Extension Letter to Forbearance Agreement between Aquis Communications Group, Inc. and AMRO International, S.A.

Contract Categories: Business Finance › Forbearance Agreements
Summary

This letter, sent by legal counsel for AMRO International, S.A. to Aquis Communications Group, Inc., confirms that AMRO agrees to extend the term of their existing Forbearance Agreement from 180 days to December 31, 2001. The extension does not affect provisions that allow for early termination if Aquis defaults on other agreements, ends its relationship with Pirinate Consulting Group, or fails to cooperate with Pirinate. The letter serves as formal notice of the extension and the continued enforceability of these termination conditions.

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EX-10.54 5 b311980_ex10-54.txt LETTER FROM EXHIBIT 10.54 [LETTERHEAD OF EPSTEIN BECKER & GREEN, P.C.] June 8, 2001 VIA FACSIMILE - ------------- Chief Financial Officer Aquis Communications Group, Inc. 1719A Route 10, Suite 300 Parsippany, NJ 07054 Attn: D. Brian Plunkett Dear Mr. Plunkett: Our client, AMRO International, S.A. ("AMRO"), has authorized us to advise you that they agree to extend the term of that certain Forbearance Agreement (the "Agreement"), dated April 13, 2001, by and between Aquis Communications Group, Inc. (the "Company") and AMRO, end on December 31, 2001 rather than 180 days from the date of the Agreement. Nothing herein shall nullify or void the provisions in the Agreement that terminate the Agreement in the event (i) the Company defaults on any material agreement and the other party to such agreement enforces its rights against the company thereunder, (ii) the Company terminates its retention of Pirinate Consulting Group, LLC ("Pirinate") under the agreement entered into between Pirinate and the Company, or (iii) Pirinate notifies AMRO of its good faith belief that the Company is not cooperating with Pirinate in its efforts to consult with and assist the Company pursuant to the terms of the said consulting agreement. Very truly yours, /s/ Robert Charron --------------------------------------- Robert Charron cc: Joseph P. Galda, Esq. Thomas Badian