SEC Contract Filing

Filing Date: 2015-11-04

Document Content:
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<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>d15336dex101.htm
<DESCRIPTION>EX-10.1
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<TITLE>EX-10.1</TITLE>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 10.1 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>SECOND AMENDED AND RESTATED LOAN AND SECURITY AGREEMENT </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>THIS SECOND AMENDED AND RESTATED LOAN AND SECURITY AGREEMENT</B> (as amended, restated, modified or otherwise supplemented from time to
time, this &#147;<B>Agreement</B>&#148;) dated as of October&nbsp;30, 2015 (the &#147;<B>Effective Date</B>&#148;) between <B>SILICON VALLEY BANK</B>, a California corporation with a loan production office located at 2400 Hanover Street, Palo Alto,
California 94304 (&#147;<B>Bank</B>&#148;), and <B>XACTLY CORPORATION</B>, a Delaware corporation (&#147;<B>Xactly</B>&#148;), and <B>CENTIVE, INC.</B>, a Delaware corporation (&#147;<B>Centive</B>&#148; and together with Xactly, individually and
collectively, jointly and severally, &#147;<B>Borrower</B>&#148;), each with offices located at 300 Park Avenue, Suite 1700, San Jose, California 95110, provides the terms on which Bank shall lend to Borrower and Borrower shall repay Bank. The
parties agree as follows:<B> </B></P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>RECITALS </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>A. </B>Bank and Borrower have entered into that certain Amended and Restated Loan and Security Agreement dated as of August&nbsp;20, 2012
(as amended, the &#147;<B>Prior Loan Agreement</B>&#148;).<B> </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>B.</B> Bank has extended credit to Borrower for the purposes
permitted in the Prior Loan Agreement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>C. </B>Bank and Borrower desire to amend and restate the Prior Loan Agreement in its entirety
in accordance with the terms hereof.<B> </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>1 <U>ACCOUNTING AND OTHER TERMS</U></B> </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Accounting terms not defined in this Agreement shall be construed following GAAP. Calculations and determinations must be made following GAAP.
Capitalized terms not otherwise defined in this Agreement shall have the meanings set forth in Section&nbsp;13. All other terms contained in this Agreement, unless otherwise indicated, shall have the meaning provided by the Code to the extent such
terms are defined therein. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>2 <U>LOAN AND TERMS OF PAYMENT</U></B> </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>2.1 Promise to Pay</B>. Borrower hereby unconditionally promises to pay Bank the outstanding principal amount of all Credit Extensions and
accrued and unpaid interest thereon as and when due in accordance with this Agreement.<B> </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>2.1.1 Revolving Advances.</B> </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) <U>Availability</U>. Subject to the terms and conditions of this Agreement, Borrower may request that Bank make advances to Borrower
(each, an &#147;<B>Advance</B>&#148;). So long as Borrower is in complete compliance with this Agreement, including without limitation, all financial covenants set forth herein, Bank shall make such Advances in an aggregate amount not exceeding the
Availability Amount. Amounts borrowed under the Revolving Line may be repaid, and prior to the Revolving Line Maturity Date, reborrowed, subject to the applicable terms and conditions precedent herein. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) <U>Termination; Repayment</U>. The Revolving Line terminates on the Revolving Line Maturity Date, when the principal amount of all
Advances, the unpaid interest thereon, and all other Obligations relating to the Revolving Line shall be immediately due and payable. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>2.1.2 Term Loan</B>.<B></B> </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) <U>Availability</U>. Subject to the terms and conditions of this Agreement, Bank shall make one (1)&nbsp;advance to Borrower (the
&#147;<B>Term Loan</B>&#148;) on or about the Effective Date in an amount equal to the Term Loan Amount. The Term Loan shall be used at the time of advance to pay off the SVB Mezzanine Loan. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) <U>Repayment</U>. Borrower shall repay the Term Loan in sixteen (16)&nbsp;consecutive equal quarterly installments of principal (the
&#147;<B>Term Loan Payment</B>&#148;). Beginning on December&nbsp;31, 2015, each Term Loan Payment shall be payable on the last day of each calendar quarter. Borrower&#146;s final Term Loan Payment, due on the Term Loan Maturity Date, shall include
all outstanding principal and accrued and unpaid interest under the Term Loan. Once repaid, the Term Loan may n