EXHIBIT 11
AMENDMENT NO. THIRTEEN TO THE LOAN
AND SECURITY AGREEMENT
CONCURRENT COMPUTER CORPORATION
This Amendment No. Thirteen To The Loan And Security Agreement (this
"Amendment") is entered into as of this 5th day of November, 1996, 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. The second paragraph of Section 2.8 of the Agreement, is hereby
amended in its entirety to read as follows: "Concurrent with the Permitted
Real Property Disposition of the Oceanport Real Property and as a condition
concurrent to the release of Foothill's lien upon the Oceanport Real Property,
Borrower shall prepay the Term Note by seventy-five percent (75%) of the net
cash proceeds of such Permitted Real Property Disposition, such repayment to
be applied as follows: (i)Eight Hundred Thirty Four Thousand Dollars
($834,000), to the installments due under the Term Loan in the order of their
maturity, and (ii) the remaining balance due under the Term Note in the
inverse order of their maturity."
2. Foothill shall charge Borrower's loan account a fee in the amount
of Fifteen Thousand Three Hundred Dollars ($15,300). 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
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Xxxx X. Xxxxxxxx Xxxxxx Xxxxxxxxxxx
Its Assistant Vice President Its Vice President & Treasurer
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