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Delaware
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000-22671
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77-0188504
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(State or other jurisdiction
of incorporation)
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(Commission
File Number)
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(IRS Employer
Identification No.)
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1277 Orleans Drive, Sunnyvale, CA
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94089-1138
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(Address of principal executive offices)
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(Zip Code)
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¨
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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¨
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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¨
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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¨
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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10.40
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Third Amendment to Third Amended and Restated Loan and Security Agreement.
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Date: February 10, 2016
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QuickLogic Corporation
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/s/ Suping (Sue) Cheung
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Suping (Sue) Cheung
Principal Accounting Officer and Corporate Controller
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Exhibit
No.
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Description
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10.40
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Third Amendment to Third Amended and Restated Loan and Security Agreement.
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Test Date
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Tangible Net Worth
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February 29, 2016
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The amount equal to the sum of:
(i) $12,000,000
plus
(ii) 50% of the amount of all proceeds from any equity issuance of Borrower,
plus
(iii) 50% of the amount of all proceeds from any investment of Borrower
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March 31, 2016
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The amount equal to the sum of:
(i) $12,000,000
plus
(ii) 50% of the amount of all proceeds from any equity issuance of Borrower,
plus
(iii) 50% of the amount of all proceeds from any investment of Borrower
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April 30, 2016 through
June 30, 2016 |
The amount equal to the sum of:
(i) $10,000,000
plus
(ii) 50% of the amount of all proceeds from any equity issuance of Borrower,
plus
(iii) 50% of the amount of all proceeds from any investment of Borrower
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July 31, 2016 through
September 30, 2016 |
The amount equal to the sum of:
(i) $8,000,000
plus
(ii) 50% of the amount of all proceeds from any equity issuance of Borrower,
plus
(iii) 50% of the amount of all proceeds from any investment of Borrower
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October 31, 2016 through
December 31, 2016 |
The amount equal to the sum of:
(i) $6,000,000
plus
(ii) 50% of the amount of all proceeds from any equity issuance of Borrower,
plus
(iii) 50% of the amount of all proceeds from any investment of Borrower
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January 31, 2017 through
March 31, 2017 |
The amount equal to the sum of:
(i) $4,000,000
plus
(ii) 50% of the amount of all proceeds from any equity issuance of Borrower,
plus
(iii) 50% of the amount of all proceeds from any investment of Borrower
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April 30, 2017 through
June 30, 2017 |
The amount equal to the sum of:
(i) $8,000,000
plus
(ii) 50% of the amount of all proceeds from any equity issuance of Borrower,
plus
(iii) 50% of the amount of all proceeds from any investment of Borrower
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Test Date
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Quick Ratio (Adjusted)
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2.00 to 1.00
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April 30, 2016 through
June 30, 2016 |
2.00 to 1.00
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July 31, 2016 through
September 30, 2016 |
1.50 to 1.00
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October 31, 2016 through
December 31, 2016 |
1.50 to 1.00
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January 31, 2017 through
March 31, 2017 |
1.25 to 1.00
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April 30, 2017 through
June 30, 2017 |
1.25 to 1.00
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BANK
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BORROWER
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SILICON VALLEY BANK
//sd//: Wendy Wong_______________________
Name: Wendy Wong_____________________
Title: Vice President_____________________
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QUICKLOGIC CORPORATION
//sd//: Suping (Sue) Cheung
Name: _Suping (Sue) Cheung
Title: Principal Accounting Officer and Corporate Controller
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TO:
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SILICON VALLEY BANK
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FROM:
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QUICKLOGIC CORPORATION
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QUICKLOGIC CORPORATION
By:
Name:
Title:
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BANK USE ONLY
Received by:
AUTHORIZED SIGNER
Date:
Verified:
AUTHORIZED SIGNER
Date:
Compliance Status: Yes No
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A.
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Applicable Amount from Section 6.8(a)
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$[__,000,000]
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B.
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50% of proceeds from any equity issuance of Borrower
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$__________
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C.
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50% of proceeds from any investments of Borrower
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$__________
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D.
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Required Amount (line A + line B + line C)
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$__________
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E.
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Borrower’s actual Tangible Net Worth
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$__________
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A.
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Aggregate value of the unrestricted cash and cash equivalents of
Borrower and its Subsidiaries held at Bank |
$__________
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B.
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Aggregate value of the net billed accounts receivable of Borrower
and its Subsidiaries |
$__________
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C.
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Aggregate value of the Investments with maturities of fewer than 12 months of Borrower and its Subsidiaries held at Bank or its affiliates
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$__________
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D.
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Quick Assets (the sum of lines A through C)
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$__________
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E.
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Current Liabilities
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$__________
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F.
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the current portion of Deferred Revenue
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$__________
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G.
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the long-term portion of the aggregate value of Obligations to Bank
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$__________
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H.
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line E
minus
line F
plus
line G minus
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$__________
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J.
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Quick Ratio (line D divided by line H)
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$__________
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A.
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Value of Line III. (Cash)
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$__________
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BORROWER:
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QUICKLOGIC CORPORATION
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