Document:

Exhibit 10.6.4

 

AMENDMENT NUMBER THREE TO LOAN AND SECURITY AGREEMENT

 

This AMENDMENT NUMBER THREE TO LOAN AND SECURITY
AGREEMENT (“Amendment”), is entered into as of February 9, 2009, by and
among Comerica Bank (“Bank”), Convio, Inc., a Delaware corporation (“Parent”),
and certain of Parent’s Subsidiaries signatory hereto (collectively, jointly
and severally, with Parent, “Borrowers” and each individually a “Borrower”), in
light of the following:

 

A.                                   Borrowers and
Bank previously entered into that certain Loan and Security Agreement, dated as
of October 26, 2007 (as previously amended by that certain Amendment
Number One to Loan and Security Agreement dated as of January 14, 2008 and
that certain Amendment Number Two to Loan and Security Agreement dated as of February 15,
2008, the “Agreement”).

 

B.                                     In connection
with the Agreement, Borrowers and Bank entered into various other agreements
(such agreements, together with the Agreement, are collectively referred to
herein as the “Loan Documents”).

 

C.                                     Borrowers and
Bank desire to amend the Agreement pursuant to the terms and conditions herein.

 

Borrowers and Bank hereby amend and supplement the
Agreement as follows:

 

1.                                       Definitions. 
All initially capitalized terms used in this Amendment shall have the
meanings given to them in the Agreement unless specifically defined herein.

 

2.                                       Amendment.  The following
definition as set forth in Exhibit A to the Agreement is hereby amended in
its entirety to read as follows:

 

“Letter of Credit Sublimit” means a sublimit for Letters of Credit
under the Revolving Line not to exceed $3,000,000.

 

3.                                       Representations and Warranties. 
Borrowers hereby affirm to Bank that all of Borrowers’ representations
and warranties set forth in the Agreement are true, complete and accurate in all
respects as of the date hereof (after giving effect to the amendments provided
herein).

 

4.                                       No Defaults. 
Borrowers hereby affirm to Bank that, after giving effect to this
Amendment, no Event of Default has occurred and is continuing as of the date
hereof (after giving effect to the amendments provided herein).

 

5.                                       Condition Precedent. 
The effectiveness of this Amendment is expressly conditioned upon
receipt by Bank of a copy of this Amendment duly executed by each of the
parties hereto.

 

6.                                       Costs and Expenses. 
Borrowers shall pay to Bank all of Bank’s out-of-pocket costs and
expenses (including, without limitation, the fees and expenses of its counsel,
search fees, filing and recording fees, documentation fees, appraisal fees, and
other fees) arising in connection with the preparation, execution, and delivery
of this Amendment and all related documents.

 

7.                                       Limited Effect. 
In the event of a conflict between the terms and provisions of this
Amendment and the terms and provisions of the Agreement, the terms and
provisions of this Amendment shall govern. 
In all other respects, the Agreement, as amended and supplemented
hereby, shall remain in full force and effect.

 

8.                                       Choice of Law. 
This Amendment shall be governed by, construed and interpreted in accordance
with the internal laws of the State of California, without regard to principles
of conflicts of law.

 

9.                                       Counterparts;
Effectiveness.  This Amendment may be executed in any number
of counterparts and by different parties on separate counterparts, each of
which when so executed and delivered shall be deemed to be an original.  All such counterparts, taken together, shall
constitute but one and the same Amendment. 
This 

 

1

 

Amendment shall become
effective upon the execution of a counterpart of this Amendment by each of the
parties hereto.

 

[remainder of page intentionally left blank]

 

2

 

IN WITNESS WHEREOF, the parties hereto have caused
this Amendment to be duly executed by their authorized representatives the day
and year first above written.

 

	
   

  	
  CONVIO, INC.

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ James R. Offerdahl

  
	
   

  	
  Name:

  	
  James R. Offerdahl

  
	
   

  	
  Title: 

  	
  CFO

  
	
   

  	
   

  	
   

  
	
   

  	
  GETACTIVE SOFTWARE, INC.

  
	
   

  	
   

  	
   

  
	
   

  	
  By: 

  	
  /s/ James R. Offerdahl

  
	
   

  	
  Name:

  	
  James R. Offerdahl

  
	
   

  	
  Title: 

  	
  Treasurer & CFO

  
	
   

  	
   

  	
   

  
	
   

  	
  COMERICA BANK

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Donna Day

  
	
   

  	
  Name:

  	
  Donna Day

  
	
   

  	
  Title: 

  	
  Vice President

  

 

Amendment Number Three to Loan and Security
Agreement

 

S-1Exhibit 10.6.5

 

AMENDMENT NUMBER FOUR TO LOAN AND SECURITY AGREEMENT

 

This AMENDMENT NUMBER FOUR TO LOAN AND SECURITY
AGREEMENT (“Amendment”), is entered into as of July 31, 2009, by and among
Comerica Bank (“Bank”), Convio, Inc., a Delaware corporation (“Parent”),
and certain of Parent’s Subsidiaries signatory hereto (collectively, jointly
and severally, with Parent, “Borrowers” and each individually a “Borrower”), in
light of the following:

 

A.                                   Borrowers and
Bank previously entered into that certain Loan and Security Agreement, dated as
of October 26, 2007 (as previously amended by that certain Amendment
Number One to Loan and Security Agreement dated as of January 14, 2008,
that certain Amendment Number Two to Loan and Security Agreement dated as of February 15,
2008, and that certain Amendment Number Three to Loan and Security Agreement
dated as of January     , 2009, the “Agreement”).

 

B.                                     In connection
with the Agreement, Borrowers and Bank entered into various other agreements
(such agreements, together with the Agreement, are collectively referred to
herein as the “Loan Documents”).

 

C.                                     Borrowers and
Bank desire to amend the Agreement pursuant to the terms and conditions herein.

 

Borrowers and Bank hereby amend and supplement the
Agreement as follows:

 

1.                                       Definitions. 
All initially capitalized terms used in this Amendment shall have the
meanings given to them in the Agreement unless specifically defined herein.

 

2.                                       Amendments.

 

(a)                                  The following definitions as set forth in
Exhibit A to the Agreement are hereby amended in their entirety to read as
follows:

 

““Non-Borrowing Base Amount” means an amount equal to
$1,000,000.”

 

““Revolving Line” means a Credit Extension of up to
$10,000,000 (inclusive of any amounts outstanding under the Letter of Credit
Sublimit).”

 

““Revolving Maturity Date” means April 26, 2011.”

 

(b)                                 Clause (c) to the definition of “Permitted
Indebtedness” as set forth in Exhibit A to the Agreement are hereby
amended in their entirety to read as follows:

 

“(c)                            Indebtedness not to exceed $2,500,000 in
the aggregate in any fiscal year (other than Indebtedness owed to ATEL, in
which case such Indebtedness shall not exceed $320,130.86) secured by a lien
described in clause (c) 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;”

 

(c)                                  Clause (c) to the definition of “Permitted
Liens” as set forth in Exhibit A to the Agreement are hereby amended in
their entirety to read as follows:

 

“(c)                            Liens not to exceed $2,500,000 in the
aggregate (other than Liens in favor of ATEL, in which case such Liens shall
not exceed $320,130.86) (i) upon or in any Equipment (other than Equipment
financed by an Equipment Advance) acquired or held by Borrowers 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 

 

1

 

Equipment;”

 

(d)                                 The definition of “Deferred Revenue” is
hereby added to Exhibit A to the Agreement in proper alphabetical order to
read as follows:

 

“Deferred Revenue” means, as determined in accordance
with GAAP, all amounts due from a customer, but not yet recognized as revenue
as set forth in each Borrower’s balance sheet.

 

(e)                                  Section 2.3(a) of the Agreement
is hereby amended in its entirety to read as follows:

 

“(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 Daily
Adjusting LIBOR Rate set forth in the Daily Adjusting LIBOR Addendum to this
Agreement.

 

(ii)                                  Equipment Advances. 
Except as set forth in Section 2.3(b), the Equipment Advances shall
bear interest, on the outstanding daily balance thereof, at a variable rate
equal to the Daily Adjusting LIBOR Rate set forth in the Daily Adjusting LIBOR
Addendum to this Agreement.”

 

(f)                                    Section 6.2(d) of the Agreement
is hereby amended in its entirety to read as follows:

 

“(d)                           Bank
shall have a right from time to time hereafter to audit Borrowers’ Accounts and
appraise Collateral at Borrowers’ expense, provided that such audits or
appraisals will be conducted no more often than once every 12 months and the
reimbursable expense shall be limited to $3,000 per audit or appraisal; provided, however,
if Borrowers fail to maintain a ratio of Cash to all Indebtedness to Bank of at
least 1.50 to 1.00, then the frequency of such audits shall be once every 6
months; provided further, however,
that if an Event of Default has occurred and is continuing, the frequency of
such audits shall not be limited and shall be at Borrower’s expense.”

 

(g)                                 Section 6.2(e) of the Agreement
is hereby amended in its entirety to read as follows:

 

“(e)                            On the later to occur of (i) February 15th
of each year or (ii) the day immediately following the date of the first
board meeting of each calendar year, Administrative Borrower shall deliver to
Bank board approved income statement and balance sheet projections for each
Borrower’s following fiscal year.  Any
board approved changes to such projections shall be delivered to Bank within 30
days of such board approval.”

 

(h)                                 Section 6.7 of the Agreement is
hereby amended in its entirety to read as follows:

 

“6.7                           Financial
Covenants.  Except for the liquidity
ratio set forth in Section 6.7(c), which Borrowers shall maintain upon the
occurrence and continuation of the Liquidity Event, Borrowers shall at all
times maintain, on a consolidated and consolidating basis, the following
financial ratios and covenants:

 

(a)                                  Minimum
EBITDA.  Borrowers’ EBITDA, to be
measured on a trailing twelve (12) month basis as of the last day of the
applicable period set forth in the table below, shall not be less than the
following:

 

2

 

	
  Period

  	
   

  	
  Minimum EBITDA

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  For the fiscal quarter
  ending March 31, 2009

  	
   

  	
  $

  	
  500,000

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  For the fiscal quarter
  ending June 30, 2009

  	
   

  	
  $

  	
  1,500,000

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  For the fiscal quarter
  ending September 30, 2009

  	
   

  	
  $

  	
  2,000,000

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  For the fiscal quarter
  ending December 31, 2009

  	
   

  	
  $

  	
  2,500,000

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  For the fiscal quarter
  ending March 31, 2010

  	
   

  	
  $

  	
  2,500,000

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  For the fiscal quarter
  ending June 30, 2010

  	
   

  	
  $

  	
  2,500,000

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  For the fiscal quarter
  ending September 30, 2010

  	
   

  	
  $

  	
  2,500,000

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  For the fiscal quarter
  ending December 31, 2010 and for each fiscal quarter ending thereafter

  	
   

  	
  $

  	
  3,500,000

  	
   

  

 

(b)                                 Minimum Cash. 
A balance of Cash at Bank and Cash at Bank’s Affiliates covered by a
control agreement of not less $3,000,000 in a non-interest bearing account;
provided, however, at any time an Initial Public Offering is made Borrowers
shall maintain an additional balance of Cash at Bank and Cash at Bank’s
Affiliates covered by a control agreement of not less $7,000,000.

 

(c)                                  Liquidity Ratio. 
Upon the occurrence and continuation of the Liquidity Event, a ratio of
Cash plus 75% of Eligible Accounts to all Indebtedness to Bank of at least 1.50
to 1.00.”

 

(d)                                 Deferred Revenue. 
An aggregate balance of Deferred Revenue of at least $13,000,000.”

 

(i)                                     Borrowers’ address set forth in Section 10
of the Agreement is hereby amended, in pertinent part, to read as follows:  “11501 Domain Drive, Suite 200; Austin,
TX 78758”.

 

(j)                                     The Schedule of Exceptions attached to
the Agreement is hereby supplemented by adding the following Inbound Licenses
for Convio in numerical order under such heading:

 

“17)                          AppExchange Partner Master Agreement
between Salesforce and Convio, Inc, effective March 5, 2008 as amended
from time to time

 

18)                                Subscription Customer Agreement between
Big Machines and Convio, effective December 1, 2008

 

19)                                Integrated Software Products Platinum
Partner Agreement between Pervasive and Convio, effective November 14,
2008”

 

3.                                       References to Horizon. 
The parties hereby agree that all references to “Horizon” in the Loan
Agreement (together with any and all other agreements, instruments, and
documents executed in connection therewith) are hereby deleted in their
entirety without replacement and the same are of no further force or effect.

 

4.                                       Exhibits.  The Exhibits
to the Agreement are hereby updated and superseded by the Exhibits to this
Amendment as follows:  (i) Exhibit D
to this Amendment (Borrowing Base Certificate) supersedes and replaces Exhibit D
to the Agreement, and (ii) Exhibit E to this Amendment (Compliance
Certificate) supersedes and replaces Exhibit E to the Agreement.

 

5.                                       Representations and Warranties. 
Borrowers hereby affirm to Bank that all of Borrowers’ representations
and warranties set forth in the Agreement are true, complete and accurate in
all respects as of the date hereof (after giving effect to the amendments
provided herein).  Borrowers hereby
represent and warrant to 

 

3

 

Bank that all
Indebtedness outstanding in connection with that certain Venture Loan and
Security Agreement, dated December 27, 2005, between Horizon Technology
Funding Company LLC, as lender, and Convio, Inc., as borrower, has been
paid in full and the same, together with all commitments to extend credit thereunder,
have been terminated.

 

6.                                       No Defaults. 
Borrowers hereby affirm to Bank that, after giving effect to this
Amendment, no Event of Default has occurred and is continuing as of the date
hereof (after giving effect to the amendments provided herein).

 

7.                                       Condition Precedent. 
The effectiveness of this Amendment is expressly conditioned upon
receipt by Bank of the following, each in form and substance satisfactory to
Bank:

 

(a)                                  a copy of this Amendment duly executed by
each of the parties hereto;

 

(b)                                 a copy of that certain Daily Adjusting
LIBOR Addendum duly executed by Borrowers;

 

(c)                                  a copy of the board approved income
statement and balance sheet projections for each Borrower’s 2009 fiscal year;

 

(d)                                 a copy of each Amended and Restated
Warrant  duly executed by Parent; and

 

(e)                                  confirmation that the Liens in favor of
Horizon Technology Funding Company LLC have been terminated in full, which may
be confirmed with an “of record” UCC search with the Secretary of State for the
applicable jurisdiction evidencing that such Liens have been terminated.

 

8.                                       Costs and Expenses. 
Borrowers shall pay to Bank all of Bank’s out-of-pocket costs and
expenses (including, without limitation, the fees and expenses of its counsel,
search fees, filing and recording fees, documentation fees, appraisal fees, and
other fees) arising in connection with the preparation, execution, and delivery
of this Amendment and all related documents.

 

9.                                       Limited Effect. 
In the event of a conflict between the terms and provisions of this
Amendment and the terms and provisions of the Agreement, the terms and
provisions of this Amendment shall govern. 
In all other respects, the Agreement, as amended and supplemented
hereby, shall remain in full force and effect.

 

10.                                 Choice of Law. 
This Amendment shall be governed by, construed and interpreted in
accordance with the internal laws of the State of California, without regard to
principles of conflicts of law.

 

11.                                 Counterparts;
Effectiveness.  This Amendment may be executed in any number
of counterparts and by different parties on separate counterparts, each of
which when so executed and delivered shall be deemed to be an original.  All such counterparts, taken together, shall
constitute but one and the same Amendment. 
This Amendment shall become effective upon the execution of a
counterpart of this Amendment by each of the parties hereto.

 

[remainder of page intentionally left blank]

 

4

 

IN WITNESS WHEREOF, the parties hereto have caused
this Amendment to be duly executed by their authorized representatives the day
and year first above written.

 

	
   

  	
  CONVIO, INC.

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ James R. Offerdahl

  
	
   

  	
  Name:

  	
  James R. Offerdahl

  
	
   

  	
  Title:

  	
  CFO

  
	
   

  	
   

  	
   

  
	
   

  	
  GETACTIVE SOFTWARE, INC.

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ James R. Offerdahl

  
	
   

  	
  Name:

  	
  James R. Offerdahl

  
	
   

  	
  Title:

  	
  CFO

  
	
   

  	
   

  	
   

  
	
   

  	
  COMERICA BANK

  
	
   

  	
   

  	
   

  
	
   

  	
  By: 

  	
  /s/ Donna Day

  
	
   

  	
  Name: 

  	
  Donna Day

  
	
   

  	
  Title: 

  	
  Vice President

  

 

Amendment Number Four to Loan and Security Agreement

 

S-1

 

EXHIBIT D

 

BORROWING BASE
CERTIFICATE

 

	
  Borrowers:

  	
  CONVIO, INC., a
  Delaware corporation,and certain of its Subsidiaries signatory to the Loan
  Agreement  

  	
   

  	
  Comerica
  Bank

  Technology &
  Life Sciences Division

  Loan
  Analysis Department

  300
  W. Sixth Street

  Suite 1300

  Austin,
  TX 78701

  Phone:
  (512) 427-7107

  
	
  Total
  Commitment Amount: $11,645,140.57

  	
   

  	
  Fax:
  (512) 427-7178

  

 

	
  ACCOUNTS
  RECEIVABLE

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  1.

  	
  Accounts
  Receivable Book Value as of

  	
   

  	
   

  	
   

  	
  $

  	
   

  
	
  2.

  	
  Additions
  (please explain on reverse)

  	
   

  	
   

  	
   

  	
  $

  	
   

  
	
  3.

  	
  TOTAL ACCOUNTS
  RECEIVABLE

  	
   

  	
   

  	
   

  	
  $

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  ACCOUNTS
  RECEIVABLE DEDUCTIONS (without duplication)

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  4.

  	
  Amounts over 90
  days due

  	
   

  	
  $

  	
   

  	
   

  	
   

  
	
  5.

  	
  Balance of 25%
  over 90 day accounts

  	
   

  	
  $

  	
   

  	
   

  	
   

  
	
  6.

  	
  Concentration
  Limits of 25%

  	
   

  	
  $

  	
   

  	
   

  	
   

  
	
  7.

  	
  Foreign Accounts

  	
   

  	
  $

  	
   

  	
   

  	
   

  
	
  8.

  	
  Governmental
  Accounts

  	
   

  	
  $

  	
   

  	
   

  	
   

  
	
  9.

  	
  Contra Accounts

  	
   

  	
  $

  	
   

  	
   

  	
   

  
	
  10.

  	
  Promotional or
  Demo Accounts

  	
   

  	
  $

  	
   

  	
   

  	
   

  
	
  11.

  	
  Intercompany/Employee
  Accounts

  	
   

  	
  $

  	
   

  	
   

  	
   

  
	
  12.

  	
  Other (please
  explain on reverse)

  	
   

  	
  $

  	
   

  	
   

  	
   

  
	
  13.

  	
  TOTAL ACCOUNTS
  RECEIVABLE DEDUCTIONS

  	
   

  	
   

  	
   

  	
  $

  	
   

  
	
  14.

  	
  Eligible
  Accounts (#3 minus #13)

  	
   

  	
   

  	
   

  	
  $

  	
   

  
	
  15.

  	
  LOAN VALUE OF
  ACCOUNTS (80% of #14)

  	
   

  	
   

  	
   

  	
  $

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  BALANCES

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  16.

  	
  Maximum Loan
  Amount

  	
   

  	
   

  	
   

  	
  $

  	
  10,000,000

  	
   

  
	
  17.

  	
  Total Funds
  Available (Lesser of #16 or #15)

  	
   

  	
   

  	
   

  	
  $

  	
   

  
	
  18.

  	
  Present balance
  owing on Line of Credit

  	
   

  	
   

  	
   

  	
  $

  	
   

  
	
  19.

  	
  Outstanding
  under Sublimits (e.g., Letters of Credit)

  	
   

  	
   

  	
   

  	
  $

  	
   

  
	
  20.

  	
  Non-Borrowing
  Base Amount

  	
   

  	
  $

  	
  1,000,000

  	
   

  	
   

  	
   

  
	
  21.

  	
  RESERVE POSITION
  (#17 minus #18 and #19, plus 20)

  	
   

  	
   

  	
   

  	
  $

  	
   

  
									

 

The
undersigned represents and warrants that the foregoing is true, complete and
correct, and that the information reflected in this Borrowing Base Certificate
complies in all material respects with the representations and warranties set
forth in the Loan and Security Agreement between the undersigned and Comerica
Bank.

 

Very
truly yours,

 

	
  CONVIO, INC., 

  	
   

  	
   

  	
  BANK USE ONLY

  
	
  as Administrative Borrower

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Rec’d
  by:  

  	
   

  
	
  Authorized Signer  

  	
   

  	
  Date:  

  	
   

  
	
  Name:

  	
   

  	
   

  	
  Reviewed
  by:  

  	
   

  
	
  Title:

  	
   

  	
   

  	
  Date:

  	
   

  

 

 

EXHIBIT E

 

COMPLIANCE CERTIFICATE

 

	
  Please
  send all Required Reporting to:

  	
  Comerica
  Bank

  Technology &
  Life Sciences Division

  Loan
  Analysis Department

  300
  W. Sixth Street

  Suite 1300

  Austin,
  TX 78701

  Phone:
  (512) 427-7107

  Fax:
  (512) 427-7178

  
	
  FROM:

  	
  CONVIO,
  INC.,

  as
  Administrative Borrower

  	
   

  
			

 

The undersigned Responsible
Officer of Convio, Inc., a Delaware corporation (“Administrative Borrower”),
hereby certifies that in accordance with the terms and conditions of the Loan
and Security Agreement among Borrowers and Bank (the “Agreement”), (i) Borrowers
are in complete compliance for the period ending
                        
with all required covenants, except as noted below and (ii) all representations
and warranties of Borrowers stated in the Agreement are true and correct in all
material respects as of the date hereof; provided, however, that those representations and
warranties which expressly refer to another date shall be true, correct and
complete in all material respects as of such date.  Attached herewith are the required documents
supporting the above certification.  The
undersigned Responsible 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 COVENANTS

  	
   

  	
  REQUIRED

  	
   

  	
  COMPLIES

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  CPA
  Audited, Unqualified F/S

  	
   

  	
  Annually,
  within 180 days of FYE

  	
   

  	
  YES

  	
   

  	
  NO

  	
   

  
	
  Intellectual
  Property Report

  	
   

  	
  Quarterly,
  within 30 days

  	
   

  	
  YES

  	
   

  	
  NO

  	
   

  
	
  Company
  Prepared F/S

  	
   

  	
  Monthly,
  within 30 days

  	
   

  	
  YES

  	
   

  	
  NO

  	
   

  
	
  Borrowing
  Base Certificate

  	
   

  	
  Monthly,
  within 30 days

  	
   

  	
  YES

  	
   

  	
  NO

  	
   

  
	
  Compliance
  Certificate

  	
   

  	
  Monthly,
  within 30 days

  	
   

  	
  YES

  	
   

  	
  NO

  	
   

  
	
  A/P
  Aging

  	
   

  	
  Monthly,
  within 30 days

  	
   

  	
  YES

  	
   

  	
  NO

  	
   

  
	
  A/R
  Aging

  	
   

  	
  Monthly,
  within 30 days

  	
   

  	
  YES

  	
   

  	
  NO

  	
   

  
	
  Compliance
  Certificate

  	
   

  	
  Monthly,
  within 30 days

  	
   

  	
  YES

  	
   

  	
  NO

  	
   

  

 

	
  FINANCIAL COVENANTS

  	
   

  	
  REQUIRED

  	
   

  	
  ACTUAL

  	
   

  	
  COMPLIES

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  TO BE TESTED QUARTERLY, UNLESS
  OTHERWISE NOTED:

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Minimum
  EBITDA

  	
   

  	
  In accordance with the amounts set forth in
  Section 6.7(a) of the Agreement.

  	
   

  	
  $

  	
   

  	
  YES

  	
   

  	
  NO

  	
   

  
	
  Minimum
  Cash

  	
   

  	
  $3,000,000 at all times; An additional $7,000,000 upon an Initial
  Public Offering.

  	
   

  	
  $

  	
   

  	
  YES

  	
   

  	
  NO

  	
   

  
	
  Liquidity

  	
   

  	
  1.50:1.00

  	
   

  	
  $

  	
   

  	
  YES

  	
   

  	
  NO

  	
   

  
	
  Deferred
  Revenue

  	
   

  	
  $13,000,000

  	
   

  	
  $

  	
   

  	
  YES

  	
   

  	
  NO

  	
   

  

 

Please Enter Below Comments
Regarding Covenant Violations:                                                                                

 

 

The undersigned Responsible
Officer further acknowledges that at any time Borrowers are not in material
compliance with all the terms set forth in the Agreement, including, without
limitation, the financial covenants, at Bank’s discretion, no credit extensions
will be made.

 

 

Very
truly yours,

 

	
  CONVIO,
  INC.,

  	
   

  	
   

  	
  BANK USE ONLY

  
	
  as
  Administrative Borrower

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Rec’d
  by:  

  	
   

  
	
  Authorized Signer  

  	
   

  	
  Date:  

  	
   

  
	
  Name:

  	
   

  	
   

  	
  Reviewed
  by:  

  	
   

  
	
  Title:

  	
   

  	
   

  	
  Date:

  	
   

  
	
   

  	
   

  	
   

  	
  Financial
  Compliance Status:

  	
  YES / NO

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00167-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00167-of-00352.parquet"}]]