Common use of Guaranty Release Clause in Contracts

Guaranty Release. ▇▇▇▇▇ shall use its best efforts to obtain a release of the guaranties of ▇▇▇▇▇▇▇▇ and ▇▇▇▇▇ in respect of (i) the $1,000,000 unsecured line of credit with ▇▇▇▇▇ Fargo Bank, N.A., (ii) the equipment lines of credit with ▇▇▇▇▇ Fargo Bank, N.A., and (iii) the SunTrust Bank guarantee relating to the Fabrica factoring agreement; provided that in the event that ▇▇▇▇▇ is unable to obtain such releases, ▇▇▇▇▇ agrees to indemnify and hold ▇▇▇▇▇▇▇▇ and ▇▇▇▇▇ harmless from any liability in respect thereof.

Guaranty Release. ▇▇▇▇▇ shall use its best efforts to obtain attain a release of the guaranties of ▇▇▇▇▇▇▇▇ and ▇▇▇▇▇ in respect of (i) the $1,000,000 unsecured line of credit with ▇▇▇▇▇ Fargo Bank, N.A., (ii) the equipment lines of credit with ▇▇▇▇▇ Fargo Bank, N.A., and (iii) the SunTrust Bank guarantee relating to the Fabrica factoring agreement; provided that in the event that ▇▇▇▇▇ is unable to obtain such releases, ▇▇▇▇▇ agrees to indemnify and hold ▇▇▇▇▇▇▇▇ and ▇▇▇▇▇ harmless from any liability in respect thereof.