Document:

Seventh Amendment to Loan and Security Agreement

 EXHIBIT 10.5H 
 SEVENTH AMENDMENT 
 TO 

LOAN AND SECURITY AGREEMENT 
 This Seventh Amendment to Loan and Security Agreement is entered into as of May 27, 2010 (the “Amendment”) by and between SQUARE 1 BANK (“Bank”) and THE ACTIVE NETWORK, INC.
(“Borrower”). 
 RECITALS 
 Borrower and Bank are parties to that certain Loan and Security Agreement dated as of October 30, 2008, as may be amended from time to time, including without limitation by that certain Waiver to
Loan and Security Agreement dated as of June 22, 2009, by that certain Consent dated August 31, 2009, by that certain Consent and First Amendment to Loan and Security Agreement dated September 29, 2009, that certain Second Amendment
to Loan and Security Agreement dated as of October 29, 2009, that certain Third Amendment to Loan and Security Agreement dated as of November 30, 2009, that certain Fourth Amendment to Loan and Security Agreement dated as of
January 26, 2010, that certain Fifth Amendment and Waiver to Loan and Security Agreement dated March 31, 2010, that certain Sixth Amendment to Loan and Security Agreement dated as of April 21, 2010, and that certain Consent Letter
dated April 27, 2010 (collectively, the “Agreement”). The parties desire to amend the Agreement in accordance with the terms of this Amendment. 
 NOW, THEREFORE, the parties agree as follows: 
 1. Section 6.2(ii) of
the Agreement is hereby amended to delete the words “150 days” and insert the words “195 days” in lieu thereof. 
 2. Section 6.7(a) of the Agreement is hereby amended to read as follows: 
 (a) Adjusted Quick Ratio. To be tested on a monthly basis, for the period ended December 31, 2009 and thereafter, an Adjusted Quick Ratio of at least 1.00 to 1.00. 

3. The following defined term in Exhibit A of the Agreement is amended to read as follows: 

“Revolving Maturity Date” means July 15, 2010. 

4. Exhibit E attached to the Agreement is hereby replaced with Exhibit E attached hereto. 

5. Unless otherwise defined, all initially capitalized terms in this Amendment shall be as defined in the Agreement. The Agreement
shall be and remain in full force and effect in accordance with its respective terms and hereby is ratified and confirmed in all respects. Except as expressly set forth herein, the execution, delivery, and performance of this Amendment shall not
operate as a waiver of, or as an amendment of, any right, power, or remedy of Bank under the Agreement, as in effect prior to the date hereof. Borrower ratifies and reaffirms the continuing effectiveness of all agreements entered into in connection
with the Agreement, in each case, as amended hereby. 
 6. Borrower represents and warrants that the representations and
warranties contained in the Agreement are true and correct as of the date of this Amendment, other than (i) to the extent such representations and warranties expressly relate to an earlier date, which representations and warranties are true and
correct as of such date; and (ii) for those changes to the representations and warranties resulting 

  
 1 

 
from events, occurrences or circumstances pertaining to the Borrower’s business and permitted under the Agreement and other Loan Documents. 

7. This Amendment may be executed in two or more counterparts, each of which shall be deemed an original, but all of which
together shall constitute one instrument. 
 8. As a condition to the effectiveness of this Amendment, Bank shall have
received, in form and substance satisfactory to Bank, the following: 
 (a) this Amendment, duly executed by
Borrower; 
 (b) an amendment fee of $5,000 and an amount equal to all reasonable Bank Expenses incurred through
the date of this Amendment; and 
 (c) such other documents, and completion of such other matters, as Bank may
reasonably deem necessary or appropriate. 
 [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK] 

  
 2 

 IN WITNESS WHEREOF, the undersigned have executed this Amendment as of the first date above
written. 
  

			
	THE ACTIVE NETWORK, INC.
		
	By:	 	/s/ Mike Skelly
	Title:	 	VP Finance
	
	SQUARE 1 BANK
		
	By:	 	/s/ illegible
	Title:	 	AVP – Venture Banking

  
 3 

 EXHIBIT E 
 COMPLIANCE CERTIFICATE 

 1      compliance certificate 

              Borrower | Active Network, Inc.

 The undersigned authorized Officer of The Active Network, Inc. (“Borrower”), hereby certifies that in
accordance with the terms and conditions of the Loan and Security Agreement between Borrower and Bank (the “Agreement”), (i) Borrower is in complete compliance for the period ending _______________, with all covenants except as noted
below; and (ii) all representations and warranties of Borrower stated on the Agreement are true and correct as of the date hereof. Attached herewith are the required documents supporting the above certification. The Officer further certifies
that these are prepared in accordance with Generally Accepted Accounting Principles (GAAP) and are consistently applied from one period to the next, except as explained in an accompanying letter or footnotes. 

                    Reporting
Covenants 
 Please indicate compliance status by circling YES or NO under the COMPLIES column. 

 

									
	COVENANTS	  	REQUIRED	  	COMPLIES
	Monthly financial statements	  	Monthly, within 30 days	  	 	YES	  	  	NO
	Unqualified CPA Audit (or qualified opinion)	  	FYE within 150 days	  	 	YES	  	  	NO
	A/R & A/P Agings, Borrowing Base Cert.	  	Monthly, within 30 days	  	 	YES	  	  	NO
	A/R Audit	  	Semi-Annual	  	 	YES	  	  	NO
	Budgets, sale projections, operating plans, etc.	  	As provided to Board	  	 	YES	  	  	NO
	Monthly Wells Fargo bank statements	  	Monthly, within 30 days	  	 	YES	  	  	NO
	Total amount of Borrower’s Cash and investments	  	Amount $____________	  	 	YES	  	  	NO
	Total amount of Borrower’s Cash and investments	  	Amount $____________	  	 	YES	  	  	NO
	 Maintained with Bank (Min. $5,000,000)
	  		  				  	

                    Financial
Covenants 
 Please list financial covenants below and circle YES or NO under the COMPLIES column. 

 

											
	COVENANTS	  	REQUIRED	  	ACTUAL	  	COMPLIES
					
	      AQR	  		  		  	 	YES	  	  	NO

 Defined as Cash plus A/R
divided by Current Liabilities plus all Bank 
 Debt (including any and all Standby Letters of Credit) less Deferred Revenues,
Accruals, and Subordinated Debt 
 Please enter comments regarding covenant violations 

 
  

By signing below, the Officers further acknowledge that at any time Borrower is not in compliance with all the terms set forth in the
Agreement, including, without limitation, the financial covenants, and such non-compliance results in a Default or Event of Default and such Default or Event of Default is continuing, then no credit extensions will be made. 

 

									
		  		  	    Please Send All Required Reporting to:
	X                            
                                    	  	________	  		  	address	  	Square 1 Bank
	authorized signature	  	date	  		  		  	ATTN: Portfolio Analysis Dept.
		  		  		  		  	406 Blackwell Street, Suite 240
	name:        Steve Kemper	  		  		  	Durham, NC 27701
		  		  		  	web link	  	www.square1bank.com
	title:          Chief Financial Officer	  		  	phone	  	(919) 314-3137
		  		  		  	fax	  	(919) 314-3090
		  		  		  	email	  	SanDiegoReports@square1bank.com

                    For Bank Use
Only 
  

									
	received by |	  	date |	  	 	  	reviewed by |	  	date |
	financial compliance status:	  	YES	  	NO	  		  	

  

			
	Square 1 Bank Confidential	 	New Borrower’s Kit v 1.1Eighth Amendment to Loan and Security Agreement

 EXHIBIT 10.5I 
 EIGHTH AMENDMENT 
 TO 

LOAN AND SECURITY AGREEMENT 
 This Eighth Amendment to Loan and Security Agreement is entered into as of July 15, 2010 (the “Amendment”) by and between SQUARE 1 BANK (“Bank”) and THE ACTIVE NETWORK, INC.
(“Borrower”). 
 RECITALS 
 Borrower and Bank are parties to that certain Loan and Security Agreement dated as of October 30, 2008, as may be amended from time to time, including without limitation by that certain Waiver to
Loan and Security Agreement dated as of June 22, 2009, by that certain Consent dated August 31, 2009, by that certain Consent and First Amendment to Loan and Security Agreement dated September 29, 2009, that certain Second Amendment
to Loan and Security Agreement dated as of October 29, 2009, that certain Third Amendment to Loan and Security Agreement dated as of November 30, 2009, that certain Fourth Amendment to Loan and Security Agreement dated as of
January 26, 2010, that certain Fifth Amendment and Waiver to Loan and Security Agreement dated March 31, 2010, that certain Sixth Amendment to Loan and Security Agreement dated as of April 21, 2010, that certain Consent Letter dated
April 27, 2010, and that certain Seventh Amendment to Loan and Security Agreement dated as of May 27, 2010 (collectively, the “Agreement”). The parties desire to amend the Agreement in accordance with the terms of this Amendment.

 NOW, THEREFORE, the parties agree as follows: 
 1. Section 2.3(a) of the Agreement is amended in its entirety to read as follows: 
 (a) Interest Rates. 
 (i) Advances. Except as set
forth in Section 2.3(b), the Advances shall bear interest, on the outstanding daily balance thereof, at a variable annual rate equal to the greater of (i) 1% above the Prime Rate then in effect and (ii) 5.0%. 

(ii) Equipment Advances. Except as set forth in Section 2.3(b), the Equipment Advances shall bear interest, on
the outstanding daily balance thereof, at a variable annual rate equal to the greater of (i) 1% above the Prime Rate then in effect and (ii) 5.0%. 
 2. A new Section 6.11 is added to the Agreement to read as follows: 
 6.11 Pass-through Fees. Deposit the cash proceeds of at least seventy-five percent (75%) of US dollar Accounts (other than the portion of any Account that represents Pass-through Fees that
Borrower owes from time to time to the event organizer, park and recreation department administrators, state administrators or league administrators) in account number 111329 at Bank and/or account numbers 412118781 and 4121826887 at Wells Fargo
Bank (collectively, the “Collateral Accounts”); provided, however, Borrower shall be permitted to deposit no more than ten percent (10%) of US dollar accounts (other than the portion of any Account that represents Pass-through Fees
that Borrower owes from time to time to the event organizer, park and recreation department administrators, state administrators or league administrators) in accounts other than the Collateral Accounts; provided the remaining fifteen percent
(15%) of US dollar Accounts (other than the portion of any Account that represents Pass-through Fees that Borrower owes from time to time to the event organizer, park and recreation department administrators,

  
 1 

 
state administrators or league administrators) shall be deposited into the Collateral Accounts within five (5) business days of receipt of such Accounts. Borrower shall not deposit the cash
proceeds of any Account that represent Pass-through Fees that Borrower owes from time to time to the event organizer, park and recreation department administrators, state administrators or league administrators in the Collateral Accounts.

 3. The defined term “Registration Fees Payable” is hereby deleted in its entirety in Exhibit A of the
Agreement. 
 4. The following defined term is hereby added to Exhibit A of the Agreement as follows: 

“Pass-through Fees” means the fees paid or to be paid to Borrower by registrants for events, licenses, or other
services for which Borrower provides registration, licensing, or other pass-through services. 
 5. The following defined
terms in Exhibit A of the Agreement are amended to read as follows: 
 “Ancillary Services Sublimit”
means a sublimit for Ancillary Services under the Revolving Line not to exceed $7,000,000, provided, upon the receipt of (i) a 2009 CPA audit, (ii) a Collateral audit, the results of which are acceptable to Bank in its sole discretion, and
(iii) an affirmation of subordination agreement with Pinnacle National Bank, “Ancillary Services Sublimit” means a sublimit for Ancillary Services under the Revolving Line not to exceed $12,000,000 less any outstanding Equipment
Advances. 
 “Revolving Line” means a Credit Extension of up to $7,000,000 (inclusive of any amounts
outstanding under the Ancillary Services Sublimit) provided, upon the receipt of (i) a 2009 CPA audit, (ii) a Collateral audit, the results of which are acceptable to Bank in its sole discretion, and (iii) an affirmation of
subordination agreement with Pinnacle National Bank, “Revolving Line” means a Credit Extension of up to $12,000,000 (inclusive of any amounts outstanding under the Ancillary Services Sublimit) less any outstanding Equipment Advances.

 “Revolving Maturity Date” means July 15, 2011. 

6. A new clause “o” is added to the defined term “Eligible Accounts” in Exhibit A of the Agreement to read as
follows: 
 (o) that portion of any Account that represents Pass-through Fees that Borrower owes from time to
time to the event organizer, park and recreation department administrators, state administrators or league administrators. 

7. Exhibit B attached to the Agreement is hereby replaced with Exhibit B attached hereto. 

8. Exhibit D attached to the Agreement is hereby replaced with Exhibit D attached hereto. 

9. Unless otherwise defined, all initially capitalized terms in this Amendment shall be as defined in the Agreement. The Agreement
shall be and remain in full force and effect in accordance with its respective terms and hereby is ratified and confirmed in all respects. Except as expressly set forth herein, the execution, delivery, and performance of this Amendment shall not
operate as a waiver of, or as an amendment of, any right, power, or remedy of Bank under the Agreement, as in effect prior to the date 

  
 2 

 
hereof. Borrower ratifies and reaffirms the continuing effectiveness of all agreements entered into in connection with the Agreement, in each case, as amended hereby. 

10. Borrower represents and warrants that the representations and warranties contained in the Agreement are true and correct as of
the date of this Amendment, other than (i) to the extent such representations and warranties expressly relate to an earlier date, which representations and warranties are true and correct as of such date; and (ii) for those changes to the
representations and warranties resulting from events, occurrences or circumstances pertaining to the Borrower’s business and permitted under the Agreement and other Loan Documents. 

11. This Amendment may be executed in two or more counterparts, each of which shall be deemed an original, but all of which
together shall constitute one instrument. 
 12. As a condition to the effectiveness of this Amendment, Bank shall have
received, in form and substance satisfactory to Bank, the following: 
 (a) this Amendment, duly executed by
Borrower; 
 (b) corporate resolutions for Borrower; 

(c) an affirmation of guaranty (Automated License Systems, Inc.); 

(d) an unconditional guaranty (ReserveAmerica, Inc.); 

(e) UCC Financing Statement (ReserveAmerica, Inc.); 

(f) resolutions to guaranty (ReserveAmerica, Inc.); 

(g) an affirmation and amendment of subordination agreement (Escalate Capital I, L.P. and Gold Hill Venture Lending 03,
LP); 
 (h) original stock certificates representing shares of Reserve America Holdings, ULC held by Borrower and
assignments separate from certificate with respect to shares of Reserve America Holdings, ULC held by Borrower; 

(i) an amendment fee of $20,000 and an amount equal to all reasonable Bank Expenses incurred through the date of this
Amendment; and 
 (j) such other documents, and completion of such other matters, as Bank may reasonably deem
necessary or appropriate. 
 [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK] 

  
 3 

 IN WITNESS WHEREOF, the undersigned have executed this Amendment as of the first date above
written. 
  

			
	THE ACTIVE NETWORK, INC.
		
	By:	 	/s/ Scott Mendel
	Title:	 	CFO
	
	SQUARE 1 BANK
		
	By:	 	/s/ Peter Drees
	Title:	 	Senior Vice President

  
 4 

 DEBTOR: THE ACTIVE NETWORK, INC. 
 SECURED PARTY: SQUARE 1 BANK 
 EXHIBIT B 

COLLATERAL DESCRIPTION ATTACHMENT TO LOAN AND SECURITY AGREEMENT 
 All personal property of Borrower (herein referred to as “Borrower” or “Debtor”) whether presently existing or hereafter created or acquired, and wherever located, including, but not
limited to: 
 (i) all accounts (including health-care-insurance receivables), chattel paper (including tangible and electronic chattel
paper), deposit accounts, documents (including negotiable documents), equipment (including all accessions and additions thereto), financial assets, general intangibles (including patents, trademarks, copyrights, goodwill, payment intangibles and
software), goods (including fixtures), instruments (including promissory notes), inventory (including all goods held for sale or lease or to be furnished under a contract of service, and including returns and repossessions), investment property
(including securities and securities entitlements), letter of credit rights, money, and all of Debtor’s books and records with respect to any of the foregoing, and the computers and equipment containing said books and records; 

(b) any and all cash proceeds and/or noncash proceeds of any of the foregoing, including, without limitation, insurance proceeds, and all
supporting obligations and the security therefor or for any right to payment. All terms above have the meanings given to them in the California Uniform Commercial Code, as amended or supplemented from time to time, including revised Division 9 of
the Uniform Commercial Code-Secured Transactions. 
 Notwithstanding the foregoing, the Collateral shall not include
(i) any of the intellectual property, in any medium, of any kind or nature whatsoever, now or hereafter owned or acquired or received by Borrower, or in which Borrower now holds or hereafter acquires or receives any right or interest
(collectively, the “Intellectual Property”); provided, however, that the Collateral shall include all accounts and general intangibles that consist of rights to payment and proceeds from the sale, licensing or disposition of all or any
part, or rights in, the foregoing (the “Rights to Payment”); or (ii) any of the deposit accounts or cash therein listed on Attachment 1 attached hereto. 
 Notwithstanding the foregoing, if a judicial authority (including a U.S. Bankruptcy Court) holds that a security interest in the underlying Intellectual Property is necessary to have a security interest
in the Rights to Payment, then the Collateral shall automatically, and effective as of October 30, 2008, include the Intellectual Property to the extent and only to the extent necessary to permit perfection of Bank’s security interest in
the Rights to Payment, and further provided, however, that Bank’s enforcement rights with respect to any security interest in the Intellectual Property shall be absolutely limited to the Rights to Payment only, and Bank shall have no recourse
whatsoever with respect to the underlying Intellectual Property. 

 EXHIBIT D 
 BORROWING BASE CERTIFICATE 

 1      borrowing base certificate 

              Borrower | Active Network,
Inc.                     Commitment Amount | 
  

											
		  	 Accounts Receivable
	  				  			
	 1.
	  	Accounts Receivable Book Value as of date | 07/31/2010	  				  	$	 	  
		  		  				  	 	 	 
	 2.
	  	Additions (please explain on reverse)	  				  	$	 	  
		  		  				  	 	 	 
	 3.
	  	TOTAL ACCOUNTS RECEIVABLE	  				  	$	 	  
		  		  				  	 	 	 
				
		  	 Accounts Receivable Deductions (without duplication)
	  				  			
	 4.
	  	Amounts over 90 days	  	$	 	  	  			
		  		  	 	 	 	  			
	 5.
	  	Credit balances over 90 days	  	$	 	  	  			
		  		  	 	 	 	  			
	 6.
	  	Balance of 25% over 90 days	  	$	 	  	  			
		  		  	 	 	 	  			
	 7.
	  	Concentration limits	  	$	 	  	  			
		  		  	 	 	 	  			
	 8.
	  	Foreign Accounts	  	$	 	  	  			
		  		  	 	 	 	  			
	 9.
	  	 Government Accounts
 (except Assigned Government Contracts)
	  	$	 	  	  			
		  		  	 	 	 	  			
	 10.
	  	Contra Accounts	  	$	 	  	  			
		  		  	 	 	 	  			
	 11.
	  	Demo Accounts	  	$	 	  	  			
		  		  	 	 	 	  			
	 12.
	  	Intercompany/Employee Accounts	  	$	 	  	  			
		  		  	 	 	 	  			
	 13.
	  	Advance Billings	  	$	 	  	  			
		  		  	 	 	 	  			
	 14.
	  	Progress Billings	  	$	 	  	  			
		  		  	 	 	 	  			
	 15.
	  	Other (please explain below)	  	$	 	  	  			
		  		  	 	 	 	  			
	 16.
	  	 Total Accounts Receivable Deductions
	  				  	$	—  	  
		  		  				  	 	 	 
	 17.
	  	Eligible Accounts (#3 Minus #16)	  	$	 	  	  			
		  		  	 	 	 	  			
	 18.
	  	 Loan Value of Accounts Receivable (80 % of #17)
	  				  	$	 	  
		  		  				  	 	 	 
				
		  	 Balances
	  				  			
	 19.
	  	Maximum Loan Amount	  	$	—  	  	  			
		  		  	 	 	 	  			
	 20.
	  	 Total Funds Available (the lesser of #18 or #19)
	  				  	$	—  	  
		  		  				  	 	 	 
	 21.
	  	 Present balance outstanding on Line of Credit
	  				  	$	—  	  
		  		  				  	 	 	 
	 22.
	  	 Outstandings under Sublimits (Letters of Credit)
	  				  	$	—  	  
		  		  				  	 	 	 
	 23.
	  	 Reserve Position (#20 minus #21 and #22)
	  				  	$	—  	  
		  		  				  	 	 	 

 The undersigned represents and warrants that the foregoing is true, complete and correct, and that the
information reflected in this Borrowing Base Certificate complies with the representations and warranties set forth in the Loan & Security Agreement between the undersigned and Square 1 Bank. 

                    Comments

  
  

 

							
	 X
	  		  	bank	  	Square 1 Bank
	 authorized signature
	  		  	address	  	ATTN: Portfolio Analysis Dept.
		  		  		  	406 Blackwell St. Suite 240
	 name | Mike Skelly
	  		  		  	Durham, NC 27701
		  		  	web link	  	www.square1bank.com
		  		  	phone	  	919-314-3040
	 title | CFO
	  		  	fax	  	919-314-3090
		  		  	email	  	reportsed@square1bank.com

                    For Bank Use
Only 
  

									
	received by |	  	date |	  		  	reviewed by |	  	date |

  

			
	Square 1 Bank Confidential	 	New Borrower’s Kit v 1.1

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