ACKNOWLEDGMENT OF FOURTH AMENDMENT TO LOAN AND SECURITY AGREEMENT AND REAFFIRMATION OF UNCONDITIONAL GUARANTY AND DEED OF TRUST, SECURITY AGREEMENT AND FIXTURE FILINGLoan and Security Agreement • March 16th, 2004 • Avistar Communications Corp • Computer communications equipment
Avistar Communications Corporation 555 Twin Dolphin Drive, Suite 360 Redwood Shores, CA 94065 February 27, 2004Commitment Agreement • March 16th, 2004 • Avistar Communications Corp • Computer communications equipment
In the event that the Comerica Bank Loan and Security Agreement, as amended February 27, 2004, (the "Bank Line") is not sufficiently available to Avistar Communications Corporation (the Company) for any reason, I, Gerald Burnett, unconditionally commit to provide the Company adequate funds in order for the Company to meet its obligations as they become due. This commitment will not exceed $2.0 million (inclusive of any funds drawn by the Company and subject to my personal guarantee of the Company's obligations under the Bank Line) and any funds provided to the Company under this commitment shall not be due for repayment by the Company any sooner than February 27, 2005. This commitment shall terminate, pro rata, prior to February 27, 2005 to the extent that there occurs a financing event providing for comparable funding, or other net addition to working capital up to the $2.0 million commitment.
FOURTH AMENDMENT TO LOAN AND SECURITY AGREEMENTLoan and Security Agreement • March 16th, 2004 • Avistar Communications Corp • Computer communications equipment
This Fourth Amendment to the Loan and Security Agreement (the "Amendment") is entered into as of February 27, 2004, by and between COMERICA BANK ("Bank") and AVISTAR COMMUNICATIONS CORPORATION ("Borrower").
