Personal Guarantees. The Company shall indemnify and hold harmless the Executive for any liability incurred by him/her by reason of his/her execution of any personal guarantee for the Company’s benefit (including but not limited to personal guarantees in connection with office or equipment leases, commercial loans or promissory notes).
Personal Guarantees. The Cooperative may require, prior to accepting an application for service from an entity, personal guarantees of payment from the owners of the entity.
Personal Guarantees. Company agrees that following the termination of employment, any and all personal guarantees provided by Executive for the Company shall be removed or replaced by the Company within 15 business days.
Personal Guarantees. If Your Licensed Business is owned by a business entity, each individual owner, partner, shareholder, member, and owner managers respectively, who own a five percent (5%) or greater interest, must each personally sign an agreement not to compete with the Licensed Business.
Personal Guarantees. If Borrower becomes insolvent or generally fails to pay off the Loan, or becomes unable to remit payments as they become due, or refuses to remit any payment as it becomes due; the officers of the Borrower shall undertake personal liability for the repayment of the Loan and the Interest in due manner in accordance with the terms of this Agreement.
Personal Guarantees. Sysorex shall indemnify and hold harmless the Employee for any liability incurred by him by reason of his execution of any personal guarantee for the benefit of Sysorex or SGS (including but not limited to personal guarantees in connection with office or equipment leases, commercial loans or promissory notes).
Personal Guarantees. To the extent that the Executive has personally guaranteed any credit card or other debt of the Company (including obligations relating to Midwest Renewable Energy LLC), the Company will use its commercially reasonable efforts to extinguish these guarantees either through the full payment of the obligation and/or the negotiation of payment terms that will eliminate the Executive’s guarantee of such indebtedness.
Personal Guarantees. Section 6.6 of the Company Disclosure Schedule provides for a list of the obligations of Company which are guaranteed by the Sellers or any Seller Owner (“Personal Guarantees”). Purchaser will use commercially reasonable efforts to substitute a corporate guaranty of Purchaser or another reasonable substitute in place of such Personal Guarantees to be effective on the Closing Date. In the event that any such Personal Guarantee cannot be replaced by a corporate guaranty of Purchaser or such other reasonable substitute, then Purchaser shall indemnify any Losses incurred by the guarantors relating to the fulfillment of the Personal Guarantees following the Closing in respect of matters that arose post Closing only.
Personal Guarantees. Holders of at least a 20 percent ownership interest generally must guarantee the loan. SBA, in its discretion, consulting with the Participating Lender, may require other appropriate individuals to guar- xxxxx the loan as well, except SBA will not require personal guarantees from those owning less than 5% ownership.
Personal Guarantees. If, at the Time of Closing, the Vendor and/or the person who Controls the Vendor has guaranteed to anyone any debts, liabilities or other obligations of the Corporation, the Corporation and the remaining Shareholders shall take all steps to ensure that all personal guarantees made in connection with the Corporation be cancelled or cause to be cancelled at the Time of Closing. If that is not possible, the Purchaser shall provide the Vendor and/or the person who Controls the Vendor a complete indemnity against any and all costs which the Vendor and/or the person who Controls the Vendor may incur with respect to that guarantee (including, without limitation, fees for professional advisors, such as legal fees incurred in connection with the exercise of the indemnity).
