Release of Certain Guarantees. Seller and Seller Parties shall have caused the removal of:
(i) J & S Audio Visual Communications, Inc. as a guarantor of the mortgage held by Comerica Bank on the real property covered by the Office Lease;
(ii) J & S Audio Visual Communications, Inc. as a guarantor of certain obligations to North Texas Certified Development Corp.;
(iii) the Company as a guarantor of certain obligations to North Texas Certified Development Corp.;
(iv) the termination or release of J&S Audiovisual Communications, Inc. as a party to that certain Authorization of Debenture Guarantee with North Texas Certified Development Corp. and JS Royal Lane Owner LLC.
Release of Certain Guarantees. At or prior to closing, Buyer shall use its reasonable efforts to obtain releases of the Shareholder from any guarantees which it may have entered into with respect to obligations of the Company, and if unable to obtain the release of the Shareholder, the Buyer agrees to indemnify it from any claim arising from circumstances after the Closing with respect to such guarantees.
Release of Certain Guarantees. On the Closing Date Buyer shall grant or obtain a full and complete release from personal guarantees by each of Xxxxxxx Xxxxx and Xxxxxxx Xxxxx as guarantor for any liability for the Company, which guarantees are more fully described on Section 5.12 of the Disclosure Schedule.
Release of Certain Guarantees. 82 SECTION 9.15. Partners ................................................... 83 SECTION 9.16. Calculations; Computations; Interpretation ................. 83
Release of Certain Guarantees. (a) Any TWE Partner Guarantee, any TWEAN Holder Guarantee and the TWE Guarantee may be released without the consent of any Lender if (i) the Guarantor thereof shall no longer hold any Material Beneficial Assets (or in the case of TWE, any TWEAN Beneficial Assets), (ii) such Guarantor shall not be in breach of its Guarantee, (iii) no Default shall have occurred and be continuing, (iv) such Guarantee is not, by operation of Section 5.13, required to be in effect and (v) no Obligations with respect to principal or interest are then due and owing by such Guarantor. Such release shall in all respects be subject to any reinstatement provisions set forth in such Guarantee. TWE or TWEAN, as the case may be, shall notify the Administrative Agent upon any such release, and the Administrative Agent shall notify the Lenders of such release. Nothing in this Section 9.14 shall prohibit the merger or consolidation of any TWE Partner Guarantor with or into any other Person so long as, after giving effect to such merger or consolidation on a pro forma basis, (x) no Default shall have occurred and be continuing and (y) the representations and warranties set forth in Section 3.13 shall be true and correct.
(b) The Paragon Guarantee may be released without the consent of any Lender at such time as Paragon shall become substantially wholly-owned by TWIC if (i) Paragon shall no longer hold any TWEAN Material Beneficial Assets, (ii) such Paragon Guarantee is not, by operation of Section 5.13, required to be in effect, and (iii) no Obligations with respect to principal or interest are then due and owing by Paragon.
Release of Certain Guarantees. Following the Second Closing, Hanaro shall (a) exert its reasonable efforts to terminate and release outstanding personal guarantees of Yong Xxx Xxx and Hong Soon Xxx (collectively, "Guarantors") that have been provided in respect of the Indebtedness of the Company; (b) cause the Company not to increase the amount of Indebtedness of the Company that is secured by any such personal guarantee; and (c) in the event any Indebtedness of the Company secured by any such personal guarantee is rolled over or the maturity of such Indebtedness is otherwise extended, procure the termination and release of all guarantee obligations of the Guarantors regarding such Indebtedness.
Release of Certain Guarantees. Upon the satisfaction of the conditions to the effectiveness of this Agreement set out in Section 5.1, the Lenders (in their capacity as Lenders under the Credit Agreement and as parties to any Swap Agreement entered into by any of the Lenders or their Affiliates) and Royal, in its capacity as Working Capital Lender by executing this Agreement, confirm that each of the Guarantees dated April 5, 2004 executed by the Trust and ARC Petroleum are released concurrently with this Agreement becoming effective.
Release of Certain Guarantees. Section 9.08 of the Credit Agreement shall be amended by deleting the text before "(ii)" and replacing it with the following: "TWE, TW Holding (other than in its capacity as a Subsidiary Guarantor) or any TWE Partner Guarantor, TW Holding Partner Guarantor, Holder Guarantor, holder of TWEAN Material Beneficial Assets or New Holder Guarantor may, without the consent of any Lender, be released from its Guarantee if (i) such Guarantor shall not hold any Material Beneficial Assets or any New Beneficial Assets (or in the case of any TWE Partner Guarantor, none of its Subsidiaries that issued a Holder Guarantee shall hold any Material Beneficial Assets)," and by deleting from the third sentence thereof "TWE or TWEAN, as the case may be," and replacing it with "The Borrowers".
Release of Certain Guarantees. 3.1 Schedule A attached hereto, includes a complete and correct list of all indebtedness, leases and other liabilities and obligation of the Company which have been previously guaranteed by Digi as of the date of this Agreement.
3.2 Digi shall be released by the Company from its obligation under the 1997 Documents to guarantee the obligation of the Company to Carlton Corporation, Koll Xxxl Estate Company, and Central Computer Systems Inc.
3.3 In the case of the Company's obligations to Sanwa Leasing Corporation, Digi's guarantee shall remain in place, but shall be subordinated to the guarantee of a third party mutually agreed upon by the Parties (the "Third Party").
Release of Certain Guarantees. Acquiror shall use reasonable efforts to have the personal guarantees of Xxx Xxxxxx and Xxxx Xxxxxx released on or before the first anniversary of the Effective Date.
