GUARANTY OF LEASE OBLIGATIONS. The Guaranty of Lease Obligations of even date executed by Guarantor in favor of Lessor, relating to the Lease Obligations.
GUARANTY OF LEASE OBLIGATIONS. Guarantor hereby absolutely and unconditionally guarantees the prompt payment and performance in full of all of the Lease Obligations as and when the respective parts thereof become due and payable. If any Guaranty Enforcement Event shall occur or the Lease Obligations, or any part thereof, shall not be paid in full when due and payable, or performed in full when performance is due, Landlord shall have the right to proceed directly against Guarantor under this Agreement to collect and obtain the payment and performance in full of the Lease Obligations, regardless of whether or not Landlord shall have theretofore proceeded or shall then be proceeding against Tenant or any other Obligor or collateral, if any, or any of the foregoing, it being understood that Landlord, in its sole discretion, may proceed against any Obligor and any collateral and may exercise each right, power or privilege that Landlord may then have at such time or times and as often and in such order as Landlord, in its sole discretion, may from time to time deem expedient to collect the payment in full, and to enforce full performance, of the Lease Obligations.
GUARANTY OF LEASE OBLIGATIONS. All of the Lease Obligations (including Lease Obligations arising under any Schedule that has been assigned pursuant to Section 19 hereof) shall be guaranteed by each of Lessee’s Restricted Subsidiaries and each additional Person that shall, from time to time, become a guarantor of such Lease Obligations (each such Person a “Guarantor”) and shall be evidenced by a Guaranty in the form attached hereto as Exhibit C (a “Guaranty”). At the prior written request of Lessee (which shall be made at least 10 days in advance) and as permitted by the terms of this Agreement, so long as no Event of Default exists or would result therefrom, Lessor shall release the Guaranty of any particular Guarantor under any of the following circumstances: (i) such Guarantor becomes an Unrestricted Subsidiary; and (ii) such Guarantor is liquidated, dissolved or sold to a third party that is not affiliated with Lessee, provided that such liquidation, dissolution or sale is permitted by the terms and conditions of that certain Amended and Restated Credit Agreement, dated as of December 31, 2003, between Lessee and General Electric Capital Corporation, as agent and lender, as the same may be amended or modified from time to time (and if such Credit Agreement is terminated or replaced at any time, as such Credit Agreement existed immediately prior to such termination or replacement). In addition, at the prior written request of Lessee (which shall be made at least 10 days in advance), so long as no Event of Default has occurred and is continuing, Lessor shall release all Guaranties of each Guarantor; provided, however, that upon the release of the Guaranties by Lessor under the terms and conditions of this sentence, Lessee shall be obligated to increase the Cash Collateral amount to the sum of (1) thirty percent (30%) of the Adjusted Aggregate Stipulated Loss Value with respect to Equipment manufactured by a Person other than an Affiliate of Lessor and (2) twenty percent (20%) of the Adjusted Aggregate Stipulated Loss Value with respect to Equipment manufactured by an Affiliate of Lessor.
GUARANTY OF LEASE OBLIGATIONS. On the Closing Date, the Parent shall provide a guaranty in the form of agreement attached hereto as exhibit 6.15, pursuant to which the Parent will guaranty the obligations of the Company under the real property leases described on Schedule 4.16 (the “Guaranty”).
GUARANTY OF LEASE OBLIGATIONS. Parent agrees to guaranty the punctual payment and performance of any and all liabilities and obligations of RLI and its subsidiaries owed to RLH Partnership and its partners and affiliates, and all of such person's officers, directors, employees, shareholders and agents, and any of the foregoing's successors and assigns (collectively, the "Indemnified Parties"), arising out of or related to the Master Lease (the "Obligations").
GUARANTY OF LEASE OBLIGATIONS. Parent agrees to guaranty the punctual payment and performance of any and all liabilities and obligations of RLI owed to RLH Partnership and its partners and affiliates, and all of such person's officers, directors, employees, shareholders and agents, and any of the foregoing's successors and assigns (collectively, the "Indemnified Parties") under the Master Lease (the "Obligations"). Parent hereby waives diligence, presentment, demand of payment, notice of dishonor or nonpayment, protest and notice of protest of any such Obligation, suit or taking other action by the Indemnified Parties against, and giving any notice of default or other notice to, or making any demand on, RLI or its subsidiaries with respect to the Obligations. Parent's guaranty is a guarantee of payment and not of collection only, is a primary obligation and is an absolute, unconditional, continuing and irrevocable guaranty of performance and payment. To the extent enforceable by law, Parent will not assert, plead or enforce against the Indemnified Parties any defense of waiver, release, discharge or disallowance in bankruptcy, anti-deficiency statute, or unenforceability which may be available to Parent. The liability of Parent under this Guaranty shall not be affected or impaired by any voluntary or involuntary liquidation, dissolution, sale or other disposition of all or substantially all the assets, marshaling of assets and liabilities, receivership, insolvency, bankruptcy (including any rejection of the Master Lease in such bankruptcy), assignment for the benefit of creditors, reorganization arrangement, composition or readjustment of, or other similar event or proceeding affecting RLI or any of its subsidiaries of any of their respective assets including, without limitation, any foreclosure by any mortgagees of the tenant under the Master Lease of the tenant's interest, if any, in any of the Retained Hotels, as tenant under the Master Lease. If any payment by Parent to any Indemnified Party on account of the Obligations is rescinded, invalidated, set aside or must otherwise be returned to Parent, RLI, the estate or trustee of either, or to any other person, for any reason whatsoever, Parent shall remain liable hereunder for the Obligations as if such payment had not been made.
GUARANTY OF LEASE OBLIGATIONS. The Guaranty of Lease Obligations dated September 15, 1998 among Promus Hotels, Inc., Purchaser and Seller and Guaranty of Lease Obligations dated September 15, 1998 among Promus Hotel Corporation, Purchaser and Seller. Guarantor: Red Lion Hotels Corporation.
GUARANTY OF LEASE OBLIGATIONS. The Guaranty of Lease Obligations dated September 15, 1998 among Promus Hotels, Inc., Tenant and Seller and Guaranty of Lease Obligations dated September 15, 1998 among Promus Hotel Corporation, Tenant and Seller. Hazardous Materials: (1) any substance or material defined as or included in the definition of one or more of any of the following: “hazardous materials,” “hazardous waste,” “hazardous substance,” “regulated substance,” “toxic substance,” “pollutant,” “contaminant,” “radioactive material,” or any other similar designation in, or otherwise subject to regulation under an Environmental Law, (2) any oil, petroleum, petroleum fraction or petroleum derived substance, (3) any flammable substance or explosive, (4) asbestos in any form, (5) polychlorinated biphenyls, (6) urea formaldehyde foam insulation, (7) pesticides, and (8) any other chemical, material or substance, exposure to which is prohibited, limited or regulated under any Environmental Law. Hotel Contracts: To the extent lawfully assignable without penalty or breach, any agreements in the name of the Seller (and all rights of Seller relating thereto) relating solely to the Real Property, including service, maintenance, purchase orders, leases and other contracts or agreements, equipment leases capitalized for accounting purposes, and any amendments thereto, with respect to the ownership, maintenance, operation, provisioning, or equipping of the Real Property, or any of the Property, as well as written warranties and guaranties relating thereto, if any, including, but not limited to, those relating to heating and cooling equipment and/or mechanical equipment, provided they are listed in a schedule to the Assignment and Assumption Agreement.
GUARANTY OF LEASE OBLIGATIONS. This Guaranty of Lease Obligations (this "Guaranty") is made and entered into as of the 15th day of September, 1998 by and among Promus Hotels, Inc., a Delaware corporation (" Parent "), Red Lion Hotels, Inc., a Delaware corporation ("RLI "), and RLH Partnership, L. P., a Delaware limited partnership ("RLH Partnership").
GUARANTY OF LEASE OBLIGATIONS. Guarantor hereby unconditionally and irrevocably guarantees the prompt payment by Tenant of all rentals and all other sums payable by Tenant under the Lease and the faithful and prompt performance by Tenant of each and every of the terms, conditions and covenants of the Lease to be kept and performed by Xxxxxx. All such indebtedness and obligations will be performed and payable by Guarantor to Landlord immediately on demand in the event of any default by Tenant with respect to the obligations or indebtedness or any part thereof. All payments shall be made to Landlord in lawful money of the United States without setoff, deduction or counterclaim. The liability of Guarantor on this Guaranty is a guaranty of payment and performance and not of collectability, and is not conditional or contingent on the genuineness, validity, regularity, or enforceability of the Lease or the pursuit by Landlord of any remedies that it now has or may hereafter have with respect thereto.
