EXHIBIT 10.29.1
DISBURSEMENT REQUEST AND AUTHORIZATION
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Principal Loan Date Maturity Loan No Call / Coll Account Officer Initials
$40,000,000.00 07-02-2004 09-02-2004 301099227 188
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References in the shaded area are for Lender's use only and do not limit the
applicability of this document to any particular loan or item. Any item above
containing "***" has been omitted due to text length limitations.
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BORROWER: Mission West Properties, Inc., A Maryland corporation LENDER: Cupertino National Bank - part of Greater Bay Bank NA
10050 Bandley Drive Main Office
Cupertino, CA 95014-2244 20230 Stevens Creek Blvd.
Cupertino, CA 95014-2244
LOAN TYPE. This is a Variable Rate Nondisclosable Revolving Line of Credit Loan
to a Corporation for $40,000,000.00 due on September 2, 2004. The reference rate
(Three Month Libor Rate, as published on the first business day of each month,
currently 1.610%) is added to the margin of 2.000%, resulting in an initial rate
of 3.610. This is an unsecured renewal loan.
PRIMARY PURPOSE OF LOAN. The primary purpose of this loan is for (please
initial):
_________________Personal, Family, or Household Purposes or Personal Investment.
[X][CEB][RM]_ Business (Including Real Estate Investment).
SPECIFIC PURPOSE. The specific purpose of this loan is: Extend maturity date of
revolving line of credit.
DISBURSEMENT INSTRUCTIONS. Borrower understands that no loan proceeds will be
disbursed until all of Lender's conditions for making the loan have been
satisfied. Please disburse the loan proceeds of $40,000,000.00 as follows:
UNDISBURSED FUNDS: $17,167,580.35
AMOUNT PAID ON BORROWER'S ACCOUNT: $22,832,419.65
$22,832,419.65 Payment on Loan # 301099227 (Disbursed) _______________
NOTE PRINCIPAL: $40,000,000.00
CHARGES PAID IN CASH. Borrower has paid or will pay in cash as agreed the
following charges:
PREPAID FINANCE CHARGES PAID IN CASH: $1,000.00
$1,000.00 Loan Fee
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TOTAL CHARGES PAID IN CASH: $1,000.00
FINANCIAL CONDITION. BY SIGNING THIS AUTHORIZATION, BORROWER REPRESENTS AND
WARRANTS TO LENDER THAT THE INFORMATION PROVIDED ABOVE IS TRUE AND CORRECT AND
THAT THERE HAS BEEN NO MATERIAL ADVERSE CHANGE IN BORROWER'S FINANCIAL CONDITION
AS DISCLOSED IN BORROWER'S MOST RECENT FINANCIAL STATEMENT TO LENDER. THIS
AUTHORIZATION IS DATED JULY 2, 2004.
BORROWER:
MISSION WEST PROPERTIES, INC., A MARYLAND CORPORATION
By: /s/ Carl E. Berg By: /s/ Raymond V. Marino
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Carl E. Berg, Chairman & CEO of Raymond V. Marino, President &
Mission West Properties, Inc., COO of Mission West Properties,
A Maryland corporation Inc., A Maryland corporation