TALK VISUAL CORP
8-K, EX-2, 2000-08-03
PREPACKAGED SOFTWARE
Previous: TALK VISUAL CORP, 8-K, 2000-08-03
Next: TALK VISUAL CORP, 8-K, EX-99, 2000-08-03




                                    AGREEMENT


         This Agreement is made this 22nd day of June 2000, by and between Talk
Visual Retail Acquisitions, Inc. ("TVRAI"), a Florida corporation with its
principal business address at 3550 Biscayne Boulevard, Miami, Florida 33137, and
Various Business Management ("VBM"), a New York corporation with its principal
business address at 529 West 207th Street, 2nd Floor, New York, New York 10034.

         Whereas, VBM and/or its affiliates controls, leases, owns and/or
operates eleven (11) telephone call centers/money transfer establishments (the
"Stores") in the greater New York/New Jersey area, whose locations and lease
terms are listed on Exhibit A to this Agreement; and

         Whereas, VBM represents that the total gross revenue from all eleven
telephone calls shops is equal to or greater than two million dollars
($2,000,000.00) annually, based on the gross revenue for the calendar year 1999
(the "presumed gross revenue"); and

         Whereas, VBM represents that TVRAI may assume and/or be substituted for
VBM and/or its affiliates with respect to any and all leases or similar
agreements regarding the realty interests held by these stores for a period not
less than three (3) years; and

         Whereas, TVRAI desires to acquire the rights to the leases to the
Stores and all of the physical assets contained in each Store, but specifically
is not purchasing the VBM corporation or acquiring any asset or liability of VBM
not associated with the enumerated leases and the physical assets exiting in
each store.

         NOW, THEREFORE, the parties agree to the following:

              1.           Pursuant to the terms set out here below, TVRAI
                           hereby acquires all systems, physical assets and
                           leases of VBM related to the eleven (11) telephone
                           calls shops/money transfer operations described
                           above. TVRAI is not purcchasing equities of any type
                           from VBM, nor is TVRAI assuming any obligations,
                           past, present or future related to VBM or any of
                           these Stores unless specifically agreed. All
                           obligations of VBM, which existed as of the date of
                           this First Closing described below, shall remain
                           exclusively the obligation of VBM. All obligations
                           incurred by TVRAI after the date of the First Closing
                           shall become the exclusive obligation of TVRAI.

              2.           VBM certifies it has full rights, authorization, and
                           power-of-attorney to sell, transfer and dispose of
                           the systems, assets, leases and any other elements
                           related to the business of VBM; and VBM agrees that

<PAGE>

                           no continuing obligations, past obligations or future
                           obligations, save those specifically agreed to by
                           TVRAI at First Closing, will be in any way, manner,
                           shape or form the obligations of TVRAI, and agrees to
                           indemnify TVRAI for any claims brought against TVRAI,
                           whether or not such claims become litigated, where
                           the claimant asserts any claim arising out of a
                           relationship with VBM arising prior to the date of
                           Final Closing. Satisfaction of this indemnity shall
                           come from and be limited to the stock of TVCP that is
                           being delivered to VBM pursuant to this Agreement.

              3.           TVRAI shall transfer to VBM the following
                           consideration for the acquisition of the Stores as
                           described above:

              3.1          A cash payment in the total amount of Three Hundred
                           Fifty Thousand Dollars ($350,000.00) which shall be
                           paid as set out below; and

              3.2          Common stock of Talk Visual Corporation with a market
                           value of Five Hundred Fifty Thousand Dollars
                           ($550,000) to be paid and calculated as set out
                           below.

              4.           An initial Closing (the "First Closing") of the
                           transaction is being held today, June 26, 2000, at
                           which time TVRAI is acquiring all systems, assets and
                           leases of VBM (including assignments from the
                           original lessees of the Stores) relating to the
                           Stores. All documents relating to the purchase will
                           be held in escrow until the Final Closing referred to
                           in Paragraph 7 hereof. At the First Closing, TVRAI
                           will pay VBM $50,000 by certified check or wire
                           transfer. Up to an additional $100,000 will be used
                           by TVRAI and VBM to extinguish certain obligations
                           relating to the operation of some or all of the
                           Stores, to ensure that the landlords for the Stores
                           will consent to the assignment of the leases to
                           TVRAI, and to provide that all of the leases for the
                           Stores will have lease terms of at lease three (3)
                           years. VBM acknowledges that the landlords' consent
                           to the assignment of these leases and the minimum
                           term of three years are each material terms of this
                           Agreement and that failure to secure any of the
                           consents or the minimum terms will result in a
                           reduction of the purchase price as set forth in
                           paragraph 7 below.

              5.           In the two weeks following the First Closing, VBM
                           will take whatever steps are necessary to deliver to
                           TVRAI leases that have the agreed upon lease terms of
                           no less than three (3) years and the consent of each
                           of the landlords to the assignment of the leases to
                           TVRAI. Such consent shall be in the form attached
                           hereto as Exhibit "B."VBM agrees to cooperate in
                           every regard with TVRAI in all efforts to secure both
                           the minimum terms for the leases and the landlords'
                           consents. All funds so used shall be issued by TVRAI
                           check directly to the creditor or lessor, unless
                           expressly permitted, in writing, by TVRAI. In that
                           same time period, VBM shall make available to TVRAI
                           all carrier billings and money transfer records from


<PAGE>

                           the Stores so that TVRAI can conclude its due
                           diligence of the represented gross revenues for the
                           calendar year 1999.

              6.           Immediately following the First Closing, TVRAI may
                           take control of any or all of the Stores in its sole
                           discretion, and begin operations for and on behalf of
                           TVRAI. None of those operations shall be, in any way,
                           considered to be the operations of VBM or of any
                           joint venture of VBM and Talk Visual.

              7.           A final Closing (the "Final Closing") will be held
                           within ten (10) days following the conclusion of the
                           two week period described in paragraph 5, or within
                           ten (10) days of the fulfillment of the conditions of
                           paragraph 5, whichever is earlier. At that time VBM
                           will deliver to TVRAI documents sufficient to
                           indicate that all of the leases for the Stores have
                           terms of at least three (3) years from the date of
                           the First Closing together with consent from each of
                           the landlords for the assignment of these leases to
                           TVRAI. At the Final Closing, TVRAI will deliver a
                           certified check in the amount of $200,000 payable to
                           VBM, dated not later than thirty (30) days from the
                           date of the Final Closing; and, shares of stock
                           registered on the books and records of TVCP as owned
                           by VBM, or its assignee, equal in value to $550,000.
                           For purposes of valuing the TVCP stock, the parties
                           agree that the average closing stock price for the
                           ten (10) days previous to the First Closing will be
                           used. At this point, the documents and consideration
                           will be released from escrow. VBM agrees that when
                           the stock transferred to it becomes eligible for sale
                           in the public market, it will not sell more than
                           fifteen (15) percent of the shares it holds in any
                           one month and that the certificates it receives shall
                           be denominated in those allotments and stamped with a
                           legend that conforms to this Agreement. In the event
                           that in any future acquisition or transaction similar
                           to the transaction herein, the recipient of any
                           shares has a lesser restriction on the sale of shares
                           than that imposed here, then VBM's restriction shall
                           be reduced to be equal to that lesser restriction.
                           Likewise, in the event a Tender is made for the
                           shares of TVCP, which Tender has been approved by the
                           TVCP Board of Directors, then VBM or its assignee may
                           participate in such Tender without regard for the
                           limitations in this Agreement subject to any
                           limitations imposed by federal securities law. In the
                           event that VBM is unable to obtain a lease for any
                           Store that is at least three years, the parties will
                           negotiate a reduction in the total purchase price of
                           the Stores by mutual agreement. At that point, the
                           agreed upon consideration shall be paid to VBM and
                           the documents passing title to the stores shall be
                           released from escrow to TVRAI.

              8.           It is understood by VBM and TVRAI that all
                           obligations relating to the Stores that arise or
                           exist prior to the date of the First Closing remain
                           the obligation of VBM. Thereafter, all obligations
                           incurred by TVRAI relating to the Stores are for the
                           sole account of TVRAI. It is expressly understood


<PAGE>

                           that the operations of TVRAI are not a continuation
                           of the business of VBM but the operation of a new and
                           distinct entity.

              9.           TVRAI and VBM each represent and warrant that they
                           are duly incorporated and authorized to do business
                           in the states of their incorporation, that they are
                           fully authorized to enter into this Agreement, and
                           that the person signing the Agreement on their
                           respective behalves has the power and authority to do
                           so. Each further represent that they know of no law,
                           government regulation or contractual obligation which
                           would prevent them from entering into this Agreement.

              10.          VBM agrees to indemnify TVRAI from any and all claims
                           brought by third parties against TVRAI arising out of
                           the operation of the Stores prior to the date of the
                           First Closing. Should such claims be brought, VBM
                           will defend against such claims through counsel of
                           its own choosing. This indemnification is valid only
                           if TVRAI notifies VBM of such claims within ten (10)
                           days of the date when the claim is made.

              11.          The laws of the State of Florida will govern this
                           Agreement and all claims arising out of it, without
                           reference to its choice of laws provisions. The
                           parties agree that all disputes arising out of this
                           Agreement shall be settled by arbitration pursuant to
                           the Commercial Rules of the American Arbitration
                           Association, and that any arbitration shall take
                           place in Miami, Florida. Each party shall bear its
                           own costs of the arbitration unless otherwise decided
                           by the arbitrators.

              12.          Notices to the parties shall be deemed effective if
                           mailed first class, postage pre-paid to the following
                           addresses:

                           If to TVRAI:

                           Talk Visual Retail Acquisitions, Inc.
                           35550 Biscayne Boulevard
                           Miami, Florida 33137
                           Attention:  Eugene Rosov

                           If to VBM:

                           Various Business Management
                           529 West 207th Street, 2nd floor
                           New York, New York 10034
                           Attention:   Carlos Duran

<PAGE>

13. The parties acknowledge that this Agreement is the entire Agreement between
TVRAI and VBM, and that there are no other oral or written agreements,
representations or warranties upon which they are relying in entering into this
Agreement.


                                       TALK VISUAL RETAIL ACQUISITIONS, INC.


                                       By:  /s/ Eugene Rosov
                                            ----------------
                                            President



                                       VARIOUS BUSINESS MANAGEMENT


                                       By:   /s/ Jeanette Polanco
                                             --------------------
                                             President


<PAGE>
                              CONSENT TO ASSIGNMENT
                              ---------------------


RE:                        Lease Dated: July 10, 1996
                           Landlord:    Gratiniano Rivera
                           Tenant:      Foxcom Enterprises Ltd.



         As the Landlord of the lease described below, the undersigned hereby
acknowledges for the benefit of Talk Visual Retail Acquisition, Inc. ("TVRAI"),
the truth and accuracy of the following statements:

         13 A true and correct copy of the lease described above and all
         amendments, and other related documents are attached as Exhibit "A"
         (together referred to as the "Lease"). The Lease is in full force and
         effect. There are no other agreements with anyone that relate to or
         affect the leased premises (the "Premises").

         14 The Tenant is not in default under any aspect of the Lease.

         15 The fixed monthly rent and all other obligations payable under the
         terms of the Lease have been paid through the date of this document.

         16 Tenant has been in occupancy and paying rent under the Lease since
         the term commenced on August 31, 1996. The Lease shall terminate on
         July 31, 2001.

         17 The Tenant has no obligation to pay for any further improvements
         with respect to the Premises.

         18 The Lease and all of the Tenant's rights thereunder shall remain in
         full force and effect following any assignment of the Tenant's interest
         in the Lease to TVRAI, to which assignment Landlord hereby consents.

         19 Landlord is not the subject of any bankruptcy, insolvency, debtor's
         relief, reorganization, receivership or similar proceedings.


                  DATED this _______ day of June, 2000.




                                             By:
                                                 GRATINIANO RIVERA, Landlord


<PAGE>

                              CONSENT TO ASSIGNMENT
                              ---------------------


RE:                        Lease Dated:     October 1, 1997
                           Landlord:        Carlos Cinganelli
                           Tenant:          Lucy Communications, Corp.



         As the Landlord of the lease described below, the undersigned hereby
acknowledges for the benefit of Talk Visual Retail Acquisition, Inc. ("TVRAI"),
the truth and accuracy of the following statements:

         1. A true and correct copy of the lease described above and all
         amendments, and other related documents are attached as Exhibit "A"
         (together referred to as the "Lease"). The Lease is in full force and
         effect. There are no other agreements with anyone that relate to or
         affect the leased premises (the "Premises").

         2. The Tenant is not in default under any aspect of the Lease.

         3. The fixed monthly rent and all other obligations payable under the
         terms of the Lease have been paid through the date of this document.

         4. Tenant has been in occupancy and paying rent under the Lease since
         the term commenced on October 1, 1997. The Lease shall terminate on
         September 30, 2007.

         5. The Tenant has no obligation to pay for any further improvements
         with respect to the Premises.

         6. The Lease and all of the Tenant's rights thereunder shall remain in
         full force and effect following any assignment of the Tenant's interest
         in the Lease to TVRAI, to which assignment Landlord hereby consents.

         7. Landlord is not the subject of any bankruptcy, insolvency, debtor's
         relief, reorganization, receivership or similar proceedings.


                  DATED this _______ day of June, 2000.




                                              By:
                                                  CARLOS CINGANELLI, Landlord

<PAGE>



                              CONSENT TO ASSIGNMENT
                              ---------------------


RE:                        Lease Dated:  July 29, 1998
                           Landlord:     3900 Broadway Realty Co.
                           Tenant:       Lucy Communications Corp. a/k/a Pronto
                                         Express



         As the Landlord of the lease described below, the undersigned hereby
acknowledges for the benefit of Talk Visual Retail Acquisition, Inc. ("TVRAI"),
the truth and accuracy of the following statements:

         1. A true and correct copy of the lease described above and all
         amendments, and other related documents are attached as Exhibit "A"
         (together referred to as the "Lease"). The Lease is in full force and
         effect. There are no other agreements with anyone that relate to or
         affect the leased premises (the "Premises").

         2. The Tenant is not in default under any aspect of the Lease.

         3. The fixed monthly rent and all other obligations payable under the
         terms of the Lease have been paid through the date of this document.

         4. Tenant has been in occupancy and paying rent under the Lease since
         the term commenced on August 1, 1998. The Lease shall terminate on July
         31, 2003.

         5. The Tenant has no obligation to pay for any further improvements
         with respect to the Premises.

         6. The Lease and all of the Tenant's rights thereunder shall remain in
         full force and effect following any assignment of the Tenant's interest
         in the Lease to TVRAI, to which assignment Landlord hereby consents.

         7. Landlord is not the subject of any bankruptcy, insolvency, debtor's
         relief, reorganization, receivership or similar proceedings.


                  DATED this         day of June, 2000.
                             -------




                                        By:
                                             3900 BROADWAY REALTY CO.,
                                             Landlord


<PAGE>

                              CONSENT TO ASSIGNMENT
                              ---------------------


RE:                        Lease Dated:     November 1, 1997
                           Landlord:        Vito Guagenti
                           Tenant:          Lucy Rivera and Lucy Communication



         As the Landlord of the lease described below, the undersigned hereby
acknowledges for the benefit of Talk Visual Retail Acquisition, Inc. ("TVRAI"),
the truth and accuracy of the following statements:

         1. A true and correct copy of the lease described above and all
         amendments, and other related documents are attached as Exhibit "A"
         (together referred to as the "Lease"). The Lease is in full force and
         effect. There are no other agreements with anyone that relate to or
         affect the leased premises (the "Premises").

         2. The Tenant is not in default under any aspect of the Lease.

3.       The fixed monthly rent and all other obligations payable under the
         terms of the Lease have been paid through the date of this document.

         4. Tenant has been in occupancy and paying rent under the Lease since
         the term commenced on November 1, 1997. The Lease shall terminate on
         October 30, 2002.

         5. The Tenant has no obligation to pay for any further improvements
         with respect to the Premises.

         6. The Lease and all of the Tenant's rights thereunder shall remain in
         full force and effect following any assignment of the Tenant's interest
         in the Lease to TVRAI, to which assignment Landlord hereby consents.

         7. Landlord is not the subject of any bankruptcy, insolvency, debtor's
         relief, reorganization, receivership or similar proceedings.


                  DATED this         day of June, 2000.
                             -------




                                                  By:
                                                      VITO GUAGENTI, Landlord


<PAGE>
                              CONSENT TO ASSIGNMENT
                              ---------------------


RE:                        Lease Dated:     July 31, 1998
                           Landlord:        Maria Perez
                           Tenant:          Luisilenia Rivera and Pronto Express



         As the Landlord of the lease described below, the undersigned hereby
acknowledges for the benefit of Talk Visual Retail Acquisition, Inc. ("TVRAI"),
the truth and accuracy of the following statements:

         1. A true and correct copy of the lease described above and all
         amendments, and other related documents are attached as Exhibit "A"
         (together referred to as the "Lease"). The Lease is in full force and
         effect. There are no other agreements with anyone that relate to or
         affect the leased premises (the "Premises").

         2. The Tenant is not in default under any aspect of the Lease.

         3. The fixed monthly rent and all other obligations payable under the
         terms of the Lease have been paid through the date of this document.

         4. Tenant has been in occupancy and paying rent under the Lease since
         the term commenced on August 1, 1998. The Lease shall terminate on July
         31, 2003.

         5. The Tenant has no obligation to pay for any further improvements
         with respect to the Premises.

         6. The Lease and all of the Tenant's rights thereunder shall remain in
         full force and effect following any assignment of the Tenant's interest
         in the Lease to TVRAI, to which assignment Landlord hereby consents.

         7. Landlord is not the subject of any bankruptcy, insolvency, debtor's
         relief, reorganization, receivership or similar proceedings.


                  DATED this _______ day of June, 2000.




                                                  By:
                                                      MARIA PEREZ, Landlord


<PAGE>

                              CONSENT TO ASSIGNMENT
                              ---------------------


RE:                        Lease Dated:     October 28, 1997
                           Landlord:        Jose Kesselman and Juan Katz
                           Tenant:          Lucy Communication Corp.



         As the Landlord of the lease described below, the undersigned hereby
acknowledges for the benefit of Talk Visual Retail Acquisition, Inc. ("TVRAI"),
the truth and accuracy of the following statements:

         1. A true and correct copy of the lease described above and all
         amendments, and other related documents are attached as Exhibit "A"
         (together referred to as the "Lease"). The Lease is in full force and
         effect. There are no other agreements with anyone that relate to or
         affect the leased premises (the "Premises").

         2. The Tenant is not in default under any aspect of the Lease.

         3. The fixed monthly rent and all other obligations payable under the
         terms of the Lease have been paid through the date of this document.

         4. Tenant has been in occupancy and paying rent under the Lease since
         the term commenced on September 1, 1998. The Lease shall terminate on
         August 31, 2003.

         5. The Tenant has no obligation to pay for any further improvements
         with respect to the Premises.

         6. The Lease and all of the Tenant's rights thereunder shall remain in
         full force and effect following any assignment of the Tenant's interest
         in the Lease to TVRAI, to which assignment Landlord hereby consents.

         7. Landlord is not the subject of any bankruptcy, insolvency, debtor's
         relief, reorganization, receivership or similar proceedings.


                  DATED this _______ day of June, 2000.


                                             By:
                                                 JOSE KESELMAN, Landlord



                                             By:
                                                 JUAN KATZ, Landlord


<PAGE>

                              CONSENT TO ASSIGNMENT
                              ---------------------


RE:                        Lease Dated:     May 20, 1997
                           Landlord:        1352 Associates, LLC
                           Tenant:          Lucy Communications, Corp.



         As the Landlord of the lease described below, the undersigned hereby
acknowledges for the benefit of Talk Visual Retail Acquisition, Inc. ("TVRAI"),
the truth and accuracy of the following statements:

         1. A true and correct copy of the lease described above and all
         amendments, and other related documents are attached as Exhibit "A"
         (together referred to as the "Lease"). The Lease is in full force and
         effect. There are no other agreements with anyone that relate to or
         affect the leased premises (the "Premises").

         2. The Tenant is not in default under any aspect of the Lease.

         3. The fixed monthly rent and all other obligations payable under the
         terms of the Lease have been paid through the date of this document.

         4. Tenant has been in occupancy and paying rent under the Lease since
         the term commenced on June 1, 1997. The Lease shall terminate on May
         31, 2003.

         5. The Tenant has no obligation to pay for any further improvements
         with respect to the Premises.

         6. The Lease and all of the Tenant's rights thereunder shall remain in
         full force and effect following any assignment of the Tenant's interest
         in the Lease to TVRAI, to which assignment Landlord hereby consents.

         7. Landlord is not the subject of any bankruptcy, insolvency, debtor's
         relief, reorganization, receivership or similar proceedings.


                  DATED this _______ day of June, 2000.



                                              By:
                                                  1352 Associates, LLC, Landlord

<PAGE>

                              CONSENT TO ASSIGNMENT
                              ---------------------


RE:                        Lease Dated:  August 29, 1998
                           Landlord:     Fred Y. Yee
                           Tenant:       Lucy Rivera d/b/a Lucy Communications
                                         Corp.



         As the Landlord of the lease described below, the undersigned hereby
acknowledges for the benefit of Talk Visual Retail Acquisition, Inc. ("TVRAI"),
the truth and accuracy of the following statements:

         1. A true and correct copy of the lease described above and all
         amendments, and other related documents are attached as Exhibit "A"
         (together referred to as the "Lease"). The Lease is in full force and
         effect. There are no other agreements with anyone that relate to or
         affect the leased premises (the "Premises").

         2. The Tenant is not in default under any aspect of the Lease.

         3. The fixed monthly rent and all other obligations payable under the
         terms of the Lease have been paid through the date of this document.

         4. Tenant has been in occupancy and paying rent under the Lease since
         the term commenced on September 1, 1998. The Lease shall terminate on
         August 31, 2003.

         5. The Tenant has no obligation to pay for any further improvements
         with respect to the Premises.

         6. The Lease and all of the Tenant's rights thereunder shall remain in
         full force and effect following any assignment of the Tenant's interest
         in the Lease to TVRAI, to which assignment Landlord hereby consents.

         7. Landlord is not the subject of any bankruptcy, insolvency, debtor's
         relief, reorganization, receivership or similar proceedings.


                  DATED this _______ day of June, 2000.




                                                  By:
                                                      Frey Y. Yee, Landlord


<PAGE>
                              CONSENT TO ASSIGNMENT
                              ---------------------


RE:                        Lease Dated:     April 1, 1997
                           Landlord:        Benevento Realty Corp.
                           Tenant:          Andres Lugo and/or Manuel Botan



         As the Landlord of the lease described below, the undersigned hereby
acknowledges for the benefit of Talk Visual Retail Acquisition, Inc. ("TVRAI"),
the truth and accuracy of the following statements:

         1. A true and correct copy of the lease described above and all
         amendments, and other related documents are attached as Exhibit "A"
         (together referred to as the "Lease"). The Lease is in full force and
         effect. There are no other agreements with anyone that relate to or
         affect the leased premises (the "Premises").

         2. The Tenant is not in default under any aspect of the Lease.

         3. The fixed monthly rent and all other obligations payable under the
         terms of the Lease have been paid through the date of this document.

         4. Tenant has been in occupancy and paying rent under the Lease since
         the term commenced on April 1, 1997. The Lease shall terminate on March
         31, 2002.

         5. The Tenant has no obligation to pay for any further improvements
         with respect to the Premises.

         6. The Lease and all of the Tenant's rights thereunder shall remain in
         full force and effect following any assignment of the Tenant's interest
         in the Lease to TVRAI, to which assignment Landlord hereby consents.

         7. Landlord is not the subject of any bankruptcy, insolvency, debtor's
         relief, reorganization, receivership or similar proceedings.


                  DATED this _______ day of June, 2000.




                                             By:
                                                Benevento Realty Corp., Landlord


<PAGE>


                              CONSENT TO ASSIGNMENT
                              ---------------------


RE:                        Lease Dated:     September 1, 1998
                           Landlord:        Ron De, Inc.
                           Tenant:          Luisilenia Rivera



         As the Landlord of the lease described below, the undersigned hereby
acknowledges for the benefit of Talk Visual Retail Acquisition, Inc. ("TVRAI"),
the truth and accuracy of the following statements:

         1. A true and correct copy of the lease described above and all
         amendments, and other related documents are attached as Exhibit "A"
         (together referred to as the "Lease"). The Lease is in full force and
         effect. There are no other agreements with anyone that relate to or
         affect the leased premises (the "Premises").

         2. The Tenant is not in default under any aspect of the Lease.

         3. The fixed monthly rent and all other obligations payable under the
         terms of the Lease have been paid through the date of this document.

         4. Tenant has been in occupancy and paying rent under the Lease since
         the term commenced on September 1, 1998. The Lease shall terminate on
         August 31, 2003.

         5. The Tenant has no obligation to pay for any further improvements
         with respect to the Premises.

         6. The Lease and all of the Tenant's rights thereunder shall remain in
         full force and effect following any assignment of the Tenant's interest
         in the Lease to TVRAI, to which assignment Landlord hereby consents.

         7. Landlord is not the subject of any bankruptcy, insolvency, debtor's
         relief, reorganization, receivership or similar proceedings.


                  DATED this _______ day of June, 2000.




                                                       By:
                                                         Ron De, Inc., Landlord



© 2022 IncJournal is not affiliated with or endorsed by the U.S. Securities and Exchange Commission