Document:

8/15/02 AMENDMENT TO LOAN DOCUMENTS

 Exhibit 10.43 
  
 Silicon Valley Bank 
  
 Amendment to Loan Documents 

 
 Borrower:    APPLIED IMAGING CORP. 
 Address:       2380 Walsh Avenue 
 Santa Clara, CA 95051 
  
 Dated as of August 15, 2002 
  
 THIS AMENDMENT TO LOAN DOCUMENTS is entered into between Silicon Valley Bank (“Silicon”) and the borrower named above (“Borrower”). 
  
 Silicon and Borrower hereby agree to amend the Loan and Security Agreement between them, dated September 28, 2001 (as amended, restated, supplemented, or otherwise modified
from time to time, the “Loan Agreement”), as follows, 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.) 
  

	1.    Modification of Credit Limit. The portion of Section 1 of the Schedule to Loan Agreement that currently reads
 as follows:
	 
	
 

  

	 	1.
	 
	CREDIT LIMIT 
 

 (Section 1.1):

 An amount not to exceed the lesser of a total of $2,000,000 at any one time outstanding (the “Maximum Credit Limit”), or the sum of (a)
and (b) below (the “Borrowing Base”): 
  

	 	(a)
	 
	up to 80% of the amount of Borrower’s Eligible Receivables (as defined in Section 8 above), plus 
 

  

	 	(b)
	 
	an amount not to exceed, as of any date of determination, the lowest of: 
 

  

	 	(1)
	 
	up to 20% of the value of Borrower’s Eligible Inventory (as defined in Section 8 above), calculated at the lower of cost or market value and
determined on a first-in, first-out basis; or 
 

  

	 	(2)
	 
	$500,000; or 
 

  

	 	(3)
	 
	40% of the aggregate amount of Borrower’s Eligible Receivables; 
 

  
 provided, however, that the amount of credit availability under the foregoing clause (b) shall be deemed to equal zero ($-0-) unless and until (y) Borrower irrevocably
notifies Silicon in writing that Borrower desires credit availability under such clause (b), and (z) Silicon conducts an updated 

 
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 audit and FLV appraisal of Borrower’s Inventory and the results thereof shall be satisfactory to Silicon in its
discretion; provided further that, as of any date of determination, all Loans based on the credit availability under the foregoing clause (b) need to be supported by a net orderly liquidation value of such Inventory based on an appraisal
satisfactory to Silicon. 
  
 , hereby is amended and restated in its entirety to read as follows: 

 

	 	1.
	 
	CREDIT LIMIT 
 

 (Section 1.1):

 An amount not to exceed the lesser of a total of $3,500,000 at any one time outstanding (the “Maximum Credit Limit”), or the sum of (a)
and (b) below (the “Borrowing Base”): 
  

	 	(a)
	 
	up to 80% of the amount of Borrower’s Eligible Receivables (as defined in Section 8 above), plus 
 

  

	 	(b)
	 
	[intentionally omitted] 
 

  

	2.
	 
	Extension of Maturity Date. Section 4 of the Schedule to Loan Agreement hereby is amended and restated in its entirety to read as follows: 

  

	 	4.
	 
	MATURITY DATE 
 

 (Section 6.1):

 September 27, 2003. 
  

	3.
	 
	Modification of TNW Base Amount. The portion of Section 5 of the Schedule to Loan Agreement that currently reads as follows: 

  
 The term “TNW Base Amount” means, as of any date of determination, the amount set forth below
corresponding to the time period set forth below: 
  

	 	(A)
	 
	during the period commencing on the date of this Agreement and ending on September 30, 2001, $3,000,000; 
 

  

	 	(B)
	 
	during the period commencing on October 1, 2001 and ending on October 31, 2001, $2,300,000; 
 

  

	 	(C)
	 
	during the period commencing on November 1, 2001 and ending on November 30, 2001, $1,800,000; 
 

 
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	 	(D)
	 
	during the period commencing on December 1, 2001 and ending on December 31, 2001, $2,700,000; 
 

  

	 	(E)
	 
	during the period commencing on January 1, 2002 and ending on January 31, 2002, $2,000,000; and 
 

  

	 	(D)
	 
	from and after February 1, 2002, $1,500,000. 
 

  
 , hereby is amended and restated in its entirety to read as follows: 
  
 The term “TNW Base Amount” means, as of any date of determination, the amount set forth below corresponding to the time period set forth below: 
  

	 	(A)
	 
	during the period commencing on July 1, 2002 and ending on August 31, 2002, $3,300,000; 
 

  

	 	(B)
	 
	during the period commencing on September 1, 2002 and ending on November 30, 2002, $4,000,000; 
 

  

	 	(C)
	 
	during the period commencing on December 1, 2002 and ending on December 31, 2002, $5,000,000; 
 

  

	 	(D)
	 
	during the period commencing on January 1, 2003 and ending on February 28, 2003, $4,500,000; 
 

  

	 	(E)
	 
	during the period commencing on March 1, 2003 and ending on March 31, 2003, $5,300,000; 
 

  

	 	(F)
	 
	during the period commencing on April 1, 2003 and ending on May 31, 2003, $5,000,000; and 
 

  

	 	(G)
	 
	from and after June 1, 2003, $5,500,000. 
 

  

	4.
	 
	Deletion of Definition of “Eligible Inventory”. The definition of “Eligible Inventory” set forth in Section 8 of the Loan Agreement
hereby is amended and restated in its entirety to read as follows: “[Definition of “Eligible Inventory”—Intentionally Omitted]”. 
 

 
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	5.
	 
	Deletion of Monthly Inventory Reporting Requirement. Section 6(4) of the Schedule to Loan Agreement hereby is amended and restated in its entirety to
read as follows: “[Intentionally Omitted]”. 
 

  

	6.
	 
	Fee. In consideration for Silicon entering into this Amendment, Borrower shall pay Silicon a fee of $35,000 concurrently with the execution and delivery
of this Amendment, which fee shall be non-refundable and in addition to all interest and other fees payable to Silicon under the Loan Documents. Silicon is authorized to charge said fee to Borrower’s loan account. 

  

	7.
	 
	Delaware Good Standing. Borrower shall deliver to Silicon, on or before August 31, 2002, a good standing certificate issued by the Delaware Secretary of
State reflecting that Borrower is in good standing in the State of Delaware and that the franchise taxes of Borrower owing to the State of Delaware have been paid to date, in each case, as of a date on or after August 1, 2002. 

  

	8.
	 
	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]

 
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	9.
	 
	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:
 APPLIED IMAGING CORP.
 	 	  	 	 Silicon:
 SILICON VALLEY BANK
 
	 
	 By:
 	 	 /S/    CARL
HULL        
 
	 	  	 	 By:
 	 	 /S/    CHITRA SURIYANARAYANAN
 

	  	 	 President or Vice President
 	 	  	 	 Title
 	 	 Acct. Mgr.
 
	 
	 By:
 	 	 /S/    BARRY
HOTCHKIES        
 
	 	  	 	  	 	  
	  	 	 Secretary or Ass’t Secretary
 	 	  	 	  	 	  

 
  

 
 -5-10/04/02 AMENDMENT TO LOAN DOCUMENTS

  
 EXHIBIT 10.44 
  
 Silicon Valley Bank 
  
 Amendment to Loan
Documents 
  
 Borrower: APPLIED IMAGING CORP. 
 Address:    2380 Walsh Avenue 
                    Santa Clara, CA 95051 
  
 Dated as of October 4, 2002 
  
 THIS AMENDMENT TO LOAN DOCUMENTS is entered
into between Silicon Valley Bank (“Silicon”) and the borrower named above (“Borrower”). 
  
 Silicon and Borrower hereby agree to amend the Loan and Security Agreement between them, dated September 28, 2001 (as amended, restated, supplemented, or otherwise modified from time to time, the “Loan Agreement”), as
follows, 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.) 
  

	1.
	 
	Modification of TNW Base Amount. The portion of Section 5 of the Schedule to Loan Agreement that currently reads as follows: 

  
 The term “TNW Base Amount” means, as of any date of determination, the amount set forth below
corresponding to the time period set forth below: 
  
 (A) during the period commencing on July 1, 2002 and ending on
August 31, 2002, $3,300,000; 
  
 (B) during the period commencing on September 1, 2002 and ending on November 30,
2002, $4,000,000; 
  
 (C) during the period commencing on December 1, 2002 and ending on December 31, 2002,
$5,000,000; 
  
 (D) during the period commencing on January 1, 2003 and ending on February 28, 2003,
$4,500,000; 
  
 (E) during the period commencing on March 1, 2003 and ending on March 31, 2003, $5,300,000;

  

 
 1 

  
 (f) during the period commencing on April 1, 2003 and ending on May 31, 2003,
$5,000,000; and 
  
 (G) from and after June 1, 2003, $5,500,000. 
  
 , hereby is amended and restated in its entirety to read as follows: 
  
 The term “TNW Base Amount” means, as of any date of determination, the amount set forth below corresponding to the time period set forth below: 

 
 (A) during the period commencing on October 1, 2002 and ending on October 31, 2002, $3,500,000; 
  
 (B) during the period commencing on November 1, 2002 and ending on November 30, 2002, $3,200,000; 
  
 (C) during the period commencing on December 1, 2002 and ending on December 31, 2002, $4,800,000; 
  
 (D) during the period commencing on January 1, 2003 and ending on January 31, 2003, $4,000,000; 
  
 (E) during the period commencing on February 1, 2003 and ending on February 28, 2003, $3,600,000; 
  
 (F) during the period commencing on March 1, 2003 and ending on March 31, 2003, $5,000,000; 
  
 (G) during the period commencing on April 1, 2003 and ending on April 30, 2003, $4,300,000; 
  
 (H) during the period commencing on May 1, 2003 and ending on May 31, 2003, $4,000,000; 
  

 
 2 

  
 
	 Silicon Valley Bank
 
	  	 Amendment to Loan Agreement
 

	  	  	 (I) during the period commencing on June 1, 2003 and ending on June 30, 2003, $5,500,000;
  
 (J) during the period commencing on July 1, 2003 and ending on July 31, 2003, $5,000,000;
  
 (K) during the period commencing on August 1, 2003 and ending on August 31, 2003, $4,500,000;
  
 (L) from and after
September 1, 2003, $5,500,000.
 

 
  

	2.
	 
	Fee. In consideration for Silicon entering into this Amendment, Borrower shall pay Silicon a fee of $2,500 concurrently with the execution and delivery
of this Amendment, which fee shall be non-refundable and in addition to all interest and other fees payable to Silicon under the Loan Documents. Silicon is authorized to charge said fee to Borrower’s loan account. 

  

	3.
	 
	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]

  

 
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	4.
	 
	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:
 APPLIED IMAGING CORP.
 	 	  	 	 Silicon:
 SILICON VALLEY BANK
 
	 
	 By:
 	 	 /S/    BARRY
HOTCHKIES        
 
	 	  	 	 By:
 	 	 /S/    CHITRA
SURIYANARAYANAN        
 

	  	 	 President or Vice President
 	 	  	 	 Title
 	 	 Acct. Mgr.
 
	 
	 By:
 	 	 /S/    BARRY
HOTCHKIES        
 
	 	  	 	  	 	  
	  	 	 Secretary or Ass’t Secretary
 	 	  	 	  	 	  

 

 
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