EXHIBIT 10.3
Silicon Valley Bank
THIS LOAN AND SECURITY AGREEMENT is entered into on the above date between SILICON
VALLEY BANK, COMMERCIAL FINANCE DIVISION ("Silicon"), whose address is 3003 Tasman Drive,
Santa Clara, California 95054 and the borrowers named above on a joint and several basis (together, the
"Borrower"), whose chief executive office is located at the above address ("Borrower's Address"). The Schedule
to this Agreement (the "Schedule") shall for all purposes be deemed to be a part of this Agreement, and the same
is an integral part of this Agreement. (Definitions of certain terms used in this Agreement are set forth in Section 8
below.)
1.1 Loans. Silicon will make loans to Borrower (the "Loans"), subject to the terms and conditions of this
Agreement, up to the amounts (the "Credit Limit") shown on the Schedule, provided no Default or Event of
Default has occurred and is continuing, and subject to deduction of any Reserves for accrued interest and such
other Reserves as Silicon, in the exercise of its commercially reasonable judgment, deems proper from time to
time.
1.2 Interest. All Loans and all other monetary Obligations shall bear interest at the rate shown on the Schedule,
except where expressly set forth to the contrary in this Agreement. Interest shall be payable monthly, on the last
day of the month. Interest may, in Silicon's discretion, be charged to Borrower's loan account, and the same shall
thereafter bear interest at the same rate as the other Loans. Silicon may, in its discretion, charge interest to
Borrower's Deposit Accounts maintained with Silicon.
1.3 Overadvances. If at any time or for any reason the total of all outstanding Loans and all other Obligations
exceeds the Credit Limit (an "Overadvance"), Borrower shall immediately pay the amount of the excess to
Silicon, without notice or demand. Without limiting Borrower's obligation to repay to Silicon on demand the
amount of any Overadvance, Borrower agrees to pay Silicon interest on the outstanding