Common use of RELEASE FROM GUARANTEES; REPAYMENT OF CERTAIN OBLIGATIONS Clause in Contracts

RELEASE FROM GUARANTEES; REPAYMENT OF CERTAIN OBLIGATIONS. LandCARE shall use reasonable efforts, including offering its own guarantee, to have the Stockholders and their spouses released from any and all guarantees of the Company's indebtedness identified on Schedule 10.1. In the event that LandCARE cannot obtain such releases from the lenders of any such guaranteed indebtedness identified on Schedule 10.1 on or prior to 120 days subsequent to the Funding and Consummation Date, LandCARE shall promptly pay off or otherwise refinance or retire such indebtedness. LandCARE shall indemnify the Stockholders against, and shall promptly reimburse the Stockholders for, any amounts which the Stockholders are obligated to pay under any such guarantees listed on Schedule 10.1, and shall be subrogated to any rights of the Stockholders accruing as a result of any such payments by the Stockholders.