Extract to table

The purpose of this letter is to summarize the post-closing obligations that must be completed by August 30, 2024 — that is, within fourteen (14) days after the Closing Date — as required by Section 7

Item 7 — IP Security Agreement: USCO Recordation (Copyright) Status: In Progress In addition to the USPTO recordations described above, a short-form copyright security agreement must be recorded with the United States Copyright Office (the "USCO") to perfect the Lender's security interest in the Company's registered copyrights

The compliance certificate must be signed by the Chief Financial Officer of the Company and must include detailed calculations demonstrating the Company's compliance with each of the following three financial covenants: (a) Minimum Liquidity (Section 9

The Company must maintain unrestricted cash and cash equivalents of not less than $15,000,000 at all times, tested as of the last day of each calendar month

Total Funded Debt, minus unrestricted cash and cash equivalents (capped at $20,000,000 for purposes of this calculation), divided by trailing twelve-month Adjusted EBITDA, shall not exceed 3

Adjusted EBITDA, minus Unfinanced Capital Expenditures, divided by Fixed Charges (defined to include scheduled principal payments, cash interest expense, cash taxes paid, and restricted payments made during the measurement period), shall not be less than 1