December 30, 1999 ComVest Capital Management LLC 830 Third Avenue New York, NY 10022 Re: Advancement of Funds Gentlemen: Reference is made to that certain Commitment Letter dated December 30, 1999 (the "Letter") between ComVest Capital Management LLC...Advancement of Funds Agreement • January 12th, 2000 • U S Wireless Data Inc • Calculating & accounting machines (no electronic computers)
This letter is to confirm that I, as a lender, will subject to ComVest first having funded $195,000 under the Letter, advance funds to the Company in a proportionate amount to that funded to the Company by ComVest pursuant to the Letter. For each $1 advanced by ComVest after such initial $195,000 is advanced I will advance a fraction of such dollar, the numerator of which is 100 and the denominator of which is 805.
