TWELFTH LOAN MODIFICATION
AGREEMENT
This Twelfth
Loan Modification Agreement (this “Loan Modification
Agreement”) is entered into as of June 30, 2009 and is
effective as of April 29, 2009, by and between SILICON VALLEY
BANK , a California corporation, with its principal place of
business at 3003 Tasman Drive, Santa Clara, California 95054 and
with a loan production office located at 380 Interlocken Crescent,
Suite 600, Broomfield, Colorado 80021 (“Bank”) and
DOUBLE-TAKE SOFTWARE, INC., f/k/a NSI SOFTWARE, INC.,
successor by merger with NETWORK SPECIALISTS, INCORPORATED, a
Delaware corporation with offices at Two Hudson Place, Suite 700,
Hoboken, New Jersey 07030 (“Borrower”).
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DESCRIPTION
OF EXISTING INDEBTEDNESS AND OBLIGATIONS. Among other indebtedness and obligations which
may be owing by Borrower to Bank, Borrower is indebted to Bank
pursuant to a loan arrangement dated as of October 16, 2003,
evidenced by , among other documents, a certain Loan and Security
Agreement dated as of October 16, 2003, between Borrower and Bank
(as amended, the “Loan
Agreement”). Capitalized terms used but not
otherwise defined herein shall have the same meaning as in the Loan
Agreement.
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DESCRIPTION
OF COLLATERAL. Repayment
of the Obligations is secured by the Collateral as described in the
Loan Agreement (together with any other collateral security granted
to Bank, the “Security Documents”).
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Hereinafter,
the Security Documents, together with all other documents
evidencing or securing the Obligations shall be referred to as the
“Existing Loan Documents”.
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DESCRIPTION
OF CHANGE IN TERMS.
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Modification
to Loan Agreement. The Loan Agreement shall be amended
by deleting the following, appearing as Section 4 of the Schedule
thereof, in its entirety:
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(Section
6.1) April
29, 2009.”
And inserting
in lieu thereof the following:
(Section
6.1) April
28, 2010.”
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FEES. Borrower shall reimburse Bank for
all legal fees and expenses incurred in conne
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