SEC Contract Filing

Filing Date: 2015-03-18

Document Content:
<DOCUMENT>
<TYPE>EX-10.23
<SEQUENCE>5
<FILENAME>hiiq-ex1023_20141231144.htm
<DESCRIPTION>EX-10.23
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<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
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<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:10pt;font-family:Times New Roman;letter-spacing:-0.2pt;font-style:normal;text-transform:none;font-variant: normal;">Form of Security Agreement (Commercial)</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Blanket Lien; Accounts and General Intangibles</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Inventory, Accounts and General Intangibles </p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Furniture, Fixtures and Equipment</p></td>
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<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:0%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">This Security Agreement dated as of December 15, 2014 by _________________ (&#8220;Owner&#8221;) in favor of SunTrust Bank, its present and future affiliates and their successors and assigns (collectively, &#8220;SunTrust&#8221;) provides:</p>
<p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:0%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">In order to induce SunTrust from time to time to enter into agreements with and to extend or continue to extend credit to ____________________ (and any one or more and any combination if more than one, the &#8220;Borrower&#8221;) and in consideration of any credit so extended, Owner (which may include the Borrower) hereby grants, sells, assigns, transfers and conveys to SunTrust, a security interest in the Collateral and all proceeds, products, rents and profits thereof and all substitutions and replacements therefore and all revenues from the right to use the Collateral to secure the prompt payment and performance of any and all liabilities, obligations, agreements and undertakings of Borrower to SunTrust (and, in addition, all liabilities, obligations, agreements and undertakings of Owner, or any one or more of them, to SunTrust if Owner and Borrower are not the same person or entity) in any amount, whether now existing or hereafter arising, including those owed by Borrower or Owner to others and acquired by SunTrust through purchase, assignment or otherwise, however created, evidenced or arising, whether individually or jointly with others, and whether absolute or contingent, direct or indirect, as maker, endorser, guarantor, surety or otherwise, liquidated or unliquidated, matured or unmatured, whether or not secured by other collateral, and including, without limitation, (a) all obligations to perform or forbear from performing any acts, (b) all overdrafts on deposits or accounts maintained by Borrower or Owner with SunTrust, (c) all liabilities, obligations, agreements and undertakings of Borrower or Owner to SunTrust pursuant to any interest rate hedge agreement or other derivative transaction agreement or any foreign exchange contract or any application or other agreement requesting SunTrust to issue any letter of credit including, without limitation, the obligation of Borrower or Owner to reimburse SunTrust for all amounts funded by SunTrust pursuant to any such letter of credit, (d)<font style="color:#;"> all </font>obligations and other liabilities of Borrower or Owner to SunTrust&nbsp;&nbsp;in respect of any of the following services (i) any treasury or other cash management services, including, without limitation, automated clearing house (ACH) origination and other funds transfer, depository (including, without limitation,&nbsp;&nbsp;cash vault and check deposit),&nbsp;&nbsp;zero balance account and sweep,&nbsp;&nbsp;returned items processing,&nbsp;&nbsp;controlled disbursement,&nbsp;&nbsp;positive pay,&nbsp;&nbsp;lockbox,&nbsp;&nbsp;account reconciliation and information reporting,&nbsp;&nbsp;payables outsourcing,&nbsp;&nbsp;payroll processing, and&nbsp;&nbsp;trade finance services, and (ii) card services, including, without limitation,&nbsp;&nbsp;credit card (including, without limitation,&nbsp;&nbsp;purchasing card and commercial card), prepaid card (including, without limitation,&nbs