Common use of Guarantee Amount Clause in Contracts

Guarantee Amount. The Guarantee Amount at any given time shall be equal to the aggregate sum of $3,000,000.00 minus the total of all payments theretofore made by the Authority under this Guarantee. Upon any payment by the Authority under this Guarantee, the Guarantee Amount shall be immediately and automatically reduced by the amount of such payment, except that the Guarantee Amount may be reinstated as provided in Section 9 hereof. NOTWITHSTANDING THE FOREGOING, THE GUARANTEE AMOUNT SHALL AUTOMATICALLY REDUCE TO ZERO AND THIS GUARANTEE SHALL TERMINATE ON MARCH 1, 1999, UNLESS PRIOR TO SUCH DATE LENDER HAS DELIVERED TO THE AUTHORITY UNDER SECTION 9 HEREOF A NOTICE OF DEFAULT OR A NOTICE THAT BORROWER HAS FAILED TO MAKE A PAYMENT UNDER THE LENDER LOAN DOCUMENTS ON DEMAND OF LENDER." 2.3. Section 13 of the Guarantee Agreement, entitled "Fees and Expenses of Authority", shall be amended to provide that the following fees are to be paid by the Borrower to the Authority on or before the date of this Fourth Amendment: (i) a pro-rated commitment fee, extension fee and penalty fee in the aggregate amount of $8,750.00, and (ii) reimbursement of all reasonable legal fees and expenses incurred by the Authority in connection with this Fourth Amendment.

Guarantee Amount. The Guarantee Amount at any given time shall be equal to the aggregate sum of $3,000,000.00 minus the total of all payments theretofore made by the Authority under this Guarantee. Upon any payment by the Authority under this Guarantee, the Guarantee Amount shall be immediately and automatically reduced by the amount of such payment, except that the Guarantee Amount may be reinstated as provided in Section 9 hereof. NOTWITHSTANDING THE FOREGOING, THE GUARANTEE AMOUNT SHALL AUTOMATICALLY REDUCE TO ZERO AND THIS GUARANTEE SHALL TERMINATE ON MARCH 1APRIL 30, 1999, UNLESS PRIOR TO SUCH DATE LENDER HAS DELIVERED TO THE AUTHORITY UNDER SECTION 9 HEREOF A NOTICE OF DEFAULT OR A NOTICE THAT BORROWER HAS FAILED TO MAKE A PAYMENT UNDER THE LENDER LOAN DOCUMENTS ON DEMAND OF LENDER." 2.3. Section 13 of the Guarantee Agreement, entitled "Fees and Expenses of Authority", shall be amended to provide that the following fees are to be paid by the Borrower to the Authority on or before the effective date of this Fourth Sixth Amendment: (i) a pro-rated commitment fee, extension fee and penalty fee in the aggregate amount of $8,750.00, and (ii) reimbursement of all reasonable legal fees and expenses incurred by the Authority in connection with this Fourth Sixth Amendment.

Guarantee Amount. The Guarantee Amount at any given time shall be equal to the aggregate sum of $3,000,000.00 minus the total of all payments theretofore made by the Authority under this Guarantee. Upon any payment by the Authority under this Guarantee, the Guarantee Amount shall be immediately and automatically reduced by the amount of such payment, except that the Guarantee Amount may be reinstated as provided in Section 9 hereof. NOTWITHSTANDING THE FOREGOING, THE GUARANTEE AMOUNT SHALL AUTOMATICALLY REDUCE TO ZERO AND THIS GUARANTEE SHALL TERMINATE ON MARCH 1APRIL 30, 19991998, UNLESS PRIOR TO SUCH DATE LENDER HAS DELIVERED TO THE AUTHORITY UNDER SECTION 9 HEREOF A NOTICE OF DEFAULT OR A NOTICE THAT BORROWER HAS FAILED TO MAKE A PAYMENT UNDER THE LENDER LOAN DOCUMENTS ON DEMAND OF LENDER." 2.3. Section 13 of the Guarantee Agreement, entitled "Fees and Expenses of Authority", shall be amended to provide that the following fees are to be paid by the Borrower to the Authority on or before the date of this Fourth Second Amendment: : (i) a pro-rated commitment fee, extension fee and penalty fee in the aggregate amount of $8,750.00, and (ii) reimbursement of all reasonable legal fees and expenses incurred by the Authority in connection with this Fourth Amendment.of

Guarantee Amount. The Guarantee Amount at any given time shall be equal to the aggregate sum of $3,000,000.00 minus the total of all payments theretofore made by the Authority under this Guarantee. Upon any payment by the Authority under this Guarantee, the Guarantee Amount shall be immediately and automatically reduced by the amount of such payment, except that the Guarantee Amount may be reinstated as provided in Section 9 hereof. NOTWITHSTANDING THE FOREGOING, THE GUARANTEE AMOUNT SHALL AUTOMATICALLY REDUCE TO ZERO AND THIS GUARANTEE SHALL TERMINATE ON MARCH 131, 1999, UNLESS PRIOR TO SUCH DATE LENDER HAS DELIVERED TO THE AUTHORITY UNDER SECTION 9 HEREOF A NOTICE OF DEFAULT OR A NOTICE THAT BORROWER HAS FAILED TO MAKE A PAYMENT UNDER THE LENDER LOAN DOCUMENTS ON DEMAND OF LENDER." 2.3. Section 13 of the Guarantee Agreement, entitled "Fees and Expenses of Authority", shall be amended to provide that the following fees are to be paid by the Borrower to the Authority on or before the effective date of this Fourth Fifth Amendment: (i) a pro-rated commitment fee, extension fee and penalty fee in the aggregate amount of $8,750.00, and (ii) reimbursement of all reasonable legal fees and expenses incurred by the Authority in connection with this Fourth Fifth Amendment.