Complies. Maintain on a Monthly Basis (unless otherwise noted): Minimum Quick Ratio (Adjusted) * :1.00 Yes No Profitability (Quarterly) $ 1.00 ** Yes No * A ratio of cash and cash equivalents plus accounts receivables divided by Current Liabilities minus Deferred Revenue of at least (i) 1.50 to 1.00 for the months ending April 30, 2004; May 31, 2004, June 30, 2004 and July 31, 2004; (ii) 1.75 to 1.00 for the months ending August 31, 2004, September 30, 2004, October 31, 2004 and November 30, 2004 and (iii) 2.00 to 1.00 for the months ending December 31, 2004 and thereafter. ** Borrower may suffer a loss not to exceed $500,000 for quarter ending June 30, 2004. Borrower only has deposit accounts located at the following institutions: . Comments Regarding Exceptions: See Attached. Sincerely, Pharsight Corporation SIGNATURE TITLE DATE BANK USE ONLY Received by: AUTHORIZED SIGNER Date: Verified: AUTHORIZED SIGNER Date: Compliance Status: Yes No SILICON VALLEY BANK PRO FORMA INVOICE FOR LOAN CHARGES BORROWER: Pharsight Corporation LOAN OFFICER: Xxx Xxxxxxx DATE: May 17, 2004 Revolving Loan Fee $ 10,500.00 Credit Report 35.00 UCC Search Fee 300.00 UCC Filing Fee 100.00 Documentation Fee 1,500.00 Less Good Faith Deposit: (10,000.00 ) TOTAL FEE DUE $ 2,435.00 Please indicate the method of payment: { } A check for the total amount is attached. { } Debit DDA # for the total amount. { } Loan proceeds Borrower: By: (Authorized Signer) Silicon Valley Bank (Date) Account Officer’s Signature CORPORATE BORROWING RESOLUTION Borrower: Pharsight Corporation Bank: Silicon Valley Bank 800 West El Camino Real, Suite 200 3003 Tasman Drive Mountain View, CA 94040 Saxxx Xxxxx, XX 00000-0000 I, the Secretary or Assistant Secretary of Pharsight Corporation (“Borrower”), CERTIFY that Borrower is a corporation existing under the laws of the State of Delaware. I certify that at a meeting of Borrower’s Directors (or by other authorized corporate action) duly held the following resolutions were adopted. It is resolved that any one of the following officers of Borrower, whose name, title and signature is below: NAMES POSITIONS ACTUAL SIGNATURES Xxxxxxx Xxxxxxxx SVP & CFO /s/ Xxxxxxx Xxxxxxxx may act for Borrower and: Borrow Money. Borrow money from Silicon Valley Bank (“Bank”). Execute Loan Documents. Execute any loan documents Bank requires.
Complies. Maintain at all times: Cash and cash equivalents (net of Credit Extensions) $ 10,000,000 $ Yes No Comments Regarding Exceptions: See Attached. Sincerely, SABA SOFTWARE, INC. BANK USE ONLY Received by: SIGNATURE AUTHORIZED SIGNER Date: Verified: TITLE AUTHORIZED SIGNER Date: DATE Compliance Status: Yes No EXHIBIT E FORM OF LOAN AGREEMENT SUPPLEMENT LOAN AGREEMENT SUPPLEMENT No. [ ] LOAN AGREEMENT SUPPLEMENT No. [ ], dated , 200 (“Supplement”), to the Amended and Restated Loan and Security Agreement dated October 31, 2003 (the “Loan Agreement), by and between the undersigned (“Borrower”) and Silicon Valley Bank (“Bank”). Capitalized terms used herein but not otherwise defined herein are used with the respective meanings given to such terms in the Loan Agreement. To secure the prompt payment by Borrower of all amounts from time to time outstanding under the Loan Agreement, and the performance by Borrower of all the terms contained in the Loan Agreement, Borrower grants Bank, a first priority security interest in each item of equipment and other property described in Annex A hereto, which equipment and other property shall be deemed to be additional Financed Equipment and Collateral. The Loan Agreement is hereby incorporated by reference herein and is hereby ratified, approved and confirmed. Annex A (Equipment Schedule) and Annex B (Loan Terms Schedule) are attached hereto. The proceeds of the Loan should be transferred to Borrower’s account with Bank set forth below: Bank Name: Silicon Valley Bank Account No.: Borrower hereby certifies that (a) the foregoing information is true and correct and authorizes Bank to endorse in its respective books and records, the Option 4 Basic Rate applicable to the Funding Date of the Option 4 Loan contemplated in this Loan Agreement Supplement and the principal amount set forth in the Loan Terms Schedule; (b) the representations and warranties made by Borrower in the Loan Agreement are true and correct in all material respects on the date hereof and will be true and correct in all material respects on such Funding Date; and (c) it is in compliance with Section 6.8 of the Loan Agreement. No Event of Default has occurred and is continuing under the Loan Agreement. This Supplement may be executed by Borrower and Bank in separate counterparts, each of which when so executed and delivered shall be an original, but all such counterparts shall together constitute but one and the same instrument. This Supplement is delivered as of th...
Complies. Unrestricted cash and cash equivalents (net of Credit Extensions) on Borrower’s balance sheet as set forth in the Table 1. Table 1.
Complies. Total Amount of Borrower’s Cash and Investments at S1B All Cash and Investments at S1B? YES NO If no, total amount of Borrower’s Cash and Investments outside of S1B Location of Cash & Investments outside of S1B Total amount of Borrower’s Cash and Investments
Complies. Annual operating budgets (including income statements, balance sheets, and cash flow statements, each of the foregoing, by month) for the upcoming fiscal year 30 days prior to FYE Yes No N/A Annual financial statements certified by, and with an unqualified opinion of, independent CPA Annually, within 120 days after FYE Yes No N/A Financial Covenant Actual
Complies. Maintain on a Quarterly Basis: Minimum Liquidity $ * $ Yes No * Greater of 2 × Quarter's Cash Burn or 1.5 × Term Loan balance Comments Regarding Exceptions: See Attached. BANK USE ONLY Sincerely, Received by: AUTHORIZED SIGNER Isis Pharmaceuticals, Inc. SIGNATURE Date: Verified: AUTHORIZED SIGNER TITLE Date: DATE Compliance Status: Yes No CORPORATE BORROWING RESOLUTION Borrower: Isis Pharmaceuticals, Inc. 0000 Xxxxxxx Xxxxxx Xxxxxxxx, XX 00000 Bank: Silicon Valley Bank 0000 Xxxxxx Xxxxx Xxxxx Xxxxx, XX 00000-0000 I, the Secretary or Assistant Secretary of ISIS PHARMACEUTICALS, INC. ("Borrower"), CERTIFY that Borrower is a corporation existing under the laws of the State of Delaware. I certify that at a meeting of Borrower's Directors (or by other authorized corporate action) duly held the following resolutions were adopted. It is resolved that any one of the following officers of Borrower, whose name, title and signature is below: NAMES POSITIONS ACTUAL SIGNATURES may act for Borrower and: Borrow Money. Borrow money from Silicon Valley Bank ("Bank"). Execute Loan Documents. Execute any loan documents Bank requires.
Complies. Maintain on a Monthly Basis (unless otherwise specified):
Complies. Yes No Mowers have 4 wheels over dual beam axles for lighter mowers as xxxx.xx this. Uses “xxxxx Jumpers.” Specifications for an 8’, Tow-Type, Rotary Mower The hub spindles shall be replaceable without replacing entire axle assembly. Complies: Yes No The wheel hubs shall be a heavy duty five (5) bolt design for durability and include a grease zerk for routine maintenance. Complies: Yes No
Complies. Maintain on a quarterly Basis or monthly if QR below 2.0:1.0: Minimum Quick Ratio 1.50:1.00 :1.00 Yes No Minimum Tangible Net Worth $20,000,000, Plus 75% of Net Income, Plus 50% of Net Cash Equity $ Yes No Have there been updates to Borrower's intellectual property, if appropriate? Yes / No Comments Regarding Exceptions: See Attached. BANK USE ONLY Sincerely, Received by: AUTHORIZED SIGNER SIGNATURE Date: Verified: AUTHORIZED SIGNER TITLE Date: DATE: Compliance Status: Yes No Exhibit 10.20
Complies. Maintain on a Quarterly Basis: Minimum Quick Ratio 2.00:1.00 :1.00 Yes No Minimum Tangible Net Worth $75,000,000 $ Yes No Borrower only has deposit accounts located at the following institutions: . Comments Regarding Exceptions: See Attached. Sincerely, PortalPlayer, Inc. SIGNATURE TITLE DATE BANK USE ONLY Received by: AUTHORIZED SIGNER Date: Verified: AUTHORIZED SIGNER Date: Compliance Status: Yes No Schedule to Loan and Security Agreement The exact correct corporate name of Borrower is (attach a copy of the formation documents, e.g., articles, partnership agreement): PortalPlayer, Inc. Borrower’s State of formation: California/Delaware Borrower has operated under only the following other names (if none, so state): None All other addresses at which the Borrower does business are as follows (attach additional sheets if necessary and include all warehouse addresses): Borrower has deposit accounts and/or investment accounts located only at the following institutions: List Acct. Numbers: See attached Liens existing on the Closing Date and disclosed to and accepted by Bank in writing: No Change Investments existing on the Closing Date and disclosed to and accepted by Bank in writing: Capital Advisor’s Group and Silicon Valley Management Subordinated Debt: Indebtedness on the Closing Date and disclosed to and consented to by Bank in writing: No change The following is a list of the Borrower’s copyrights (including copyrights of software) which are registered with the United States Copyright Office. (Please include name of the copyright and registration number and attach a copy of the registration): No change The following is a list of all software which the Borrower sells, distributes or licenses to others, which is not registered with the United States Copyright Office. (Please include versions which are not registered: No change The following is a list of all of the Borrower’s patents which are registered with the United States Patent Office. (Please include name of the patent and registration number and attach a copy of the registration.): Attached The following is a list of all of the Borrower’s patents which are pending with the United States Patent Office. (Please include name of the patent and a copy of the application.): Attached The following is a list of all of the Borrower’s registered trademarks. (Please include name of the trademark and a copy of the registration.): No change Borrower is not subject to litigation which would have a material adverse...
