RELEASE OF GUARANTY
On January 31, 2016, Liberated Syndication Inc., a Nevada Corporation ("Libsyn"), and FAB Universal Corp., a Colorado Corporation ("FAB") entered into a FORM OF GUARANTY.
WHEREAS, FAB was the Guarantor for a lease located at Xxxxx 000, 00000 Xxxxx Xxxxxx Xxxxxxxxx, Xxx Xxxxxxx, Xxxxxxxxxx 00000 (the "Guaranty"); and
WHEREAS FAB’s liability under the Guaranty continued until all rents due under the Guaranty have been paid in full in cash and until all other obligations have been satisfied.
WHEREAS, Libsyn absolutely, presently, continually, unconditionally and irrevocably guaranteed the prompt payment of all rents and all other sums payable under the Guaranty.
NOW, THEREFORE, FAB unconditionally releases Libsyn from any and all obligations from the FORM OF GUARANTY.
IN WITNESS WHEREOF, XXX and Xxxxxx have executed this release of Guaranty as of this 22nd day of May 2017.
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| FAB UNIVERSAL CORP. | |||
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| By: |
| /s/ Xxxxxxxxxxx Xxxxxxx | |
| Name: |
| Xxxxxxxxxxx Xxxxxxx | |
| Title: |
| President and CEO | |
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| By: |
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| Name: |
| Xxxxxxxxxxx Xxxxxxx | |
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| Title: President and CEO | |
