GUARANTY
Exhibit
99.11
GUARANTY
For
valuable consideration, the receipt and sufficiency of which is hereby
ack-nowl-edged, Xxxxxxxxxx Holdings I, Inc., a Delaware corporation
(“Guarantor”), hereby unconditionally and irrevocably guarantees to Cornell
Capital Partners, LP (“Cornell”), the payment by Global Defense Corporation, a
Delaware corporation (“GDC”), of GDC’s obligations to make a payment in the
amount of one hundred seventy five thousand dollars ($175,000) pursuant to
a
certain settlement and release agreement dated January , 2006, among Cornell,
GDC and Xxxx X. Xxxxxxxxx.
The
obligations of Guarantor shall not be impaired, diminished or discharged, in
whole or in part, by any extension of time granted by the Cornell, by any course
of dealing between the Cornell and GDC, or by the unenforceability of GDC’s
obligations, in whole or in part, for any reason whatsoever.
In
the
event that Cornell commences litigation against the Guarantor in order to
enforce its rights under this Guaranty, Guarantor shall be liable for all
reasonable costs and expenses of collection, including, without limitation,
reasonable attorneys' fees and expenses.
This
Guarantee shall be governed by and construed in accordance with the laws of
the
State of New Jersey applicable to contracts made and to be performed entirely
within such State without regard to principles of conflicts of law. IN
ANY SUCH ACTION, GUARANTOR WAIVES ANY RIGHT TO A TRIAL BY
JURY
IN
WITNESS WHEREOF, Xxxxxxxxx has executed this Guaranty this th day of January,
2006.
XXXXXXXXXX HOLDINGS I, INC. | ||
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By: | /s/ | |
Xxxx
X. Xxxxxxxxx, President and CEO
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