Irrevocable Financial Support Commitment by G.S. Beckwith Gilbert to PASSUR Aerospace, Inc. (Feb 12, 2018–Feb 12, 2019)

Contract Categories: Business Finance › Guaranty Agreements
Summary

G.S. Beckwith Gilbert, as Chairman and principal shareholder of PASSUR Aerospace, Inc., commits to provide financial support to the company from February 12, 2018, through February 12, 2019. 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 February 12, 2019, ensuring the company can continue operating as a going concern.

Read More Arrow
EX-10.18 5 exh10_18.htm COMMITMENT OF G.S. BECKWITH GILBERT, DATED FEBRUARY 12, 2019
Exhibit 10.18
 
Field Point Capital Management Company
One Landmark Square, Suite 1900
Stamford, CT 06901


February 12, 2018
PASSUR Aerospace, Inc.
One Landmark Square, Suite 1900
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 February 12, 2019.

Liquidity

I commit that if the Company at any time is unable to meet its obligations through February 12, 2019, 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 February 12, 2019. 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 February 12, 2019.

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
G.S. Beckwith Gilbert
President