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~ 8. By execution and acceptance of this Agreement,
Guarantors hereby absolutely guarantee joi~ntly and severally,
the prompt payment of the obligation set forth and described .
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herein, as originally created by the aforesaid docwnents described ~°r
and referenced herein previously, as modified herein, and agree
to be bound by all terms and conditions of the documents evidencing,
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creating and securing such obligations, including this Agreement.
9. For so long as the obligation due and ow_ing to
Global from Gulfstream remains outstanding, Crider shall not ~
further-pledge, sell, or encumber the stock owned.by him in '
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Candleabra, Inc., a Florida Corporation, nor shall he, as a
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stockholder, director and/or officer of said corporation cause
that certain transmitting tower owned by Candleabra, Inc.,
situated at 3300 Pennbrooke Road, Hallandale, Florida, tb be
further encumbered or sold, except upon the prior written consent r:
of Global. In the event any of the foregoing takes place during ~
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the time that the obligation owing to Global remains outstanding ~
then it shall const-itute a default under the terms and conditions T
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of the obligation due and owing to Global.
10. There is currently outstanding a certain debenture -
from Gulfstr~am to United Investment Associates, Inc., pursuant
to which such debenture is convertible to 4,500 shares of c~ass
~ B non-voting common stock in Gulfstream, having a par value ~
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: o~ ~1.00 per share._ During the term that the obligation owing ~
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~ to Global by Gulfstream remains outstanding, the aforesaid ~
~ nar st~all C~lfstream pay mo~+e than $60, 000. 00 to re3eem said debexiture
; debenture shall not be conver tock,~~t, ;n' ~e vent such
€ or e~ooess rede~tian .
a conversion /takes.place, then ame shall con itute a default
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~ under the terms and condit.ions of the obligation owing to Global
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` by Gulfstream and the obligation shall be due and payable in full. ~
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' 11. P~ior to the assignment to Global of the purchase
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~ money obligation and security to be given to Gulfstream by Media
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~ Investors, Ltd., Global shall release, relinquish and quit claim
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n any right, title or interest it has in and to the assets being
~ transferred by Gulfstream to Media lnvestors, Ltd., including, ~
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but not necessarily limited to the assets attached hereto as
~ Exhibit A, end also including any claim which Global might have
to the license of WFTP--AM, the call letters of WFTP, any contracts
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