Amended and Restated Loan and Security Agreement



 EXHIBIT 10.19 
 INFINERA CORPORATION 
 UNITED COMMERCIAL BANK 
 AMENDED AND RESTATED LOAN AND SECURITY AGREEMENT 
 This AMENDED AND RESTATED LOAN AND SECURITY AGREEMENT is entered into as of October 31, 2006, by and between UNITED COMMERCIAL BANK (“Bank”) and INFINERA CORPORATION (“Borrower”). 

RECITALS 
 A. Borrower and Bank are
parties to that certain Loan and Security Agreement dated as of June 21, 2005, as amended from time to time including without limitation by a First Amendment to Loan and Security Agreement dated as of June 14, 2006, a Second Amendment to
Loan and Security Agreement dated as of August 14, 2006 and a Third Amendment to Loan and Security Agreement dated as of August 29, 2006 (collectively, the “Original Agreement”). 
 B. Borrower and Bank wish to amend and restate the terms of the Original Agreement. This Agreement sets forth the terms on which Bank will advance credit
to Borrower, and Borrower will repay the amounts owing to Bank. 
 AGREEMENT 
 The parties agree as follows: 
 1.
DEFINITIONS AND CONSTRUCTION. 
 1.1 Definitions. As used in this Agreement, all capitalized terms shall have
the definitions set forth on Exhibit A. Any term used in the Code and not defined herein shall have the meaning given to the term in the Code. 
 1.2 Accounting Terms. Any accounting term not specifically defined on Exhibit A shall be construed in accordance with GAAP and all calculations shall be made in accordance with GAAP. The term “financial
statements” shall include the accompanying notes and schedules. 
 2. LOAN AND TERMS OF PAYMENT. 
 2.1 Credit Extensions. 
 (a) Promise to Pay. Borrower promises to pay to Bank, in lawful money of the United States of America, the aggregate unpaid principal amount of all Credit Extensions made by Bank to Borrower, together with
interest on the unpaid principal amount of such Credit Extensions at rates in accordance with the terms hereof. 







 (b) Term Advances. 
 (i) Amount. Subject to and upon the terms and conditions of this Agreement, at any time from October 31, 2006 through
October 31, 2007, Bank agrees to make Advances to Borrower in an aggregate amount not to exceed the lesser of the Term Line or the Borrowing Base. Notwithstanding the foregoing or anything to the contrary contained herein, (i) the
aggregate amount of all Advances used to purchase new Equipment shall not exceed $5,000,000 at any time; (ii) the minimum amount of each Advance requested hereunder shall be $2,000,000. Borrower hereby authorizes Bank to make a one time Advance
(the “Refinancing Advance”) in an amount equal to the aggregate amount outstanding under the Original Agreement as of the Closing Date. 
 (ii) Payment. Interest shall accrue from the date of each Advance (including the Refinancing Advance) at the rate specified in Section 2.3(a), and shall be payable in accordance with Section 2.3(c).
Each Advance (including the Refinancing Advance) shall be payable in equal monthly installments of principal plus all accrued interest, beginning on the fifth day of the month immediately following the month in which the Advance was made and ending
on the fifth day of the month immediately preceding the Term Maturity Date. Notwithstanding the foregoing or anything to the contrary contained herein, all amounts due in connection with Advances made under this Section 2.1(b) and any other
amounts owing under this Agreement shall be immediately due and payable on the Term Maturity Date. Advances, once repaid, may not be reborrowed. Borrower may prepay any Advances without penalty or premium. 
 (iii) Form of Request. When Borrower desires to obtain an Advance, Borrower shall notify Bank (which notice shall be irrevocable)
by facsimile transmission to be received no later than 3:00 p.m. Pacific time (12:00 Pacific time for wire transfers) on the Business Day that the Advance is to be made. Such notice shall be substantially in the form of Exhibit D. The notice shall
be signed by a Responsible Officer or its designee and include a copy of the invoice for any Equipment to be financed. Bank is authorized to make Advances under this Agreement, based upon instructions received from a Responsible Officer or a
designee of a Responsible Officer. Bank shall be entitled to rely on any telephonic notice given by a person who Bank reasonably believes to be a Responsible Officer or a designee thereof, and Borrower shall indemnify and hold Bank harmless for any
damages or loss suffered by Bank as a result of such reliance. Bank will credit the amount of Advances made under this Section 2.1(b) to Borrower’s deposit account. 
 (iv) Term Note. Borrower shall deliver to Bank a promissory note in substantially the form of Exhibit B. Bank may enforce its
rights in respect of the Advances under this Agreement without such note. 
 2.2 Overadvances. If the aggregate amount
of the outstanding Advances and Credit Extensions hereunder exceeds the lesser of the Term Line or the Borrowing Base at any time, Borrower shall immediately pay to Bank, in cash, the amount of such excess. 
  

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 2.3 Interest Rates, Payments, and Calculations. 
 (a) Interest Rates. 
 (i) Advances. Except as set forth in Section 2.3(b), the Advances shall bear interest, on the outstanding daily balance thereof, at a variable rate equal to the Prime Rate. 
 (b) Late Fee; Default Rate. If any payment is not made within 10 days after the date such payment is due, Borrower shall pay Bank
a late fee equal to the littlest of (i) 5% of the amount of such unpaid amount or (ii) the maximum amount permitted to charge under applicable law. All Obligations shall bear interest, from and after the occurrence and during the
continuance of an Event of Default, at a rate equal to 5 percentage points above the interest rate applicable immediately prior to the occurrence of the Event of Default. 
 (c) Payments. Interest hereunder shall be due and payable on the fifth calendar day of each month during the term hereof. Bank
shall, at its option, charge such interest, all Bank Expenses, and all Periodic Payments against any of Borrower’s deposit accounts. Bank shall promptly notify Borrower when it debits Borrower’s deposit accounts. Any interest not paid when
due shall be compounded by becoming a part of the Obligations, and such interest shall thereafter accrue interest at the rate then applicable hereunder. All payments shall be free and clear of any taxes, withholdings, duties, impositions or other
charges, to the end that Bank will receive the entire amount of any Obligations payable hereunder, regardless of source of payment. 
 (d) Computation. In the event the Prime Rate is changed from time to time hereafter, the applicable rate of interest hereunder shall be increased or decreased, effective as of the day the Prime Rate is changed, by an amount equal to
such change in the Prime Rate. All interest chargeable under the Loan Documents shall be computed on the basis of a 360 day year for the actual number of days elapsed. 
 2.4 Crediting Payments. Prior to the occurrence of an Event of Default, Bank shall credit a wire transfer of funds, check or other
item of payment to such deposit account or Obligation as Borrower specifies. After the occurrence of an Event of Default, Bank shall have the right, in its sole discretion, to immediately apply any wire transfer of funds, check, or other item of
payment Bank may receive to conditionally reduce Obligations, but such applications of funds shall not be considered a payment on account unless such payment is of immediately available federal funds or unless and until such check or other item of
payment is honored when presented for payment. Notwithstanding anything to the contrary contained herein, any wire transfer or payment received by Bank after 2:00 p.m. Pacific time shall be deemed to have been received by Bank as of the opening of
business on the immediately following Business Day. Whenever any payment to Bank under the Loan Documents would otherwise be due (except by reason of acceleration) on a date that is not a Business Day, such payment shall instead be due on the next
Business Day, and additional fees or interest, as the case may be, shall accrue and be payable for the period of such extension. 
  

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 2.5 Fees. Borrower shall pay to Bank the following: 
 (a) Bank Expenses. On the Closing Date, all Bank Expenses incurred through the Closing Date, and, after the Closing Date, all Bank
Expenses, as and when they become due. 
 2.6 Term. This Agreement shall become effective on the Closing Date and,
subject to Section 12.7, shall continue in full force and effect for so long as any Obligations remain outstanding or Bank has any obligation to make Credit Extensions under this Agreement. Notwithstanding the foregoing, Bank shall have the
right to terminate its obligation to make Credit Extensions under this Agreement immediately and without notice upon the occurrence and during the continuance of an Event of Default. 
 3. CONDITIONS OF LOANS. 
 3.1 Conditions Precedent to Initial Credit Extension. The obligation of Bank to make the initial Credit Extension is subject to the condition precedent that Bank shall have received, in form and substance satisfactory to Bank, the
following: 
 (a) This Agreement; 
 (b) an officer’s certificate of Borrower with respect to incumbency and resolutions authorizing the execution and delivery of this
Agreement; 
 (c) an agreement to provide insurance; 
 (d) an acknowledgement of Silicon Valley Bank; 
 (e) an Equipment appraisal (as a condition to the initial Advance, other than the Refinancing Advance); 
 (f) payment of the Bank Expenses then due specified in Section 2.5 
 (g) current SOS Reports indicating that except for Permitted Liens, there are no other security interests or Liens of record in the
Collateral; 
 (h) current Compliance Certificate in accordance with Section 6.2; and 
 (i) such other documents or certificates, and completion of such other matters, as Bank may reasonably deem necessary or appropriate.

 3.2 Conditions Precedent to all Credit Extensions. The obligation of Bank to make each Credit Extension, including
the initial Credit Extension, is further subject to the following conditions: 
 (a) timely receipt by Bank of the
Payment/Advance Form as provided in Section 2.1; and 
  

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 (b) the representations and warranties contained in Section 5 shall be true and
correct in all material respects on and as of the date of such Payment/Advance Form and on the effective date of each Credit Extension as though made at and as of each such date, and no Event of Default shall have occurred and be continuing, or
would exist after giving effect to such Credit Extension (provided, however, that those representations and warranties expressly referring to another date shall be true, correct and complete in all material respects as of such date). The making of
each Credit Extension shall be deemed to be a representation and warranty by Borrower on the date of such Credit Extension as to the accuracy of the facts referred to in this Section 3.2. 
 4. CREATION OF SECURITY INTEREST. 
 4.1 Grant of Security Interest. Borrower grants and pledges to Bank a continuing security interest in the Collateral to secure prompt repayment of any and all Obligations and to secure prompt performance by
Borrower of each of its covenants and duties under the Loan Documents. Except as set forth in the Schedule, such security interest constitutes a valid, first priority security interest as to the Equipment and to all depository, investment and
security accounts maintained at Bank, and up to Four Million Dollars ($4,000,000) in unrestricted cash maintained at Bank, and a valid second priority security interest (behind the Liens of Silicon Valley Bank and Nomadics, Inc.) in all other
Collateral. Bank’s Lien on the Collateral shall remain in effect for so long as any Obligations are outstanding. 
 4.2
Perfection of Security Interest. Borrower authorizes Bank to file at any time financing statements, continuation statements, and amendments thereto that (i) either specifically describe the Collateral or describe the Collateral as all
assets of Borrower of the kind pledged hereunder, and (ii) contain any other information required by the Code for the sufficiency of filing office acceptance of any financing statement, continuation statement, or amendment, including whether
Borrower is an organization, the type of organization and any organizational identification number issued to Borrower, if applicable. Borrower shall have possession of the Collateral, except where expressly otherwise provided in this Agreement or
where Bank chooses to perfect its security interest by possession in addition to the filing of a financing statement. Where Collateral is in possession of a third party bailee, Borrower shall take such steps as Bank reasonably requests for Bank to
obtain an acknowledgment, in form and substance satisfactory to Bank, of the bailee that the bailee holds such Collateral for the benefit of Bank. Borrower from time to time may deposit with Bank specific cash collateral to secure specific
Obligations; Borrower authorizes Bank to hold such specific balances in pledge and to decline to honor any drafts thereon or any request by Borrower or any other Person to pay or otherwise transfer any part of such balances for so long as the
specific Obligations are outstanding. 
 4.3 Right to Inspect. Bank (through any of its officers, employees, or agents)
shall have the right, upon reasonable prior notice, from time to time during Borrower’s usual business hours but no more than once a year (unless an Event of Default has occurred and is continuing), to inspect Borrower’s Books and to make
copies thereof and to check, test, and appraise the Collateral in order to verify Borrower’s financial condition or the amount, condition of, or any other matter relating to, the Collateral. 
  

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 5. REPRESENTATIONS AND WARRANTIES. 
 Except as set forth on the Schedule, Borrower represents and warrants as follows: 
 5.1 Due Organization and Qualification. Borrower and each Subsidiary is a corporation duly existing under the laws of the state in
which it is incorporated and qualified and licensed to do business in any state in which the conduct of its business or its ownership of property requires that it be so qualified, except where the failure to do so would not reasonably be expected to
cause a Material Adverse Effect. 
 5.2 Due Authorization; No Conflict. The execution, delivery, and performance of the
Loan Documents are within Borrower’s powers, have been duly authorized and are not in conflict with nor constitute a breach of any provision contained in Borrower’s Certificate of Incorporation or Bylaws, nor will they constitute an event
of default under any material agreement by which Borrower is bound. Borrower is not in default under any agreement by which it is bound, except to the extent such default would not reasonably be expected to cause a Material Adverse Effect.

 5.3 Collateral. Borrower has rights in or the power to transfer the Collateral, and its title to the Collateral is
free and clear of Liens, adverse claims, and restrictions on transfer or pledge except for Permitted Liens. As of the Closing, all Collateral is located solely in the Collateral States. To the Borrower’s knowledge, Accounts are bona fide
existing obligations. The property or services giving rise to such Accounts has been delivered or rendered to the account debtor or its agent for immediate shipment to and unconditional acceptance by the account debtor. All Inventory is in all
material respects of good and merchantable quality, free from all material defects, except for Inventory for which adequate reserves have been made. Except as set forth in the Schedule, none of the Collateral is maintained or invested with a Person
other than Bank or Bank’s Affiliates. 
 5.4 Intellectual Property Collateral. To Borrower’s knowledge,
Borrower is the sole owner of the Intellectual Property Collateral, except for Permitted Liens and licenses granted by Borrower to its customers in the ordinary course of business. To the best of Borrower’s knowledge, each of the Copyrights,
Trademarks and Patents is valid and enforceable, and no part of the Intellectual Property Collateral has been judged invalid or unenforceable, in whole or in part, and no claim has been made to Borrower that any part of the Intellectual Property
Collateral violates the rights of any third party except to the extent such claim would not reasonably be expected to cause a Material Adverse Effect. Except as set forth in the Schedule, Borrower’s rights as a licensee of intellectual property
do not give rise to more than 5% of its gross revenue in any given month, including without limitation revenue derived from the sale, licensing, rendering or disposition of any product or service. 
 5.5 Name; Location of Chief Executive Office. Except as disclosed in the Schedule, Borrower has not done business under any name
other than that specified on the signature page hereof, and its exact legal name is as set forth in the first paragraph of this Agreement. As of the Closing, the chief executive office of Borrower is located in the Chief Executive Office State at
the address indicated in Section 10 hereof. 
  

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 5.6 Litigation. Except as set forth in the Schedule, there are no actions or
proceedings pending by or against Borrower or any Subsidiary before any court or administrative agency in which a likely adverse decision would reasonably be expected to have a Material Adverse Effect. 
 5.7 No Material Adverse Change in Financial Statements. All consolidated and consolidating financial statements related to Borrower
and any Subsidiary that are delivered by Borrower to Bank fairly present in all material respects Borrower’s consolidated and consolidating financial condition as of the date thereof and Borrower’s consolidated and consolidating results of
operations for the period then ended. There has not been a material adverse change in the consolidated or in the consolidating financial condition of Borrower since the date of the most recent of such financial statements submitted to Bank.

 5.8 Solvency, Payment of Debts. Borrower is able to pay its debts (including trade debts) as they mature.

 5.9 Compliance with Laws and Regulations. Borrower and each Subsidiary have met the minimum funding requirements of
ERISA with respect to any employee benefit plans subject to ERISA. No event has occurred resulting from Borrower’s failure to comply with ERISA that is reasonably likely to result in Borrower’s incurring any liability that could have a
Material Adverse Effect. Borrower is not an “investment company” or a company “controlled” by an “investment company” within the meaning of the Investment Company Act of 1940. Borrower is not engaged principally, or as
one of the important activities, in the business of extending credit for the purpose of purchasing or carrying margin stock (within the meaning of Regulations T and U of the Board of Governors of the Federal Reserve System). Borrower has complied in
all material respects with all the provisions of the Federal Fair Labor Standards Act. Borrower is in compliance with all environmental laws, regulations and ordinances except where the failure to comply is not reasonably likely to have a Material
Adverse Effect. Borrower has not violated any statutes, laws, ordinances or rules applicable to it, the violation of which would reasonably be expected to have a Material Adverse Effect. Borrower and each Subsidiary have filed or caused to be filed
all tax returns required to be filed, and have paid, or have made adequate provision for the payment of, all taxes reflected therein except those being contested in good faith with adequate reserves under GAAP or where the failure to file such
returns or pay such taxes would not reasonably be expected to have a Material Adverse Effect. 
 5.10 Subsidiaries.
Borrower does not own any stock, partnership interest or other equity securities of any Person, except for Permitted Investments. 
 5.11 Government Consents. Borrower and each Subsidiary have obtained all consents, approvals and authorizations of, made all declarations or filings with, and given all notices to, all governmental authorities that are necessary for
the continued operation of Borrower’s business as currently conducted, except where the failure to do so would not reasonably be expected to cause a Material Adverse Effect. 
 5.12 Full Disclosure. No representation, warranty or other statement made by Borrower in any certificate or written statement
furnished to Bank taken together with all such 

  

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certificates and written statements furnished to Bank contains any untrue statement of a material fact or omits to state a material fact necessary in order
to make the statements contained in such certificates or statements not misleading, it being recognized by Bank that the projections and forecasts provided by Borrower in good faith and based upon reasonable assumptions are not to be viewed as facts
and that actual results during the period or periods covered by any such projections and forecasts may differ from the projected or forecasted results. 
 6. AFFIRMATIVE COVENANTS. 
 Borrower covenants that, until payment in full of all outstanding
Obligations, and for so long as Bank may have any commitment to make a Credit Extension hereunder, Borrower shall do all of the following: 
 6.1 Good Standing and Government Compliance. Borrower shall maintain its and each of its Subsidiaries’ corporate existence and good standing in its jurisdiction of formation, shall maintain qualification
and good standing in each other jurisdiction in which the failure to so qualify would reasonably be expected to have a Material Adverse Effect, and shall furnish to Bank the organizational identification number issued to Borrower by the authorities
of the state in which Borrower is organized, if applicable. Borrower shall meet, and shall cause each Subsidiary to meet, the minimum funding requirements of ERISA with respect to any employee benefit plans subject to ERISA. Borrower shall comply in
all material respects with all applicable Environmental Laws, and maintain all material permits, licenses and approvals required thereunder where the failure to do so would reasonably be expected to have a Material Adverse Effect. Borrower shall
comply, and shall cause each Subsidiary to comply, with all statutes, laws, ordinances and government rules and regulations to which it is subject, and shall maintain, and shall cause each of its Subsidiaries to maintain, in force all licenses,
approvals and agreements, the loss of which or failure to comply with which would reasonably be expected to have a Material Adverse Effect. 
 6.2 Financial Statements, Reports, Certificates. Borrower shall deliver to Bank: (i) as soon as available, but in any event within 30 days after the end of each calendar month, (a) a company prepared
consolidated and consolidating balance sheet and income statement covering Borrower’s operations during such period, in a form reasonably acceptable to Bank and certified by a Responsible Officer, (b) a compliance certificate certified by
a Responsible Officer, and (c) agings of accounts receivable and accounts payable; (ii) as soon as available, but in any event within 150 days after the end of Borrower’s fiscal year (and November 15, 2006 for 2005 financials),
audited consolidated and consolidating financial statements of Borrower prepared in accordance with GAAP, consistently applied, together with an opinion, which is unqualified or otherwise consented to in writing by Bank on such financial statements,
from Ernst & Young or another independent certified public accounting firm of national standing; (iii) if applicable, copies of all statements, reports and notices sent or made available generally by Borrower to its security holders or
to any holders of Subordinated Debt and all reports on Forms 10-K and 10—Q filed with the Securities and Exchange Commission; (iv) promptly upon receipt of notice thereof, a report of any legal actions pending or threatened against
Borrower or any Subsidiary that could result in damages or costs to Borrower or any Subsidiary of $500,000 or more; (v) promptly upon receipt, each management letter prepared by Borrower’s independent certified public accounting firm
regarding Borrower’s management control systems; (vi) concurrently with distribution to Borrower’s preferred 

  

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shareholders, annual financial projections approved by Borrower’s board of directors; and (vii) such budgets, sales projections, operating plans or
other financial information generally prepared by Borrower in the ordinary course of business as Bank may reasonably request from time to time. 
 In addition, as soon as possible and in any event within 3 calendar days after becoming aware of the occurrence or existence of an Event of Default hereunder, a written statement of a Responsible Officer setting forth
details of the Event of Default, and the action which Borrower has taken or proposes to take with respect thereto. 
 Bank
shall have a right from time to time hereafter to appraise the Equipment at Borrower’s expense, not to exceed $11,000, provided that such appraisals will conducted no more often than every 12 months unless an Event of Default has occurred and
is continuing. 
 Borrower may deliver to Bank on an electronic basis any certificates, reports or information required
pursuant to this Section 6.2, and Bank shall be entitled to rely on the information contained in the electronic files, provided that Bank in good faith believes that the files were delivered by a Responsible Officer. If Borrower delivers this
information electronically, it shall also deliver to Bank by U.S. Mail, reputable overnight courier service, hand delivery, facsimile or .pdf file within 5 Business Days of submission of the unsigned electronic copy the certification of monthly
financial statements, the intellectual property report, the Borrowing Base Certificate and the Compliance Certificate, each bearing the physical signature of the Responsible Officer. 
 6.3 Inventory; Returns. Borrower shall keep all Inventory in good and merchantable condition, free from all material defects except
for Inventory for which adequate reserves have been made. Returns and allowances, if any, as between Borrower and its account debtors shall be on the same basis and in accordance with the usual customary practices of Borrower, as they exist on the
Closing Date. Borrower shall promptly notify Bank of all returns and recoveries and of all disputes and claims involving more than $500,000. 
 6.4 Taxes. Borrower shall make, and cause each Subsidiary to make, due and timely payment or deposit of all material federal, state, and local taxes, assessments, or contributions required of it by law,
including, but not limited to, those laws concerning income taxes, F.I.C.A., F.U.T.A. and state disability, and will execute and deliver to Bank, on demand, proof satisfactory to Bank indicating that Borrower or a Subsidiary has made such payments
or deposits and any appropriate certificates attesting to the payment or deposit thereof; provided that Borrower or a Subsidiary need not make any payment if the amount or validity of such payment is contested in good faith by appropriate
proceedings and is reserved against (to the extent required by GAAP) by Borrower. 
 6.5 Insurance. 
 (a) Borrower, at its expense, shall keep the Collateral insured against loss or damage by fire, theft, explosion, sprinklers, and all
other hazards and risks, and in such amounts, as ordinarily insured against by other owners in similar businesses conducted in the locations where Borrower’s business is conducted on the date hereof. Borrower shall also maintain liability and
other insurance in amounts and of a type that are customary to businesses similar to Borrower’s. 
  

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 (b) All such policies of insurance shall be in such form, with such companies, and in
such amounts (minimum of $15,000,000 as of the Closing Date) as reasonably satisfactory to Bank as of the Closing. All policies of property insurance shall contain a lender’s loss payable endorsement, in a form satisfactory to Bank, snowing
Bank as an additional loss payee, and all liability insurance policies shall show Bank as an additional insured and specify that the insurer must give at least 20 days notice to Bank before canceling its policy for any reason. Upon Bank’s
request, Borrower shall deliver to Bank certified copies of the policies of insurance and evidence of all premium payments. If no Event of Default has occurred continuing, proceeds payable under any casualty policy will, at Borrower’s option,
be payable to Borrower to replace the property subject to the claim, provided that any such replacement property shall be deemed Collateral in which Bank has been granted a first priority security interest. If an Event of Default has occurred and is
continuing, all proceeds payable under any such policy shall, at Bank’s option, be payable to Bank to be applied on account of the Obligations. 
 6.6 Depository Account. Beginning three (3) Business Days after the Closing Date, Borrower shall use reasonable efforts to maintain at least Four Million Dollars ($4,000,000) that is unrestricted in
depository and operating accounts with Bank. 
 6.7 Executive Officers. As promptly as possible, but in any case at
least 15 days after the change of its Chief Executive Officer, President or Chief Financial Officer of Borrower, Borrower shall deliver written notice to Bank of such change. 
 6.8 Further Assurances. At any time and from time to time Borrower shall execute and deliver such further instruments and take such
further action as may reasonably be requested by Bank to effect the purposes of this Agreement. 
 7. NEGATIVE COVENANTS. 

Borrower covenants and agrees that, so long as any credit hereunder shall be available and until the outstanding Obligations are paid in full or for
so long as Bank may have any commitment to make any Credit Extensions, Borrower will not do any of the following without Bank’s prior written consent: 
 7.1 Dispositions. Convey, sell, lease, license, transfer or otherwise dispose of (collectively, to “Transfer”), or permit any of its Subsidiaries to Transfer, all or substantially all of its business
or property, or move cash balances on deposit with Bank to accounts opened at another financial institution, other than Permitted Transfers. 
 7.2 Change in Name, Location, Executive Office, or Executive Management; Change in Business; Change in Fiscal Year; Change in Control. Change its name or the Borrower State or relocate its chief executive
office without 30 days prior written notification to Bank; replace its Chief Executive Officer, President or Chief Financial Officer without 15 days prior written notification to Bank; without the consent of Bank, engage in any business, or permit
any of its Subsidiaries to engage in any business, other than or reasonably related or incidental to the businesses currently engaged in by Borrower; restructure any debt or accelerate the payment of any 

  

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existing debt exceeding $1,000,000; have a Change in Control without the consent of Bank which consent will not be unreasonably withheld. 
 7.3 Mergers or Acquisitions. Without the prior written consent of Bank, which shall not be unreasonably withheld, merge or
consolidate, or permit any of its Subsidiaries to merge or consolidate, with or into any other business organization (other than mergers or consolidations of a Subsidiary into another Subsidiary or into Borrower), or acquire, or permit any of its
Subsidiaries to acquire, all or substantially all of the capital stock or property of another Person except where (i) such transactions do not in the aggregate exceed $1,000,000, (ii) no Event of Default has occurred, is continuing or
would exist after giving effect to such transactions, (iii) such transactions do not result in a Change in Control, and (iv) Borrower is the surviving entity. 
 7.4 Indebtedness. Create, incur, assume, guarantee or be or remain liable with respect to any Indebtedness, or permit any
Subsidiary so to do, other than Permitted Indebtedness. 
 7.5 Encumbrances. Create, incur, assume or allow any Lien
with respect to any of its property, or assign or otherwise convey any right to receive income, including the sale of any Accounts, or permit any of its Subsidiaries so to do, except for Permitted Liens, or covenant to any other Person that Borrower
in the future will refrain from creating, incurring, assuming or allowing any Lien with respect to any of Borrower’s property. 
 7.6 Distributions. Pay any dividends or make any other distribution or payment on account of or in redemption, retirement or purchase of any capital stock, except that Borrower may (i) repurchase the stock of former employees
pursuant to stock repurchase agreements as long as an Event of Default does not exist prior to such repurchase or would not exist after giving effect to such repurchase, and (ii) repurchase the stock of former employees pursuant to stock
repurchase agreements by the cancellation of indebtedness owed by such former employees to Borrower regardless of whether an Event of Default exists. 
 7.7 Investments. Directly or indirectly acquire or own, or make any Investment in or to any Person, or permit any of its Subsidiaries so to do, other than Permitted Investments, or maintain or invest any of its
property with a Person other than Bank or Bank’s Affiliates or permit any Subsidiary to do so unless such Person has entered into a control agreement with Bank, in form and substance satisfactory to Bank, or suffer or permit any Subsidiary to
be a party to, or be bound by, an agreement that restricts such Subsidiary from paying dividends or otherwise distributing property to Borrower. 
 7.8 Transactions with Affiliates. Directly or indirectly enter into or permit to exist any material transaction with any Affiliate of Borrower except for transactions that are in the ordinary course of
Borrower’s business, upon fair and reasonable terms that are no less favorable to Borrower than would be obtained in an arm’s length transaction with a non-affiliated Person. 
 7.9 Subordinated Debt. Make any payment in respect of any Subordinated Debt, or permit any of its Subsidiaries to make any such
payment, except in compliance with the terms of such Subordinated Debt, or amend any provision affecting Bank’s rights contained in any 

  

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documentation relating to the Subordinated Debt without Bank’s prior written consent which consent will not be unreasonably withheld. 
 7.10 Inventory and Equipment. Store the Inventory or the Equipment with a bailee, warehouseman, or similar third party unless the
third party has been notified of Bank’s security interest and Bank (a) has received an acknowledgment from the third party that it is holding or will hold the Inventory or Equipment for Bank’s benefit or (b) is in possession of
the warehouse receipt, where negotiable, covering such Inventory or Equipment. Except for Inventory sold in the ordinary course of business and except for such other locations as Bank may approve in writing, Borrower shall keep the Inventory and
Equipment only within the Collateral States. 
 7.11 No Investment Company; Margin Regulation. Become or be controlled
by an “investment company,” within the meaning of the Investment Company Act of 1940, or become principally engaged in, or undertake as one of its important activities, the business of extending credit for the purpose of purchasing or
carrying margin stock, or use the proceeds of any Credit Extension for such purpose. 
 8. EVENTS OF DEFAULT. 
 Any one or more of the following events shall constitute an Event of Default by Borrower under this Agreement: 
 8.1 Payment Default. If Borrower fails to pay any of the Obligations within 3 Business Days after their due date; 
 8.2 Covenant Default. 
 (a) If Borrower fails to perform any obligation under Section 6.2 or violates any of the covenants contained in Article 7 of this Agreement; or 
 (b) If Borrower fails or neglects to perform or observe any other material term, provision, condition, covenant contained in this
Agreement, in any of the Loan Documents, or in any other present or future agreement between Borrower and Bank and as to any default under such other term, provision, condition or covenant that can be cured, has failed to cure such default within 10
days after Borrower receives notice thereof or any officer of Borrower becomes aware thereof; provided, however, that if the default cannot by its nature be cured within the 10 day period or cannot after diligent attempts by Borrower be cured within
such 10 day period, and such default is likely to be cured within a reasonable time, then Borrower shall have an additional reasonable period (which shall not in any case exceed 30 days) to attempt to cure such default, and within such reasonable
time period the failure to have cured such default shall not be deemed an Event of Default but no Credit Extensions will be made; 
 8.3 Material Adverse Change. If there occurs a Material Adverse Effect; 
 8.4 Attachment. If any
material portion of Borrower’s assets is attached, seized, subjected to a writ or distress warrant, or is levied upon, or comes into the possession of any trustee, 

  

 -12- 








 
receiver or person acting in a similar capacity and such attachment, seizure, writ or distress warrant or levy has not been removed, discharged or rescinded
within 10 days, or if Borrower is enjoined, restrained, or in any way prevented by court order from continuing to conduct all or any material part of its business affairs, or if a judgment or other claim becomes a lien or encumbrance upon any
material portion of Borrower’s assets, or if a notice of lien, levy, or assessment is filed of record with respect to any of Borrower’s assets by the United States Government, or any department, agency, or instrumentality thereof, or by
any state, county, municipal, or governmental agency, and the same is not paid within ten days after Borrower receives notice thereof, provided that none of the foregoing shall constitute an Event of Default where such action or event is stayed or
an adequate bond has been posted pending a good faith contest by Borrower (provided that no Credit Extensions will be made during such cure period); 
 8.5 Insolvency. If Borrower becomes insolvent, or if an Insolvency Proceeding is commenced by Borrower, or if an Insolvency Proceeding is commenced against Borrower and is not dismissed or stayed within 45 days
(provided that no Credit Extensions will be made prior to the dismissal of such Insolvency Proceeding); 
 8.6 Other
Agreements. If there is a default or other failure to perform in any agreement to which Borrower is a party with a third party or parties resulting in a right by such third party or parties, whether or not exercised, to accelerate the maturity
of any Indebtedness in an amount in excess of $500,000 or that would reasonably be expected to have a Material Adverse Effect, including, without limitation, the promissory note issued to Nomadics, Inc.; 
 8.7 Judgments. If a judgment or judgments for the payment of money in an amount, individually or in the aggregate, of at least
$500,000 shall be rendered against Borrower and shall remain unsatisfied and unstayed for a period of 10 days (provided that no Credit Extensions will be made prior to the satisfaction or stay of the judgment); or 
 8.8 Misrepresentations. If any material misrepresentation or material misstatement exists now or hereafter in any warranty or
representation set forth herein or in any certificate delivered to Bank by any Responsible Officer pursuant to this Agreement or to induce Bank to enter into this Agreement or any other Loan Document. 
 9. BANK’S RIGHTS AND REMEDIES. 
 9.1 Rights and Remedies. Upon the occurrence and during the continuance of an Event of Default, Bank may, at its election, without notice of its election and without demand, do any one or more of the following,
all of which are authorized by Borrower: 
 (a) Declare all Obligations, whether evidenced by this Agreement, by any of the
other Loan Documents, or otherwise, immediately due and payable (provided that upon the occurrence of an Event of Default described in Section 8.5 (insolvency), all Obligations shall become immediately due and payable without any action by
Bank); 
 (b) Demand that Borrower (i) deposit cash with Bank in an amount equal to the amount of any Letters of Credit
remaining undrawn, as collateral security for the repayment of 

  

 -13- 








 
any future drawings under such Letters of Credit, and (ii) pay in advance all Letter of Credit fees scheduled to be paid or payable over the remaining
term of the Letters of Credit, and Borrower shall promptly deposit and pay such amounts; 
 (c) Cease advancing money or
extending credit to or for the benefit of Borrower under this Agreement or under any other agreement between Borrower and Bank; 
 (d) Settle or adjust disputes and claims directly with account debtors for amounts, upon terms and in whatever order that Bank reasonably considers advisable; 
 (e) Make such payments and do such acts as Bank considers necessary or reasonable to protect its security interest in the Collateral.
Borrower agrees to assemble the Collateral if Bank so requires, and to make the Collateral available to Bank as Bank may designate. Borrower authorizes Bank to enter the premises where the Collateral is located, to take and maintain possession of
the Collateral, or any part of it, and to pay, purchase, contest, or compromise any encumbrance, charge, or lien which in Bank’s determination appears to be prior or superior to its security interest and to pay all expenses incurred in
connection therewith. With respect to any of Borrower’s owned premises, Borrower hereby grants Bank a license to enter into possession of such premises and to occupy the same, without charge, in order to exercise any of Bank’s rights or
remedies provided herein, at law, in equity, or otherwise; 
 (f) Set off and apply to the Obligations any and all
(i) balances and deposits of Borrower held by Bank, and (ii) indebtedness at any time owing to or for the credit or the account of Borrower held by Bank; 
 (g) Ship, reclaim, recover, store, finish, maintain, repair, prepare for sale, advertise for sale, and sell (in the manner provided for
herein) the Collateral. Bank is hereby granted a license or other right, solely pursuant to the provisions of this Section 9.1, to use, without charge, Borrower’s labels, patents, copyrights, rights of use of any name, trade secrets, trade
names, trademarks, service marks, and advertising matter, or any property of a similar nature, as it pertains to the Collateral, in completing production of, advertising for sale, and selling any Collateral and, in connection with Bank’s
exercise of its rights under this Section 9.1, Borrower’s rights under all licenses and all franchise agreements shall inure to Bank’s benefit; 
 (h) Sell the Collateral at either a public or private sale, or both, by way of one or more contracts or transactions, for cash or on
terms, in such manner and at such places (including Borrower’s premises) as Bank determines is commercially reasonable, and apply any proceeds to the Obligations in whatever manner or order Bank deems appropriate. Bank may sell the Collateral
without giving any warranties as to the Collateral. Bank may specifically disclaim any warranties of title or the like. This procedure will not be considered adversely to affect the commercial reasonableness of any sale of the Collateral. If Bank
sells any of the Collateral upon credit, Borrower will be credited only with payments actually made by the purchaser, received by Bank, and applied to the indebtedness of the purchaser. If the purchaser fails to pay for the Collateral, Bank may
resell the Collateral and Borrower shall be credited with the proceeds of the sale; 
  

 -14- 








 (i) Bank may credit bid and purchase at any public sale; 
 (j) Apply for the appointment of a receiver, trustee, liquidator or conservator of the Collateral, without notice and without regard to
the adequacy of the security for the Obligations and without regard to the solvency of Borrower, any guarantor or any other Person liable for any of the Obligations; and 
 (k) Any deficiency that exists after disposition of the Collaterals, as provided above will be paid immediately by Borrower. 

Bank may comply with any applicable state or federal law requirements in connection with a disposition of the Collateral and compliance will not be
considered adversely to affect the commercial reasonableness of any sale of the Collateral. 
 9.2 Power of Attorney.
Effective only upon the occurrence and during the continuance of an Event of Default, Borrower hereby irrevocably appoints Bank (and any of Bank’s designated officers, or employees) as Borrower’s true and lawful attorney to: (a) send
requests for verification of Accounts or notify account debtors of Bank’s security interest in the Accounts; (b) endorse Borrower’s name on any checks or other forms of payment or security that may come into Bank’s possession;
(c) sign Borrower’s name on any invoice or bill of lading relating to any Account, drafts against account debtors, schedules and assignments of Accounts, verifications of Accounts, and notices to account debtors; (d) dispose of any
Collateral; (e) make, settle, and adjust all claims under and decisions with respect to Borrower’s policies of insurance; (f) settle and adjust disputes and claims respecting the accounts directly with account debtors, for amounts and
upon terms which Bank determines to be reasonable; and (g) file, in its sole discretion, one or more financing or continuation statements and amendments thereto, relative to any of the Collateral without the signature of Borrower where
permitted by law; provided Bank may exercise such power of attorney to sign the name of Borrower on any of the documents described in clauses (g) above, regardless of whether an Event of Default has occurred. The appointment of Bank as
Borrower’s attorney in fact, and each and every one of Bank’s rights and powers, being coupled with an interest, is irrevocable until all of the Obligations have been fully repaid and performed and Bank’s obligation to provide
advances hereunder is terminated. 
 9.3 Accounts Collection. At any time after the occurrence and during the
continuation of an Event of Default, Bank may notify any Person owing funds to Borrower of Bank’s security interest in such funds and verify the amount of such Account. Borrower shall collect all amounts owing to Borrower for Bank, receive in
trust all payments as Bank’s trustee, and immediately deliver such payments to Bank in their original form as received from the account debtor, with proper endorsements for deposit. 
 9.4 Bank Expenses. If Borrower fails to pay any amounts or furnish any required proof of payment due to third persons or entities,
as required under the terms of this Agreement, then Bank may do any or all of the following after reasonable notice to Borrower: (a) make payment of the same or any part thereof; (b) set up such reserves under the Term Line as Bank deems
necessary to protect Bank from the exposure created by such failure; or (c) obtain and maintain insurance policies of the type discussed in Section 6.5 of this Agreement, and take any action with respect to 

  

 -15- 








 
such policies as Bank deems prudent. Any amounts so paid or deposited by Bank shall constitute Bank Expenses, shall be immediately due and payable, and shall
bear interest at the then applicable rate hereinabove provided, and shall be secured by the Collateral. Any payments made by Bank shall not constitute an agreement by Bank to make similar payments in the future or a waiver by Bank of any Event of
Default under this Agreement. 
 9.5 Bank’s Liability for Collateral. Bank has no obligation to clean up or
otherwise prepare the Collateral for sale. All risk of loss, damage or destruction of the Collateral shall be borne by Borrower. 
 9.6 No Obligation to Pursue Others. Bank has no obligation to attempt to satisfy the Obligations by collecting them from any other person liable for them and Bank may release, modify or waive any collateral provided by any other
Person to secure any of the Obligations, all without affecting Bank’s rights against Borrower. Borrower waives any right it may have to require Bank to pursue any other Person for any of the Obligations. 
 9.7 Remedies Cumulative. Bank’s rights and remedies under this Agreement, the Loan Documents, and all other agreements shall
be cumulative. Bank shall have all other rights and remedies not inconsistent herewith as provided under the Code, by law, or in equity. No exercise by Bank of one right or remedy shall be deemed an election, and no waiver by Bank of any Event of
Default on Borrower’s part shall be deemed a continuing waiver. No delay by Bank shall constitute a waiver, election, or acquiescence by it. No waiver by Bank shall be effective unless made in a written document signed on behalf of Bank and
then shall be effective only in the specific instance and for the specific purpose for which it was given. Borrower expressly agrees that this Section 9.7 may not be waived or modified by Bank by course of performance, conduct, estoppel or
otherwise. 
 9.8 Demand; Protest. Except as otherwise provided in this Agreement, Borrower waives demand, protest,
notice of protest, notice of default or dishonor, notice of payment and nonpayment and any other notices relating to the Obligations. 
 10.
NOTICES. 
 Unless otherwise provided in this Agreement, all notices or demands by any party relating to this Agreement or any other
agreement entered into in connection herewith shall be in writing and (except for financial statements and other informational documents which may be sent by first-class mail, postage prepaid) shall be personally delivered or sent by a recognized
overnight delivery service, certified mail, postage prepaid, return receipt requested, or by telefacsimile to Borrower or to Bank, as the case may be, at its addresses set forth below: 
  

			
	 If to Borrower:
	  	INFINERA CORPORATION
		  	1322 Bordeaux Drive
		  	Sunnyvale, CA 94089
		  	Attn: Mr. Duston Williams, Chief Financial Officer
		  	FAX:
(        )                    

  

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	 If to Bank:
	  	UNITED COMMERCIAL BANK
		  	555 Montgomery Street
		  	San Francisco, CA 94111
		  	Attention: Technology Banking Group
		  	Contact Person: Johnny Lee
		  	Phone: 408-496-5406
		  	Contact Person: Karen Cheng
		  	Phone: 408-496-5403
		  	Fax: 408-748-1268

 The parties hereto may change the address at which they are to receive notices hereunder, by
notice in writing in the foregoing manner given to the other. 
 11. CHOICE OF LAW AND VENUE; JURY TRIAL WAIVER. 
 This Agreement shall be governed by, and construed in accordance with, the internal laws of the State of California, without regard to principles of
conflicts of law. Jurisdiction shall lie in the State of California. BANK AND BORROWER EACH ACKNOWLEDGE THAT THE RIGHT TO TRIAL BY JURY IS A CONSTITUTIONAL ONE, BUT THAT IT MAY BE WAIVED. EACH OF THEM, AFTER CONSULTING OR HAVING HAD THE OPPORTUNITY
TO CONSULT, WITH COUNSEL OF THEIR CHOICE, KNOWINGLY, VOLUNTARILY AND INTENTIONALLY WAIVES ANY RIGHT ANY OF THEM MAY HAVE TO A TRIAL BY JURY IN ANY LITIGATION BASED UPON OR ARISING OUT OF THIS AGREEMENT OR ANY RELATED INSTRUMENT OR LOAN DOCUMENT OR
ANY OF THE TRANSACTIONS CONTEMPLATED BY THIS AGREEMENT OR ANY COURSE OF CONDUCT, DEALING, STATEMENTS (WHETHER ORAL OR WRITTEN), OR ACTION OF ANY OF THEM. THESE PROVISIONS SHALL NOT BE DEEMED TO HAVE BEEN MODIFIED IN ANY RESPECT OR RELINQUISHED BY
BANK OR BORROWER, EXCEPT BY A WRITTEN INSTRUMENT EXECUTED BY EACH OF THEM. IF THIS JURY WAIVER IS FOR ANY REASON UNENFORCEABLE, BANK AND BORROWER SHALL RESOLVE ALL DISPUTES ARISING OUT OF THIS AGREEMENT BY BINDING ARBITRATION HELD IN ACCORDANCE WITH
THE COMMERCIAL ARBITRATION RULES OF THE AMERICAN ARBITRATION ASSOCIATION, SUCH ARBITRATION TO BE CONDUCTED IN SANTA CLARA COUNTY, CALIFORNIA. 
 12. GENERAL PROVISIONS. 
 12.1 Successors and Assigns. This Agreement shall bind and inure to the
benefit of the respective successors and permitted assigns of each of the parties and shall bind all persons who become bound as a debtor to this Agreement; provided, however, that neither this Agreement nor any rights hereunder may be assigned by
Borrower without Bank’s prior written consent, which consent may be granted or withheld in Bank’s sole discretion. Bank shall have the right without the consent of or notice to Borrower to sell, transfer, negotiate, or grant participation
in all or any part of, or any interest in, Bank’s obligations, rights and benefits hereunder. 
  

 -17- 








 12.2 Indemnification. Borrower shall defend, indemnify and hold harmless Bank and
its officers, employees, and agents against: (a) all obligations, demands, claims, and liabilities claimed or asserted by any other party in connection with the transactions contemplated by this Agreement; and (b) all losses or Bank
Expenses in any way suffered, incurred, or paid by Bank, its officers, employees and agents as a result of or in any way arising out of, following, or consequential to transactions between Bank and Borrower whether under this Agreement, or otherwise
(including without limitation reasonable attorneys fees and expenses), except for losses caused by Bank’s gross negligence or willful misconduct. 
 12.3 Time of Essence. Time is of the essence for the performance of all obligations set forth in this Agreement. 
 12.4 Severability of Provisions. Each provision of this Agreement shall be severable from every other provision of this Agreement for the purpose of determining the legal enforceability of any specific
provision. 
 12.5 Amendments in Writing, Integration. All amendments to or terminations of this Agreement or the other
Loan Documents must be in writing. All prior agreements, understandings, representations, warranties, and negotiations between the parties hereto with respect to the subject matter of this Agreement and the other Loan Documents, if any, are merged
into this Agreement and the Loan Documents. 
 12.6 Counterparts. This Agreement may be executed in any number of
counterparts and by different parties on separate counterparts, each of which, when executed and delivered, shall be deemed to be an original, and all of which, when taken together, shall constitute but one and the same Agreement. 
 12.7 Survival. All covenants, representations and warranties made in this Agreement shall continue in full force and effect so long
as any Obligations remain outstanding or Bank has any obligation to make any Credit Extension to Borrower. The obligations of Borrower to indemnify Bank with respect to the expenses, damages, losses, costs and liabilities described in
Section 12.2 shall survive until all applicable statute of limitations periods with respect to actions that may be brought against Bank have run. 
 12.8 Effect of Amendment and Restatement. This Agreement is intended to and does completely amend and restate, without novation, the Original Agreement. All security interests granted under the Original
Agreement are hereby confirmed and ratified and shall continue to secure all Obligations under this Agreement. 
 12.9
Confidentiality. In handling any confidential information, Bank and all employees and agents of Bank shall exercise the same degree of care that Bank exercises with respect to its own proprietary information of the same types to maintain the
confidentiality of any non-public information thereby received or received pursuant to this Agreement except that disclosure of such information may be made (i) to the subsidiaries or Affiliates of Bank in connection with their present or
prospective business relations with Borrower, (ii) to prospective transferees or purchasers of any interest in the Loans, provided that they have entered into a 

  

 -18- 








 
comparable confidentiality agreement in favor of Borrower and have delivered a copy to Borrower, (iii) as required by law, regulations, rule or order,
subpoena, judicial order or similar order, (iv) as may be required in connection with the examination, audit or similar investigation of Bank and (v) as Bank may determine in connection with the enforcement of any remedies hereunder.
Confidential information hereunder shall not include information that either: (a) is in the public domain or in the knowledge or possession of Bank when disclosed to Bank, or becomes part of the public domain after disclosure to Bank through no
fault of Bank; or (b) is disclosed to Bank by a third party, provided Bank does not have actual knowledge that such third party is prohibited from disclosing such information. 
 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed as of the date first above written. 
  

			
	INFINERA CORPORATION
		
	By:	 	/s/ Duston Williams
		
	Title:	 	CFO
	
	UNITED COMMERCIAL BANK
		
	By:	 	[signature illegible]
		
	Title:	 	SVP


  

 -19- 








 EXHIBIT A 
 DEFINITIONS 
 “Accounts” means all presently existing and hereafter arising accounts,
contract rights, payment intangibles and all other forms of obligations owing to Borrower arising out of the sale or lease of goods (including, without limitation, the licensing of software and other technology) or the rendering of services by
Borrower and any and all credit insurance, guaranties, and other security therefor, as well as all merchandise returned to or reclaimed by Borrower and Borrower’s Books relating to any of the foregoing. 
 “Advance” or “Advances” means a cash advance or cash advances under the Term Line. 
 “Affiliate” means, with respect to any Person, any Person that owns or controls directly or indirectly such Person, any Person that controls or
is controlled by or is under common control with such Person, and each of such Person’s senior executive officers, directors, and partners. 
 “Bank Expenses” means all reasonable costs or expenses (including reasonable attorneys’ fees and expenses, whether generated in-house or by outside counsel) incurred in connection with the preparation, negotiation,
administration, and enforcement of the Loan Documents; reasonable Collateral audit fees up to $5,000; and Bank’s reasonable attorneys’ fees and expenses (whether generated in-house or by outside counsel) incurred in amending, enforcing or
defending the Loan Documents (including fees and expenses of appeal), incurred before, during and after an Insolvency Proceeding, whether or not suit is brought. 
 “Borrower State” means Delaware, the state under whose laws Borrower is organized. 
 “Borrower’s Books” means all of Borrower’s books and records including: ledgers; records concerning Borrower’s assets or liabilities, the Collateral, business operations or financial condition; and all computer
programs, or tape files, and the equipment, containing such information. 
 “Borrowing Base” means an amount equal to 80% of the
Orderly Liquidation Value of Eligible Equipment, as determined by Bank with reference to a new appraisal satisfactory to Bank. 
 “Business Day” means any day that is not a Saturday, Sunday, or other day on which banks in the State of California are authorized or required to close. 
 “Cash” means unrestricted cash and cash equivalents. 
 “Change in Control” shall mean a transaction in which any “person” or “group” (within the meaning of Section 13(d) and 14(d)(2) of the Securities Exchange Act of 1934) becomes the
“beneficial owner” (as defined in Rule 13d-3 under the Securities Exchange Act of 1934), directly or indirectly, of a sufficient number of shares of all classes of stock then outstanding of Borrower ordinarily entitled to vote in the
election of directors, empowering such “person” or “group” to elect 










 
a majority of the Board of Directors of Borrower, who did not have such power before such transaction. 
 “Chief Executive Office State” means California, where Borrower’s chief executive office is located. 
 “Closing Date” means the date of this Agreement. 
 “Code” means the California Uniform Commercial Code as amended or supplemented from time to time. 
 “Collateral” means the property described on Exhibit C attached hereto and all Negotiable Collateral and Intellectual Property Collateral to the extent not described on Exhibit C, except to the extent any such property (i) is
nonassignable by its terms without the consent of the licensor thereof or another party (but only to the extent such prohibition on transfer is enforceable under applicable law, including, without limitation, Sections 9406 and 9408 of the Code),
(ii) the granting of a security interest therein is contrary to applicable law, provided that upon the cessation of any such restriction or prohibition, such property shall automatically become part of the Collateral, or (iii) constitutes
the capital stock of a controlled foreign corporation (as defined in the IRC), in excess of 65% of the voting power of all classes of capital stock of such controlled foreign corporations entitled to vote. 
 “Collateral State” means the state or states where the Collateral is located. 
 “Contingent Obligation” means, as applied to any Person, any direct or indirect liability, contingent or otherwise, of that Person with respect
to (i) any indebtedness, lease, dividend, letter of credit or other obligation of another, including, without limitation, any such obligation directly or indirectly guaranteed, endorsed, co-made or discounted or sold with recourse by that
Person, or in respect of which that Person is otherwise directly or indirectly liable; (ii) any obligations with respect to undrawn letters of credit, corporate credit cards or merchant services issued for the account of that Person; and
(iii) all obligations arising under any interest rate, currency or commodity swap agreement, interest rate cap agreement, interest rate collar agreement, or other agreement or arrangement designated to protect a Person against fluctuation in
interest rates, currency exchange rates or commodity prices; provided, however, that the term “Contingent Obligation” shall not include endorsements for collection or deposit in the ordinary course of business. The amount of any Contingent
Obligation shall be deemed to be an amount equal to the stated or determined amount of the primary obligation in respect of which such Contingent Obligation is made or, if not stated or determinable, the maximum reasonably anticipated liability in
respect thereof as determined by such Person in good faith; provided, however, that such amount shall not in any event exceed the maximum amount of the obligations under the guarantee or other support arrangement. 
 “Copyrights” means any and all copyright rights, copyright applications, copyright registrations and like protections in each work or
authorship and derivative work thereof, whether published or unpublished and whether or not the same also constitutes a trade secret, now or hereafter existing, created, acquired or held. 
  

 -A2- 








 “Credit Extension” means each Advance or other extension of credit or refinancing by Bank to or
for the benefit of Borrower hereunder. 
 “Eligible Equipment” means fixed Equipment that is acceptable to Bank from time to time,
valued at the liquidation value based on an appraisal satisfactory to Bank. 
 “Environmental Laws” means all laws, rules,
regulations, orders and the like issued by any federal state, local foreign or other governmental or quasi-governmental authority or any agency pertaining to the environment or to any hazardous materials or wastes, toxic substances, flammable,
explosive or radioactive materials, asbestos or other similar materials. 
 “Equipment” means all present and future machinery,
equipment, tenant improvements, furniture, fixtures, vehicles, tools, parts and attachments in which Borrower has any interest and which is not otherwise encumbered pursuant to the Permitted Indebtedness . 
 “ERISA” means the Employee Retirement Income Security Act of 1974, as amended, and the regulations thereunder. 
 “Event of Default” has the meaning assigned in Article 8. 
 “GAAP” means generally accepted accounting principles, consistently applied, as in effect from time to time. 
 “Indebtedness” means (a) all indebtedness for borrowed money or the deferred purchase price of property or services, including without limitation reimbursement and other obligations with respect to
surety bonds and letters of credit, (b) all obligations evidenced by notes, bonds, debentures or similar instruments, (c) all capital lease obligations and (d) all Contingent Obligations. 
 “Insolvency Proceeding” means any proceeding commenced by or against any Person or entity under any provision of the United States Bankruptcy
Code, as amended, or under any other bankruptcy or insolvency law, including assignments for the benefit of creditors, formal or informal moratoria, compositions, extension generally with its creditors, or proceedings seeking reorganization,
arrangement, or other relief. 
 “Intellectual Property Collateral” means all of Borrower’s right, title, and interest in and
to the following: 
 (a) Copyrights, Trademarks and Patents; 
 (b) Any and all trade secrets, and any and all intellectual property rights in computer software and computer software products now or hereafter existing, created, acquired or held; 
 (c) Any and all design rights which may be available to Borrower now or hereafter existing, created, acquired or held; 
  

 -A3- 








 (d) Any and all claims for damages by way of past, present and future infringement of any of the rights
included above, with the right, but not the obligation, to sue for and collect such damages for said use or infringement of the intellectual property rights identified above; 
 (e) All licenses or other rights to use any of the Copyrights, Patents or Trademarks, and all license fees and royalties arising from such use to the
extent permitted by such license or rights; 
 (f) All amendments, renewals and extensions of any of the Copyrights, Trademarks or Patents;
and 
 (g) All proceeds and products of the foregoing, including without limitation all payments under insurance or any indemnity or warranty
payable in respect of any of the foregoing. 
 “Inventory” means all present and future inventory in which Borrower has any
interest. 
 “Investment” means any beneficial ownership of (including stock, partnership or limited liability company interest or
other securities) any Person, or any loan, advance or capital contribution to any Person. 
 “IRC” means the Internal Revenue Code
of 1986, as amended, and the regulations thereunder. 
 “Lien” means any mortgage, lien, deed of trust, charge, pledge, security
interest or other encumbrance. 
 “Loan Documents” means, collectively, this Agreement, any note or notes executed by Borrower, and
any other document, instrument or agreement entered into in connection with this Agreement, all as amended or extended from time to time. 
 “Material Adverse Effect” means (i) a material adverse change in the business, operations, condition (financial or otherwise) of Borrower, (ii) a material impairment of the prospect of repayment of any portion of the
Obligations, (iii) a material impairment in the perfection or priority of Bank’s (A) first priority security interest in unencumbered presently existing or hereafter acquired Equipment and other fixed assets and all depository,
investment and securities accounts maintained at Bank and up to Four Million Dollars ($4,000,000) in unrestricted cash maintained at Bank, or (B) second priority security interest (behind the Lien of Silicon Valley Bank and Nomadics, Inc.) in
all other Collateral, including Intellectual Property Collateral (other than normal depreciation) or (iv) Bank determines, in good faith business judgment, that it is the clear intention of Borrower’s investors to not continue to fund
Borrower in the amounts and timeframe necessary to enable Borrower to satisfy the Obligations as they become due and payable. 
 “Negotiable Collateral” means all of Borrower’s present and future letters of credit of which it is a beneficiary, drafts, instruments (including promissory notes), securities, documents of title, and chattel paper, and
Borrower’s Books relating to any of the foregoing. 
  

 -A4- 








 “Obligations” means all debt, principal, interest, Bank Expenses and other amounts owed to Bank
by Borrower pursuant to this Agreement or any other agreement, whether absolute or contingent, due or to become due, now existing or hereafter arising, including any interest that accrues after the commencement of an Insolvency Proceeding and
including any debt, liability, or obligation owing from Borrower to others that Bank may have obtained by assignment or otherwise. 
 “Orderly Liquidation Value” means the liquidation value determined by Bank based on an appraisal satisfactory to Bank. 
 “Patents” means all patents, patent applications and like protections including without limitation improvements, divisions, continuations, renewals, reissues, extensions and continuations-in-part of the same. 
 “Periodic Payments” means all installments or similar recurring payments that Borrower may now or hereafter become obligated to pay to Bank
pursuant to the terms and provisions of any instrument, or agreement now or hereafter in existence between Borrower and Bank. 
 “Permitted Indebtedness” means: 
 (a) Indebtedness of Borrower in favor of Bank arising under this Agreement or any other
Loan Document; 
 (b) Indebtedness of Borrower that may be incurred from time to time arising under (i) the Loan and Security Agreement
dated December 29, 2004, by and among Silicon Valley Bank, Gold Hill Venture Lending 03, L.P. (“Gold Hill”), other lenders named therein and Borrower, as the same be amended from time to time (“Growth Capital Loan”),
(ii) Loan and Security Agreement dated as of December 29, 2004, between Silicon Valley Bank and Borrower, as the same may be amended from time to time (the “Operating Line”) and (iii) the Loan and Security Agreement dated as
of December 29, 2004, between Silicon Valley Bank and Borrower, as the same may be amended from time to time (the “Revolving Line” and together with the Operating Line and the Growth Capital Line, the “SVB Loan Agreements”);

 (c) Indebtedness existing on the Closing Date and disclosed in the Schedule; 
 (d) Indebtedness of Borrower to Little Optics, Inc. under the Nomadics Note in an aggregate principal amount not to exceed $4,500,000 provided that such
Indebtedness shall be repaid in full on or before October 1, 2007; 
 (e) Indebtedness not to exceed $500,000 in the aggregate in any
fiscal year of Borrower secured by a lien described in clause (d) of the defined term “Permitted Liens,” provided such Indebtedness does not exceed the lesser of the cost or fair market value of the equipment financed with such
Indebtedness; 
 (f) Subordinated Debt; 
 (g) Indebtedness to trade creditors incurred in the ordinary course of business; and 
  

 -A5- 








 (h) Extensions, refinancings and renewals of any items of Permitted Indebtedness, provided that the
principal amount is not increased or the terms modified to impose more burdensome terms upon Borrower or its Subsidiary, as the case may be. 
 “Permitted Investment” means: 
 (a) Investments existing on the Closing Date disclosed in the Schedule; and 

(b) Investments required under the SVB Loan Agreements; 
 (c)(i) Marketable direct obligations issued or unconditionally guaranteed by the United States of America or any agency or any State thereof maturing within one year from the date of acquisition thereof,
(ii) commercial paper maturing no more than one year from the date of creation thereof and currently having rating of at least A-2 or P-2 from either Standard & Poor’s Corporation or Moody’s Investors Service,
(iii) Bank’s certificates of deposit maturing no more than one year from the date of investment therein, and (iv) Bank’s money market accounts. 
 (d) Investments shown on the Perfection Certificate and existing on the Closing Date; 
 (e)(i) marketable direct obligations issued or unconditionally guaranteed by the United States or its agency or any state maturing within 1 year from its acquisition, (ii) commercial paper maturing no more than 1 year after its
creation and having the highest rating from either Standard & Poor’s Corporation or Moody’s Investors Service, Inc., (iii) Silicon Valley Bank’s certificates of deposit issued maturing no more than 1 year after issue,
and (iv) any other investments administered through the Lenders (as defined in the SVB Loan Agreements); 
 (f) Investments consisting
of the endorsement of negotiable instruments for deposit or collection or similar transactions in the ordinary course of Borrower; 
 (g)
Investments accepted in connection with Transfers permitted by Section 7.1; 
 (h) Investments of Subsidiaries in or to other
Subsidiaries or Borrower and Investments by Borrower in Infinera International Corporation (and its Subsidiaries Infinera Limited (U.K.), Infinera Asia Ltd. (Hong Kong) and Infinera KK (Japan)), Infinera India Private Limited in an aggregate amount
not to exceed Seven Hundred Thousand Dollars ($700,000.00) in any month; 
 (i) Investments consisting of (i) travel advances and
employee relocation loans and other employee loans and advances in the ordinary course of business, and (ii) loans to employees, officers or directors relating to the purchase of equity securities of Borrower or its Subsidiaries pursuant to
employee stock purchase plans or agreements approved by Borrowers’ Board of Directors; 
 (j) Investments (including debt obligations)
received in connection with the bankruptcy or reorganization of customers or suppliers and in settlement of delinquent obligations of, and other disputes with, customers or suppliers arising in the ordinary course of business; 
  

 -A6- 








 (k) Investments consisting of notes receivable of, or prepaid royalties and other credit extensions, to
customers and suppliers who are not Affiliates, in the ordinary course of business; provided that this paragraph (h) shall not apply to Investments of Borrower in any Subsidiary; 
 (1) Joint ventures or strategic alliances in the ordinary course of Borrower’s business consisting of the non-exclusive licensing of technology, the
development of technology or the providing of technical support, provided that any cash investments by Borrower do not exceed Two Fifty Thousand Dollars ($250,000) in the aggregate in any fiscal year; and 
 (m) Other Investments not otherwise permitted by Section 7.7 not exceeding Five Hundred Thousand Dollars ($500,000.00) in the aggregate outstanding
at any time. 
 “Permitted Liens” means the following: 
 (a) The first priority security interest of Silicon Valley Bank and Gold Hill (and their assigns) in all of Borrower’s property other than the
Equipment and all depository, investment and securities accounts maintained at Bank and up to Four Million Dollars ($4,000,000) in cash maintained at Bank, and the second priority security interest of Silicon Valley Bank and Gold Hill (and their
assigns) in such property; 
 (b) Any Liens existing on the Closing Date and disclosed in the Schedule (excluding Liens to be satisfied with
the proceeds of the Advances) or arising under this Agreement or the other Loan Documents; 
 (c) Liens for taxes, fees, assessments or other
governmental charges or levies, either not delinquent or being contested in good faith by appropriate proceedings and for which Borrower maintains adequate reserves, provided the same have no priority over any of Bank’s security interests;

 (d) Liens not to exceed $500,000 in the aggregate (i) upon or in any Equipment (other than Equipment financed by an Term Advance)
acquired or held by Borrower or any of its Subsidiaries to secure the purchase price of such Equipment or indebtedness incurred solely for the purpose of financing the acquisition or lease of such Equipment, or (ii) existing on such Equipment
at the time of its acquisition, provided that the Lien is confined solely to the property so acquired and improvements thereon, and the proceeds of such Equipment; 
 (e) Liens arising from judgments, decrees or attachments in circumstances not constituting an Event of Default under Sections 8.4 (attachment) or 8.8 (judgments); 
 (f) Liens in favor of other financial institutions arising in connection with Borrower’s deposit accounts held at such institutions to secured
standard fees for deposit services charged by, but not financing made available by such institutions, provided that Bank has a perfected security interest in the amounts held in such deposit accounts; 
  

 -A7- 








 (g) Other Liens not described above arising in the ordinary course of business and not having or not
reasonably likely to have a material adverse effect on Borrower and its Subsidiaries taken as a whole; 
 (h) Liens on assets purchased by
Borrower on August__, 2006 from Little Optics, Inc., a subsidiary of Nomadics, Inc., (but not other property) to secure Borrower’s obligations under the Nomadics Note (but no other obligations); and 
 (i) Liens incurred in connection with the extension, renewal or refinancing of the indebtedness secured by Liens of the type described in clauses
(a) through (g) above, provided that any extension, renewal or replacement Lien shall be limited to the property encumbered by the existing Lien and the principal amount of the indebtedness being extended, renewed or refinanced does not
increase. 
 “Permitted Transfer” means the conveyance, sale, lease, transfer or disposition by Borrower or any Subsidiary of:

 (a) Inventory in the ordinary course of business; 
 (b) licenses and similar arrangements for the use of the property of Borrower or its Subsidiaries in the ordinary course of business; 
 (c) worn-out or obsolete Equipment not financed with the proceeds of Term Advances; or 
 (d) other assets of
Borrower or its Subsidiaries that do not in the aggregate exceed $250,000 during any fiscal year. 
 “Person” means any individual,
sole proprietorship, partnership, limited liability company, joint venture, trust, unincorporated organization, association, corporation, institution, public benefit corporation, firm, joint stock company, estate, entity or governmental agency.

 “Prime Rate” means the variable rate of interest, per annum, most recently announced by Bank, as its “prime rate,”
whether or not such announced rate is the lowest rate available from Bank. 
 “Refinancing Advance” means the one time Advance in
an amount equal to the aggregate amount outstanding under the Original Agreement as of the Closing Date. 
 “Responsible Officer”
means each of the Chief Executive Officer, the Chief Operating Officer, the Chief Financial Officer and the Controller of Borrower. 
 “Schedule” means the schedule of exceptions attached hereto and approved by Bank, if any. 
 “SOS Reports” means
the official reports from the Secretaries of State of each Collateral State, Chief Executive Office State and the Borrower State and other applicable federal, state or local government offices identifying all current security interests filed in the
Collateral and Liens of record as of the date of such report. 
  

 -A8- 








 “Subordinated Debt” means any debt incurred by Borrower that is subordinated in writing to the
debt owing by Borrower to Bank on terms reasonably acceptable to Bank (and identified as being such by Borrower and Bank). 
 “Subsidiary” means any corporation, partnership or limited liability company or joint venture in which (i) any general partnership interest or (ii) more than 50% of the stock, limited liability company interest or joint
venture of which by the terms thereof ordinary voting power to elect the Board of Directors, managers or trustees of the entity, at the time as of which any determination is being made, is owned by Borrower, either directly or through an Affiliate.

 “Term Line” means a Credit Extension of up to $15,000,000. 
 “Term Maturity Date” means the third anniversary of the Closing Date. 
 “Total Liabilities” means at any date as of which the amount thereof shall be determined, all obligations that should, in accordance with GAAP
be classified as liabilities on the consolidated balance sheet of Borrower, including in any event, to the extent not already included, all Indebtedness. 
 “Trademarks” means any trademark and servicemark rights, whether registered or not, applications to register and registrations of the same and like protections, and the entire goodwill of the business of
Borrower connected with and symbolized by such trademarks. 
  

 -A9- 








 EXHIBIT B 
 EQUIPMENT TERM NOTE 
  

			
	$15,000,000.00	 	October 16, 2006
		 	Santa Clara, California

 For Value Received, the undersigned, INFINERA CORPORATION (“Borrower”), Hereby Promises
To Pay to the order of United Commercial Bank (the “Bank”) at its Principal Office located at 5201 Great American Parkway, Suite 300, Santa Clara, CA 95054, or at such other place as Bank may from time to time designate in writing, in
lawful money of the United States and in immediately available funds, the principal amount of Fifteen Million And 00/100 Dollars ($15,000,000.00) or so much of the Advances (as defined in the Loan Agreement (defined below)) as may be advanced from
time to time, together with interest from the date of disbursement computed on the principal balances hereof from time to time outstanding as set forth in the Loan and Security Agreement dated the date hereof by and between Bank and Borrower (the
“Loan Agreement”). The Loan Agreement is incorporated herein by this reference in its entirety. Capitalized terms used but not otherwise defined herein are used in this Equipment Term Note as defined in the Loan Agreement. 
 This Equipment Term Note (the “Note”) is the Note referred to in, and is entitled to the benefits of, the Loan Agreement. The Loan Agreement,
among other things, contains provisions for acceleration of the maturity of this Note upon the happening of certain stated events and also for prepayments on account of principal hereof prior to the maturity of this Note upon the terms and
conditions specified in the Loan Agreement. This Note is also secured by the Collateral described in the Loan Agreement, and reference to the Loan Agreement is hereby made for a description of the rights of Borrower and Bank in respect to such
Collateral. 
 Borrower further promises to pay interest on the unpaid principal amount hereof outstanding from time to time from the date
hereof until payment in full hereof at the rate (or rates) from time to time applicable to the Advances as determined in accordance with the Loan Agreement; provided, however, that upon the occurrence and during the continuance of an Event of
Default, Borrower shall, to the extent provided in the Loan Agreement, pay to Bank interest on the outstanding principal balance of the Advances and all other Obligations at the rate of interest applicable upon the occurrence and during the
continuance of an Event of Default as determined in accordance with the Loan Agreement. Interest shall be calculated on the basis of a three hundred sixty (360)-day year for the actual days elapsed. 
 Borrower waives demand, presentment and protest, and notice of demand, presentment, protest and nonpayment. Except as otherwise provided in the Loan
Agreement or other Loan Documents, Borrower waives all rights to notice and hearing of any kind upon the occurrence of an Event of Default prior to the exercise by Bank of its rights to repossess the Collateral without judicial process or to
replevy, attach or levy upon the Collateral without notice or hearing. 









 If this Note is not paid when due, whether at its specified or accelerated maturity date, Borrower
promises to pay all costs of collection and enforcement of this Note, including, but not limited to, reasonable attorneys’ fees and costs, incurred by Bank hereof on account of such collection or enforcement, whether or not suit is filed
hereon. 
 Principal and interest shall be payable in lawful money of the United States without setoff, demand or counterclaim. 

This Note shall be governed and construed in accordance with the laws of the State of California. 
 In Witness Whereof, the undersigned has executed and delivered this Note as of the date and year first above written. 
  

			
	INFINERA CORPORATION
		
	By:	 	  
		
	Title:	 	  


  

 -B2- 









			
	DEBTOR	 	INFINERA CORPORATION
		
	SECURED PARTY:	 	UNITED COMMERCIAL BANK

 EXHIBIT C 
 COLLATERAL DESCRIPTION ATTACHMENT 
 TO LOAN AND SECURITY AGREEMENT 
 All persona] property of Borrower (herein referred to as “Borrower” or “Debtor”) whether presently existing or hereafter created or
acquired, and wherever located, including, but not limited to: 
 (a) all accounts (including health-care-insurance receivables), chattel
paper (including tangible and electronic chattel paper), deposit accounts, documents (including negotiable documents), equipment (including all accessions and additions thereto), financial assets, general intangibles (including patents, trademarks,
copyrights, goodwill, payment intangibles and software), goods (including fixtures), instruments (including promissory notes), inventory (including all goods held for sale or lease or to be furnished under a contract of service, and including
returns and repossessions), investment property (including securities and securities entitlements), letter of credit rights, money, and all of Debtor’s books and records with respect to any of the foregoing, and the computers and equipment
containing said books and records; and 
 (b) any and all cash proceeds and/or noncash proceeds of any of the foregoing, including, without
limitation, insurance proceeds, and all supporting obligations and the security therefor or for any right to payment. All terms above have the meanings given to them in the California Uniform Commercial Code, as amended or supplemented from time to
time, including revised Division 9 of the Uniform Commercial Code-Secured Transactions. 









 EXHIBIT D 
 LOAN ADVANCE/PAYDOWN REQUEST FORM 
 DEADLINE FOR SAME DAY PROCESSING IS 3:30 P.M. Pacific time*

 FORMULA BASED LINES: DEADLINE FOR NEXT DAY PROCESSING IS 3:30 P.M. Pacific time 
 DEADLINE FOR TERM ADVANCES IS 3:30 P.M. Pacific time ** 
 DEADLINE FOR WIRE TRANSFERS IS 1:30 P.M., Pacific time 
 *At month end and the day before a holiday, the cut off time is 1:30
P.M., Pacific time 
 **Subject to 3 day advance notice. 
  

					
	TO: Loan Analysis	 	DATE:	 	TIME:
	FAX#:	 		 	

  

					
			
	FROM:	 	 INFINERA CORPORATION
 Borrower’s
Name
	  	TELEPHONE REQUEST (For Bank Use Only):
			
	FROM:	 		  	The following person is authorized to request the loan payment transfer/loan advance on the designated account and is known to me.
		 	Authorized Signer’s Name	  
			
	FROM:	 		  	 Authorized Request & Phone #
  
 Received by (Bank) & Phone #

		 	Authorized Signature (Borrower)	  
			
	PHONE #:	 		  	
		
	 FROM ACCOUNT #:
 (please include Note number,
if applicable)
	  	Authorized Signature (Bank)
	 TO ACCOUNT #:
 (please include Note number,
if applicable)
	  	

  

					
	REQUESTED TRANSACTION TYPE	 	REQUESTED DOLLAR AMOUNT	  	For Bank Use Only
			
	PRINCIPAL INCREASE * (ADVANCE)	 	$	  	Date Rec’d:
	PRINCIPAL PAYMENT (ONLY)	 	$	  	Time:
		 		  	Comp. Status:    Yes     No
	OTHER INSTRUCTIONS:	 		  	Status Date:
		 		  	Time:
		 		  	Approval:

 All representations and warranties of Borrower stated in the Loan Agreement are true, correct and complete in all
material respects as of the date of the telephone request for and advance confirmed by this Borrowing Certificate, including without limitation the representation that Borrower has paid for and owns the equipment financed by the Bank; provided,
however, that those representations and warranties the date expressly referring to another date shall be true, correct and complete in all material respects as of such date. 
 *IS THERE A WIRE REQUEST TIED TO THIS LOAN ADVANCE? (PLEASE CIRCLE ONE)    YES    NO 
 If YES, the Outgoing Wire Transfer Instructions must be completed below. 
  

							
	OUTGOING WIRE TRANSFER INSTRUCTIONS	  		  	For Reference Number	  	Bank Transfer Number
	The items marked with an asterisk (*) are required to be completed.
	*Beneficiary Name	  		  		  	
	*Beneficiary Account Number	  		  		  	
	*Beneficiary Address	  		  		  	
	Currency Type	  		  	US DOLLARS ONLY	  	
	*ABA Routing Number (9 Digits)	  		  		  	
	*Receiving Institution Name	  	Time:	  		  	
	*Receiving Institution Address	  	Approval:	  		  	
	*Wire Account	  	$	  		  	










 EXHIBIT E 
 COMPLIANCE CERTIFICATE 
  

	TO:	UNITED COMMERCIAL BANK 

  

	FROM:	INFINERA CORPORATION 

 The undersigned authorized officer
of INFINERA CORPORATION hereby certifies that in accordance with the terms and conditions of the Loan and Security Agreement between Borrower and Bank (the “Agreement”), (i) Borrower is in complete compliance for the period ending
                     with all required covenants except as noted below and (ii) all representations and warranties of Borrower stated in
the Agreement are true and correct as of the date hereof. Attached herewith are the required documents supporting the above certification. The Officer further certifies that these are prepared in accordance with Generally Accepted Accounting
Principles (GAAP) and are consistently applied from one period to the next except as explained in an accompanying letter or footnotes. 
 Please indicate compliance status by circling Yes/No under “Complies” column. 
  

							
	 Reporting Covenant
	  	 Required
	  	 	  	Complies
	 Monthly financial statements
	  	Monthly within 30 days	  	Yes	  	No
	 Annual (CPA Audited)
	  	FYE within 150 days	  	Yes	  	No
	 10K and 10Q
	  	(as applicable)	  	Yes	  	No
	 A/R & A/P Agings
	  	Monthly within 30 days	  	Yes	  	No
	 Equipment Appraisal
	  	Initial and Annual	  	Yes	  	No
				
	 Total amount of Borrower’s cash and investments
	  	Amount: $ ____________	  	Yes	  	No
	 Total amount of Borrower’s cash and investments maintained with Bank
	  	

Amount: $ ____________	  	Yes	  	No

  

			
	Comments Regarding Exceptions: See Attached	  	BANK USE ONLY
		
	Sincerely,	  	Received by:___________________________________
		
		  	AUTHORIZED SIGNER
		
	  	  	Date: ________________________________________
		
	SIGNATURE	  	
		
		  	Verified: _________________________________
		
	  	  	AUTHORIZED SIGNER
		
	TITLE	  	
		
	  	  	Date: ________________________________________
	DATE	  	Compliance Status            Yes            No