Seventh Amendment to Loan and Security Agreement



 EXHIBIT 10.19 
 SEVENTH AMENDMENT 
 TO 
 LOAN AND SECURITY AGREEMENT 
 THIS SEVENTH AMENDMENT to Loan and Security
Agreement (this “Amendment”) is entered into this 27th day of March, 2006, by and between Silicon Valley Bank (“Bank”) and Insightful Corporation, a Delaware corporation (“Borrower”) whose address is 1700 Westlake
Avenue North, Suite 500, Seattle, WA 98109. 
 RECITALS 
 A.    Bank and Borrower have entered into that certain Loan and Security Agreement dated as of March 29, 2002, as amended
by that certain Loan Modification Agreement by and between Bank and Borrower dated as of August 15, 2002, as amended by that certain Loan Modification Agreement by and between Bank and Borrower dated as of November 18, 2002, as amended by
that certain Loan Modification Agreement by and between Bank and Borrower dated as of January 13, 2003, as amended by that certain Amendment No. 1 to Loan and Security Agreement by and between Bank and Borrower dated as of March 28,
2003, as amended by that certain Loan Modification Agreement by and between Bank and Borrower dated as of March 27, 2004, and as amended by that certain Loan Modification Agreement by and between Bank and Borrower dated as of March 26,
2005 (as the same may from time to time be further amended, modified, supplemented or restated, the “Loan Agreement”). 
 B.    Bank has extended credit to Borrower for the purposes permitted in the Loan Agreement. 
 C.    Borrower has requested that Bank amend the Loan Agreement to (i) extend the Revolving Maturity Date, (ii) amend the financial covenants, and (iii) make certain other revisions to the Loan
Agreement as more fully set forth herein. 
 D.    Bank has agreed to so amend certain provisions of the Loan
Agreement, but only to the extent, in accordance with the terms, subject to the conditions and in reliance upon the representations and warranties set forth below. 
 AGREEMENT 
 NOW, THEREFORE, in consideration of
the foregoing recitals and other good and valuable consideration, the receipt and adequacy of which is hereby acknowledged, and intending to be legally bound, the parties hereto agree as follows: 
 1.    Definitions. Capitalized terms used but not defined in this Amendment shall have the meanings given to them in the Loan
Agreement. 
 2.    Amendments to Loan Agreement. 
 2.1    Section 2.3 (Interest Rate, Payments). Section 2.3(b) is amended in part to provide that interest due on the
Committed Revolving Line is payable on the 24th of each month. 
 2.2    Section 2.4 (Fees).
Section 2.4(a)(ii) and any all references thereto are hereby deleted in their entirety and replaced with the words “Intentionally Omitted”. 
  

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 2.3    Section 6.2 (Financial Statements, Reports, Certificates).
Section 6.2(a)(i) and Section 6.2(a)(ii) are hereby deleted in their entirety and replaced with the words “Intentionally Omitted”. 
 2.4    Section 6.7 (Financial Covenants). Section 6.7 is amended in its entirety and replaced with the following: 
 Borrower will maintain as of the last day of each fiscal quarter: 
 (i) Net Loss. Borrower’s Net Loss, excluding Borrower’s stock option expenses, shall not exceed ($750,000), measured as of the last day of each quarter. 
 (ii) Maximum Unfunded Capital Expenditures. Borrower’s annual Unfunded Capital Expenditures shall not exceed $2,000,000 in any calendar year.

 2.5    Section 13 (Definitions). The following term and its respective definition set forth in
Section 13.1 is amended in its entirety and replaced with the following: 
 “Revolving Maturity
Date” is March 24, 2007. 
 3.    Limitation of Amendments. 
 3.1    The amendments set forth in Section 2, above, are effective for the purposes set forth herein and shall be
limited precisely as written and shall not be deemed to (a) be a consent to any amendment, waiver or modification of any other term or condition of any Loan Document, or (b) otherwise prejudice any right or remedy which Bank may now have
or may have in the future under or in connection with any Loan Document. 
 3.2    This Amendment shall be
construed in connection with and as part of the Loan Documents and all terms, conditions, representations, warranties, covenants and agreements set forth in the Loan Documents, except as herein amended, are hereby ratified and confirmed and shall
remain in full force and effect. 
 4.    Representations and Warranties. To induce Bank to enter into this
Amendment, Borrower hereby represents and warrants to Bank as follows: 
 4.1    Immediately after giving effect
to this Amendment (a) the representations and warranties contained in the Loan Documents are true, accurate and complete in all material respects as of the date hereof (except to the extent such representations and warranties relate to an
earlier date, in which case they are true and correct as of such date), and (b) no Event of Default has occurred and is continuing; 
 4.2    Borrower has the power and authority to execute and deliver this Amendment and to perform its obligations under the Loan Agreement, as amended by this Amendment; 
 4.3    The organizational documents of Borrower delivered to Bank on March 29, 2002 remain true, accurate and complete
and have not been amended, supplemented or restated and are and continue to be in full force and effect; 
 4.4    The execution and delivery by Borrower of this Amendment and the performance by Borrower of its obligations under the Loan Agreement, as amended by this Amendment, have been duly authorized; 
 4.5    The execution and delivery by Borrower of this Amendment and the performance by Borrower of its obligations under the
Loan Agreement, as amended by this Amendment, do not and will not contravene (a) any law or regulation binding on or affecting Borrower, (b) any contractual restriction with a Person binding on Borrower, (c) any order, judgment or
decree of any court or other governmental or public body or authority, or subdivision thereof, binding on Borrower, or (d) the organizational documents of Borrower; 
  

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 4.6    The execution and delivery by Borrower of this Amendment and the
performance by Borrower of its obligations under the Loan Agreement, as amended by this Amendment, do not require any order, consent, approval, license, authorization or validation of, or filing, recording or registration with, or exemption by any
governmental or public body or authority, or subdivision thereof, binding on either Borrower, except as already has been obtained or made; and 
 4.7    This Amendment has been duly executed and delivered by Borrower and is the binding obligation of Borrower, enforceable against Borrower in accordance with its terms, except as such enforceability may be
limited by bankruptcy, insolvency, reorganization, liquidation, moratorium or other similar laws of general application and equitable principles relating to or affecting creditors’ rights. 
 5.    Counterparts. This Amendment may be executed in any number of counterparts and all of such counterparts taken together
shall be deemed to constitute one and the same instrument. 
 6.    Effectiveness. This Amendment shall be deemed
effective as of March 25, 2006 upon (a) the due execution and delivery to Bank of this Amendment by each party hereto, (b) Borrower’s payment of an amendment fee in an amount equal to $7,500. 
 IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed and delivered
as of the date first written above. 
  

									
	BANK	 		 	BORROWER
			
	 Silicon Valley Bank
	 		 	 Insightful Corporation

					
	By:	 	 /S/    BRIAN
BOATMAN        
	 		 	 By:
	 	 /S/    RICHARD
BARBER        

	 Name:
	 	 Brian Boatman
	 		 	 Name:
	 	 Richard Barber

	 Title:
	 	 Relationship Manager
	 		 	 Title:
	 	 CFO


  

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