EXHIBIT 10.51
INTELLECTUAL PROPERTY SECURITY AGREEMENT
This Intellectual Property Security Agreement is entered into as of April
9, 1999 by and between Silicon Valley Bank ("Bank") and ▇▇▇▇▇.▇▇▇, Inc.
("Grantor").
Recitals
A. Bank has agreed to make certain advances of money and to extend certain
financial accommodation to Grantor (the "Loans") in the amounts and manner set
forth in that certain Loan and Security Agreement by and between Bank and
Grantor dated of even date herewith (as the same may be amended, modified or
supplemented from time to time, the "Loan Agreement"; capitalized terms used
herein are used as defined in the Loan Agreement). Bank is willing to make the
Loans to Grantor, but only upon the condition, among others, that Grantor shall
grant to Bank a security interest in certain Copyrights, Trademarks, Patents,
and Mask Works to secure the obligations of Grantor under the Loan Agreement.
B. Pursuant to the terms of the Loan Agreement, Grantor has granted to
Bank 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 Loan
Agreement, Grantor hereby represents, warrants, covenants and agrees as follows:
Agreement
To secure its obligations under the Loan Agreement, Grantor grants and
pledges to Bank a security interest in all of Grantor's right, title and
interest in, to and under its Intellectual Property Collateral (including
without limitation those Copyrights, Patents, Trademarks and Mask Works listed
on Schedules A, B, C, and D hereto), and including without limitation all
proceeds thereof (such as, by way of example but not by way of limitation,
license royalties and proceeds of infringement suits), the right to ▇▇▇ for
past, present and future infringements, all rights corresponding thereto
throughout the world and all re-issues, divisions continuations, renewals,
extensions and continuations-in-part thereof.
This security interest is granted in conjunction with the security interest
granted to Bank under the Loan Agreement. The rights and remedies of Bank with
respect to the security interest granted hereby are in addition to those set
forth in the Loan Agreement and the other Loan Documents, and those which are
now or hereafter available to Bank as a matter of law or equity. Each right,
power and remedy of Bank provided for herein or in the Loan Agreement or any of
the Loan 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 Bank of any one or more of the
rights, powers or remedies provided for in this Intellectual Property Security
Agreement, the Loan Agreement or any of the other Loan
1
Documents, or now or hereafter existing at law or in equity, shall not preclude
the simultaneous or later exercise by any person, including Bank, of any or all
other rights, powers or remedies.
2
In Witness Whereof, the parties have cause this Intellectual Property
Security Agreement to be duly executed by its officers thereunto duly authorized
as of the first date written above.
Address of Grantor: Grantor:
▇▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇, ▇▇▇▇▇ ▇▇▇ ▇▇▇▇▇.▇▇▇, Inc.,
▇▇▇ ▇▇▇▇▇, ▇▇ ▇▇▇▇▇ a Delaware corporation
By: /s/ ▇▇▇▇▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇
--------------------------
Name: ▇▇▇▇▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇
--------------------------
Title: President and CEO
-------------------------
Address of Bank: Bank:
▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇
▇▇▇▇▇ ▇▇▇▇▇, ▇▇ ▇▇▇▇▇-▇▇▇▇
Attn: Mezzanine Finance, NC475
By: /s/ ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇▇
--------------------------
Name: ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇▇
--------------------------
Title: Vice President
-------------------------
EXHIBIT A
COPYRIGHTS
No. Title Physical Name of Date of Date of Eff. Date of Limitation
Description Claimant Creation Publication Registration Claim
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▇-▇▇▇-▇▇▇ Vacant Land Sales, Will 410 p. Comps 1995 10/15/95 12/26/95
Co.,IL, 1/95-9/95 Infosystems, Inc.
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▇-▇▇▇-▇▇▇ Commercial & Industrial 280 p. Comps 1995 10/15/95 12/26/95
building sales, the City Infosystems, Inc.
of Chicago, 1/95-9/95
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▇-▇▇▇-▇▇▇ Commercial & Industrial 1 v. Comps 1995 10/15/95 12/26/95
building sales, the City Infosystems, Inc.
of Chicago, year end 1994
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▇-▇▇▇-▇▇▇ Vacant land sales, the 240 p. Comps 1995 1/15/95 12/26/95
City of Chicago, year end Infosystems, Inc.
1994
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▇-▇▇▇-▇▇▇ Vacant land sales, the 303 p. Comps 1995 1/15/95 12/26/95
City of Chicago, 1/95-9/95 Infosystems, Inc.
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▇-▇▇▇-▇▇▇ Vacant land sales- 133 p. Comps 1995 10/15/95 12/26/95
sketches, Will Co., IL, Infosystems, Inc.
year end 1994
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▇-▇▇▇-▇▇▇ Commercial & industrial 62 p. Comps 1995 10/15/95 12/26/95
building sales, Will Co., Infosystems, Inc.
IL, 1/95-9/95
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▇-▇▇▇-▇▇▇ Commercial & industrial 193 p. Comps 1995 10/15/95 12/26/95
building sales, No. ▇▇▇▇ Infosystems, Inc.
Co., IL, 1/95-9/95
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▇-▇▇▇-▇▇▇ Vacant land sales, No. 118 p. Comps 1995 1/15/95 12/26/95
Co., IL, 1/95-9/95 Infosystems, Inc.
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▇-▇▇▇-▇▇▇ Vacant land sales, So. 257 p. Comps 1995 1/15/95 12/26/95
Co., IL, 1/95-9/95 Infosystems, Inc.
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▇-▇▇▇-▇▇▇ Vacant land sales, So. 239 p. Comps 1995 1/15/95 12/26/95
▇▇▇▇ Co., IL, year end Infosystems, Inc.
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▇-▇▇▇-▇▇▇ COMPSBase (group Comps 1996 12/31/96 1/21/97
registration for Infosystems, Inc.
automated database,
updates from
1/1/96-9/30/96
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▇-▇▇▇-▇▇▇ COMPSBase (group Comps 1996 12/31/96 10/2/97
registration for Infosystems, Inc.
automated database,
updates from
10/1/96-12/31/96
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▇-▇▇▇-▇▇▇ COMPSBase (group Comps 1997 12/31/97 10/2/97
registration for automated Infosystems, Inc.
database, updates from
1/1/97-3/31/97
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▇-▇▇▇-▇▇▇ COMPSBase (group Comps 1997 9/30/97 1/20/98
registration for automated Infosystems, Inc.
database, updates from
7/1/97-9/30/97
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▇-▇▇▇-▇▇▇ COMPSBase (group 2 computer Comps 1997 12/31/97 2/2/98
registration for disk Infosystems, Inc.
automated database,
updates from 10/1/97-
12/31/97
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▇-▇▇▇-▇▇▇ COMPSBase (group Comps 1997 6/30/97 10/2/97
registration for automated Infosystems, Inc.
database, updates from
4/1/97-6/30/97
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A - 1
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u-682-577 Win Comps 2.0 computer Comps 1995 3/25/96
program Infosystems, Inc.
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103104 Commercial & industrial Land Sales 1994 10/15/95
building sales, So. ▇▇▇▇ Resources, Inc.
Co., IL, year end 1992 (Comps Infosystems,
Inc.)
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115989 Vacant land sales data, Comps Infosystems, 1995 1/15/95
Will Co., IL, year end 1994 Inc.
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EXHIBIT B
PATENTS
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NONE
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B - 1
EXHIBIT C
TRADEMARKS
▇▇▇▇ Title Application Number Filing Date Owner of Record Assignment History
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COMPS 75-451,196 March 16, 1998 COMPS
INFOSYSTEMS, INC.
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COMPS 75-440,873 February 26, 1998 COMPS
INFOSYSTEMS, INC.
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E COMPS 75-342,595 August 18, 1997 COMPS
INFOSYSTEMS, INC.
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COMPS NET 2,192,183 September 29, 1998 COMPS
INFOSYSTEMS, INC.
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WINCOMPS 2,047,151 March 25, 1997 COMPS Assigned to Venture
INFOSYSTEMS, INC. Lending & Leasing
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CALLCOMPS 1,957,864 February 20, 1996 COMPS Assigned to Venture
INFOSYSTEMS, INC. Lending & Leasing
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COMPSLINK 1,662,350 October 29, 1991 COMPS Assigned to Venture
INFOSYSTEMS, INC. Lending & Leasing
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COMPS 1,653,036 August 6, 1991 COMPS Assigned to Venture
INFOSYSTEMS, INC. Lending & Leasing
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REALBID 2,201,095 November 3, 1998 COMPS
INFOSYSTEMS, INC.
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C - 1
EXHIBIT D
MASKWORKS
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NONE
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D - 1