Complies Sample Clauses

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...
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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
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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.
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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.
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Complies. Maintain on a Quarterly Basis: Minimum Unrestricted Cash $25,000,000 $ Yes No Total Liabilities / Tangible Net Worth 0.50 : 1.00 : 1.00 Yes No Net Loss; Profitability * $ Yes No * Borrower shall not suffer a quarterly net loss in excess of (i) Three Million Dollars ($3,000,000) for the fiscal quarter ending on December 31, 2003; (ii) Three Million Dollars ($3,000,000) for the fiscal quarter ending on March 31, 2004; (iii) Two Million Seven Hundred and Fifty Thousand Dollars ($2,750,000) for the fiscal quarter ending on June 30, 2004; and (iv) Two Million Five Hundred Thousand Dollars ($2,500,000) for the fiscal quarter ending on September 30, 2004. Borrower shall show a net profit of at least $1.00 for the fiscal quarter ending on December 31, 2004 and for each quarter thereafter. Comments Regarding Exceptions: See Attached. BANK USE ONLY Received by: Sincerely, AUTHORIZED SIGNER Date: Verified: SIGNATURE AUTHORIZED SIGNER Date: TITLE Compliance Status Yes No DATE
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Complies. Maintain on a Quarterly Basis: Minimum Quick Ratio (beginning 12/31/02) 1.35:1.00 :1.00 Yes No Minimum Cash to Bank Debt (through 9/30/02; monitored monthly) 2.00:1.00 :1.00 Yes No Minimum Tangible Net Worth (through 9/30/02; monitored monthly) $ 48,000,000 $ Yes No Fixed Charge Coverage Ratio 2.00:1.00 Comments Regarding Exceptions: See Attached. BANK USE ONLY Received by: AUTHORIZED SIGNER Sincerely, Date: SIGNATURE Verified: AUTHORIZED SIGNER TITLE Date: Compliance Status Yes No DATE
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Complies. Tangible Net Worth is Minimum Tangible Net Worth from table plus 50% of any increase in shareholders’ equity resulting from the issuance of equity securities of Borrower pursuant to any public or private offering after the Original Closing Date and the principal amount of Subordinated Debt Period Minimum Tangible Net Worth February 2004 $28,400,000 $ Yes No March 2004 $32,400,000 April 2004 $26,900,000 May 2004 $22,300,000 June 2004 $27,800,000 July 2004 $22,100,000 August 2004 $18,200,000 September 2004 $25,700,000 October 2004 $21,000,000 November 2004 $17,400,000 December 2004 $26,500,000 January/February 2005 $21,000,000 March 200 5 $29,000,000 April/May 2005 $21,000,000 June 2005 $29,000,000 Increases in the Minimum Tangible Net Worth covenant based on consideration received for equity securities of Borrower and Subordinated Debt shall be effective as of the end of the month in which such consideration is received, and shall continue effective thereafter. First Reset Conditions On each date that is the last day of each month, Borrower shall maintain a Tangible Net Worth of not less than $15,000,000 plus 50% of any increase in shareholders’ equity resulting from the issuance of equity securities of Borrower pursuant to any public or private offering after the Original Closing Date and the principal amount of Subordinated Debt. $ Yes No Second Reset Conditions None Comments Regarding Exceptions: See Attached. Sincerely, BANK USE ONLY Redback Networks Inc. Received by:_____________________________ By: AUTHORIZED SIGNER Name: Date:___________________________________ Title: Chief Financial Officer Verified:_________________________________ AUTHORIZED SIGNER Date:___________________________________ Compliance Status: Yes No Exhibit B [SVB letterhead] To: Re: Redback Networks, Inc. (the “Borrower”) Ladies and Gentlemen: Pursuant to the terms of a Loan and Security Agreement between us and the Borrower dated March 10, 2004 (the “Loan Agreement”), we act as the lender for the Borrower and have been granted a security interest in all of its inventory and other personal property assets (collectively, the “Collateral”). We understand that from time to time Collateral is delivered to you for storage, processing and/or other purposes. This letter constitutes notice to you of our security interest in the Collateral. Until you are notified to the contrary, however, you may continue to accept instructions from the Borrower regarding the Collateral. This will confirm y...
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