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EXHIBIT 10.91
July 17, 1998
Xx. Xxx Xxxxx
0000 Xxxxx Xxxx, X.X.
Atlanta, Georgia 30324
RE: Extension of Letter of Agreement dated July 17, 1997
Dear Xxx,
Let this letter confirm that the due date for any and all monies payable
under the above-referenced Agreement (attached hereto as Exhibit "A") has been
extended to April 17, 1999. All other terms and conditions of said Agreement
remain in full force and effect.
Accepted and Agreed to by:
American Artists Film Corporation
/s/ Xxxxxx X. Xxxxx
---------------------------------
Xxxxxx X. Xxxxx, CEO
/s. Xxx Xxxxx
---------------------------------
Xx. Xxx Xxxxx
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EXHIBIT 10.91
AMERICAN ARTISTS FILM CORPORATION
--------------------------------------------------------------------------------
1245 Xxxxxx Street, N.W. - Atlanta, GA 30318 - (000)000-0000 - FAX (000)000-0000
EXHIBIT "A"
July 17, 1997
Xx. Xxx Xxxxx
0000 Xxxxx Xxxx, X.X.
Atlanta, Georgia 30324
Re: LETTER OF AGREEMENT
This letter will confirm the terms and conditions of an unsecured revolving
line of credit, in the amount of $100,000, established in favor of American
Artists Film Corporation ("AAFC"). Borrowings may be made under this agreement
for a period of 365 days, however, any remaining outstanding amounts, with
interest, will be due and payable no later than July 17, 1998. Interest,
calculated at the prime rate plus 1%, will be due and payable on a monthly
basis, no later than the 15th day of each month.
This Letter of Agreement sets forth the terms of this agreement in its
entirety.
Accepted and Agreed to by:
American Artists Film Corporation
/s/ Xxxxxx X. Xxxxx
---------------------------------
Xxxxxx X. Xxxxx, Chairman and CEO
/s/ Xx. Xxx Xxxxx
---------------------------------
Xx. Xxx Xxxxx
