LETTER LOAN AGREEMENT June 9, 2006Loan Agreement • October 13th, 2006 • Ronco Corp • Retail-nonstore retailers • Texas
The undersigned, RONCO CORPORATION, a Delaware corporation (“Borrower”), has requested that Sanders Morris Harris Inc., a Texas corporation, individually and as administrative agent (the “Lead Lender”), and the persons and entities listed on the schedule of lenders attached hereto as Schedule 1 (each, together with the Lead Lender, a “Lender” and, collectively, the“Lenders”) lend to Borrower the net sum of up to $3,000,000.00. Subject to the terms of this Loan Agreement (this “Agreement”), Borrower and each of the Lenders hereby agree as follows:
ASSIGNMENT OF LIFE INSURANCE POLICYAssignment of Life Insurance Policy • October 13th, 2006 • Ronco Corp • Retail-nonstore retailers
THIS ASSIGNMENT OF LIFE INSURANCE POLICY (“Assignment”) is made as of June 9, 2006, by Ronco Corporation, a Delaware corporation (hereinafter called “Assignor), whose address is 21344 Superior Street, Chatsworth, California 91311 in favor of Sanders Morris Harris Inc., a Texas corporation (“Lead Lender”), individually and on behalf of the Lenders (“Lenders”) parties to the Letter Loan Agreement dated as of the date hereof, among Assignor and such Lenders (the “Loan Agreement”), whose address is 600 Travis Street, Suite 3100, Houston, Texas 77002.
SECURITY AGREEMENTSecurity Agreement • October 13th, 2006 • Ronco Corp • Retail-nonstore retailers • Texas
THIS SECURITY AGREEMENT (“Agreement”) is made as of June 9, 2006, by RONCO CORPORATION, a Delaware corporation (hereinafter called “Debtor”), whose address is 21344 Superior Street, Chatsworth, California 91311 in favor of SANDERS MORRIS HARRIS INC., a Texas corporation, individually and as agent for the Lenders (“Secured Party”), whose address is 600 Travis Street, Suite 3100, Houston, Harris County, Texas 77002. Debtor hereby agrees with Secured Party as follows:
