Release of Personal Guarantees. As of Closing, the Shareholders shall be deemed to be released from any personal guarantees made by such Shareholders with respect to any obligation of the Company. Buyer shall cooperate to have such Shareholders released by the Company's creditors from any such personal guarantees and shall indemnify such Shareholders from any Adverse Consequences (as defined in Section 8.2 hereof) arising from such personal guarantees, provided that such Adverse Consequences do not arise as a result of any default prior to the Closing Date by any such Shareholder under such personal guarantee.
Release of Personal Guarantees. The current and long-term indebtedness, the notes payable and the current long-term capitalized leases, with respect to which the Shareholders have personally guaranteed payment or performance, will either be paid off concurrently with the Closing by the Company (or Parent on behalf of the Company), or Parent will take such actions necessary to release Shareholders from such guarantees at or prior to the Closing.
Release of Personal Guarantees. At the Effective Time, Chesapeake shall contribute to Tri-County funds sufficient to pay all indebtedness of Tri-County that has been reasonably incurred in connection with its business and is guaranteed or co-signed by a Shareholder, and Tri- County will immediately use these funds to repay such indebtedness.
Release of Personal Guarantees. Buyer shall use commercially reasonable efforts to cause it to be substituted for Xx. Xxxxx and Xx. Xxx with regard to any personal guarantees that Xx. Xxxxx, Xx. Xxx or both may have executed on behalf of either Acquired Company and to obtain full releases from such personal guarantees for Xx. Xxxxx, Xx. Xxx or both, as the case may be; provided, however, that the existence of the obligation that is subject to such guaranty does not result in a default under this Agreement.
Release of Personal Guarantees. The Members shall have been ------------------------------ released from all personal guarantees to which they are party relating to the Company's operations or the Parent shall have agreed to indemnify the Members for all obligations under such guarantees.
Release of Personal Guarantees. 51 7.9. LEXECON BOARD OF DIRECTORS/OPERATING COMMITTEE..................................51 7.10. DIRECTORS' AND OFFICERS' LIABILITY INSURANCE ...................................52 7.11.
Release of Personal Guarantees. Nextera agrees to use its commercially reasonable efforts (a) to have the Shareholders released from personal guarantees of the obligations of Lexecon (the "Guarantees"), (b) to provide for a replacement Letter of Credit with respect to Lexecon's office lease and (c) to cause to be returned to Lexecon the existing Letter of Credit with respect to Lexecon's office lease.
Release of Personal Guarantees. Purchaser and MMI shall use all best efforts to cause all Personal Guarantees still in existence at the Closing to be released within ninety (90) days thereof. If any such Personal Guarantees are not released within ninety (90) days of the Closing, Purchaser shall indemnify Sellers and hold them harmless for and from any and all claims and any and all losses arising under such Personal Guarantees for obligations under such Personal Guarantees arising because of advances or obligations (including lease payments) arising after the Closing.
Release of Personal Guarantees. On or before the Closing Date, the Vendors shall be released from any and all guarantees of indebtedness or other obligations of third parties or any other commitment by which Cable Systems or the Subsidiaries of Cable Systems are, or are contingently, responsible for such indebtedness or other obligation.
Release of Personal Guarantees. GPI shall use commercially reasonable efforts to have the Stockholders released from the personal guaranties listed on SCHEDULE 8(h); provided, however, that in the event GPI is unable to have such guaranties released, GPI hereby agrees to indemnify the Stockholders from any loss or claim made pursuant to such guaranties.
