EXHIBIT 10.14
[LETTERHEAD OF URT INDUSTRIES, INC.]
May 28, 1999
Peaches Entertainment Corporation
0000 Xxxx Xxxxxxxxxx Xxxxx Xxxx.
Hallandale, FL 33009
Gentlemen:
It is the purpose of this letter agreement to confirm that, in
consideration of the benefit which would be expected to accrue to URT
Industries, Inc. ("URT"), URT hereby agrees that, in the event that funds
generated from the operations of Peaches Entertainment Corporation ("PEC"), and
the proceeds of debt financing, are insufficient to meet PEC's current projected
operating requirements during the fiscal year period ending April 2, 2000, then
URT will take any necessary action to see that funds are available to cover any
such shortfall up to April 2, 2000.
Please sign below to evidence our agreement.
Very truly yours,
URT Industries, Inc.
By: /s/ Xxxxx Xxxx
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Executive Vice-President
Xxxxxx and Approved:
Peaches Entertainment Corporation
By: /s/ Xxxxx Xxxx
------------------------
Executive Vice-President
