Document:

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                                                                     EXHIBIT 4.8

                               SILICON VALLEY BANK

               AMENDED AND RESTATED REGISTRATION RIGHTS AGREEMENT

        THIS AMENDED AND RESTATED REGISTRATION RIGHTS AGREEMENT (this
"Agreement") is entered into as of January 11, 2002 by and between SILICON
VALLEY BANK ("Purchaser") and MTI TECHNOLOGY CORPORATION (the "Company").

                                    RECITALS

        WHEREAS, the Company and the Purchaser are parties to a Registration
Rights Agreement, dated November 8, 2001 (the "Prior Agreement"), setting forth
certain rights and conditions with respect to the Company's Common Stock.

        WHEREAS, the Company is issuing a warrant (the "Warrant") to the
Purchaser pursuant to which the Purchaser has the right to acquire from the
Company the Shares (as defined in Section 14 of the Warrant).

        WHEREAS, by this Agreement, the Purchaser and the Company desire to set
forth the registration rights of the Shares all as provided herein.

NOW, THEREFORE, in consideration of the mutual promises, covenants and
conditions hereinafter set forth, the parties hereto mutually agree as follows:

        1. Registration Rights. The Company covenants and agrees as follows:

                1.1 Definitions. For purposes of this Section 1:

                        (a) The term "register," "registered," and
"registration" refer to a registration effected by preparing and filing a
Registration Statement or similar document in compliance with the Securities Act
of 1933, as amended (the "Securities Act"), and the declaration or ordering of
effectiveness of such Registration Statement or document.

                        (b) The term "Registrable Securities" means (i) the
Shares, and (ii) any Common Stock of the Company issued as (or issuable upon the
conversion or exercise of any warrant, right or other security which is issued
as) a dividend or other distribution with respect to, or in exchange for or in
replacement of, any stock referred to in (i). For the avoidance of doubt, the
term "Registrable Securities" shall cease to apply to any such Shares or any
such Common Stock from and after the sale thereof pursuant to an effective
Registration Statement or pursuant to SEC Rule 144.

                        (c) The terms "Holder" or "Holders" means the Purchaser
or qualifying transferees under Section 1.9 hereof who hold Registrable
Securities.

                        (d) The term "SEC" means the Securities and Exchange
Commission.

SVB/MTI Technology/SVB AR Reg Rts Agr-2

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                        (e) The term "Registration Statement" means a
registration statement filed by the Company with the SEC in compliance with the
Securities Act and the rules and regulations promulgated thereunder for a public
offering and sale of its Common Stock (other than a registration statement on a
Limited Purpose Form). As used herein, "Limited Purpose Form" means Form S-8
relating solely to employee stock option or purchase plans, or Form S-4 relating
solely to an SEC Rule 145 transaction, or any other form (but excluding Forms
S-1, S-2, S-3 or S-18, or their successor forms) or any successor to such forms,
which does not include substantially the same information as would be required
to be included in a Registration Statement covering the sale of Registrable
Securities.

                1.2 Company Registration.

                        (a) Registration. If at any time or from time to time,
the Company shall determine to register any of its securities, for its own
account or the account of any of its stockholders, other than a registration on
a Limited Purpose Form, the Company will:

                                (i) promptly give to each Holder written notice
thereof (which shall include a list of the jurisdictions in which the Company
intends to attempt to qualify such securities under the applicable blue sky or
other state securities laws); provided, however, if such securities are listed
on any established stock exchange or a national market system, including the
Nasdaq National Market, no list need be provided); and

                                (ii) include in such registration (and
compliance), and in any underwriting involved therein, all the Registrable
Securities specified in a written request or requests, made within 30 days after
receipt of such written notice from the Company, by any Holder or Holders,
except as set forth in Section 1.2(b) below.

                        (b) Underwriting. If the registration of which the
Company gives notice is for a registered public offering involving an
underwriting, the Company shall so advise the Holders as a part of the written
notice given pursuant to Section 1.2(a)(i). In such event the right of any
Holder to registration pursuant to this Section 1.2 shall be conditioned upon
such Holder's participation in such underwriting and the inclusion of such
Holder's Registrable Securities in the underwriting to the extent provided
herein. All Holders proposing to sell their securities through such underwriting
shall (together with the Company and the other stockholders selling their
securities through such underwriting) enter into an underwriting agreement (and
other documents reasonably and customarily required under the terms of such
underwriting agreement) in customary form with the underwriter or underwriters
selected for such underwriting by the Company. Notwithstanding any other
provision of this Section 1.2, if the underwriter advises the Company that
marketing factors require a limitation of the number of securities underwritten
(including Registrable Securities), then the Company shall so advise all holders
(including the Holders) of Registrable Securities that would otherwise be so
underwritten, and the number of shares that may be included in the underwriting
shall be allocated to the holders (including the Holders) of such Registrable
Securities on a pro rata basis based on the number of Registrable Securities
held by all such holders (including the Holders).

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Notwithstanding the foregoing, in the case of an offering of Common Stock by the
Company pursuant to this Section 1.2, if the Company decides to withdraw such
offering, it shall be under no obligation to register any Registrable Securities
pursuant to this Section as part of such withdrawn offering.

                1.3 Expenses of Registration. All expenses incurred in
connection with any registration, qualification or compliance pursuant to this
Section 1 including without limitation, all registration, filing and
qualification fees, printing expenses, fees and disbursements of counsel for the
Company and expenses of any special audits incidental to or required by such
registration, shall be borne by the Company; provided, however, that the Company
shall not be required to pay underwriters' fees, discounts or commissions
relating to Registrable Securities. All expenses of any registered offering not
otherwise borne by the Company shall be borne pro rata among the Holders
participating in the offering and the Company.

                1.4 Registration Procedures. In the case of each registration
effected by the Company pursuant to this Agreement, the Company will keep each
Holder participating therein advised in writing as to the initiation of each
registration and as to the completion thereof. At its expense (except as
otherwise provided in Section 1.3), the Company will:

                        (a) (i) in the case of a registration under Section 1.2,
prepare and file with the SEC a Registration Statement with respect to such
Registrable Securities and use its commercially reasonable efforts to cause such
Registration Statement to become effective, and, upon the request of the Holders
of a majority of the Registrable Securities registered thereunder, keep such
Registration Statement effective for the lessor of (y) 120 days and (z) any
shorter period which will terminate when all Registrable Securities covered by
the Registration Statement have been sold; and (ii) in the case of a
registration under Section 1.8, take the actions specified in such Section.

                        (b) Prepare and file with the SEC such amendments and
supplements to such Registration Statement and the prospectus used in connection
with such Registration Statement as may be necessary to comply with the
provisions of the Securities Act with respect to the disposition of all
securities covered by such Registration Statement.

                        (c) Furnish to each Holder of Registrable Securities
covered by such Registration Statement copies of the prospectus, including the
preliminary prospectus, in conformity with the requirements of the Securities
Act, and such other documents as they may reasonably request in order to
facilitate the disposition of Registrable Securities owned by them.

                        (d) Use its commercially reasonable efforts to register
and qualify the securities covered by such Registration Statement under such
other securities or Blue Sky laws of such jurisdictions as shall be reasonably
requested by the Holders, provided that the Company shall not be required in
connection therewith or as a condition thereto to qualify to do business, to
subject itself to franchise, business or income taxes, or to file a general
consent to service of process, in any such states or jurisdictions.

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                        (e) In the event of any underwritten public offering,
enter into and perform its obligations under an underwriting agreement (and
other documents reasonably and customarily required under the terms of such
underwriting agreement), in usual and customary form, with the managing
underwriter of such offering. Each Holder participating in such underwriting
shall also enter into and perform its obligations under such an agreement.

                        (f) Provide each Holder of Registrable Securities
covered by such Registration Statement with a Blackout Notice (pursuant to
Section 1.10(a)), as applicable, and comply with Section 1.10(c) in connection
therewith.

                1.5 Indemnification.

                        (a) The Company will indemnify each Holder of
Registrable Securities and each of its officers, directors and partners, and
each person controlling such Holder, with respect to which such registration,
qualification or compliance has been effected pursuant to this Agreement,
against all claims, losses, expenses, damages and liabilities (or actions in
respect thereto) arising out of or based on any untrue statement (or alleged
untrue statement) of a material fact contained in any prospectus, offering
circular or other document (including any related Registration Statement,
notification or the like) incident to any such registration, qualification or
compliance, or based on any omission (or alleged omission) to state therein a
material fact required to be stated therein or necessary to make the statement
therein not misleading, or any violation or alleged violation by the Company of
the Securities Act, the Securities Exchange Act of 1934, as amended, ("Exchange
Act") or any state securities law applicable to the Company or any rule or
regulation promulgated under the Securities Act, the Exchange Act or any such
state law and relating to action or inaction required of the Company in
connection with any such registration, qualification of compliance, and will
reimburse each such Holder, each of its officers, directors and partners, and
each person controlling such Holder, within a reasonable amount of time after
incurred for any reasonable legal and any other expenses incurred in connection
with investigating, defending or settling any such claim, loss, damage,
liability or action; provided, however, that the indemnity agreement contained
in this Section 1.5(a) shall not apply to amounts paid in settlement of any such
claim, loss, damage, liability, or action if such settlement is effected without
the consent of the Company (which consent shall not be unreasonably withheld);
and provided further, that the Company will not be liable in any such case to
the extent that any such claim, loss, damage or liability arises out of or is
based on any untrue statement or omission based upon written information
furnished to the Company by an instrument duly executed by such Holder
specifically for use therein.

                        (b) Each Holder will, if Registrable Securities held by
or issuable to such Holder are included in the securities as to which such
registration, qualification or compliance is being effected, indemnify the
Company, each of its directors and officers, each person who controls the
Company within the meaning of the Securities Act, and each other such Holder,
each of its officers, directors and partners and each person controlling such
Holder, against all claims, losses, expenses, damages and liabilities (or
actions in respect thereof) arising out of or based on any untrue statement (or
alleged untrue statement) of a material fact contained in any such Registration
Statement, prospectus, offering circular or other document, or any

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omission (or alleged omission) to state therein a material fact required to be
stated therein or necessary to make the statements therein not misleading, and
will reimburse the Company, such Holders, such directors, officers, partners, or
controlling persons for any reasonable legal or any other expenses incurred in
connection with investigating, defending or settling any such claim, loss,
damage, liability or action, in each case to the extent, but only to the extent,
that such untrue statement (or alleged untrue statement) or omission (or alleged
omission) is made in such Registration Statement, prospectus, offering circular
or other document in reliance upon and in conformity with written information
furnished to the Company by an instrument duly executed by such Holder
specifically for use therein; provided, however, that the indemnity agreement
contained in this Section 1.5(b) shall not apply to amounts paid in settlement
of any such claim, loss, damage, liability or action if such settlement is
effected without the consent of the Holder, (which consent shall not be
unreasonably withheld); and provided further, that the total amount for which
any Holder shall be liable under this Section 1.5(b) shall not in any event
exceed the aggregate proceeds received by such Holder from the sale of
Registrable Securities held by such Holder in such registration.

                        (c) Each party entitled to indemnification under this
Section 1.5 (the "Indemnified Party") shall give notice to the party required to
provide indemnification (the "Indemnifying Party") promptly after such
Indemnified Party has actual knowledge of any claim as to which indemnity may be
sought, and shall permit the Indemnifying Party to assume the defense of any
such claim or any litigation resulting therefrom; provided that counsel for the
Indemnifying Party, who shall conduct the defense of such claim or litigation,
shall be approved by the Indemnified Party (whose approval shall not be
unreasonably withheld), and the Indemnified Party may participate in such
defense at such party's expense; and provided further, that the failure of any
Indemnified Party to give notice as provided herein shall not relieve the
Indemnifying Party of its obligations hereunder, unless such failure resulted in
prejudice to the Indemnifying Party; and provided further, that an Indemnified
Party (together with all other Indemnified Parties which may be represented
without conflict by one counsel) shall have the right to retain one separate
counsel, with the fees and expenses to be paid by the Indemnifying Party, if
representation of such Indemnified Party by the counsel retained by the
Indemnifying Party would be inappropriate due to actual or potential differing
interests between such Indemnified Party and any other party represented by such
counsel in such proceeding. No Indemnifying Party, in the defense of any such
claim or litigation, shall, except with the consent of each Indemnified Party,
consent to entry of any judgment or enter into any settlement which does not
include as an unconditional term thereof the giving by the claimant or plaintiff
to such Indemnified Party of a release from all liability in respect to such
claim or litigation.

                1.6 Information by Holder. Any Holder or Holders of Registrable
Securities included in any registration shall promptly furnish to the Company
such information regarding such Holder or Holders and the distribution proposed
by such Holder or Holders as the Company may request in writing from time to
time and as shall be required in connection with any registration, qualification
or compliance referred to herein, together with corporate certificates (if any)
as may be reasonably requested by the Company in connection therewith.

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                1.7 Rule 144 Reporting. With a view to making available to
Holders the benefits of certain rules and regulations of the SEC which may
permit the sale of the Registrable Securities to the public without
registration, the Company agrees at all times to:

                        (a) make and keep public information available, as those
terms are understood and defined in SEC Rule 144;

                        (b) file with the SEC in a timely manner all reports and
other documents required of the Company under the Securities Act and the
Exchange Act; and

                        (c) so long as a Holder owns any Registrable Securities,
to furnish to such Holder forthwith upon request a written statement by the
Company as to its compliance with the reporting requirements of said Rule 144,
the Securities Act, and the Exchange Act, a copy of the most recently filed
annual or quarterly report of the Company, and such other reports and documents
so filed by the Company as the Holder may reasonably request in complying with
any rule or regulation of the SEC allowing the Holder to sell any such
securities without registration.

                1.8 Shelf Registration of Registrable Securities.

                        (a) The Company shall mail as soon as practicable a
questionnaire (the "Questionnaire"), soliciting the information required by
Items 507 and 508 of Regulations S-K under the Securities Act, to each of the
Holders, and shall deliver a copy of such Questionnaire to any Holder within
five (5) days of it becoming available. As a condition to any Registrable
Securities being included in the Registration Statement referred to below, such
Holder shall submit a Questionnaire and shall amend and submit to the Company a
revised Questionnaire any time the information contained therein ceases to be
accurate and complete.

                        (b) The Company agrees to file with the SEC a
Registration Statement (the "Shelf Registration") for an offering to be made on
a continuous basis pursuant to Rule 415 under the Securities Act covering all
Registrable Securities held by the Holder, as soon as practicable from the date
hereof, but in no event more than 60 days from the date hereof. The Holders
shall be included as selling securityholders in such Registration Statement
promptly (and in any event within two (2) Business Days) after they have fully
completed and returned to the Company the Questionnaire. The Shelf Registration
shall be on Form S-3 under the Securities Act or another appropriate form
(including Form S-1, if applicable) permitting registration of such Registrable
Securities for resale by the Holders in the manner or manners reasonably
designated by them (including, without limitation, one or more underwritten
offerings). The Company shall use commercially reasonable efforts to cause the
Shelf Registration to be declared effective pursuant to the Securities Act on or
prior to the date that is 120 days after the date of the Prior Agreement and to
keep the Shelf Registration continuously effective under the Securities Act for
60 months (the "Effectiveness Period") or such shorter period ending when there
ceases to be any outstanding Registrable Securities; provided, however, that if,
when, and for so long as the Registrable Securities are permitted to be sold by
the Holders under Rule 144 without application of the requirements of Paragraphs
(c), (e), (f), and (h) of Rule 144 pursuant to

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Paragraph (k) of Rule 144, then the Company need not keep the Shelf Registration
continuously effective from and after the date that the Holders are permitted to
so sell the Registrable Securities under Rule 144 without application of such
requirements.

                        (c) The Company shall use all commercially reasonable
efforts to keep the Shelf Registration continuously effective, for the period
described in Section 1.8(b) hereof, by supplementing and amending the Shelf
Registration if required by the rules, regulations or instructions applicable to
the registration form used for such Shelf Registration, if required by the
Securities Act or if reasonably requested by the Holders of a majority in amount
of Registrable Securities (determined on a fully converted basis) covered by
such Shelf Registration.

                        (d) In the event any adjustment in the number of Shares
(as defined in the Warrant) would result in the issuance of additional
Registrable Securities upon exercise of the Warrant, the Company shall promptly,
and within ten (10) Business Days, amend or supplement the Shelf Registration in
order to effect a Shelf Registration of such additional Registrable Securities
pursuant to the terms of Section 1.8(b).

                        (e) Notwithstanding anything to the contrary in this
Section 1.9, the Company may, by delivering written notice to the Holders,
prohibit offers and sales of Registrable Securities pursuant to the Shelf
Registration at any time (subject to the 30-day limitation set forth in the last
sentence of this Section 1.8(e)) if (i) the Company is in possession of material
non-public information relating to the Company, (ii) the Company determines
(based on written advice of counsel) in good faith that such prohibition is
reasonably necessary in order to avoid a requirement to disclose such material
non-public information to the public, and (iii) the Company determines
reasonably and in good faith that public disclosure of such material non-public
information would not be in the best interests of the Company and its
stockholders; provided, however, that upon the public disclosure by the Company
of the material non-public information described in clauses (i), (ii), and (iii)
of this paragraph, the suspension of the use of the Shelf Registration pursuant
to this Section 1.8(e) shall cease and the Company shall promptly comply, prior
to the next Business Day, with Section 1.4 hereof and notify the Holders that
dispositions of Registrable Securities may be resumed. In the event that during
the Effectiveness Period the prospectus under the Shelf Registration becomes not
usable as a result of the Company's notification under this Section, the Company
shall use its commercially reasonable efforts to provide the Holders with a
usable prospectus as soon as practicable. Anything herein to the contrary
notwithstanding, in no event shall sales of Registrable Securities under the
Shelf Registration be suspended for more than 30 days in any 365-day period.

                1.9 Transfer of Registration Rights. Holders' rights to cause
the Company to register their securities and keep information available, granted
to them by the Company under Sections 1.2, 1.7, and 1.8 may be assigned to a
transferee or assignee of a Holder's Registrable Securities not sold to the
public, provided, that the Company is given written notice by such Holder at the
time of or within a reasonable time after said transfer, stating the name and
address of said transferee or assignee and identifying the securities with
respect to which such registration rights are being assigned. The Company may
prohibit the transfer of any Holders' rights under this Section 1.9 to any
proposed transferee or assignee who the Company reasonably believes is a
competitor of the Company.

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                1.10 Blackout Notice.

                        (a) The Company shall promptly (and, in any event, by
the next Business Day) provide each Holder of Registrable Securities covered by
a Shelf Registration (or other Registration Statement as applicable) written
notice, at any time when a prospectus relating thereto is required to be
delivered under the Securities Act, of the happening of any event as a result of
which the prospectus included in such Shelf Registration (or other Registration
Statement as applicable), as then in effect, includes an untrue statement of a
material fact or omits to state a material fact required to be stated therein or
necessary to make the statements therein not misleading in the light of the
circumstances then existing (collectively, a "Blackout Notice").

                        (b) Upon receipt of such Blackout Notice from the
Company, the Holder agrees to the Holder Obligations set forth in Section 1.11.

                        (c) Upon delivery of such Blackout Notice by the
Company, the Company agrees to promptly prepare and furnish to such selling
Holder a reasonable number of copies of a supplement to or an amendment of such
prospectus or any prospectus supplement or material incorporated by reference
therein as may be necessary so that, as thereafter delivered to the purchasers
of such Registrable Securities, such prospectus or any prospectus supplement or
material incorporated by reference therein shall not include an untrue statement
of a material fact or omit to state a material fact required to be stated
therein or necessary to make the statements therein not misleading in light of
the circumstances then existing and so that such prospectus or prospectus
supplement or registration statement or material incorporated by reference
therein, as amended or supplemented, will comply with the law.

                1.11 Holder Obligations. Upon receipt of any Blackout Notice,
the Holder agrees that it shall (i) maintain the confidentiality of the
information contained in the Blackout Notice, (ii) forthwith discontinue
disposition of Registrable Securities pursuant to the Shelf Registration (or
other Registration Statement as applicable) until the Holder's receipt of copies
of the supplemented or amended prospectus, and, (iii) if so directed by the
Company, deliver to the Company (at the Company's expense) all copies (other
than permanent file copies) in its possession of the prospectus covering such
Registrable Securities current at the time of receipt of such notice. In the
event that the Holder is required to discontinue or refrain from disposition of
the Registrable Securities for more than 30 days in any 365-day period, the
Company shall be deemed in material breach of this Agreement.

        2. General.

                2.1 Waivers and Amendments. With the written consent of the
record or beneficial holders of at least a majority of the Registrable
Securities, the obligations of the Company and the rights of the Holders of the
Registrable Securities under this agreement may be waived (either generally or
in a particular instance, either retroactively or prospectively, and either for
a specified period of time or indefinitely), and with the same consent the
Company,

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when authorized by resolution of its Board of Directors, may enter into a
supplementary agreement for the purpose of adding any provisions to or changing
in any manner or eliminating any of the provisions of this Agreement; provided,
however, that no such modification, amendment or waiver shall reduce the
aforesaid percentage of Registrable Securities without the consent of all of the
Holders of the Registrable Securities. Upon the effectuation of each such
waiver, consent, agreement of amendment or modification, the Company shall
promptly give written notice thereof to the record holders of the Registrable
Securities who have not previously consented thereto in writing. This Agreement
or any provision hereof may be changed, waived, discharged or terminated only by
a statement in writing signed by the party against which enforcement of the
change, waiver, discharge or termination is sought, except to the extent
provided in this Section 2.1.

                2.2 Governing Law. This Agreement shall be governed in all
respects by the laws of the State of California as such laws are applied to
agreements between California residents entered into and to be performed
entirely within California.

                2.3 Successors and Assigns. Except as otherwise expressly
provided herein, the provisions hereof shall inure to the benefit of, and be
binding upon, the successors, assigns, heirs, executors and administrators of
the parties hereto.

                2.4 Entire Agreement. Except as set forth below, this Agreement
and the other documents delivered pursuant hereto constitute the full and entire
understanding and agreement between the parties with regard to the subjects
hereof and thereof.

                2.5 Notices, etc. All notices and other communications required
or permitted hereunder shall be in writing and shall be mailed by first class
mail, postage prepaid, certified or registered mail, return receipt requested,
addressed (a) if to Holder, at such Holder's address as set forth below, or at
such other address as such Holder shall have furnished to the Company in
writing, or (b) if to the Company, at the Company's address set forth below, or
at such other address as the Company shall have furnished to the Holder in
writing.

                2.6 Severability. In case any provision of this Agreement shall
be invalid, illegal, or unenforceable, the validity, legality and enforceability
of the remaining provisions of this Agreement or any provision of the other
Agreements shall not in any way be affected or impaired thereby.

                2.7 Titles and Subtitles. The titles of the sections and
subsections of this Agreement are for convenience of reference only and are not
to be considered in construing this Agreement.

[remainder of page intentionally left blank; signature page follows]

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                2.8 Counterparts. This Agreement may be executed in any number
of counterparts, each of which shall be an original, but all of which together
shall constitute one instrument.

PURCHASER                                   COMPANY

SILICON VALLEY BANK                         MTI TECHNOLOGY CORPORATION

By: /s/ Patrick J. O'Donnell                By: /s/ Paul W. Emery, II
   --------------------------------            ---------------------------------

Name: Patrick J. O'Donnell              Name:    Paul W. Emery, II
     ------------------------------              -------------------------------
               (print)                                        (print)

Title: Vice President and                   Title: Chairman of the Board,
       Regional Market Manager                     President or Vice President

Address:                                    Address:

Silicon Valley Bank                         MTI Technology Corporation
Attn: Treasury Department                   4905 E. La Palma Avenue
3003 Tasman Drive                           Anaheim, CA  92807
Santa Clara, CA  95054

                                       10<PAGE>
                                                                   EXHIBIT 10.49

SILICON VALLEY BANK

                           AMENDMENT TO LOAN DOCUMENTS

BORROWER:      MTI TECHNOLOGY CORPORATION
ADDRESS:       4905 E. LA PALMA AVENUE
               ANAHEIM, CA  92807

DATED AS OF NOVEMBER 8, 2001

         THIS AMENDMENT TO LOAN DOCUMENTS (THIS "AMENDMENT") is entered into
between Silicon Valley Bank ("Silicon") and the borrower named above
("Borrower").

         Borrower and Silicon hereby agree to amend the Loan and Security
Agreement between them, dated as of October 29, 2001 (as amended, restated,
supplemented, or otherwise modified from time to time, the "Loan Agreement"), as
set forth below, effective as of the date hereof. (Capitalized terms used but
not defined in this Amendment shall have the meanings set forth in the Loan
Agreement, as amended by this Amendment.)

         1.       AMENDMENTS TO LOAN AGREEMENT.

                  (a) The paragraph set forth in Section 1 of the Schedule to
Loan and Security Agreement that is captioned "Foreign Exchange Contract
Sublimit" and currently reads as follows:

                                        "Foreign Exchange Contract Sublimit. If
                                        there is availability hereunder, then
                                        Borrower or its wholly-owned subsidiary,
                                        MTI Technology Ireland, Ltd., may enter
                                        in foreign exchange forward contracts
                                        with Silicon under which Borrower (or,
                                        if applicable, MTI Technology Ireland,
                                        Ltd.) commits to purchase from or sell
                                        to Silicon a set amount of foreign
                                        currency more than 1 business day after
                                        the contract date (the "Foreign Exchange
                                        Contracts"). Silicon will subtract 10%
                                        of each outstanding Foreign Exchange
                                        Contract and apply it to the then extant
                                        foreign exchange Reserve (subject to the
                                        Overall Ancillary Sublimit set forth
                                        below, the "FX Reserve"; which foreign
                                        exchange Reserve shall not exceed
                                        $2,000,000); it being understood and
                                        agreed that, at such time as any such
                                        Foreign Exchange Contract is no

                                      -1-
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SILICON VALLEY BANK              CERTIFIED RESOLUTION AND INCUMBENCY CERTIFICATE
--------------------------------------------------------------------------------

                                        longer outstanding and Silicon does not
                                        have any outstanding obligations
                                        thereunder, the F/X Reserve shall be
                                        reduced by the 10% of such Foreign
                                        Exchange Contract previously so applied
                                        to such F/X Reserve. The total Foreign
                                        Exchange Contracts at any one time may
                                        not exceed 10 times the amount of the FX
                                        Reserve. Silicon may terminate the
                                        Foreign Exchange Contracts if an Event
                                        of Default occurs and is continuing.
                                        Borrower (or, if applicable, MTI
                                        Technology Ireland, Ltd.) will execute
                                        and deliver all standard applications
                                        and agreements of Silicon in connection
                                        with Foreign Exchange Contracts and pay
                                        all standard fees and charges of
                                        Silicon."

, is hereby amended and restated in its entirety to read as follows:

                                        "Foreign Exchange Contract Sublimit. If
                                        there is availability hereunder, then
                                        Borrower or its wholly-owned subsidiary,
                                        MTI Technology B.V., a company organized
                                        under the laws of The Netherlands and
                                        successor-in-interest to all or
                                        substantially all assets and liabilities
                                        of MTI Technology Ireland, Ltd.
                                        ("MTITBV"), may enter in foreign
                                        exchange forward contracts with Silicon
                                        under which Borrower (or, if applicable,
                                        MTITBV) commits to purchase from or sell
                                        to Silicon a set amount of foreign
                                        currency more than 1 business day after
                                        the contract date (the "Foreign Exchange
                                        Contracts"). Silicon will subtract 10%
                                        of each outstanding Foreign Exchange
                                        Contract and apply it to the then extant
                                        foreign exchange Reserve (subject to the
                                        Overall Ancillary Sublimit set forth
                                        below, the "FX Reserve"; which foreign
                                        exchange Reserve shall not exceed
                                        $2,000,000); it being understood and
                                        agreed that, at such time as any such
                                        Foreign Exchange Contract is no longer
                                        outstanding and Silicon does not have
                                        any outstanding obligations thereunder,
                                        the F/X Reserve shall be reduced by the
                                        10% of such Foreign Exchange Contract
                                        previously so applied to such F/X
                                        Reserve. The total Foreign Exchange
                                        Contracts at any one time may not exceed
                                        10 times the amount of the FX Reserve.
                                        Silicon may terminate the Foreign
                                        Exchange Contracts if an Event of
                                        Default occurs and is continuing.
                                        Borrower (or, if applicable, MTITBV)
                                        will execute and deliver all standard
                                        applications and agreements of Silicon
                                        in

                                      -2-
<PAGE>

                                        connection with Foreign Exchange
                                        Contracts and pay all standard fees and
                                        charges of Silicon."

                  (b) The representation and warranty set forth in Section 8 of
the Schedule to Loan and Security Agreement that currently reads as follows:

                                        "Borrower hereby further represents and
                                        warrants that its wholly-owned
                                        subsidiary known as MTI Technology
                                        Europe is a company organized under the
                                        laws of England (rather than the laws of
                                        Ireland, as incorrectly stated in
                                        Exhibit 23 to Borrower's Annual Report
                                        on Form 10-K for the Fiscal Year ended
                                        April 7, 2001 filed with the Securities
                                        and Exchange Commission as of June 12,
                                        2001) and that the bulk of Borrower's
                                        consolidated business activities and
                                        assets located in Europe are conducted
                                        and owned by "Irish Sub" (as defined in
                                        Section 9 of this Schedule) and not by
                                        MTI Technology Europe."

, is hereby captioned "European Operations" and amended and restated in its
entirety to read as follows:

                 "EUROPEAN OPERATIONS:               Borrower hereby further
                                                     represents and warrants
                                                     that: (a) its wholly-owned
                                                     subsidiary known as MTI
                                                     Technology Europe is a
                                                     company organized under the
                                                     laws of England (rather
                                                     than the laws of Ireland,
                                                     as incorrectly stated in
                                                     Exhibit 23 to Borrower's
                                                     Annual Report on Form 10-K
                                                     for the Fiscal Year ended
                                                     April 7, 2001 filed with
                                                     the Securities and Exchange
                                                     Commission as of June 12,
                                                     2001); (b) MTITBV has
                                                     acquired all or
                                                     substantially all of the
                                                     assets, liabilities, and
                                                     business activities of MTI
                                                     Technology Ireland, Ltd.
                                                     ("Irish Sub"); and (c) the
                                                     bulk of Borrower's
                                                     consolidated business
                                                     activities and assets
                                                     located in Europe are
                                                     conducted and owned by
                                                     MTITBV and not by MTI
                                                     Technology Europe or Irish
                                                     Sub."

                  (c) Section 9(5) of the Schedule to Loan and Security
Agreement, which currently reads as follows:

                                    "(5)    WARRANTS. Borrower shall provide
                                            Silicon with five-year warrants to
                                            purchase the Designated Number (as
                                            defined below) of shares of common
                                            stock of the Borrower (the
                                            "Shares"), at a price per share
                                            equal to the Designated Price (as
                                            defined below), on terms acceptable
                                            to Silicon, all as set forth in the
                                            Warrant to Purchase Stock (the
                                            "Warrant") and related

                                      -3-
<PAGE>

                                            Registration Rights Agreement being
                                            executed concurrently with this
                                            Agreement. Said warrants shall be
                                            deemed fully earned on the date
                                            hereof, shall be in addition to all
                                            interest and other fees, and shall
                                            be non-refundable. As used herein,
                                            the term "Designated Price" means
                                            the closing price of the Shares
                                            reported for the trading day
                                            immediately before the date of this
                                            Agreement. As used herein, the term
                                            "Designated Number" means the
                                            quotient obtained from dividing (a)
                                            $450,000 by (b) the Designated
                                            Price."

, is hereby amended and restated in its entirety to read as follows:

                                    "(5)    WARRANTS. Borrower shall provide
                                            Silicon with five-year warrants to
                                            purchase the Designated Number (as
                                            defined below) of shares of common
                                            stock of the Borrower (the
                                            "Shares"), at a price per share
                                            equal to the Designated Price (as
                                            defined below), on terms acceptable
                                            to Silicon, all as set forth in the
                                            Warrant to Purchase Stock (the
                                            "Warrant") and related Registration
                                            Rights Agreement being executed and
                                            delivered on or about November __,
                                            2001. Said warrants shall be deemed
                                            fully earned on the date of this
                                            Agreement, shall be in addition to
                                            all interest and other fees, and
                                            shall be non-refundable. As used
                                            herein, the term "Designated Price"
                                            means the closing price of the
                                            Shares reported for the trading day
                                            immediately before the date of
                                            execution and delivery of the
                                            Warrant. As used herein, the term
                                            "Designated Number" means the
                                            quotient obtained from dividing (a)
                                            $450,000 by (b) the Designated
                                            Price."

                  (d) Section 9(6) of the Schedule to Loan and Security
Agreement, which currently reads as follows:

                                    "(6)    IRISH SUB GUARANTY. MTI Technology
                                            Ireland, Ltd., a company organized
                                            under the laws of Ireland and
                                            wholly-owned subsidiary of Borrower
                                            ("Irish Sub"), shall execute and
                                            deliver to Silicon a continuing
                                            guaranty with respect to all of the
                                            Obligations, in form and substance
                                            satisfactory to Silicon, and
                                            certified resolutions or other
                                            evidence of authority with respect
                                            to the execution and delivery of
                                            such

                                      -4-
<PAGE>

                                            guaranty. Throughout the term of
                                            this Agreement, Borrower shall not
                                            cause, suffer, or permit such
                                            guaranty to cease to be in full
                                            force and effect."

, is hereby amended and restated in its entirety to read as follows:

                                    "(6)    MTITBV GUARANTY. MTITBV shall
                                            execute and deliver to Silicon a
                                            continuing guaranty with respect to
                                            all of the Obligations, in form and
                                            substance satisfactory to Silicon,
                                            and certified resolutions or other
                                            evidence of authority with respect
                                            to the execution and delivery of
                                            such guaranty. Throughout the term
                                            of this Agreement, Borrower shall
                                            not cause, suffer, or permit such
                                            guaranty to cease to be in full
                                            force and effect."

                  (e) Section 9(7) of the Schedule to Loan and Security
Agreement, which currently reads as follows:

                                    "(7)    CORPORATE GUARANTY. Borrower shall
                                            execute and deliver to Silicon a
                                            continuing guaranty with respect to
                                            all of the obligations of Irish Sub
                                            owing to Silicon, in form and
                                            substance satisfactory to Silicon,
                                            and certified resolutions or other
                                            evidence of authority with respect
                                            to the execution and delivery of
                                            such guaranty. Throughout the term
                                            of this Agreement, Borrower shall
                                            not cause, suffer, or permit such
                                            guaranty to cease to be in full
                                            force and effect."

, is hereby amended and restated in its entirety to read as follows:

                                    "(7)    CORPORATE GUARANTY. Borrower shall
                                            execute and deliver to Silicon a
                                            continuing guaranty with respect to
                                            all of the obligations of MTITBV
                                            owing to Silicon, in form and
                                            substance satisfactory to Silicon,
                                            and certified resolutions or other
                                            evidence of authority with respect
                                            to the execution and delivery of
                                            such guaranty. Throughout the term
                                            of this Agreement, Borrower shall
                                            not cause, suffer, or permit such
                                            guaranty to cease to be in full
                                            force and effect."

                  (f) Section 9(8) of the Schedule to Loan and Security
Agreement, which currently reads as follows:

                                    "(8)    INTERCOMPANY SUBORDINATION
                                            AGREEMENT. Borrower and Irish Sub
                                            (each, an "Obligor") shall execute
                                            and

                                      -5-
<PAGE>

                                            deliver to Silicon a subordination
                                            agreement with respect to all of the
                                            Inside Debt of each Obligor owing to
                                            any other Obligor, on Silicon's
                                            standard form, and certified
                                            resolutions or other evidence of
                                            authority with respect to the
                                            execution and delivery of such
                                            subordination agreement, Throughout
                                            the term of this Agreement, Borrower
                                            shall not cause, suffer, or permit
                                            such subordination agreement to
                                            cease to be in full force and
                                            effect."

, is hereby amended and restated in its entirety to read as follows:

                                    "(8)    INTERCOMPANY SUBORDINATION
                                            AGREEMENT. Borrower and MTITBV
                                            (each, an "Obligor") shall execute
                                            and deliver to Silicon a
                                            subordination agreement with respect
                                            to all of the Inside Debt of each
                                            Obligor owing to any other Obligor,
                                            on Silicon's standard form, and
                                            certified resolutions or other
                                            evidence of authority with respect
                                            to the execution and delivery of
                                            such subordination agreement,
                                            Throughout the term of this
                                            Agreement, Borrower shall not cause,
                                            suffer, or permit such subordination
                                            agreement to cease to be in full
                                            force and effect."

                  (g) The Schedule to Loan and Security Agreement hereby is
amended by adding thereto, in proper numerical order, the following as a new
Section 9(9) of the Schedule to Loan and Security Agreement:

                                    "(9)    ASSIGNMENT AND ASSUMPTION. Borrower
                                            shall cause each of MTITBV and Irish
                                            Sub to execute and deliver to
                                            Silicon (and Borrower shall consent
                                            to) an assignment and assumption of
                                            Foreign Exchange Contract
                                            obligations, in form and substance
                                            satisfactory to Silicon."

         2. REPRESENTATIONS TRUE. Borrower represents and warrants to Silicon
that all representations and warranties set forth in the Loan Agreement, as
amended hereby, are true and correct.

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK; SIGNATURE PAGE FOLLOWS]

                                      -6-
<PAGE>

         3. GENERAL PROVISIONS. This Amendment, the Loan Agreement, any prior
written amendments to the Loan Agreement signed by Silicon and Borrower, and the
other written documents and agreements between Silicon and Borrower set forth in
full all of the representations and agreements of the parties with respect to
the subject matter hereof and supersede all prior discussions, representations,
agreements and understandings between the parties with respect to the subject
hereof. Except as herein expressly amended, all of the terms and provisions of
the Loan Agreement, and all other documents and agreements between Silicon and
Borrower shall continue in full force and effect and the same are hereby
ratified and confirmed.

   BORROWER:                                 SILICON:

   MTI TECHNOLOGY CORPORATION                SILICON VALLEY BANK

   BY /s/ Thomas P. Raimondi                 BY /s/ Patrick J. O'Donnell
     ------------------------------            ---------------------------------
     PRESIDENT OR VICE PRESIDENT             TITLE  Vice President and Regional
                                                    Market Manager
                                                  ------------------------------
   BY /s/ Paul W. Emery, II
     ------------------------------
     SECRETARY OR ASS'T SECRETARY

                                      -7-
<PAGE>

SILICON VALLEY BANK

CERTIFIED RESOLUTION AND INCUMBENCY CERTIFICATE

BORROWER:           MTI TECHNOLOGY CORPORATION,

                    A CORPORATION ORGANIZED UNDER THE LAWS OF THE

                    STATE OF DELAWARE

DATE:               NOVEMBER 8, 2001

I, the undersigned, Secretary or Assistant Secretary of the above-named
borrower, a corporation organized under the laws of the state set forth above,
do hereby certify that the following is a full, true and correct copy of
resolutions duly and regularly adopted by the Board of Directors of said
corporation as required by law, and by the by-laws of said corporation, and that
said resolutions are still in full force and effect and have not been in any way
modified, repealed, rescinded, amended or revoked.

     RESOLVED, that this corporation borrow from Silicon Valley Bank
     ("Silicon"), from time to time, such sum or sums of money as, in the
     judgment of the officer or officers hereinafter authorized hereby, this
     corporation may require.

     RESOLVED FURTHER, that any officer of this corporation be, and he or she is
     hereby authorized, directed and empowered, in the name of this corporation,
     to execute and deliver to Silicon, and Silicon is requested to accept, the
     loan agreements, security agreements, notes, financing statements, and
     other documents and instruments providing for such loans and evidencing
     and/or securing such loans, with interest thereon, and said authorized
     officers are authorized from time to time to execute renewals, extensions
     and/or amendments of said loan agreements, security agreements, and other
     documents and instruments.

     RESOLVED FURTHER, that said authorized officers be and they are hereby
     authorized, directed and empowered, as security for any and all
     indebtedness of this corporation to Silicon, whether arising pursuant to
     this resolution or otherwise, to grant, transfer, pledge, mortgage, assign,
     or otherwise hypothecate to Silicon, or deed in trust for its benefit, any
     property of any and every kind, belonging to this corporation, including,
     but not limited to, any and all real property, accounts, inventory,
     equipment, general intangibles, instruments, documents, chattel paper,
     notes, money, deposit accounts, furniture, fixtures, goods, and other
     property of every kind, and to execute and deliver to Silicon any and all
     grants, transfers, trust receipts, loan or credit agreements, pledge
     agreements, mortgages, deeds of trust, financing statements, security
     agreements and other hypothecation agreements, which said instruments and
     the note or notes and other instruments referred to in the preceding
     paragraph may contain such provisions, covenants, recitals and agreements
     as Silicon may require and said authorized officers may approve, and the
     execution thereof by said authorized officers shall be conclusive evidence
     of such approval.

     RESOLVED FURTHER, that, in connection with the foregoing loans, this
     corporation shall issue to Silicon five-year warrants to purchase the
     Designated Number of shares of common stock of this corporation (the
     Shares"), at a price per share equal to the Designated Price, on the terms
     and provisions set forth in a Warrant to Purchase Stock and related
     documents, on terms and conditions as Silicon and this corporation shall
     agree; any officer of this corporation is hereby

                                      -1-
<PAGE>

     authorized to execute and deliver such Warrant to Purchase Stock and
     related documents, and all documents and instruments relating thereto, in
     such form and containing such additional provisions as said authorized
     officers may approve, and the execution thereof by said authorized officers
     shall be conclusive evidence of such approval. As used herein, the term
     "Designated Price" means the closing price of the Shares reported for the
     trading day immediately before the issuance date of such Warrant to
     Purchase Stock. As used herein, the term "Designated Number" means the
     quotient obtained from dividing (a) $450,000 by (b) the Designated Price.

     RESOLVED FURTHER, that (WHEREAS, it is in the direct interest of this
     corporation to assist MTI Technology B.V., a company organized under the
     laws of The Netherlands and successor-in-interest to all or substantially
     all assets and liabilities of MTI Technology Ireland, Ltd. (the "Obligor")
     in procuring credit from Silicon, because Obligor is an affiliate of this
     corporation, furnishes goods or services to this corporation, purchases or
     acquires goods or services from this corporation, and/or otherwise has a
     direct or indirect corporate or business relationship with this
     corporation), any officer of this corporation is hereby authorized and
     directed to: execute and deliver on behalf of this corporation a guarantee
     with respect to all indebtedness, liabilities and obligations of Obligor to
     Lender, whether now existing or hereafter arising or acquired; to pledge or
     assign to Lender, and to grant to Lender a security interest and lien in,
     any and all assets and property, real and personal, of this corporation as
     security for all indebtedness, liabilities and obligations of this
     corporation to Lender, now existing or hereafter arising, including without
     limitation the obligations of this corporation under said guarantee, and to
     execute and deliver in connection therewith, one or more pledge agreements,
     assignments, security agreements Uniform Commercial Code financing
     statements, deeds of trust and mortgages, in form and substance
     satisfactory to Lender; to execute and deliver any and all amendments,
     modifications, extensions, renewals, replacements and agreements,
     documents, instruments relating to the foregoing or requested by Lender;
     and to execute and deliver any and all instruments, papers and documents
     and to do all other acts that said officers may deem convenient or proper
     to effectuate the purpose and intent of these resolutions.

     RESOLVED FURTHER, that Silicon may conclusively rely upon a certified copy
     of these resolutions and a certificate of the Secretary or Ass't Secretary
     of this corporation as to the officers of this corporation and their
     offices and signatures, and continue to conclusively rely on such certified
     copy of these resolutions and said certificate for all past, present and
     future transactions until written notice of any change hereto or thereto is
     given to Silicon by this corporation by certified mail, return receipt
     requested.

                                      -2-
<PAGE>

                  The undersigned further hereby certifies that the following
persons are the duly elected and acting officers of the corporation named above
as borrower and that the following are their actual signatures:

<TABLE>
<CAPTION>
NAMES                               OFFICE(S)                         ACTUAL SIGNATURES
-----                               ---------                         -----------------
<S>                                 <C>                               <C>

                                     Vice Chairman, President and
Thomas P. Raimondi                   Chief Executive Officer          X /s/ Thomas P. Raimondi
------------------------------      ------------------------------     ---------------------------

Paul W. Emery, II                   Chief Operating Officer           X /s/ Paul W. Emery, II
------------------------------      ------------------------------     ---------------------------

                                    Senior Vice President
                                    Manufacturing and Customer
V.S. Venkataraman                   Service                           X /s/ Venki Venkataraman
------------------------------      ------------------------------     ---------------------------

                                                                      X
------------------------------      ------------------------------     ---------------------------
</TABLE>

                  IN WITNESS WHEREOF, I have hereunto set my hand as such
Secretary or Assistant Secretary on the date set forth above.

                                        /s/ Paul W. Emery, II
                                        ----------------------------------------
                                            Secretary or Assistant Secretary

                                      -3-

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