Prime Guaranty Clause Samples
Prime Guaranty. Prime will guarantee all obligations of the Prime Texas Subsidiary with respect to the lease of the Texas Property pursuant to an instrument which contains terms and provisions reasonably satisfactory to Prime, but Prime shall not have reason to object to any terms and provisions which are in the HPT Lease Guaranty unless an objection to such terms and provisions is made in accordance with the provisions of Section 12.1; provided, however, that (i) the liability of Prime thereunder shall be limited to an amount equal to minimum annual rent for the Texas Property for one (1) year, and (ii) Prime shall not be required to deposit a "Guaranty Deposit" in connection with such guaranty.
Prime Guaranty. Prime will guarantee all obligations of the Prime HPT Subsidiary with respect to the lease of the Additional Property pursuant to an amendment to the HPT Lease Guaranty or a separate instrument which contains terms and provisions reasonably satisfactory to Prime, but Prime shall not have reason to object to any terms and provisions which are in the HPT Lease Guaranty unless an objection to such terms and provisions is made in accordance with the provisions of Section 12.1; provided, however, that (i) the liability of Prime thereunder shall be limited to an amount equal to minimum annual rent for the Additional Property for one (1) year, and (ii) Prime shall not be required to increase the HPT Lease Guaranty Deposit pursuant to the HPT Lease Guaranty (as amended in connection with such transaction) or to deposit a "Guaranty Deposit" in connection with a separate guaranty.