Summary of NMT MEDICAL INC

Entry into a Material Definitive Agreement, Creation of a Direct Financial Obliga

Item 1.01. Entry into a Material Definitive Agreement

On June 26, 2009, NMT Medical, Inc. (the "Registrant") entered into a Loan and Security Agreement (the "Agreement") among the Registrant, NMT Heart, Inc. (together with the Registrant, individually and collectively, jointly and severally the "Borrower"), and Silicon Valley Bank (the "Lender").

The following summary description of the Agreement does not purport to be complete and is qualified in its entirety by reference to the Agreement which is attached as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated herein by reference.

The Agreement provides for a $4 million revolving credit facility ("Revolving Line"). Up to $500,000 of the Revolving Line may be used to secure letters of credit, foreign exchange contracts and cash management services of the calendar month following the advance under the Agreement. The Revolving Line may be used by the Borrower to finance the Borrower's working capital needs and matures on June 25, 2011 (the "Maturity Date").

The principal amount outstanding under the Revolving Line made pursuant to the Agreement will accrue interest at a floating per annum rate equal to the Lender's prime rate plus two and one-half percentage points (2.50%) (the "Floating Rate"), but in no event less than 6.5%, with such interest to be paid monthly, in arrears, and any unpaid principal to be due and payable on the Maturity Date. In addition, the Borrower will pay .5% per annum to the Lender for any amount not advanced under the line, payable monthly. In the event of and during the continuance of an Event of Default (as defined in the Agreement) any Obligations (as defined in the Agreement) not paid when due under the Agreement, will bear interest at a rate per annum equal to 5% plus the Floating Rate.

The Agreement also contains representations and warranties and affirmative and negative covenants by the Borrower, including with respect to the Borrower's liquidity and tangible net worth, and by the Lender. Also, the Borrower has certain reporting obligations to the Lender under the Agreement.

The Agreement provides for certain events of default by the Borrower, including payment default or covenant Default by the Borrower, Material Adverse Change (as defined in the Agreement), default by the Borrower of a material agreement with a third party resulting in the acceleration of indebtedness in excess of $100,000, and other customary events of default.

In the event of a default by the Borrower, the Lender may, among other rights and remedies, declare all obligations under the Agreement immediately due and payable, terminate the Lender's commitments to make loans under the Agreement, and enforce any and all rights of the Lender under the Agreement and related documents. For certain events of default related to bankruptcy, the commitments of Lender will be automatically terminated and all outstanding obligations of Borrower will become immediately due and payable.

The Borrower is required to pay the Lender a $50,000 per annum commitment fee. Also, the obligations of the Borrower under the Agreement and related loan documents are secured by certain collateral set forth on Exhibit A to the Agreement.