Limited Waiver to Amended and Restated Business Loan Agreement dated August 4, 2021 by and between Zions Bancorporation, N.A. (dba Amegy Bank) and Fuse Medical, Inc

Contract Categories: Business Finance - Loan Agreements
EX-10.1 2 fzmd-ex101_126.htm EX-10.1 fzmd-ex101_126.htm

Amegy

Bank®

ofTexas

P.O. Bo x 650696 • Dallas, Texas ###-###-####

www .amegybank.com

 

 

 

 

 

 

 

August 4, 2021

 

 

 

 

 

Mr. Bill McLaughlin

 

Fuse Medical, Inc.

1565 N Central Expy Ste. 200 Richardson, TX

 

Re:Fuse Medical, Inc. Loan Agreement

 

Dear Mr. McLaughlin,

 

Fuse Medical, Inc. is in default of the above-referenced indebtedness pursuant to the terms of the Note and other documents evidencing, securing or pertaining to the indebtedness. The default arose from non-compliance with the minimum trailing twelve-month EBITDA covenant for the period ending 6/30/2021.

 

These violations constitute an Event of Default (as defined in the Loan Agreement) under the Loan Agreement (the "Default").

 

This letter constitutes notice by the Bank to Fuse Medical, Inc. that the Bank has waived the aforementioned defaults for 6/30/2021. This letter does not constitute a waiver of any default or Event of Default under the Loan Agreement except for the Default(s) described in the preceding paragraphs, or an agreement to waive any future defaults or Events of Default under the Loan Agreement, and no such inference, assumption, or course of dealing shall be created hereby. The Bank expressly reserves any and all rights and remedies under the Notes, the Loan Agreement, and all other documents executed in connection therewith, at law and in equity.

 

Sincerely,

 

 

/s/ Nicholas J. Diaz

Nicholas J. Diaz

Executive Vice President Amegy Bank

 

 

 

 

 

 

We pledge to do all we can to earn an A+ from our customers every day.

 

 

 

 

A division of ZB, N.A. Member FDIC