Irrevocable Financial Support Commitment by G.S. Beckwith Gilbert to PASSUR Aerospace, Inc. (June 11, 2019)

Summary

G.S. Beckwith Gilbert, as Chairman and principal shareholder of PASSUR Aerospace, Inc., commits to provide financial support to the company from June 11, 2019, through June 11, 2020. 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 June 11, 2020, ensuring the company can continue operating as a going concern.

EX-10.5 2 exh10_5.htm COMMITMENT OF G.S. BECKWITH GILBERT, DATED JUNE 11, 2019.

EXHIBIT 10.5

Field Point Capital Management Company

One Landmark Square, Suite 1900

Stamford, CT 06901

June 11, 2019

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 June 11, 2020.

Liquidity

I commit that if the Company at any time is unable to meet its obligations through June 11, 2020, 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 June 11, 2020. 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 June 11, 2020.

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