Common use of Lease Guarantees Clause in Contracts

Lease Guarantees. (a) Limited shall continue to guarantee the full amount of lease payments under each Guaranteed Lease until any of the following occurs in respect of a Guaranteed Lease: (i) the initial Lease Term in respect of such Guaranteed Lease (excluding any renewals or extensions thereunder) expires, or such Guaranteed Lease earlier terminates according to its terms; (ii) the first day on which such Guaranteed Lease is amended, extended or renewed; or (iii) the first day on which the landlord under such Guaranteed Lease consents to any amendment to or waiver under the Guaranteed Lease (other than any consent, amendment or waiver relating to the spin-off of Too, Inc. on the Distribution Date). Upon the earliest occurrence of any of the preceding with respect to any Guaranteed Lease, Limited's guarantee obligations in respect of such Guaranteed Lease shall immediately cease, and such lease shall be deemed to have been deleted from SCHEDULE 2 hereto. (b) Limited shall have no obligation to provide any guarantee or other assurance for any lease entered into, modified or amended by Too, Inc. after the Distribution Date.

Lease Guarantees. (a) Limited shall continue to guarantee the full amount of lease payments under each Guaranteed Lease until any of the following occurs in respect of a Guaranteed Lease: (i) the initial Lease Term in respect of such Guaranteed Lease (excluding any renewals or extensions thereunder) expires, or such Guaranteed Lease earlier terminates according to its terms; (ii) the first day on which such Guaranteed Lease is amended, extended or renewed; or (iii) the first day on which the landlord under such Guaranteed Lease consents to any amendment to or waiver under the Guaranteed Lease (other than any consent, amendment or waiver relating to the spin-off of Too, Inc. on the Distribution Date). Upon the earliest occurrence of any of the preceding with respect to any Guaranteed Lease, Limited's guarantee obligations in respect of such Guaranteed Lease shall immediately cease, and such lease shall be deemed to have been deleted from SCHEDULE Schedule 2 hereto. (b) Limited shall have no obligation to provide any guarantee or other assurance for any lease entered into, modified or amended by Too, Inc. after the Distribution Date.