Personal Guarantee by Dr. Gerald Burnett for Avistar Communications Corporation Funding
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Summary
Dr. Gerald Burnett has provided a personal guarantee to fund Avistar Communications Corporation up to $7 million through March 31, 2011. The funding will use the same terms and mechanism as Avistar’s existing $5 million revolving line of credit, which ends on December 21, 2010. This guarantee ensures Avistar has access to additional financing if needed during the specified period.
EX-10.50 13 ex_10-50.htm PERSONAL GUARANTEE ISSUED BY GERALD BURNETT ex_10-50.htm
EXHIBIT 10.50
March 26, 2010
Dr. Gerald Burnett
202 Camino Al Lago
Atherton, CA 94027
Avistar Communications Corporation
1875 South Grant Street, 10th Floor
San Mateo, CA 94112
To Whom It May Concern:
If needed, I, Dr. Gerald Burnett, will fund Avistar Communications Corporation (“Avistar”) thru March 31, 2011, with the same mechanism and terms that currently secures Avistar’s existing $5.0 million revolving line of credit that terminates on December 21, 2010, up to a total dollar amount of $7.0 million.
/s/ Gerald J. Burnett
Dr. Gerald Burnett
