Personal Guarantees. The Company shall indemnify and hold harmless the Executive for any liability incurred by him/her by reason of his/her execution of any personal guarantee for the Company’s benefit (including but not limited to personal guarantees in connection with office or equipment leases, commercial loans or promissory notes).
Personal Guarantees. The Cooperative may require, prior to accepting an application for service from an entity, personal guarantees of payment from the owners of the entity.
Personal Guarantees. Company agrees that following the termination of employment, any and all personal guarantees provided by Executive for the Company shall be removed or replaced by the Company within 15 business days.
Personal Guarantees. If Your Licensed Business is owned by a business entity, each individual owner, partner, shareholder, member, and owner managers respectively, who own a five percent (5%) or greater interest, must each personally sign an agreement not to compete with the Licensed Business.
Personal Guarantees. Sysorex shall indemnify and hold harmless the Employee for any liability incurred by him by reason of his execution of any personal guarantee for the benefit of Sysorex or SGS (including but not limited to personal guarantees in connection with office or equipment leases, commercial loans or promissory notes).
Personal Guarantees. If Borrower becomes insolvent or generally fails to pay off the Loan, or becomes unable to remit payments as they become due, or refuses to remit any payment as it becomes due; the officers of the Borrower shall undertake personal liability for the repayment of the Loan and the Interest in due manner in accordance with the terms of this Agreement.
Personal Guarantees. To the extent that the Executive has personally guaranteed any credit card or other debt of the Company (including obligations relating to Midwest Renewable Energy LLC), the Company will use its commercially reasonable efforts to extinguish these guarantees either through the full payment of the obligation and/or the negotiation of payment terms that will eliminate the Executive’s guarantee of such indebtedness.
Personal Guarantees. Section 6.6 of the Company Disclosure Schedule provides for a list of the obligations of Company which are guaranteed by the Sellers or any Seller Owner (“Personal Guarantees”). Purchaser will use commercially reasonable efforts to substitute a corporate guaranty of Purchaser or another reasonable substitute in place of such Personal Guarantees to be effective on the Closing Date. In the event that any such Personal Guarantee cannot be replaced by a corporate guaranty of Purchaser or such other reasonable substitute, then Purchaser shall indemnify any Losses incurred by the guarantors relating to the fulfillment of the Personal Guarantees following the Closing in respect of matters that arose post Closing only.
Personal Guarantees. Huffman, Shafai, and Kaski, jointly and severally (“Guarantors”), hereby absolutely, irrevocably, and unconditionally guaranty the obligations, liabilities, and responsibilities of Developer within this Agreement. Guarantors agree to be jointly and severally liable for dedication of the right of way in accordance with this Agreement and for the design and construction of all public improvements required by this Agreement. Guarantors agree that it shall not be necessary for City, in order to enforce performance by Guarantors of the obligations under the Agreement (“Guarantied Obligations”), to first institute suit or exhaust its remedies against Developer or to enforce its rights against any property or other security which shall ever be given to secure performance of the Guarantied Obligations. If the Developer and Personal Guarantors fail in any obligation in this Agreement, City may draw on any surety provided by Developer or Personal Guarantors to complete the obligation itself or City may exercise any other rights or remedies available under this Agreement or under the law. Guarantors agree to pay, on demand, all reasonable attorney’s fees and other costs and expenses which may be incurred by City in the enforcement of this Guaranty, including any costs and attorney’s fees to condemn and/or otherwise obtain right of way through the Property if Developer and Guarantors fail to dedicate the right of way. Any provisions of this Guaranty which are prohibited or unenforceable under applicable law shall be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof. This Guaranty remains in effect until Final Acceptance of all improvements has occurred, or all obligations in this Agreement are complete, whichever is latest. To the fullest extent permitted by law, Guarantors waive all right to require presentment, protest, or demand of City; notice of default; notice of presentment, dishonor, protest, or demand; and notice of acceptance of this Guaranty. Guarantors further consent and agree that, without notice to or by Guarantors and without affecting or impairing the obligations of Guarantors hereunder, City may, by action or inaction, compromise, settle, extend the duration or the time for performance of, or discharge the performance of, or may refuse to or otherwise not enforce the Guarantied Obligations.
Personal Guarantees. UAG will use reasonable efforts to cause the Stockholders to be released from any and all personal guarantees of any loans, leases or other indebtedness of the Companies set forth on the Company Financial Statements (the "Personal Guarantees"). In the event that any of the Personal Guarantees are not released by the Closing, UAG will indemnify and hold the Stockholders harmless from any loss with respect to the Personal Guarantees which arises after the Closing. Notwithstanding anything in this Section to the contrary, UAG shall not be required to cause the Stockholders to be released from or indemnify the Stockholders for any loss with respect to any Personal Guarantees for any loans or other indebtedness relating to the Real Property owned by the Stockholders or their Affiliates.
