Exhibiti 10.1
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Silicon Valley Bank
Amendment to Loan Documents
Borrower: Internap Network Services Corporation
Date: September 28, 2005
THIS AMENDMENT TO LOAN DOCUMENTS (this "Amendment") is entered into
between Silicon Valley Bank ("Silicon") and the borrower named above
("Borrower").
Silicon and Borrower agree to amend the Loan and Security Agreement
between them, dated October 21, 2002 (as otherwise amended, if at all, the "Loan
Agreement"), as follows, effective as of the date hereof. (Capitalized terms
used but not defined in this Amendment shall have the meanings set forth in the
Loan Agreement.)
1. Modification of $40 Million Requirement to $30 Million Requirement.
The definition of the "$40 Million Requirement" set forth in Section 1 of the
Amended and Restated Schedule to Loan and Security Agreement that currently
reads as follows:
provided that Loans under this subclause 1(a) shall only be
available to Borrower as long as Borrower maintains, at all
times, at least $40,000,000, in the aggregate, in accounts
maintained at Silicon, SVB Asset Management and SVB Securities
(including unrestricted cash, cash equivalents (excluding any
Revolving Loans under this Agreement), short term investments
and long term investments (provided, however, such long term
investments cannot exceed $5,000,000 in the aggregate for
purposes of this requirement)) (the "$40 Million
Requirement");
is hereby amended to read as follows:
provided that Loans under this subclause 1(a) shall only be
available to Borrower as long as Borrower maintains, at all
times, at least $30,000,000, in the aggregate, in accounts
maintained at Silicon, SVB Asset Management and SVB Securities
(including unrestricted cash, cash equivalents (excluding any
Revolving Loans under this Agreement), short term investments
and long term investments (provided, however, such long term
investments cannot exceed $5,000,000 in the aggregate for
purposes of this requirement)) (the "$30 Million
Requirement");
All references to the "$40 Million Requirement" in the Loan Agreement shall
hereinafter mean the "$30 Million Requirement."
2. Extension of Maturity Date with Respect to Revolving Loans. The
Maturity Date with respect to the Revolving Loans and related Obligations is
hereby amended from "September 29, 2005" to "December 28, 0000".
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Xxxxxxx Xxxxxx Xxxx Amendment to Loan Documents
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3. Fee. In consideration for Silicon entering into this Amendment,
Borrower shall concurrently pay Silicon a fee in the amount of $10,000, which
shall be non-refundable and in addition to all interest and other fees payable
to Silicon under the Loan Documents. Silicon is authorized to charge said fee to
Borrower's loan account.
4. Representations True. Borrower represents and warrants to Silicon
that all representations and warranties set forth in the Loan Agreement, as
amended hereby, are true and correct as of the date hereof.
5. General Provisions. This Amendment, the Loan Agreement, any prior
written amendments to the Loan Agreement signed by Silicon and Borrower, and the
other written documents and agreements between Silicon and Borrower set forth in
full all of the representations and agreements of the parties with respect to
the subject matter hereof and supersede all prior discussions, representations,
agreements and understandings between the parties with respect to the subject
hereof. Except as herein expressly amended, all of the terms and provisions of
the Loan Agreement, and all other documents and agreements between Silicon and
Borrower shall continue in full force and effect and the same are hereby
ratified and confirmed.
Borrower: Silicon:
INTERNAP NETWORK SERVICES CORPORATION SILICON VALLEY BANK
By /s/ Xxxxx X. Xxxxxx
President or Vice President By /s/ Xxxx Xxxxxxxx
Title: SVP
By -----------------------------
Secretary or Ass't Secretary
