Commitment Letter from Renova Media Enterprises Ltd. to Moscow CableCom Corp.
Renova Media Enterprises Ltd. has committed to provide Moscow CableCom Corp. and its subsidiaries with enough capital to ensure their operations continue without interruption for one year following the company's SEC filing of its Form 10-K for the year ending December 31, 2006. The exact amount and type of investment are not specified, but Renova Media assures support to maintain the company's asset values as of that date. This letter is addressed to the Board of Directors of Moscow CableCom Corp.
Exhibit 10.34
2nd TERRACE WEST, CENTREVILLE
P.O. BOX N-7755
NASSAU, BAHAMAS
TEL. (242) 326 2150
FAX. (242) 326 2151
April 17, 2007
Board of Directors
Moscow CableCom Corp.
590 Madison Ave 38th Floor
New York, NY 10022
| Re: | Moscow CableCom Corp. |
Dear Board of Directors of Moscow CableCom Corp.:
This is a commitment of Renova Media Enterprises Ltd. on its own behalf or on behalf of one or more of its affiliated companies (collectively “Renova Media”), that we will provide Moscow CableCom Corporation (the “Company”) and/or its subsidiaries with sufficient capital to ensure that its operations will continue uninterrupted for a period of one year from the Company’s filing with the SEC of its Form 10-K for the period ending December 31, 2006.
Renova Media is not making any representation as to the amount or the nature of such investment. However, we stand prepared to make such investment to ensure the Company’s future uninterrupted operations for the respective period. We fully expect that such amount, as may be determined at a later date, will be sufficient to justify the values of the Company’s assets as they are recorded as of December 31, 2006.
| Sincerely, | ||
| /s/ Olivier Chaponnier | ||
| By: | Olivier Chaponnier | |
| Director, Renova Media Enterprises Ltd. | ||
| Cc: | David R. Van Valkenburg, Chairman MOCC Audit Committee |
Ernst & Young LLC,
Andy Intrater, Chairman of the Board
