EXHIBIT 10.70
GUARANTY SUPPLEMENT
Pursuant to a Waiver and Consent Agreement dated June 17, 1993 among
Xxxxxx X. Xxxxxxx, Xxxxxx Xxxxxxx Xxxxxx, Xxxxx X. Xxxxxxx, and HOB
Entertainment, Inc. ("Consent Agreement"), the undersigned has guaranteed
payment of all royalties due to Xxxxxxx and Xxxxxx ("Obligations") under the
Licensing Agreement (the "Guaranty"). For valuable consideration, the
undersigned agrees as follows:
1. All capitalized terms not defined herein shall have the
meanings ascribed to them in the Consent Agreement.
2. The undersigned agrees to pay any and all expenses (including,
without limitation, all reasonable fees and disbursements of counsel) which may
be paid or incurred by Xxxxxxx and Xxxxxx in successfully enforcing any rights
under the guaranty. Notwithstanding any payment made by the undersigned on the
guaranty, the undersigned shall not be entitled to be subrogated to any of the
rights of Xxxxxxx and Xxxxxx. The Obligations, the liability of any other party
for the Obligations, or any collateral security or guarantee therefor may
be accelerated, compromised, waived, surrendered or released by Xxxxxxx and
Xxxxxx without notice to or assent of, the undersigned, and the undersigned will
remain obligated hereunder, and the Licensing Agreement, and any other documents
executed and delivered in connection therewith may be amended, modified,
supplemented, or terminated in whole or in part, without notice to, or assent
of, the undersigned, and the undersigned will remain obligated hereunder.
Xxxxxxx and Xxxxxx shall not by any act, delay, indulgence, omission or
otherwise be deemed to have waived any right or remedy hereunder. The
undersigned hereby irrevocably and unconditionally:
(A) SUBMITS FOR ITSELF AND ITS PROPERTY IN ANY LEGAL ACTION
OR PROCEEDING RELATING TO THE GUARANTY TO THE NON-EXCLUSIVE GENERAL JURISDICTION
OF THE MULTNOMAH COUNTY COURT OF OREGON AND APPELLATE COURTS FROM ANY THEREOF,
(B) CONSENTS THAT ANY SUCH ACTION OR PROCEEDING MAY BE
BROUGHT IN SUCH COURTS AND, TO THE EXTENT PERMITTED BY LAW, WAIVES ANY OBJECTION
THAT IT MAY NOW OR HEREAFTER HAVE TO THE VENUE OF ANY SUCH ACTION OR PROCEEDING
IN ANY SUCH COURT OR THAT SUCH ACTION OR PROCEEDING WAS BROUGHT IN AN
INCONVENIENT COURT AND AGREES NOT TO PLEAD OR CLAIM THE SAME; AND
1
(C) AGREES THAT THE GUARANTY SHALL BE GOVERENED BY THE LAWS
OF OREGON.
Dated this 14th day of May, 1998.
HOB ENTERTAINMENT, INC.
By: /s/ [SIGNATURE ILLEGIBLE]
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Title: E.V.P./ Secretary
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