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EXHIBIT 10.16
SILICON VALLEY BANK
AMENDMENT TO LOAN AGREEMENT
BORROWER: QLOGIC CORPORATION
ADDRESS: 0000 XXXXXX XXXXXXXXX, X.X. XXX 0000
XXXXX XXXX, XXXXXXXXXX 00000
Dated as of: July 6, 2000
THIS AMENDMENT TO LOAN AGREEMENT is entered into between SILICON VALLEY
BANK ("Silicon") and the borrower named above ("the borrower").
The parties agree to amend the Loan and Security Agreement between them,
dated March 31, 1994, as amended by that Amendment to Loan and Security
Agreement dated July 10, 1995, as amended by that Amendment to Loan and Security
agreement dated July 5, 1996, and as amended by that Amendment to Loan Agreement
dated as of July 6, 1998, and as amended by that Amendment to Loan Agreement
dated as of July 6, 1999, (as so amended and as otherwise amended from time to
time, 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. Amended Maturity Date. The section of the Schedule to the Loan Agreement
entitled "Maturity Date (Section 5.1)" is amended to read as follows:
"Maturity Date
(Section 5.1): JULY 5, 2001
2. Facility Fee. Borrower shall pay to Silicon concurrently herewith a
facility fee of $25,000, which shall be in addition to all interest and
all other fees payable to silicon and shall be non-refundable.
3. General Provisions. Borrower represents and warrants to Silicon that all
representations and warranties set forth in the Loan Agreement, as
amended hereby, are true and correct. This Amendment, the Loan
Agreement, any prior written amendments to the Loan between silicon and
the 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 term and provisions of the Loan Agreement,
and all other documents and agreements between silicon and the Borrower
shall continue in full force and effect and the same are hereby ratified
and confirmed.
QLogic CORPORATION SILICON VALLEY BANK
By /s/ XXXXXX X. XXXXXXXX By /s/ XXXXX XXXXXXX
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President or Vice President
By /s/ XXXXXXX XXXXXXX Title Sr. Vice President
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Secretary or Ass't Secretary
