Document:

<PAGE>   1
                                                                 Exhibit 10.1(i)

                         SEVENTH MODIFICATION AGREEMENT

         BY THIS SEVENTH MODIFICATION AGREEMENT (the "Agreement"), made and
entered into as of the 23rd day of February, 2001, WELLS FARGO BANK, NATIONAL
ASSOCIATION, a national banking association, whose address is 100 West
Washington, Post Office Box 29742, MAC #S4101-251, Phoenix, Arizona 85038-9742
(hereinafter called "Lender"), and APOLLO GROUP, INC., an Arizona corporation,
whose address is 4615 East Elwood Street, Suite 400, Phoenix, Arizona 85040
(hereinafter called "Company"), in consideration of the mutual covenants herein
contained and other good and valuable consideration, the receipt and sufficiency
of which is hereby acknowledged, hereby confirm and agree as follows:

SECTION 1. RECITALS.

         1.1 Company and Lender entered into a Loan Agreement dated November 17,
1997 (as amended, the "Loan Agreement"), which provided for, among other things,
a revolving line of credit (the "RLC") in the amount of $10,000,000.00,
evidenced by a Revolving Promissory Note dated November 17, 1997, executed by
the Company (the "RLC Note"), all upon the terms and conditions contained
therein. The Loan Agreement was previously modified by that Modification
Agreement dated as of February 5, 1998, that Second Modification Agreement dated
as of August 13, 1998, that Third Modification Agreement dated as of April 30,
1999, that Fourth Modification Agreement dated as of August 3, 1999, that Fifth
Modification Agreement dated as of November 1, 1999 and that Sixth Modification
Agreement dated as of March 2, 2000. All undefined capitalized terms used herein
shall have the meaning given them in the Loan Agreement.

         1.2 As of the date hereof, prior to the effect of the modifications
contained herein, the outstanding principal balance of the RLC is $0.00. Lender
has issued for the account of the Company two (2) standby letters of credit in
the amount of $70,161.00 and $5,803,177.00, that expire on March 31, 2001.

         1.3 Company and Lender desire to modify the Loan Agreement as set forth
herein.

SECTION 2. LOAN AGREEMENT.

         The modifications provided in this Section 2 shall be effective as of
February 23, 2001 as though entered into as of such date.

         2.1 The following definition in Section 2.1 of the Loan Agreement is
hereby amended to read as follows:

                  "Maturity Date" means February 1, 2003.

         2.2 Section 7.12 of the Loan Agreement is hereby amended to read as
follows:
<PAGE>   2
                  Section 7.12 Financial Condition. Borrower shall maintain its
         consolidated financial condition as follows using generally accepted
         accounting principles consistently applied and used consistently with
         prior practices (except to the extent modified by the definitions
         herein).

                           (a) Total Liabilities divided by Tangible Net Worth
                  not at any time greater than 1.0 to 1.0, with "Total
                  Liabilities" defined as the aggregate of current liabilities
                  and non-current liabilities less subordinated debt, and with
                  "Tangible Net Worth" defined as the aggregate of total
                  stockholders' equity plus subordinated debt less any
                  intangible assets.

                           (b) Quick Ratio not at any time less than 1.2 to 1.0,
                  with "Quick Ratio" defined as the aggregate of cash,
                  restricted cash, short-term investments and receivables
                  convertible into cash divided by total current liabilities.

                           (c) Net income after taxes not less than $1.00 on an
                  annual basis, determined as of each fiscal year and pre-tax
                  profit not less than $1.00 on a quarterly basis, determined as
                  of each fiscal quarter end.

SECTION 3. OTHER MODIFICATIONS, RATIFICATIONS AND AGREEMENTS.

         3.1 All references to the Loan Agreement in the Loan Agreement, the RLC
Note and the other documents delivered with respect to the RLC (the "Loan
Documents") are hereby amended to refer to the Loan Agreement as hereby amended.

         3.2 Company acknowledges that the indebtedness evidenced by the RLC
Note is just and owing, that the balance thereof is correctly shown in the
records of Lender as of the date hereof, and Company agrees to pay the
indebtedness evidenced by the RLC Note according to the terms thereof, as herein
modified.

         3.3 Company hereby reaffirms to Lender each of the representations,
warranties, covenants and agreements of Company set forth in the RLC Note and
the Loan Agreement, with the same force and effect as if each were separately
stated herein and made as of the date hereof.

         3.4 Company hereby ratifies, reaffirms, acknowledges, and agrees that
the RLC Note and the Loan Agreement, represent valid, enforceable and
collectible obligations of Company, and that there are no existing claims,
defenses, personal or otherwise, or rights of setoff whatsoever with respect to
any of these documents or instruments. In addition, Company hereby expressly
waives, releases and absolutely and forever discharges Lender and its present
and former shareholders, directors, officers, employees and agents, and their
separate and respective heirs, personal representatives, successors and assigns,
from any and all liabilities, claims, demands, damages,

                                      -2-
<PAGE>   3
action and causes of action, whether known or unknown and whether contingent or
matured, that Company may now have, or has had prior to the date hereof, or that
may hereafter arise with respect to acts, omissions or events occurring prior to
the date hereof. To the best of Company's knowledge, Company further
acknowledges and represents that no event has occurred and no condition exists
that, after notice or lapse of time, or both, would constitute a default under
this Agreement, the RLC Note or the Loan Agreement.

         3.5 All terms, conditions and provisions of the RLC Note and the Loan
Agreement are continued in full force and effect and shall remain unaffected and
unchanged except as specifically amended hereby. The RLC Note and the Loan
Agreement, as amended hereby, are hereby ratified and reaffirmed by Company, and
Company specifically acknowledges the validity and enforceability thereof.

SECTION 4. GENERAL.

         4.1 This Agreement in no way acts as a release or relinquishment of
those rights securing payment of the RLC. Such rights are hereby ratified,
confirmed, renewed and extended by Company in all respects.

         4.2 The modifications contained herein shall not be binding upon Lender
until Lender shall have received all of the following:

                  (a) An original of this Agreement fully executed by the
         Company.

                  (b) Such resolutions or authorizations and such other
         documents as Lender may reasonably require relating to the existence
         and good standing of the Company and the authority of any person
         executing this Agreement or other documents on behalf of the Company.

         4.3 Company shall execute and deliver such additional documents and do
such other acts as Lender may reasonably require to fully implement the intent
of this Agreement.

         4.4 Company shall pay all costs and expenses, including, but not
limited to, reasonable attorneys' fees incurred by Lender in connection
herewith, whether or not all of the conditions described in Paragraph 4.2 above
are satisfied. Lender, at its option, but without any obligation to do so, may
advance funds to pay any such costs and expenses that are the obligation of the
Company, and all such funds advanced shall be due and payable upon demand.

         4.5 Notwithstanding anything to the contrary contained herein or in any
other instrument executed by Company or Lender, or in any other action or
conduct undertaken by Company or Lender on or before the date hereof, the
agreements, covenants and provisions contained herein shall constitute the only
evidence of Lender's consent to modify the terms and provisions of the Loan
Agreement. Accordingly, no express or implied consent to any further
modifications involving any of the matters set forth in this Agreement or
otherwise shall be inferred or implied by Lender's execution of this Agreement.
Further, Lender's execution of this Agreement shall not constitute a

                                      -3-
<PAGE>   4
waiver (either express or implied) of the requirement that any further
modification of the RLC or of the RLC Note or the Loan Agreement, shall require
the express written approval of Lender; no such approval (either express or
implied) has been given as of the date hereof.

         4.6 Time is hereby declared to be of the essence hereof of the RLC, of
the RLC Note and of the Loan Agreement, and Lender requires, and Company agrees
to, strict performance of each and every covenant, condition, provision and
agreement hereof, of the RLC Note and the Loan Agreement.

         4.7 This Agreement shall be binding upon, and shall inure to the
benefit of, the parties hereto and their heirs, personal representatives,
successors and assigns.

         4.8 This Agreement is made for the sole protection and benefit of the
parties hereto, and no other person or entity shall have any right of action
hereon.

         4.9 This Agreement shall be governed by and construed according to the
laws of the State of Arizona.

         IN WITNESS WHEREOF, these presents are executed as of the date
indicated above.

                                    WELLS FARGO BANK, NATIONAL
                                    ASSOCIATION, a national banking association

                                    By:
                                       -----------------------------------------
                                    Name:
                                         ---------------------------------------
                                    Its:
                                        ----------------------------------------

                                                                          LENDER

                                    APOLLO GROUP, INC., an Arizona corporation

                                    By:
                                       -----------------------------------------
                                    Name:
                                         ---------------------------------------
                                    Its:
                                        ----------------------------------------

                                                                         COMPANY

                                      -4-<PAGE>   1
                                                                     EXHIBIT 4.2

NUMBER                                                                    SHARES
TSR

INCORPORATED UNDER THE LAWS                  SEE REVERSE FOR CERTAIN DEFINITIONS
 OF THE STATE OF DELAWARE                              CUSIP 87651B 10 4

                             TASER INTERNATIONAL, INC.

This certifies that ____________________________________________________________

is the record holder of ________________________________________________________

              FULLY PAID AND NONASSESSABLE SHARES OF COMMON STOCK,
                        $0.00001 PAR VALUE PER SHARE, OF

                            TASER INTERNATIONAL, INC.

transferable on the books of the corporation by the holder hereof in person or
by duly authorized attorney upon surrender of this certificate properly
endorsed. This certificate is not valid until countersigned and registered by
the Transfer Agent and Registrar.

     WITNESS the facsimile signatures of its duly authorized officers.

     Dated:

_________________________                          __________________________
               SECRETARY                                            PRESIDENT

                            TASER INTERNATIONAL, INC.

         The Corporation will furnish without charge to each stockholder who so
requests a statement of the powers, designations, preferences and relative,
participating, optional or other special rights of each class of stock of the
Corporation or series thereof and the qualifications, limitations or
restrictions of such preferences and/or rights. Such requests shall be made to
the Corporation's Secretary at the principal office of the Corporation.

         The following abbreviations, when used in the inscription on the face
of this certificate, shall be construed as though they were written out in full
according to applicable laws or regulations.

                    TEN COM   -    as tenants in common
                    TEN ENT   -    as tenants by the entireties
                    JT TEN    -    as joint tenants with rights of survivorship
                                   and not as tenants in common

UNIF GIFT MIN ACT             -         _________________Custodian______________
                                            (Cust)                  (minor)
                                        under Uniform Gifts to Minors Act

                                        ________________________________________
<PAGE>   2
                                                       (State)

UNIF TRF MIN ACT              -         _________________Custodian______________
                                              (Cust)                  (minor)
                                        under Uniform Gifts to Minors Act

                                        ________________________________________
                                                        (State)

     Additional abbreviations may also be used though not in the above list

For value received, ______________________________________
hereby sell(s), assign(s), and transfer(s) unto

(PLEASE INSERT SOCIAL SECURITY OR OTHER IDENTIFYING NUMBER OF ASSIGNEE)

________________________________________________________________________________
________________________________________________________________________________
________________________________________________________________________________
        (PLEASE PRINT NAME AND ADDRESS, INCLUDING ZIP CODE, OF ASSIGNEE)

_________________________________________________________________________ Shares
of the common stock represented by the within certificate, and do hereby
irrevocably constitute and appoint
_____________________________________________________________________________
Attorney to transfer the said stock on the books of the within named Corporation
with full power of substitution in the premises.

Dated:__________________, ________

                                         X _____________________________________
                                         X _____________________________________
NOTICE: THE SIGNATURE TO THIS ASSIGNMENT MUST CORRESPOND WITH THE NAME AS
        WRITTEN UPON THE FACE OF THE CERTIFICATE IN EVERY PARTICULAR WITHOUT
        ALTERATION OR ENLARGEMENT OR ANY CHANGE WHATSOEVER.

Signature(s) Guaranteed:

_________________________________________

THE SIGNATURE(S) MUST BE GUARANTEED BY AN ELIGIBLE GUARANTOR INSTITUTION (BANKS,
STOCKBROKERS, SAVINGS AND LOAN ASSOCIATIONS AND CREDIT UNIONS WITH MEMBERSHIP IN
AN APPROVED SIGNATURE GUARANTEE MEDALLION PROGRAM), PURSUANT TO S.E.C. RULE
17AD-15.

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00024-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00024-of-00352.parquet"}]]