Exhibit 10.53
SILICON VALLEY BANK
AMENDMENT TO LOAN DOCUMENTS
BORROWER: PIVOTAL CORPORATION, A BRITISH COLUMBIA CORPORATION
("PARENT"); AND PIVOTAL CORPORATION, A WASHINGTON
CORPORATION ("PIVOTAL US")
ADDRESS: 000 XXXXXX XXXXXX, XXXXX 000
XXXXXXXXX, XXXXXXX XXXXXXXX, XXXXXX X0X 0X0
DATE: AS OF JANUARY 30, 2004
THIS AMENDMENT TO LOAN DOCUMENTS (THIS "AMENDMENT") is entered into between
SILICON VALLEY BANK ("Silicon"), whose main address is 0000 Xxxxxx Xxxxx, Xxxxx
Xxxxx, Xxxxxxxxxx 00000 (and with an office at 0000 Xxxxxxxx Xxxxx, Xxxxxxxx,
Xxxxxxxxxx 00000), and the borrower(s) named above (individually and
collectively, and jointly and severally, the "Borrower"), whose chief executive
office is located at the above address ("Borrower's Address").
Silicon and Borrower agree to amend the Loan and Security Agreement between
them, dated as of December 30, 2002 (as amended, restated, supplemented, or
otherwise modified from time to time, the "Loan Agreement") and any and all
documents, instruments and agreements relating thereto (collectively, the "Loan
Documents"), all as set forth herein. (Capitalized terms used but not defined in
this Amendment, shall have the meanings set forth in the Loan Agreement.)
1. AMENDMENT TO LOAN AGREEMENT.
(a) Section 4 of the Schedule to Loan Agreement, which currently reads:
4. MATURITY DATE
(Section 6.1): January 30, 2004.
, hereby is amended and restated in its entirety to read as follows:
4. MATURITY DATE
(Section 6.1): April 1, 2004.
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SILICON VALLEY BANK AMENDMENT TO LOAN DOCUMENTS
2. FEES. In consideration for Bank entering into this Amendment, Borrower shall
pay Bank a fee of $1,000 concurrently with the execution and delivery of this
Amendment, which fee shall be non-refundable and in addition to all interest and
other fees payable to Bank under the Loan Documents. Bank is authorized to
charge said fees to Borrower's loan account.
3. 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 in all material respects (except to the extent such
representations may be affected by transactions permitted by the Loan Agreement,
as amended hereby).
4. GENERAL PROVISIONS. This Amendment, the Loan Agreement, any prior written
amendments to the Loan Agreement signed by Silicon and Borrower, and the other
Loan Documents 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 Loan Documents 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 DOCUMENTS
5. COUNTERPARTS. This Amendment may be executed in any number of counterparts
and by different parties on separate counterparts, each of which, when executed
and delivered, shall be deemed to be an original, and all of which, when taken
together, shall constitute but one and the same document. Delivery of an
executed counterpart of this Amendment by telefacsimile shall be equally as
effective as delivery of an original executed counterpart of this Amendment.
Borrower: Silicon:
PIVOTAL CORPORATION, a SILICON VALLEY BANK
British Columbia corporation
By By
---------------------------------- ---------------------------------
President or Vice President
Title
By ---------------------------------
----------------------------------
Secretary or Ass't Secretary
PIVOTAL CORPORATION, a
Washington corporation
By
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President or Vice President
By
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Secretary or Ass't Secretary
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