Document:

Guaranty Agreement dated August 14, 2006

 Exhibit 10.25 
 GUARANTY AGREEMENT 
 This GUARANTY AGREEMENT (the “Agreement”), dated August 14, 2006,
is executed and delivered by ROBERT ALBRITTON, an individual (“Albritton”) (the “Guarantor”), in favor of TELETOUCH COMMUNICATIONS, INC., a Delaware corporation (“Teletouch”).

 BACKGROUND 
 A.
Teletouch Paging, LP, a Texas Limited Partnership(“TLP”) and Teletouch are parties to an Asset Purchase Agreement, dated August 22, 2005 (“Asset Purchase Agreement”), pursuant to which Teletouch has agreed to
convey, among other assets, certain lease agreements (“Leases”) to TLP as set forth in the Asset Purchase Agreement. 
 B.
Pursuant to the Asset Purchase Agreement, TLP will assume all the obligations pursuant to the Leases and TLP has agreed to arrange for the Leases to be assigned to TLP. 
 C. The parties acknowledge that all of the Leases will not be assigned to TLP prior to the closing of the Asset Purchase Agreement. 
 D. Albritton is the Chairman of TLP. 
 E. As a material inducement to Teletouch to enter into the Asset
Purchase Agreement, the Guarantor has agreed to execute and deliver this Agreement guaranteeing the Obligations (as defined herein) of TLP, if TLP does not honor the Obligations. 
 F. The Guarantor has determined that the execution, delivery and performance of this Agreement directly benefits and is in the best interest of the
Guarantor. 
 NOW, THEREFORE, in consideration of the foregoing promises and of the mutual covenants and agreements set forth herein, the
Guarantor, intending to be legally bound hereby, agrees as follows: 
 1. Definitions. Capitalized terms used, but not otherwise
defined in this Agreement shall have the meanings given to such terms in the Asset Purchase Agreement, to the extent such terms are defined therein. In addition, the following terms shall have the meanings set forth below, unless the context
requires otherwise. 
 (a) “Obligations” shall mean all liabilities, obligations, covenants, promises, agreements and
undertakings which relate in any way to the Leases, whether direct or indirect, absolute or contingent, due or to become due, now existing or hereafter arising. 
 2. Guaranty. Guarantor hereby irrevocably, absolutely and unconditionally guarantees the full and prompt payment and performance of all of the Obligations and any subsequent amendments, extensions or
consolidations thereof. The amount of this guaranty is unlimited. 

 3. Suretyship. The obligations of Guarantor under this Agreement are primary, absolute,
independent, irrevocable and unconditional. This Agreement shall be an agreement of suretyship as well as guaranty. Teletouch may proceed directly against Guarantor whenever TLP fails to make any payment, or otherwise fails to perform any obligation
now or hereafter owed to Teletouch, only after taking all necessary legal and any other processes possible to collect from TLP.. 
 4.
Continuing Guaranty. This Agreement is a continuing guarantee and shall remain in full force and effect until the indefeasible payment of the Obligations in full. It shall continue to be effective and shall be reinstated if at any time any
payment of any of the Obligations is rescinded or must otherwise be returned by Teletouch, pursuant to a court order or otherwise, upon the insolvency, bankruptcy or reorganization of TLP, all as though such payment had not been made. 
 5. No Waiver by Teletouch; Cumulative Rights. No failure on the part of Teletouch to exercise, and no delay in exercising, any right, remedy or
power hereunder shall operate as a waiver thereof, nor shall any single or partial exercise by Teletouch of any right, remedy or power hereunder preclude any other or future exercise of any other right, remedy or power. Each and every right, remedy
and power granted to Teletouch hereunder or by any other agreement, or granted in law or at equity, shall be cumulative and not exclusive of any other right, remedy or power set forth herein. No waiver of any provision of this Agreement and no
consent to any departure therefrom shall in any event be effective unless the same shall be in writing and signed by the party giving such consent or waiver, and then such waiver consent shall be effective only in the specific instance and for the
specific purpose for which given. 
 6. Modification of Obligations. Teletouch is authorized, without notice to or the consent of
Guarantor, to accept partial payments of the Obligations from TLP, to take and hold security or collateral for the payment and performance of the Obligations and any other guarantees of the Obligations, and to exchange, enforce, waive or release any
such security or collateral. Teletouch may apply any such security or collateral and direct the order or manner of sale thereof, as Teletouch in its discretion may determine, and may settle, release, compromise, collect or otherwise liquidate the
Obligations, any guarantee of the Obligations, and any security or collateral for the Obligations or for any such guarantee in any manner. 
 7. Representations and Warranties of Guarantor. As a material inducement to Teletouch to enter into the Asset Purchase Agreement, Guarantor represents and warrants to Teletouch that: 
 (a) The delivery and performance by Guarantor of this Agreement, and all other documents contemplated hereby (i) have been duly and validly
authorized by all necessary and appropriate proceedings, and (ii) are enforceable against Guarantor in accordance with their terms; 
  

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 (b) No authorization, approval or other action by, and no notice to or filing with, any governmental
authority or regulatory body is required or necessary for the execution, delivery, performance, validity or enforceability of this Agreement by or against Guarantor; 
 (c) There is no action, suit, proceeding or investigation at law or in equity pending or threatened against the Guarantor, before any court or tribunal or before any governmental or administrative body, agency or
official which, if determined against Guarantor, could have a material adverse effect on its financial condition or could in any way impair the validity or enforceability of this Agreement; 
 (d) Guarantor is not presently a debtor in a case or proceeding under Title 11 of the United States Code or under any similar foreign or domestic
statute. 
 8. Subrogation. Until all the Obligations have been paid in full, Guarantor shall have no right of subrogation,
reimbursement or indemnity and no right of recourse to or with respect to any assets or property of TLP. Nothing shall discharge or satisfy the liability of Guarantor hereunder except the full and timely performance and payment of the Obligations.

 9. Validity of Obligations. The obligations of Guarantor under this Agreement shall be unconditional and irrevocable. irrespective
of either (a) (a) any limitation of liability of TLP, or its constituent members, contained in the Asset Purchase Agreement, (b) the existence of any security given to secure the Obligations, (c) impossibility or the illegality
of performance on the part of TLP of its obligations under the Asset Purchase Agreement, (d) TLP’s bankruptcy or similar event, or (e) any other circumstances, occurrences or conditions which might otherwise constitute a legal or
equitable defense, discharge or release of Guarantor. 
 10. Independent Investigation. Guarantor acknowledges that it is fully aware
of the financial condition of TLP. Guarantor delivers this Agreement based solely upon its own independent investigation and in no part upon any representations or statements of Teletouch with respect thereto or with respect to the Obligations as
they may now or hereafter exist. Guarantor hereby assumes full responsibility for obtaining, from time to time, any additional information concerning TLP’s financial condition as Guarantor may deem material and Guarantor is not relying upon nor
expecting Teletouch to furnish it with any information in Teletouch’s possession concerning TLP’s financial condition or the Obligations. Teletouch has no duty to inform Guarantor, now or at any time hereafter, as to any facts concerning
TLP or the Leases. Guarantor acknowledges that no representations or any kind whatsoever have been made by Teletouch to Guarantor. 
 11.
Successors; Assignment. This Agreement shall be binding upon Guarantor, its heirs, personal representatives, administrators, legal representatives, successors and permitted assigns and it shall inure to the benefit of, and be enforceable by,
Teletouch, its successors, endorsees and assigns, and any person who shall from time to time be the owner or holder of the Obligations. Guarantor may not assign or transfer its rights or obligations under this Agreement without the prior written
consent of Teletouch. 
  

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 12. Costs and Expenses of Enforcement. Guarantor agrees to pay all of Teletouch’s costs of
enforcing the terms and conditions of this Agreement, whether prior to or following the entry of judgment, at any time incurred, and including, but not limited to, reasonable attorneys’ fees. 
 13. Indemnification. Guarantor agrees to indemnify and hold Teletouch harmless from and against all costs, damages, expenses, causes of action,
claims, losses and liabilities incurred by or threatened against Teletouch which in any way grow out of, result from, or relate to this Agreement including, without limitation, any action to enforce this Agreement, except claims, law suits or
liabilities resulting from the gross negligence or willful misconduct of Teletouch. 
 14. Consent to Jurisdiction and Venue.
Guarantor hereby consents and submits to personal jurisdiction within the State of Texas for purposes of any litigation arising under or relating to this Agreement and agrees that service of process may be made, and personal jurisdiction over
Guarantor obtained, by serving a copy of any summons and complaint upon Guarantor at the notice address set forth this Agreement and in accordance with the applicable laws of the State of Texas. Guarantor hereby agrees that any action, suit or
proceeding to enforce this Agreement may be brought in any state or federal court in Fort Worth, Texas and Guarantor hereby waives any objections which it may have to the laying of the venue of any such action, suit or proceeding in any such court.
Nothing herein contained, however, shall prevent Teletouch from bringing any action or exercising any right against any security or against Guarantor personally, or against any property of Guarantor within any other jurisdiction or state.

 15. Miscellaneous. 
 (a) Controlling Law. This Agreement and all questions relating to its validity, interpretation, performance and enforcement shall be governed by and construed in accordance with the laws of the State of Texas, notwithstanding any
conflict-of-laws doctrines of such state or other jurisdiction to the contrary, and without the aid of any canon, custom or rule of law requiring construction against the draftsman. 
 (b) Notices. All notices, requests, demands and other communications required or permitted under this Agreement shall be in writing and shall be
deemed to have been duly given, made and received: (x) when delivered, if made by hand delivery; (y) two days following the day when deposited with an overnight courier service such as Federal Express, for the delivery to the intended
addressee; or (z) two days following the day when deposited in the United States mails, first class postage prepaid, addressed as set forth below: 
 (i) If to Guarantor: 
  

					
	 Robert Albritton

	
	  

	
	  

	
	  

  

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		 	with a copy to:	 	
		 		 	  

			
		 		 	  

			
		 		 	  

			
		 		 	  

			
	(ii)  	 	If to Teletouch:	 	Teletouch Communications, Inc.
		 		 	5718 Airport Freeway
		 		 	Fort Worth, Texas 76117
		 		 	Fax – (817) 654-6220
		 		 	Attention: Thomas A. Hyde, Jr.
			
		 	with a copy to:	 	
			
		 		 	  

			
		 		 	  

			
		 		 	  

			
		 		 	  

 No notice to counsel shall constitute notice to a party. Any party may alter the address to which communications
or copies are to be sent by giving notice of such change of address in conformity with the provisions of this paragraph for the giving of notices. 
 (c) Execution in Counterparts. This Agreement may be executed in any number of counterparts, each of which shall be deemed to be an original as against any party whose signature appears thereon, and all of which shall together
constitute one and the same instrument. This Agreement shall become binding when one or more counterparts hereof, individually or taken together, shall bear the signatures of all of the parties reflected hereon as the signatories. 
 (d) Provisions Separable. The provisions of this Agreement are independent of and separable from each other, and no provision shall be affected or
rendered invalid or unenforceable by virtue of the fact that for any reason any other or others of them may be invalid or unenforceable in whole or in part. 
 (e) Entire Agreement. This Agreement contains the entire understanding among the parties hereto with respect to the subject matter hereof, and supersedes all prior and contemporaneous agreements and
understandings, inducements or conditions, express or implied, oral or written, except as herein contained. The express terms hereof control and supersede any course of performance and/or usage of the trade inconsistent with any of the terms hereof.

 (f) Paragraph Headings. The paragraph headings in this Agreement are for convenience only; they form no part of this Agreement and
shall not affect its interpretation. 
  

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 (g) Gender, Etc. Words used herein regardless of the number and gender specifically used shall be
deemed and construed to include any other number, singular or plural, and any other gender, masculine, feminine or neuter, as the contest requires. 
 IN WITNESS WHEREOF, the Guarantor has executed and delivered this Agreement on the date first above written. 
  

			
	ROBERT ALBRITTON
	(Guarantor)
		
	By:	 	 /s/ Robert Albritton

  

 - 6 -General Security Agreement dated August 14, 2006

 Exhibit 10.26 
 GENERAL SECURITY AGREEMENT 
 SECURITY AGREEMENT, dated as of August 14, 2006, between
TELETOUCH PAGING, LP, a Texas Limited Partnership (“TLP”) (the “Obligor”) and TELETOUCH COMMUNICATIONS, INC., a Delaware corporation (“Teletouch” or the “Secured Party”);

 W I T N E S S E T H : 
 WHEREAS, TLP and Teletouch are parties to an Asset Purchase Agreement, dated August 22, 2005, as amended, (the “Asset Purchase
Agreement”), pursuant to which Teletouch has agreed to convey, among other assets, certain lease agreements (“Leases”) to TLP as set forth in the Asset Purchase Agreement; and 
 WHEREAS, pursuant to the Asset Purchase Agreement, TLP will assume all the obligations pursuant to the Leases and TLP has agreed to arrange for the
Leases to be assigned to TLP; 
 WHEREAS, the parties acknowledge that all of the Leases will not be assigned to TLP prior to the closing of
the Asset Purchase Agreement; 
 WHEREAS, it is a condition to the willingness of Teletouch to enter into the Asset Purchase Agreement that
the Obligor enter into this Agreement and grant to Teletouch the security interest provided; 
 NOW, THEREFORE, FOR VALUE RECEIVED, IT IS
AGREED: 
 Section 1. Terms. Unless otherwise defined herein, capitalized terms used in this Agreement shall have the meaning
specified therefor in the Asset Purchase Agreement. As used herein the following terms shall have the meanings specified and shall include in the singular number the plural and in the plural number the singular: 
 “Assigned Agreements” shall mean all contracts and agreements of the Obligor. 
 “Collateral” means all of the Obligor’s right, title and interest in and under or arising out of each and all of the following:

 All personal property and fixtures of the Obligor of any type or description, wherever located and now existing or hereafter arising or
acquired, including but not limited to the following: 
  

	 	(i)	all of the Obligor’s goods including, without limitation: 

 (a) all inventory, including without limitation, equipment held for lease, whether raw materials, in
process or finished, all material or equipment usable in processing the same and all documents of title covering any inventory (all of the foregoing, “Inventory”). 
 (b) all equipment (the “Equipment”), excluding automobiles, employed in connection with the Obligor’s business, together with all
present and future additions, attachments and accessions thereto and all substitutions therefor and replacements thereof. 
  

	 	(ii)	all of the Obligor’s present and future accounts, accounts receivable, general intangibles, contracts and contract rights (herein sometimes referred to as
“Receivables”), including but not limited to the Obligor’s rights (including rights to payment) under all Assigned Agreements, together with 

 (a) all claims, rights, powers or privileges and remedies of the Obligor relating thereto or arising in connection therewith including, without
limitation, all rights of the Obligor to make determinations, to exercise any election (including, but not limited to, election of remedies) or option or to give or receive any notice, consent, waiver or approval, together with full power and
authority to demand, receive, enforce, collect or receipt for any of the foregoing or any property which is the subject of the Assigned Agreements, to enforce or execute any checks, or other instruments or orders, to file any claims and to take any
action which (in the opinion of the Secured Party) may be necessary or advisable in connection with any of the foregoing, 
 (b) all liens,
security, guaranties, endorsements, warranties and indemnities and all insurance and claims for insurance relating thereto or arising in connection therewith, 
 (c) all rights to property forming the subject matter of the Receivables including, without limitation, rights to stoppage in transit and rights to returned or repossessed property, 
 (d) all writings relating thereto or arising in connection therewith including without limitation, all notes, contracts, security agreements, guaranties,
chattel paper and other evidence of indebtedness or security, all powers-of-attorney, all books, records, ledger cards and invoices, all credit information, reports or memoranda and all evidence of filings or registrations relating thereto,

  

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 (e) all catalogs, computer and automatic machinery software and programs, and the like pertaining to
operations by the Obligor in, on or about any of its plants or warehouses, all sales data and other information relating to sales or service of products now or hereafter manufactured on or about any of its plants, and all accounting information
pertaining to operations in, on or about any of its plants, and all media in which or on which any of the information or knowledge or data is stored or contained, and all computer programs used for the compilation or printout of such information,
knowledge, records or data, and 
 (f) all accounts, contract rights, general intangibles and other property rights of any nature whatsoever
arising out of or in connection with the foregoing, including without limitation, payments due and to become due, whether as repayments, reimbursements, contractual obligations, indemnities, damages or otherwise; 
  

	 	(iii)	patents, patent applications, copyrights and intellectual property of all description; 

  

	 	(iv)	all other personal property of the Obligor of any nature whatsoever, including, without limitation, all accounts, deposits, credit balances, contract rights, inventory, general
intangibles, goods, equipment, instruments, chattel paper, machinery, furniture, furnishings, fixtures, tools, supplies, appliances, plans and drawings, together with all customer and supplier lists and records of the business, and all property from
time to time described in any financing statement (UCC-1) signed by the Obligor naming the Secured Party as secured party; and 

  

	 	(v)	all additions, accessions, replacements, substitutions or improvements and all products and proceeds including, without limitation, proceeds of insurance, of any and all of the
Collateral described in clauses (i) through (iii) above. 

 “Instrument” shall have the meaning
specified in Article 3 of the Uniform Commercial Code, as in effect from time to time in the State of Texas and shall also include any other writing which evidences a right to the payment of money and is not itself a security agreement or lease and
is of a type which is in the ordinary course of business transferred by delivery with any necessary endorsement or assignment. 
  

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 “Lien” means any mortgage, pledge, hypothecation, assignment, security interest, deposit
arrangement, encumbrance (including any easement, right of way, zoning restriction and the like), lien (statutory or other) or preference, priority or other security agreement or preferential arrangement of any kind or nature whatsoever (including
any conditional sale or other title retention agreement, any financing lease involving substantially the same economic effect as any of the foregoing and the filing of any financing statement under the Uniform Commercial Code or comparable law of
any jurisdiction). 
 “Permitted Liens” means: 
 (a) Liens for taxes, assessments or other governmental charges or levies not at the time delinquent or thereafter payable without penalty
or being contested in good faith by appropriate proceedings and for which adequate reserves in accordance with generally accepted accounting principles shall have been set aside on its books; 
 (b) Liens of carriers, warehousemen, mechanics, materialmen and landlords incurred in the ordinary course of business for sums not overdue
or being contested in good faith by appropriate proceedings and for which adequate reserves shall have been set aside on its books; 
 (c) Liens (other than Liens arising under the Employee Retirement Income Security Act of 1974, as amended, or Section 412(n) of the Internal Revenue Code of 1986, as amended) incurred in the ordinary course of business in connection
with workers’ compensation, unemployment insurance or other forms of governmental insurance or benefits, or to secure performance of tenders, statutory obligations, leases and contracts (other than for borrowed money) entered into in the
ordinary course of business or to secure obligations on surety or appeal bonds; 
 (d) ground leases in respect of real
property on which facilities owned or leased by the Obligor or any of its subsidiaries are located; 
 (e) any interest or
title of a lessor secured by a lessor’s interest under any lease of real property on which facilities owned or leased by the Obligor or any of its subsidiaries are located; 
 (f) any liens set forth on Schedule 2; and 
  

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 (g) any liens securing indebtedness or obligations resulting from the initial borrowings
by TLP from American National Bank and Summitt Bank to purchase the Assets from Teletouch. 
 “Person” means any natural
person, corporation, firm, association, partnership, joint venture, limited liability company, joint-stock company, trust, unincorporated organization, government, governmental agency or subdivision, or any other entity, whether acting in an
individual, fiduciary or other capacity. 
 “Receivables” has the meaning specified therefor in clause (ii) of the
definition of Collateral. 
 “Secured Obligations” means all liabilities, obligations, covenants, promises, agreements and
undertakings which relate in any way to the Leases, whether direct or indirect, absolute or contingent, due or to become due, now existing or hereafter arising. 
 Section 2. Security Interests. As security for the payment and performance of all Secured Obligations, the Obligor does hereby grant and assign to the Secured Party, a continuing security interest
subordinated to the security interest of American National Bank and Summitt Bank in all of the Collateral, whether now existing or hereafter arising or acquired and wherever located, subject to the priority, if any, of Permitted Liens. 

Section 3. General Representations, Warranties and Covenants. The Obligor represents, warrants and covenants, which representations,
warranties and covenants shall survive execution and delivery of this Agreement, as follows: 
 (a) This Agreement is made with full recourse
to the Obligor and pursuant to and upon all the warranties, representations, covenants, and agreements on the part of the Obligor contained herein, in the Asset Purchase Agreement and otherwise made in writing in connection herewith or therewith.

 (b) Except for the security interest of the Secured Party and the Permitted Liens, the Obligor is, and as to Collateral acquired from time
to time after the date hereof the Obligor will be, the owner of all the Collateral free from any lien, security interest, encumbrance or other right, title or interest of any Person (other than Permitted Liens) and the Obligor shall defend the
Collateral against all claims and demands of all Persons at any time claiming the same or any interest therein adverse to the Secured Party. 
 (c) There is no financing statement other than the Permitted Liens (or similar statement or instrument of registration under the law of any jurisdiction) now on file or registered in any public office covering any interest of any kind in
the Collateral, or intended to cover any such interest, which has not been terminated or released by the secured party named 
  

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 therein and so long as any of the Secured Obligations remain unpaid, the Obligor will not execute and there will not be
on file in any public office any financing statement (or similar statement or instrument of registration under the law of any jurisdiction) or statements relating to the Collateral, except (i) financing statements filed or to be filed in
respect of and covering the security interest of the Secured Party hereby granted and provided for and (ii) with respect to Permitted Liens. 
 (d) The chief executive office and chief place of business of the Obligor is located at the address of the Obligor listed on the signature page hereof, and the Obligor will not move its chief executive office and chief place of business
without providing prior written notice to the Secured Party of not less than 30 days. The originals of all Assigned Agreements and all documents (as well as all duplicates thereof) evidencing all Receivables and all other contract rights or accounts
and other property of the Obligor and the only original books of account and records of the Obligor relating thereto are, and will continue to be, kept at such chief executive office, or at such new location as the Obligor may establish 

(e) The name of the Obligor is as set forth on the signature page hereto and the Obligor shall not change such name, conduct its business in any
other name or take title to the Collateral in any other name while this Agreement remains in effect, without providing the Secured Party no less than 30 days notice and making such filings as the Secured Party shall reasonably request. The Obligor
has never had any name, or conducted business under any name in any jurisdiction, other than its name set forth on the signature page hereto. 
 (f) At the Obligor’s own expense, the Obligor will: (i) keep the Collateral fully insured at all times with financially sound and responsible insurance carriers against loss or damage by fire and other risks, casualties and
contingencies and in such manner and to the same extent that like properties are customarily so insured by other entities engaged in the same or similar businesses similarly situated and keep adequate insurance at all times against liability on
account of damage to persons and properties and under all applicable workers’ compensation laws, (ii) upon request by the Secured Party, promptly deliver the insurance policies or certificates thereof to the Secured Party, and
(iii) keep the Collateral in good condition at all times (normal wear and tear excepted) and maintain same in accordance with all manufacturer’s specifications and requirements. 
 (g) The Obligor will not use the Collateral in violation of any statute or ordinance or applicable insurance policy and will promptly pay all taxes and
assessments levied against the Collateral. 
 (h) The Obligor will not sell, transfer, change the registration, if any, dispose of, attempt
to dispose of, substantially modify or abandon the Collateral or any part thereof other than sales of Inventory in the ordinary course of business and the disposition of obsolete or worn-out Equipment in the ordinary course of business. 

 

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 (k) (i) The Obligor will indemnify and hold the Secured Party harmless from and against any loss,
liability, damage, costs and expenses whatsoever arising from the Obligor’s use, operation, ownership or possession of the Collateral or any part thereof. 
 (j) The Obligor will not enter into any agreement that is inconsistent with the Obligor’s obligations under this Agreement. 
 (k) If the Obligor transfer any assets to any subsidiary or affiliate now existing or hereafter formed, before so doing, it shall cause such person to sign a guaranty and security agreement covering the secured
obligations. 
 Section 4. Special Provisions Concerning Assigned Agreements. The Obligor represents, warrants and agrees as
follows: 
 (a) The Assigned Agreements constitute the legal, valid and binding obligations of the Obligor and, to the best of its knowledge,
the other parties thereto, enforceable in accordance with their respective terms. 
 (b) The Obligor will use its best efforts to faithfully
abide by, perform and discharge each and every material obligation, covenant and agreement to be performed by the Obligor under the Assigned Agreements. 
 (c) The Obligor will not modify, amend or agree to vary any of the Assigned Agreements in any material respect other than in the ordinary course of business, or otherwise act or fail to act in a manner likely
(directly or indirectly) to entitle any party thereto to claim that the Obligor is in default under the terms thereof. 
 (d) The Obligor
will appear in and defend every action or proceeding arising under, growing out of or in any manner connected with the Assigned Agreements or the obligations, duties or liabilities of the Obligor and any assignee thereunder. 
 (e) Should the Obligor fail to make any payment or to do any act as herein provided after 15 day’s notice by the Secured Party, the Secured Party
may (but without obligation on the Secured Party’s part to do so and without notice to or demand on the Obligor and without releasing the Obligor from any obligation hereunder) make or do the same in such manner and to such extent as the
Secured Party may deem necessary to protect the security interests provided hereby, including specifically, without limiting the general powers, the right to appear in and defend any action or proceeding purporting to affect the security interests
provided hereby and the Obligor, and the Secured Party may also perform and discharge each and every 
  

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 obligation, covenant and agreement of the Obligor contained in any Assigned Agreement and, in exercising any such powers,
pay necessary costs and expenses, employ counsel and incur and pay reasonable attorneys’ fees. 
 (f) Upon the request of the Secured
Party, the Obligor will send to the Secured Party copies of all notices, documents and other papers furnished or received by it with respect to any of the Assigned Agreements. 
 Section 5. Special Provisions Concerning Equipment. The Obligor will do nothing to impair the rights of the Secured Party in the Equipment.
The Obligor shall cause the Equipment to at all times constitute and remain personal property. The Obligor will at all times keep all Equipment insured with financially responsible insurance companies in favor of the Secured Party, at the expense of
the Obligor, against such perils and in such amounts as are customary for Persons in the same general line of business as the Obligor and operating in similar geographic locations and markets. If the Obligor shall fail to insure the Equipment to the
Secured Party’s reasonable satisfaction, or if the Obligor shall fail so to endorse and deposit all policies or certificates with respect thereto, the Secured Party shall have the right (but shall be under no obligation) to procure such
insurance and the Obligor agrees to reimburse the Secured Party for all costs and expenses of procuring such insurance, together with interest at a rate per annum equal to 18% (or the maximum rate permitted by law). 
 Section 6. Special Provisions Concerning Remedies and Sale. In addition to any rights and remedies now or hereafter granted under applicable
law and not by way of limitation of any such rights and remedies, upon the occurrence of an Event of Default the Secured Party shall have all of the rights and remedies of a secured party under the Uniform Commercial Code as enacted in any
applicable jurisdiction in addition to the rights and remedies provided herein, in the Asset Purchase Agreement and in any other agreement executed in connection therewith whereby the Obligor has granted any Lien to the Secured Party. Without in any
way limiting the foregoing, Secured Party may pursue any one or all of the following or any other remedies: 
 (a) Upon the occurrence of an
Event of Default, the Secured Party shall have all of the rights and remedies of a secured party under the Uniform Commercial Code as enacted in any applicable jurisdiction in addition to the rights and remedies provided herein, in the Asset
Purchase Agreement and any other document whereby the Obligor has granted any Lien to the Secured Party. The Secured Party shall have the right, without further notice to, or assent by, the Obligor, in the name of the Obligor or in the name of the
Secured Party or otherwise: 
 (i) to ask for, demand, collect, receive, compound and give acquittance for the Receivables or
any part thereof; 
  

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 (ii) to extend the time of payment of, compromise or settle for cash, credit or
otherwise, and upon any terms and conditions, any of the Receivables; 
 (iii) to endorse the name of the Obligor on any
checks, drafts or other orders or instruments for the payment of moneys payable to the Obligor which shall be issued in respect of any Receivable; 
 (iv) to file any claims, commence, maintain or discontinue any actions, suits or other proceedings deemed by the Secured Party necessary or advisable for the purpose of collecting or enforcing payment of any
Receivable; 
 (v) to make test verifications of the Receivables or any portion thereof; 
 (vi) to notify any or all account Obligors under any or all of the Receivables to make payment thereof directly to the Secured Party for
the account of the Secured Party and to require the Obligor to forthwith give similar notice to the account Obligors; 
 (vii)
to require the Obligor forthwith to account for and transmit to the Secured Party in the same form as received all proceeds (other than physical property) of collection of Receivables received by the Obligor and, until so transmitted, to hold the
same in trust for the Secured Party and not commingle such proceeds with any other funds of the Obligor; 
 (viii) to take
possession of any or all of the Collateral and, for that purpose, to enter, upon reasonable notice, with the aid and assistance of any Person or Persons and with or without legal process, any premises where the Collateral, or any part thereof, are,
or may be, placed or assembled, and to remove any of such Collateral; 
 (ix) to execute any instrument and do all other
things necessary and proper to protect and preserve and realize upon the Collateral and the other rights contemplated hereby; 
 (x) upon reasonable notice to such effect, to require the Obligor to deliver, at the Obligor’s expense, any or all Collateral to the Secured Party at a place designated by the Secured Party; and 
 (xi) without obligation to resort to other security, at any time and from time to time, to sell, re-sell, assign and deliver all or any of
the Collateral, in one or more parcels at the same or different times, and all right, title and interest, claim and demand therein and right of redemption thereof, at public or private 
  

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 sale, for cash, upon credit or for future delivery, and at such price or prices and on such terms as the
Secured Party may determine, with the amounts realized from any such sale to be applied to the Secured Obligations in the manner determined by the Secured Party. 
 The Obligor hereby agrees that all of the foregoing may be effected without demand, advertisement or notice (except as otherwise provided herein or as may be required by law), all of which (except as otherwise provided) are hereby expressly
waived, to the extent permitted by law. The Secured Party shall not be obligated to do any of the acts hereinabove authorized, but in the event that the Secured Party elects to do any such act, the Secured Party shall not be responsible to the
Obligor except for its gross negligence or willful misconduct. 
 Section 7. Application of Moneys. All moneys which the Secured
Party shall receive, in accordance with the provisions hereof, shall be applied (to the extent thereof) to the payment of all Secured Obligations in such order as the Secured Party may determine. 
 (b) If after applying any amounts which the Secured Party has received in respect of the Collateral any of the Secured Obligations remain unpaid, the
Obligor shall continue to be liable for any deficiency, together with interest. 
 Section 9. Fees and Expenses, etc. Any and all
fees, costs and expenses of whatever kind or nature, including but not limited to the reasonable attorneys’ fees and legal expenses incurred by the Secured Party in connection with the enforcement of this Agreement, the filing or recording of
any documents (including all taxes in connection therewith) in public offices, the payment or discharge of any taxes, counsel fees, maintenance fees, fees and other costs relating to the encumbrances or otherwise protecting, maintaining, preserving
the Collateral, or in defending or prosecuting any actions or proceedings arising out of or related to the Collateral, shall be borne and paid by the Obligor on written demand by the Secured Party setting forth in reasonable detail the nature of
such expenses and until so paid shall be added to the principal amount of the Secured Obligations and shall bear interest at a rate per annum equal to 18% (or the maximum permitted by law). In addition, the Obligor will pay, and indemnify and hold
the Secured Party harmless from and against, any and all liabilities, obligations, losses, damages penalties, actions, judgments, suits, costs, expenses or disbursements of any kind or nature whatsoever with respect to the Collateral, including
(without limitation) claims of patent or trademark infringement and any claim of unfair competition or anti-trust violation. 
 Section 10. Miscellaneous. All notices, communications and distributions hereunder shall be in writing (including telecopied communication) and mailed by certified mail, telecopied, personally delivered or delivered by Federal
Express or other reputable overnight courier service, if to the Obligor addressed to it at its address set forth opposite its signature below, if to the Secured Party, addressed to it at its address set forth opposite its signature below, or as to
either party at such other address as shall be designated by such party in a written notice 
  

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 to such other party complying as to delivery with the terms of this Section. All such notices and other communications
shall be effective (i) if mailed by certified mail, three days after the date of deposit thereof with the U.S. Postal Service, properly addressed with postage prepaid, (ii) if telecopied, upon receipt by the addressee, (iii) if
personally delivered, upon such delivery and (iv) if delivered by overnight courier service, on the business day following delivery thereof to such courier service in time for next-business-day delivery. 
 (b) No delay on the part of the Secured Party in exercising any of its rights, remedies, powers and privileges hereunder or partial or single exercise
thereof, shall constitute a waiver thereof, except if, and in such case only to the extent which, such failure prejudices or damages the Obligor. None of the terms and conditions of this Agreement may be changed, waived, modified or varied in any
manner whatsoever unless in writing duly signed by the Obligor and the Secured Party. No notice to or demand on the Obligor in any case shall entitle the Obligor to any other or further notice or demand in similar or other circumstances or
constitute a waiver of any of the rights of the Secured Party to any other or further action in any circumstances without notice or demand. 
 (c) The obligations of the Obligor hereunder shall remain in full force and effect without regard to, and shall not be impaired by, (i) any bankruptcy, insolvency, reorganization, arrangement, readjustment, composition, liquidation or
the like of the Obligor; or (ii) any exercise or non-exercise, or any waiver of, any right, remedy, power or privilege under or in respect of the Leases or this Agreement. or (iii) any amendment to or modification of any of the foregoing;
whether or not the Obligor shall have notice or knowledge of any of the foregoing. The rights and remedies of the Secured Party herein provided are cumulative and not exclusive of any rights or remedies which the Secured Party would otherwise have.

 (d) This Agreement shall be binding upon the Obligor and its successors and assigns and shall inure to the benefit of the Secured Party
and its successors and assigns, except that the Obligor may not transfer or assign any of its obligations, rights or interest hereunder without the prior written consent of the Secured Party, and any such purported assignment by the Obligor shall be
void. All agreements, representations and warranties made herein shall survive the execution and delivery of this Agreement. 
 (e) The
descriptive headings of the several sections of this Agreement are inserted for convenience only and shall not in any way affect the meaning or construction of any provision of this Agreement. 
 (f) Any provision of this Agreement which is prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent
of such prohibition or unenforceability without invalidating the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction.

  

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 (g) All rights, remedies and powers provided by this Agreement may be exercised only to the extent that
the exercise thereof does not violate any applicable provision of law, and the provisions hereof are intended to be subject to all applicable mandatory provisions of law that may be controlling and to be limited to the extent necessary so that they
will not render this Agreement invalid, unenforceable in whole or in part or not entitled to be recorded, registered or filed under the provisions of any applicable law. 
 (h) Except to the extent that matters of title, or creation, perfection and priority of the security interests created hereby, or procedural issues of foreclosure are required to be governed by the laws of the state
in which the Collateral, or part thereof, is located, this Agreement shall be governed by the laws of the State of Texas as applied to contracts entered into and to be performed entirely within the State of Texas. EACH PARTY HERETO KNOWINGLY,
VOLUNTARILY AND INTENTIONALLY WAIVES ANY AND ALL RIGHTS IT MAY HAVE TO A TRIAL BY JURY IN ANY ACTION, PROCEEDING, COUNTERCLAIM OR OTHER LITIGATION BASED ON, OR ARISING OUT OF, UNDER, OR IN CONNECTION WITH, THIS AGREEMENT, OR ANY FINANCING DOCUMENT,
OR ANY COURSE OF CONDUCT, COURSE OF DEALING, STATEMENTS (WHETHER ORAL OR WRITTEN) OR ACTIONS OF ANY SUCH PARTY. THIS PROVISION IS A MATERIAL INDUCEMENT FOR THE SECURED PARTY’S ENTERING INTO THIS AGREEMENT. 
 (i) It is expressly agreed, anything herein, in the Asset Purchase Agreement or in any other agreement or instrument executed in connection with the
Asset Purchase Agreement to the contrary notwithstanding, that the Obligor shall remain liable to perform all of the obligations, if any, assumed by it with respect to the Collateral and the Secured Party shall not have any obligations or
liabilities with respect to any Collateral by reason of or arising out of this Agreement, nor shall the Secured Party be required or obligated in any manner to perform or fulfill any of the obligations of the Obligor under or pursuant to any or in
respect of any Collateral. 
 (j) This Agreement may be executed in any number of counterparts and by the different parties hereto on
separate counterparts, each of which when so executed and delivered shall be an original, but all of which counterparts taken together shall be deemed to constitute one and the same instrument. 
  

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 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed and delivered by their
duly authorized officers as of the date first above written. 
  

							
	Address:	 		 	TELETOUCH PAGING, L.P.
		 		 	as Obligor
				
	  
	 		 	By:	 	 /s/ Robert Albritton

	  
	 		 	Name:	 	Robert Albritton
	  
	 		 	Title:	 	Managing Member
			
		 		 	 TELETOUCH COMMUNICATIONS, INC
 as Secured
Party

	5718 Airport Freeway	 		 		 	
	Fort Worth, Texas 76117	 		 	By:	 	 /s/ Thomas A. Hyde, Jr.

	Fax - (817) 654-6220	 		 	Name:	 	Thomas A. Hyde, Jr.
		 		 	Title:	 	Chief Executive Officer

  

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