AAMD LLC Financial Support Letter Agreement with Medical Transcription Billing, Corp.
AAMD LLC has agreed to provide up to $1.2 million in financial support to Medical Transcription Billing, Corp. (MTBC) as needed, through the purchase of stock, convertible notes, or other instruments at an interest rate set by AAMD. This support is available until May 31, 2015, or until MTBC informs AAMD that it no longer requires assistance. The agreement ensures MTBC can continue its operations during this period.
Exhibit 10.9
AAMD LLC
9832 Laurel Valley Dr
Windermere FL 34786
March 26, 2014
Mahmud Haq
CEO and Chairman of the Board of Directors
Medical Transcription Billing, Corp.
7 Clyde Road
Somerset, NJ 08873
Dear Sir,
This letter confirms that AAMD LLC, a Delaware limited liability corporation, located at 9832 Laurel Valley Drive, Windermere FL 34786, has the ability and intent to provide financial support, in the form of purchasing stock, convertible notes, or some other instrument, at an interest rate determined by AAMD, of up to $1.2 million, if and as needed to enable MTBC to continue as a going concern until the earlier of May 31, 2015 or when MTBC notifies AAMD that it no longer needs the support.
Sincerely,
/s/ Ronald Davis
Ronald Davis
Cc: Deloitte LLP
