Common use of RELEASE FROM GUARANTEES Clause in Contracts

RELEASE FROM GUARANTEES. Not later than 120 days following the Merger ----------------------- Effective Date, USFloral shall cause the Stockholders to be released from any and all guarantees of any indebtedness set forth on Schedule 11.1 that they personally guaranteed for the benefit of the Company, with all such guarantees on indebtedness being assumed by USFloral; provided, that, in the event that the beneficiary of any such guarantee is unwilling to permit the assumption by USFloral of the obligations under such guarantee, USFloral shall repay the indebtedness to which such guarantee relates together with all interest and prepayment penalties, if any, then due and owing. 11.2

RELEASE FROM GUARANTEES. Not later than 120 days following the Merger ----------------------- Effective Date, USFloral shall cause the Stockholders to be released from any and all guarantees of any indebtedness set forth on Schedule 11.1 that they personally guaranteed for the benefit of the Company, with all such guarantees on indebtedness being assumed by USFloral; provided, that, in the event that the beneficiary of any such guarantee is unwilling to permit the assumption by USFloral of the obligations under such guarantee, USFloral shall repay the indebtedness to which such guarantee relates together with all interest and prepayment penalties, if any, then due and owing. 11.2.

RELEASE FROM GUARANTEES. Not later than 120 days following the Merger ----------------------- Effective DateTime, USFloral shall cause the Stockholders to be released from any and all guarantees of any indebtedness set forth on Schedule 11.1 that they personally guaranteed for the benefit of the Company, with all such guarantees on indebtedness being assumed by USFloral; provided, that, in the event that the beneficiary of any such guarantee is unwilling to permit the assumption by USFloral of the obligations under such guarantee, USFloral shall repay the indebtedness to which such guarantee relates together with all interest and prepayment penalties, if any, then due and owing. 11.2.

RELEASE FROM GUARANTEES. Not later than 120 days following the ----------------------- Merger ----------------------- Effective Date, USFloral shall cause the Stockholders Stockholder to be released from any and all guarantees of any indebtedness set forth on Schedule 11.1 11.3 that they he personally guaranteed for the benefit of the Company, with all such guarantees on indebtedness being assumed by USFloral; provided, that, in the event that the beneficiary of any such guarantee is unwilling to permit the assumption by USFloral of the obligations under such guarantee, USFloral shall repay the indebtedness to which such guarantee relates together with all interest and prepayment penalties, if any, then due and owing. 11.2.