Common use of RELEASE FROM GUARANTEES Clause in Contracts

RELEASE FROM GUARANTEES. Following the Effective Time, IES and the Surviving Corporation shall use reasonable efforts to have the Company Stockholders released from the personal guarantees of the Company's indebtedness identified on Schedule 5.7. In the event that IES cannot obtain releases of any such guarantees on or prior to one hundred and twenty (120) days subsequent to the Effective Time, IES shall pay off or otherwise refinance or retire such indebtedness.

Appears in 2 contracts

Samples: Agreement and Plan of Merger (Integrated Electrical Services Inc), Agreement and Plan of Merger (Integrated Electrical Services Inc)

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RELEASE FROM GUARANTEES. Following the Effective Time, IES and the Surviving Corporation shall use reasonable efforts to have the Company Stockholders Stockholder released from the personal guarantees of the Company's indebtedness or bonding identified on Schedule 5.75.6. In the event that IES cannot obtain releases of any such guarantees on or prior to one hundred and twenty (120) days subsequent to the Effective Time, IES shall pay off or otherwise refinance or retire such indebtednessindebtedness or bonding.

Appears in 1 contract

Samples: Agreement and Plan of Merger (Integrated Electrical Services Inc)

RELEASE FROM GUARANTEES. Following the Effective Time, IES and the Surviving Corporation shall use reasonable efforts to have the Company Stockholders Stockholder released from the personal guarantees of the Company's indebtedness identified on Schedule 5.75.6. In the event that IES cannot obtain releases of any such guarantees on or prior to one hundred and twenty (120) days subsequent to the Effective Time, IES shall pay off or otherwise refinance or retire such indebtedness.

Appears in 1 contract

Samples: Agreement and Plan of Merger (Integrated Electrical Services Inc)

RELEASE FROM GUARANTEES. Following the Effective Time, IES and the Surviving Corporation shall use reasonable efforts to have the Company Stockholders released from the personal guarantees of the Company's indebtedness identified on Schedule 5.75.6. In the event that IES cannot obtain releases of any such guarantees on or prior to one hundred and twenty thirty (12030) days subsequent to the Effective Time, IES shall pay off or otherwise refinance or retire such indebtedness.

Appears in 1 contract

Samples: Agreement and Plan of Merger (Integrated Electrical Services Inc)

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RELEASE FROM GUARANTEES. Following the Effective Time, IES and the Surviving Corporation shall use reasonable efforts to have the Company Stockholders Stockholder released from the personal guarantees of the Company's indebtedness identified on Schedule 5.7. In the event that IES cannot obtain releases of any such guarantees on or prior to one hundred and twenty (120) days subsequent to the Effective Time, IES shall pay off or otherwise refinance or retire such indebtedness.

Appears in 1 contract

Samples: Agreement and Plan of Merger (Integrated Electrical Services Inc)

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