$	129.00	 
	UCC Filing Fee	 	 	113.50	 
	Documentation Fee	 	 	4,100.00	 
		
	Less Good Faith Deposit	 	$	(2,500.00	)
		 	 	 	 
		
	TOTAL FEE DUE	 	$	1,877.50	 
		 	 	 	 

 Please indicate the method of payment: 
 {x} A check for the total amount is attached. 
 {    } Debit DDA #
                     for the total amount. 
 {    } Loan proceeds 
 Borrower: 
  

							
	 By:
	 		 	 /s/ Sandeep Yadav
	    	
		 		 	 (Authorized Signer)
	    	
		
	 /s/ Dale Kirkland
	    	 4/27/04

	Silicon Valley Bank	    	(Date)
	 Account Officer’s Signature
	    	

  

 30 

 CORPORATE BORROWING RESOLUTION 
  

							
	Borrower:	  	 CardioMEMS, Inc.
 75 Fifth Street, Suite
205
 Atlanta, GA 30308
	 	Bank:	  	 Silicon Valley Bank
 3353 Peachtree Road, N.E.,
Suite M-10
 Atlanta, GA 30326

 I, the Secretary or Assistant Secretary of CardioMEMS, Inc. (“Borrower”), CERTIFY that Borrower
is a corporation existing under the laws of the State of Delaware. 
 I certify that at a meeting of Borrower’s Directors (or by other authorized
corporate action) duly held the following resolutions were adopted. 
 It is resolved that any one of the following officers of Borrower, whose name,
title and signature is below: 
  

					
	 NAMES
	  	 POSITIONS
	  	 ACTUAL SIGNATURES

			
	Sandeep Yadav	  	CFO	  	/s/ Sandeep Yadav
	David Stern	  	CEO	  	
	Jay Yadav	  	Chairman	  	
		  		  	

 may act for Borrower and: 
 Borrow Money. Borrow money from Silicon Valley Bank (“Bank”). 
 Execute Loan
Documents. Execute any loan documents Bank requires. 
 Grant Security. Grant Bank a security interest in any of Borrower’s
assets. 
 Negotiate Items. Negotiate or discount all drafts, trade acceptances, promissory notes, or other indebtedness in which
Borrower has an interest and receive cash or otherwise use the proceeds. 
 Letters of Credit. Apply for letters of credit from Bank.

 Foreign Exchange Contracts. Execute spot or forward foreign exchange contracts. 
 Issue Warrants. Issue warrants for Borrower’s stock. 
 Further Acts. Designate other individuals to request advances, pay fees and costs and execute other documents or agreements (including documents or agreement that waive Borrowers right to a jury trial) they
think necessary to effectuate these Resolutions. 
 Further resolved that all acts authorized by these Resolutions and performed before they were
adopted are ratified. These Resolutions remain in effect and Bank may rely on them until Bank receives written notice of their revocation. 
 I
certify that the persons listed above are Borrower’s officers with the titles and signatures shown following their names and that these resolutions have not been modified are currently effective. 
  

 31 

 CERTIFIED TO AND ATTESTED BY: 
  

			
	X	 	  

		 	*Secretary or Assistant Secretary
		
	X	 	  

  

	*	NOTE: In case the Secretary or other certifying officer is designated by the foregoing resolutions as one of the signing officers, this resolution should also be signed by a second
Officer or Director of Borrower. 

  

 32

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