DEKANIA CORP.
Exhibit 10.1
0000 Xxxx Xxxxxx
Xxxxx 0000
Xxxxxxxxxxxx, Xxxxxxxxxxxx 00000
November 14, 2008
Xxxxx Brothers, LLC
0000 Xxxx Xxxxxx, 00xx Xxxxx
Xxxxxxxxxxxx, Xxxxxxxxxxxx 00000
Gentlemen:
This letter will confirm our agreement, that Xxxxx Brothers, LLC (“Xxxxx Brothers”) shall loan Dekania Corp. (the “Company”) funds to cover its costs and to provide the Company with working capital to enable it to fund its expenses, including the expenses associated with the pursuit of a business combination and expenses with respect to its potential dissolution and liquidation, up to a maximum of $500,000 (the “Loan”). The Company is permitted to draw on the Loan, at any time up until the consummation of a business combination or the Company’s liquidation and dissolution, by providing written notice to Xxxxx Brothers. The Loan shall not bear interest.
The Loan shall terminate and be repaid in full upon the consummation of a business combination. If the Company does not complete a business combination within the time period permitted in its Second Amended and Restated Certificate of Incorporation, which may be amended from time to time, and is required to liquidate and dissolve, Xxxxx Brothers shall waive the repayment in full of all amounts due under the Loan.
Very truly yours,
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By: | /s/ Xxxxx Xxxxxxxxx | |
Name: Xxxxx Xxxxxxxxx | ||
Title: Chief Investment Officer and Secretary |
Agreed to and Accepted by:
XXXXX BROTHERS, LLC | ||
By: |
/s/ Xxxxx Xxxxxxxxx | |
Name: Xxxxx Xxxxxxxxx | ||
Title: Chief Executive Officer |