RECITALS:Distribution Agreement • August 3rd, 2006 • Hirsch International Corp • Wholesale-industrial machinery & equipment • New York
July 25, 2006 MHM SIEBDRUCKMASCHINEN GMBH Muhlgraben 43a A-6343 Erl Austria Re: Guaranty of Collection Gentlemen: Reference is made to that certain Distribution Agreement (the "Distribution Agreement") dated as of July 8, 2006 by and between MHM...Guaranty of Collection • August 3rd, 2006 • Hirsch International Corp • Wholesale-industrial machinery & equipment
Reference is made to that certain Distribution Agreement (the "Distribution Agreement") dated as of July 8, 2006 by and between MHM SIEBDRUCKMASCHINEN GMBH ("MHM") and HIRSCH DISTRIBUTION, INC. ("Distributor"). Pursuant to Section 9(b) of the Distribution Agreement, Distributor may become obligated, from time to time, to pay MHM for Products (as defined in the Distribution Agreement) ordered from MHM. As additional consideration given to MHM for the execution of the Distribution Agreement and the transactions set forth therein, Hirsch International Corp. (the "Company") hereby agrees to guaranty the full and prompt payment of all of Distributor's obligations to pay for Products pursuant to Section 9(b) of the Distribution Agreement upon the Distributor's failure to make timely payment of its obligations thereunder. The Company agrees to pay on demand all sums due or to become due to MHM from Distributor pursuant to Section 9(b) by reason of Distributor's failure to make timely payment
