Document:

ex-10_79.htm

Careview Communications, Inc. 8-K

 

 

Exhibit 10.79

 

INTELLECTUAL PROPERTY SECURITY AGREEMENT

This Intellectual Property Security Agreement is entered into as of April 21, 2011 by and among HealthCor Partners Fund, L.P., a Delaware limited partnership with a principal office located at Carnegie Hall Towers, 152 West 57th Street, New York, NY 10019 (“HealthCor Partners”), HealthCor Hybrid Offshore Master Fund, L.P., a Cayman Islands limited partnership with a principal office located at Carnegie Hall Towers, 152 West 57th Street, New York, NY 10019 (“HealthCor Offshore” and together with HealthCor Partners, the “Secured Parties”), CareView Communications, Inc., a Nevada corporation with a principal office located at 405 State Highway 121, Suite B-240, Lewisville, TX 75067 (“CareView NV”), CareView Communications, Inc., a Texas corporation with a principal office located at 405 State Highway 121, Suite B-240, Lewisville, TX 75067 (“CareView TX”) and CareView Operations, LLC, a Texas limited liability company with a principal office located at 405 State Highway 121, Suite B-240, Lewisville, TX 75067 (“CareView LLC” and together with CareView TX and CareView NV, collectively referred to herein as the “Grantor”).

RECITALS

A.           The Secured Parties and CareView NV have entered into that certain Note and Warrant Purchase Agreement dated of even date herewith (as the same may be amended, modified or supplemented from time to time, the “Purchase Agreement”; capitalized terms used herein are used as defined in the Purchase Agreement), pursuant to which the Secured Parties have agreed to purchase convertible promissory notes (the “Notes”) from CareView NV and advance cash to CareView NV in exchange therefor.  The Secured Parties are willing to purchase the Notes and make such cash advance to CareView NV, but only upon the condition, among others, that the Grantor shall grant to the Secured Parties a security interest in its Copyrights, Trademarks, Patents, and Mask Works (as each term is defined below) to secure the Obligations (as defined in the Security Agreement (as defined below)) under the Purchase Agreement and the Transaction Documents.

 

B.           Pursuant to the terms of the Purchase Agreement and that certain Pledge and Security Agreement by and among the Secured Parties and the Grantor, of even date herewith (as the same may be amended, modified or supplemented from time to time, the “Security Agreement”), the Grantor has granted to the Secured Parties a security interest in all of Grantor’s right, title and interest, whether presently existing or hereafter acquired, in, to and under all of the Collateral.

 

NOW, THEREFORE, for good and valuable consideration, receipt of which is hereby acknowledged, and intending to be legally bound, as collateral security for the prompt and complete payment when due of its Obligations under the Purchase Agreement and the Transaction Documents, the Grantor hereby represents, warrants, covenants and agrees as follows:

 

AGREEMENT

To secure CareView NV’s Obligations under the Purchase Agreement and the Transaction Documents, the Grantor grants and pledges to the Secured Parties a security interest in all of Grantor’s right, title and interest in, to and under the Grantor’s intellectual property (all of which shall collectively be called the “Intellectual Property Collateral”), including, without limitation, the following:

 

1.           Any and all right, title, and interest in and to the following: (a) all copyrights, rights and interests in copyrights, works protectable by copyright, copyright registrations, and copyright applications; (b) all renewals of any of the foregoing; (c) all income, royalties, damages, and payments now or hereafter due and/or payable under any of the foregoing, including, without limitation, damages or payments for past or future infringements 

 

  

  

  

for any of the foregoing; (d) the right to sue for past, present, and future infringements of any of the foregoing; and (e) all rights corresponding to any of the foregoing throughout the world, whether now or hereafter existing, created, acquired or held, and including without limitation those set forth on Exhibit A attached hereto (collectively, the “Copyrights”);

 

2.           Any and all trade secrets, and any and all intellectual property rights in computer software and computer software products now or hereafter existing, created, acquired or held;

 

3.           Any and all design rights that may be available to the Grantor now or that may hereafter be existing, created, acquired or held;

 

4.           Any and all right, title, and interest in and to: (a) any and all patents and patent applications; (b) all inventions and improvements described and claimed therein; (c) all reissues, divisions, continuations, renewals, extensions, and continuations-in-part thereof; (d) all income, royalties, damages, claims, and payments now or hereafter due or payable under and with respect thereto, including, without limitation, damages and payments for past and future infringements thereof; (e) all rights to sue for past, present, and future infringements thereof; and (f) all rights corresponding to any of the foregoing throughout the world, whether now or hereafter existing, created, acquired or held, and including without limitation the patents and patent applications set forth on Exhibit B attached hereto (collectively, the “Patents”);

 

5.           Any and all right, title, and interest in and to the following: (a) all trademarks (including service marks), trade names, trade dress, and trade styles and the registrations and applications for registration thereof and the goodwill of the business symbolized by the foregoing; (b) all licenses of the foregoing, whether as licensee or licensor; (c) all renewals of the foregoing; (d) all income, royalties, damages, and payments now or hereafter due or payable with respect thereto, including, without limitation, damages, claims, and payments for past and future infringements thereof; (e) all rights to sue for past, present, and future infringements of the foregoing, including the right to settle suits involving claims and demands for royalties owing; and (f) all rights corresponding to any of the foregoing throughout the world, whether now or hereafter existing, created, acquired or held, and including without limitation those set forth on Exhibit C attached hereto (collectively, the “Trademarks”);

 

6.           All mask works or similar rights available for the protection of semiconductor chips, now owned or hereafter acquired, including, without limitation those set forth on Exhibit D attached hereto (collectively, the  “Mask Works”);

 

7.           Any and all claims for damages by way of past, present and future infringements of any of the rights included above, with the right, but not the obligation, to sue for and collect such damages for said use or infringement of the intellectual property rights identified above;

 

8.           All licenses or other rights to use any of the Copyrights, Patents, Trademarks, or Mask Works and all license fees and royalties arising from such use to the extent permitted by such license or rights;

 

9.           All amendments, extensions, renewals and extensions of any of the Copyrights, Trademarks, Patents, or Mask Works; and

 

10.         All proceeds and products of the foregoing, including, without limitation, all payments under insurance or any indemnity or warranty payable in respect of any of the foregoing.

 

This security interest is granted in conjunction with the security interest granted to the Secured Parties under the Purchase Agreement and the Security Agreement.  The rights and remedies of the Secured Parties with 

 

  

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respect to the security interest granted hereby are in addition to those set forth in the Purchase Agreement, the Security Agreement and the other Transaction Documents, and those which are now or hereafter available to the Secured Parties as a matter of law or equity.  Each right, power and remedy of the Secured Parties provided for herein or in the Purchase Agreement, the Security Agreement or any of the other Transaction Documents, or now or hereafter existing at law or in equity shall be cumulative and concurrent and shall be in addition to every right, power or remedy provided for herein and the exercise by the Secured Parties of any one or more of the rights, powers or remedies provided for in this Intellectual Property Security Agreement, the Purchase Agreement, the Security Agreement or any of the other Transaction Documents, or now or hereafter existing at law or in equity, shall not preclude the simultaneous or later exercise by any person, including the Secured Parties, of any or all other rights, powers or remedies.

 

[Signature page follows.]

 

  

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IN WITNESS WHEREOF, the parties have caused this Intellectual Property Security Agreement to be duly executed by its officers thereunto duly authorized as of the first date written above.

 

	  	
GRANTOR:

	  	  
	
Address of Grantor:

	
CAREVIEW COMMUNICATIONS, INC.,

	  	
a Nevada corporation

	  	  
	
405 State Highway 121

Suite B-240

Lewisville, TX 75067

Attn: __________________________

	
By: /s/ Steven Johnson

Name: Steven Johnson

Title: President/COO

	  	
CAREVIEW COMMUNICATIONS, INC.,

	  	
a Texas corporation

	  	  
	
405 State Highway 121

Suite B-240

Lewisville, TX 75067

Attn: __________________________

	
By: /s/ Steven Johnson

Name: Steven Johnson

Title: President/COO

	  	
CAREVIEW OPERATIONS, LLC

	  	  
	
405 State Highway 121

Suite B-240

Lewisville, TX 75067

Attn: __________________________

	
By: /s/ Steven Johnson

Name: Steven Johnson

Title: President/COO

	  	
SECURED PARTIES:

	  	  
	
Address of Secured Party:

	
HEALTHCOR PARTNERS FUND, L.P.

	  	  
	
HealthCor Partners

Carnegie Hall Towers

152 West 57th Street

New York, NY 10019

	
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 of Secured Party:

	
HEALTHCOR HYBRID OFFSHORE MASTER FUND, L.P.

	  	  
	
HealthCor Partners

Carnegie Hall Towers

152 West 57th Street

New York, NY 10019

	
By: HealthCor Hybrid Offshore G.P., LLC, as General Partner

 

By: /s/ Steven J. Musumeci

Name: Steven J. Musumeci

Title: Chief Operating Officerex-10_80.htm

Careview Communications, Inc. 8-K

 

 

Exhibit 10.80

 

 

	
FOR IMMEDIATE RELEASE

	
SYMBOL:   CRVW

	
April 25, 2011

	
TRADED:   OTC QB

CAREVIEW COMMUNICATIONS, INC. CLOSES $20 MILLION

SENIOR SECURED CONVERTIBLE NOTES WITH

HEALTHCOR GROUP

FOR IMMEDIATE RELEASE – April 25, 2011 -- Lewisville, TX -- CareView Communications, Inc. ("CareView" or the "Company") (OTC QB: CRVW), an information technology provider to the healthcare industry, announced that it has closed a $20 million financing with funds managed by HealthCor Partners Management, L.P. and HealthCor Management, L.P. (together, "HealthCor").  The financing involved the issuance of senior secured convertible notes in the aggregate principal amount of $20 million together with common stock purchase warrants. HealthCor is a leading investment manager in the healthcare and life sciences sectors.

CareView's President, Steven G. Johnson, stated: "We have been exploring business opportunities with HealthCor for some time now and are eager to move forward in our new partnership with them.  HealthCor's extensive knowledge of the healthcare industry and its service providers will enable CareView to quickly achieve its goals to be an industry leader for healthcare technology. We are extremely gratified that HealthCor has chosen to align itself with us for the long term."

Johnson further stated:  "This is a huge step and a significant component for CareView to be in a position to move the Company into profitability. With the HealthCor funding in place and a strong sales pipeline, CareView now has the necessary elements to execute on its business plan.  It is our intent to leverage this transaction to fund further growth without additional near-term dilution to the shareholders."

HealthCor's Senior Managing Director, Jeffrey C. Lightcap, stated: "We are very excited to be able to play a part in helping CareView move forward to capture their targeted market. CareView's technology provides a much-needed service and stands to revolutionize the way that most hospitals provide patient care."

The CareView SystemTM is a high-speed data network system that can be deployed in healthcare facilities using the facility's existing cable television infrastructure.  This network supports the Room Control Platform located in each room with its complementary suite of software applications designed to streamline workflow and improve value-added services.  The Room Control Platform is a microprocessor-based system consisting of a hard disk drive, cable modem, NTSC infrared camera and related controls, microphone, USB ports, wireless keyboard and wireless remote control. It allows real-time bedside and point-of-care video monitoring and recording designed to improve efficiency while limiting liability for healthcare facilities.

About CareView Communications, Inc.

CareView has created a proprietary high-speed data network system that can be deployed throughout a healthcare facility using the existing cable television infrastructure.  This network supports CareView’s Room Control Platform (RCP) and complementary suite of software applications designed to streamline workflow and improve value-added services offered to customers.  Real-time bedside monitoring and point-of-care video monitoring and recording improve efficiency while limiting liability, and entertainment packages and education enhance quality of stay.  This technology may also act as an interface gateway for other software systems and medical devices moving forward.  CareView is dedicated to working with all types of hospitals, nursing homes, adult living centers and selected outpatient care facilities domestically and internationally.  Corporate offices are located at 405 State Highway 121 Bypass, Suite B-240, Lewisville, Texas, 75067. Questions may be directed to John R. Bailey, Chief Financial Officer at (972) 943-6050. More information about the Company is available on the Company’s website at www.care-view.com.

  

  

  

 

About HealthCor

HealthCor's private equity funds, with approximately $300 million of assets dedicated to private equity, invest primarily in later-stage development and growing mid-sized companies across all sectors of the healthcare and life sciences industry.

 

 

This press release shall not constitute an offer to sell or a solicitation of an offer to buy securities of CareView Communications, Inc. Certain statements in this release and other written or oral statements made by or on behalf of the Company are “forward looking statements” within the meaning of the federal securities laws.  Statements regarding future events and developments and our future performance, as well as management’s expectations, beliefs, plans, estimates or projections relating to the future are forward-looking statements within the meaning of these laws.  The forward-looking statements are subject to a number of risks and uncertainties including market acceptance of the Company’s services and projects and the Company’s continued access to capital and other risks and uncertainties. The actual results the Company achieves may differ materially from any forward-looking statements due to such risks and uncertainties.  These statements are based on our current expectations and speak only as of the date of such statements.  The Company undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of future events, new information or otherwise.  

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