Document:

Assignment of Interest and Obligations

 EXHIBIT 10.7.1 
  
 ASSIGNMENT OF INTEREST AND OBLIGATIONS 
  
 Elamex, S.A. de C.V. 
 To 
 International Manufacturing Solutions Operaciones, S.R.L. 
  
 Elamex, S.A. de C.V., a United Mexican States Corporation
(“Assignor”), effective July 4, 2003, hereby assigns, conveys and transfers to International Manufacturing Solutions Operaciones, S.R.L., a United Mexican States Limited Liability Company (“Assignee”), all its rights, title and
interest and all its obligations in the Shelter Services Agreement between “Assignor” and Align Technology, Inc., a California Corporations, dated June 3, 2002 (“Shelter Service Agreement”). 
  

	 	 	 	 	 ASSIGNOR
  
 ELAMEX, S.A. de C.V.

				
	Dated: 7/11/03	 	 	 	By:	 	 /s/    THOMAS J.
BENSON        

  
 Acceptance

  
 “Assignee”, effective July 4, 2003, hereby
accepts the assignment, conveyance and transfer set forth above and agrees to be bound by the terms (placed upon “Assignor”) and agrees to perform the obligations (placed upon “Assignor”) under and pursuant to the Shelter Service
Agreement. 
  
 Furthermore the “Assignee” agrees to waive the
requirements section 8.7 of the Shelter Services Agreement as referenced below. 
  
 8.7. If ALIGN fails to pay timely, as required by the terms of this Agreement, any of its indebtedness to ELAMEX, ALIGN hereby agrees to assign and make over to ELAMEX all of its interest in all inventory of raw materials, work-in-process,
equipment and finished goods of ALIGN, while the same are on the premises of the Facility or otherwise under the control or possession of ELAMEX in order to secure all present and future indebtedness of ALIGN to ELAMEX. ALIGN must advice ELAMEX in
writing, prior to the execution of this Agreement of any prior lien or interest granted on such items. In addition, ALIGN warrants and hereby represents to ELAMEX that no other entity shall be granted any interest in such items without the prior
written approval of ELAMEX. 
  
 ASSIGNEE

  
 INTERNATIONAL MANUFACTURING 

	 	 	 	 	 SOLUTIONS OPERACIONES, S.R.L.

				
	 Dated: 7/11/03
	 	 	 	By:	 	 /s/    LUIS
ROMERO        

  
 Consent

  
 Align Technology, Inc., hereby consents to the above
Assignment and Acceptance. 
  

	 	 	 	 	 ALIGN TECHNOLOGY, INC.

				
	 Dated: July 2, 2003
	 	 	 	By:	 	 /s/    LEN
HEDGE        

	 	 	 	 	 	 	 	 	 Len Hedge
 VP of OperationsAmendment No. 1 to Loan and Security Agreement with Limited Waiver

 Exhibit 10.35.1 
  
  
 AMENDMENT NO. 1 
 TO 
 LOAN AND SECURITY AGREEMENT

 WITH LIMITED WAIVER 
  
 THIS AMENDMENT NO. 1 TO LOAN AND SECURITY AGREEMENT WITH LIMITED WAIVER dated as of August 4, 2003 (the “Amendment”),
is entered into by and between ALIGN TECHNOLOGY, INC., a Delaware corporation (the “Borrower”) and COMERICA BANK (the “Bank”). 
  
  
 RECITAL 
  
 A.    Borrower and Bank have entered into that certain Loan and Security Agreement dated as of December 20, 2002, (as the same may be amended, modified, supplemented or restated hereafter from time to time, the
“Loan Agreement”), pursuant to which the Bank has agreed to extend and make available to the Borrower certain advances of money upon the terms and conditions set forth in the Loan Agreement and the other Loan Documents.

  
 B.    Borrower and Bank desire to
waive compliance with certain financial covenants and to amend certain provisions of the Loan Agreement, as more fully set forth herein. 
  
 C.    Subject to the representations and warranties of Borrower and upon the terms and conditions set forth in this Amendment,
Bank is willing to so waive, and to so amend the Loan Agreement. 
  
  
 AGREEMENT 
  
 NOW, THEREFORE, in consideration of the foregoing recitals, and for other good and valuable consideration, the receipt and sufficiency of which are
hereby acknowledged, and intending to be legally bound, Borrower and Bank hereby agree as follows: 
  
 SECTION 1.    Definitions.    Capitalized terms used herein without definitions shall have the meanings given to them in the Loan Agreement. 
  
 SECTION 2.    Limited
Waiver.    Subject to the terms and conditions set forth herein and in reliance upon the representations and warranties of Borrower set forth herein, Bank hereby waives compliance by Borrower with covenants contained in
Section 6.7 (Financial Covenants) as follows: 
  
 2.1    Compliance with Section 6.7(a) (Quick Ratio) is waived for the month ended June 30, 2003 only. 
  
 2.2    Compliance with Section 6.7(c) (EBITDA) is waived for the fiscal quarter ending March 31, 2003 only. 

 These waivers are one-time only, limited precisely as written, and shall not be deemed to be a consent to
the breach of this covenant in any other fiscal quarter, or the breach of any other covenant. 
  
 SECTION 3.    AMENDMENTS TO LOAN AGREEMENT.    The Loan Agreement is hereby amended as follows: 
  
 3.1    Section 6.7(a) – Quick Ratio.    Section 6.7(a) of the
Loan Agreement is hereby deleted in its entirety and replaced with the following: 
  
 “(a)    Quick Ratio.    A ratio of (i) Quick Assets to (ii) (A) Current Liabilities
less (B) the effect on current liabilities resulting from Borrower’s restatement of revenues in June 2003 in accordance with EITF 00-21, of at least 1.75:1.00.” 
  
 SECTION 4.    REFERENCE TO AND EFFECT ON THE LOAN AGREEMENT AND OTHER LOAN
DOCUMENTS.     Upon the effectiveness of this Amendment, on or after the date hereof, each reference in the Loan Agreement to “this Agreement,” “hereunder,” “hereof,” “herein” or words
of like import shall mean and be a reference to the Loan Agreement as amended by this Amendment, and each reference in any other document in which the Loan Agreement is referenced shall also mean and be a reference to the Loan Agreement, as amended
by this Amendment. 
  
 SECTION 5.    LIMITATION OF
AMENDMENT.    Each of the amendments set forth in Section 3 above shall be limited precisely as written and shall not be deemed to (i) be a modification or amendment to any other term or condition of the Loan Agreement
or any other Loan Document, (ii) prejudice any right or remedy which Bank may now have or may have in the future under or in connection with the Loan Agreement or any other Loan Document, or (iii) be a consent to any future amendment, waiver or
modification of any other term or condition of the Loan Agreement or any other Loan Document. 
  
 SECTION 6.    REPRESENTATIONS AND WARRANTIES.    In order to induce Bank to enter into this Amendment, Borrower represents and warrants to Bank as follows:

  
 6.1    Immediately after giving
effect to this Amendment (a) the representations and warranties contained in the Loan Agreement (other than those which expressly speak as of a particular date) are true, accurate and complete in all material respects as of the date hereof and (b)
no Event of Default has occurred and is continuing; 
  
 6.2    Borrower has the power and authority to execute and deliver this Amendment and to perform its obligations under the Loan Agreement, as amended by this Amendment, and each of the other Loan Documents to
which it is a party; 
  
 6.3    The
articles of incorporation, bylaws and other organizational documents of Borrower delivered to Bank as a condition precedent to the effectiveness of the Loan Agreement are true, accurate and complete and have not been amended, supplemented or
restated and are and continue to be in full force and effect; 
  
 6.4    The execution and delivery by Borrower of this Amendment and the performance by Borrower of its obligations under the Loan Agreement, as amended by this Amendment, and each of the other Loan Documents to
which it is a party have been duly authorized by all necessary action on the part of Borrower; and 
  

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 6.5    This Amendment has been duly executed and delivered by Borrower and is
the binding obligation of Borrower, enforceable against it in accordance with its terms, except as such enforceability may be limited by bankruptcy, insolvency, reorganization, liquidation, moratorium or other similar laws of general application and
equitable principles relating to or affecting creditors’ rights. 
  
 SECTION 7.    EXPENSES.    Borrower agrees to pay to Bank upon demand, the amount of any and all out-of-pocket expenses, including the reasonable fees and expenses of its counsel, which
Bank may incur in connection with the preparation, documentation, and negotiation of this Amendment and all related documents. 
  
 SECTION 8.    FULL FORCE AND EFFECT; REAFFIRMATION.    Except to the extent expressly provided in this
Amendment, the terms and conditions of the Loan Agreement shall remain in full force and effect. Borrower hereby reaffirms its obligations under each of the Loan Documents to which it is a party. 
  
 SECTION 9.    RELEASE AND
WAIVER.    BORROWER HEREBY REPRESENTS AND WARRANTS TO BANK THAT IT HAS NO KNOWLEDGE OF ANY FACTS THAT WOULD SUPPORT A CLAIM, COUNTERCLAIM, DEFENSE OR RIGHT OF SET-OFF, AND HEREBY RELEASES BANK FROM ALL LIABILITY ARISING UNDER
OR WITH RESPECT TO AND WAIVES ANY AND ALL CLAIMS, COUNTERCLAIMS, DEFENSES AND RIGHTS OF SET-OFF, AT LAW OR IN EQUITY, THAT BORROWER MAY HAVE AGAINST BANK EXISTING AS OF THE DATE OF THIS AMENDMENT ARISING UNDER OR RELATED TO THIS AMENDMENT, THE LOAN
AGREEMENT OR ANY OF THE OTHER LOAN DOCUMENTS OR TO THE LOANS CONTEMPLATED HEREBY OR THEREBY OR TO ANY ACT OR OMISSION TO ACT BY BANK WITH RESPECT HERETO OR THERETO. 
  
 SECTION 10.    CONDITIONS PRECEDENT.    This Amendment shall be deemed
effective upon the satisfaction of all of the following conditions precedent: 
  
 10.1    Amendment.    Bank shall have received this Amendment duly executed and delivered by Borrower. 
  
 10.2    Payment of
Costs.    Borrower shall have paid to Bank all costs incurred by Bank in connection with the preparation of this Amendment, including, without limitation, reasonable attorneys’ fees. 
  
 SECTION 11.    GOVERNING LAW.    This
Amendment shall be governed by and shall be construed and enforced in accordance with the laws of the state of California. 
  
 SECTION 12.    COUNTERPARTS.    This Amendment may be executed in any number of counterparts, each of which when so
delivered shall be deemed an original, but all such counterparts taken together shall constitute but one and the same instrument. 
  

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 IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed as of the date
first written above. 
  
  

	BORROWER:	 	 ALIGN TECHNOLOGY, INC.,
 a
Delaware corporation

				
	 	 	 	 	By:	 	 /s/    Eldon M. Bullington

	 	 	 	 	 Printed Name:
	 	 Eldon M. Bullington

	 	 	 	 	 Its:
	 	 Chief Financial Officer and Vice President, Finance

		
	BANK:	 	COMERICA BANK
				
	 	 	 	 	By:	 	 /s/    Kathy Conte

	 	 	 	 	 Printed Name:
	 	 Kathy Conte

	 	 	 	 	 Its:
	 	 Senior Vice President

  

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