RECITALSLoan Modification Agreement • March 26th, 1999 • Transwitch Corp /De • Semiconductors & related devices
ExhibiT 10.26 ------------- NEGATIVE PLEDGE AGREEMENT This Negative Pledge Agreement is made as of July 16, 1998, by and between SILICON VALLEY BANK, a California-chartered bank with its principal place of business at 3003 Tasman Drive, Santa Clara,...Negative Pledge Agreement • March 26th, 1999 • Transwitch Corp /De • Semiconductors & related devices
Exhibit 10.16 ------------ [AMENDED AND RESTATED PROMISSORY NOTE] (Equipment Line of Credit Loans)Promissory Note • March 26th, 1999 • Transwitch Corp /De • Semiconductors & related devices
This promissory note amends and restates the terms and conditions of the obligations of the Borrower under the Promissory Note (Equipment Line of Credit Loans) dated December 31, 1996 (the "Original Note"), by the Borrower to the Bank, as amended from time to time. Nothing contained in this promissory note shall be deemed to create or represent the issuance of new indebtedness or the exchange by the Borrower of the Original Note for a new promissory note. This promissory note is the Equipment Note referred to in the Sixth Loan Modification Agreement of even date herewith, which amends the Commitment Letter dated as of July 1, 1993, between the Bank and the Borrower, as amended by letter amendments dated as of September 1, 1994 and March 21, 1995, and as further amended by loan modification agreements dated as of April 8, 1994, April 19, 1995, January 5, 1996, December 31, 1996 and July 11, 1997, together with all related schedules, as the same may be further amended, modified or supple
8,000,000 Shelton, Connecticut July 16, 1998 (originally dated July 1, 1993, as previously amended)Promissory Note • March 26th, 1999 • Transwitch Corp /De • Semiconductors & related devices
For value received, the undersigned TRANSWITCH CORPORATION, a Delaware corporation (the "Borrower"), promises to pay to SILICON VALLEY BANK (the "Bank") at the office of the Bank located at 3003 Tasman Drive, Santa Clara, California 95054, or to its order, the lesser of (i) Eight Million Dollars ($8,000,000.) or (ii) the principal outstanding hereunder on July 15, 1999 (the "Maturity Date"), together with interest on the principal amount hereof from time to time outstanding at a fluctuating rate per annum equal to the Prime Rate (as defined below) until the Maturity Date, payable monthly in arrears on the fifteenth (15th) day of each calendar month occurring after the date hereof and on the Maturity Date. The Borrower promises to pay on demand interest at a per annum rate of interest equal to the Prime Rate plus five percent (5%) on any overdue principal (and to the extent permitted by law, overdue interest). The Bank's "Prime Rate" is the per annum rate of interest from time to time a
