Common use of Liability as Guarantor Clause in Contracts

Liability as Guarantor. If, at the time of sale, the vendor is liable or responsible as a guarantor for any debts, liabilities or obligations of the Corporation or any Subsidiary, the purchaser shall use reasonable efforts to cause all such guarantees to be released at or before the time of sale.

Liability as Guarantor. If, If at the time of sale, the vendor is Vendor shall be liable or responsible as a guarantor for any debts, liabilities or obligations of the Corporation or any SubsidiaryCorporation, the purchaser Purchaser shall use reasonable its best efforts to cause any and all such guarantees to be released at on or before the time date of saleclosing 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.