Document:

ex_300117.htm

Exhibit 10.2

 

AMENDED AND RESTATED SURETY AGREEMENT

 

THIS AMENDED AND RESTATED SURETY AGREEMENT (“Surety Agreement”) is made effective as of October 28, 2021 by AMBRELL CORPORATION, a Delaware corporation, INTEST SILICON VALLEY CORPORATION, a Delaware corporation, INTEST EMS, LLC, a Delaware limited liability company, TEMPTRONIC CORPORATION, a Delaware corporation (individually and collectively, jointly and severally, the “Existing Guarantors”) and VIDEOLOGY IMAGING CORPORATION, a Delaware corporation (“Videology” together with the Existing Guarantors, individually and collectively, jointly and severally, the “Guarantor”) in favor of M&T BANK (together with its successors and assigns, “Bank”).

 

BACKGROUND

 

A.         INTEST CORPORATION, a Delaware corporation (the “Borrower”), Existing Guarantors and Bank are parties to that certain Amended and Restated Loan and Security Agreement dated of October 15, 2021, as amended by that certain Joinder and Amendment to Amended and Restated Loan and Security Agreement dated as of the date hereof (as it may be further amended, supplemented or restated from time to time, the “Loan Agreement”) and Existing Guarantors previously executed and delivered that certain Surety Agreement dated as of April 10, 2020 in favor of Bank (“Existing Surety Agreement”).

 

B.         Bank is willing to continue to extend the Loans to Borrower under the Loan Agreement, only if Guarantor agrees to continue to guarantee and remain surety for the full, prompt, complete and faithful payment and performance of all Obligations of Borrower subject to the terms and conditions of this Surety Agreement, and to execute and deliver this Surety Agreement.

 

C.         Guarantor will benefit directly and indirectly from the extension or continuation of such credit facilities to Borrower.

 

D.         Capitalized terms not otherwise defined in this Surety Agreement will have the meanings set forth in the Loan Agreement.

 

NOW, THEREFORE, for good and valuable consideration, and intending to be legally bound hereby, Guarantor irrevocably and unconditionally agrees as follows:

 

1.    Unlimited Continuing Guaranty and Suretyship Obligation. Guarantor guarantees to Bank and becomes a surety to Bank, for the Obligations. The liability of Guarantor hereunder is unlimited. THIS SURETY AGREEMENT IS A CONTINUING GUARANTY AND SURETYSHIP AGREEMENT AND SHALL CONTINUE IN FORCE UNTIL ALL OBLIGATIONS HAVE BEEN PAID OR SATISFIED IN FULL AS DETERMINED BY BANK AND BANK HAS NO FURTHER OBLIGATION OR COMMITMENT TO ADVANCE SUMS OR EXTEND ANY CREDIT FACILITY TO BORROWER. GUARANTOR EXPRESSLY AGREES THAT BORROWER MAY CREATE OR INCUR OBLIGATIONS AND MAY REPAY AND SUBSEQUENTLY CREATE OR INCUR OBLIGATIONS, ALL WITHOUT NOTICE TO GUARANTOR, AND GUARANTOR SHALL BE BOUND THEREBY. ALL ADVANCES TO AND BORROWINGS OF BORROWER FROM BANK SHALL CONSTITUTE ONE SINGLE OBLIGATION GUARANTEED BY GUARANTOR PURSUANT TO THE TERMS HEREOF. 

 

 

 

 

 

2.    Costs and Expenses. Guarantor shall pay upon demand all costs and expenses incurred by Bank in connection with Bank interpreting, enforcing, protecting and/or preserving its rights or remedies hereunder and any amount thereof not paid promptly following demand therefor shall be added to the sum payable hereunder and shall bear interest at the Default Rate from the date of such demand until paid in full. If Bank employs counsel to enforce this Surety Agreement by suit or otherwise, Guarantor will reimburse Bank upon demand for all costs of suit and other expenses in connection therewith, whether or not suit is actually instituted, together with Bank’s reasonable attorney’s fees together with interest on any judgment obtained by Bank at such Default Rate, including interest at such Default Rate from and after the date of execution, judicial or foreclosure sale until actual payment is made to Bank of the full amount due Bank hereunder.

 

3.    Scope and Duration of Liability.

 

3.1    Primary Liability. The obligations of Guarantor hereunder are primary, absolute, independent, irrevocable and unconditional. Guarantor’s obligation to pay any of the Obligations is a guaranty of payment, not of collection. This agreement is an agreement of suretyship as well as of guaranty and without being required to proceed first against Borrower or any other person or entity, or against any other security for the Obligations, Bank may proceed directly against Guarantor upon the occurrence of an Event of Default.

 

3.2    Duration. This Surety Agreement shall remain in full force and effect until all of the Obligations are fully, finally and irrevocably paid, complied with and performed and until all sums received by Bank thereunder are no longer subject to rescission or repayment upon Bankruptcy, insolvency or reorganization of Borrower or Guarantor. If at any time a payment or payments by Borrower or Guarantor on any of the Obligations, or any part thereof, are subsequently invalidated, declared to be fraudulent or preferential, set aside or are required to be repaid to a trustee, receiver or any other person or entity under any bankruptcy act, state or federal law, common law or equitable cause, then to the extent of such payment or payments, the Obligations intended to be satisfied shall be revived and continued in full force and effect as if such payment or payments had not been made.

 

3.3    Remedies. Upon the occurrence of an Event of Default, Guarantor shall immediately pay, comply with and perform such of the Obligations as Bank shall direct, irrespective of whether the Obligations directed by Bank to be paid, complied with and performed by Guarantor are those which gave rise to the Event of Default.

 

4.    Unconditional Enforceability.

 

4.1    Enforceability. The obligations of Guarantor under this Surety Agreement shall be unconditional and irrevocable, irrespective of:

 

(A)    the genuineness, validity or enforceability of any of the Loan Documents;

 

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(B)    any limitation of liability of Borrower or any other person or entity contained in the Loan Documents;

 

(C)    the existence of any security given to secure the Loan Documents;

 

(D)    any change in Borrower’s financial condition, operations, loan status or collateral position, or the impossibility or illegality of performance on the part of Borrower obligations under the Loan Documents;

 

(E)    any defense that may arise by reason of the incapacity or lack of authority of Borrower, any other guarantor or other person or entity or the failure of Bank to file or enforce a claim against the estate of Borrower in any bankruptcy or other proceedings; or

 

(F)    any other circumstances, occurrences or conditions, whether similar or dissimilar to any of the foregoing, which might otherwise constitute a legal or equitable defense, discharge or release of a guarantor or surety.

 

4.2    Acceleration. If Borrower or any other person or entity defaults under the Loan Documents and Bank is prevented from accelerating payment thereunder, either by operation of any bankruptcy laws or otherwise, Bank shall be entitled to receive from Guarantor, upon demand by Bank, the sums which would have otherwise been due and payable had such acceleration occurred.

 

5.    Consideration. Guarantor acknowledges and agrees (a) that it has received good and valuable consideration for guaranteeing the obligations of Borrower under this Surety Agreement, and (b) based upon Guarantor’s financial condition, Borrowers’ financial consideration and the reasonable likelihood that Borrower might default under its obligations to Bank and Guarantor would be compelled to perform under this Surety Agreement, Guarantor is not rendered insolvent by the execution of this Surety Agreement. Guarantor represents and warrants to Bank that, based upon Guarantor’s knowledge of and familiarity with, the financial condition and business operations of Borrower, Borrower’s business and operations are financially viable and Borrowers should be able to pay their debts and obligations as and when due in the ordinary course of business.

 

6.    Release/Modification/Information. Bank may at any time and from time to time, with or without consideration, release or discharge Guarantor, Borrower or any one or more other guarantors of or sureties for any or all of the Obligations, agree to the substitution, exchange or release of all or any part of the collateral securing the Obligations, obtain or receive any additional collateral or suretyship obligations securing the Loan Documents, and/or modify, amend, increase, extend, renew or supplement any of the Obligations or the Loan Documents, all without notice to or further consent from Guarantor. Except as may be expressly agreed to by Bank in writing, none of the foregoing actions shall in any way affect or diminish the liability of Guarantor under this Surety Agreement. Bank has no obligation or commitment of any kind to inform or advise Guarantor of any information, occurrences or events regarding Borrower or its financial condition, operations, loan status or collateral position, including, without limitation, any material adverse change in such financial condition, operations, loan status or collateral position. Guarantor acknowledges that it shall be solely responsible for keeping itself informed as to any of the foregoing matters.

 

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7.    Subrogation. Guarantor hereby agrees that:

 

7.1    Subordination. Any and all rights of subrogation that Guarantor may have against Borrower or against any collateral or security for any of the Obligations, and any and all rights of contribution, indemnity and/or substitution that Guarantor may have against Borrower or any other guarantor or surety, shall be junior and subordinate to the Obligations, to any rights that Bank may have against Borrower, to all right, title and interest that Bank may have in any such collateral or security for the Obligations, and to any right Bank may have against such other guarantor or surety. Bank may use, sell or dispose of any item of collateral or security for the Obligations as it sees fit without regard to any subrogation rights Guarantor may have, and upon any such disposition or sale of such collateral or security any rights of subrogation that Guarantor may have with respect to such collateral or security shall terminate.

 

7.2    Limitations. Until the Obligations shall have been indefeasibly paid in full, Guarantor shall not take, or permit to be taken, any action to exercise (a) any right of subrogation arising in respect of the Obligations, (b) any right of contribution arising in respect of the Obligations that Guarantor may have against any other guarantor or surety of the Obligations, (c) any right to enforce any remedy which Bank now has or may hereafter have against Borrower, or (d) any benefit of, and any right to participate in, any security now or hereafter held by Bank. If any amount shall be paid to Guarantor on account of such subrogation or contribution rights at any time when all Obligations shall not have been paid in full, such amount shall be held in trust for Bank and shall forthwith be paid over to Bank to be credited and applied against the Obligations, whether matured or unmatured, in accordance with the terms of the Loan Documents.

 

8.    Representations. Guarantor represents and warrants to Bank that:

 

8.1    Valid Organization, Good Standing and Qualification. Guarantor is a corporation duly incorporated or a limited liability company duly formed, as applicable, validly existing and in good standing under the laws of the applicable state described on Schedule 8.1, has full power and authority to execute, deliver and comply with the Loan Documents, and to carry on its business as it is now being conducted and is duly licensed or qualified as a foreign corporation or limited liability company in good standing under the laws of each other jurisdiction described on Schedule 8.1 and in which the character or location of the properties owned by it or the business transacted by it requires such licensing or qualification.

 

8.2    Due Authorization; No Legal Restrictions. The execution and delivery by Guarantor of the Loan Documents, the consummation of the transactions contemplated by the Loan Documents and the fulfillment and compliance with the respective terms, conditions and provisions of the Loan Documents: (a) have been duly authorized by all requisite corporate or company action of Guarantor, as applicable, (b) will not conflict with or result in a breach of, or constitute a default (or might, upon the passage of time or the giving of notice or both, constitute a default) under, any of the terms, conditions or provisions of any applicable statute, law, rule, regulation or ordinance or Guarantor’s Articles of Incorporation, By-Laws, Articles of Formation, Operating Agreement or any indenture, mortgage, loan or credit agreement or instrument to which Guarantor is a party or by which it may be bound or affected, or any judgment or order of any court or governmental department, commission, board, bureau, agency or instrumentality, domestic or foreign, and (c) will not result in the creation or imposition of any lien, charge or encumbrance of any nature whatsoever upon any of the property or assets of Guarantor under the terms or provisions of any such agreement or instrument, except liens in favor of Bank.

 

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8.3    Enforceability. This Surety Agreement has been duly executed by Guarantor and delivered to Bank and constitutes a legal, valid and binding obligation of Guarantor, enforceable in accordance with its terms.

 

8.4    No Default Under Other Obligations, Orders or Governmental Regulations. Guarantor is not in violation of its Articles of Incorporation or Operating Agreement, or in default in the performance or observance of any of its obligations, covenants or conditions contained in any indenture or other agreement creating, evidencing or securing any indebtedness or obligation or pursuant to which any such indebtedness or obligations are issued and Guarantor is not in violation of or in default under any other agreement or instrument or any judgment, decree, order, statute, rule or governmental regulation, applicable to it or by which its properties may be bound or affected.

 

8.5    Governmental Consents. No consent, approval or authorization of or designation, declaration or filing with any governmental authority on the part of Guarantor is required in connection with the execution, delivery or performance by Guarantor of the Surety Agreement or the consummation of the transactions contemplated hereby.

 

8.6    Review of Loan Documents. Guarantor’s authorized officers have either examined the Loan Documents or have had an opportunity to examine the Loan Documents and Guarantor has waived the right to examine them.

 

8.7    Benefit. Guarantor has a direct financial interest in Borrower and will benefit directly and indirectly from the execution of the Loan Documents.

 

8.8    Independent Review. Guarantor has executed this Surety Agreement after conducting its own independent review and analysis of the financial condition and operations of Borrower, and Guarantor has not relied upon any representation, statement or information of or from Bank in connection with the same.

 

9.    Notices. All notices, requests and other communication made or given in connection with this Surety Agreement shall be in writing and, unless receipt is stated herein to be required, shall be deemed to have been validly given if delivered personally to the individual, division or department to whose attention notices to a party are to be addressed, or by private carrier, or by registered or certified mail, return receipt requested, in all cases with postage prepaid, addressed as follows until some other address (or individual, division or department for attention) shall be designated by notice given in accordance with this paragraph:

 

	
			To Guarantor:

				
			c/o INTEST Corporation

			804 East Gate Drive, Suite 200

			Mount Laurel, NJ 08054

			Attention: Duncan Gilmour, Treasurer and CFO

			Telephone: 856-505-8812

			E-Mail: [REDACTED]

			

 

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			To Bank:

				
			M&T Bank

			210 Lake Drive East Suite 102

			Woodlands Falls Corporate Park

			Cherry Hill, NJ 08002

			Attention: Steven A. Vilardi, Vice President

			

 

10.    Set-Off. Without limiting the rights of Bank under applicable law, Bank has and may exercise a right of set-off, a lien against and a security interest in all property of Guarantor now or at any time in Bank’s possession in any capacity whatsoever, including but not limited to any balance of any deposit, trust or agency account, or any other bank account with Bank, as security for the Obligations. At any time and from time to time following the occurrence of an Event of Default, or an event which with the giving of notice or passage of time or both would constitute an Event of Default, Bank may without notice or demand, set off and apply any and all deposits (general or special, time or demand, provisional or final) at any time held and other indebtedness at any time owing by Bank to or for the credit of Borrower or Guarantor against any or all of the Obligations and Borrower’s and Guarantor’s obligations under the Loan Documents.

 

If any bank account of Guarantor with Bank are attached or otherwise liened or levied upon by any third party, Bank need not await the running of any applicable grace period hereunder, but Bank shall have and be deemed to have the immediate right of set-off and may apply the funds or amount thus set-off against Guarantor’s obligations to Bank.

 

11.    Cumulative Remedies. The rights, remedies, powers and privileges provided to Bank herein or in any of the Loan Documents shall not be deemed exclusive, but shall be cumulative and shall be in addition to any other rights, remedies, powers and privileges of Bank at law or in equity.

 

12.    Waivers. Guarantor hereby fully, finally, unconditionally and irrevocably waives the following:

 

12.1    Notices. Notice of acceptance of this Surety Agreement by Bank and any notice of the incurring by Borrower of any Obligations; presentment for payment, notice of nonpayment or demand, demand, protest, notice of protest and notice of dishonor or default to any party including Borrower and Guarantor; notice of any change in Borrower’s financial condition, operations, loan status or collateral position; notice of any of the actions described in Section 6 hereof; and all other notices to which Guarantor may be entitled but which may legally be waived.

 

12.2    Demand. Demand for payment as a condition of liability under this Surety Agreement.

 

12.3    Disability. Any disability of Borrower or defense available to Borrower, including absence or cessation of Borrower’s liability for any reason whatsoever.

 

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12.4    Defenses. Any defense or circumstance which might otherwise constitute a legal or equitable discharge of a guarantor or surety, including, without limitation, any obligation of Bank to proceed against Borrower prior to exercising any rights hereunder.

 

12.5    Possession/Marshalling. Any demand for possession of any collateral and any and all rights to subrogation or realization on any of Borrower’s property, including any right to require or participate in the marshalling of Borrower’s assets.

 

12.6    Termination. Any and all right to terminate Guarantor’s obligations hereunder by delivery of written notice to Bank or otherwise.

 

12.7    Limitations on Actions. All benefits under any present or future laws exempting any property, real or personal (with the exception of Guarantor’s officer’s primary residence), or any part of any proceeds thereof, from attachment, levy or sale under execution, or providing for any stay of execution to be issued on any judgment recovered under any of the Loan Documents or in any replevin or foreclosure proceedings, or otherwise providing for any valuation, appraisal or exemption.

 

12.8    Inquisition. All rights to inquisition on any real estate, which real estate may be levied upon pursuant to a judgment obtained under any of the Loan Documents and sold upon any writ of execution issued thereon in whole or in part, in any order desired by Bank.

 

12.9    Bond. Any requirement for bonds, security or sureties required by statute, court rule or otherwise.

 

12.10    Expenses. All rights to claim or recover attorney’s fees and costs in the event that Guarantor is successful in any action to remove, suspend or prevent the enforcement of a judgment entered by confession.

 

12.11    Subrogation. ANY AND ALL RIGHTS GUARANTOR MAY HAVE AT ANY TIME (WHETHER ARISING DIRECTLY OR INDIRECTLY, BY OPERATION OF LAW OR CONTRACT) TO ASSERT ANY CLAIM AGAINST BORROWER OR ANY OTHER GUARANTOR ON ACCOUNT OF PAYMENTS MADE OR OBLIGATIONS PERFORMED UNDER THIS SURETY AGREEMENT, INCLUDING, WITHOUT LIMITATION, ANY AND ALL RIGHTS OF SUBROGATION, REIMBURSEMENT, EXONERATION, CONTRIBUTION OR INDEMNITY.

 

12.12    Imperfections. Any and all errors, defects and imperfections in any action by Bank in replevin, foreclosure or other court process or in connection with any other action related to any of the Loan Documents or the transactions contemplated therein.

 

13.    Delay or Omission Not Waiver. Neither the failure nor any delay on the part of Bank to exercise any right, remedy, power or privilege under the Loan Documents upon the occurrence of any Event of Default or otherwise shall operate as a waiver thereof or impair any such right, remedy, power or privilege. No waiver of any Event of Default shall affect any later Event of Default or shall impair any rights of Bank. No single, partial or full exercise of any rights, remedies, powers and privileges by Bank shall preclude further or other exercise thereof. No course of dealing between Bank, Borrower or Guarantor shall operate as or be deemed to constitute a waiver of Bank’s rights under the Loan Documents or affect the duties or obligations of Borrower or Guarantor.

 

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14.    Binding Effect. This Surety Agreement and all rights and powers granted hereby will bind and inure to the benefit of the parties hereto and their respective successors and assigns.

 

15.    Prior Guaranties. Nothing contained in this Surety Agreement is intended to release, supersede, modify or otherwise affect any other guaranty or suretyship agreement from Guarantor to Bank.

 

16.    Construction. For purposes of this Surety Agreement, the singular shall be deemed to include the plural and the neuter shall be deemed to include the masculine and feminine as the context may require.

 

17.    Severability. The provisions of this Surety Agreement and all other Loan Documents are deemed to be severable, and the invalidity or unenforceability of any provision shall not affect or impair the remaining provisions which shall continue in full force and effect.

 

18.   Governing Law. This Surety Agreement has been made, executed and delivered in the Commonwealth of Pennsylvania and will be construed in accordance with and governed by the laws of such Commonwealth without regard to any rules or principles regarding conflict of laws or any rule or canon of construction which interprets agreements against the draftsman.

 

19.    Joint and Several Liability. All obligations of Guarantor hereunder are joint and several with those of all other guarantors of or surety for all or any part of the Obligations. All agreements, conditions, covenants and provisions hereof shall be the joint and several obligation of Guarantor.

 

20.    Counterparts. This Surety Agreement may be executed in any number of counterparts, all of which taken together shall constitute one and the same instrument, and any of the parties hereto may execute this Surety Agreement by signing any such counterpart.

 

21.   Submission to Jurisdiction. Guarantor hereby consents to the jurisdiction of any state or federal court located within the Commonwealth of Pennsylvania, and irrevocably agrees that, subject to Bank’s election, all actions or proceedings relating to the Loan Documents or the transactions contemplated hereunder shall be litigated in such courts, and Guarantor waives any objection which Guarantor may have based on lack of personal jurisdiction, improper venue or forum non conveniens to the conduct of any proceeding in any such court and waives personal service of any and all process upon Guarantor, and consents that all such service of process be made by mail or messenger directed to Guarantor at the address set forth in Section 9. Nothing contained in this Section 21 shall affect the right of Bank to serve legal process in any other manner permitted by law or affect the right of Bank to bring any action or proceeding against Guarantor or Guarantor’s property in the courts of any other jurisdiction.

 

22.    Limitation on Damages. Guarantor and Bank agree that, in any action, suit or proceeding, in respect of or arising out of this Surety Agreement, the Loan Documents or the transactions contemplated hereunder, each mutually waives to the fullest extent permitted by law, any claim for consequential, punitive or special damages.

 

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23.    JURY TRIAL WAIVER. GUARANTOR AND BANK WAIVE ANY RIGHT TO TRIAL BY JURY ON ANY CLAIM, DEMAND, ACTION OR CAUSE OF ACTION (a) ARISING UNDER ANY OF THE LOAN DOCUMENTS OR (b) IN ANY WAY CONNECTED WITH OR RELATED OR INCIDENTAL TO THE DEALINGS OF BORROWER, GUARANTOR OR BANK WITH RESPECT TO ANY OF THE LOAN DOCUMENTS OR THE TRANSACTIONS RELATED HERETO OR THERETO, IN EACH CASE WHETHER SOUNDING IN CONTRACT, TORT OR OTHERWISE. GUARANTOR AND BANK AGREE AND CONSENT THAT ANY SUCH CLAIM, DEMAND, ACTION OR CAUSE OF ACTION SHALL BE DECIDED BY COURT TRIAL WITHOUT A JURY, AND THAT ANY PARTY TO THE LOAN DOCUMENTS MAY FILE AN ORIGINAL COUNTERPART OR A COPY OF THIS PARAGRAPH WITH ANY COURT AS WRITTEN EVIDENCE OF THE CONSENT OF GUARANTOR AND BANK TO THE WAIVER OF THEIR RIGHT TO TRIAL BY JURY. GUARANTOR ACKNOWLEDGES THAT IT HAS HAD THE OPPORTUNITY TO CONSULT WITH COUNSEL REGARDING THIS SECTION, THAT IT FULLY UNDERSTANDS ITS TERMS, CONTENTS AND EFFECT, AND THAT IT VOLUNTARILY AND KNOWINGLY AGREES TO THE TERMS OF THIS SECTION.

 

24.    No Novation. This Surety Agreement shall amend and restate, but not satisfy, the obligations of Existing Guarantors under the Existing Surety Agreement. Nothing contained herein shall be deemed to constitute a novation or satisfaction of the Existing Surety Agreement, but the terms and conditions of this Surety Agreement shall amend, restate, and supersede the terms and conditions of the Existing Surety Agreement.

 

25.    Joinder of Videology. Videology hereby agrees that (a) effective as of the date hereof, it is hereby and shall be deemed to be a Guarantor under the Surety Agreement, and (b) from the date hereof until payment in full of the Obligations and termination of the Loan Agreement, Videology has assumed the obligations of a Guarantor under, and Videology shall perform, comply with and be subject to and bound by, jointly and severally with each of the Original Guarantors, each of the terms, provisions, conditions and waivers of the Surety Agreement to the same extent as it were an original signatory thereto.

 

Videology joins in, makes, affirms, and ratifies in favor of Bank, the Surety Agreement given by the Existing Guarantors to Bank. Without limiting the foregoing, Videology hereby pledges, collaterally assigns and grants a lien on and security interest in its right, title and interest in and to its Collateral to Lender to secure the payment and performance of the Obligations. Videology hereby authorizes Bank to file such UCC financing statements or amendments or other similar filings as Bank shall determine to be necessary or desirable in connection with the foregoing. Videology also agrees to execute and deliver (or cause to be executed and delivered) at any time and from time to time such further instruments and documents and do or cause to be done such further acts as may be reasonably requested by Bank to effect the provisions of this Section 25.

 

[Remainder of Page Intentionally Left Blank]

 

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IN WITNESS WHEREOF, the undersigned have caused this Surety Agreement to be executed the day and year first above written.

 

	
			 

				
			GUARANTOR:

				
			 

			
	 	 	 
	 	
			AMBRELL CORPORATION,

				 
	 	a Delaware corporation	 
	
			 

				
			 

				
			 

				
			 

			
	
			 

				
			 

				
			 

				
			 

			
	
			 

				
			By: 

				
			/s/ Duncan Gilmour

				
			 

			
	
			 

				
			Name:

				
			Duncan Gilmour

				
			 

			
	
			 

				
			Title:

				
			Vice President, Treasurer and Secretary

				
			 

			
	 	 	 	 
	 	 	 	 
	 	INTEST SILICON VALLEY CORPORATION,	 
	 	a Delaware corporation	 
	 	 	 	 
	 	 	 	 
	 	By:	/s/ Duncan Gilmour	 
	 	Name:	Duncan Gilmour	 
	 	Title:	Vice President, Treasurer and Secretary	 
	 	 	 	 
	 	 	 	 
	 	INTEST EMS, LLC,	 
	 	a Delaware limited liability company	 
	 	 	 	 
	 	 	 	 
	 	By:	/s/ Duncan Gilmour	 
	 	Name:	Duncan Gilmour	 
	 	Title:	Vice President, Treasurer and Secretary	 
	 	 	 	 
	 	 	 	 
	 	TEMPTRONIC CORPORATION,	 
	 	a Delaware corporation	 
	 	 	 	 
	 	 	 	 
	 	By:	/s/ Duncan Gilmour	 
	 	Name:	Duncan Gilmour	 
	 	Title:	Vice President, Treasurer and Secretary	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	VIDEOLOGY IMAGING CORPORATION,	 
	 	a Delaware corporation	 
	 	 	 	 
	 	 	 	 
	 	By:	/s/ Duncan Gilmour	 
	 	Name:	Duncan Gilmour	 
	 	Title: 	Vice President, Treasurer and Secretary	 

 

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Bank hereby joins in this Surety Agreement for the sole purpose of ratifying and confirming its consent to the provisions contained in Section 23 above.

 

	
			 

				
			BANK:

				
			 

			
	 	 	 
	 	M&T BANK	 
	
			 

				
			 

				
			 

				
			 

			
	
			 

				
			 

				
			 

				
			 

			
	
			 

				
			By: 

				
			/s/ Steven A. Vilardi

				
			 

			
	
			 

				
			 

				
			Steven A. Vilardi, Vice President

				
			 

			
	
			 

				
			 

				
			 

				
			 

			

 

-11-ex_300119.htm

Exhibit 10.3

 

AMENDED AND RESTATED PATENTS, TRADEMARKS, COPYRIGHTS AND LICENSES SECURITY AGREEMENT

 

THIS AMENDED AND RESTATED PATENTS, TRADEMARKS, COPYRIGHTS AND LICENSES SECURITY AGREEMENT (this “Security Agreement”) is made effective as of the 28th day of October, 2020 by and between INTEST CORPORATION, a Delaware corporation, (“Borrower”), AMBRELL CORPORATION, a Delaware corporation, INTEST SILICON VALLEY CORPORATION, a Delaware corporation, INTEST EMS, LLC, a Delaware limited liability company, TEMPTRONIC CORPORATION, a Delaware corporation (collectively, the “Existing Guarantors”), and VIDEOLOGY IMAGING CORPORATION, a Delaware corporation (“Videology” and together with the Existing Guarantors, individually and collectively, the “Guarantors” and together with Borrower, individually and collectively, jointly and severally, the “Assignor”) and M&T Bank (“Assignee”).

 

BACKGROUND

 

A.    Borrower, Existing Guarantors and Assignee are parties to that certain Amended and Restated Loan and Security Agreement dated of October 15, 2021, as amended by that certain Joinder and Amendment to Amended and Restated Loan and Security Agreement by and among Borrower, Guarantors and Assignee dated as of the date hereof (as it may be further amended, supplemented or restated from time to time, the “Loan Agreement”) and Existing Guarantors previously executed and delivered that certain Patents, Trademarks, Copyrights and Licenses Security Agreement dated as of April 10, 2020 in favor of Assignee (“Existing Security Agreement”).

 

B.    The Loan Agreement provides, inter alia, that Assignor grants to Assignee a security interest in all of Assignor’s assets, including, without limitation, its patents, patent rights, patent applications, servicemarks, trademarks, service trademark applications, service tradenames, goodwill, copyrights and licenses.

 

NOW THEREFORE, in consideration of the premises set forth herein and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Assignor agrees as follows:

 

1.    Incorporation of Loan Agreement. The Loan Agreement and the terms and provisions thereof are hereby incorporated herein in their entirety by this reference thereto. All capitalized terms not otherwise defined herein shall have the meanings set forth in the Loan Agreement.

 

2.    Security Interests.

 

2.1    Security Interest. To secure the complete and timely payment and satisfaction of all Obligations, Assignor hereby assigns, mortgages and pledges to Assignee and grants to Assignee a security interest in, as and by way of a first mortgage and security interest having priority over all other security interests, with power of sale, to the extent permitted by law, all of such Assignor’s right, title and interest in and to all of the following, whether now owned or existing and filed or hereafter acquired or arising and filed (collectively with items named in section 2.2, below, the “Collateral”):

 

 

 

 

 

(a)    patents and patent applications, including, without limitation, the inventions and improvements described and claimed therein, and those patents listed on Exhibit “A”, attached hereto and made a part hereof, and (i) the reissues, divisions, continuations, renewals, extensions and continuations-in-part thereof, (ii) all income, royalties, damages and payments now and hereafter due and/or payable under and with respect thereto, including, without limitation, damages and payments for past or future infringements thereof, (iii) the right to sue for past, present and future infringements thereof, and (iv) all rights corresponding thereto throughout the world (all of the foregoing patents and applications, together with the items described in clauses (i)-(iv), are sometimes hereinafter individually and/or collectively referred to as the “Patents”);

 

(b)    copyrights, copyright registrations, copyright applications and all computer programs, operating systems, application systems, hardware or software of any nature whatsoever owned by Assignor, whether operational, under development or inactive, including all object codes, source codes, modules, technical manuals, user manuals, operating instructions and procedures, in-put and out-put formats, program listings, narrative descriptions, program flow charts, file layouts, report layouts, screen layouts and other documentation therefor (including internal notes, memoranda, status evaluations, marketing information and write-ups), and all improvements, modifications, enhancements, new releases and revisions thereof, whether in machine-readable form, programming language or any other language or symbols, and whether stored, encoded, recorded or written on disk, tape, film, memory device, paper or other media of any nature; together with all tangible media upon which any of the foregoing are recorded or encoded, including, without limitation, all chips, disks, tapes, film and paper; including, without limitation, the copyrights, copyrights registrations and copyrights applications listed on Exhibit “C” attached hereto and made a part hereof, and (i) all renewals thereof, (ii) all income, royalties, damages and payments now and hereafter due and/or payable with respect thereto, including, without limitation, damages and payments for past or future infringements thereof, and (c) the right to sue for past, present and future infringements thereof (all of the foregoing items are sometimes referred to herein collectively as the “Copyrights”); and

 

(c)    all material license agreements with any other party, whether Assignor is a licensor or licensee under any such license agreement, including, without limitation, the licenses listed on Exhibit “D” attached hereto and made a part hereof, and the right to prepare for sale, sell and advertise for sale all inventory now or hereafter owned by Assignor and now or hereafter covered by such licenses (all of the foregoing is hereinafter referred to collectively as the “Licenses”).

 

2.2    Security Interest. To secure the complete and timely payment and satisfaction of all Obligations, Assignor hereby mortgages and pledges to Assignee and grants to Assignee a security interest in, as and by way of a first mortgage and security interest having priority over all other security interests, with power of sale, to the extent permitted by law, all of such Assignor’s right, title and interest in and to all of the following, whether now owned or existing and filed or hereafter acquired or arising and filed (collectively with items named in section 2.1, above, the “Collateral”):

 

(a)    servicemarks, trademarks, servicemark and trademark registrations, tradenames, trademark applications, and all goodwill attendant thereto, including, without limitation, the servicemarks, trademarks, tradenames, registrations and applications listed on Exhibit “B”, attached hereto and made a part hereof, and (i) all renewals thereof, (ii) all income, royalties, damages and payments now and hereafter due and/or payable with respect thereto, including without limitation, damages and payments for past or future infringements thereof, (iii) the right to sue for past, present and future infringements thereof, and (iv) all rights corresponding thereto throughout the world (all of the foregoing servicemarks, trademarks, servicemark and trademark registrations, tradenames and applications together with the items described in clauses (i)-(iv), are sometimes hereinafter individually and/or collectively referred to as the “Trademarks”).

 

-2-

 

 

3.    Restrictions on Future Agreements. Assignor agrees that until all Obligations shall have been satisfied in full and the Loan Agreement shall have been terminated, Assignor will not, without Assignee’s prior written consent, enter into any agreement (including, without limitation, any license or royalty agreement) which is inconsistent with Assignor’s obligations under this Security Agreement or the Loan Agreement and Assignor further agrees that it will not take any action, or permit any action to be taken by others, subject to its control, including licensees, or fail to take any action, which would affect the validity or enforcement of the rights of Assignee under this Security Agreement.

 

4.    New Patents, Trademarks, and Licenses. Assignor represents and warrants that the Patents, Trademarks, Copyrights and Licenses listed on Exhibits “A”, “B”, “C” and “D”, respectively, constitute all of the patents, trademarks, copyrights, applications and licenses, now owned by Assignor. If, before all Obligations shall have been satisfied in full and the Loan Agreement shall have been terminated, Assignor shall (i) obtain rights to any new patentable inventions, trademarks, trademark registrations, tradenames, copyrights or licenses, or (ii) become entitled to the benefit of any patent, trademark or copyright application, trademark, trademark registration or license renewal, or patent for any reissue, division, continuation, renewal, extension, or continuation-in-part of any Patent or any improvement on any Patent, the provisions of Article 2 above shall automatically apply thereto and Assignor shall give to Assignee prompt written notice thereof. Assignor hereby authorizes Assignee to modify this Security Agreement by amending Exhibit “A”, “B”, “C” and/or “D”, as applicable, to include any future patents, patent applications, trademarks, trademark registrations, trademark applications, tradenames, copyrights and licenses which are Patents, Trademarks, Copyrights or Licenses, as applicable, under Article 2 above or under this Section 4. Assignor hereby agrees to provide to Assignee such assignment or other documentation as Assignee may request to record Assignee’s lien on such future Patents, Trademarks, Copyrights or Licenses.

 

5.    Royalties; Term. Assignor hereby agrees that the use by Assignee of all Patents, Trademarks, Copyrights and Licenses as described herein shall be worldwide and without any liability for royalties or other related charges from Assignee to Assignor. The term of the security interest granted herein shall extend until the earlier of (i) the expiration of each of the respective Patents, Trademarks, Copyrights and Licenses assigned hereunder, or (ii) the date on which all Obligations has been paid in full and the Loan Agreement is terminated.

 

6.    Assignee’s Right to Inspect. Assignee shall, subject to any limitation in Section 10.6 of the Loan Agreement, have the right, at any time and from time to time, to inspect Assignor’s premises and to examine Assignor’s books, records and operations, including, without limitation, Assignor’s quality control processes. Assignor agrees that upon the occurrence and continuation of an Event of Default, Assignee, or a conservator appointed by Assignee, shall have the right to establish such additional reasonable product quality controls as Assignee, or said conservator, in its sole judgment, may deem necessary to assure maintenance of the quality of products sold by Assignor under the Trademarks. Assignor agrees (i) not to sell or assign its interest in, or grant any license under, the Patents, Trademarks, Copyrights or Licenses, outside of the ordinary course of business; (ii) to maintain the quality of any and all products in connection with which the Trademarks and/or Copyrights are used, consistent with quality of said products as of the date hereof; (iii) not to adversely change the quality of said products without Assignee’s express written consent; and (iv) to provide Assignee, upon request, with a certificate of an officer of Assignor certifying Assignor’s compliance with the foregoing.

 

-3-

 

 

7.    Termination. This Security Agreement is made for collateral purposes only. Upon payment in full of all Obligations and termination of the Loan Agreement, Assignee shall execute and deliver to Assignor a termination of Assignee’s security interest granted herein and all deeds, assignments and other instruments as may be necessary or proper to re-vest in Assignor full title to the Patents, Trademarks, Copyrights and Licenses, subject to any disposition thereof which may have been made by Assignee pursuant hereto.

 

8.    Duties of Assignor. Assignor shall have the duty (i) to prosecute diligently any patent, trademark and copyright application pending as of the date hereof or thereafter until all Obligations shall have been paid in full and the Loan Agreement is terminated, (ii) to make application on unpatented but patentable inventions and on trademarks and copyrights, as appropriate, and (iii) to preserve and maintain all rights in patent applications and patents of the Patents, in trademark applications, trademarks and trademark registrations of the Trademarks and in copyright applications and copyrights of the Copyrights. Any expenses incurred in connection with such applications shall be borne by Assignor. Assignor shall not abandon any right to file a patent, trademark or copyright application, or any pending patent, trademark or copyright application or any Patent, Trademark, License or Copyright without the consent of the Assignee, which consent shall not be unreasonably withheld.

 

9.    Event of Default. Upon the occurrence and during the continuance of an Event of Default, as defined in the Loan Agreement, Assignee may, without further notice to or consent of Assignor, immediately record all assignments previously executed and delivered to Assignee by Assignor and/or execute and record with all applicable offices (including, without limitation, the Patent and Trademark Office) an absolute assignment to Assignee by Assignor of all rights, title and interest of Assignor in and to the Patents, Trademarks, Copyrights, Licenses and other Collateral. Assignor hereby authorizes and agrees that Assignee may, through the power of attorney granted in Section 14 hereof, irrevocably execute and deliver in Assignor’s name any and all such assignments and agreements and to take any and all other actions in Assignor’s name as Assignee shall deem reasonable or appropriate to transfer and convey all right, title and interest of Assignor in and to the Collateral to Assignee or any other person or entity selected by Assignee.

 

10.    Assignee’s Right to Sue. Assignee shall have the right, but shall in no way be obligated, to bring suit in its own name to enforce the Patents, Trademarks, Copyrights and/or Licenses, and any licenses thereunder, and, if Assignee shall commence any such suit, Assignor shall, at the request of Assignee, do any and all lawful acts and execute any and all proper documents required by Assignee in aid of such enforcement and Assignor shall promptly, upon demand, reimburse and indemnify Assignee for all costs and expenses incurred by Assignee in the exercise of its rights under this Section 10.

 

-4-

 

 

11.    Waivers. No course of dealing between Assignor and Assignee, nor any failure to exercise, nor any delay in exercising, on the part of Assignee, any right, power or privilege hereunder or under the Loan Agreement shall operate as a waiver thereof; nor shall any single or partial exercise of any right, power or privilege hereunder or thereunder preclude any other or further exercise thereof or the exercise of any other right, power or privilege.

 

12.    Severability. The provisions of this Security Agreement are severable, and if any clause or provision shall be invalid and unenforceable in whole or in part in any jurisdiction, then such invalidity or unenforceability shall affect only such clause or provision, or part thereof, in such jurisdiction, and shall not in any manner affect such clause or provision in any other jurisdiction, or any other clause or provision of this Security Agreement in any jurisdiction.

 

13.    Modification. This Security Agreement cannot be altered, amended or modified in any way, except as specifically provided in Section 4 hereof or by a writing signed by the parties hereto.

 

14.    Cumulative Remedies; Power of Attorney; Effect on Loan Agreement. All of Assignee’s rights and remedies with respect to the Patents, Trademarks, Copyrights and Licenses, whether established hereby or by the Loan Agreement, or by any other agreements or by law shall be cumulative and may be exercised singularly or concurrently. Assignor hereby authorizes Assignee to make, constitute and appoint any officer or agent of Assignee as Assignee may select, in its sole discretion, as Assignor’s true and lawful attorney-in-fact, with power to (i) endorse Assignor’s name on all applications, documents, papers and instruments necessary or reasonably desirable for the Assignee to protect, evidence, perfect or enforce its security interest in the Patents, Trademarks, Copyrights and Licenses, (ii) intentionally omitted, (iii) following an Event of Default, grant or issue any exclusive or non-exclusive license under the Patent or Trademark to anyone, including Assignee, and/or (iv) following an Event of Default, assign, pledge, convey or otherwise transfer title in or dispose of the Patents, Trademarks, Copyrights or Licenses to anyone, including Assignee. Assignee may act under such power of attorney to take the actions referenced in Section 4. Assignee hereby ratifies all that such attorney shall lawfully do or cause to be done by virtue hereof. This power of attorney shall be irrevocable until all Obligations shall have been paid in full and the Loan Agreement shall have been terminated. Assignor acknowledges and agrees that this Security Agreement is not intended to limit or restrict in any way the rights and remedies of Assignee under the Loan Agreement but rather is intended to facilitate the exercise of such rights and remedies given it by the terms of this Security Agreement, all rights and remedies allowed by law and the rights and remedies of a secured party under the Uniform Commercial Code as enacted in any jurisdiction in which the Patents, Trademarks, Copyrights or Licenses may be located.

 

15.    Binding Effect; Benefits. This Security Agreement shall be binding upon the Assignor and its successors and assigns, and shall inure to the benefit of Assignee, its nominees, successors and assigns.

 

-5-

 

 

16.    Governing Law. This Security Agreement shall be governed by and construed in accordance with the laws of the Commonwealth of Pennsylvania.

 

17.    No Novation. This Security Agreement shall amend and restate, but not satisfy, the obligations of Existing Guarantors under the Existing Security Agreement. Nothing contained herein shall be deemed to constitute a novation or satisfaction of the Existing Security Agreement, but the terms and conditions of this Security Agreement shall amend, restate, and supersede the terms and conditions of the Existing Security Agreement.

 

[Remainder of Page Intentionally Left Blank]

 

-6-

 

 

 

IN WITNESS WHEREOF, the parties hereto have duly executed this Security Agreement effective the day and year first above written.

 

	
			 

				
			BORROWER:

				
			 

			
	 	 	 
	 	INTEST CORPORATION,	 
	 	a Delaware corporation	 
	 	 	 
	
			 

				
			 

				
			 

				
			 

			
	
			 

				
			By: 

				
			/s/ Duncan Gilmour

				
			 

			
	
			 

				
			Name:

				
			Duncan Gilmour

				
			 

			
	
			 

				
			Title:

				
			Secretary, Treasurer and Chief Financial Officer

				
			 

			
	 	 	 	 
	 	 	 	 
	 	GUARANTORS:	 
	 	 	 	 
	 	AMBRELL CORPORATION,	 
	 	a Delaware corporation	 
	 	 	 	 
	 	 	 	 
	 	By:	/s/ Duncan Gilmour	 
	 	Name:	Duncan Gilmour	 
	 	Title:	Vice President, Treasurer and Secretary	 
	 	 	 	 
	 	 	 	 
	 	INTEST SILICON VALLEY CORPORATION,	 
	 	a Delaware corporation	 
	 	 	 	 
	 	 	 	 
	 	By:	/s/ Duncan Gilmour	 
	 	Name:	Duncan Gilmour	 
	 	Title:	Vice President, Treasurer and Secretary	 
	 	 	 	 
	 	 	 	 
	 	INTEST EMS, LLC,	 
	 	a Delaware limited liability company	 
	 	 	 	 
	 	 	 	 
	 	By:	/s/ Duncan Gilmour	 
	 	Name:	Duncan Gilmour	 
	 	Title:	Vice President, Treasurer and Secretary	 
	 	 	 	 
	 	 	 	 

 

-7-

 

 

	
			 

				
			TEMPTRONIC CORPORATION,

				
			 

			
	 	a Delaware corporation	 
	
			 

				
			 

				
			 

				
			 

			
	
			 

				
			 

				
			 

				
			 

			
	
			 

				
			By: 

				
			/s/ Duncan Gilmour

				
			 

			
	
			 

				
			Name:

				
			Duncan Gilmour

				
			 

			
	
			 

				
			Title:

				
			Vice President, Treasurer and Secretary

				
			 

			
	 	 	 	 
	 	 	 	 
	 	VIDEOLOGY IMAGING CORPORATION,	 
	 	a Delaware corporation	 
	 	 	 	 
	 	 	 	 
	 	By:	/s/ Duncan Gilmour	 
	 	Name:	Duncan Gilmour	 
	 	Title:	Vice President, Treasurer and Secretary	 

 

-8-

 

 

	
			 

				
			BANK:

				
			 

			
	 	 	 
	 	M&T BANK	 
	
			 

				
			 

				
			 

				
			 

			
	
			 

				
			 

				
			 

				
			 

			
	
			 

				
			By: 

				
			/s/ Steven A. Vilardi 

				
			 

			
	
			 

				
			 

				
			Steven A. Vilardi \, Vice President

				
			 

			

 

-9-

 

 

 

EXHIBIT “A”

 

TO

 

PATENTS, TRADEMARKS, COPYRIGHTS

 

AND LICENSES SECURITY AGREEMENT

 

Patents

 

	
			Registered Owner

				
			Patent Name

				
			Registration Number

				
			Date of Registration

			
	
			inTEST Corporation

				
			Method and apparatus for docking a test head with a peripheral

				
			9,897,628

				
			18-Sep-14

			
	
			inTEST Corporation

				
			Test head manipulator

				
			9,557,371

				
			6-May-08

			
	
			inTEST Corporation

				
			Test head manipulator

				
			9,347,804

				
			23-Feb-07

			
	
			inTEST Corporation

				
			Test head positioner system

				
			9,134,387

				
			17-Mar-08

			
	
			inTEST Corporation

				
			Positioner system and method of positioning

				
			8.981,807

				
			27-Jul-10

			
	
			inTEST Corporation

				
			Cradle and cable handler for a test head manipulator

				
			8,763,962

				
			17-Mar-08

			
	
			inTEST Corporation

				
			Test head docking system and method with sliding linkage

				
			8,760,182

				
			14-Jul-08

			
	
			inTEST Corporation

				
			Test head vertical support system

				
			8,700,218

				
			29-Dec-06

			
	
			inTEST Corporation

				
			Test head manipulator

				
			8,618,822

				
			23-Feb-07

			
	
			inTEST Corporation

				
			Wrist joint for positioning a test head

				
			8,444,107

				
			28-Jan-03

			
	
			inTEST Corporation

				
			Test head positioning system and method

				
			8,350,584

				
			29-Dec-06

			
	
			inTEST Corporation

				
			Test head positioner system

				
			8,212,578

				
			17-Mar-08

			
	
			inTEST Corporation

				
			Test head positioning system

				
			8,141,834

				
			10-Aug-06

			
	
			inTEST Corporation

				
			Test head positioning system and method

				
			8,035,406

				
			31-Mar-03

			
	
			inTEST Corporation

				
			Safety mechanism for materials handling system

				
			7,845,607

				
			18-Feb-03

			
	
			inTEST Corporation

				
			Modular interface

				
			7,834,718

				
			13-Dec-04

			
	
			inTEST Corporation

				
			Test head positioning system and method

				
			7,728,579

				
			31-Mar-03

			
	
			inTEST Corporation

				
			Modular interface

				
			7,605,583

				
			13-Jul-04

			
	
			inTEST Corporation

				
			Modular interface

				
			7,605,582

				
			13-Jul-04

			
	
			inTEST Corporation

				
			Computer cabinet

				
			D585,662

				
			20-Sep-07

			
	
			inTEST Corporation

				
			Test head docking system and method

				
			7,466,122

				
			16-Jul-01

			
	
			inTEST Corporation

				
			Apparatus and method for balancing and for providing a compliant range to a test head

				
			7,340,972

				
			22-Sep-00

			
	
			inTEST Corporation

				
			Modular interface

				
			7,301,326

				
			13-Jul-04

			
	
			inTEST Corporation

				
			Signal module

				
			D554,594

				
			22-Nov-06

			
	
			inTEST Corporation

				
			Signal module

				
			D554,593

				
			22-Nov-06

			
	
			inTEST Corporation

				
			Test head positioning system and method

				
			7,235,964

				
			31-Mar-03

			
	
			inTEST Corporation

				
			Signal module

				
			D535,260

				
			13-Jul-04

			
	
			inTEST Corporation

				
			Signal module

				
			D528,989

				
			13-Jul-04

			
	
			inTEST Corporation

				
			Test head docking system and method

				
			7,109,733

				
			16-Jul-01

			
	
			inTEST Corporation

				
			Apparatus and method for balancing and for providing a compliant range to a test head

				
			7,084,358

				
			20-Sep-01

			
	
			inTEST Corporation

				
			Side supports with adjustable center of gravity

				
			6,975,105

				
			20-Sep-00

			
	
			TEMPTRONIC Corporation

				
			Apparatus for attachment of accessories to processing equipment

				
			10,578,237

				
			12-Aug-16

			

 

-10-

 

 

	Registered Owner	Patent Name	Registration Number	Date of Registration
	
			TEMPTRONIC Corporation

				
			Temperature-controlled enclosures and temperature control system using the same

				
			10,060,668

				
			13-Mar-07

			
	
			TEMPTRONIC Corporation

				
			Temperature system having an impurity filter

				
			9,335,080

				
			17-Oct-11

			
	
			TEMPTRONIC Corporation

				
			Environmental test system and method eith in-situ temperature sensing of device under test (DUT)

				
			8,602,641

				
			2-May-13

			
	
			TEMPTRONIC Corporation

				
			Temperature-controlled enclosures and temperature control system using the same

				
			8,408,020

				
			13-Mar-07

			
	
			TEMPTRONIC Corporation

				
			Temperature-controlled enclosures and temperature control system using the same

				
			7,629,533

				
			13-Mar-07

			
	
			TEMPTRONIC Corporation

				
			High-flow cold air chiller (THERMONICS)

				
			7,603,871

				
			29-Jun-06

			
	
			TEMPTRONIC Corporation

				
			Method and apparatus for latent temperature control for a device under test (SIGMA)

				
			7,483,769

				
			30-Jan-06

			
	
			TEMPTRONIC Corporation

				
			Method and apparatus for latent temperature control for a device under test (SIGMA)

				
			6,993,418

				
			2-Aug-02

			
	
			TEMPTRONIC Corporation

				
			Workpiece chuck with temperature control assemble having spacers between layers providing clearance for thermoelectric modules

				
			6,886,347

				
			10-Jul-03

			
	
			TEMPTRONIC Corporation

				
			Workpiece chuck with temperature control assemble having spacers between layers providing clearance for thermoelectric modules

				
			6,745,575

				
			11-Jul-02

			
	
			TEMPTRONIC Corporation

				
			Apparatus and method for controlling temperature in a device under test using integrated temperature sensing diode

				
			6,552,561

				
			20-Apr-01

			
	
			TEMPTRONIC Corporation

				
			Apparatus and method for controlling temperature in a wafer using integrated temperature sensing diode

				
			6,545,494

				
			10-Jul-00

			
	
			Ambrell Corp

				
			Food heater

				
			10,206,250

				
			20-Apr-06

			
	
			Ambrell Corp

				
			Induction heating system

				
			9,554,423

				
			25-Oct-12

			
	
			Ambrell Corp

				
			Dynamic power balancing among multiple induction heater power units

				
			9,439,246

				
			15-Mar-13

			
	
			Ambrell Corp

				
			Power system component protection system for use with an induction heating system

				
			9,167,631

				
			25-Aug-06

			
	
			Ambrell Corp

				
			Food heater

				
			9,000,335

				
			21-Apr-06

			
	
			Ambrell Corp

				
			Induction heating systems and methods for producing an object having a varying hardness along the length of the object

				
			8,803,047

				
			14-Jun-12

			
	
			Ambrell Corp

				
			Portable food heater

				
			8,481,893

				
			28-Aug-06

			
	
			Ambrell Corp

				
			Power switching system to increase induction heating to a load from available AC mains power

				
			8,331,115

				
			15-Nov-07

			
	
			Ambrell Corp

				
			Automatic frequency compensation for pulse width modulated RF level control

				
			8,283,985

				
			25-Aug-06

			
	
			Ambrell Corp

				
			Constant phase angle control for frequency agile power switching systems

				
			8,269,532

				
			10-Aug-06

			

 

-11-

 

 

	Registered Owner	Patent Name	Registration Number	Date of Registration
	
			Ambrell Corp

				
			High voltage full bridge circuit and method for operating the same

				
			7,995,362

				
			15-Jun-06

			
	
			Ambrell Corp

				
			Constant phase angle control for frequency agile power switching systems

				
			7,906,997

				
			10-Aug-06

			
	
			Ambrell Corp

				
			Radio frequency (RF) induction cooking food heater

				
			7,829,827

				
			21-Apr-06

			
	
			Ambrell Corp

				
			Portable food heater

				
			7,804,045

				
			28-Aug-06

			
	
			Ambrell Corp

				
			Power switching system to increase induction heating to a load from available AC mains power

				
			7,787,268

				
			15-Nov-07

			
	
			Ambrell Corp

				
			Automatic frequency compensation for pulse width modulated RF level control

				
			7,626,463

				
			25-Aug-06

			
	
			Ambrell Corp, BASF Corp

				
			Fast-drying, radiofrequency-activatable inkjet inks and methods and systems for their use

				
			7,520,600

				
			1-Nov-04

			
	
			Ambrell Corp

				
			Constant phase angle control for frequency agile power switching systems

				
			7,551,011

				
			10-Aug-06

			
	
			Ambrell Corp

				
			High voltage full bridge circuit and method for operating the same

				
			7,489,530

				
			15-Jun-05

			
	
			Ambrell Corp

				
			Electrode apparatus for stray field radio frequency heating

				
			6,995,345

				
			18-Mar-02

			
	
			Ambrell Corp

				
			Induction furnace for heating a workpiece in an inert atmosphere or vacuum

				
			6,861,629

				
			9-May-02

			

 

 

Patent Applications

 

	
			Registered Owner

				
			Patent Name

				
			Application Number

				
			Filing Date

			
	
			TEMPTRONIC Corporation

				
			Temperature forcing system and method with conductive thermal probes

				
			15/437861

				
			21-Feb-17

			
	
			TEMPTRONIC Corporation

				
			System and method for device under test cooling using digital scroll compressor

				
			15/947415

				
			6-Apr-18

			
	
			TEMPTRONIC Corporation

				
			Apparatus and method for controlling temperature at multiple test sites

				
			16/692334

				
			22-Nov-19

			

 

-12-

 

 

EXHIBIT “B”

 

TO

 

PATENTS, TRADEMARKS, COPYRIGHTS

 

AND LICENSES SECURITY AGREEMENT

 

Trademarks

 

	
			Registered Owner

				
			Mark

				
			Registration Number

				
			Date of Registration

			
	
			TEMPTRONIC Corporation

				
			TEMPTRONIC

				
			3748381

				
			Feb. 16, 2010

			
	
			TEMPTRONIC Corporation

				
			THERMONICS

				
			4278707

				
			Jan. 22, 2013

			
	
			TEMPTRONIC Corporation

				
			

				
			1094282

				
			Jun. 27, 1978

			
	
			TEMPTRONIC Corporation

				
			THERMOJOGGER

				
			1433671

				
			Mar. 24, 1987

			
	
			TEMPTRONIC Corporation

				
			THERMO CHUCK

				
			1197134

				
			Jun. 8, 1982

			
	
			TEMPTRONIC Corporation

				
			THERMO STREAM

				
			1085339

				
			Feb. 14, 1984

			
	
			TEMPTRONIC Corporation

				
			THERMO SPOT

				
			5261537

				
			Aug. 5, 2017

			
	
			inTEST Corporation

				
			INTEST

				
			2503999

				
			Nov. 6, 2001

			
	
			inTEST Corporation

				
			inTEST

				
			1268558

				
			Feb. 28, 1984

			
	
			inTEST Corporation

				
			in2

				
			1255204

				
			Oct. 25, 1983

			
	
			inTEST Corporation

				
			CENTAUR

				
			3657110

				
			Jul. 21, 2009

			
	
			inTEST Corporation

				
			TRANSPAR

				
			3635236

				
			Jun. 9, 2009

			
	
			Ambrell

				
			EXPERIENCE THE EXCELLENCE

				
			5101636

				
			Dec. 13, 2016

			
	
			Ambrell

				
			EVIEW

				
			4922677

				
			Mar. 22, 2016

			
	
			Ambrell

				
			EKOHEAT

				
			4751860

				
			Jun. 9, 2015

			
	
			Ambrell

				
			EASYCOIL

				
			4746013

				
			Jun. 2, 2015

			
	
			Ambrell

				
			AMBRELL

				
			4623638

				
			Oct. 21, 2014

			
	
			Ambrell

				
			AMBRELL

				
			3317193

				
			Oct. 23, 2007

			
	
			Ambrell

				
			EKOHEAT

				
			3526330

				
			Nov. 4, 2008

			
	
			Ambrell

				
			AMERITHERM

				
			2299340

				
			Dec. 14, 1999

			
	
			Ambrell

				
			

				
			2301415

				
			Dec. 21, 1999

			
	
			Videology

				
			

				
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			78865148

				 

 

 

Trademark Applications - None.

 

-13-

 

 

EXHIBIT “C”

 

TO

 

PATENTS, TRADEMARKS, COPYRIGHTS

 

AND LICENSES SECURITY AGREEMENT

 

Copyrights

 

None.

 

-14-

 

 

 

EXHIBIT “D”

 

TO

 

PATENTS, TRADEMARKS, COPYRIGHTS

 

AND LICENSES SECURITY AGREEMENT

 

Licenses

 

None.

 

-15-

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