Exhibit 4.9
FORM OF PROMISSORY NOTE
[Growth Capital Loans]
[Note No. X-XXX]
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__________________, 200___
San Jose, California |
Each of the undersigned (Borrowers) jointly and severally promises to pay to the order of
VENTURE LENDING & LEASING IV, INC., a Maryland corporation (Lender), at its office at 2010 North
First Street, Suite 310, San Jose, California 95131, or at such other place as Lender may designate
in writing, in lawful money of the United States of America, the principal sum of
___Dollars ($___), with Basic Interest thereon (except as otherwise
provided herein) from the date hereof until maturity, whether scheduled or accelerated, at a fixed
rate per annum equal to [the Prime Rate on the Business Day Lender prepares the Note plus 0.50%,
but in no event less than 8.00%; (the Designated Rate), and a Final Payment in the sum of
[6.059% of face amount] Dollars ($___) payable on the Maturity Date.]
This Note is one of the Notes referred to in, and is entitled to all the benefits of, a Loan
and Security Agreement dated as of June 14, 2006, between Borrowers and Lender (the Loan
Agreement). Each capitalized term not otherwise defined herein shall have the meaning set forth
in the Loan Agreement. The Loan Agreement contains provisions for the acceleration of the maturity
of this Note upon the happening of certain stated events.
Principal of and interest on this Note shall be payable as follows:
On the Borrowing Date, Borrowers shall pay interest only at the rate of 1.00% per month on the
outstanding principal balance of this Note for the period from the Borrowing Date through June 30,
2006, in the amount of $___.
Commencing on July 1, 2006, and continuing on August 1, 2006, Borrowers shall make payments in
advance of interest only at the rate of 1.00% per month on the principal balance outstanding
hereunder, in the amount of $___each.
Commencing on September 1,2006, and continuing on the first day of each consecutive month
thereafter, principal and interest at the Designated Rate shall be payable, in advance, in
twenty-nine (29) equal consecutive installments of ___Dollars ($___)
each, with a thirtieth (30th) installment on ___, 200___,equal to the entire
unpaid principal balance and accrued interest at the Designated Rate and any unpaid expenses and
fees. The Final Payment in the amount of $___shall be due and payable on
[one month later] , 200_.]
This Note may be voluntarily prepaid only as permitted under Section 2 of Part 2 of the
Supplement to the Loan Agreement.
Any unpaid payments of principal or interest on this Note shall bear interest from their
respective maturities, whether scheduled or accelerated, at a rate per annum equal to the Default
Rate. Borrowers shall pay such interest on demand.
Interest, charges and fees shall be calculated for actual days elapsed on the basis of a
360-day year, which results in higher interest, charge or fee payments than if a 365-day year were
used. In no event shall Borrowers be obligated to pay interest, charges or fees at a rate in
excess of the highest rate permitted by applicable law from time to time in effect.