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Friday, December 23, 2011 12:41:30 AM
Also, if I am reading this correctly, payments due to Surge will come out of any moneys that are above or beyond a $250k base amount, or 'working capital'; so CAVU will always have that base amount intact to continue operations with.
But lets say they go out and secure 5 mil in loans (or whatever), the $153+k will be paid off the top to remove the lein. Normal business, but please correct me if I'm wrong.
Any Financing made by CAVU, any of its affiliated companies or subsidiaries, from any of the aforementioned transactions whereby CAVU, its affiliated companies or affiliates, obtains good funds in an amount greater than $250,000.00 in the aggregate shall be covered by this Amendment and Assignment (hereafter "Assignment").
MB
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