Commitment Letter from Robert A. Levinson to Levcor International Board of Directors (March 13, 2007)

Contract Categories: Business Finance › Funding Agreements
Summary

Robert A. Levinson has committed in writing to personally support the cash needs of Levcor International up to $3 million through January 2, 2009. He also agrees not to demand repayment of any principal or interest currently owed to him by Levcor International until January 1, 2009. This letter reaffirms his previous commitment to the company's independent auditors and is referenced in the company's financial disclosures.

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EX-10.37 3 ex10_37.txt EXHIBIT 10.37 EXHIBIT 10.37 ROBERT A. LEVINSON 1065 Avenue of the Americas New York, NY 10018 March 13, 2007 TO: BOARD OF DIRECTORS OF LEVCOR INTERNATIONAL This letter will serve to reaffirm my commitment to personally support the cash needs of Levcor International through January 2, 2009 and not to demand any repayment of principal or interest currently owed to me until January 1, 2009. This commitment is a reaffirmation of my commitment to our independent auditors, as reflected in their year-end rep letter and disclosed in the K and the Q. I am prepared to fund up to a maximum of $3 million to meet the cash needs of Levcor International, if necessary. Sincerely yours, /s/ ROBERT A. LEVINSON ------------------------- Robert A. Levinson ================================================================================