Laserfiche WebLink
~ ~. <br />;. <br />Mr. VCnc r'...~uaauc,u, <br />CFc~f Stec! Carpvration <br />October 19, 1990 <br />Page 3 <br />EXPENSES <br />Yvu agree to pay all reasonable legal and closing expenses, including <br />attorney's fees, filing and search charges, audit expenses, whether or not <br />this transaction closes. Such expenses shall be paid to us upon demand, <br />together with such advance funds on au:vunt of such expenses as we may <br />from time to time request <br />6. We will receive a super priority administrative expense claim in the above <br />banlQUp:cy case except for allowed adtninistrativc ezpease claims for <br />professivna] persons retained under Sections 327 and 1'103 of the <br />Batllavptry Code but in no event in excess of 51,000,000 subject tv <br />Con¢ress' right to create reserves for any such amounn under the credit <br />line. <br />7, PROIEC~'IONS AND FINANCIALS <br />You shall furnish to us all projeetiotts, cash flows and such other financial <br />information as we sha}i reasonably request and which are satisfactory to <br />us in our discretion. <br />This propose] does nut represent a commitment since it is subject tv a satisfactory <br />completion of our Geld audit, credit investigations, analysis and approval by vur <br />credit committee. Such approval, if issued at all, shall he contingent upon a <br />closing taking place by November 30, 1990, after which time vur obligation to <br />close shall require reapproval by vur Credit Committee even if we continue to <br />work on this uansaction. Said approval, if obtained, tray result in different terms <br />or conditions, or in a determination not tv consummate the transaction. In <br />addition, it is subject to the following: <br />1. Execution of Loan sad Security Agreements and such other legal <br />documents as are normal under the circumstances including, without <br />limitation, a final and non-appealable Unancing order of the Bankruptcy <br />Court approving this proposal and such documentation. Such agreements, <br />ftnanciag order and other legal documents shall contain such provisions, <br />representations, covenants and events of default as are satisfactory to us <br />and our counsel. <br />2. DEPOSIT <br />In conaidetation of our incurring certain expenses in connection with <br />establishing a leader/bvrrnwer arrangement between us you shall deposit <br />with us the sum of 535,000 which win be: <br />Conpn~a finanelal <br />A Conal~t~~ Cemp.np <br />