DEMAND NOTEMedia Arts Group Inc • January 29th, 2004 • Commercial printing
Borrower intends to merge (the “Merger”) with another Delaware corporation, Media Arts Group, Inc., on or about the date hereof. It is the intent of Borrower and Lender that the obligations represented by this Note will be assumed by the merged entity. The merged entity and Lender are parties to a Loan and Security Agreement (the “Agreement”) dated as of the date hereof, which is currently held in escrow pending consummation of the Merger. Upon the occurrence of the Merger, (i) the obligations evidenced by this Note will then be evidenced by the Term Note and Revolving Credit Note (each as defined in the Agreement), and (ii) Lender will immediately mark this Note in such a manner as to indicate that it has been superseded by such documents and will cancel this Note.
GUARANTEEGuarantee • January 29th, 2004 • Media Arts Group Inc • Commercial printing • California
GUARANTEE, dated as of January 29, 2004, made by Thomas Kinkade (the “Guarantor”), in favor of GENERAL ELECTRIC CAPITAL CORPORATION, as Lender (the “Lender”) under the Demand Loan Documents referred to below.
