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EXHIBIT 10.16.2
SILICON VALLEY BANK
AMENDMENT TO LOAN AGREEMENT
BORROWER: QLOGIC CORPORATION
ADDRESS: 00000 XXXXXX XXXXX XXXXX
XXXXX XXXXX, XXXXXXXXXX 00000
DATED AS OF: JULY 5, 2001
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, as amended by that Amendment to Loan Agreement
dated as of July 6, 1998, as amended by that Amendment to Loan Agreement dated
as of July 6, 1999 and as amended by that Amendment to Loan Agreement dated as
of July 6, 2000 (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, 2002.
2. MODIFIED ADDRESS. The address of the Borrower as referenced in the
Loan Agreement is hereby modified to be the address of the Borrower as is set
forth in the heading to this Amendment.
3. MODIFICATION TO FINANCIAL COVENANTS. The section of the Schedule
to the Loan Agreement entitled "Financial Covenants (Section 4.1)" is hereby
amended to delete the financial covenant "Debt to Tangible Net Worth."
Accordingly, such identified financial covenant shall no longer be of any
further force or effect as of the date hereof, provided that all other remaining
financial covenants shall remain in full force and effect.
4. 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.
5. 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 may be executed in any
number of counterparts, all of which together shall constitute one and the same
agreement. This Amendment, the Loan Agreement, any prior written amendments to
the Loan Agreement signed by Silicon and the Borrower, and the other written
documents and agreements 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 terms 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 BY
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PRESIDENT OR VICE PRESIDENT
TITLE
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BY
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SECRETARY OR ASS'T SECRETARY
