Document:

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Exhibit 10.11(d)

AMENDED AND RESTATED

REGISTRATION RIGHTS AGREEMENT

     This Amended and Restated Registration Rights Agreement (this “Agreement”) dated as of April
18, 2008 amends and restates the Registration Rights Agreement (the “Original Agreement”) dated as
of February 8, 2008, by and between TRM Corporation, an Oregon corporation (the “Company”), and
each of the Persons listed on the signature page hereto (each, a “Buyer”).

RECITALS

     WHEREAS, in connection with the Securities Purchase Agreement, dated as of February 8, 2008,
by and among the parties hereto (the “Original Loan Agreement”), the Company, upon the terms and
subject to the conditions of the Original Loan Agreement issued to the Buyers warrants to purchase
2,500,000 shares of the Company’s common stock, no par value per share (the “Original Warrants”)
and, in connection with the Securities Purchase Agreement, of even date herewith, by and among the
parties hereto (the “Loan Agreement”), the Company has agreed, upon the terms and subject to the
conditions of the Loan Agreement, to issue to the Buyers warrants to purchase 12,500,000 shares of
the Company’s common stock (the “New Warrants” and, collectively with the Original Warrants, the
“Warrants” and the shares of common stock issuable upon exercise of the Warrants, the “Warrant
Shares”);

     WHEREAS, to induce the Buyer to execute and deliver the Original Loan Agreement and the Loan
Agreement, the Company has agreed to provide certain registration rights under the Securities Act
of 1933, as amended, and applicable state securities laws.

     NOW, THEREFORE, in consideration of the premises and the mutual covenants herein contained and
other good and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the parties hereto hereby agree as follows:

     1. Definitions. As used in this Agreement:

     (a) “Commission” means the Securities and Exchange Commission or any other federal agency at
the time administering the Securities Act.

     (b) “Demand Registration” has the meaning set forth in Section 2(a)(i).

     (c) “Exchange Act” means the Securities Exchange Act of 1934, as amended, or any successor
federal statute, and the rules and regulations of the Commission thereunder, all as the same shall
be in effect from time to time.

     (d) “Other Holder” shall have the meaning set forth in Section 2(b).

     (e) “Other Securities” shall have the meaning set forth in Section 2(b).

 

 

     (f) “Person” means a natural person, a partnership, a corporation, a limited liability
company, an association, a joint stock company, a trust, a joint venture, an unincorporated
organization or a governmental entity or any department, agency or political subdivision thereof.

     (g) “Piggyback Registration” has the meaning set forth in Section 3(a).

     (h) “Registrable Shares” means (i) the Warrant Shares issued or issuable upon exercise of the
Warrants and (ii) any shares of capital stock issued or issuable with respect to the Warrant Shares
and the Warrants as a result of any stock split, stock dividend, recapitalization, exchange or
similar event or otherwise, without regard to any limitations on exercises of the Warrants;
provided, however, that any such Registrable Shares shall not include any Warrant Shares (i) the
sale of which has been registered pursuant to the Securities Act and have been sold pursuant to
such registration or (ii) which have been sold to the public, or are transferable without any
restrictions, pursuant to Rule 144 under the Securities Act. For all purposes of this Agreement, a
Person will be deemed to be a holder of Registrable Shares whenever such Person has the then
existing right to acquire such Registrable Shares (by exercise or conversion of securities or
otherwise), whether or not such acquisition has actually been effected.

     (i) “Registration Expenses” has the meaning ascribed to it in Section 5.

     (j) “Securities Act” means the Securities Act of 1933, as amended, or any successor federal
statute, and the rules and regulations of the Commission thereunder, all as the same shall be in
effect from time to time.

     (k) “Shelf Registration Statement” means a shelf registration statement of the Company filed
with the Commission which covers some or all of the Registrable Shares, as applicable, and, at the
option of the Company, such shares of capital stock (or other securities of the Company) as the
Company shall designate therein, on an appropriate form under Rule 415 under the Securities Act, or
any similar rule that may be adopted by the Commission, and any amendments and supplements to such
registration statement, including post-effective amendments, in each case including the prospectus
contained therein, all exhibits thereto and all material incorporated by reference therein.

     2. Demand Registration.

     (a) Requests for Registration. (i) Any time after the date hereof, any holder of the
Registrable Shares may request registration under the Securities Act of any or all of its
Registrable Shares for sale in the manner specified in such request; provided that the Company
shall not be obligated to register Registrable Shares pursuant to this Section 2(a)(i) on more than
two occasions in the aggregate. With respect to any Shelf Registration Statement, the Company will
use commercially reasonable efforts to keep the Shelf Registration Statement continuously effective
in order to permit the prospectus forming part thereof to be useable by the holders for one year
from its effective date or such shorter period that will terminate when all the Registrable Shares
covered by the Shelf Registration Statement have been sold pursuant to the Shelf Registration
Statement or cease to be Registrable Shares, and after the effectiveness of the Shelf

 

 

Registration Statement, promptly upon the request of any holder to take any action reasonably
necessary to register the sale of any Registrable Shares of such holder and to identify such holder
as a selling security holder. Any registrations requested pursuant to this Section 2(a)(i) shall
be referred to as a “Demand Registration.”

     (ii) A registration will not count as a Demand Registration until it has become effective and
unless the holders of Registrable Shares requesting such registration are able to register and sell
at least 80% of the Registrable Shares requested to be included in such registration.

     (b) Priority on Demand Registrations. The Company shall have the right to cause the
registration of additional equity securities (“Other Securities”) for sale for the account of any
Person (each, an “Other Holder”) in any registration of Registrable Shares requested by the holders
thereof pursuant to paragraph (a) above; provided, however, that if the Company is advised in
writing by a nationally recognized investment banking firm selected by such holders that, in such
firm’s good faith view, the number of Registrable Shares and Other Securities requested to be
included (i) creates a substantial risk that the price per share in such registration will be
materially and adversely affected or (ii) exceeds the number of Registrable Shares and Other
Securities which can be sold in such offering, then the Company will include in such registration,
prior to the inclusion of any Other Securities, the number of Registrable Shares requested to be
included which in the opinion of such underwriters can be sold, pro rata among the
respective holders on the basis of the number of Registrable Shares owned by such holders.

     (c) Restrictions on Registrations. The Company may postpone for up to 90 days the
filing or the effectiveness of a registration statement for a Demand Registration if the Company
delivers to the holders of Registrable Shares that have requested such Demand Registration a
certificate executed by the Company’s Chief Executive Officer to the effect that such Demand
Registration, if effected, would have a material adverse effect on any bona fide, material proposal
or plan by the Company to engage in any financing, acquisition of assets or any merger,
consolidation, tender offer or other significant transaction; provided, however, that the Company
may not utilize this right more than twice in any twelve-month period.

     3. Piggyback Registrations.

     (a) Right to Piggyback. Whenever the Company proposes to register any of its
securities under the Securities Act (whether or not for its own account) and the registration form
to be used may be used for the registration of Registrable Shares (a “Piggyback Registration”), the
Company will give prompt written notice to all holders of Registrable Shares of its intention to
effect such a registration and, subject to the terms hereof, will include in such registration all
Registrable Shares with respect to which the Company has received written requests for inclusion
therein within 15 days after the receipt of the Company’s notice.

     (b) Priority on Primary Registrations. If a Piggyback Registration is an underwritten
primary registration on behalf of the Company, and the managing underwriters advise the Company in
writing that in their opinion the number of securities requested to be included in such
registration (i) creates a substantial risk that the price per share in such registration will be
materially and adversely affected, or (ii) exceeds the number which can be

 

 

sold in such offering, then the Company will include in such registration: first, the
securities the Company proposes to sell and second, the Registrable Shares and the Other
Securities requested to be included in such registration to the extent that, in the opinion of such
underwriters, they can be sold, pro rata among the holders of such Registrable
Shares and the Other Holders on the basis of the number of Registrable Shares and Other Securities
requested to be so registered.

     (c) Priority on Secondary Registrations. If a Piggyback Registration is not an
underwritten primary registration but is an underwritten secondary registration on behalf of
holders of the Company’s securities, and the managing underwriters advise the Company in writing
that in their opinion the number of securities requested to be included in such registration (i)
creates a substantial risk that the price per share in such registration will be materially and
adversely affected, or (ii) exceeds the number which can be sold in such offering, then the Company
will include in such registration the number of securities (including Registrable Shares) that such
underwriters advise can be so sold without adversely affecting such offering, allocated pro rata
among the Other Holders and the holders of Registrable Shares on the basis of the number of
securities (including Registrable Shares) requested to be included therein by each Other Holder and
each holder of Registrable Shares.

     4. Registration Procedures.

     (a) Whenever any holders of Registrable Shares have requested that any Registrable Shares be
registered pursuant to this Agreement, the Company will use its best efforts to effect the
registration and the sale of such Registrable Shares in accordance with the intended method of
disposition thereof, and pursuant thereto the Company will as expeditiously as possible:

     (i) prepare and file with the Commission a registration statement with respect to such
Registrable Shares (after the holders of Registrable Shares included in such offering have had a
reasonable opportunity to review and comment on such registration statement (and each amendment or
prospectus filing related thereto)) and cause such registration statement to become and remain
effective for such period as may be reasonably necessary to effect the sale of such securities as
described in such request;

     (ii) prepare and file with the Commission such amendments and supplements to such
registration statement and the prospectus used in connection therewith as may be necessary to keep
such registration statement effective and comply with the provisions of the Securities Act with
respect to the disposition of all securities covered by such registration statement during such
period in accordance with the intended methods of disposition by the sellers thereof set forth in
such registration statement;

     (iii) furnish to each seller of Registrable Shares and the underwriters of the securities
being registered such number of copies of such registration statement, each amendment and
supplement thereto, the prospectus included in such registration statement (including each
preliminary prospectus) and such other documents as such seller or underwriters may reasonably
request in order to facilitate the disposition of the Registrable Shares owned by such seller or
the sale of such securities by such underwriters;

 

 

     (iv) register or qualify such Registrable Shares under such other securities or blue sky laws
of such jurisdictions as any seller or, in the case of an underwritten public offering, the
managing underwriter, reasonably requests and do any and all other acts and things which may be
reasonably necessary to enable such seller to consummate the disposition in such jurisdictions of
the Registrable Shares owned by such seller (provided, however, that the Company will not be
required to (x) qualify generally to do business in any jurisdiction where it would not otherwise
be required to qualify but for this subsection or (y) consent to general service of process in any
such jurisdiction);

     (v) cause all such Registrable Shares to be listed or authorized for quotation on each
securities exchange or automated quotation system on which similar securities issued by the Company
are then listed or quoted or, if similar securities are not then so listed or quoted, as the
holders thereof may reasonably request;

     (vi) provide a transfer agent and registrar for all such Registrable Shares not later than
the effective date of such registration statement;

     (vii) enter into such customary agreements (including underwriting agreements in customary
form) and take all such other actions as the holders of a majority of the Registrable Shares being
sold or the underwriters, if any, reasonably request in order to expedite or facilitate the
disposition of such Registrable Shares;

     (viii) make available for inspection by any seller of Registrable Shares, any underwriter
participating in any disposition pursuant to such registration statement, and any attorney,
accountant or other agent retained by any such seller or underwriter, all financial and other
records, pertinent corporate documents and properties of the Company, and cause the Company’s
officers, directors, employees and independent accountants to supply all information reasonably
requested by any such seller, underwriter, attorney, accountant or agent in connection with the
preparation of such registration statement;

     (ix) notify each seller of such Registrable Shares, promptly after it shall receive notice
thereof, of the time when such registration statement has become effective or a supplement to any
prospectus forming a part of such registration statement has been filed;

     (x) notify each seller of such Registrable Shares of any request by the Commission for the
amending or supplementing of such registration statement or prospectus or for additional
information;

     (xi) prepare and file with the Commission, promptly upon the request of any seller of such
Registrable Shares, any amendments or supplements to such registration statement or prospectus
which, in the written opinion of counsel selected by the holders of a majority of the Registrable
Shares being registered, may be required under the Securities Act in connection with the
distribution of Registrable Shares by such seller;

     (xii) prepare and promptly file with the Commission and promptly notify each seller of such
Registrable Shares of the filing of such amendment or supplement to such registration statement or
prospectus as may be necessary to correct any statements or omissions if, at the time when a
prospectus relating to such securities is required to be delivered under the

 

 

Securities Act, any event shall have occurred as the result of which any such prospectus or
any other prospectus as then in effect would include an untrue statement of a material fact or omit
to state any material fact necessary to make the statements therein, in the light of the
circumstances under which they were made, not misleading;

     (xiii) advise each seller of such Registrable Shares, promptly after it shall receive notice
or obtain knowledge thereof, of the issuance of any stop order by the Commission suspending the
effectiveness of such registration statement or the initiation or threatening of any proceeding for
such purpose and promptly use its best efforts to prevent the issuance of any stop order or to
obtain its withdrawal if such stop order is issued;

     (xiv) refrain from filing any such registration statement, prospectus, amendment or
supplement to which counsel selected by the holders of a majority of the Registrable Shares being
registered shall have objected in writing on the grounds that such amendment or supplement may not
comply in all material respects with the requirements of the Securities Act;

     (xv) at the request of any seller of such Registrable Shares furnish on the date or dates
provided for in the underwriting agreement, if any, or upon the effective date of the registration
statement: (A) an opinion of counsel, addressed to the underwriters, if any, and the sellers of
Registrable Shares, covering such matters as such underwriters, if any, and sellers may reasonably
request and as are customarily covered by the issuer’s counsel in an underwritten offering; and (B)
a letter or letters from the independent certified public accountants of the Company addressed to
the underwriters, if any, and the sellers of Registrable Shares, covering such matters as such
underwriters, if any, and sellers may reasonably request and as are customarily covered in
accountant’s letters in connection with an underwritten offering;

     (xvi) during such time as any holders of Registrable Shares may be engaged in a distribution
of Registrable Shares, comply with Regulation M promulgated under the Exchange Act, to the extent
applicable; and

     (xvii) otherwise use its best efforts to comply with the provisions of the Securities Act
with respect to the disposition of all securities covered by such registration statement in
accordance with the intended method of disposition and to make generally available to its security
holders, as soon as reasonably practicable, an earnings statement satisfying the provisions of
Section 11(a) of the Securities Act and Rule 158 thereunder.

     (b) Each holder of Registrable Shares that sells Registrable Shares pursuant to a registration
under this Agreement agrees as follows:

     (i) Such seller shall cooperate as reasonably requested by the Company with the Company in
connection with the preparation of the registration statement, and for so long as the Company is
obligated to file and keep effective the registration statement, shall provide to the Company, in
writing, for use in the registration statement, all such information regarding such seller and its
plan of distribution of the Registrable Shares as may be reasonably necessary to enable the Company
to prepare the registration statement and prospectus covering the Registrable Shares, to maintain
the currency and effectiveness thereof and otherwise to comply with all applicable requirements of
law in connection therewith; and

 

 

     (ii) During such time as such seller may be engaged in a distribution of the Registrable
Shares, such seller shall (A) comply with Regulation M promulgated under the Exchange Act, to the
extent applicable, (B) distribute the Registrable Shares under the registration statement solely in
the manner described in the registration statement and (C) cease distribution of such Registrable
Shares pursuant to such registration statement upon receipt of written notice from the Company that
the prospectus covering the Registrable Shares contains any untrue statement of a material fact or
omits a material fact required to be stated therein or necessary to make the statements therein not
misleading.

     5. Registration Expenses.

     (a) All expenses incident to the Company’s performance of or compliance with this Agreement,
including all registration and filing fees, fees of transfer agents and registrars, fees and
expenses of compliance with securities or blue sky laws, fees of the Financial Industry Regulatory
Authority, printing expenses, road show expenses, fees and disbursements of counsel for the
Company, fees and expenses of the Company’s independent certified public accountants, and the fees
and expenses of any underwriters (excluding underwriting discounts and commissions attributable to
the Registrable Shares included in such registration) and other Persons retained by the Company
(all such expenses being herein called “Registration Expenses”), will be borne by the Company. In
addition, the Company will pay its internal expenses (including all salaries and expenses of its
officers and employees performing legal or accounting duties), the expense of any annual audit or
quarterly review, the expense of any liability insurance obtained by the Company and the expenses
and fees for listing or authorizing for quotation the securities to be registered on each
securities exchange or automated quotation system on which any shares of common stock are then
listed or quoted.

     (b) In connection with each Demand Registration and each Piggyback Registration effected
pursuant to this Agreement, the Company will reimburse the holders of Registrable Shares covered by
such registration for such holders’ out-of-pocket expenses and the reasonable fees and expenses of
one special counsel for the holders chosen by the holders of a majority of such Registrable Shares.

     (c) Notwithstanding paragraphs (a) and (b) above, the holders of the Registrable Shares agree
that in the event any such holders voluntarily withdraw their registration demand, such holders
shall pay their pro rata portion of Registration Expenses incurred in such registration or
surrender a single registration demand, as set forth in Section 2(a) above, as a result of such
withdrawal.

     6. Indemnification.

     (a) In the event of a registration of the Registrable Shares under the Securities Act pursuant
to the terms hereof, the Company agrees to indemnify, hold harmless and defend, to the fullest
extent permitted by law, each seller of Registrable Shares, its officers, directors shareholders,
partners, members, employees and agents and each Person who controls such seller (within the
meaning of the Securities Act or the Exchange Act) against all losses, claims, damages, liabilities
and expenses (including reasonable attorneys’ fees except as limited by Section 6(c)) caused by (i)
any untrue or alleged untrue statement of a material fact contained in

 

 

any registration statement under which such Registrable Shares were registered, any prospectus
or preliminary prospectus contained therein or any amendment thereof or supplement thereto, any
Issuer Free Writing Prospectus or any amendment thereof or supplement thereto, (ii) any omission or
alleged omission of a material fact required to be stated therein or necessary to make the
statements therein not misleading or (iii) any violation or alleged violation by the Company of the
Securities Act, the Exchange Act, any state securities laws or any rule or regulation promulgated
under the Securities Act, the Exchange Act or any state securities law, except insofar as the same
are caused by or contained in any information furnished in writing to the Company or any managing
underwriter by such seller or any such controlling person expressly for use therein. In connection
with an underwritten offering, the Company will indemnify such underwriters, their officers and
directors and each Person who controls such underwriters (within the meaning of the Securities Act
or the Exchange Act) to the same extent as provided above with respect to the indemnification of
the sellers of Registrable Shares (and with the same exception with respect to information
furnished or omitted by such underwriter or controlling person thereof) and in connection therewith
the Company shall enter into an underwriting agreement in customary form containing such provisions
for indemnification and contribution as shall be reasonably requested by the underwriters.

     (b) In connection with any registration statement in which a seller of Registrable Shares is
participating, each such seller will furnish to the Company in writing such information as the
Company reasonably requests for use in connection with any such registration statement or
prospectus and, to the fullest extent permitted by law, will indemnify, hold harmless and defend
the Company, its directors and officers and each Person who controls the Company (within the
meaning of the Securities Act) and each underwriter and controlling person thereof against any
losses, claims, damages, liabilities and expenses (including reasonable attorneys’ fees except as
limited by Section 6(c)) resulting from any untrue statement of a material fact contained in the
registration statement, prospectus or preliminary prospectus or any amendment thereof or supplement
thereto or any omission of a material fact required to be stated therein or necessary to make the
statements therein not misleading, but only to the extent that such untrue statement or omission is
contained in any information so furnished in writing to the Company or any managing underwriter by
such seller or a controlling person thereof expressly for use therein; provided that the obligation
to indemnify will be several, not joint and several, among such sellers of Registrable Shares, and
the liability of each such seller of Registrable Shares will be limited to the net amount received
by such seller from the sale of Registrable Shares pursuant to such registration statement.

     (c) Any Person entitled to indemnification hereunder will (i) give prompt written notice to
the indemnifying party of any claim with respect to which it seeks indemnification (provided that
the failure to give such notice shall not limit the rights of such Person except to the extent such
failure to give notice shall materially prejudice the rights of the indemnifying party) and (ii)
unless in such indemnified party’s reasonable judgment (with written advice of counsel) a conflict
of interest between such indemnified and indemnifying parties may exist with respect to such claim,
permit such indemnifying party to assume the defense of such claim with counsel reasonably
satisfactory to the indemnified party. If such defense is assumed, the indemnifying party will not
enter into any settlement without the indemnified party’s prior written consent unless such
settlement includes an unconditional release of the indemnified party from liability relating to
the claim. An indemnifying party who

 

 

is not entitled to, or elects not to, assume the defense of a claim will not be obligated to
pay the fees and expenses of more than one counsel for all parties indemnified by such indemnifying
party with respect to such claim, unless in the reasonable judgment (with written advice of
counsel) of any indemnified party a conflict of interest may exist between such indemnified party
and any other of such indemnified parties with respect to such claim.

     (d) Each party hereto agrees that, if for any reason the indemnification provisions
contemplated by Section 6(a) or Section 6(b) are unavailable to or insufficient to hold harmless an
indemnified party in respect of any losses, claims, damages, liabilities or expenses (or actions in
respect thereof) referred to therein, then each indemnifying party shall contribute to the amount
paid or payable by such indemnified party as a result of such losses, claims, damages, liabilities
or expenses (or actions in respect thereof) in such proportion as is appropriate to reflect the
relative fault of the indemnifying party and the indemnified party as well as any other relevant
equitable considerations. The relative fault of such indemnifying party and indemnified party
shall be determined by reference to, among other things, whether the untrue or alleged untrue
statement of a material fact or omission or alleged omission to state a material fact relates to
information supplied by such indemnifying party or indemnified party, and the parties’ relative
intent, knowledge, access to information and opportunity to correct or prevent such statement or
omission. The parties hereto agree that it would not be just and equitable if contribution
pursuant to this Section 6(d) were determined by pro rata allocation (even if the holders or any
underwriters or all of them were treated as one entity for such purpose) or by any other method of
allocation which does not take account of the equitable considerations referred to in this Section
6(d). The amount paid or payable by an indemnified party as a result of the losses, claims,
damages, liabilities or expenses (or actions in respect thereof) referred to above shall be deemed
to include any legal or other fees or expenses reasonably incurred by such indemnified party in
connection with investigating or, except as provided in Section 6(c), defending any such action or
claim. Notwithstanding the provisions of this Section 6(d), no holder shall be required to
contribute an amount greater than the dollar amount of the proceeds received by such holder with
respect to the sale of any Registrable Shares. No person guilty of fraudulent misrepresentation
(within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from
any person who was not guilty of such fraudulent misrepresentation. The holders’ obligations in
this Section 6(d) to contribute shall be several in proportion to the amount of Registrable Shares
registered by them and not joint.

     (e) The indemnification and contribution provided for under this Agreement will remain in full
force and effect regardless of any investigation made by or on behalf of the indemnified party or
any officer, director or controlling Person of such indemnified party and shall survive the
offering of Registrable Shares in a registration statement.

     7. Compliance with Rule 144. The Company shall file with the Commission all reports
and other documents required of the Company pursuant to Rule 144(c)(1) and, at the request of any
holder who proposes to sell securities in compliance with Rule 144, forthwith furnish to such
holder a written statement of compliance with the same.

 

 

     8. Form S-3 Registrations. In case the Company shall receive a written request from holders of at least 25% of the
Registrable Shares that the Company effect a registration on Form S-3, and any related
qualification or compliance with respect to all or a part of the Registrable Shares owned by such
holder or holders, the Company will:

     (a) promptly give written notice of the proposed registration, and any related qualification
or compliance, to all other holders of Registrable Shares; and

     (b) as soon as practicable, but in any event within 15 business days, effect such registration
and all such qualifications and compliances as may be so requested and as would permit or
facilitate the sale and distribution of all or such portion of such holder’s or holders’
Registrable Shares as are specified in such request, together with all or such portion of the
Registrable Shares of any other holder or holders joining in such request as are specified in a
written request given within five (5) days after receipt of such written notice from the Company;
provided, however, that the Company shall not be obligated to effect any such
registration, qualification or compliance, pursuant to this Section 8: (i) if Form S-3 is not
available for such offering by the holders; (ii) if the Company shall furnish to the holders a
certificate signed by the President of the Company stating that in the good faith judgment of the
Board of Directors of the Company, it would be seriously detrimental to the Company and its
stockholders for such Form S-3 registration to be effected at such time, in which event the Company
shall have the right to defer the filing of the Form S-3 registration statement for a period of not
more than 30 days after receipt of the request of the holder or holders under this Section 8;
provided, however, that the Company shall not utilize this right more than once in any twelve month
period; (iii) if the Company has, in the six (6)-month period preceding the date of such request,
already effected a registration pursuant to this Section 8; or (iv) in any particular jurisdiction
in which the Company would be required to qualify to do business or to execute a general consent to
service of process in effecting such registration, qualification or compliance.

     (c) Subject to the foregoing, the Company shall file a registration statement covering the
Registrable Shares and other securities so requested to be registered as soon as practicable after
receipt of the request or requests of the holders. All Registration Expenses incurred in connection
with a registration requested pursuant to this Section 8, including, without limitation, all
registration, filing, qualification, printer’s and accounting fees and the reasonable fees and
disbursements of counsel for the selling holder or holders and counsel for the Company, shall be
borne by the Company. Registrations effected pursuant to this 8 shall not be counted as Demand
Registrations effected pursuant to Section 2.

     9. Participation in Underwritten Registrations. No Person may participate in any
registration hereunder which is underwritten unless such Person (a) agrees to sell such Person’s
securities on the basis provided in any underwriting arrangements approved by the Person or Persons
entitled hereunder to approve such arrangements and (b) completes and executes all questionnaires,
powers of attorney, indemnities, underwriting agreements and other documents required under the
terms of such underwriting arrangements.

     10. Amendments and Waivers. Except as otherwise expressly provided herein, the
provisions of this Agreement may be amended or waived at any time only by the written agreement of
the Company and a majority in interest of the holders of the Registrable

 

 

Shares; provided that any
such amendment or waiver shall apply equally to all holders of Registrable Shares. Any waiver,
permit, consent or approval of any kind or character on the part of any such holders of any
provision or condition of this Agreement must be made in writing and shall be effective only to the
extent specifically set forth in writing.

     11. Successors and Assigns. Except as otherwise expressly provided herein, all
covenants and agreements contained in this Agreement by or on behalf of any of the parties hereto
will bind and inure to the benefit of the respective successors and assigns of the parties hereto,
whether so expressed or not. In addition, the provisions of this Agreement which are for the
benefit of the holders of Registrable Shares are also for the benefit of, and enforceable by, any
subsequent holder of Registrable Shares who consents in writing to be bound by this Agreement.

     12. Final Agreement. This Agreement constitutes the final agreement of the parties
concerning the matters referred to herein, and supersedes all prior agreements and understandings.

     13. Limit on Future Registration Rights.

     The Company will not grant any other registration rights to any Person (other than (a)
registration rights that are subordinate to or, in the case of registration rights granted to the
seller in connection with stock issued as consideration in connection with the Acquisition (as
defined in the Loan Agreement), no more than pari passu with, the registration rights granted
herein to the holders of Registrable Shares and (b) registration rights previously granted to the
Other Holders) without the consent from holders of at least 51% of the Registrable Shares.

     14. Severability. Whenever possible, each provision of this Agreement will be
interpreted in such manner as to be effective and valid under applicable law, but if any provision
of this Agreement is held to be prohibited by or invalid under applicable law, such provision will
be ineffective only to the extent of such prohibition or invalidity, without invalidating the
remainder of this Agreement.

     15. Descriptive Heading. The descriptive headings of this Agreement are inserted for
convenience of reference only and do not constitute a part of and shall not be utilized in
interpreting this Agreement.

     16. Notices. Any notices required or permitted to be sent hereunder shall be
delivered personally or mailed, certified mail, return receipt requested, or delivered by overnight
courier service to the following addresses, or such other addresses as shall be given by notice
delivered hereunder, or transmitted by facsimile transmission, and shall be deemed to have been
given upon delivery, if delivered personally, when confirmation of transmission is received, if
transmitted by facsimile, three business days after mailing, if mailed, one business day after
delivery to the courier, if delivered by overnight courier service, or, in the case of facsimile
transmission, when received:

     If to the holders of Registrable Shares, to the addresses set forth on the record books of the
Company.

 

 

If to the Company:

5208 N. E. 122nd Avenue

Portland, OR 97230

Telephone: (215) 832-0074

Telecopier: (215) 832-0078

     17. GOVERNING LAW. THE VALIDITY, MEANING AND EFFECT OF THIS AGREEMENT SHALL BE DETERMINED IN
ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK APPLICABLE TO CONTRACTS MADE AND TO BE PERFORMED
IN THAT STATE.

     18. Counterparts. This Agreement may be executed in any number of counterparts, each
of which when so executed and delivered shall be deemed an original, and such counterparts together
shall constitute one instrument. Each party shall receive a duplicate original of the counterpart
copy or copies executed by it and the Company.

     19. Injunctive Relief. Each of the parties hereto acknowledges that in the event of a
breach by any of them of any material provision of this Agreement, the aggrieved party may be
without an adequate remedy at law. Each of the parties therefore agrees that in the event of such
a breach hereof the aggrieved party may elect to institute and prosecute proceedings in any court
of competent jurisdiction to enforce specific performance or to enjoin the continuing breach
hereof. By seeking or obtaining any such relief, the aggrieved party shall not be precluded from
seeking or obtaining any other relief to which it may be entitled.

* * * * * * *

This Amended and Restated Registration Rights Agreement was executed on the date first set forth
above.

	 	 	 	 	 
	 	TRM CORPORATION	 
	 
	 	By:  	          /s/ Richard B. Stern
 	 
	 	 	Name:  	Richard B. Stern 	 
	 	 	Title:  	Chief Executive Officer & President 	 
	 
	 	LC CAPITAL MASTER FUND, LTD.

 	 
	 	By:  	/s Richard F. Conway
 	 
	 	 	Name:  	Richard F. Conway 	 
	 	 	Title:  	Directorexv10w11wxey

Exhibit 10.11(e)

Execution Version

 

GUARANTEE AND COLLATERAL AGREEMENT

dated as of

April 18, 2008

among

TRM CORPORATION,

the Subsidiaries of the Issuer

from time to time party hereto

and

LAMPE, CONWAY & CO., LLC

as Collateral Agent

 

 

 

TABLE OF CONTENTS

	 	 	 	 	 
	 	 	Page
	ARTICLE I
	 	 	 	 
	 
	 	 	 	 
	Definitions
	 	 	 	 
	 
	 	 	 	 
	SECTION 1.01. Securities Purchase Agreement

	 	 	1	 
	SECTION 1.02. Other Defined Terms

	 	 	1	 
	 
	 	 	 	 
	ARTICLE II
	 	 	 	 
	 
	 	 	 	 
	Guarantee
	 	 	 	 
	 
	 	 	 	 
	SECTION 2.01. Guarantee

	 	 	4	 
	SECTION 2.02. Guarantee of Payment

	 	 	5	 
	SECTION 2.03. No Limitations, Etc.

	 	 	5	 
	SECTION 2.04. Reinstatement

	 	 	6	 
	SECTION 2.05. Agreement To Pay; Subrogation

	 	 	6	 
	SECTION 2.06. Information

	 	 	6	 
	 
	 	 	 	 
	ARTICLE III
	 	 	 	 
	 
	 	 	 	 
	Pledge of Securities
	 	 	 	 
	 
	 	 	 	 
	SECTION 3.01. Pledge

	 	 	6	 
	SECTION 3.02. Delivery of the Pledged Collateral

	 	 	7	 
	SECTION 3.03. Representations, Warranties and Covenants

	 	 	8	 
	SECTION 3.04. Certification of Limited Liability Company Interests and Limited Partnership
Interests

	 	 	9	 
	SECTION 3.05. Denominations

	 	 	9	 
	SECTION 3.06. Voting Rights; Dividends and Interest, Etc.

	 	 	9	 
	 
	 	 	 	 
	ARTICLE IV
	 	 	 	 
	 
	 	 	 	 
	Security Interests in Personal Property
	 	 	 	 
	 
	 	 	 	 
	SECTION 4.01. Security Interest

	 	 	12	 
	SECTION 4.02. Representations and Warranties

	 	 	13	 
	SECTION 4.03. Covenants

	 	 	15	 
	SECTION 4.04. Other Actions

	 	 	18	 
	SECTION 4.05. Covenants Regarding Patent, Trademark and Copyright Collateral

	 	 	21	 

 

 

	 	 	 	 	 
	 	 	Page
	ARTICLE V
	 	 	 	 
	 
	 	 	 	 
	Remedies
	 	 	 	 
	 
	 	 	 	 
	SECTION 5.01. Remedies Upon Default

	 	 	22	 
	SECTION 5.02. Application of Proceeds

	 	 	24	 
	SECTION 5.03. Grant of License to Use Intellectual Property

	 	 	25	 
	SECTION 5.04. Securities Act, Etc.

	 	 	25	 
	 
	 	 	 	 
	ARTICLE VI
	 	 	 	 
	 
	 	 	 	 
	Indemnity, Subrogation and Subordination
	 	 	 	 
	 
	 	 	 	 
	SECTION 6.01. Indemnity and Subrogation

	 	 	26	 
	SECTION 6.02. Contribution and Subrogation

	 	 	26	 
	SECTION 6.03. Subordination

	 	 	27	 
	 
	 	 	 	 
	ARTICLE VII
	 	 	 	 
	 
	 	 	 	 
	Miscellaneous
	 	 	 	 
	 
	 	 	 	 
	SECTION 7.01. Notices

	 	 	27	 
	SECTION 7.02. Security Interest Absolute

	 	 	27	 
	SECTION 7.03. Survival of Agreement

	 	 	28	 
	SECTION 7.04. Limitation by Law

	 	 	28	 
	SECTION 7.05. Binding Effect; Several Agreement

	 	 	28	 
	SECTION 7.06. Successors and Assigns

	 	 	28	 
	SECTION 7.07. Collateral Agent’s Fees and Expenses; Indemnification

	 	 	28	 
	SECTION 7.08. Collateral Agent Appointed Attorney-in-Fact

	 	 	29	 
	SECTION 7.09. Applicable Law

	 	 	30	 
	SECTION 7.10. Waivers; Amendment

	 	 	30	 
	SECTION 7.11. WAIVER OF JURY TRIAL

	 	 	31	 
	SECTION 7.12. Severability

	 	 	31	 
	SECTION 7.13. Counterparts

	 	 	31	 
	SECTION 7.14. Headings

	 	 	31	 
	SECTION 7.15. Jurisdiction; Consent to Service of Process

	 	 	31	 
	SECTION 7.16. Termination or Release

	 	 	32	 
	SECTION 7.17. Additional Subsidiaries

	 	 	33	 
	SECTION 7.18. Right of Setoff

	 	 	33	 

 

 

	 	 	 
	 Schedules 
	 	 
	 
	 	 
	Schedule I

	 	Subsidiary Guarantors
	Schedule II

	 	Equity Interests; Pledged Debt Securities
	Schedule III

	 	Intellectual Property
	 
	 	 
	 Exhibits 
	 	 
	 
	 	 
	Exhibit A

	 	Form of Supplement
	Exhibit B

	 	Form of Perfection Certificate

 

 

          GUARANTEE AND COLLATERAL AGREEMENT dated as of April 18, 2008 (this “Agreement”), among TRM
CORPORATION., an Oregon corporation (the “Issuer”), the Subsidiaries of the Issuer from time to
time party hereto and LAMPE, CONWAY & CO., LLC (“Lampe”), as collateral agent (in such capacity,
the “Collateral Agent”).

PRELIMINARY STATEMENT

          Reference is made to the Securities Purchase Agreement dated as of April 18, 2008 (as amended,
supplemented, amended and restated or otherwise modified from time to time, the “Securities
Purchase Agreement”), among the Issuer, the purchasers from time to time party thereto (each a
“Purchaser” and collectively, the “Purchasers”) and Lampe, as administrative agent (in such
capacity, the “Administrative Agent”) and Collateral Agent.

          The Purchasers (such term and each other capitalized term used but not defined in this
preliminary statement having the meaning given or ascribed to it in Article I) have agreed to
purchase Notes of the Issuer pursuant to, and upon the terms and conditions specified in, the
Securities Purchase Agreement. The obligations of the Purchaser to purchase the Notes are
conditioned upon, among other things, the execution and delivery of this Agreement by the Issuer
and each Subsidiary Guarantor. Each Subsidiary Guarantor is an affiliate of the Issuer, will
derive substantial benefits from the sale of the Notes by the Issuer pursuant to the Securities
Purchase Agreement and is willing to execute and deliver this Agreement in order to induce the
Purchasers to purchase such Notes. Accordingly, the parties hereto agree as follows:

ARTICLE I

Definitions

          SECTION 1.01. Securities Purchase Agreement. (a) Capitalized terms used in this Agreement
and not otherwise defined herein have the meanings set forth in the Securities Purchase Agreement.
All capitalized terms defined in the New York UCC (as such term is defined herein) and not defined
in this Agreement have the meanings specified therein. Except where the usage dictates otherwise,
all references to the Uniform Commercial Code shall mean the New York UCC.

          (b) The rules of construction specified in Section 1.02 of the Securities Purchase Agreement
also apply to this Agreement.

          SECTION 1.02. Other Defined Terms. As used in this Agreement, the following terms have the
meanings specified below:

          “Accounts Receivable” shall mean all Accounts and all right, title and interest in any
returned goods, together with all rights, titles, securities and guarantees with respect thereto,
including any rights to stoppage in transit, replevin, reclamation and

 

 

resales, and all related
security interests, liens and pledges, whether voluntary or involuntary, in each case whether now
existing or owned or hereafter arising or acquired.

          “Administrative Agent” shall have the meaning assigned to such term in the preliminary
statement.

          “Article 9 Collateral” shall have the meaning assigned to such term in Section 4.01.

          “Collateral” shall mean the Article 9 Collateral and the Pledged Collateral.

          “Collateral Agent” shall have the meaning assigned to such term in the preamble.

          “Copyright License” shall mean any written agreement, now or hereafter in effect, granting any
right to any third person under any copyright now or hereafter owned by any Grantor or that such
Grantor otherwise has the right to license, or granting any right to any Grantor under any
copyright now or hereafter owned by any third person, and all rights of such Grantor under any such
agreement.

          “Copyrights” shall mean all of the following now owned or hereafter acquired by any Grantor:
(a) all copyright rights in any work subject to the copyright laws of the United States or any
other country, whether as author, assignee, transferee or otherwise, and (b) all registrations and
applications for registration of any such copyright in the United States or any other country,
including registrations, recordings, supplemental registrations and pending applications for
registration in the United States Copyright Office (or any successor office or any similar office
in any other country), including those listed on Schedule III.

          “Federal Securities Laws” shall have the meaning assigned to such term in Section 5.04.

          “General Intangibles” shall mean all choses in action and causes of action and all other
intangible personal property of any Grantor of every kind and nature (other than Accounts) now
owned or hereafter acquired by any Grantor, including all rights and interests in partnerships,
limited partnerships, limited liability companies and other unincorporated entities, corporate or
other business records, indemnification claims, contract rights (including rights under leases,
whether entered into as lessor or lessee, Hedging Agreements and other agreements), Intellectual
Property, goodwill, registrations, franchises, tax refund claims and any letter of credit,
guarantee, claim, security interest or other security held by or granted to any Grantor to secure
payment by an Account Debtor of any of the Accounts.

          “Grantors” shall mean the Issuer and the Subsidiary Guarantors.

          “Intellectual Property” shall mean all intellectual and similar property of any Grantor of
every kind and nature now owned or hereafter acquired by any Grantor,

 

 

including inventions,
designs, Patents, Copyrights, Licenses, Trademarks, trade secrets, confidential or proprietary
technical and business information, know-how, show-how or other data or information, software and
databases and all embodiments or fixations thereof and related documentation, registrations and
franchises, and all additions, improvements and accessions to, and books and records describing or
used in connection with, any of the foregoing.

          “Issuer” shall have the meaning assigned to such term in the preamble.

          “License” shall mean any Patent License, Trademark License, Copyright License or other license
or sublicense agreement relating to Intellectual Property to which any Grantor is a party,
including those listed on Schedule III.

          “New York UCC” shall mean the Uniform Commercial Code as from time to time in effect in the
State of New York.

          “Patent License” shall mean any written agreement, now or hereafter in effect, granting to any
third person any right to make, use or sell any invention on which a patent, now or hereafter owned
by any Grantor or that any Grantor otherwise has the right to license, is in existence, or granting
to any Grantor any right to make, use or sell any invention on which a patent, now or hereafter
owned by any third person, is in existence, and all rights of any Grantor under any such agreement.

          “Patents” shall mean all of the following now owned or hereafter acquired by any Grantor:
(a) all letters patent of the United States or the equivalent thereof in any other country, all
registrations and recordings thereof, and all applications for letters patent of the United States
or the equivalent thereof in any other country, including registrations, recordings and pending
applications in the United States Patent and Trademark Office (or any successor or any similar
offices in any other country), including those listed on Schedule III, and (b) all reissues,
continuations, divisions, continuations-in-part, renewals or extensions thereof, and the inventions
disclosed or claimed therein, including the right to make, use and/or sell the inventions disclosed
or claimed therein.

          “Perfection Certificate” shall mean a certificate substantially in the form of Exhibit B
hereto, completed and supplemented with the schedules and attachments contemplated thereby, and
duly executed by a Responsible Officer of the Issuer.

          “Pledged Collateral” shall have the meaning assigned to such term in Section 3.01.

          “Pledged Debt Securities” shall have the meaning assigned to such term in Section 3.01.

          “Pledged Securities” shall mean any promissory notes, stock certificates or other securities
now or hereafter included in the Pledged Collateral, including all
certificates, instruments or other documents representing or evidencing any Pledged
Collateral.

 

 

          “Pledged Stock” shall have the meaning assigned to such term in Section 3.01.

          “Purchaser” shall have the meaning assigned to it in the Securities Purchase Agreement.

          “Secured Parties” shall mean (a) the Purchasers, (b) the Administrative Agent, (c) the
Collateral Agent, (d) the beneficiaries of each indemnification obligation undertaken by any Loan
Party under any Transaction Document and (e) the successors and assigns of each of the foregoing.

          “Security Interest” shall have the meaning assigned to such term in Section 4.01.

          “Subsidiary Guarantor” shall mean (a) the Subsidiaries identified on Schedule I hereto as
Subsidiary Guarantors and (b) each other Subsidiary that becomes a party to this Agreement as a
Subsidiary Guarantor after the Closing Date.

          “Trademark License” shall mean any written agreement, now or hereafter in effect, granting to
any third person any right to use any trademark now or hereafter owned by any Grantor or that any
Grantor otherwise has the right to license, or granting to any Grantor any right to use any
trademark now or hereafter owned by any third person, and all rights of any Grantor under any such
agreement.

          “Trademarks” shall mean all of the following now owned or hereafter acquired by any Grantor:
(a) all trademarks, service marks, trade names, corporate names, company names, business names,
fictitious business names, trade styles, trade dress, logos, other source or business identifiers,
designs and general intangibles of like nature, now existing or hereafter adopted or acquired, all
registrations and recordings thereof, and all registration and recording applications filed in
connection therewith, including registrations and registration applications in the United States
Patent and Trademark Office (or any successor office) or any similar offices in any State of the
United States or any other country or any political subdivision thereof, and all extensions or
renewals thereof, including those listed on Schedule III, (b) all goodwill associated therewith or
symbolized thereby and (c) all other assets, rights and interests that uniquely reflect or embody
such goodwill.

ARTICLE II

Guarantee

          SECTION 2.01. Guarantee. Each Subsidiary Guarantor unconditionally guarantees, jointly with the other Subsidiary
Guarantors and severally, as a primary obligor and not merely as a surety, the due and punctual
payment and performance of the Obligations. Each Subsidiary Guarantor further agrees that the
Obligations may be extended or renewed, in whole or in part, without notice to or further assent
from it, and that it will remain bound upon its guarantee notwithstanding any extension or renewal
of

 

 

any Obligation. Each Subsidiary Guarantor waives presentment to, demand of payment from and
protest to the Issuer or any other Loan Party of any Obligation, and also waives notice of
acceptance of its guarantee and notice of protest for nonpayment.

          SECTION 2.02. Guarantee of Payment. Each Subsidiary Guarantor further agrees that its
guarantee hereunder constitutes a guarantee of payment when due and not of collection, and waives
any right to require that any resort be had by the Collateral Agent or any other Secured Party to
any security held for the payment of the Obligations or to any balance of any Deposit Account or
credit on the books of the Collateral Agent or any other Secured Party in favor of the Issuer or
any other person.

          SECTION 2.03. No Limitations, Etc. (a) Except for termination of a Subsidiary Guarantor’s
obligations hereunder as expressly provided in Section 7.16, the obligations of each Subsidiary
Guarantor hereunder shall not be subject to any reduction, limitation, impairment or termination
for any reason, including any claim of waiver, release, surrender, alteration or compromise, and
shall not be subject to any defense or setoff, counterclaim, recoupment or termination whatsoever
by reason of the invalidity, illegality or unenforceability of the Obligations or otherwise.
Without limiting the generality of the foregoing, the obligations of each Subsidiary Guarantor
hereunder shall not be discharged or impaired or otherwise affected by (i) the failure of the
Collateral Agent or any other Secured Party to assert any claim or demand or to enforce any right
or remedy under the provisions of any Transaction Document or otherwise, (ii) any rescission,
waiver, amendment or modification of, or any release from any of the terms or provisions of, any
Transaction Document or any other agreement, including with respect to any other Subsidiary
Guarantor under this Agreement, (iii) the release of, or any impairment of or failure to perfect
any Lien on or security interest in, any security held by the Collateral Agent or any other Secured
Party for the Obligations or any of them, (iv) any default, failure or delay, willful or otherwise,
in the performance of the Obligations or (v) any other act or omission that may or might in any
manner or to any extent vary the risk of any Subsidiary Guarantor or otherwise operate as a
discharge of any Subsidiary Guarantor as a matter of law or equity (other than the indefeasible
payment in full in cash of all the Obligations). Each Subsidiary Guarantor expressly authorizes
the Collateral Agent to take and hold security for the payment and performance of the Obligations,
to exchange, waive or release any or all such security (with or without consideration), to enforce
or apply such security and direct the order and manner of any sale thereof in its sole discretion
or to release or substitute any one or more other guarantors or obligors upon or
in respect of the Obligations, all without affecting the obligations of any Subsidiary
Guarantor hereunder.

          (b) To the fullest extent permitted by applicable law, each Subsidiary Guarantor waives any
defense based on or arising out of any defense of the Issuer or any other Loan Party or the
unenforceability of the Obligations or any part thereof from any cause, or the cessation from any
cause of the liability of the Issuer or any other Loan Party, other than the indefeasible payment
in full in cash of all the Obligations. The Collateral Agent and the other Secured Parties may, at
their election, foreclose on any security held by one or more of them by one or more judicial or
nonjudicial sales, accept an assignment of any such security in lieu of foreclosure, compromise or
adjust any part

 

 

of the Obligations, make any other accommodation with the Issuer or any other Loan
Party or exercise any other right or remedy available to them against the Issuer or any other Loan
Party, without affecting or impairing in any way the liability of any Subsidiary Guarantor
hereunder except to the extent the Obligations have been fully and indefeasibly paid in full in
cash. To the fullest extent permitted by applicable law, each Subsidiary Guarantor waives any
defense arising out of any such election even though such election operates, pursuant to applicable
law, to impair or to extinguish any right of reimbursement or subrogation or other right or remedy
of such Subsidiary Guarantor against the Issuer or any other Loan Party, as the case may be, or any
security.

          SECTION 2.04. Reinstatement. Each Subsidiary Guarantor agrees that its guarantee hereunder
shall continue to be effective or be reinstated, as the case may be, if at any time payment, or any
part thereof, of any Obligation is rescinded or must otherwise be restored by the Collateral Agent
or any other Secured Party upon the bankruptcy or reorganization of the Issuer, any other Loan
Party or otherwise.

          SECTION 2.05. Agreement To Pay; Subrogation. In furtherance of the foregoing and not in
limitation of any other right that the Collateral Agent or any other Secured Party has at law or in
equity against any Subsidiary Guarantor by virtue hereof, upon the failure of the Issuer or any
other Loan Party to pay any Obligation when and as the same shall become due, whether at maturity,
by acceleration, after notice of prepayment or otherwise, each Subsidiary Guarantor hereby promises
to and will forthwith pay, or cause to be paid, to the Collateral Agent for distribution to the
applicable Secured Parties in cash the amount of such unpaid Obligation. Upon payment by any
Subsidiary Guarantor of any sums to the Collateral Agent as provided above, all rights of such
Subsidiary Guarantor against the Issuer or any other Subsidiary Guarantor arising as a result
thereof by way of right of subrogation, contribution, reimbursement, indemnity or otherwise shall
in all respects be subject to Article VI.

          SECTION 2.06. Information. Each Subsidiary Guarantor assumes all responsibility for being and keeping itself informed
of the Issuer’s and each other Loan Party’s financial condition and assets and of all other
circumstances bearing upon the risk of nonpayment of the Obligations and the nature, scope and
extent of the risks that such Subsidiary Guarantor assumes and incurs hereunder, and agrees that
neither the Collateral Agent nor any other Secured Party will have any duty to advise such
Subsidiary Guarantor of information known to it or any of them regarding such circumstances or
risks.

ARTICLE III

Pledge of Securities

          SECTION 3.01. Pledge. As security for the payment or performance, as the case may be, in full
of the Obligations, each Grantor hereby assigns and pledges to the Collateral Agent, and its
successors and assigns, for the

 

 

ratable benefit of the Secured Parties, and hereby grants to the
Collateral Agent, and its successors and assigns, for the ratable benefit of the Secured Parties, a
security interest in, all of such Grantor’s right, title and interest in, to and under (a)(i) the
Equity Interests owned by such Grantor on the date hereof (including all such Equity Interests
listed on Schedule II), (ii) any other Equity Interests obtained in the future by such Grantor and
(iii) the certificates representing all such Equity Interests (all the foregoing collectively
referred to herein as the “Pledged Stock”); provided, however, that the Pledged Stock shall not
include more than 66% of the issued and outstanding voting Equity Interests of any Foreign
Subsidiary, (b)(i) the debt securities held by such Grantor on the date hereof (including all such
debt securities listed opposite the name of such Grantor on Schedule II), (ii) any debt securities
in the future issued to such Grantor and (iii) the promissory notes and any other instruments
evidencing such debt securities (all the foregoing collectively referred to herein as the “Pledged
Debt Securities”), (c) all other property that may be delivered to and held by the Collateral Agent
pursuant to the terms of this Section 3.01, (d) subject to Section 3.06, all payments of principal
or interest, dividends, cash, instruments and other property from time to time received, receivable
or otherwise distributed in respect of, in exchange for or upon the conversion of, and all other
Proceeds received in respect of, the securities referred to in clauses (a) and (b) above,
(e) subject to Section 3.06, all rights and privileges of such Grantor with respect to the
securities and other property referred to in clauses (a), (b), (c) and (d) above, and (f) all
Proceeds of any of the foregoing (the items referred to in clauses (a) through (f) above being
collectively referred to as the “Pledged Collateral”).

          TO HAVE AND TO HOLD the Pledged Collateral, together with all right, title, interest, powers,
privileges and preferences pertaining or incidental thereto, unto the Collateral Agent, its
successors and assigns, for the ratable benefit of the Secured Parties, forever; subject, however,
to the terms, covenants and conditions hereinafter set forth.

          SECTION 3.02. Delivery of the Pledged Collateral. (a)  Each Grantor agrees promptly to deliver or cause to be delivered to the Collateral
Agent any and all certificates, instruments or other documents representing or evidencing Pledged
Securities.

          (b) Each Grantor agrees promptly to deliver or cause to be delivered to the Collateral Agent
any and all Pledged Debt Securities; provided that, so long as no Event of Default
shall have occurred and be continuing, Collateral Agent shall, promptly upon request of such
Grantor, make appropriate arrangements for making any promissory notes pledged by such Grantor
available to such Grantor for purposes of prosecution, collection or renewal.

          (c) Upon delivery to the Collateral Agent, (i) any certificate, instrument or document
representing or evidencing Pledged Securities required to be delivered pursuant to paragraphs (a)
and (b) of this Section 3.02 shall be accompanied by undated stock powers duly executed in blank or
other undated instruments of transfer satisfactory to the Collateral Agent and duly executed in
blank and by such other instruments and documents as the Collateral Agent may reasonably request
and (ii) all other property comprising part of the Pledged Collateral delivered pursuant to the
terms of this Agreement shall be accompanied by proper instruments of assignment duly executed by

 

 

the applicable Grantor and such other instruments or documents as the Collateral Agent may
reasonably request. Each delivery of Pledged Securities shall be accompanied by a schedule
describing the applicable securities, which schedule shall be attached hereto as Schedule II and
made a part hereof; provided that failure to attach any such schedule hereto shall not affect the
validity of the pledge of such Pledged Securities. Each schedule so delivered shall supplement any
prior schedules so delivered.

          SECTION 3.03. Representations, Warranties and Covenants. The Grantors jointly and severally
represent, warrant and covenant to and with the Collateral Agent, for the benefit of the Secured
Parties, that:

     (a) Schedule II (i) correctly sets forth, in respect of each issuer that is a Loan
Party or a Subsidiary thereof, the percentage of the issued and outstanding shares of each
class of the Equity Interests of the issuer thereof represented by such Pledged Stock and
(ii) includes all Equity Interests, debt securities and promissory notes required to be
pledged hereunder;

     (b) the Pledged Stock and Pledged Debt Securities issued by a Loan Party or a
Subsidiary thereof have been duly and validly authorized and issued by the issuers thereof
and (i) in the case of Pledged Stock, are fully paid and nonassessable and (ii) in the case
of Pledged Debt Securities, are legal, valid and binding obligations of the issuers
thereof;

     (c) except for the security interests granted hereunder (or otherwise permitted under
the Securities Purchase Agreement), each Grantor (i) is and, subject to any transfers made
in compliance with the Securities Purchase Agreement, will continue to be the direct owner,
beneficially and of record, of the
Pledged Securities indicated on Schedule II as owned by such Grantor, (ii) holds the
same free and clear of all Liens, (iii) will make no assignment, pledge, hypothecation or
transfer of, or create or permit to exist any security interest in or other Lien on, the
Pledged Collateral, other than transfers made in compliance with the Securities Purchase
Agreement, and (iv) subject to Section 3.06, will cause any and all Pledged Collateral,
whether for value paid by such Grantor or otherwise, to be forthwith deposited with the
Collateral Agent and pledged or assigned hereunder;

     (d) except for restrictions and limitations imposed by the Transaction Documents or
securities laws generally, the Pledged Collateral is and will continue to be freely
transferable and assignable, and none of the Pledged Collateral constituting Equity
Interests of a Loan Party or a Subsidiary thereof is or will be subject to any option,
right of first refusal, shareholders agreement, charter or by-law provisions or contractual
restriction of any nature that might prohibit, impair, delay or otherwise affect the pledge
of such Pledged Collateral hereunder, the sale or disposition thereof pursuant hereto or
the exercise by the Collateral Agent of rights and remedies hereunder;

 

 

     (e) each Grantor (i) has the power and authority to pledge the Pledged Collateral
pledged by it hereunder in the manner hereby done or contemplated and (ii) will defend its
title or interest thereto or therein against any and all Liens (other than any Lien created
or permitted by the Transaction Documents), however arising, of all persons whomsoever;

     (f) no consent or approval of any Governmental Authority, any securities exchange or
any other person was or is necessary to the validity of the pledge effected hereby (other
than such as have been obtained and are in full force and effect);

     (g) by virtue of the execution and delivery by each Grantor of this Agreement, when
any Pledged Securities are delivered to the Collateral Agent in accordance with this
Agreement, the Collateral Agent will obtain a legal, valid and perfected first priority
lien upon and security interest in such Pledged Securities as security for the payment and
performance of the Obligations; and

     (h) the pledge effected hereby is effective to vest in the Collateral Agent, for the
ratable benefit of the Secured Parties, the rights of the Collateral Agent in the Pledged
Collateral as set forth herein and all action by any Grantor necessary or desirable to
protect and perfect the Lien on the Pledged Collateral has been duly taken.

          SECTION 3.04. Certification of Limited Liability Company Interests and Limited Partnership
Interests. Each interest in any limited liability company or limited partnership which is a
Subsidiary and pledged hereunder shall be represented by a certificate, shall be
a “security” within the meaning of Article 8 of the New York UCC and shall be governed by
Article 8 of the New York UCC.

          SECTION 3.05. Denominations. The Collateral Agent, on behalf of the Secured Parties, shall
hold the Pledged Securities in the name of the applicable Grantor, endorsed or assigned in blank or
in favor of the Collateral Agent. Each Grantor will promptly give to the Collateral Agent copies
of any notices or other communications received by it with respect to Pledged Securities in its
capacity as the registered owner thereof. The Collateral Agent shall at all times have the right
to require the applicable Grantors to exchange the certificates representing Pledged Securities for
certificates of smaller or larger denominations for any purpose consistent with this Agreement.

          SECTION 3.06. Voting Rights; Dividends and Interest, Etc. (a)  Unless and until an Event of
Default shall have occurred and be continuing and the Collateral Agent shall have given the
Grantors notice of its intent to exercise its rights under this Agreement (which notice shall be
deemed to have been given immediately upon the occurrence of an Event of Default under
paragraph (h) or (i) of Article VIII of the Securities Purchase Agreement):

     (i) Each Grantor shall be entitled to exercise any and all voting and/or other
consensual rights and powers inuring to an owner of Pledged

 

 

Securities or any part
thereof for any purpose consistent with the terms of this Agreement, the Securities
Purchase Agreement and the other Transaction Documents; provided, however, that
such rights and powers shall not be exercised in any manner that will materially
and adversely affect the rights inuring to a holder of any Pledged Securities or
the rights and remedies of any of the Collateral Agent or the other Secured Parties
under this Agreement or the Securities Purchase Agreement or any other Transaction
Document or the ability of the Secured Parties to exercise the same.

     (ii) The Collateral Agent shall execute and deliver to each Grantor, or cause
to be executed and delivered to each Grantor, all such proxies, powers of attorney
and other instruments as such Grantor may reasonably request for the purpose of
enabling such Grantor to exercise the voting and/or consensual rights and powers it
is entitled to exercise pursuant to paragraph (i) above.

     (iii) Each Grantor shall be entitled to receive and retain any and all
dividends, interest, principal and other distributions paid on or distributed in
respect of the Pledged Securities to the extent and only to the extent that such
dividends, interest, principal and other distributions are permitted by, and
otherwise paid or distributed in accordance with, the terms and conditions of the
Securities Purchase Agreement, the other Transaction
Documents and applicable law; provided, however, that any noncash dividends,
interest, principal or other distributions that would constitute Pledged Stock or
Pledged Debt Securities, whether resulting from a subdivision, combination or
reclassification of the outstanding Equity Interests of the issuer of any Pledged
Securities or received in exchange for Pledged Securities or any part thereof, or
in redemption thereof, or as a result of any merger, consolidation, acquisition or
other exchange of assets to which such issuer may be a party or otherwise, shall be
and become part of the Pledged Collateral, and, if received by any Grantor, shall
not be commingled by such Grantor with any of its other funds or property but shall
be held separate and apart therefrom, shall be held in trust for the ratable
benefit of the Secured Parties and shall be forthwith delivered to the Collateral
Agent in the same form as so received (with any necessary endorsement or instrument
of assignment). This paragraph (iii) shall not apply to dividends between or among
the Issuer, the Subsidiary Guarantors and any Subsidiaries only of property subject
to a perfected security interest under this Agreement; provided that the Issuer
notifies the Collateral Agent in writing, specifically referring to this
Section 3.06 at the time of such non-cash dividend and takes any actions the
Collateral Agent reasonably specifies to ensure the continuance of its perfected
security interest in such property under this Agreement.

          (b) Upon the occurrence and during the continuance of an Event of Default, after the
Collateral Agent shall have notified (or shall be deemed to have notified pursuant

 

 

to Section
3.06(a)) the Grantors of the suspension of their rights under paragraph (a)(iii) of this
Section 3.06, then all rights of any Grantor to dividends, interest, principal or other
distributions that such Grantor is authorized to receive pursuant to paragraph (a)(iii) of this
Section 3.06 shall cease, and all such rights shall thereupon become vested in the Collateral
Agent, which shall have the sole and exclusive right and authority to receive and retain such
dividends, interest, principal or other distributions. All dividends, interest, principal or other
distributions received by any Grantor contrary to the provisions of this Section 3.06 shall be held
in trust for the benefit of the Collateral Agent, shall be segregated from other property or funds
of such Grantor and shall be forthwith delivered to the Collateral Agent upon demand in the same
form as so received (with any necessary endorsement or instrument of assignment). Any and all
money and other property paid over to or received by the Collateral Agent pursuant to the
provisions of this paragraph (b) shall be retained by the Collateral Agent in an account to be
established by the Collateral Agent upon receipt of such money or other property and shall be
applied in accordance with the provisions of Section 5.02. After all Events of Default have been
cured or waived and each applicable Grantor has delivered to the Administrative Agent certificates
to that effect, the Collateral Agent shall, promptly after all such Events of Default have been
cured or waived, repay to each applicable Grantor (without interest) all dividends, interest,
principal or other distributions that such Grantor would otherwise be permitted to retain pursuant
to the terms of paragraph (a)(iii) of this Section 3.06 and that have not been applied to payment
of the Obligations.

          (c) Upon the occurrence and during the continuance of an Event of Default, after the
Collateral Agent shall have notified (or shall be deemed to have notified pursuant to Section
3.06(a)) the Grantors of the suspension of their rights under paragraph (a)(i) of this
Section 3.06, then all rights of any Grantor to exercise the voting and consensual rights and
powers it is entitled to exercise pursuant to paragraph (a)(i) of this Section 3.06, and the
obligations of the Collateral Agent under paragraph (a)(ii) of this Section 3.06, shall cease, and
all such rights shall thereupon become vested in the Collateral Agent, which shall have the sole
and exclusive right and authority to exercise such voting and consensual rights and powers;
provided that, unless otherwise directed by the Required Purchasers, the Collateral Agent shall
have the right from time to time following and during the continuance of an Event of Default to
permit the Grantors to exercise such rights.

          (d) Any notice given by the Collateral Agent to the Grantors exercising its rights under
paragraph (a) of this Section 3.06 (i) may suspend the rights of the Grantors under paragraph
(a)(i) or paragraph (a)(iii) in part without suspending all such rights (as specified by the
Collateral Agent in its sole and absolute discretion) and without waiving or otherwise affecting
the Collateral Agent’s rights to give additional notices from time to time suspending other rights
so long as an Event of Default has occurred and is continuing.

 

 

ARTICLE IV

Security Interests in Personal Property

          SECTION 4.01. Security Interest. (a)  As security for the payment or performance, as the case
may be, in full of the Obligations, each Grantor hereby assigns and pledges to the Collateral
Agent, its successors and assigns, for the ratable benefit of the Secured Parties, and hereby
grants to the Collateral Agent, its successors and assigns, for the ratable benefit of the Secured
Parties, a security interest (the “Security Interest”), in all right, title or interest in or to
any and all of the following assets and properties now owned or at any time hereafter acquired by
such Grantor or in which such Grantor now has or at any time in the future may acquire any right,
title or interest (collectively, the “Article 9 Collateral”):

     (i) all Accounts;

     (ii) all Chattel Paper;

     (iii) all cash and Deposit Accounts;

     (iv) all Documents;

     (v) all Equipment;

     (vi) all Fixtures;

     (vii) all General Intangibles;

     (viii) all Instruments;

     (ix) all Inventory;

     (x) all Investment Property;

     (xi) all Letter-of-Credit Rights;

     (xii) all Commercial Tort Claims;

     (xiii) all books and records pertaining to the Article 9 Collateral; and

     (xiv) to the extent not otherwise included, all Proceeds and products of any
and all of the foregoing and all collateral security and guarantees given by any
person with respect to any of the foregoing;

provided, however, that the Article 9 Collateral shall not include, and in no event shall
the security interest granted under this Section 4.01 attach to (A) any lease, license,
contract, property rights or agreement to which any Grantor is a party (or to any of its rights or
interests thereunder) if the grant of such security interest would constitute or result in either
(x) the abandonment, invalidation or unenforceability of any right, title or

 

 

interest of any
Grantor therein or (y) in a breach or termination pursuant to the terms of, or a default under, any
such lease, license, contract, property rights or agreement (other than, in each case, to the
extent that any such term would be rendered ineffective pursuant to Sections 9-406,
9-407, 9-408 or 9-409 of the UCC, any provision of the Bankruptcy Code or
otherwise), (B) any Grantor’s directors and officers liability insurance policies, (C) any
application for registration of a trademark filed with the United States Patent and Trademark
Office on an intent-to-use basis until such time (if any) as a statement of use or amendment to
allege use is filed, at which time such trademark shall automatically become part of the Collateral
and subject to the security interest pledged or (D) the Vault Cash Amounts, in an aggregate
principal amount not to exceed $1,097,341.95 under the Vault Cash Agreement in effect on the
Closing Date.

          (b) Each Grantor hereby irrevocably authorizes the Collateral Agent at any time and from time
to time to file in any relevant jurisdiction any initial financing statements (including fixture
filings) with respect to the Article 9 Collateral or any part thereof and amendments thereto that
(i) indicate the Article 9 Collateral as “all assets” of such Grantor or words of similar effect,
and (ii) contain the information required by Article 9 of the Uniform Commercial Code of each
applicable jurisdiction for the filing of any financing statement or amendment, including (A)
whether such Grantor is an organization, the type of organization and any organizational
identification number issued to such Grantor and (B) in the case of a financing statement filed as
a fixture filing, a sufficient description of the real property to which such Article 9 Collateral
relates. Each Grantor agrees to provide such information to the Collateral Agent promptly upon
request.

          Each Grantor also ratifies its authorization for the Collateral Agent to file in any relevant
jurisdiction any initial financing statements or amendments thereto if filed prior to the date
hereof.

          The Collateral Agent is further authorized to file with the United States Patent and Trademark
Office or United States Copyright Office (or any successor office or any similar office in any
other country) such documents as may be necessary or advisable for the purpose of perfecting,
confirming, continuing, enforcing or protecting the Security Interest granted by each Grantor,
without the signature of any Grantor, and naming any Grantor or the Grantors as debtors and the
Collateral Agent as secured party.

          (c) The Security Interest is granted as security only and shall not subject the Collateral
Agent or any other Secured Party to, or in any way alter or modify, any obligation or liability of
any Grantor with respect to or arising out of the Article 9 Collateral.

          SECTION
4.02. Representations and Warranties. The Grantors jointly and severally represent
and warrant to the Collateral Agent and the Secured Parties that:

          (a) Each Grantor has good and valid rights in and title to the Article 9 Collateral
with respect to which it has purported to grant a Security Interest hereunder and has full
power and authority to grant to the Collateral Agent, for the ratable benefit of the
Secured Parties, the Security Interest in such Article 9

 

 

Collateral pursuant hereto and to
execute, deliver and perform its obligations in accordance with the terms of this
Agreement, without the consent or approval of any other person other than any consent or
approval that has been obtained.

          (b) The Perfection Certificate has been duly prepared, completed and executed and the
information set forth therein (including (x) the exact legal name of each Grantor and (y)
the jurisdiction of organization of each Grantor) is correct and complete as of the Closing
Date. Uniform Commercial Code financing statements (including fixture filings, as
applicable) or other appropriate filings, recordings or registrations containing a
description of the Article 9 Collateral have been prepared by the Collateral Agent based
upon the information provided to the Administrative Agent and the Secured Parties in the
Perfection Certificate for filing in each governmental, municipal or other office specified
in Section 2 of the Perfection Certificate (or specified by notice from the Issuer to the
Administrative Agent after the Closing Date in the case of filings, recordings or
registrations required by Sections 5.11 or 5.13 of the Securities Purchase Agreement),
which are all the filings, recordings and registrations (other than filings required to be
made in the United States Patent and Trademark Office and the United States Copyright
Office in order to perfect the Security Interest in the Article 9 Collateral consisting of
United States Patents, Trademarks and Copyrights) that are necessary to publish notice of
and protect the validity of and to establish a legal, valid and perfected security interest
in favor of the Collateral
Agent (for the ratable benefit of the Secured Parties) in respect of all Article 9
Collateral in which the Security Interest may be perfected by filing, recording or
registration in the United States (or any political subdivision thereof), and no further or
subsequent filing, refiling, recording, rerecording, registration or reregistration is
necessary in any such jurisdiction, except as provided under applicable law with respect to
the filing of continuation statements and as may be required with respect to after-acquired
United States Patents, Trademarks and Copyrights and as to unregistered Copyrights that
become registered after the date hereof. Each Grantor represents and warrants that a fully
executed agreement in the form hereof (or a fully executed short form agreement in form and
substance reasonably satisfactory to the Collateral Agent), and containing a description of
all Article 9 Collateral consisting of Intellectual Property with respect to United States
Patents and United States registered Trademarks (and Trademarks for which United States
registration applications are pending) and United States registered Copyrights has been
delivered to the Collateral Agent for recording by the United States Patent and Trademark
Office and the United States Copyright Office pursuant to 35 U.S.C. § 261, 15 U.S.C. § 1060
or 17 U.S.C. § 205 and the regulations thereunder, as applicable, and otherwise as may be
required pursuant to the laws of any other necessary jurisdiction, to protect the validity
of and to establish a legal, valid and perfected security interest in favor of the
Collateral Agent (for the ratable benefit of the Secured Parties) in respect of all
Article 9 Collateral consisting of Patents, Trademarks and Copyrights in which a security
interest may be perfected by filing, recording or registration in the United States (or any
political subdivision thereof), and no further or subsequent filing, refiling, recording,
rerecording, registration or reregistration is necessary (other than such

 

 

actions as are
necessary to perfect the Security Interest with respect to any Article 9 Collateral
consisting of Patents, Trademarks and Copyrights (or registration or application for
registration thereof) acquired or developed after the date hereof) and as to unregistered
Copyrights that become registered after the date hereof.

          (c) The Security Interest constitutes (i) a legal and valid security interest in all
Article 9 Collateral securing the payment and performance of the Obligations, (ii) subject
to the filings described in Section 4.02(b), a perfected security interest in all Article 9
Collateral in which a security interest may be perfected by filing, recording or
registering a financing statement or analogous document in the United States (or any
political subdivision thereof) pursuant to the Uniform Commercial Code or other applicable
law in such jurisdictions and (iii) a security interest that shall be perfected in all
Article 9 Collateral in which a security interest may be perfected upon the receipt and
recording of this Agreement with the United States Patent and Trademark Office and the
United States Copyright Office, as applicable. The Security Interest is and shall be prior
to any other Lien on any of the Article 9 Collateral, other than Liens expressly permitted
pursuant to Section 6.02 of the Securities Purchase Agreement that have priority as a
matter of law.

          (d) The Article 9 Collateral is owned by the Grantors free and clear of any Lien,
except for Liens expressly permitted pursuant to Section 6.02 of the Securities Purchase
Agreement. No Grantor has filed or consented to the filing of (i) any financing statement
or analogous document under the Uniform Commercial Code or any other applicable laws
covering any Article 9 Collateral, (ii) any assignment in which any Grantor assigns any
Collateral or any security agreement or similar instrument covering any Article 9
Collateral with the United States Patent and Trademark Office or the United States
Copyright Office, (iii) any notice under the Assignment of Claims Act, or (iv) any
assignment in which any Grantor assigns any Article 9 Collateral or any security agreement
or similar instrument covering any Article 9 Collateral with any foreign governmental,
municipal or other office, which financing statement or analogous document, assignment,
security agreement or similar instrument is still in effect, except, in each case, for
Liens expressly permitted pursuant to Section 6.02 of the Securities Purchase Agreement.
No Grantor holds any Commercial Tort Claims except as indicated on the Perfection
Certificate.

          SECTION 4.03. Covenants. (a) Each Grantor agrees promptly to notify the Collateral Agent in
writing of any change in (i) its legal name and/or address, (ii) its identity or type of
organization or corporate structure, (iii) its Federal Taxpayer Identification Number or
organizational identification number or (iv) its jurisdiction of organization. Each Grantor agrees
promptly to provide the Collateral Agent with certified copies of organizational documents
reflecting any of the changes described in the first sentence of this paragraph. Each Grantor
agrees not to effect or permit any change referred to in the preceding sentence unless all filings
have been made (or concurrently will be made) under the Uniform Commercial Code or otherwise that
are

 

 

required in order for the Collateral Agent to continue at all times following such change to
have a valid, legal and perfected first priority security interest in all the Article 9 Collateral.
Each Grantor agrees promptly to notify the Collateral Agent if any material portion of the
Article 9 Collateral owned or held by such Grantor is damaged or destroyed.

          (b) [Intentionally omitted]

          (c) Each Grantor shall, at its own expense, use commercially reasonable efforts to defend
title to the Article 9 Collateral against all persons and to defend the Security Interest of the
Collateral Agent in the Article 9 Collateral and the priority thereof against any Lien not
expressly permitted pursuant to Section 6.02 of the Securities Purchase Agreement.

          (d) Each Grantor agrees, at its own expense, promptly to execute, acknowledge, deliver and
cause to be duly filed all such further instruments and documents and take all such actions as the
Collateral Agent may from time to time reasonably request to better assure, obtain, preserve,
protect and perfect the Security Interest and the rights and remedies created hereby, including the
payment of any fees and Taxes required in connection with the execution and delivery of this
Agreement, the
granting of the Security Interest and the filing of any financing or continuation statements
(including fixture filings) or other documents in connection herewith or therewith. If any amount
payable to any Grantor under or in connection with any of the Article 9 Collateral shall be or
become evidenced by any promissory note or other instrument, such note or instrument shall be
promptly pledged and delivered to the Collateral Agent, duly endorsed in a manner satisfactory to
the Collateral Agent.

          Without limiting the generality of the foregoing, each Grantor hereby authorizes the
Collateral Agent, with prompt notice thereof to the Grantors made not more than once per calendar
year, to supplement this Agreement by supplementing Schedule III or adding additional schedules
hereto to identify specifically any asset or item of a Grantor that may, in the Collateral Agent’s
reasonable judgment, constitute Copyrights, Licenses, Patents or Trademarks that are the subject of
applications or registrations; provided that any Grantor shall have the right, exercisable within
10 days after it has been notified by the Collateral Agent of the specific identification of such
Collateral, to advise the Collateral Agent in writing of any inaccuracy of the representations and
warranties made by such Grantor hereunder with respect to such Collateral. Each Grantor agrees
that it will use its commercially reasonable efforts to take such action as shall be necessary in
order that all representations and warranties hereunder shall be true and correct with respect to
such Collateral within 30 days after the date it has been notified by the Collateral Agent of the
specific identification of such Collateral.

          (e) The Collateral Agent and such persons as the Collateral Agent may designate shall have the
right, upon reasonable notice, at the applicable Grantor’s own cost and expense, to inspect the
Article 9 Collateral, all records related thereto (and to make extracts and copies from such
records) and the premises upon which any of the Article 9

 

 

Collateral is located, to discuss the
applicable Grantor’s affairs with the officers of such Grantor and its independent accountants and
to verify, under reasonable procedures, the existence, validity, amount, quality, quantity, value,
condition and status of, or any other matter relating to, the Article 9 Collateral, including, in
the case of Accounts or other Article 9 Collateral in the possession of any third person, by (but
only after the occurrence and during the continuance of an Event of Default) contacting Account
Debtors or the third person possessing such Article 9 Collateral for the purpose of making such a
verification. The Collateral Agent shall have the absolute right, subject to Section 10.16 of the
Securities Purchase Agreement, to share any information it gains from such inspection or
verification with any Secured Party. Unless an Event of Default has occurred and is continuing,
Collateral Agent shall coordinate and conduct such inspections so as to occur concurrently with
inspections being conducted by the Administrative Agent pursuant to Section 5.06 of the Securities
Purchase Agreement.

          (f) Upon the occurrence and during the continuance of an Event of Default, at its option, the
Collateral Agent may discharge past due Taxes, assessments, charges, fees, Liens, security
interests or other encumbrances at any time levied or placed on the Article 9
Collateral and not
expressly permitted pursuant to Section 5.03 or Section 6.02 of the Securities Purchase Agreement,
and may pay for the maintenance and preservation of the Article 9 Collateral to the extent any
Grantor fails to do so as expressly required by the
Securities Purchase Agreement or this Agreement, and each Grantor jointly and severally agrees
to reimburse the Collateral Agent on demand for any payment made or any expense incurred by the
Collateral Agent pursuant to the foregoing authorization; provided, however, that nothing in this
paragraph shall be interpreted as excusing any Grantor from the performance of, or imposing any
obligation on the Collateral Agent or any Secured Party to cure or perform, any covenants or other
promises of any Grantor with respect to Taxes, assessments, charges, fees, Liens, security
interests or other encumbrances and maintenance as set forth herein or in the other Transaction
Documents.

          (g) If at any time any Grantor shall take a security interest in any property of an Account
Debtor or any other person to secure payment and performance of an Account, such Grantor shall
promptly notify the Collateral Agent of such security interest and, upon the reasonable request of
the Collateral Agent, shall promptly assign such security interest to the Collateral Agent for the
ratable benefit of the Secured Parties. Such assignment need not be filed of public record unless
necessary to continue the perfected status of the security interest against creditors of and
transferees from the Account Debtor or other person granting the security interest.

          (h) Each Grantor shall remain liable to observe and perform all the conditions and obligations
to be observed and performed by it under each contract, agreement or instrument relating to the
Article 9 Collateral, all in accordance with the terms and conditions thereof, and each Grantor
jointly and severally agrees to indemnify and hold harmless the Collateral Agent and the Secured
Parties from and against any and all liability for such performance.

          (i) No Grantor shall make or permit to be made an assignment, pledge or hypothecation of the
Article 9 Collateral or shall grant any other Lien in respect of the

 

 

Article 9 Collateral or permit
any notice to be filed under the Assignment of Claims Act, except, in each case, as expressly
permitted by Section 6.02 of the Securities Purchase Agreement. No Grantor shall make or permit to
be made any transfer of the Article 9 Collateral and each Grantor shall remain at all times in
possession or otherwise in control of the Article 9 Collateral owned by it, except as permitted by
the Securities Purchase Agreement.

          (j) Except as permitted by the Securities Purchase Agreement, no Grantor will, without the
Collateral Agent’s prior written consent, grant any extension of the time for payment of any
Accounts included in the Article 9 Collateral, compromise, compound or settle the same for less
than the full amount thereof, release, wholly or partly, any person liable for the payment thereof
or allow any credit or discount whatsoever thereon, other than extensions, credits, discounts,
compromises, compoundings or settlements granted or made in the ordinary course of business and
consistent with its current practices and in accordance with such prudent and standard practice
used in industries that are the same as or similar to those in which such Grantor is engaged.

          (k) Each Grantor, at its own expense, shall maintain or cause to be maintained insurance
covering physical loss or damage to the Inventory and Equipment in accordance with the requirements
set forth in Section 5.02 of the Securities Purchase
Agreement. Each Grantor irrevocably makes, constitutes and appoints the Collateral Agent (and
all officers, employees or agents designated by the Collateral Agent) as such Grantor’s true and
lawful agent (and attorney-in-fact) for the purpose, upon the occurrence and during the continuance
of an Event of Default, of reasonably making, settling and adjusting claims in respect of Article 9
Collateral under policies of insurance, endorsing the name of such Grantor on any check, draft,
instrument or other item of payment for the proceeds of such policies of insurance and for making
all determinations and decisions with respect thereto. In the event that any Grantor at any time
or times shall fail to obtain or maintain any of the policies of insurance required hereby or under
the Securities Purchase Agreement or to pay any premium in whole or part relating thereto, the
Collateral Agent may, without waiving or releasing any obligation or liability of any Grantor
hereunder or any Default or Event of Default, in its sole discretion, obtain and maintain such
policies of insurance and pay such premium and take any other actions with respect thereto as the
Collateral Agent deems advisable. All sums disbursed by the Collateral Agent in connection with
this paragraph, including reasonable attorneys’ fees, court costs, expenses and other charges
relating thereto, shall be payable, upon demand, by the Grantors to the Collateral Agent and shall
be additional Obligations secured hereby.

          (l) Each Grantor shall maintain, in form and manner reasonably satisfactory to the Collateral
Agent, records of its Chattel Paper and its books, records and documents evidencing or pertaining
thereto.

          SECTION
4.04. Other Actions. In order to further ensure the attachment, perfection and
priority of, and the ability of the Collateral Agent to enforce, the Security Interest in the
Article 9 Collateral, each Grantor agrees, in each case at such Grantor’s own expense, to take the
following actions with respect to the following Article 9 Collateral:

 

 

          (a) Instruments. If any Grantor shall at any time hold or acquire any Instruments,
such Grantor shall forthwith endorse, assign and deliver the same to the Collateral Agent,
accompanied by such undated instruments of endorsement, transfer or assignment duly
executed in blank as the Collateral Agent may from time to time reasonably specify;
provided that, so long as no Event of Default shall have occurred and be continuing, the
Collateral Agent shall, promptly upon request of such Grantor, make appropriate
arrangements for making any promissory notes pledged by such Grantor available to such
Grantor for purposes of prosecution, collection or renewal.

          (b) Deposit Accounts. For each Deposit Account that any Grantor at any time opens or
maintains, such Grantor shall, upon the Collateral Agent’s request, cause the depositary
bank to agree to comply at any time with instructions from the Collateral Agent to such
depositary bank directing the disposition of funds from time to time credited to such
Deposit Account, without further consent of such Grantor or any other person, pursuant to
an agreement in form and substance satisfactory to the Collateral Agent. The Collateral
Agent agrees with each Grantor that the Collateral Agent shall not give any such
instructions or withhold any withdrawal rights from any Grantor, unless an Event of
Default has occurred and is continuing. The provisions of this paragraph shall not apply
to any Deposit Account (i) for which any Grantor, the depositary bank and the Collateral
Agent have entered into a cash collateral agreement specially negotiated among such
Grantor, the depositary bank and the Collateral Agent for the specific purpose set forth
therein, or (ii) which is a zero balance or payroll account.

          (c) Investment Property. Except to the extent otherwise provided in Article III, if
any Grantor shall at any time hold or acquire any certificated securities, such Grantor
shall forthwith endorse, assign and deliver the same to the Collateral Agent, accompanied
by such undated instruments of transfer or assignment duly executed in blank as the
Collateral Agent may from time to time reasonably specify. If any securities now or
hereafter acquired by any Grantor are uncertificated and are issued to such Grantor or its
nominee directly by the issuer thereof, such Grantor shall promptly notify the Collateral
Agent thereof and, at the Collateral Agent’s request, pursuant to an agreement in form and
substance reasonably satisfactory to the Collateral Agent, cause the issuer to agree to
comply with instructions from the Collateral Agent as to such securities, without further
consent of any Grantor or such nominee. If any securities, whether certificated or
uncertificated, or other Investment Property now or hereafter acquired by any Grantor are
held by such Grantor or its nominee through a Securities Intermediary or Commodity
Intermediary, such Grantor shall promptly notify the Collateral Agent thereof and, at the
Collateral Agent’s request, pursuant to an agreement in form and substance reasonably
satisfactory to the Collateral Agent cause such Securities Intermediary or Commodity
Intermediary, as the case may be, to agree to comply with Entitlement Orders from the
Collateral Agent to such Securities Intermediary as to such securities or other Investment
Property, or (as the case may be) to apply any value distributed on account of any
commodity

 

 

contract as directed by the Collateral Agent to such Commodity Intermediary, in
each case without further consent of any Grantor or such nominee. The Collateral Agent
agrees with each Grantor that the Collateral Agent shall not give any such Entitlement
Orders or instructions or directions to any such issuer, Securities Intermediary or
Commodity Intermediary, and shall not withhold its consent to the exercise of any
withdrawal or dealing rights by any Grantor, unless an Event of Default has occurred and is
continuing.

          (d) Electronic Chattel Paper and Transferable Records. If any Grantor at any time
holds or acquires an interest in any Electronic Chattel Paper or any “transferable record”,
as that term is defined in Section 201 of the Federal Electronic Signatures in Global and
National Commerce Act, or in Section 16 of the Uniform Electronic Transactions Act as in
effect in any relevant jurisdiction, such Grantor shall promptly notify the Collateral
Agent thereof and, at the request of the Collateral Agent, shall take such action as the
Collateral Agent may reasonably request to vest in the Collateral Agent control under
New York UCC Section 9-105 of such Electronic Chattel Paper or control under Section 201 of
the Federal Electronic Signatures in Global and National Commerce Act or, as the
case may be, Section 16 of the Uniform Electronic Transactions Act, as so in effect in
such jurisdiction, of such transferable record. The Collateral Agent agrees with such
Grantor that the Collateral Agent will arrange, pursuant to procedures satisfactory to the
Collateral Agent and so long as such procedures will not result in the Collateral Agent’s
loss of control, for the Grantor to make alterations to the Electronic Chattel Paper or
transferable record permitted under UCC Section 9-105 or, as the case may be, Section 201
of the Federal Electronic Signatures in Global and National Commerce Act or Section 16 of
the Uniform Electronic Transactions Act for a party in control to allow without loss of
control, unless an Event of Default has occurred and is continuing or would occur after
taking into account any action by such Grantor with respect to such Electronic Chattel
Paper or transferable record.

          (e) Letter-of-Credit Rights. If any Grantor is at any time a beneficiary under a
letter of credit now or hereafter issued in favor of such Grantor, such Grantor shall
promptly notify the Collateral Agent thereof and, at the request and option of the
Collateral Agent, such Grantor shall, pursuant to an agreement in form and substance
satisfactory to the Collateral Agent, either (i) use commercially reasonable efforts to
arrange for the issuer and any confirmer of such letter of credit to consent to an
assignment to the Collateral Agent of the proceeds of any drawing under the letter of
credit or (ii) arrange for the Collateral Agent to become the transferee beneficiary of the
letter of credit, with the Collateral Agent agreeing, in each case, that the proceeds of
any drawing under the letter of credit are to be paid to the applicable Grantor unless an
Event of Default has occurred or is continuing.

          (f) Commercial Tort Claims. If any Grantor shall at any time hold or acquire a
Commercial Tort Claim in an amount reasonably estimated to exceed $50,000, the Grantor
shall promptly notify the Collateral Agent thereof in a

 

 

writing signed by such Grantor
including a summary description of such claim and grant to the Collateral Agent, for the
ratable benefit of the Secured Parties, in such writing a security interest therein and in
the proceeds thereof, all upon the terms of this Agreement, with such writing to be in form
and substance satisfactory to the Collateral Agent.

          SECTION
4.05. Covenants Regarding Patent, Trademark and Copyright Collateral. (a) Each
Grantor agrees that it will not, and will not permit any of its licensees to, do any act, or omit
to do any act, whereby any Patent that is material to the conduct of such Grantor’s business may
become invalidated or dedicated to the public, and agrees that it shall use commercially reasonable
efforts to mark any products covered by a Patent with the relevant patent number as necessary and
sufficient to establish and preserve its maximum rights under applicable patent laws.

          (b) Each Grantor (either itself or through its licensees or its sublicensees) will, for each
Trademark material to the conduct of such Grantor’s business, (i) maintain
such Trademark in full force free from any claim of abandonment or invalidity for non-use,
(ii) maintain the quality of products and services offered under such Trademark, (iii) display such
Trademark with notice of Federal or foreign registration to the extent necessary and sufficient to
establish and preserve its maximum rights under applicable law and (iv) not knowingly use or
knowingly permit the use of such Trademark in violation of any third party rights.

          (c) Each Grantor (either itself or through its licensees or sublicensees) will, for each work
covered by a material Copyright, continue to publish, reproduce, display, adopt and distribute the
work with appropriate copyright notice as necessary and sufficient to establish and preserve its
maximum rights under applicable copyright laws.

          (d) Each Grantor shall notify the Collateral Agent promptly if it knows or has reason to know
that any Patent, Trademark or Copyright material to the conduct of its business may become
abandoned, lost or dedicated to the public, or of any adverse determination or development
(including the institution of, or any such determination or development in, any proceeding in the
United States Patent and Trademark Office, United States Copyright Office or any court or similar
office of any country) regarding such Grantor’s ownership of any Patent, Trademark or Copyright,
its right to register the same, or its right to keep and maintain the same (other than non-final
office action in the course of prosecution).

          (e) In no event shall any Grantor, either itself or through any agent, employee, licensee or
designee, file an application for any Patent, Trademark or Copyright (or for the registration of
any Trademark or Copyright) with the United States Patent and Trademark Office, United States
Copyright Office or any office or agency in any political subdivision of the United States or in
any other country or any political subdivision thereof, unless it promptly notifies the Collateral
Agent (which notice may be given after such filing), and, upon request of the Collateral Agent,
executes and delivers any and all agreements, instruments, documents and papers as the Collateral
Agent may reasonably request to evidence the Security Interest in such Patent, Trademark or
Copyright, and each

 

 

Grantor hereby appoints the Collateral Agent as its attorney-in-fact to execute
and file such writings for the foregoing purposes, all acts of such attorney being hereby ratified
and confirmed; such power, being coupled with an interest, is irrevocable until the termination or
release, pursuant to Section 7.16 hereof, of the Lien created hereunder.

          (f) Each Grantor will take all reasonably necessary steps that are consistent with the
practice in any proceeding before the United States Patent and Trademark Office, United States
Copyright Office or any office or agency in any political subdivision of the United States or in
any other country or any political subdivision thereof, to maintain and pursue each material
application relating to the Patents, Trademarks and/or Copyrights (and to obtain the relevant grant
or registration) and to maintain each issued Patent and each registration of the Trademarks and
Copyrights that is material to the conduct of any Grantor’s business, including timely filings of
applications for renewal, affidavits of use, affidavits of incontestability and payment of
maintenance fees, and, if consistent with good business judgment, to initiate opposition,
interference and cancellation proceedings against third parties.

          (g) In the event that any Grantor knows or has reason to believe that any Article 9 Collateral
consisting of a Patent, Trademark or Copyright material to the conduct of any Grantor’s business
has been or is about to be infringed, misappropriated or diluted by a third person in a material
respect, such Grantor promptly shall notify the Collateral Agent and shall, if desirable in such
Grantor’s business judgment, promptly sue for infringement, misappropriation or dilution and to
recover any and all damages for such infringement, misappropriation or dilution, and take such
other actions as are appropriate under the circumstances to protect such Article 9 Collateral.

          (h) Upon the occurrence and during the continuance of an Event of Default, each Grantor shall
use its reasonable best efforts to obtain all requisite consents or approvals by the licensor of
each Copyright License, Patent License or Trademark License, and each other material License, to
effect the assignment of all such Grantor’s right, title and interest thereunder to the Collateral
Agent, for the ratable benefit of the Secured Parties, or its designee.

ARTICLE V

Remedies

     SECTION 5.01. Remedies Upon Default. Upon the occurrence and during the continuance of an
Event of Default, each Grantor agrees to deliver each item of Collateral to the Collateral Agent on
demand, and it is agreed that the Collateral Agent shall have the right to take any of or all the
following actions at the same or different times: (a) with respect to any Article 9 Collateral
consisting of Intellectual Property, on demand, to cause the Security Interest to become an
assignment, transfer and conveyance of any of or all such Article 9 Collateral by the applicable
Grantor to the Collateral Agent, or to license or sublicense, whether general, special or
otherwise, and whether on an exclusive or nonexclusive basis, any such Article 9 Collateral
throughout the world on

 

 

such terms and conditions and in such manner as the Collateral Agent shall
reasonably determine (other than in violation of any then-existing licensing arrangements to the
extent that waivers cannot be obtained), and (b) with or without legal process and with or without
prior notice or demand for performance, to take possession of the Article 9 Collateral and without
liability for trespass to enter any premises where the Article 9 Collateral may be located for the
purpose of taking possession of or removing the Article 9 Collateral and, generally, to exercise
any and all rights afforded to a secured party under the Uniform Commercial Code or other
applicable law. Without limiting the generality of the foregoing, each Grantor agrees that the
Collateral Agent shall have the right, subject to the mandatory requirements of applicable law, to
sell or otherwise dispose of all or any part of the Collateral at a public or private sale or at
any broker’s board or on any securities exchange, for cash, upon credit or for future delivery as
the Collateral Agent shall deem appropriate. The Collateral Agent shall be authorized at any such
sale (if it deems it advisable to do so) to restrict the prospective bidders or purchasers to
persons who will represent and agree that they are purchasing the Collateral for their own account
for
investment and not with a view to the distribution or sale thereof, and upon consummation of
any such sale the Collateral Agent shall have the right to assign, transfer and deliver to the
purchaser or purchasers thereof the Collateral so sold. Each such purchaser at any such sale shall
hold the property sold absolutely, free from any claim or right on the part of any Grantor, and
each Grantor hereby waives (to the extent permitted by law) all rights of redemption, stay and
appraisal which such Grantor now has or may at any time in the future have under any rule of law or
statute now existing or hereafter enacted.

          The Collateral Agent shall give each applicable Grantor 10 days’ written notice (which each
Grantor agrees is reasonable notice within the meaning of Section 9-611 of the New York UCC or its
equivalent in other jurisdictions) of the Collateral Agent’s intention to make any sale of
Collateral. Such notice, in the case of a public sale, shall state the time and place for such
sale and, in the case of a sale at a broker’s board or on a securities exchange, shall state the
board or exchange at which such sale is to be made and the day on which the Collateral, or portion
thereof, will first be offered for sale at such board or exchange. Any such public sale shall be
held at such time or times within ordinary business hours and at such place or places as the
Collateral Agent may fix and state in the notice (if any) of such sale. At any such sale, the
Collateral, or portion thereof, to be sold may be sold in one lot as an entirety or in separate
parcels, as the Collateral Agent may (in its sole and absolute discretion) determine. The
Collateral Agent shall not be obligated to make any sale of any Collateral if it shall determine
not to do so, regardless of the fact that notice of sale of such Collateral shall have been given.
The Collateral Agent may, without notice or publication, adjourn any public or private sale or
cause the same to be adjourned from time to time by announcement at the time and place fixed for
sale, and such sale may, without further notice, be made at the time and place to which the same
was so adjourned. In case any sale of all or any part of the Collateral is made on credit or for
future delivery, the Collateral so sold may be retained by the Collateral Agent until the sale
price is paid by the purchaser or purchasers thereof, but the Collateral Agent shall not incur any
liability in case any such purchaser or purchasers shall fail to take up and pay for the Collateral
so sold and, in case of any such failure, such Collateral may be sold

 

 

again upon like notice. At
any public (or, to the extent permitted by law, private) sale made pursuant to this Agreement, any
Secured Party may bid for or purchase, free (to the extent permitted by applicable law) from any
right of redemption, stay, valuation or appraisal on the part of any Grantor (all said rights being
also hereby waived and released to the extent permitted by applicable law), the Collateral or any
part thereof offered for sale and may make payment on account thereof by using any claim then due
and payable to such Secured Party from any Grantor as a credit against the purchase price, and such
Secured Party may, upon compliance with the terms of sale, hold, retain and dispose of such
property without further accountability to any Grantor therefor. For purposes hereof, a written
agreement to purchase the Collateral or any portion thereof shall be treated as a sale thereof; the
Collateral Agent shall be free to carry out such sale pursuant to such agreement and no Grantor
shall be entitled to the return of the Collateral or any portion thereof subject thereto,
notwithstanding the fact that after the Collateral Agent shall have entered into such an agreement
all Events of Default shall have been remedied and the Obligations paid in full. As an alternative
to exercising the power of sale herein
conferred upon it, the Collateral Agent may proceed by a suit or suits at law or in equity to
foreclose this Agreement and to sell the Collateral or any portion thereof pursuant to a judgment
or decree of a court or courts having competent jurisdiction or pursuant to a proceeding by a
court-appointed receiver. Any sale pursuant to the provisions of this Section 5.01 shall be deemed
to conform to the commercially reasonable standards as provided in Section 9-610(b) of the New York
UCC or its equivalent in other jurisdictions.

          SECTION
5.02. Application of Proceeds. The Collateral Agent shall apply the proceeds of any
collection, sale, foreclosure or other realization upon any Collateral, including any Collateral
consisting of cash, as follows:

     FIRST, to the payment of all costs and expenses incurred by the Administrative Agent
or the Collateral Agent (in their respective capacities as such hereunder or under any
other Transaction Document) in connection with such collection, sale, foreclosure or
realization or otherwise in connection with this Agreement, any other Transaction Document
or any of the Obligations, including all court costs and the fees and expenses of its
agents and legal counsel, the repayment of all advances made by the Administrative Agent
and/or the Collateral Agent hereunder or under any other Transaction Document on behalf of
any Grantor and any other costs or expenses incurred in connection with the exercise of any
right or remedy hereunder or under any other Transaction Document;

     SECOND, to the payment in full of all other Obligations (the amounts so applied to be
distributed among the Secured Parties pro rata in accordance with the amounts of the
Obligations owed to them on the date of any such distribution);

     THIRD, to the Grantors, their successors or assigns, or as a court of competent
jurisdiction may otherwise direct.

 

 

The Collateral Agent shall have absolute discretion as to the time of application of any such
proceeds, moneys or balances in accordance with this Agreement. Upon any sale of Collateral by the
Collateral Agent (including pursuant to a power of sale granted by statute or under a judicial
proceeding), the receipt of the Collateral Agent or of the officer making the sale shall be a
sufficient discharge to the purchaser or purchasers of the Collateral so sold and such purchaser or
purchasers shall not be obligated to see to the application of any part of the purchase money paid
over to the Collateral Agent or such officer or be answerable in any way for the misapplication
thereof.

          SECTION 5.03. Grant of License to Use Intellectual Property. For the purpose of enabling the
Collateral Agent to exercise rights and remedies under this Agreement at such time as the
Collateral Agent shall be lawfully entitled to exercise such rights and remedies, each Grantor
hereby grants to the Collateral Agent an irrevocable, nonexclusive license (exercisable without
payment of royalty or
other compensation to the Grantors), to use, license or sublicense any of the Article 9
Collateral consisting of Intellectual Property now owned or hereafter acquired by such Grantor, and
wherever the same may be located, and including in such license access to all media in which any of
the licensed items may be recorded or stored and to all computer software and programs used for the
compilation or printout thereof, subject, in the case of Trademarks, to the observance of standards
of quality and inspection in connection with the use of such Trademarks as are sufficient to
maintain the validity and enforceability of such Trademarks. The use of such license by the
Collateral Agent may be exercised, at the option of the Collateral Agent, only upon the occurrence
and during the continuation of an Event of Default; provided, however, that any license, sublicense
or other transaction entered into by the Collateral Agent in accordance herewith shall be binding
upon each Grantor notwithstanding any subsequent cure of an Event of Default.

     SECTION 5.04. Securities Act, Etc. In view of the position of the Grantors in relation to the
Pledged Collateral, or because of other current or future circumstances, a question may arise under
the U.S. Securities Act of 1933, as now or hereafter in effect, or any similar statute hereafter
enacted analogous in purpose or effect (such Act and any such similar statute as from time to time
in effect being called the “Federal Securities Laws”) with respect to any disposition of the
Pledged Collateral permitted hereunder. Each Grantor understands that compliance with the Federal
Securities Laws might very strictly limit the course of conduct of the Collateral Agent if the
Collateral Agent were to attempt to dispose of all or any part of the Pledged Collateral, and might
also limit the extent to which or the manner in which any subsequent transferee of any Pledged
Collateral could dispose of the same. Similarly, there may be other legal restrictions or
limitations affecting the Collateral Agent in any attempt to dispose of all or part of the Pledged
Collateral under applicable “blue sky” or other state securities laws or similar laws analogous in
purpose or effect. Each Grantor recognizes that in light of such restrictions and limitations the
Collateral Agent shall, with respect to any sale of the Pledged Collateral, limit the purchasers to
those who will agree, among other things, to acquire such Pledged Collateral for their own account,
for investment, and not with a view to the distribution or resale thereof. Each Grantor
acknowledges and agrees that in light of such restrictions and limitations, the Collateral Agent,
in its sole and absolute discretion (a) may proceed to make such a sale whether or

 

 

not a
registration statement for the purpose of registering such Pledged Collateral or part thereof shall
have been filed under the Federal Securities Laws and (b) may approach and negotiate with a limited
number of potential purchasers (including a single potential purchaser) to effect such sale. Each
Grantor acknowledges and agrees that any such sale might result in prices and other terms less
favorable to the seller than if such sale were a public sale without such restrictions. In the
event of any such sale, the Collateral Agent shall incur no responsibility or liability for selling
all or any part of the Pledged Collateral at a price that the Collateral Agent, in its sole and
absolute discretion, may in good faith deem reasonable under the circumstances, notwithstanding the
possibility that a substantially higher price might have been realized if the sale were deferred
until after registration as aforesaid or if more than a limited number of purchasers (or a single
purchaser) were approached. The provisions of this Section 5.04 will apply notwithstanding the
existence of a public or private market upon which the
quotations or sales prices may exceed substantially the price at which the Collateral Agent
sells.

ARTICLE VI

Indemnity, Subrogation and Subordination

          SECTION 6.01. Indemnity and Subrogation. In addition to all such rights of indemnity and
subrogation as the Subsidiary Guarantors may have under applicable law (but subject to Section
6.03), the Issuer agrees that (a) in the event a payment shall be made by any Subsidiary Guarantor
under this Agreement, the Issuer shall indemnify such Subsidiary Guarantor for the full amount of
such payment and such Subsidiary Guarantor shall be subrogated to the rights of the person to whom
such payment shall have been made to the extent of such payment and (b) in the event any assets of
any Subsidiary Guarantor shall be sold pursuant to this Agreement or any other Security Document to
satisfy in whole or in part a claim of any Secured Party, the Issuer shall indemnify such
Subsidiary Guarantor in an amount equal to the greater of the book value or the fair market value
of the assets so sold.

          SECTION 6.02. Contribution and Subrogation. Each Subsidiary Guarantor (a “Contributing
Subsidiary Guarantor”) agrees (subject to Section 6.03) that, in the event a payment shall be made
by any other Subsidiary Guarantor hereunder in respect of any Obligation, or assets of any other
Subsidiary Guarantor shall be sold pursuant to any Security Document to satisfy any Obligation owed
to any Secured Party, and such other Subsidiary Guarantor (the “Claiming Subsidiary Guarantor”)
shall not have been fully indemnified by the Issuer as provided in Section 6.01, the Contributing
Subsidiary Guarantor shall indemnify the Claiming Subsidiary Guarantor in an amount equal to
(i) the amount of such payment or (ii) the greater of the book value or the fair market value of
such assets, as the case may be, in each case multiplied by a fraction of which the numerator shall
be the net worth of the Contributing Subsidiary Guarantor on the date hereof and the denominator
shall be the aggregate net worth of all the Subsidiary Guarantors on the date hereof (or, in the
case of any Subsidiary Guarantor becoming a party hereto pursuant to Section 7.16, the date of the
supplement hereto executed and delivered by such Subsidiary Guarantor). Any Contributing
Subsidiary Guarantor

 

 

making any payment to a Claiming Subsidiary Guarantor pursuant to this
Section 6.02 shall be subrogated to the rights of such Claiming Subsidiary Guarantor under
Section 6.01 to the extent of such payment.

          SECTION 6.03. Subordination. (a) Notwithstanding any provision of this Agreement to the
contrary, all rights of the Subsidiary Guarantors under Sections 6.01 and 6.02 and all other rights
of indemnity, contribution or subrogation under applicable law or otherwise shall be fully
subordinated to the indefeasible payment in full of the Obligations. No failure on the part of the
Issuer or any Subsidiary Guarantor to make the payments required by
Sections 6.01 and 6.02 (or any other payments required under applicable law or otherwise)
shall in any respect limit the obligations and liabilities of any Subsidiary Guarantor with respect
to its obligations hereunder, and each Subsidiary Guarantor shall remain liable for the full amount
of its obligations hereunder.

          (b) The Issuer and each Subsidiary Guarantor hereby agree that all Indebtedness and other
monetary obligations owed by it to the Issuer or any Subsidiary shall be fully subordinated to the
indefeasible payment in full of the Obligations.

ARTICLE VII

Miscellaneous

          SECTION 7.01. Notices. All communications and notices hereunder shall (except as otherwise
expressly permitted herein) be in writing and given as provided in Section 10.01 of the Securities
Purchase Agreement. All communications and notices hereunder to any Subsidiary Guarantor shall be
given to it in care of the Issuer as provided in Section 10.01 of the Securities Purchase
Agreement.

          SECTION 7.02. Security Interest Absolute. All rights of the Collateral Agent hereunder, the
Security Interest, the grant of a security interest in the Pledged Collateral and all obligations
of each Grantor hereunder shall be absolute and unconditional irrespective of (a) any lack of
validity or enforceability of the Securities Purchase Agreement, any other Transaction Document,
any agreement with respect to any of the Obligations or any other agreement or instrument relating
to any of the foregoing, (b) any change in the time, manner or place of payment of, or in any other
term of, all or any of the Obligations, or any other amendment or waiver of or any consent to any
departure from the Securities Purchase Agreement, any other Transaction Document or any other
agreement or instrument relating to the foregoing, (c) any exchange, release or non-perfection of
any Lien on other collateral, or any release or amendment or waiver of or consent under or
departure from any guarantee, securing or guaranteeing all or any of the Obligations, or (d) any
other circumstance that might otherwise constitute a defense available to, or a discharge of, any
Grantor in respect of the Obligations or this Agreement.

 

 

          SECTION 7.03. Survival of Agreement. All covenants, agreements, representations and
warranties made by the Loan Parties in the Transaction Documents and in the certificates or other
instruments prepared or delivered in connection with or pursuant to this Agreement or any other
Transaction Document shall be considered to have been relied upon by the Purchasers and shall
survive the execution and delivery of the Transaction Documents and the purchase of any Notes,
regardless of any investigation made by any Purchaser or on its behalf and notwithstanding that the
Collateral Agent or any Purchaser may have had
notice or knowledge of any Default or incorrect representation or warranty at the time any
Note is purchased under the Securities Purchase Agreement, and shall continue in full force and
effect as long as the principal of or any accrued interest on any Note or any fee or any other
amount payable under any Transaction Document is outstanding and unpaid.

          SECTION 7.04. Limitation by Law. All rights, remedies and powers provided in this Agreement
may be exercised only to the extent that the exercise thereof does not violate any applicable
provision of law, and all the provisions of this Agreement are intended to be subject to all
mandatory provisions of law that may be controlling and to be limited to the extent necessary so
that they shall not render this Agreement invalid, unenforceable, in whole or in part, or not
entitled to be recorded, registered or filed under the provisions of any applicable law.

          SECTION 7.05. Binding Effect; Several Agreement. This Agreement shall become effective as to
any Loan Party when a counterpart hereof executed on behalf of such Loan Party shall have been
delivered to the Collateral Agent and a counterpart hereof shall have been executed on behalf of
the Collateral Agent, and thereafter shall be binding upon such Loan Party and the Collateral Agent
and their respective permitted successors and assigns, and shall inure to the benefit of such Loan
Party, the Collateral Agent and the other Secured Parties and their respective successors and
assigns, except that no Loan Party shall have the right to assign or transfer its rights or
obligations hereunder or any interest herein or in the Collateral (and any such assignment or
transfer shall be void) except as expressly contemplated or permitted by this Agreement or the
Securities Purchase Agreement. This Agreement shall be construed as a separate agreement with
respect to each Loan Party and may be amended, modified, supplemented, waived or released with
respect to any Loan Party without the approval of any other Loan Party and without affecting the
obligations of any other Loan Party hereunder.

          SECTION 7.06. Successors and Assigns. Whenever in this Agreement any of the parties hereto is
referred to, such reference shall be deemed to include the permitted successors and assigns of such
party; and all covenants, promises and agreements by or on behalf of any Grantor or the Collateral
Agent that are contained in this Agreement shall bind and inure to the benefit of their respective
successors and assigns.

          SECTION 7.07. Collateral Agent’s Fees and Expenses; Indemnification. (a) The parties hereto
agree that the Collateral Agent shall be entitled

 

 

to reimbursement of its expenses incurred
hereunder as provided in Section 10.05 of the Securities Purchase Agreement.

          (b) Without limitation of its indemnification obligations under the other Transaction
Documents, each Grantor jointly and severally agrees to indemnify the Collateral Agent and the
other Indemnitees against, and hold each Indemnitee harmless from, any and all losses, claims,
damages, liabilities, and related out of pocket expenses, including the reasonable fees, charges
and disbursements of any counsel for any Indemnitee, incurred by or asserted against any Indemnitee
arising out of, in any way connected with, or as a result of, the execution, delivery or
performance of this Agreement or any agreement or instrument contemplated hereby or any claim,
litigation, investigation or proceeding relating to any of the foregoing or to the Collateral,
regardless of whether any Indemnitee is a party thereto or whether initiated by a third party or by
a Loan Party or any Affiliate thereof; provided, however, that such indemnity shall not, as to any
Indemnitee, be available to the extent that such losses, claims, damages, liabilities or related
expenses are determined by a court of competent jurisdiction by final and nonappealable judgment to
have resulted from the gross negligence or willful misconduct of such Indemnitee. To the extent
permitted by applicable law, no Grantor shall assert, and each Grantor hereby waives any claim
against any Indemnitee, on any theory of liability, for special, indirect, consequential or
punitive damages (as opposed to direct or actual damages) arising out of, in connection with, or as
a result of, this Agreement or any agreement or instrument contemplated hereby, the Transactions or
any Notes or the use of proceeds thereof.

          (c) Any such amounts payable as provided hereunder shall be additional Obligations secured
hereby and by the other Security Documents. The provisions of this Section 7.06 shall remain
operative and in full force and effect regardless of the termination of this Agreement or any other
Transaction Document, the consummation of the transactions contemplated hereby, the repayment of
any of the Obligations, the invalidity or unenforceability of any term or provision of this
Agreement or any other Transaction Document, or any investigation made by or on behalf of the
Collateral Agent or any other Secured Party. All amounts due under this Section 7.07 shall be
payable on written demand therefor and shall bear interest, on and from the date of demand, at the
rate specified in Section 2.04(a) of the Securities Purchase Agreement.

          SECTION 7.08. Collateral Agent Appointed Attorney-in-Fact. Each Grantor hereby appoints the
Collateral Agent as the attorney-in-fact of such Grantor for the purpose of carrying out the
provisions of this Agreement and taking any action and executing any instrument that the Collateral
Agent may deem necessary or advisable to accomplish the purposes hereof following the occurrence
and during the continuance of an Event of Default, which appointment is irrevocable and coupled
with an interest. Without limiting the generality of the foregoing, the Collateral Agent shall have
the right, upon the occurrence and during the continuance of an Event of Default, with full power
of substitution either in the Collateral Agent’s name or in the name of such Grantor (a) to
receive, endorse, assign and/or deliver any and all notes, acceptances, checks, drafts, money
orders or other evidences of payment relating to the Collateral or any part thereof, (b) to demand,
collect, receive payment of, give receipt for and give discharges and

 

 

releases of all or any of the
Collateral, (c) to sign the name of any Grantor on any invoice or bill of lading relating to any of
the Collateral, (d) to send
verifications of Accounts Receivable to any Account Debtor, (e) to commence and prosecute any
and all suits, actions or proceedings at law or in equity in any court of competent jurisdiction to
collect or otherwise realize on all or any of the Collateral or to enforce any rights in respect of
any Collateral, (f) to settle, compromise, compound, adjust or defend any actions, suits or
proceedings relating to all or any of the Collateral, (g) to notify, or to require any Grantor to
notify, Account Debtors to make payment directly to the Collateral Agent, and (h) to use, sell,
assign, transfer, pledge, make any agreement with respect to or otherwise deal with all or any of
the Collateral, and to do all other acts and things necessary to carry out the purposes of this
Agreement in accordance with its terms, as fully and completely as though the Collateral Agent were
the absolute owner of the Collateral for all purposes; provided, however, that nothing herein
contained shall be construed as requiring or obligating the Collateral Agent to make any commitment
or to make any inquiry as to the nature or sufficiency of any payment received by the Collateral
Agent, or to present or file any claim or notice, or to take any action with respect to the
Collateral or any part thereof or the moneys due or to become due in respect thereof or any
property covered thereby. The Collateral Agent and the other Secured Parties shall be accountable
only for amounts actually received as a result of the exercise of the powers granted to them
herein, and neither they nor their officers, directors, employees or agents shall be responsible to
any Grantor for any act or failure to act hereunder, except for their own gross negligence, willful
misconduct or bad faith.

          SECTION 7.09. Applicable Law. THIS AGREEMENT SHALL BE CONSTRUED IN ACCORDANCE WITH AND
GOVERNED BY THE LAWS OF THE STATE OF NEW YORK.

          SECTION 7.10. Waivers; Amendment. (a) No failure or delay by the Collateral Agent, the
Administrative Agent or any Purchaser in exercising any right or power hereunder or under any other
Transaction Document shall operate as a waiver hereof or thereof, nor shall any single or partial
exercise of any such right or power, or any abandonment or discontinuance of steps to enforce such
a right or power, preclude any other or further exercise thereof or the exercise of any other right
or power. The rights and remedies of the Collateral Agent, the Administrative Agent and the
Purchasers hereunder and under the other Transaction Documents are cumulative and are not exclusive
of any rights or remedies that they would otherwise have. No waiver of any provision of any
Transaction Document or consent to any departure by any Loan Party therefrom shall in any event be
effective unless the same shall be permitted by paragraph (b) of this Section 7.10, and then such
waiver or consent shall be effective only in the specific instance and for the purpose for which
given. Without limiting the generality of the foregoing, the purchase of a Note shall not be
construed as a waiver of any Default, regardless of whether the Collateral Agent or any Purchaser
may have had notice or knowledge of such Default at the time. No notice or demand on any Loan Party
in any case shall entitle any Loan Party to any other or further notice or demand in similar or
other circumstances.

 

 

          (b) Neither this Agreement nor any provision hereof may be waived, amended or modified except
pursuant to an agreement or agreements in writing entered into by the Collateral Agent and the Loan
Party or Loan Parties with respect to which such waiver, amendment or modification is to apply,
subject to any consent required in accordance with Section 10.08 of the Securities Purchase
Agreement.

          SECTION 7.11. WAIVER OF JURY TRIAL. EACH PARTY HERETO HEREBY IRREVOCABLY WAIVES, TO THE
FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN RESPECT OF
ANY LITIGATION DIRECTLY OR INDIRECTLY ARISING OUT OF, UNDER OR IN CONNECTION WITH THIS AGREEMENT OR
ANY OF THE OTHER TRANSACTION DOCUMENTS. EACH PARTY HERETO HEREBY (A) CERTIFIES THAT NO
REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT
SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER AND
(B) ACKNOWLEDGES THAT IT AND THE OTHER PARTIES HERETO HAVE BEEN INDUCED TO ENTER INTO THIS
AGREEMENT AND THE OTHER TRANSACTION DOCUMENTS, AS APPLICABLE, BY, AMONG OTHER THINGS, THE MUTUAL
WAIVERS AND CERTIFICATIONS IN THIS SECTION 7.11.

          SECTION 7.12. Severability. In the event any one or more of the provisions contained in this
Agreement or in any other Transaction Document should be held invalid, illegal or unenforceable in
any respect, the validity, legality and enforceability of the remaining provisions contained herein
and therein shall not in any way be affected or impaired thereby (it being understood that the
invalidity of a particular provision in a particular jurisdiction shall not in and of itself affect
the validity of such provision in any other jurisdiction). The parties shall endeavor in good-faith
negotiations to replace the invalid, illegal or unenforceable provisions with valid provisions the
economic effect of which comes as close as possible to that of the invalid, illegal or
unenforceable provisions.

          SECTION 7.13. Counterparts. This Agreement may be executed in counterparts (and by different
parties hereto on different counterparts), each of which shall constitute an original but all of
which when taken together shall constitute a single contract, and shall become effective as
provided in Section 7.05. Delivery of an executed signature page to this Agreement by facsimile
transmission shall be as effective as delivery of a manually signed counterpart of this Agreement.

          SECTION 7.14. Headings. Article and Section headings and the Table of Contents used herein are for convenience of
reference only, are not part of this Agreement and are not to affect the construction of, or to be
taken into consideration in interpreting, this Agreement.

          SECTION 7.15. Jurisdiction; Consent to Service of Process. (a) Each of the Grantors hereby
irrevocably and unconditionally submits, for itself and its property, to the exclusive jurisdiction
of any New York State court or Federal court of the

 

 

United States of America, sitting in New York
City, and any appellate court from any thereof, in any action or proceeding arising out of or
relating to this Agreement or any other Transaction Document, or for recognition or enforcement of
any judgment, and each of the Loan Parties hereby irrevocably and unconditionally agrees that all
claims in respect of any such action or proceeding may be heard and determined in such New York
State court or, to the extent permitted by law, in such Federal court. Each of the Loan Parties
agrees that a final judgment in any such action or proceeding shall be conclusive and may be
enforced in other jurisdictions by suit on the judgment or in any other manner provided by law.
Nothing in this Agreement or any other Transaction Document shall affect any right that the
Collateral Agent, the Administrative Agent or any Purchaser may otherwise have to bring any action
or proceeding relating to this Agreement or any other Transaction Document against any Grantor or
its properties in the courts of any jurisdiction.

          (b) Each of the Loan Parties hereby irrevocably and unconditionally waives, to the fullest
extent it may legally and effectively do so, any objection which it may now or hereafter have to
the laying of venue of any suit, action or proceeding arising out of or relating to this Agreement
or any other Transaction Document in any court referred to in paragraph (a) of this Section 7.15.
Each of the Loan Parties hereby irrevocably waives, to the fullest extent permitted by law, the
defense of an inconvenient forum to the maintenance of such action or proceeding in any such court.

          (c) Each of the Loan Parties hereby irrevocably consents to service of process in the manner
provided for notices in Section 7.01. Nothing in this Agreement or any other Transaction Document
will affect the right of the Collateral Agent to serve process in any other manner permitted by
law.

          SECTION
7.16. Termination or Release. (a) This Agreement, the guarantees made herein, the
Security Interest, the pledge of the Pledged Collateral and all other security interests granted
hereby shall terminate when all the Obligations have been indefeasibly paid in full.

          (b) A Subsidiary Guarantor shall automatically be released from its obligations hereunder and
the Security Interests created hereunder in the Collateral of such Subsidiary Guarantor shall be
automatically released upon the consummation of any transaction permitted by the Securities
Purchase Agreement as a result of which such Subsidiary Guarantor ceases to be a Subsidiary.

          (c) Upon any sale or other transfer by any Grantor of any Collateral that is permitted under
the Securities Purchase Agreement to any person that is not the Issuer or a Subsidiary Guarantor,
or, upon the effectiveness of any written consent to the release of the Security Interest granted
hereby in any Collateral pursuant to Section 10.08 of the Securities Purchase Agreement, the
Security Interest in such Collateral shall be automatically released.

          (d) In connection with any termination or release pursuant to paragraph (a), (b) or (c) above,
the Collateral Agent shall promptly execute and deliver to any Grantor, at

 

 

such Grantor’s expense,
all Uniform Commercial Code termination statements and similar documents that such Grantor shall
reasonably request to evidence such termination or release. Any execution and delivery of documents
pursuant to this Section 7.16 shall be without recourse to or representation or warranty by the
Collateral Agent or any Secured Party. Without limiting the provisions of Section 7.07, the Issuer
shall reimburse the Collateral Agent upon demand for all costs and out-of-pocket expenses,
including the reasonable fees, charges and expenses of counsel, incurred by it in connection with
any action contemplated by this Section 7.16.

          SECTION
7.17. Additional Subsidiaries. Any Subsidiary that is required to become a party
hereto pursuant to Section 5.11 of the Securities Purchase Agreement shall enter into this
Agreement as a Subsidiary Guarantor and a Grantor upon becoming such a Subsidiary. Upon execution
and delivery by the Collateral Agent and such Subsidiary of a supplement in the form of Exhibit A
hereto, such Subsidiary shall become a Subsidiary Guarantor and a Grantor hereunder with the same
force and effect as if originally named as a Subsidiary Guarantor and a Grantor herein. The
execution and delivery of any such instrument shall not require the consent of any other Loan Party
hereunder. The rights and obligations of each Loan Party hereunder shall remain in full force and
effect notwithstanding the addition of any new Loan Party as a party to this Agreement.

          SECTION
7.18. Right of Setoff. If an Event of Default shall have occurred and is continuing,
each Secured Party is hereby authorized at any time and from time to time, to the fullest extent
permitted by law, to set off and apply any and all Collateral (including any deposits (general or
special, time or demand, provisional or final)) at any time held and other obligations at any time
owing by such Secured Party to or for the credit or the account of any Grantor against any and all
of the obligations of such Grantor now or hereafter existing under this Agreement and the other
Transaction Documents held by such Secured Party, irrespective of whether or not such Secured Party
shall have made any demand under this Agreement or any other Transaction Document and although such
obligations may be unmatured. The rights of each Secured Party under this Section 7.18 are in
addition to other rights and remedies (including other rights of setoff) which such Secured Party
may have.

[Remainder of page intentionally left blank]

 

 

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

	 	 	 	 	 
	 	TRM CORPORATION

 	 
	 	By:  	/s/ Richard Stern
 	 
	 	 	Name:  	Richard Stern 	 
	 	 	Title:  	President & Chief Executive Officer 	 
	 
	 	TRM ATM CORPORATION

 	 
	 	By:  	/s/  Richard Stern
 	 
	 	 	Name:  	Richard Stern 	 
	 	 	Title:  	President & Chief Executive Officer 	 
	 
	 	TRM COPY CENTERS (USA) CORP.

 	 
	 	By:  	/s/  Richard Stern
 	 
	 	 	Name:  	Richard Stern 	 
	 	 	Title:  	President & Chief Executive Officer 	 
	 
	 	TRM ATM ACQUISITION CORP.

 	 
	 	By:  	/s/  Richard Stern
 	 
	 	 	Name:  	Richard Stern 	 
	 	 	Title:  	President & Chief Executive Officer 	 
	 
	 	ACCESS CASH INTERNATIONAL LLC

 	 
	 	By:  	/s/  Richard Stern
 	 
	 	 	Name:  	Richard Stern 	 
	 	 	Title:  	President & Chief Executive Officer 	 
	 
	 	LJR CONSULTING CORP. D/B/A ACCESS TO MONEY

 	 
	 	By:  	/s/  Richard Stern
 	 
	 	 	Name:  	Richard Stern 	 
	 	 	Title:  	President & Chief Executive Officer 	 
	 
	 	LAMPE, CONWAY & CO., LLC, as Collateral Agent

 	 
	 	By:  	/s/  Richard F. Conway
 	 
	 	 	Name:  	Richard F. Conway 	 
	 	 	Title:  	Director 	 
	 

[Signature Page to the Guarantee and Collateral Agreement]

 

 

SCHEDULES AND EXHIBITS LIST (1)

	 	 	 
	 Schedules
	 	 
	 
	Schedule I

	 	Subsidiary Guarantors
	Schedule II

	 	Equity Interests; Pledged Debt Securities
	Schedule III

	 	Intellectual Property
	 
	 	 
	Exhibits
	 	 
	 
	Exhibit A

	 	Form of Supplement
	Exhibit B

	 	Form of Perfection Certificate

 

			
	(1)	 	Pursuant to Regulation S-K Item 601(b)(2), the
Company agrees to furnish supplementally a copy of any omitted schedule or
exhibit to the Securities and Exchange Commission upon request.

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