Common use of Liability as Guarantor Clause in Contracts

Liability as Guarantor. If at the time of sale, the Vendor shall be liable or responsible as a guarantor for any debts, liabilities or obligations of the Corporation, the Purchaser shall use its best efforts to cause any and all such guarantees to be released on or before the date of closing and, in the event that the Purchaser shall be unable to deliver up such guarantees, the Purchaser shall indemnify and save harmless the Vendor from all claims arising out of such guarantees.

Liability as Guarantor. If If, at the time of sale, the Vendor shall be vendor is liable or responsible as a guarantor for any debts, liabilities or obligations of the CorporationCorporation or any Subsidiary, the Purchaser purchaser shall use its best reasonable efforts to cause any and all such guarantees to be released on at or before the date time of closing and, in the event that the Purchaser shall be unable to deliver up such guarantees, the Purchaser shall indemnify and save harmless the Vendor from all claims arising out of such guaranteessale.