Guaranty Termination. Written revocation or termination of any Guaranty, other than as a result of a Guarantor ceasing its existence in connection with a transaction permitted by Section 8.19;
Guaranty Termination. Default under, revocation of, or termination of any Guaranty.
Guaranty Termination. Xx. Xxxx and the Lender are parties to that certain Limited Guaranty Agreement, dated May 20, 2019 (the “Deng Guaranty”). Subject to the terms and conditions of this Agreement, the Lender shall accept $2,000,000.00 paid in immediately available funds (the “Payment Amount”) as payment in full of the Guaranteed Obligations (as defined in the Deng Guaranty) owed by Xx. Xxxx to the Lender under the Deng Guaranty; provided that (a) $1,000,000.00 of the Payment Amount is paid on or before April 7, 2021 (the “Deng Payment”); and $1,000,000.00 of the Payment Amount is paid on or before September 30, 2021. Provided that the Payment Amount is timely paid in full, the Guaranteed Obligations will be paid and satisfied in full, and the Deng Guaranty shall terminate pursuant to Section 6.7 thereof, and subject to Section 2.7 thereof, Xx. Xxxx shall have no further obligations, duties, or liabilities thereunder. Each installment of the Payment Amount shall be paid either (a) directly by Xx. Xxxx from his personal funds; or (b) by iFresh after receipt of an equity contribution or unsecured subordinated indebtedness in an amount equal to such installment from Xx. Xxxx from his personal funds. The Loan Parties shall provide the Lender with reasonable evidence of the source of any installment payment of the Payment Amount. The Lender shall apply the Payment Amount to the Obligations as follows: (a) first, to accrued, unpaid, and past due interest at the Stated Rate, if any; (b) second, to past due principal payments, if any; and (c) finally, to the outstanding principal balance of the Loans in such order and manner as determined by the Lender in its sole discretion.
Guaranty Termination. Reference is made to that certain Guaranty dated as of August 25, 2005 by Xxxxx Interests Limited Partnership (“Guarantor”), a Delaware limited partnership, in favor of Tenant (as amended, the “Guaranty”). Pursuant to Section 19 of the Guaranty, Tenant acknowledges and agrees that the Guaranty is hereby terminated and of no further force or effect, and that Guarantor is hereby released from all of Guarantor’s Obligations and Liabilities thereunder. Nothing contained in the foregoing shall be deemed to release Landlord from (or to terminate) any of the obligations or liabilities of Landlord under the Lease (including this Amendment).
Guaranty Termination. The guaranty set forth on page 31 of the Lease is hereby terminated.
Guaranty Termination. At closing, CellStar will execute and deliver a Termination of Guaranty Agreement, having the form and containing the terms and conditions described in Exhibit E hereto, terminating the covenants and obligations of Xxxx, Inc., a Florida corporation, contained in that certain Guaranty Agreement effective as of October 10, 1997.
