TERM LOAN AGREEMENT THE CIT GROUP/COMMERCIAL SERVICES, INC. (as Lender) and SYNTAX-BRILLIAN CORPORATION SYNTAX GROUPS CORPORATION And SYNTAX CORPORATION (as Borrowers) Dated: April 26, 2007Term Loan Agreement • May 2nd, 2007 • Syntax-Brillian Corp • Radio & tv broadcasting & communications equipment • California
THE CIT GROUP/COMMERCIAL SERVICES, INC., a New York corporation, with an office located at 300 South Grand Avenue, Los Angeles, California 90071 (“CIT”), is pleased to confirm the terms and conditions under which CIT shall make a term loan to SYNTAX-BRILLIAN CORPORATION, a Delaware corporation, SYNTAX GROUPS CORPORATION, a California corporation, and SYNTAX CORPORATION, a Nevada corporation (each a “Company”, and collectively and jointly and severally, the “Companies”), with a principal place of business at 20480 E. Business Parkway, City of Industry, CA 91789.
To: THE CIT GROUP/COMMERCIAL SERVICES, INC.Guaranty • May 2nd, 2007 • Syntax-Brillian Corp • Radio & tv broadcasting & communications equipment • California
This Guaranty (as the same may be amended, restated, supplemented or otherwise modified from time to time, the “Guaranty”) is executed as an inducement to you to enter into the Agreement and to make loans or advances to the Company or otherwise to extend credit or financial accommodations to the Company, and is executed in consideration of your doing or having done any of the foregoing. The undersigned agrees that any of the foregoing shall be done or extended by you in your sole discretion, and shall be deemed to have been done or extended by you in consideration of and in reliance upon the execution of this Guaranty, but that nothing herein shall obligate you to do any of the foregoing.
