Commitment to Provide Funding Agreement between Sylvan Ventures, Sylvan Learning Systems, Inc., and eSylvan (July 14, 2000)
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Summary
Sylvan Ventures and Sylvan Learning Systems, Inc. have committed to provide the necessary funding to cover all cash needs of eSylvan through September 30, 2001. This commitment ensures that eSylvan will have financial support during this period, regardless of whether private equity funding is secured. The agreement is addressed to eSylvan's Board of Directors and is signed by Lee McGee, Executive Vice President and CFO of Sylvan Learning Systems, Inc. and Executive Vice President of Sylvan Ventures.
EX-10.11 2 0002.txt COMMITMENT TO PROVIDE FUNDING Exhibit 10.11 Date: July 14, 2000 To: Board of Directors of eSylvan From: Lee McGee Executive Vice President & CFO, Sylvan Learning Systems, Inc. Executive Vice President, Sylvan Ventures Re: Funding of eSylvan Sylvan Ventures and/or Sylvan Learning Systems, Inc. is committed to funding the cash requirements of eSylvan at least through September 30, 2001. It is possible that a private equity funding will be initiated during this period. However, this will not be relied on to ensure the funding needed prior to September 30, 2001.
