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  Exhibit 10.6.2    
    

 
  AMENDMENT NUMBER TWO TO LOAN AND SECURITY AGREEMENT

        This
AMENDMENT NUMBER TWO TO LOAN AND SECURITY AGREEMENT ("Amendment"), is entered into as of February 15, 2008, 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, 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.    Sections 6.7(a) and (b) of the Agreement are hereby amended in its entirety to read
as follows: 

        (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 (except for the period ending on September 30, 2007, which shall be measured on a trailing nine (9) month basis), shall not
be less than the following: 

 

 

			
	Period

 
	 	Minimum EBITDA 
	 For the fiscal quarter ending September 30, 2007
	 	$(4,000,000)
	 For the fiscal quarter ending December 31, 2007
	 	 $(5,500,000)

	 For the fiscal quarter ending March 31, 2008
	 	 $(3,200,000)

	 For the fiscal quarter ending June 30, 2008
	 	 $(3,000,000)

	 For the fiscal quarter ending September 30, 2008
	 	 $(3,000,000)

	 For the fiscal quarter ending December 31, 2008
	 	 $(2,700,000)

 

 
        (b)   Reset of Financial Covenant.    With respect to each new year during the term of this Agreement, the above
financial covenant shall be reset on or before December 31st of the immediately preceding year on terms and conditions reasonably satisfactory to Bank. Notwithstanding the foregoing,
Borrowers' may request that the minimum EBITDA amounts set forth above with respect to any period within Borrowers' fiscal year ending December 31, 2008, be reset if the board approved plan
previously delivered to Bank for such fiscal year changes significantly by such fiscal year end, which request may be granted by Bank in its sole discretion. 

        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). 

1

 

        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 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] 

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        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/ Chad Neely

 
	 	 	 Name:	 	 Chad Neely

 
	 	 	 Title:	 	 Vice President

 

 

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Amendment Number Two to Loan and Security Agreement 

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Exhibit 10.6.2

AMENDMENT NUMBER TWO TO LOAN AND SECURITY AGREEMENTExhibit
10.6.3

 

DAILY ADJUSTING LIBOR RATE/DAILY ADJUSTING LIBOR RATE
WITH FLOOR

ADDENDUM TO LOAN AND SECURITY AGREEMENT

 

This
Daily Adjusting LIBOR Rate/ Daily Adjusting LIBOR Rate with Floor Addendum to
Loan and Security Agreement (this “Addendum”) 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”).  This
Addendum supplements the terms of the Loan and Security Agreement dated October 26,
2007 (as the same may be amended, modified, supplemented, extended or restated
from time to time, the “Agreement”).

 

1.                                       Definitions.  As used in this Addendum, the following terms
shall have the following meanings. 
Initially capitalized terms used and not defined in this Addendum shall
have the meanings ascribed thereto in the Agreement.

 

b.                                      “Applicable
Interest Rate” means the Daily Adjusting LIBOR Rate plus the Applicable Margin,
the Daily Adjusting LIBOR Rate with Floor plus the Applicable Margin or
(subject to the terms of this Addendum) the Prime Referenced Rate plus the
Applicable Margin, as selected by Administrative Borrower from time to time or
as otherwise determined in accordance with the terms and conditions of this
Addendum.

 

c.                                       “Applicable Margin” means:

 

(1)                                  in respect of Daily Adjusting LIBOR Rate,
three and one-quarter percent (3.25%) per annum; and

 

(2)                                  in respect of the Daily Adjusting LIBOR
Rate with Floor and, to the extent applicable, the Prime Referenced Rate, three
percent (3.00%) per annum.

 

d.                                      “Business Day” means any day, other than a Saturday, Sunday
or any other day designated as a holiday under Federal or applicable State statute
or regulation, on which Bank is open for all or substantially all of its
domestic and international business (including dealings in foreign exchange) in  San Jose, California, and, in respect of
notices and determinations relating the Daily Adjusting LIBOR Rates, also a day
on which dealings in dollar deposits are also carried on in the London
interbank market and on which banks are open for business in London, England.

 

e.                                       “Daily Adjusting LIBOR Rate” means, for any day, a per annum
interest rate which is equal to the quotient of the following:

 

(1)                                  for any day, the
per annum rate of interest determined on the basis of the rate for deposits in
United States Dollars for a period equal to one (1) month appearing on Page BBAM
of the Bloomberg Financial Markets Information Service as of 8:00 a.m.
(California time) (or as soon thereafter as practical) on such day, or if such
day is not a Business Day, on the immediately preceding Business Day.  In the event that such rate does not appear
on Page BBAM of the Bloomberg Financial Markets Information Service (or
otherwise on such Service) on any day, the “Daily Adjusting LIBOR Rate” for
such day shall be determined by reference to such other publicly available
service for displaying eurodollar rates as may be reasonably selected by Bank,
or in the absence of such other service, the “Daily Adjusting LIBOR Rate” for
such day shall, instead, be determined based upon the average of the rates at
which Bank is offered dollar deposits at or about 8:00 a.m. (California
time) (or as soon thereafter as practical), on such day, or if such day is not
a Business Day, on the immediately preceding Business Day, in the interbank
eurodollar market in an amount comparable to the principal amount of the
Obligations and for a period equal to one (1) month;

 

divided by

 

1

 

(2)                                  1.00 minus the
maximum rate (expressed as a decimal) on such day at which Bank is required to
maintain reserves on “Euro-currency Liabilities” as defined in and pursuant to
Regulation D of the Board of Governors of the Federal Reserve System or, if
such regulation or definition is modified, and as long as Bank is required to
maintain reserves against a category of liabilities which includes eurodollar
deposits or includes a category of assets which includes eurodollar loans, the
rate at which such reserves are required to be maintained on such category.

 

f.                                         “Daily Adjusting LIBOR Rates” means, collectively, the Daily
Adjusting LIBOR Rate and the Daily Adjusting LIBOR Rate with Floor.

 

g.                                      “Daily Adjusting LIBOR Rate with Floor” means the Daily
Adjusting LIBOR Rate; provided, however, in no event and at no
time shall the Daily Adjusting LIBOR Rate be less than two percent (2.00%) per
annum.

 

h.                                      “LIBOR Lending Office” means Bank’s office located in the
Cayman Islands, British West Indies, or such other branch of Bank, domestic or
foreign, as it may hereafter designate as its LIBOR Lending Office by notice to
Administrative Borrower.

 

i.                                          “Prime Rate” means the per annum interest rate established
by Bank as its prime rate for its borrowers, as such rate may vary from time to
time, which rate is not necessarily the lowest rate on loans made by Bank at
any such time.

 

f.                                         “Prime
Referenced Rate” means a per annum interest rate which is equal to the Prime
Rate, but in no event less than two and one-half percent (2.50%) per annum.

 

2.                                       Interest Rate Options.  Subject to the terms and conditions of this
Addendum, the Obligations under the Agreement shall bear interest at the Daily
Adjusting LIBOR Rate plus the Applicable Margin or the Daily Adjusting LIBOR
Rate with Floor plus the Applicable Margin, except during any period of time
during which, in accordance with the terms and conditions of this Addendum, the
Obligations under the Agreement shall bear interest at the Prime Referenced
Rate plus the Applicable Margin.

 

3.                                       Payment of Interest.  Accrued and unpaid interest on the unpaid
balance of the Obligations outstanding under the Agreement shall be payable
pursuant to the terms of the Agreement.  In the event
that any payment under this Addendum becomes due and payable on any day which
is not a Business Day, the due date thereof shall be extended to the next
succeeding Business Day, and, to the extent applicable, interest shall continue
to accrue and be payable thereon during such extension at the rates set forth
in this Addendum.  Interest accruing hereunder shall be computed on the basis
of a year of 360 days, and shall be assessed for the actual number of days
elapsed, and in such computation, effect shall be given to any change in the
Applicable Interest Rate as a result of any change in the Daily Adjusting LIBOR
Rates or, to the extent applicable, the Prime Referenced Rate on the date of
each such change.

 

4.                                       Bank’s Records.  The amount and date of each advance under the
Agreement, its Applicable Interest Rate, and the amount and date of any
repayment shall be noted on Bank’s records, which records shall be conclusive
evidence thereof, absent manifest error; provided, however, any
failure by Bank to make any such notation, or any error in any such notation,
shall not relieve Borrowers of its obligations to repay Bank all amounts
payable by Borrowers to Bank under or pursuant to this Addendum and the
Agreement, when due in accordance with the terms hereof.   For any advance under the Agreement bearing
interest at the Daily Adjusting LIBOR Rates, if Bank shall designate a LIBOR
Lending Office which maintains books separate from those of the rest of Bank,
Bank shall have the option of maintaining and carrying such advance on the
books of such LIBOR Lending Office.

 

5.                                       Default Interest Rate.  From and after the occurrence of any Event of
Default, and so long as any such Event of Default remains unremedied or uncured
thereafter, the Obligations outstanding under the Agreement shall bear interest
at the default rate set forth in the Agreement, which interest shall be payable
upon demand.  In addition to the
foregoing, a late payment charge equal to the amount set forth in the Agreement
may be charged on any 

 

2

 

payment
not received by Bank in accordance with the terms and conditions set forth in
the Agreement, but acceptance of payment of any such charge shall not
constitute a waiver of any Event of Default under the Agreement.  In no event shall the interest payable under
this Addendum and the Agreement at any time exceed the maximum rate permitted
by law.

 

6.                                       Prepayment.   Borrowers may prepay all or part of the
outstanding balance of any Obligations at any time without premium or
penalty.  Any prepayment hereunder shall
also be accompanied by the payment of all accrued and unpaid interest on the
amount so prepaid.  Borrowers hereby
acknowledge and agree that the foregoing shall not, in any way whatsoever,
limit, restrict, or otherwise affect Bank’s right to make demand for payment of
all or any part of the Obligations under the Agreement due on a demand basis in
Bank’s sole and absolute discretion.

 

7.                                       Regulatory Developments or Other Circumstances Relating to
the Daily Adjusting LIBOR Rates.

 

a.                                       If, at any time, Bank determines that, (1) Bank is
unable to determine or ascertain the Daily Adjusting LIBOR Rate or the Daily
Adjusting LIBOR Rate with Floor, or (2) by reason of circumstances
affecting the foreign exchange and interbank markets generally, deposits in
eurodollars in the applicable amounts or for the relative maturities are not
being offered to Bank, or (3) the Daily Adjusting LIBOR Rate plus the
Applicable Margin or the Daily Adjusting LIBOR Rate with Floor plus Applicable
Margin will not accurately or fairly cover or reflect the cost to Bank of
maintaining any of the Obligations under this Addendum at such Daily Adjusting
LIBOR Rate, then Bank shall forthwith give notice thereof to Administrative
Borrower.  Thereafter, until Bank
notifies Administrative Borrower that such conditions or circumstances no
longer exist, the Prime Referenced Rate plus the Applicable Margin shall be the
Applicable Interest Rate for all Obligations during such period of time.

 

b.                                      If, after the date hereof, the introduction of, or any
change in, any applicable law, rule or regulation or in the interpretation
or administration thereof by any governmental authority charged with the
interpretation or administration thereof, or compliance by Bank (or its LIBOR
Lending Office) with any request or directive (whether or not having the force
of law) of any such authority, shall make it unlawful or impossible for Bank
(or its LIBOR Lending Office) to make or maintain any Obligations under the
Agreement with interest based upon the Daily Adjusting LIBOR Rates, Bank shall
forthwith give notice thereof to Administrative Borrower.  Thereafter, until Bank notifies
Administrative Borrower that such conditions or circumstances no longer exist,
the Prime Referenced Rate plus the Applicable Margin shall be the Applicable
Interest Rate for all Obligations during such period of time.

 

c.                                       If the adoption after the date hereof, or any change after
the date hereof in, any applicable law, rule or regulation (whether
domestic or foreign) of any governmental authority, central bank or comparable
agency charged with the interpretation or administration thereof, or compliance
by Bank (or its LIBOR Lending Office) with any request or directive (whether or
not having the force of law) made by any such authority, central bank or
comparable agency after the date hereof: (a) shall subject Bank (or its
LIBOR Lending Office) to any tax, duty or other charge with respect to this
Addendum or any Obligations under the Agreement, or shall change the basis of
taxation of payments to Bank (or its LIBOR Lending Office) of the principal of
or interest under this Addendum or any other amounts due under this Addendum in
respect thereof (except for changes in the rate of tax on the overall net
income of Bank or its LIBOR Lending Office imposed by the jurisdiction in which
Bank’s principal executive office or LIBOR Lending Office is located); or (b) shall
impose, modify or deem applicable any reserve (including, without limitation,
any imposed by the Board of Governors of the Federal Reserve System), special
deposit or similar requirement against assets of, deposits with or for the
account of, or credit extended by Bank (or its LIBOR Lending Office), or shall
impose on Bank (or its LIBOR Lending Office) or the foreign exchange and
interbank markets any other condition affecting this Addendum or the
Obligations; and the result of any of the foregoing is to increase the cost to
Bank of maintaining any part of the Obligations or to reduce the amount of any
sum received or receivable by Bank under this Addendum by an amount deemed by
Bank to be material, then Borrowers shall pay to Bank, within fifteen (15) days
of Administrative Borrower’s receipt of written notice from Bank demanding such
compensation, such additional amount or amounts as will compensate Bank for
such increased cost or reduction.  A
certificate of Bank, prepared in good faith and in reasonable detail by Bank
and submitted by Bank to Administrative Borrower, setting forth the basis for
determining such additional amount or amounts necessary to compensate Bank
shall be conclusive and binding for all purposes, absent manifest error.

 

3

 

d.                                      In the event that any applicable law, treaty, rule or
regulation (whether domestic or foreign) now or hereafter in effect and whether
or not presently applicable to Bank, or any interpretation or administration
thereof by any governmental authority charged with the interpretation or
administration thereof, or compliance by Bank with any guideline, request or
directive of any such authority (whether or not having the force of law),
including any risk-based capital guidelines, affects or would affect the amount
of capital required or expected to be maintained by Bank (or any corporation
controlling Bank), and Bank determines that the amount of such capital is
increased by or based upon the existence of any obligations of Bank hereunder
or the maintaining of any Obligations, and such increase has the effect of
reducing the rate of return on Bank’s (or such controlling corporation’s)
capital as a consequence of such obligations or the maintaining of such
Obligations to a level below that which Bank (or such controlling corporation)
could have achieved but for such circumstances (taking into consideration its
policies with respect to capital adequacy), then Borrowers shall pay to Bank,
within fifteen (15) days of Administrative Borrower’s receipt of written notice
from Bank demanding such compensation, additional amounts as are sufficient to
compensate Bank (or such controlling corporation) for any increase in the
amount of capital and reduced rate of return which Bank reasonably determines
to be allocable to the existence of any obligations of Bank hereunder or to
maintaining any Obligations.  A
certificate of Bank as to the amount of such compensation, prepared in good
faith and in reasonable detail by Bank and submitted by Bank to Administrative
Borrower, shall be conclusive and binding for all purposes absent manifest
error.

 

8.                                       Legal Effect.  Except as specifically modified hereby, all
of the terms and conditions of the Agreement remain in full force and effect.

 

9.                                       Conflicts.  As to the matters specifically the subject of
this Addendum, in the event of any conflict between this Addendum and the
Agreement, the terms of this Addendum shall control.

 

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4

 

IN WITNESS WHEREOF, the
parties have agreed to the foregoing as of the date first set forth above.

 

	
   

  	
  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

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