Funding Commitment Letter between Dr. Gerald J. Burnett and Avistar Communications Corporation
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Summary
Dr. Gerald J. Burnett agrees to provide funding to Avistar Communications Corporation, if needed, through March 23, 2013. The funding will be up to $6 million and will use the same terms and mechanism as Avistar’s current $6 million revolving line of credit, which ends on December 22, 2012. This letter serves as a commitment to ensure Avistar has access to necessary funds during this period.
EX-10.54 7 exh_10-54.htm EX-10.54 exh_10-54.htm
EXHIBIT 10.54
March 22, 2012
Dr. Gerald J. Burnett
1476 Cyprus Drive
Pebble Beach, CA 93953
Avistar Communications Corporation
1875 South Grant Street, 10th Floor
San Mateo, CA 94112
To Whom It May Concern:
If needed, I, Dr. Gerald J. Burnett, will fund Avistar Communications Corporation (“Avistar”) through March 23, 2013, with the same mechanism and terms that currently secures Avistar’s existing $6.0 million revolving line of credit that terminates on December 22, 2012, up to a total dollar amount of $6.0 million.
/s/ Dr. Gerald J. Burnett
Dr. Gerald J. Burnett
