Attached files
Exhibit 10.8
AFFIRMATION
OF GUARANTEE
This
AFFIRMATION OF GUARANTEE is made as of May 11, 2018
(“Affirmation”), by the undersigned guarantor
(“Guarantor”) for the benefit of AVIDBANK
(“Bank”).
RECITALS
LightPath
Technologies, Inc. and ISP Optics Corporation (together,
“Borrower”) and Bank are parties to that certain Second
Amended and Restated Loan and Security Agreement dated as of
December 21, 2016 and as amended from time to time (the
“Agreement”). In connection therewith, Guarantor
executed for the benefit of Bank an Unconditional Guaranty dated as
of September 30, 2013 (the “Guarantee”). Borrower and
Bank propose to enter into an amendment of the Agreement on or
around date herewith (the “Amendment”), provided, that
Guarantor consents to the Amendment and agrees that the Guarantee
will remain effective.
AGREEMENT
NOW,
THEREFORE, Guarantor agrees as follows:
1. Guarantor
consents to the execution, delivery and performance by Borrower of
the Amendment and the documents and instruments executed in
connection therewith.
2. Guarantor
confirms that, as of the date hereof, Guarantor has no defenses
against its obligations under the Guarantee.
3. The
Guarantee is and shall remain in full force and effect with respect
to Borrower’s Obligations and otherwise and hereby is
ratified and confirmed in all respects.
4. Unless
otherwise defined, all capitalized terms in this Affirmation shall
be as defined in the Guarantee.
5. In
the event that any signature is delivered by facsimile transmission
or by e-mail delivery of a “.pdf” format data file,
such signature shall create a valid and binding obligation of the
party executing (or on whose behalf such signature is executed)
with the same force and effect as if such facsimile or
“.pdf” signature page were an original
hereof.
[signature page follows]
IN
WITNESS WHEREOF, the undersigned has executed this Affirmation of
Guaranty as of the first date above written.
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GUARANTOR:
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GELTECH
INC.
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By:
/s/ J. James
Gaynor____________________
Name:__J.
James Gaynor__________________
Title
:_President and Chief
Executive Officer__
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