On January 23, 2013, Silicon Valley Bank (SVB) and Wells Fargo Capital Finance, Inc. entered into a joinder agreement pursuant to the Second amended and restated credit agreement, dated as of November 2, 2012 among Oclaro, Inc. and Oclaro Technology Limited each lender party thereto and the agent, as administrative agent for the lenders. Pursuant to the joinder agreement, SVB agreed to become an additional lender under the credit agreement, and the lenders agreed to increase the revolving credit facility under the credit agreement from $50 million to $80 million. The obligations of the borrower under the credit agreement are guaranteed by the Oclaro, Inc. and all significant subsidiaries of the parent and the borrower, and are secured, pursuant to two security agreements by substantially all of the assets of the borrower and the guarantors, including a pledge of the capital stock holdings of the borrower and certain guarantors in their direct subsidiaries.

In connection with the joinder agreement, the company paid SVB a lender fee of $150,000. Also on January 23, 2013, Opnext, Inc., borrower, the lenders and the agent entered into amendment number one to the credit agreement and the associated security agreements, pursuant to which the parties agreed that the senior secured second lien notes due 2018 issued by Oclaro Luxembourg S.A. in the original principal amount of $25,000,000 shall be applied against the maximum dollar limit of senior unsecured convertible notes that Oclaro, Inc. may issue without the consent of agent, and the cash balances of Opnext, Inc., Pine Photonics Communications, Inc., and Opnext Subsystems Inc. would be subject to a required sweep to the agent's account upon the occurrence of certain triggering events.