LAS VEGAS GAMING INC - FORM 10-K - EX-10.34 - EX1034 - May 12, 2010

Attached files

file filename
10-K - MAINBODY - LAS VEGAS GAMING INCmainbody.htm
EX-31.1 - EX311 - LAS VEGAS GAMING INCex311.htm
EX-32.1 - EX321 - LAS VEGAS GAMING INCex321.htm
EX-21.1 - EX211 - LAS VEGAS GAMING INCex211.htm
EX-31.2 - EX312 - LAS VEGAS GAMING INCex312.htm
EX-10.47 - EX1047 - LAS VEGAS GAMING INCex1047.htm
EX-10.38 - EX1038 - LAS VEGAS GAMING INCex1038.htm
EX-10.43 - EX1043 - LAS VEGAS GAMING INCex1043.htm
EX-10.35 - EX1035 - LAS VEGAS GAMING INCex1035.htm
EX-10.44 - EX1044 - LAS VEGAS GAMING INCex1044.htm
EX-10.46 - EX1046 - LAS VEGAS GAMING INCex1046.htm
EX-10.33 - EX1033 - LAS VEGAS GAMING INCex1033.htm
EX-10.45 - EX1045 - LAS VEGAS GAMING INCex1045.htm

PATENT SECURITY AGREEMENT
 
This Patent Security Agreement (this “Agreement”), is dated as of May 22, 2009, by LAS VEGAS GAMING, INC., a Nevada corporation (the “Grantor”), in favor of IGT, a Nevada corporation (the “Lender”).
 
W I T N E S S E T H
 
WHEREAS, the Grantor is party to a certain IGT-LVGI Binding Term Sheet dated on or about February 13, 2009 (as it may be amended, restated, supplemented or otherwise modified from time to time, the “Advance Term Sheet”) between the Grantor and the Lender, pursuant to which the Lender advanced certain sums to Grantor, and the Grantor granted the Lender a security interest in all of the Grantor’s present and future assets.  Under the Advance Term Sheet, the Grantor is required to execute and deliver this Agreement;
 
NOW, THEREFORE, in consideration of the premises and in connection with the Advance Term Sheet, the Grantor hereby agrees with the Lender as follows:
 
SECTION 1. Grant of Security Interest in Patent Collateral.  The Grantor hereby pledges and grants to the Lender for the benefit of the Lender and any affiliate of the Lender, a continuing lien on and continuing security interest in and to all of the Grantor’s right, title and interest in, to and under all the following collateral of such Grantor:
 
(a) patents of Grantor listed on Schedule I attached hereto;
 
(b) all goodwill associated with such patents; and
 
(c) all proceeds of any and all of the foregoing.
 
SECTION 2. Security Agreement.  The security interest granted pursuant to this Agreement is granted in conjunction with the security interest granted to the Lender pursuant to the Advance Term Sheet and that certain Security Agreement dated the date of this Agreement between the Grantor and the Lender, the terms and provisions of which are incorporated by reference herein as if fully set forth herein.
 
SECTION 3. Termination.  Upon the release of the Lender’s security interest in any patents, the Lender shall execute, acknowledge, and deliver to the Grantor an instrument in writing in recordable form releasing the collateral pledge, grant, assignment, lien and security interest in such patents under this Agreement.
 
SECTION 4. Counterparts.  This Agreement may be executed in any number of counterparts, all of which shall constitute one and the same instrument, and any party hereto may execute this Agreement by signing and delivering one or more counterparts.  Delivery of an executed counterpart by facsimile or other electronic means shall be effective as delivery of a manually executed counterpart of this Agreement.
 
 
[signature page follows]

 
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IN WITNESS WHEREOF, Grantor has caused this Agreement to be executed and delivered by its duly authorized officer as of the date first set forth above.
 
 
LAS VEGAS GAMING, INC.
 
By:   /s/  Bruce Shepard                        
Name:    Bruce Shepard
Title:      Chief Financial Officer
 
ACCEPTED AND AGREED:
 
 
IGT
 
By: /s/  Ken Creighton                                        
Name:   Ken Creighton
Title:     Assistant Secretary and
              V.P. Corporate Legal
 

 
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SCHEDULE I TO PATENT SECURITY AGREEMENT
 
i.           Patents
 
 
1.           U.S. Patents
 
 
PATENT NUMBER
DATE OF PATENT
TITLE
1)
6,059,659
MAY 9, 2000
ROULETTE TABLE HAVING PROGRESSIVE JACKPOTS
2)
7,335,106 B2
FEBRUARY 26, 2008
CLOSED-LOOP SYSTEM FOR DISPLAYING PROMOTIONAL EVENTS AND GRANTING AWARDS FOR ELECTRONIC VIDEO GAMES
3)
7,258,608 B2
AUGUST 21, 2007
KENO GAME WITH EXTRA CHANCES
4)
6,722,978 B2
APRIL 20, 2004
METHOD OF PLAYING A LINKED NUMERICAL GAME OF CHANCE WITH A BONUS AND PARLAY WAGERING OPTION
 
2.           U.S. Patent Applications
 
 
PATENT APPLICATION NUMBER
TITLE
1)
11/469,108
METHODS AND APPARATUS FOR INTERACTING WITH PLAYERS OF VIDEO MACHINES
2)
11/468,946
CLOSED-LOOP SYSTEM FOR PROVIDING ADDITIONAL EVENT PARTICIPATION TO ELECTRONIC VIDEO GAME CUSTOMERS
3)
11/686,755
AUTOMATIC FUNDING OF PARAGAMES ON ELECTRONIC GAMING PLATFORM
4)
11/968,633
ENHANCED VIDEO GAMING MACHINE
5)
11/897,533
Method and system for paragame activity at electronic gaming machine
6)
11/897,532
Method and apparatus for providing secondary gaming machine functionality
7)
11/847,062
SYSTEM TO DECODE VIDEO SIGNAL FROM ELECTRONIC GAMING DEVICE AND TO DETERMINE PLAY INFORMATION
 
 
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3.           International Patents/Applications
 
 
COUNTRY PATENT/APPLICATION NUMBER
TITLE
1)
WO 1997/046293
ROULETTE TABLE HAVING PROGRESSIVE JACKPOTS
2)
WO 2005/043285
CLOSED-LOOP SYSTEM FOR DISPLAYING PROMOTIONAL EVENTS AND GRANTING AWARDS FOR ELECTRONIC VIDEO GAMES
3)
WO 2007/035388
METHODS AND APPARATUS FOR INTERACTING WITH PLAYERS OF VIDEO MACHINES
4)
WO 2008/027062
CLOSED-LOOP SYSTEM FOR PROVIDING ADDITIONAL EVENT PARTICIPATION TO ELECTRONIC VIDEO GAME CUSTOMERS
5)
WO 2008/027443
METHOD AND SYSTEM FOR PARAGAME ACTIVITY AT ELECTRONIC GAMING MACHINE
6)
WO 2008/027444
METHOD AND APPARATUS FOR PROVIDING SECONDARY GAMING MACHINE FUNCTIONALITY
7)
WO 2009/029101
SYSTEM TO DECODE VIDEO SIGNAL FROM ELECTRONIC GAMING DEVICE AND TO DETERMINE PLAY INFORMATION


 
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