Complies Sample Clauses
Complies. Maintain on a Quarterly Basis:
Complies. Maintain on a Monthly Basis:
Complies. (Section 6.6) Maintenance of operating and depository accounts with Lender Yes No All other affirmative covenants in Section 6 are satisfied. If No, provide information on separate page. Yes No
Complies. (Section 7.4) No Encumbrances Yes No All other negative covenants in Section 7 are satisfied. If No, provide information on separate page. Yes No
Complies. Unrestricted cash and cash equivalents (net of Credit Extensions) on Borrower’s balance sheet as set forth in the 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
Complies. Maintain at all times (unless otherwise noted): Minimum Cash Balances at Bank $4,000,000 $ Yes No 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 $1,000,000 Palo Alto, California VERSATA, INC. (“Borrower”), for value received, hereby promises to pay to the order of Venture Banking Group, a division of Greater Bay Bank N.A. (“Bank”), in lawful money of the United States of America, pursuant to that certain Loan and Security Agreement dated as of December 20, 2004, by and between Borrower and Bank (the “Loan Agreement”), (i) the principal amount of $1,000,000 or, if lesser, (ii) the principal amount of all Advances outstanding as of the Revolving Maturity Date. All unpaid amounts of principal and interest shall be due and payable in full on the Revolving Maturity Date. This Note is referred to in the Loan Agreement. All terms defined in the Loan Agreement shall have the same definitions when used herein, unless otherwise defined herein. Borrower further promises to pay interest on each Advance hereunder in like funds on the principal amount hereof from time to time outstanding from the date hereof until paid in full, at a rate or rates per annum and payable on the dates determined pursuant to the Loan Agreement. Payment on this Note shall be applied in the manner set forth in the Loan Agreement. The Loan Agreement contains provisions for acceleration of the maturity of Advances hereunder upon the occurrence of certain stated events and also provides for optional and mandatory prepayments of principal hereof prior to any stated maturity upon the terms and conditions therein specified. All Advances made by Bank to Borrower pursuant to the Loan Agreement shall be recorded by Bank on the books and records of Bank. The failure of Bank to record any Advance or any prepayment or payment made on account of the principal balance hereof shall not limit or otherwise affect the obligation of Borrower under this Note and under the Loan Agreement to pay the principal, interest and other amounts due and payable under the Advances. Any principal or interest payments on this Note not paid when due, whether at stated maturity, by acceleration or otherwise, shall bear interest at the Default Rate. Upon the occurrence of a default hereunder or an Event of Default under the Loan Agreement, all unpaid principal, accrued interest and other amou...
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
Complies. (Section 5.2) Any Amendment/Modifications to Charter Documents If Yes, attach copies. Yes No 1 To be included for Compliance Certificates delivered for the periods ending on March 31 and September 30, commencing September 30, 2024. (Section 5.4) Any Litigation If Yes, attach copies and summary Yes No (Section 5.9) Any Regulatory issues If Yes, attach copies and summary Yes No There have been no changes to the Schedule to Multi-Draw Term Loan and Security Agreement prepared on the Effective Date. If Yes, provide information on separate page. Yes No By: __________________________________ Name:________________________________ Title: ________________________________ FOR INTERNAL LENDER USE ONLY. Explain action taken with respect to Xxxxxxxx’s non-compliance with any of the above Covenants. __________________________________________________________________________________________________________________________________________________________________________________________. USActive 60786016.5 ANNEX A TO COMPLIANCE CERTIFICATE2