EXHIBIT 10.13
-------------
LOAN MODIFICATION AGREEMENT
This Loan Modification Agreement is entered into as of March 26, 1999, by
and between Data Critical Corp. ("Borrower") and Silicon Valley Bank ("Lender").
1. DESCRIPTION OF EXISTING INDEBTEDNESS: Among other indebtedness which may
------------------------------------
be owing by Borrower to Lender, Borrower is indebted to Lender pursuant to,
among other documents, a Promissory Note, dated April 10, 1997, in the original
principal amount of Five Hundred Thousand and 00/100 Dollars ($500,000.00). The
Line has been modified pursuant to, among other documents, a Loan Modification
Agreement, dated February 12, 1999, pursuant to which, among other things, the
principal amount was increased to One Million Five Hundred Thousand and 00/100
Dollars ($1,500,000.00). The Note, together with other promissory notes from
Borrower to Lender, are governed by the terms of a Business Loan Agreement,
dated April 10, 1997, as such agreement may be amended from time to time,
between Borrower and Lender (the "Loan Agreement"). Defined terms used but not
otherwise defined herein shall have the same meanings as in the Loan Agreement.
Hereinafter, all indebtedness owing by Borrower to Lender shall be referred to
as the "Indebtedness".
2. DESCRIPTION OF COLLATERAL AND GUARANTIES. Repayment of the Indebtedness is
----------------------------------------
secured by a Commercial Security Agreement, dated April 10, 1997, and an
Intellectual Property Security Agreement dated April 10, 1997.
Hereinafter, the above-described security documents and guaranties, together
with all other documents securing repayment of the Indebtedness shall be
referred to as the "Security Documents". Hereinafter, the Security Documents,
together with all other documents evidencing or securing the Indebtedness shall
be referred to as the "Existing Loan Documents".
3. DESCRIPTION OF CHANGE IN TERMS.
------------------------------
A. Modification(s) to the Note.
----------------------------
1. Payable in one payment of all outstanding principal plus all
accrued unpaid interest on April 8, 2000. In addition, Borrower
will pay regular monthly payments of all accrued unpaid interest
due as of each payment date beginning April 8, 1999, and all
subsequent interest payments are due on the same day of each
month thereafter.
4. CONSISTENT CHANGES. The Existing Loan Documents are hereby amended
------------------
wherever necessary to reflect the changes described above.
5. PAYMENT OF LOAN FEE. Borrower shall pay to Lender a fee in the amount of
--------------------
Five Thousand and 00/100 Dollars ($5,000.00) (the "Loan Fee") plus all out of
pocket expenses.
6. NO DEFENSES OF BORROWER. Borrower (and each guarantor and pledgor signing
-----------------------
below) agrees that it has no defenses against the obligations to pay any amounts
under the Indebtedness.
7. CONTINUING VALIDITY. Borrower (and each guarantor and pledgor signing
-------------------
below) understands and agrees that in modifying the existing Indebtedness,
Lender is relying upon Borrower's representations, warranties, and agreements,
as set forth in the Existing Loan Documents. Except as expressly modified
pursuant to this Loan Modification Agreement, the terms of the Existing Loan
Documents remain unchanged and in full force and effect. Lender's agreement to
modifications to the existing Indebtedness pursuant to this
Loan Modification Agreement in no way shall obligate Lender to make any future
modifications to the Indebtedness. Nothing in this Loan Modification Agreement
shall constitute a satisfaction of the Indebtedness. It is the intention of
Lender and Borrower to retain as liable parties all makers and endorsers of
Existing Loan Documents, unless the party is expressly released by Lender in
writing. No maker, endorser, or guarantor will be released by virtue of this
Loan Modification Agreement. The terms of this paragraph apply not only to this
Loan Modification Agreement, but also to all subsequent loan modification
agreements.
8. CONDITION. The effectiveness of this Loan Modification Agreement is
---------
conditioned upon payment of the Loan Fee.
This Loan Modification Agreement is executed as of the date first written
above.
BORROWER: LENDER:
DATA CRITICAL CORP. SILICON VALLEY BANK
By: /s/ Xxxxxx X. Xxxxxx By: /s/ Xxxx Xxxxxxx
----------------------- -------------------------
Name: Xxxxxx X. Xxxxxx Name: Xxxx Xxxxxxx
--------------------- -----------------------
Title: CFO Title: AVP
-------------------- ----------------------
2
