|
|
|
|
Document Preview Letter Agreement Re: Commitment for Facility |
||||
|
|
||||
|
Click "Add to Cart" button to purchase document. |
||||
|
|
||||
|
Title: |
Letter Agreement Re: Commitment for Facility |
|||
|
Entities: |
Phoenix Footwear Group, Inc.; Manufacturers and Traders Trust Company; Royal Robbins, Inc. |
|||
|
Date: |
2003 |
|||
|
Size: |
Preview shows 2KB of 21KB total |
|||
|
Price: |
$39 |
|||
|
ID: |
#164310 |
|||
|
|
||||
|
||||
|
|
||||
|
Start of Preview |
||||
September 23, 2003
Phoenix Footwear Group, Inc.
12626 High Bluff Drive, Suite 440
San Diego, California 92130
Attention: James Riedman, Chief Executive Officer
RE: COMMITMENT FOR $24,750,000 FACILITY
Dear Jim:
You have advised Manufacturers and Traders Trust Company (the "BANK," "US"
or "OUR") that Phoenix Footwear Group, Inc. (the "BORROWER") seeks financing for
the acquisition of Royal Robbins, Inc. ("Royal") in a stock purchase (the
"MERGER"). Attached hereto is a Summary of Terms and Conditions (the "TERM
SHEET") describing the general terms and conditions for up to an aggregate of $
24,750,000 in Facility (the "FACILITY").
Based upon and subject to the terms and conditions set forth in this
Commitment Letter (the "COMMITMENT LETTER") and the Term Sheet, we are pleased
to advise you of our commitment to provide the Facility. The commitment of the
Bank hereunder is based upon the financial and other information regarding the
Borrower and its subsidiaries and Royal Robbins previously provided to the Bank.
Accordingly, the commitments hereunder are subject to the condition, among
others, that (i) there shall not have occurred after the date of such financial
and other information any adverse change in the business, assets, liabilities
(actual or contingent), operations or condition (financial or otherwise) of the
Borrower and its subsidiaries taken as a whole or in Royal Robbins and its
subsidiaries, taken as a whole, and (ii) the execution and delivery of the
Bank's legal documents, together with any other documents requested by us to
effect the Facility, by the Borrower and, as applicable, each Guarantor,
incorporating the terms and conditions outlined or referred to in the Term
Sheet.
By executing this Commitment Letter, you agree to reimburse the Bank from
time to time on demand for all reasonable out-of-pocket fees and other expenses
(including, but not limited to, the reasonable fees, disbursements and other
charges of counsel to the Bank) incurred in connection with the Facility,
including the preparation of definitive documentation for the Facility and the
|
End of Preview |
Home Intelligence Services Subscriptions News About Us