Exhibit 10.24
SILICON VALLEY BANK
AMENDMENT TO LOAN DOCUMENTS
(EXIM PROGRAM)
BORROWER: ONYX SOFTWARE CORPORATION
DATE: JANUARY 12, 2004
THIS AMENDMENT TO LOAN DOCUMENTS (EXIM PROGRAM) is entered into between
Silicon Valley Bank ("Silicon") and the borrower named above ("Borrower").
The Parties agree to amend the Loan and Security Agreement (Exim
Program) between them, dated May 5, 2003 (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. MODIFIED ADVANCE RATE. Subclause (ii) of the Credit Limit set
forth in Section 1 of the Schedule to Loan and Security Agreement (Exim Program)
that currently reads as follows:
(ii) 80% of the amount of Borrower's Eligible Receivables
(as defined in Section 8 above).
is hereby amended to read as follows:
(ii) 75% of the amount of Borrower's Eligible Receivables
(as defined in Section 8 above).
2. 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.
3. 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.
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SILICON VALLEY BANK AMENDMENT TO LOAN AGREEMENT (EXIM)
BORROWER: SILICON:
ONYX SOFTWARE CORPORATION SILICON VALLEY BANK
BY /s/ XXXXX X XXXX BY /s/ XXXXX XXXXXXXX
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TREASURER TITLE PORTFOLIO MGR.
BY /s/ XXXX X. XXXXXX
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SECRETARY OR ASS'T SECRETARY
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