Document:

EXHIBIT 10.60

 

SECOND AMENDED AND RESTATED REVOLVING
PROMISSORY NOTE

 

	
  $15,000,000

  	
  McLean, Virginia

  
	
   

  	
  March 29, 2005

  

 

FOR
VALUE RECEIVED, MANUGISTICS GROUP, INC., a corporation organized under the laws
of the State of Delaware (the “Company”), and MANUGISTICS, INC., a corporation
organized under the laws of the State of Delaware (each a “Borrower” and
collectively, the “Borrowers”) jointly and severally promise to pay to the
order of SILICON VALLEY BANK, a California-chartered bank doing business in
Virginia as “Silicon Valley East” (“Bank”), at such place as the holder hereof
may designate, in lawful money of the United States of America, the aggregate
unpaid principal amount of all advances (“Advances”) made by Bank to any
Borrower in accordance with the terms and conditions of the Loan Agreement
among Borrowers and Bank dated January 14, 2003 (as amended from time to
time, the “Loan Agreement”), up to a maximum principal amount of Fifteen
Million Dollars ($15,000,000) (“Principal Sum”), or so much thereof as may be
advanced or readvanced and remains unpaid. 
Borrowers shall also pay interest on the aggregate unpaid principal
amount of such Advances, as follows:

 

Commencing as of the date hereof and continuing
until repayment in full of all sums due hereunder, the unpaid Principal Sum
shall bear interest at the variable rate of interest, per annum, equal to the
Prime Rate (as defined below) plus one half of one percent (.50%) per annum,
provided, however, if Borrowers have net income of $1.00 or more in any fiscal
quarter then the rate of interest applicable to this Note shall commencing as
of the first day of the following quarter be reduced to the Prime Rate.  The rate of interest charged under this Note
shall change immediately and contemporaneously with any change in the Prime
Rate.  All interest payable under the
terms of this Note shall be calculated on the basis of a 360-day year and the
actual number of days elapsed.  As used
herein, the “Prime Rate” shall mean Bank’s most recently announced “prime rate,”
even if it is not Bank’s lowest rate.

 

The unpaid Principal Sum, together with interest
thereon at the rate or rates provided above, shall be payable as follows:

 

(a)           Interest only on the unpaid principal amount
shall be due and payable monthly in arrears, commencing April 5, 2005, and
continuing on the fifth (5th) day of each calendar month thereafter to
maturity; and

 

(b)           Unless sooner paid, the unpaid Principal Sum,
together with interest accrued and unpaid thereon, shall be due and payable in
full on the Revolving Maturity Date.

 

The fact that the balance hereunder may be reduced
to zero from time to time pursuant to the Loan Agreement will not affect the
continuing validity of this Note or the Loan Agreement, and the balance may be
increased to the Principal Sum after any such reduction to zero.

 

Each Borrower hereby represents, agrees and
covenants that the Obligations evidenced hereby are deemed “Designated Senior
Indebtedness” for purposes of that certain Indenture between the Company and
State Street Bank and Trust Company dated October 20, 2000, as the same
may be amended, restated or otherwise modified from time to time.

 

This Note is the “Revolving Promissory Note”
described in the Loan Agreement, to which reference is hereby made for a more
complete statement of the terms and conditions under which the Advances and
Credit Extensions evidenced hereby are made. The indebtedness evidenced by this
Note amends and restates in its entirety that certain Amended and Restated
Revolving Promissory Note dated as of March     , 2004
(the “Prior Note”) in the maximum principal amount of Fifteen Million Dollars
($15,000,000) from the Borrower in favor of the Bank, as amended prior to the
date hereof.  It is expressly agreed that
the indebtedness evidenced by the Prior Note has not been extinguished or
discharged hereby.  The Borrower agrees
that the execution of and delivery of this Note is not intended to and shall
not cause or result in a novation with respect to the Prior Note.  This Note may be secured as

 

 

provided
in the Loan Agreement.  All capitalized
terms used herein and not otherwise defined shall have the meanings given to
such terms in the Loan Agreement.

 

Each Borrower irrevocably waives the right to direct
the application of any and all payments at any time hereafter received by Bank
from or on behalf of any Borrower and each Borrower irrevocably agrees that
Bank shall have the continuing exclusive right to apply any and all such
payments against the then due and owing obligations of either Borrower as Bank
may deem advisable.  In the absence of a
specific determination by Bank with respect thereto, all payments shall be
applied in the following order: (a) then due and payable fees and
expenses; (b) then due and payable interest payments and mandatory
prepayments; and (c) then due and payable principal payments and optional
prepayments.

 

Bank is hereby authorized by each Borrower to
endorse on Bank’s books and records each Advance made by Bank under this Note
and the amount of each payment or prepayment of principal of each such Advance
received by Bank; it being understood, however, that failure to make any such
endorsement (or any error in notation) shall not affect the joint and several
obligations of each Borrower with respect to Advances made hereunder, and
payments of principal by any Borrower shall be credited to Borrowers
notwithstanding the failure to make a notation (or any errors in notation)
thereof on such books and records.

 

The occurrence of any one or more of the following
events shall constitute an event of default (individually, an “Event of Default”
and collectively, the “Events of Default”) under the terms of this Note:

 

(a)           The failure of either Borrower to pay to Bank
within three (3) Business Days of when due any and all amounts payable by
either Borrower to Bank under the terms of this Note; or

 

(b)           The occurrence of an Event of Default (as
defined therein) under the terms and conditions of any of the other Loan
Documents.

 

Upon the occurrence of an Event of Default, at the
option of Bank, all amounts payable by either Borrower to Bank under the terms
of this Note shall immediately become due and payable by Borrowers to Bank
without notice to any Borrower or any other Person, and Bank shall have all of
the rights, powers, and remedies available under the terms of this Note, any of
the other Loan Documents and all applicable laws.  Each Borrower and all endorsers, guarantors,
and other parties who may now or in the future be primarily or secondarily
liable for the payment of the indebtedness evidenced by this Note hereby
severally waive presentment, protest and demand, notice of protest, notice of
demand and of dishonor and non-payment of this Note and expressly agree that
this Note or any payment hereunder may be extended from time to time without in
any way affecting the joint and several liability of Borrowers, guarantors and
endorsers.

 

Until such time as Bank is not committed to extend
further credit to the Borrowers and all Obligations of the Borrowers to Bank
have been indefeasibly paid in full in cash, and subject to and not in
limitation of the provisions set forth in the next following paragraph below,
no Borrower shall have any right of subrogation (whether contractual, arising
under the bankruptcy code or otherwise), reimbursement or contribution from any
Borrower or any guarantor, nor any right of recourse to its security for any of
the debts and obligations of any Borrower which are the subject of this
Note.  Except as otherwise expressly
permitted by the Loan Agreement, any and all present and future debts and
obligations of any Borrower to any other Borrower are hereby subordinated to
the full payment and performance of all present and future debts and
obligations to Bank under this Note and the Loan Agreement and the Loan
Documents, provided, however, notwithstanding anything set forth in this Note
to the contrary, prior to the occurrence of a payment default, the Borrowers
shall be permitted to make payments on account of any of such present and
future debts and obligations from time to time in accordance with the terms
thereof.

 

Each Borrower further agrees that, if any payment
made by any Borrower or any other person is applied to this Note and is at any
time annulled, set aside, rescinded, invalidated, declared to be fraudulent or
preferential or otherwise required to be refunded or repaid, or the proceeds of
any property hereafter securing this Note is required to be returned by Bank to
any Borrower, its estate, trustee, receiver or any other party, including,
without limitation,

 

 

such
Borrower, under any bankruptcy law, state or federal law, common law or
equitable cause, then, to the extent of such payment or repayment, such
Borrower’s liability hereunder (and any lien, security interest or other
collateral securing such liability) shall be and remain in full force and
effect, as fully as if such payment had never been made, or, if prior thereto
any such lien, security interest or other collateral hereafter securing such
Borrower’s liability hereunder shall have been released or terminated by virtue
of such cancellation or surrender, this Note (and such lien, security interest
or other collateral) shall be reinstated in full force and effect, and such
prior cancellation or surrender shall not diminish, release, discharge, impair
or otherwise affect the obligations of such Borrower in respect of the amount
of such payment (or any lien, security interest or other collateral securing
such obligation).

 

The JOINT AND SEVERAL obligations of each Borrower
under this Note shall be absolute, irrevocable and unconditional and shall
remain in full force and effect until the outstanding principal of and interest
on this Note and all other Obligations or amounts due hereunder and under the
Loan Agreement and the Loan Documents shall have been indefeasibly paid in full
in cash in accordance with the terms thereof and this Note shall have been
canceled.

 

The Borrowers each shall be jointly and severally
liable on the payment of the Obligations as and when due and payable in
accordance with the provisions of this Note, the Loan Agreement and the other
Loan Documents.  The term “Borrowers”
when used in this Note shall include all of the Borrowers, individually and
jointly, and Bank may (without notice to or consent of any or all of the
Borrowers and with or without consideration) release, compromise, settle with,
proceed against any or all of the Borrowers without affecting, impairing,
lessening or releasing the obligations of the other Borrower hereunder.

 

Each Borrower promises to pay all costs and expense
of collection of this Note and to pay all reasonable attorneys’ fees incurred
in such collection, whether or not there is a suit or action, or in any suit or
action to collect this Note or in any appeal thereof.  Each Borrower waives presentment, demand,
protest, notice of protest, notice of dishonor, notice of nonpayment, and any
and all other notices and demands in connection with the delivery, acceptance,
performance default or enforcement of this Note, as well as any applicable statutes
of limitations.  No delay by Bank in
exercising any power or right hereunder shall operate as a waiver of any power
or right.  Time is of the essence as to
all obligations hereunder.

 

This Note is issued pursuant to the Loan Agreement,
which shall govern the rights and obligations of Borrowers with respect to all
obligations hereunder.

 

Each Borrower acknowledges and agrees that this Note
shall be governed by the laws of the Commonwealth of Virginia, excluding
conflicts of laws principles, even though for the convenience and at the
request of Borrowers, this Note may be executed elsewhere.

 

EACH BORROWER ACCEPTS FOR ITSELF AND IN CONNECTION
WITH ITS PROPERTIES, UNCONDITIONALLY, THE NON-EXCLUSIVE JURISDICTION OF ANY
STATE OR FEDERAL COURT OF COMPETENT JURISDICTION IN THE COMMONWEALTH OF
VIRGINIA IN ANY ACTION, SUIT, OR PROCEEDING OF ANY KIND, AGAINST IT WHICH
ARISES OUT OF OR BY REASON OF THIS AGREEMENT; 
PROVIDED, HOWEVER, THAT IF FOR ANY REASON BANK CANNOT AVAIL ITSELF OF
THE COURTS OF VIRGINIA, EACH BORROWER ACCEPTS JURISDICTION OF THE COURTS AND
VENUE IN SANTA CLARA COUNTY, CALIFORNIA. 
BORROWERS AND BANK EACH HEREBY WAIVE THEIR RESPECTIVE RIGHTS TO A JURY
TRIAL OF ANY CLAIM OR CAUSE OF ACTION BASED UPON OR ARISING OUT OF ANY OF THE
LOAN DOCUMENTS OR ANY OF THE TRANSACTIONS CONTEMPLATED THEREIN, INCLUDING
CONTRACT CLAIMS, TORT CLAIMS, BREACH OF DUTY CLAIMS, AND ALL OTHER COMMON LAW
OR STATUTORY CLAIMS.  EACH PARTY
RECOGNIZES AND AGREES THAT THE FOREGOING WAIVER CONSTITUTES A MATERIAL
INDUCEMENT FOR IT TO ENTER INTO THIS AGREEMENT. 
EACH PARTY REPRESENTS AND WARRANTS THAT IT HAS REVIEWED THIS WAIVER WITH
ITS LEGAL COUNSEL AND THAT IT KNOWINGLY AND VOLUNTARILY WAIVES ITS JURY TRIAL
RIGHTS FOLLOWING CONSULTATION WITH LEGAL COUNSEL.

 

 

[SIGNATURES APPEAR ON THE FOLLOWING PAGE]

 

IN WITNESS WHEREOF, each Borrower has caused this
Note to be executed under seal by its duly authorized officers as of the date
first written above.

 

	
  WITNESS/ATTEST:

  	
  MANUGISTICS GROUP, INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
   

  	
  (SEAL)

  
	
   

  	
   

  	
  Name:

  
	
   

  	
   

  	
  Title:

  
	
   

  	
   

  
	
  WITNESS/ATTEST:

  	
  MANUGISTICS, INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
   

  	
  (SEAL)

  
	
   

  	
   

  	
  Name:

  
	
   

  	
   

  	
  Title:EXHIBIT 10.61

 

EQUIPMENT TERM NOTE

 

$5,000,000                                          Vienna, Virginia

April 8, 2005

 

FOR
VALUE RECEIVED, the undersigned, MANUGISTICS GROUP, INC., a corporation
organized under the laws of the State of Delaware (the “Company”), and
MANUGISTICS, INC., a corporation organized under the laws of the State of
Delaware (each a “Borrower” and collectively, the “Borrowers”) jointly and
severally promise to pay to the order of SILICON VALLEY BANK, a
California-chartered bank, doing business in Virginia as “Silicon Valley East, Inc.”
(“Bank”), at such place as the holder hereof may designate, in lawful money of
the United States of America, the aggregate unpaid principal amount of all
equipment advances (“Supplemental Equipment Advances”) made by Bank to any
Borrower in accordance with the terms and conditions of the Fifth Amendment to
Loan Agreement by and among Borrowers and Bank of even date herewith, which
amends that certain Loan Agreement dated January 14, 2003 by and among the
Borrowers and Bank (the Loan Agreement as amended from time to time the “Loan
Agreement”), up to a maximum principal amount of Five Million Dollars
($5,000,000) (“Principal Sum”), or so much thereof as may be advanced and
remains unpaid.  Borrowers may request
Supplemental Equipment Advances under this Note from and until Supplemental
Equipment Availability End Date.  The
unpaid Principal Sum, together with interest thereon at the rate or rates
provided in the Loan Agreement, shall be payable as set forth in the Loan
Agreement.

 

Each
Borrower hereby represents, agrees and covenants that the Obligations evidenced
hereby are deemed “Designated Senior Indebtedness” for purposes of that certain
Indenture between the Company and State Street Bank and Trust Company dated October 20,
2000, as the same may be amended, restated or otherwise modified from time to
time.

 

This
Note is the “Supplemental Equipment Term Note” described in the Loan Agreement,
to which reference is hereby made for a more complete statement of the terms
and conditions under which the loans and advances evidenced hereby are made.
This Note is secured as provided in the Loan Agreement.  All capitalized terms used herein and not
otherwise defined shall have the meanings given to such terms in the Loan
Agreement.

 

Each
Borrower irrevocably waives the right to direct the application of any and all
payments at any time hereafter received by Bank from or on behalf of any
Borrower and each Borrower irrevocably agrees that Bank shall have the
continuing exclusive right to apply any and all such payments against the then
due and owing obligations of Borrowers as Bank may deem advisable.  In the absence of a specific determination by
Bank with respect thereto, all payments shall be applied in the following order:
(a) then due and payable fees and expenses; (b) then due and payable
interest payments and mandatory prepayments; and (c) then due and payable
principal payments and optional prepayments.

 

Bank
is hereby authorized by Borrowers to endorse on Bank’s books and records each
Supplemental Equipment Advance made by Bank under this Note and the amount of
each payment or prepayment of principal of each such Supplemental Equipment
Advance received by Bank; it being understood, however, that failure to make
any such endorsement (or any error in notation) shall not affect the joint and
several obligations of Borrowers with respect to Supplemental Equipment
Advances made hereunder, and payments of principal by Borrowers shall be
credited to Borrowers notwithstanding the failure to make a notation (or any
errors in notation) thereof on such books and records.

 

The
occurrence of any one or more of the following events shall constitute an event
of default (individually, an “Event of Default” and collectively, the “Events
of Default”) under the terms of this Note:

 

(a)                                  The failure of Borrowers to pay to Bank when
due any and all amounts payable by Borrowers to Bank under the terms of this
Note and such failure shall continue for three (3) Business Days; or

 

 

(b)                                 The occurrence of an Event of Default (as defined
therein) under the terms and conditions of any of the other Loan Documents.

 

Upon
the occurrence of an Event of Default, at the option of Bank, all amounts
payable by Borrowers to Bank under the terms of this Note shall immediately
become due and payable by Borrowers to Bank without notice to Borrowers or any
other person, and Bank shall have all of the rights, powers, and remedies
available under the terms of this Note, any of the other Loan Documents and all
applicable laws.  Borrowers and all
endorsers, guarantors, and other Persons who may now or in the future be
primarily or secondarily liable for the payment of the indebtedness evidenced
by this Note hereby severally waive presentment, protest and demand, notice of
protest, notice of demand and of dishonor and non-payment of this Note and
expressly agree that this Note or any payment hereunder may be extended from
time to time without in any way affecting the joint and several liability of
Borrowers, guarantors and endorsers.

 

Until
such time as Bank is not committed to extend further credit to the Borrowers
and all Obligations of the Borrowers to Bank have been indefeasibly paid in
full in cash, and subject to and not in limitation of the provisions set forth
in the next following paragraph below, no Borrower shall have any right of
subrogation (whether contractual, arising under the bankruptcy code or
otherwise), reimbursement or contribution from any Borrower or any guarantor,
nor any right of recourse to its security for any of the debts and obligations
of any Borrower which are the subject of this Note.  Except as otherwise expressly permitted by
the Loan Agreement, any and all present and future debts and obligations of any
Borrower to any other Borrower are hereby subordinated to the full payment and
performance of all present and future debts and obligations to Bank under this
Note and the Loan Agreement and the Loan Documents, provided, however,
notwithstanding anything set forth in this Note to the contrary, prior to the
occurrence of a payment default, the Borrowers shall be permitted to make
payments on account of any of such present and future debts and obligations
from time to time in accordance with the terms thereof.

 

Each
Borrower further agrees that, if any payment made by any Borrower or any other
person is applied to this Note and is at any time annulled, set aside,
rescinded, invalidated, declared to be fraudulent or preferential or otherwise
required to be refunded or repaid, or the proceeds of any property hereafter
securing this Note is required to be returned by Bank to any Borrower, its
estate, trustee, receiver or any other party, including, without limitation,
such Borrower, under any bankruptcy law, state or federal law, common law or
equitable cause, then, to the extent of such payment or repayment, such
Borrower’s liability hereunder (and any lien, security interest or other
collateral securing such liability) shall be and remain in full force and
effect, as fully as if such payment had never been made, or, if prior thereto any
such lien, security interest or other collateral hereafter securing such
Borrower’s liability hereunder shall have been released or terminated by virtue
of such cancellation or surrender, this Note (and such lien, security interest
or other collateral) shall be reinstated in full force and effect, and such
prior cancellation or surrender shall not diminish, release, discharge, impair
or otherwise affect the obligations of such Borrower in respect of the amount
of such payment (or any lien, security interest or other collateral securing
such obligation).

 

The
JOINT AND SEVERAL obligations of each Borrower under this Note shall be
absolute, irrevocable and unconditional and shall remain in full force and
effect until the outstanding principal of and interest on this Note and all
other Obligations or amounts due hereunder and under the Loan Agreement and the
Loan Documents shall have been indefeasibly paid in full in cash in accordance
with the terms thereof and this Note shall have been canceled.

 

The
Borrowers each shall be jointly and severally liable on the payment of the
Obligations as and when due and payable in accordance with the provisions of
this Note, the Loan Agreement and the other Loan Documents.  The term “Borrowers” when used in this Note
shall include all of the Borrowers, individually and jointly, and Bank may
(without notice to or consent of any or all of the Borrowers and with or
without consideration) release, compromise, settle with, proceed against any or
all of the Borrowers without affecting, impairing, lessening or releasing the
obligations of the other Borrower hereunder.

 

 

Each
Borrower promises to pay all costs and expense of collection of this Note and
to pay all reasonable attorneys’ fees incurred in such collection, whether or not
there is a suit or action, or in any suit or action to collect this Note or in
any appeal thereof. No delay by Bank in exercising  any power or right hereunder shall operate as
a waiver of any power or right.  Time is
of the essence as to all obligations hereunder.

 

This
Note is issued pursuant to the Loan Agreement, which shall govern the rights
and obligations of Borrowers with respect to all obligations hereunder.

 

Each
Borrower acknowledges and agrees that this Note shall be governed by the laws
of the Commonwealth of Virginia, excluding conflicts of laws principles, even
though for the convenience and at the request of Borrowers, this Note may be
executed elsewhere.

 

EACH
BORROWER ACCEPTS FOR ITSELF AND IN CONNECTION WITH ITS PROPERTIES, UNCONDITIONALLY,
THE NON-EXCLUSIVE JURISDICTION OF ANY STATE OR FEDERAL COURT OF COMPETENT
JURISDICTION IN THE COMMONWEALTH OF VIRGINIA IN ANY ACTION, SUIT, OR PROCEEDING
OF ANY KIND, AGAINST IT WHICH ARISES OUT OF OR BY REASON OF THIS AGREEMENT;  PROVIDED, HOWEVER, THAT IF FOR ANY REASON
BANK CANNOT AVAIL ITSELF OF THE COURTS OF VIRGINIA, EACH BORROWER ACCEPTS
JURISDICTION OF THE COURTS AND VENUE IN SANTA CLARA COUNTY, CALIFORNIA.  BORROWERS AND BANK EACH HEREBY WAIVE THEIR
RESPECTIVE RIGHTS TO A JURY TRIAL OF ANY CLAIM OR CAUSE OF ACTION BASED UPON OR
ARISING OUT OF ANY OF THE LOAN DOCUMENTS OR ANY OF THE TRANSACTIONS
CONTEMPLATED THEREIN, INCLUDING CONTRACT CLAIMS, TORT CLAIMS, BREACH OF DUTY
CLAIMS, AND ALL OTHER COMMON LAW OR STATUTORY CLAIMS.  EACH PARTY RECOGNIZES AND AGREES THAT THE
FOREGOING WAIVER CONSTITUTES A MATERIAL INDUCEMENT FOR IT TO ENTER INTO THIS
AGREEMENT.  EACH PARTY REPRESENTS AND
WARRANTS THAT IT HAS REVIEWED THIS WAIVER WITH ITS LEGAL COUNSEL AND THAT IT KNOWINGLY
AND VOLUNTARILY WAIVES ITS JURY TRIAL RIGHTS FOLLOWING CONSULTATION WITH LEGAL
COUNSEL.

 

 

IN
WITNESS WHEREOF, Borrowers have caused this Note to be executed under seal by
their duly authorized officers as of the date first written above.

 

	
  WITNESS/ATTEST:

  	
   

  	
  MANUGISTICS GROUP, INC.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  By:

  	
   

  	
  (SEAL)

  
	
   

  	
  Name:

  	
   

  
	
   

  	
  Title:

  	
   

  
	
   

  	
   

  	
   

  
	
  WITNESS/ATTEST:

  	
   

  	
  MANUGISTICS, INC.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  By:

  	
   

  	
  (SEAL)

  
	
   

  	
  Name:

  	
   

  
	
   

  	
  Title:

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