Reaffirmation of Limited Fraud Guaranty by James H. Long and Patricia L. Winstead for Textron Financial Corporation

Contract Categories: Business Finance › Guaranty Agreements
Summary

James H. Long and Patricia L. Winstead reaffirm their personal guarantee of obligations owed by I-SECTOR CORPORATION, STRATASOFT, INC., INTERNETWORK EXPERTS, INC., ISECOLDSUB, INC., and VALERENT INC. to Textron Financial Corporation. This reaffirmation is made in consideration of Textron's approval to continue a $15,000,000 credit facility. The letter confirms that the guarantors remain fully responsible under the original Limited Fraud Guaranty, with no changes to its terms. The agreement is governed by Rhode Island law and disputes will be resolved in Rhode Island courts.

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EX-10.21 16 h13381exv10w21.txt REAFFIRMATION OF LIMITED FRAUD GUARANTY EXHIBIT 10.21 REAFFIRMATION OF LIMITED FRAUD GUARANTY February 18, 2004 Textron Financial Corporation 1180 Welsh Road, Suite 280 North Wales, PA 19454 Ladies and Gentlemen: I acknowledge that I executed a Limited Fraud Guaranty for obligations of the I-SECTOR CORPORATION, STRATASOFT, INC, INTERNETWORK EXPERTS, INC., ISECOLDSUB, INC., and VALERENT INC. to Textron Financial Corporation ("TEXTRON), dated January 30, 2004. In consideration for TEXTRON approving a continuation in the credit facility of $15,000,000 and intending to be legally bound, I hereby reaffirm my joint and several, direct and indirect Limited Fraud Guaranty to TEXTRON for all obligations of the I-SECTOR CORPORATION, STRATASOFT, INC, INTERNETWORK EXPERTS, INC., ISECOLDSUB, INC., and VALERENT INC. to TEXTRON. This letter does not reduce or limit in any way my obligations to TEXTRON under our Limited Fraud Guaranty and this letter does not change any other terms or conditions of the said Limited Fraud Guaranty. This letter shall be governed by the laws of the State of Rhode Island. Any dispute between the parties concerning the terms or provisions of this Reaffirmation of Individual Guaranty shall be brought in the jurisdiction of the courts of the State of Rhode Island in the event of any such dispute. I waive a trial by jury in any action concerning this Reaffirmation of Limited Fraud Guaranty or the subject matter thereof. /s/ James H. Long /s/ Patricia L. Winstead - ----------------------------------- ----------------------------------- Attest - ----------------------------------- ----------------------------------- Attest