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Title: |
Loan and Security Agreement |
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Entities: |
Abgenix, Inc.; Cell Genesys, Inc.; Fleet National Bank; Silicon Valley Bank |
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Date: |
2003 |
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Size: |
82KB total |
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Price: |
$54 |
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ID: |
#297794 |
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Start of Preview |
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LOAN AND SECURITY AGREEMENT
by and between
SILICON VALLEY BANK
3003 Tasman Drive
Santa Clara, CA 95054
Attn: Loan Services
(408) 496-2429
and
CELL GENESYS, INC.,
500 Forbes Boulevard
South San Francisco, California 94080
TOTAL CREDIT AMOUNT: $35,000,000
TABLE OF CONTENTS
| Page | ||||||
|
1. |
ACCOUNTING AND OTHER TERMS |
1 | ||||
|
2. |
LOAN AND TERMS OF PAYMENT |
1 | ||||
| 2.1 |
Credit Extensions. |
1 | ||||
| 2.2 |
Interest Rate, Payments. |
1 | ||||
| 2.3 |
Fees. |
2 | ||||
|
3. |
CONDITIONS OF LOANS |
2 | ||||
| 3.1 |
Conditions Precedent to the Initial Credit Extension. |
2 | ||||
| 3.2 | Conditions Subsequent. | 3 | ||||
|
4. |
CREATION OF SECURITY INTEREST |
4 | ||||
| 4.1 |
Grant of Security Interest. |
4 | ||||
| 4.2 |
Certificate of Deposit Collateral. |
4 | ||||
|
5. |
REPRESENTATIONS AND WARRANTIES |
4 | ||||
| 5.1 |
Due Organization and Authorization. |
4 | ||||
| 5.2 |
Collateral. |
5 | ||||
| 5.3 |
Litigation. |
5 | ||||
| 5.4 |
No Material Adverse Change in Financial Statements. |
5 | ||||
| 5.5 |
Solvency. |
5 | ||||
| 5.6 |
Regulatory Compliance. |
5 | ||||
| 5.7 |
Subsidiaries. |
6 | ||||
| 5.8 |
Full Disclosure. |
6 | ||||
|
6. |
AFFIRMATIVE COVENANTS |
6 | ||||
| 6.1 |
Government Compliance. |
6 | ||||
| 6.2 |
Financial Statements, Reports, Certificates. |
6 | ||||
| 6.3 |
Inventory; Returns. |
7 | ||||
| 6.4 |
Taxes. |
7 | ||||
| 6.5 |
Insurance. |
7 | ||||
| 6.6 |
Location of Inventory and Equipment. |
8 | ||||
| 6.7 |
Primary Accounts. |
8 | ||||
| 6.8 |
Financial Covenants. |
8 | ||||
| 6.9 |
SVB Accounts. |
8 | ||||
| 6.10 |
Intentionally Omitted. |
9 | ||||
| 6.11 |
Further Assurances. |
9 | ||||
i
|
7. |
NEGATIVE COVENANTS |
9 | ||||
| 7.1 |
Dispositions. |
9 | ||||
| 7.2 |
Changes in Business, Ownership, Management or Business Locations. |
9 | ||||
| 7.3 |
Mergers or Acquisitions. |
9 | ||||
| 7.4 |
Indebtedness. |
9 | ||||
| 7.5 |
Encumbrance. |
10 | ||||
| 7.6 |
Distributions; Investments. |
10 | ||||
| 7.7 |
Transactions with Affiliates. |
10 | ||||
| 7.8 |
Subordinated Debt. |
10 | ||||
| 7.9 |
Compliance. |
10 | ||||
|
8. |
EVENTS OF DEFAULT |
10 | ||||
| 8.1 |
Payment Default. |
10 | ||||
| 8.2 |
Covenant Default. |
11 | ||||
| 8.3 |
Material Adverse Change. |
11 | ||||
| 8.4 |
Attachment. |
11 | ||||
| 8.5 |
Insolvency. |
11 | ||||
| 8.6 |
Other Agreements. |
11 | ||||
| 8.7 |
Judgments. |
12 | ||||
| 8.8 |
Misrepresentations. |
12 | ||||
| 8.9 |
Change of Control. |
12 | ||||
|
9. |
BANKS RIGHTS AND REMEDIES |
12 | ||||
| 9.1 |
Rights and Remedies. |
12 | ||||
| 9.2 |
Power of Attorney. |
13 | ||||
| 9.3 |
Accounts Collection. |
13 | ||||
| 9.4 |
Bank Expenses. |
13 | ||||
| 9.5 |
Banks Liability for Collateral. |
14 | ||||
| 9.6 |
Remedies Cumulative. |
14 | ||||
| 9.7 |
Demand Waiver. |
14 | ||||
|
10. |
NOTICES |
14 | ||||
|
11. |
CHOICE OF LAW , VENUE AND JURY TRIAL WAIVER |
14 | ||||
|
12. |
GENERAL PROVISIONS |
15 | ||||
| 12.1 |
Successors and Assigns. |
15 | ||||
| 12.2 |
Indemnification. |
15 | ||||
| 12.3 |
Time of Essence. |
15 | ||||
| 12.4 |
Severability of Provision. |
15 | ||||
| 12.5 |
Amendments in Writing, Integration. |
15 | ||||
| 12.6 |
Counterparts. |
16 | ||||
| 12.7 |
Survival. |
16 | ||||
| 12.8 |
Confidentiality. |
16 | ||||
| 12.9 |
Attorneys Fees, Costs and Expenses. |
16 | ||||
ii
|
13. |
DEFINITIONS |
16 | ||||
| 13.1 |
Definitions.
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