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Solution Financial Inc. — Capital/Financing Update 2021
Mar 29, 2021
46163_rns_2021-03-29_d9ee93ca-10bf-4942-a654-4c354eab0179.PDF
Capital/Financing Update
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Form 1664 (06/05)
3.
Security:
Schedule "A: of the Original Agreement shall be amended by adding the following:
To Be Obtained:
-
Overdraft Lending Agreement for[$] 10,000,000, to be executed by the Borrowers.
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• Limited Liability Guarantee for[$] 3,333,333, to be executed by Bryan Pang.
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Such additional security instruments, assurances and supporting documents, as the Bank may deem necessary or advisable for the purpose of obtaining and perfecting the foregoing security.
To Be Deleted:
-
Overdraft Lending Agreement for[$] 7,500,000, to be executed by the Borrowers.
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Limited Liability Guarantee for[$] 2,500,000, executed by Bryan Pang.
4. Conditions Precedent to Drawdown:
LOC:
The following conditions precedent must be fulfilled prior to the Bank having any obligation to make any drawdown:
- The Bank shall be satisfied with the business assets and financial condition of the Borrowers plus all security documentation "To Be Obtained" and supporting agreements and documents must be completed in a form satisfactory to the Bank, and must be executed and registered, as appropriate.
- Continuation of Original Agreement:
The Borrowers and the Guarantor hereby acknowledge and confirm that except as expressly amended herein, the Original Agreement and all of the terms and conditions therein shall continue to be in full force with respect to the credit facilities.
If you are in agreement with the above terms and conditions, please sign and return the enclosed copy of this letter. This Agreement will expire if not accepted by December 30, 2019.
Yours truly,
CANADIAN WESTERN BANK
"Rob Larsen " Rob Larsen Senior Manager Business Development
"Craig Martin"
Craig Martin A VP & Branch Manager Langley Branch
RL/AS
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"Bryan Pang" Dec 20, 2019 "Bryan Pang" Dec 20, 2019
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"Bryan Pang"
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Dec 20, 2019