CONSENT AND AMENDMENT NO. 3 TO LOAN AND SECURITY AGREEMENTPacket Island Merger Agreement • March 15th, 2010 • Broadsoft Inc • New York
This CONSENT AND AMENDMENT NO. 3 TO LOAN AND SECURITY AGREEMENT (“Amendment”) is dated as of October 15, 2009, and is entered into by and among BroadSoft, Inc., a Delaware corporation (“Parent”), BroadSoft International, Inc” a Delaware corporation (“International”), BroadSoft M6, LLC, a Delaware limited liability company (“M6”), BroadSoft Sylantro, Inc., a Delaware corporation (“Sylantro”; and together with Parent, International and M6, the “Existing Borrowers”, and each an “Existing Borrower”), BroadSoft PacketSmart, Inc., a Delaware corporation (“PacketSmart”; and together with Parent, International, M6, and Sylantro, the “Borrowers”, and each a “Borrower”), and ORIX Venture Finance, LLC, a Delaware limited liability company (“Lender”). As described below, it is anticipated that PacketSmart will merge with PacketIsland, Inc., a Delaware corporation (“Packet Island”), with Packet Island surviving the merger and, effective upon the consummation of such merger, changing its name to Bro
