May 12, 2016
AmBase Corporation
100 Xxxxxx Green, 3rd Floor
Greenwich, CT 06830-6027
May 12, 2016
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Xx. Xxxxxxx X. Xxxxxx
000 Xxxxx Xxxxx Xxxxxxxxx, Xxx. 9A
Boca Raton, FL 33432
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Dear Xxxxxxx:
This letter confirms that you, Xxxxxxx X. Xxxxxx (X. X. Xxxxxx) personally hereby agrees to provide a financial commitment to AmBase Corporation ("AmBase" or the "Company") in the form of a line of credit up to $1,000,000 (One Million Dollars) or an additional amount(s) as may be necessary and agreed to for working capital for the Company on an as needed basis from time to time, if and when the case may be necessary on terms agreeable to/by the Company and X. X. Xxxxxx at such time. Such line of credit to be secured by a first mortgage interest in the building, 000 Xxxxxx Xxxxx, Xxxxxxxxx, Xxxxxxxxxxx ("100 Putnam") which shall be senior to any then existing liens on 100 Xxxxxx.
Sincerely,
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/s/ Xxxx Xxxxxxx
Xxxx Xxxxxxx
Vice President and Chief Financial Officer
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Accepted and agreed to by:
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Accepted and agreed to by:
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/s/ Xxxxxxx X. Xxxxxx
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/s/Xxxx Xxxxxxx
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Xxxxxxx X. Xxxxxx
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Xxxx Xxxxxxx, AmBase Corporation
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Vice President and Chief Financial Officer
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