LOAN AND SECURITY AGREEMENT
THIS LOAN AND SECURITY AGREEMENT (this “ Agreement ”) dated as of the Effective Date
between SILICON VALLEY BANK , a California corporation, with its principal place of business at 3003
Tasman Drive, Santa Clara, California 95054 and with a loan production office located at One Newton
Executive Park, Suite 200, 2221 Washington Street, Newton, Massachusetts 02462 (“ Bank ”), and
AXCELIS TECHNOLOGIES, INC. and AXCELIS TECHNOLOGIES CCS CORPORATION , each a
Delaware corporation with offices located at 108 Cherry Hill Drive, Beverly, Massachusetts 01915 (individually
and collectively, jointly and severally “ Borrower ”), provides the terms on which Bank shall lend to Borrower
and Borrower shall repay Bank. The parties agree as follows:
1 ACCOUNTING AND OTHER TERMS
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 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.
2 LOAN AND TERMS OF PAYMENT
2.1 Promise to Pay . 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.
2.1.1 Revolving Advances .
(a) Availability . Subject to the terms and conditions of this Agreement and to deduction of
Reserves, Bank shall make Advances not exceeding the Availability Amount. Amounts borrowed hereunder may
be repaid and, prior to the Revolving Line Maturity Date, reborrowed, subject to the