Common use of Personal Guaranties Clause in Contracts

Personal Guaranties. Options shall attempt to effect the removal of ▇▇▇▇▇▇▇▇ from any and all personal guaranties for vendor relationships that relate to or arise from the Merger Agreement and subsequent events arising from that agreement, specifically identified as : (a) ▇▇▇▇▇▇ Leasing A/C 001-037-4743-002; (b) ▇▇▇▇▇▇ Leasing A/C 001-037-4743-001; (c) American Express A/C ▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇; and (d) American Express A/C ▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇. In the event that Options is unable to effect the removal of ▇▇▇▇▇▇▇▇ as guarantor from the obligations identified as Section 5(b)-(d) within 5 days of this Agreement, it shall pay off and discharge those obligations in full and indemnify and hold harmless ▇▇▇▇▇▇▇▇ from any and all damages for any action filed in connection with these obligation. In the event that Options is unable to effect the removal of ▇▇▇▇▇▇▇▇ as guarantor from the obligation identified as 5(a) within 5 days of this Agreement, Options shall deposit a sum equal to the full payout of that obligation, including principal, interest, fees, and costs, into the trust account of its attorneys, ▇▇▇▇▇▇ ▇▇▇▇▇▇ LLP with irrevocable instructions that the sum shall be solely used for the monthly payment of the obligation, and Options shall pay off and discharge those obligations in full, and indemnify and hold harmless ▇▇▇▇▇▇▇▇ from any and all damages for any action filed in connection with these obligation.