PDS Gaming Corporation Announces Receipt of $9,500,000 Financing Commitment - 2004-02-06
PDS Gaming Corporation, a company that finances, leases and sells gaming equipment to the casino industry, today revealed the receipt of a financing commitment from Cochran Road, LLC, a New York-based lender, in a top principal amount of $9.5 million.
Pursuant to the terms of the commitment letter agreement between the Company and Cochran, Cochran has committed, subject to the satisfaction on or before June 30, 2004 of each of the conditions precedent set forth in the Commitment Letter, including, without limitation, the satisfactory completion by Cochran of its due diligence review and the negotiation and execution of definitive documentation satisfactory to Cochran and the Company, to provide to the Company a senior secured term loan for a term of five years in the maximum principal amount of $9.5 million.
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