EXHIBIT 10.16
SILICON VALLEY BANK
AMENDMENT TO LOAN DOCUMENTS
BORROWER: XXXXXXX INC. (FKA XXXXXXX INSTRUMENT COMPANY)
DATE: NOVEMBER 19, 2001
THIS AMENDMENT TO LOAN DOCUMENTS is entered into between SILICON VALLEY
BANK ("Silicon") and the borrower named above ("Borrower").
The Parties agree to amend the Loan and Security Agreement between them,
dated June 5, 1998, as 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. ADDITION OF CASH MANAGEMENT SUBLIMIT. A new Section 1.6 is hereby
added to the Loan Agreement and shall read as follows:
1.6 CASH MANAGEMENT SERVICES AND RESERVES. Borrower may use up to
$12,500 of Loans per week available hereunder for Silicon's Cash
Management Services (as defined below), including, merchant
services, business credit card, ACH and other services identified in
the cash management services agreement related to such service (the
"Cash Management Services"). Silicon may, in its sole discretion,
reserve against Loans which would otherwise be available hereunder
such sums as Silicon shall determine in connection with the Cash
Management Services, and Silicon may charge to Borrower's Loan
Account, any amounts that may become due or owing to Silicon in
connection with the Cash Management Services. Borrower agrees to
execute and deliver to Silicon all standard form applications and
agreements of Silicon in connection with the Cash Management
Services, and, without limiting any of the terms of such
applications and agreements, Borrower will pay all standard fees and
charges of Silicon in connection with the Cash Management Services.
The Cash Management Services shall terminate on the Maturity Date.
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
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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.
BORROWER: SILICON:
XXXXXXX INC. (FKA XXXXXXX SILICON VALLEY BANK
INSTRUMENT COMPANY)
By /s/ Xxxx Xxxxxx By /s/ Silicon Valley Bank
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President or Vice President Title SVP
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By /s/ Xxx Way
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Secretary or Ass't Secretary
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CONSENT
The undersigned acknowledge that their consent to the foregoing
Agreement is not required, but the undersigned nevertheless do hereby consent to
the foregoing Agreement and to the documents and agreements referred to therein
and to all future modifications and amendments thereto, and any termination
thereof, and to any and all other present and future documents and agreements
between or among the foregoing parties. Nothing herein shall in any way limit
any of the terms or provisions of the Continuing Guaranties of the undersigned,
all of which are hereby ratified and affirmed.
QIC HOLDING CORP.
By: /s/ Xxxx Xxxxxx
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Title: President
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