Exhibit 10.77
---------------------------------------------------------------------
SILICON VALLEY BANK
AMENDMENT TO LOAN DOCUMENTS
(EXIM PROGRAM)
BORROWER: VERSO TECHNOLOGIES, INC.
NACT TELECOMMUNICATIONS, INC.
XXXXXXXX.XXX SOFTWARE, INC.
DATE: APRIL 7, 2003
THIS AMENDMENT TO LOAN DOCUMENTS (EXIM PROGRAM) is entered into between
Silicon Valley Bank ("Silicon") and the borrower named above ("Borrower").
The Parties agree to amend the Loan and Security Agreement (Exim Program)
between them, dated February 12, 2003 (as otherwise 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. MODIFIED MAXIMUM CREDIT LIMIT. The Maximum Credit Limit set forth in
Section 1 of the Schedule to the Loan Agreement is hereby amended from
"$4,000,000" to "$6,000,000." The Overall Credit Limit shall remain at
$10,000,000.
2. FEE. In consideration for Silicon entering into this Amendment,
Borrower shall pay Silicon a fee in the amount of $40,000, which shall be
non-refundable and in addition to all interest and other fees payable to Silicon
under the Loan Documents. Silicon is authorized to charge said fee to Xxxxxxxx's
loan account.
3. 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.
4. 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 representations and agreements of the parties with respect to
the subject matter hereof and supersede all prior discussions, representations,
agreements and understandings between the
-1-
SILICON VALLEY BANK AMENDMENT TO LOAN DOCUMENTS (EXIM)
---------------------------------------------------------------------
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:
VERSO TECHNOLOGIES, INC. SILICON VALLEY BANK
BY /s/ Xxxxxx X. Xxxxxxx BY /s/ Xxxxx Xxxxxx
------------------------------ ----------------------------
VICE PRESIDENT TITLE SVP
-------------------------
BY /s/ Xxxxx Xxxx
------------------------------
SECRETARY OR ASS'T SECRETARY
BORROWER: BORROWER:
NACT TELECOMMUNICATIONS, INC. XXXXXXXX.XXX SOFTWARE, INC.
BY /s/ Xxxxxx X. Xxxxxxx BY /s/ Xxxxxx X. Xxxxxxx
------------------------------ ------------------------------
VICE PRESIDENT PRESIDENT OR VICE PRESIDENT
BY /s/ Xxxxx Xxxx BY /s/ Xxxxx Xxxx
------------------------------ ------------------------------
SECRETARY OR ASS'T SECRETARY SECRETARY OR ASS'T SECRETARY
-2-
