Exhibit 10.30


 


LOAN MODIFICATION AGREEMENT


 


This Loan Modification
Agreement is entered into as of June 13, 2002, by and between PHARSIGHT, INC.
(the “Borrower”) and Silicon Valley Bank (“Bank”).


1.             DESCRIPTION OF EXISTING OBLIGATIONS: Among other
Obligations which may be owing by Borrower to Bank, Borrower is indebted to
Bank pursuant to, among other documents, a Loan and Security Agreement, dated
June 13, 2001, as may be amended from time to time, (the “Domestic Loan
Agreement”).  The Loan Agreement provides
for, among other things, a Committed Revolving Line in the original principal
amount of Two Million Five Hundred Thousand Dollars ($2,500,000) and a
Committed Term Loan in the original principal amount of Three Million Five
Hundred Thousand Dollars ($3,500,000). Furthermore, Borrower is indebted to
Bank pursuant to, among other documents, an Export-Import Bank Loan and
Security Agreement, dated June 13, 2001, as may be amended from time to time
(the “EXIM Loan Agreement”).  The EXIM
Loan Agreement provided for, among other things, an EXIM Committed Line in the
original principal amount of One Million Five Hundred Thousand Dollars
($1,500,000).  The Domestic Loan
Agreement and the EXIM Loan Agreement are collectively defined as the Loan
Agreements. Defined terms used but not otherwise defined herein shall have the
same meanings as set forth in the Loan Agreements.


Hereinafter, all
indebtedness owing by Borrower to Bank shall be referred to as the
“Obligations.”


2.             DESCRIPTION OF COLLATERAL. Repayment of the
Obligations is secured by the Collateral as described in the Loan
Agreements.   Additionally, repayment of
the EXIM Committed Line is guaranteed by the Export-Import Bank of the United
States “EXIM Bank” pursuant to a Master Guarantee Agreement between EXIM Bank
and Bank.


Hereinafter, the
above-described security documents and guaranties, together with all other
documents securing repayment of the Obligations shall be referred to as the
“Security Documents”.  Hereinafter, the
Security Documents, together with all other documents evidencing or securing
the Obligations shall be referred to as the “Existing Loan Documents”.


3.                                       DESCRIPTION OF
CHANGE IN TERMS.


A.           Modification(s)
to Domestic Loan Agreement.


1.               The following defined term
under Section 13.1 entitled “Definitions” is hereby amended to read as follows:


“Revolving
Maturity Date” is July 13, 2002.


B.           Modification
of EXIM Loan Agreement.


1.                    The following defined term
under Section 13.1 entitled “Definitions” is hereby amended to read as follows:


“EXIM
Maturity Date” is July 13, 2002.


4.             CONSISTENT CHANGES.  The Existing Loan Documents are hereby amended wherever necessary
to reflect the changes described above.


5.             NO DEFENSES OF BORROWER.  Borrower agrees that, as of the date hereof,
it has no defenses against paying any of the Obligations.


6.             CONTINUING
VALIDITY.  Borrower understands and
agrees that in modifying the existing Obligations, Bank is relying upon
Borrower’s representations, warranties, and agreements, as set forth in the


 


1

















 


Existing Loan
Documents.  Except as expressly modified
pursuant to this Loan Modification Agreement, the terms of the Existing Loan
Documents remain unchanged and in full force and effect.  Bank’s agreement to modifications to the
existing Obligations pursuant to this Loan Modification Agreement in no way
shall obligate Bank to make any future modifications to the Obligations.  Nothing in this Loan Modification Agreement
shall constitute a satisfaction of the Obligations.  It is the intention of Bank and Borrower to retain as liable
parties all makers and endorsers of Existing Loan Documents, unless the party
is expressly released by Bank in writing. 
Unless expressly released herein, no maker, endorser, or guarantor will
be released by virtue of this Loan Modification Agreement.  The terms of this paragraph apply not only
to this Loan Modification Agreement, but also to all subsequent loan
modification agreements.


7.             CONDITIONS. 
The effectiveness of this Loan Modification Agreement is conditioned
upon payment of the Loan Fee.


This
Loan Modification Agreement is executed as of the date first written above.


 


	
  BORROWER:

  	
   

  	
  BANK:

  
	
   

  	
   

  	
   

  
	
  PHARSIGHT, INC.

  	
   

  	
  SILICON VALLEY BANK

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  By:

  	
   

  	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
   

  
	
  Name:

  	
   

  	
   

  	
  Name:

  	
   

  
	
   

  	
   

  	
   

  
	
  Title:

  	
   

  	
   

  	
  Title:

  	
   

  



 


 


2

















 


 


[GRAPHIC LOGO]


 


SILICON VALLEY BANK


PRO FORMA INVOICE FOR LOAN CHARGES


	
  BORROWER:

  	
   

  	
  PHARSIGHT, INC.

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  LOAN
  OFFICER:

  	
   

  	
  Ron Kundich

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  DATE:

  	
   

  	
  June 13, 2002

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Documentation Fee

  	
   

  	
  $

  	
  250.00

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  TOTAL FEE DUE

  	
   

  	
  $

  	
  250.00

  	
   

  



 


Please indicate the method of
payment:


{          }   A check for the total amount is attached.


{          }   Debit DDA #                                          for the total amount.


{          }   Loan proceeds


 


	
   

  	
   

  	
   

  	
   

  
	
  Borrower

  	
   

  	
  (Date)

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Silicon
  Valley Bank

  	
   

  	
  (Date)

  	
   

  
	
  Account
  Officer’s Signature

  	
   

  	
   

  	
   

  



 


 


3