EXHIBIT 10.33

 

ASSUMPTION AGREEMENT

 

This Assumption Agreement (this “Agreement”), dated as of November 17, 2003, is
entered into between Silicon Valley Bank (“Bank”) and Interwoven, Inc., a
Delaware corporation (“Interwoven”) with reference to the following facts:

 

A. Whereas, Bank has made a loan to iManage, Inc. (“iManage”) pursuant to an
Amended and Restated Loan and Security Agreement, dated as of December 16, 2002,
as may be amended from time to time (the “Loan Agreement”). Defined terms used
but not otherwise defined herein shall have the same meanings as in the Loan
Agreement. The Loan Agreement and all other documents, instruments and
agreements evidencing, securing or otherwise related to the obligations of
iManage to Bank are hereinafter collectively referred to as “Loan Documents.”

 

B. Whereas, Interwoven has entered into an Agreement and Plan of Merger by and
among Interwoven, Inc., Mahogany Acquisition Corporation and iManage, Inc. dated
August 8, 2003, pursuant to which Interwoven will acquire all of the capital
stock of iManage (the “Acquisition”).

 

C. Whereas, Interwoven desires to assume the obligations of iManage under the
Loan Documents.

 

NOW, THEREFORE, the parties hereto agree as follows:

 

1. Assumption. Interwoven hereby assumes and agrees to pay and perform when due
all present and future indebtedness, liabilities and obligations of iManage
under, based upon, or arising out of the Loan Documents and instruments and
agreements relating thereto. Interwoven agrees to honor, perform and comply
with, in all respects, all terms and provisions of all of the Loan Documents, to
the same extent as though Interwoven were named therein in place of iManage. All
references in the Loan Documents to “Borrower” shall be deemed to refer to
iManage and Interwoven collectively, with jointly and several liability. All
present and future obligations of iManage to Bank shall be deemed to be
obligations of Interwoven to Bank.

 

2. Obligations. Interwoven acknowledges that the Obligations are due and owing
to Bank from iManage, and upon the Acquisition are due and owing from iManage
and Interwoven, collectively, jointly and severally, without any defense, offset
or counterclaim of any kind or nature whatsoever as of the date hereof.

 

3. Bank’s Consent. Bank hereby consents to the Acquisition and waives any and
all Events of Default under the Loan Documents that may have occurred or result
from the Acquisition.

 

4. General Provisions. This Agreement and the Loan Documents set forth in full
all of the representations and agreements of the parties with respect to the
subject matter hereof. All agreements, covenants, representations and
warranties, expressed or implied, oral and written, of the parties with regard
to the subject matter hereof are contained herein and in the Loan

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Documents. No other agreements, covenants, representations or warranties,
express or implied, oral or written, have been made by either party to the other
with respect to the subject matter of this Agreement. All prior and
contemporaneous conversations, negotiations, possible and alleged agreements and
representation, covenants, and warranties with respect to the subject matter
hereof are waived, merged herein and therein and superseded hereby and thereby.
This Assumption Agreement may not be modified or amended, nor may any rights
hereunder be waived, except in a writing signed by the parties hereto. Without
limiting the terms of the Loan Documents, Interwoven shall reimburse Bank for
all costs, fees and expenses incurred by Bank in connection with the
negotiations, preparation and conclusion of, and the enforcement of Bank’s
rights and remedies under, this Agreement, any amendment hereof, and any
agreements and documents relating hereto, including, but not limited to,
reasonable attorneys’ fees, and all other costs, fees and expenses. Interwoven
agrees to cooperate fully with Bank and take all further actions and execute all
further documents from time to time as Bank may deem necessary or advisable to
carry out the purposes of this Agreement. This Agreement is being entered into
in, and shall be governed by the laws of, California without regard for choice
of law provisions. Interwoven and Bank consent and agree that the venue shall
lie in Santa Clara County, California.

 

5. Effectiveness. This Agreement shall become effective only upon: (i) its
execution by Interwoven and Bank; (ii) the consummation of the Acquisition; and
(iii) the amendment of the Loan Agreement pursuant to a Loan Modification
Agreement acceptable to Bank, Interwoven and iManage.

 

IN WITNESS WHEREOF, the parties hereto have executed this Assumption Agreement
as of the date first above written.

 

Interwoven:

INTERWOVEN, INC

a Delaware corporation

By:

 

/s/    David M. Allen

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Name:

 

David M. Allen

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Title:

 

Senior Vice President and Chief Financial Officer

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Bank:

   

SILICON VALLEY BANK

By:

 

/s/    Arman Zand

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Name:

 

Arman Zand

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Title:

 

Vice President

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