Document:

CareView Communications, Inc. 8-K

 

Exhibit 10.34

 

Execution Version

 

CONSENT
AND AGreement PURSUANT TO

NOTE AND WARRANT PURCHASE AGREEMENT

 

This CONSENT
AND AGreement PURSUANT TO NOTE AND WARRANT PURCHASE AGREEMENT, dated as of April 20, 2021 (this “Consent
Agreement”), is made by and among CAREVIEW COMMUNICATIONS, INC., a Nevada corporation (the “Company”),
the HealthCor Parties (as defined below), and such additional Existing Investors (as defined below) as, together with the HealthCor Parties
(collectively, the “Majority Investors”), are holders of at least a majority of the shares of Common Stock issued or
issuable (on an as converted basis) upon conversion of the Notes and Warrants.

 

WITNESSETH:

 

WHEREAS, the Company,
HealthCor Partners Fund, L.P. (“HealthCor Partners”), HealthCor Hybrid Offshore Master Fund, L.P. (“HealthCor
Hybrid” and, together with HealthCor Partners, the “HealthCor Parties”) and certain additional investors
that purchased additional Notes and additional Warrants on February 17, 2015 (the “2015 Investors”), additional Notes
and additional Warrants on February 23, 2018 (the “February 2018 Investors”), additional Notes on July 13, 2018 (the
“July 2018 Investors”), additional Notes on May 15, 2019 (the “2019 Investor”) and
additional Notes on February 6, 2020 (the “2020 Investor” and, together with the 2015 Investors, the February
2018 Investors, the July 2018 Investors, the 2019 Investor and the HealthCor Parties, the “Existing Investors”) are
parties to that certain Note and Warrant Purchase Agreement, dated as of April 21, 2011 (as amended from time to time, including without
limitation pursuant to that certain Note and Warrant Amendment Agreement dated December 30, 2011, that certain Second Amendment to Note
and Warrant Purchase Agreement dated January 31, 2012, that certain Third Amendment to Note and Warrant Purchase Agreement dated August
20, 2013, that certain Fourth Amendment to Note and Warrant Purchase Agreement dated January 16, 2014, that certain Fifth Amendment to
Note and Warrant Purchase Agreement dated December 15, 2014, that certain Sixth Amendment to Note and Warrant Purchase Agreement dated
March 31, 2015, that certain Seventh Amendment to Note and Warrant Purchase Agreement dated June 26, 2015, that certain Eighth Amendment
to Note and Warrant Purchase Agreement dated February 23, 2018, that certain Ninth Amendment to Note and Warrant Purchase Agreement dated
July 10, 2018, that certain Tenth Amendment to Note and Warrant Purchase Agreement dated July 13, 2018, that certain Eleventh Amendment
to Note and Warrant Purchase Agreement dated March 27, 2019, that certain Twelfth Amendment to Note and Warrant Purchase Agreement dated
May 15, 2019 and that certain Thirteenth Amendment to Note and Warrant Purchase Agreement dated February 6, 2020, the “Purchase
Agreement”);

 

WHEREAS, as contemplated by the Purchase Agreement, the Company issued and sold (a) $20,000,000 initial
principal amount of Notes (the “2011 Notes”) and Warrants to purchase 11,782,859 shares of Common Stock to the HealthCor
Parties on April 21, 2011, (b) $5,000,000 initial principal amount of Supplemental Closing Notes (the “2012 Notes”)
to the HealthCor Parties on January 31, 2012, (c) $5,000,000 initial principal amount of 2014 Supplemental Closing Notes and 2014
Supplemental Warrants to purchase 4,000,000 shares of Common Stock to the HealthCor Parties on January 16, 2014, (d) $6,000,000 initial
principal amount of Fifth Amendment Supplemental Closing Notes and Fifth Amendment Supplemental Warrants to purchase 3,692,308 shares
of Common Stock to HealthCor Partners and the 2015 Investors on February 17, 2015, (e) $2,050,000 initial principal amount of Eighth
Amendment Supplemental Notes and Eighth Amendment Supplemental Warrants to purchase 512,500 shares of Common Stock to the February 2018
Investors on February 23, 2018, (f) $1,000,000 initial principal amount of Tenth Amendment Supplemental Notes to the July 2018
Investors on July 13, 2018, (g) $50,000 initial principal amount of Twelfth Amendment Supplemental Notes to the 2019 Investor
on May 15, 2019 and (h) $100,000 initial principal amount of Thirteenth Amendment Supplemental Notes to the 2020 Investor on
February 6, 2020;

 

     

     

    

 

WHEREAS, pursuant to
Section 7.9 of the Purchase Agreement and subject to the terms and conditions contained herein, the Majority Investors desire to consent
to the amendment of the 2011 Notes and 2012 Notes through the execution and delivery by the Company and the HealthCor Parties of Allonge
No. 3 to the 2011 Notes and Allonge No. 3 to the 2012 Notes, in the forms attached as Exhibit A and Exhibit B
hereto, respectively, for the purposes of (a) extending the maturity date of the 2011 Notes from April 20, 2021 to April 20,
2022 and (b) extending the maturity date of the 2012 Notes from January 30, 2022 to April 20, 2022 (such amendments to
the 2011 Notes and 2012 Notes together, the “HealthCor Note Extensions”); in each case retaining the existing provision
for the potential earlier repayment thereof subject to certain conditions, including the Company’s senior debt being repaid in full,
being first met; and

 

WHEREAS, pursuant to
Section 7.9 of the Purchase Agreement and subject to the terms and conditions contained herein, the Majority Investors desire to (a) consent
pursuant to Section 6.12 of the Purchase Agreement to the Company’s issuance of warrants in the form attached as Exhibit C
hereto for the purchase of an aggregate of 2,000,000 shares of Common Stock, with an exercise price per share equal to $0.23 (subject
to adjustment as described therein), to the HealthCor Parties in consideration of the HealthCor Note Extensions (such warrants collectively,
the “2021 HealthCor Warrants”) and (b) waive the Investors’ rights, if any, as set forth under Section 5.4
of the Purchase Agreement (the “Preemptive Rights”) with respect to the issuance of the 2021 HealthCor Warrants, including
without limitation any notice rights thereunder.

 

NOW, THEREFORE, in
consideration of the agreements hereinafter set forth, and for other good and valuable consideration, the receipt and adequacy of which
are hereby acknowledged, the parties hereto agree as follows:

 

1.       
Definitions. Capitalized terms used in this Consent Agreement but not defined in this Consent Agreement shall have the meanings
ascribed to them in the Purchase Agreement.

 

2.       
Consent to Amendment of 2011 Notes and 2012 Notes. The Majority Investors hereby consent, pursuant to Section 7.9 of
the Purchase Agreement, to the amendment of the 2011 Notes and 2012 Notes through the execution and delivery by the Company and the HealthCor
Parties of the HealthCor Note Extensions.

 

3.       
Consent to Issuance of 2021 HealthCor Warrants. The Majority Investors hereby consent, pursuant to Section 6.12 and
Section 7.9 of the Purchase Agreement, to the Company’s issuance of the 2021 HealthCor Warrants.

 

    2 

     

    

 

4.       
Waiver of Preemptive Rights. The Majority Investors hereby waive, pursuant to Section 7.9 of the Purchase Agreement,
the Preemptive Rights, if any, of the Investors as set forth under Section 5.4 of the Purchase Agreement with respect to the issuance
of the 2021 HealthCor Warrants, including without limitation any notice rights thereunder.

 

5.       
Registration Rights. The Company, the HealthCor Parties and the Majority Investors (representing the holders of a majority
of the “Registrable Securities” as defined in the Registration Rights Agreement) hereby agree that the 2021 HealthCor Warrants
shall be considered “Warrants” for purposes of Section 1(n) of the Registration Rights Agreement and the shares issuable upon
exercise of the 2021 HealthCor Warrants shall be considered “Warrant Shares” and “Registrable Securities” for
purposes of Sections 1(o) and 1(i), respectively, of the Registration Rights Agreement.

 

6.       
Miscellaneous.

 

(a)       
Ratification and Confirmation. The Company acknowledges, agrees and confirms that the Purchase Agreement and each of the
other Transaction Documents, except as expressly set forth in this Consent Agreement, are and shall continue to be in full force and effect
and are hereby in all respects ratified and confirmed.

 

(b)       
Expenses. The Company will pay and bear full responsibility for the reasonable legal fees and other out-of-pocket costs
and expenses of the Investors attributable to the negotiation and consummation of the transactions contemplated hereby.

 

(c)       
Governing Law. All questions concerning the construction, interpretation and validity of this Consent Agreement shall be
governed by and construed and enforced in accordance with the domestic laws of the State of Delaware without giving effect to any choice
or conflict of law provision or rule (whether in the State of Delaware or any other jurisdiction) that would cause the application of
the laws of any jurisdiction other than the State of Delaware. In furtherance of the foregoing, the internal law of the State of Delaware
will control the interpretation and construction of this Consent Agreement, even if under such jurisdiction’s choice of law or conflict
of law analysis, the substantive law of some other jurisdiction would ordinarily or necessarily apply.

 

(d)       
Construction. The Company and the Investors acknowledge that the Company and its independent counsel and the Investors and
their independent counsel have jointly reviewed and drafted this document, and agree that any rule of construction and interpretation
to the effect that drafting ambiguities are to be resolved against the drafting party shall not be employed.

 

(e)       
Counterparts; Facsimile and Electronic Signatures. This Consent Agreement may be executed in any number of counterparts,
and each such counterpart hereof shall be deemed to be an original instrument, but all such counterparts together shall constitute but
one agreement. Counterpart signatures to this Consent Agreement delivered by facsimile or other electronic transmission shall be acceptable
and binding.

 

    3 

     

    

 

(f)        
Headings. The section and paragraph headings contained in this Consent Agreement are for reference purposes only and shall
not affect in any way the meaning or interpretation of this Consent Agreement.

 

[Signature Pages Follow]

 

    4 

     

    

 

IN WITNESS WHEREOF,
each of the undersigned has duly executed this Consent Agreement as of the date first written above. 

 

	 	COMPANY:
	 	 	 
	 	CareView Communications, Inc., a Nevada corporation
	 	 	 
	 	By:	/s/ Steven G. Johnson
	 	 	Name: Steven G. Johnson
	 	 	Title: President

 

[Signature Page to Consent Agreement]

 

     

     

    

 

	 	MAJORITY INVESTORS:
	 	 	 
	 	HealthCor Partners Fund, L.P.
	 	By: HealthCor Partners Management L.P., as Manager
	 	By: HealthCor Partners Management, G.P., LLC, as General Partner
	 	 	 
	 	By:	/s/ Jeffrey C. Lightcap
	 	Name: Jeffrey C. Lightcap
	 	Title: Senior Managing Director
	 	Address: 	HealthCor Partners
	 	 	1325 Avenue of Americas, 27th Floor
	 	 	New York, NY 10019
	 	 	 
	 	HealthCor Hybrid Offshore Master Fund, L.P.
	 	By: HealthCor Hybrid Offshore G.P., LLC, as General Partner
	 	 	 
	 	By:	/s/ Anabelle Gray
	 	Name: Anabelle Gray
	 	Title: General Counsel
	 	Address:	HealthCor Partners
	 	 	1325 Avenue of Americas, 27th Floor
	 	 	New York, NY 10019
	 	 	 	 

[Signature
Page to Consent Agreement] 

 

     

     

    

	 	MAJORITY INVESTORS:
	 	 
	 	/s/ Steven B. Epstein
	 	Steven B. Epstein
	 	 
	 	/s/ Dr. James R. Higgins
	 	Dr. James R. Higgins
	 	 
	 	/s/ Steven G. Johnson
	 	Steven G. Johnson
	 	 
	 	/s/ Jeffrey C. Lightcap
	 	Jeffrey C. Lightcap

 

[Signature Page to Consent Agreement]

 

     

     

    

 

ACKNOWLEDGED AND AGREED: 

 

	CareView Communications, Inc., a Texas corporation	 
	 	 	 
	By:	/s/ Steven G. Johnson	 
	Name:  	 Steven G. Johnson	 
	Title: 	President	 
	 	 	 
	 	 	 
	CareView Operations, LLC	 
	 	 	 
	By:	/s/ Steven G. Johnson	 
	Name: 	 Steven G. Johnson	 
	Title: 	President	 

 

[Signature Page to Consent Agreement]

 

     

     

    

 

Exhibit A

 

Form of Allonge No. 3 to the 2011 Notes

 

(Attached)

  

     

     

    

 

Exhibit B

 

Form of Allonge No. 3 to the 2012 Notes

 

(Attached)

 

     

     

    

 

Exhibit C

 

Form of 2021 HealthCor Warrants

 

(Attached)CareView Communications, Inc. 8-K

 

Exhibit 10.35

  

CONSENT AND AGREEMENT REGARDING NOTE EXTENSIONS

 

This CONSENT AND AGREEMENT
REGARDING NOTE EXTENSIONS (this “Consent Agreement”), dated as of April 20, 2021, by and among CAREVIEW COMMUNICATIONS,
INC., a Nevada corporation (“Holdings”), CAREVIEW COMMUNICATIONS, INC., a Texas corporation and a wholly owned subsidiary
of Holdings (the “Borrower”), CAREVIEW OPERATIONS, L.L.C., a Texas limited liability company and a wholly owned subsidiary
of the Borrower (the “Subsidiary Guarantor”), and PDL INVESTMENT HOLDINGS, LLC, a Delaware limited liability company
(as assignee of PDL BioPharma, Inc.), in its capacity as lender under the Credit Agreement defined below (in such capacity, the “Lender”)
and in its capacity as agent (in such capacity, the “Agent”) under the Credit Agreement.

 

RECITALS

 

WHEREAS, Holdings, the Borrower,
the Lender, the Agent and the Tranche Three Lender have entered into that certain Credit Agreement dated as of June 26, 2015 (as amended,
the “Credit Agreement”) pursuant to which the Lender made a term loan to the Borrower in the original aggregate principal
amount of $20,000,000 and the Tranche Three Lender made term loans to the Borrower in the original aggregate principal amount of $700,000;

 

WHEREAS, Holdings, HealthCor
Partners Fund, L.P. (“HealthCor Partners”), HealthCor Hybrid Offshore Master Fund, L.P. (“HealthCor Hybrid”
and, together with HealthCor Partners, the “HealthCor Parties”) and certain additional investors that purchased notes
and warrants from Holdings are parties to the HealthCor Note and Warrant Purchase Agreement;

 

WHEREAS, as contemplated by
the HealthCor Note and Warrant Purchase Agreement, Holdings issued and sold (a) $20,000,000 initial principal amount of notes (the
“2011 Notes”) to the HealthCor Parties on April 21, 2011, and (b) $5,000,000 initial principal amount of
notes (the “2012 Notes”) to the HealthCor Parties on January 31, 2012;

 

WHEREAS, Holdings and the
HealthCor Parties desire to amend the 2011 Notes and the 2012 Notes through the execution and delivery by Holdings and the HealthCor Parties
of Allonge No. 3 to the 2011 Notes and Allonge No. 3 to the 2012 Notes, in the forms attached as Exhibit A and Exhibit B
hereto, respectively, for the purposes of (a) extending the maturity date of the 2011 Notes from April 20, 2021 to April 20,
2022 and (b) extending the maturity date of the 2012 Notes from January 30, 2022 to April 20, 2022 (such amendments to
the 2011 Notes and 2012 Notes together, the “HealthCor Note Extensions”); in each case retaining the existing provision
for the potential earlier repayment thereof subject to certain conditions, including Holdings’ and the Borrower’s senior debt
being repaid in full, being first met;

 

WHEREAS, Holdings and the
Borrower have determined that the HealthCor Note Extensions are in the best interest of Holdings and the Borrower, and have requested
that the Agent and the Lender agree to consent, pursuant to the terms of the Credit Agreement, to Holdings’ entering into the HealthCor
Note Extensions; and

  

WHEREAS, the Agent and the Lender are willing to consent under the terms of the Credit Agreement to Holdings’
entering into the HealthCor Note Extensions.

 

     

     

    

 

NOW, THEREFORE, in consideration
of the agreements hereinafter set forth, and for other good and valuable consideration, the receipt and adequacy of which are hereby acknowledged,
the parties hereto agree as follows:

 

Article
I.

DEFINITIONS

 

1.1       
Definitions. Unless otherwise defined herein or the context otherwise requires, terms
used in this Consent Agreement, including its preamble and recitals, have the meanings provided in the Credit Agreement.

 

Article
II.

CONSENT UNDER CREDIT AGREEMENT

 

2.1       
Consent to HealthCor Note Extensions. Pursuant to Section 10.1 of the Credit Agreement, the Agent and the Lender
hereby consent to Holdings’ entering into the HealthCor Note Extensions.

 

Article
III.

MISCELLANEOUS

 

3.1       
Loan Document. This Consent Agreement is a Loan Document executed pursuant to the Credit
Agreement and shall (unless otherwise expressly indicated herein) be construed, administered and applied in accordance with the terms
and provisions of the Credit Agreement.

 

3.2       
Effect of Consent Agreement. Except as expressly set forth herein, this Consent Agreement
shall not by implication or otherwise limit, impair, constitute a waiver of, or otherwise affect, the rights and remedies of the parties
to the Credit Agreement and shall not alter, modify, amend or in any way affect any of the terms or conditions contained therein, all
of which are ratified and affirmed in all respects and shall continue in full force and effect. Nothing herein shall be deemed to entitle
any Loan Party to any future consent with respect to, or waiver, amendment, modification or other change of, any of the terms or conditions
contained in the Credit Agreement in similar or different circumstances. Except as expressly stated herein, the Agent and the Lender
reserve all rights, privileges and remedies under the Loan Documents. All references in the Credit Agreement and the other Loan Documents
to the Credit Agreement shall be deemed to be references to the Credit Agreement as modified hereby.

 

3.3       
Reaffirmation of Loan Documents. Each of Holdings, the Borrower and the Subsidiary Guarantor
hereby reaffirms its obligations under each Modification Document and Loan Document to which it is a party. Each of Holdings, the Borrower
and the Subsidiary Guarantor hereby further ratifies and reaffirms the validity and enforceability of all of the liens and security interests
heretofore granted, pursuant to and in connection with the Guarantee and Collateral Agreement or any other Loan Document, to the Agent,
as collateral security for the obligations under the Loan Documents in accordance with their respective terms, and acknowledges that
all of such liens and security interests, and all Collateral heretofore pledged as security for such obligations, continue to be and
remain collateral for such obligations from and after the date hereof.

 

    2 

     

    

 

3.4       
Fees and Expenses. The Borrower agrees to pay within five Business Days of the Consent
Agreement Effective Date, by wire transfer of immediately available funds to an account of the Agent designated in writing, reimbursement
from the Borrower of all costs and expenses incurred by the Agent and the Lender in connection with this Consent Agreement, including
any and all fees payable or owed to Gibson, Dunn & Crutcher LLP in connection with the drafting, negotiation, and execution of this
Consent Agreement.

 

3.5       
Counterparts. This Consent Agreement may be executed by the parties hereto in several
counterparts, each of which shall be deemed to be an original and all of which shall constitute together but one and the same agreement.
Delivery of an executed signature page of this Consent Agreement by facsimile transmission or electronic transmission shall be as effective
as delivery of a manually executed counterpart hereof.

 

3.6      
Construction; Captions. Each party hereto hereby acknowledges that all parties hereto participated equally in the negotiation
and drafting of this Consent Agreement and that, accordingly, no court construing this Consent Agreement shall construe it more stringently
against one party than against the other. The captions and headings of this Consent Agreement are for convenience of reference only and
shall not affect the interpretation of this Consent Agreement. 

 

3.7       
Successors and Assigns. This Consent Agreement shall be binding upon and inure to the
benefit of the parties hereto and their respective successors and assigns (as permitted under the Credit Agreement).

 

3.8      
Governing Law. This
Consent Agreement, the rights and obligations of the parties hereto, and any claims or disputes relating thereto shall be governed by
and construed in accordance with THE INTERNAL LAWS OF THE STATE OF NEW YORK WITHOUT REGARD TO CONFLICT OF LAWS PRINCIPLES (OTHER THAN
SECTION 5-1401 OF THE NEW YORK GENERAL OBLIGATIONS LAW).

 

3.9      
Severability. The illegality or unenforceability of any provision of this Consent Agreement or any instrument or agreement
required hereunder shall not in any way affect or impair the legality or enforceability of the remaining provisions of this Consent Agreement
or any instrument or agreement required hereunder.

 

    3 

     

    

 

3.10      Release of Claims. In consideration of the Lender’s and Agent’s agreements
contained in this Consent Agreement, each of Holdings, the Borrower and the Subsidiary Guarantor hereby releases and discharges the Lender
and the Agent and their affiliates, subsidiaries, successors, assigns, directors, officers, employees, agents, consultants and attorneys
(each, a “Released Person”) of and from any and all other claims, suits, actions, investigations, proceedings or demands,
whether based in contract, tort, implied or express warranty, strict liability, criminal or civil statute or common law of any kind or
character, known or unknown, which Holdings, the Borrower or the Subsidiary Guarantor ever had or now has against the Agent, any Lender
or any other Released Person which relates, directly or indirectly, to any acts or omissions of the Agent, any Lender or any other Released
Person relating to this Consent Agreement or the Credit Agreement or any other Loan Document on or prior to the date hereof.

 

[Signature page follows]

 

    4 

     

    

 

IN WITNESS WHEREOF, each of
the parties hereto has caused this Consent Agreement to be duly executed and delivered as of the date first above written.

 

	 	CAREVIEW COMMUNICATIONS, INC.,
	 	a Nevada corporation,
	 	as Holdings
	 	 
	 	By:  	/s/ Steven G. Johnson
	 	 	Name:  Steven G. Johnson
	 	 	Title:    President and Chief Executive Officer
	 	 	 
	 	CAREVIEW COMMUNICATIONS, INC.,
	 	a Texas corporation,
	 	as Borrower
	 	 
	 	By:  	/s/ Steven G. Johnson
	 	 	Name:  Steven G. Johnson
	 	 	Title:    President and Chief Executive Officer
	 	 	 
	 	CAREVIEW OPERATIONS, L.L.C.,
	 	a Texas limited liability company,
	 	as Subsidiary Guarantor
	 	 
	 	By:  	/s/ Steven G. Johnson
	 	 	Name:  Steven G. Johnson
	 	 	Title:    President and Chief Executive Officer

 

[Signature Page to Consent Agreement]

 

     

     

    

 

	 	PDL INVESTMENT HOLDINGS, LLC,
	 	a Delaware limited liability company,
	 	as Agent
	 	 
	 	By:  	/s/ Christopher Stone
	 	 	Name:  Christopher Stone
	 	 	Title:    CEO
	 	 	 
	 	PDL INVESTMENT HOLDINGS, LLC,
	 	a Delaware limited liability company,
	 	as Lender
	 	 
	 	By:	/s/ Christopher Stone
	 	 	Name:  Christopher Stone
	 	 	Title:    CEO

 

[Signature Page to Consent Agreement]

 

     

     

    

 

Exhibit A

 

Form of Allonge No. 3 to the 2011 Notes

 

(Attached)

  

     

     

    

 

Exhibit B

 

Form of Allonge No. 3 to the 2012 Notes

 

(Attached)

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