Common use of Parent Guarantees Clause in Contracts

Parent Guarantees. Simultaneously with the execution and delivery of this Agreement, (a) Buyer will cause a parent entity reasonably acceptable to Seller to execute and deliver to Seller an unconditional guaranty of Buyer’s obligations to Seller, substantially in the form of Exhibit B to this Agreement (the “Buyer Parent Guarantee”), and (b) Seller will cause a parent entity reasonably acceptable to Buyer to execute and deliver to Seller an unconditional guaranty of Seller’s obligations to Buyer, substantially in the form of Exhibit C to this Agreement (the “Seller Parent Guarantee”).