CONCURRENT COMPUTER CORPORATION
EXHIBIT 10
AMENDMENT NO. FOURTEEN TO THE
LOAN AND SECURITY AGREEMENT
CONCURRENT COMPUTER CORPORATION
This Amendment No. Fourteen To The Loan And Security Agreement (this
"Amendment") is entered into as of this 15th day of January, 1997, by and
between CONCURRENT COMPUTER CORPORATION, a Delaware corporation ("Borrower"),
with its chief executive office located at 0000 X. Xxxxxxx Xxxxx Xxxx, Xxxx
Xxxxxxxxxx, Xxxxxxx 00000 and FOOTHILL CAPITAL CORPORATION, a California
corporation ("Foothill"), with a place of business located at 00000 Xxxxx
Xxxxxx Xxxxxxxxx, Xxxxx 0000, Xxx Xxxxxxx, Xxxxxxxxxx 00000-0000, in light of
the following facts:
FACTS
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FACT ONE: Foothill and Borrower have previously entered into that
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certain Loan And Security Agreement, dated as of June 29, 1995 (as amended and
supplemented, the "Agreement").
FACT TWO: Foothill and Borrower desires to further amend the
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Agreement as provided herein. Terms defined in the Agreement which are used
herein shall have the same meanings as set forth in the Agreement, unless
otherwise specified.
NOW, THEREFORE, Foothill and Borrower hereby modify and amend the
Agreement as follows:
1. Subsection (g) of the Definition "Eligible Accounts" under Section
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1.1 of the Agreement, is hereby amended in its entirety to read as follows:
"(g) Accounts with respect to an Account Debtor whose total obligations owing
to Borrower exceed ten percent (10%) of all Eligible Accounts, to the extent
of the obligations owing by such Account Debtor in excess of such percentage,
and with respect to Lockheed Xxxxxx Xxxxxxxx Corp. whose total obligations
owing to Borrower exceed thirty-five percent (35%); provided, however that
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accounts owed by the Illinois Department of Public Aid, Loral, Airinc, Boeing
Co., Grumman Aircraft, Xxxxxx Aircraft, Xxxxxx Training Inc., ABB Combustion
Engineering, and other accounts that may be approved from time to time by
Foothill may be eligible up to a maximum, per Account Debtor, of fifteen
percent (15%) of all Eligible Accounts, so long as they are otherwise eligible
hereunder;".
2. Foothill shall charge Borrower's loan account a fee in the amount of
Five Hundred Dollars ($500.00). Said fee shall be fully-earned,
non-refundable, and due and payable on the date Borrower's loan account is
charged.
3. In the event of a conflict between the terms and provisions of
this Amendment and the terms and provisions of the Agreement, the terms and
provisions of this Amendment shall govern. In all other respects, the
Agreement, as supplemented, amended and modified, shall remain in full force
and effect.
IN WITNESS WHEREOF, Borrower and Foothill have executed this Amendment as of
the day and year first written above.
FOOTHILL CAPITAL CORPORATION CONCURRENT COMPUTER CORPORATION
By /S/ Xxxx X. Xxxxxxxx By /S/ Xxxxxx Xxxxxxxxxxx
Xxxx X. Xxxxxxxx Xxxxxx Xxxxxxxxxxx
Its Assistant Vice President Its Vice President & Treasurer
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