EXHIBIT 10.1
LOAN MODIFICATION AGREEMENT
This Loan Modification Agreement is entered into May 20, 2005,
effective as of May 7, 2005, by and between SILICON VALLEY
BANK (“Bank”), whose address is 3003 Tasman Drive,
Santa Clara, California 95054 with a loan production office at 4410
Arapahoe Avenue, Suite 200, Boulder, CO 80303 and ADVANCED
ENERGY INDUSTRIES, INC. (“Borrower”), whose address is
1625 Sharp Point Drive, Fort Collins, CO 80525.
1. DESCRIPTION OF EXISTING AGREEMENT. Among other
Obligations, which may be owing by Borrower to Bank, Borrower is or
may become indebted to Bank pursuant to, among other documents, a
Loan and Security Agreement dated May 10, 2002, as it may be
amended from time to time (the “Loan Agreement”). The
Loan Agreement provides for, among other things, a Committed
Revolving Line in the original principal amount of Twenty-Five
Million and No/100 Dollars ($25,000,000.00). Defined terms used but
not otherwise defined herein shall have the same meanings as set
forth in the Loan Agreement.
Hereinafter, all indebtedness owing by Borrower to Bank shall be
referred to as the “Obligations.”
2. DESCRIPTION OF COLLATERAL . Repayment of the Obligations
is secured by the Collateral as described in the Loan
Agreement.
Hereinafter, the above-described security documents, together with
all other documents securing repayment of the Obligations shall be
referred to as the “Security Documents”. Hereinafter,
the Security Documents, together with all other documents
evidencing or securing the Obligations shall be referred to as the
“Existing Loan Documents”.
3. DESCRIPTION OF CHANGE IN TERMS. Bank hereby agrees to
modify the Loan Agreement as follows:
Section 13.1 entitled
“Definitions” is hereby amended to change the
definition of “Revolving Maturity Date” to
read:
“Revolving Maturity Date”
is July 7, 2005.
4. CONSISTENT CHANGES .
