Common use of Shareholder’s Guarantees Clause in Contracts

Shareholder’s Guarantees. MIOA shall use all reasonable efforts to have the Shareholders removed from any and all guarantees, agreements, obligations or debts, as identified in SCHEDULE 7.4, that were entered into by the Shareholders to facilitate or induce another party to engage in any business activity with the Company. If MIOA is unable to remove the Shareholders from such guarantees, agreements, obligations or debts then, in such event, MIOA will indemnify the Shareholders for any damages the Shareholders incur relative to such guarantees, agreements, obligations or debts.

Shareholder’s Guarantees. MIOA shall use all reasonable efforts to have the Shareholders removed from any and all guarantees, agreements, obligations or debts, as identified in SCHEDULE 7.4, that were entered into by the Shareholders a Shareholder to facilitate or induce another party to engage in any business activity with the Company. If MIOA is unable to remove the Shareholders such Shareholder from such guarantees, agreements, obligations or debts then, in such event, MIOA will indemnify the Shareholders for any damages the Shareholders incur incurs relative to such guarantees, agreements, obligations or debts.