Irrevocable Financial Support Commitment by G.S. Beckwith Gilbert to PASSUR Aerospace, Inc. (September 14, 2021)
G.S. Beckwith Gilbert, as Chairman and principal shareholder of PASSUR Aerospace, Inc., commits to provide ongoing financial support to the company from September 14, 2021, through September 15, 2022. If PASSUR Aerospace cannot meet its financial obligations during this period, Mr. Gilbert will supply the necessary funds, either through loans, advances, or by deferring payments owed to him. This commitment is unconditional and cannot be revoked before September 15, 2022, ensuring the company can continue its operations.
EXHIBIT 10.2
Field Point Capital Management Company
One Landmark Square, Suite 1905
Stamford, CT 06901
September 14, 2021
PASSUR Aerospace, Inc.
One Landmark Square, Suite 1905
Stamford, CT 06901
As Chairman of the Board as well as the principal shareholder of PASSUR Aerospace, Inc. (“PASSUR Aerospace” or the “Company”), I make the following commitment to the Company with respect to the period from the date of this commitment through September 15, 2022.
Liquidity
I commit that if the Company at any time is unable to meet its obligations through September 15, 2022, that I will provide the necessary continuing financial support to the Company to ensure the Company’s ability to operate as a going concern through the period ending September 15, 2022. Such continuing support may take the form of additional loans or advances to PASSUR Aerospace in addition to the deferral of principal and/or interest payments due on outstanding loans to PASSUR Aerospace as referred to above.
These commitments are not conditional and are irrevocable through the period ending September 15, 2022.
I, G.S. Beckwith Gilbert, having the financial wherewithal to enter into this irrevocable commitment, make the above commitments to the Company and its shareholders.
/s/ G.S. Beckwith Gilbert |
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G.S. Beckwith Gilbert |
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President |
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