Exhibit 10.6
GUARANTY
THIS GUARANTY dated as of SEPTEMBER 1, 1997 (the "Guaranty") from
XXXXXXXX INDUSTRIES, INC., a business corporation organized and existing under
the laws of the State of Virginia and having an address of 0000 Xxxxxxx Xxxxxx
Xxxxxxx, Xxxxxxx, Xxxxxxxx 00000 (the "Guarantor") to D.B. WESTERN, INC., a
business corporation organized and existing under the laws of the State of
Oregon and having an office at 0000 Xxxxxxx Xxxx, Xxxxx Xxxx, Xxxxxx 00000 (the
"Lessor");
WITNESETH:
WHEREAS, Xxxxxxxx Adhesives, Inc. (the "Company") and the Lessor have
agreed to enter into a lease of plant equipment and facilities dated as of the
30th day of September, 1997 (the "Lease Agreement"); and
WHEREAS, the Guarantor is willing to enter into this Guaranty in order
to induce the Lessor to enter into the Lease Agreement;
NOW, THEREFORE, in consideration of the premises herein contained, the
Guarantor does hereby covenant and agree with the Lessor as follows:
The Guarantor unconditionally guarantees prompt performance and payment
of all obligations set forth in the Lease Agreement when due. The Guarantor
shall pay all costs and expenses, including attorneys' fees, incurred in the
collection of the money due under said Lease Agreement. Neither the renewal or
extension of the Lease Agreement, nor the acceptance, release, or surrender of
any security therefor, nor the release of the Company, nor any delay in the
enforcement of payments under the Lease Agreement, nor any other delay or
omission in the exercise of any right or power under the Lease Agreement, shall
affect the liability of the Guarantor. The liability of the Guarantor on this
guaranty shall be direct, and not conditional or contingent on the pursuit of
any remedies against the Company. The Guarantor expressly waives presentment,
protest, demand, notice of dishonor or default, notice of acceptance of this
guaranty, and notice of any kind with respect to the Lease Agreement. The
Guarantor consents to be bound by all the terms and provisions of the Lease
Agreement.
This Guaranty is binding upon the Guarantor, its successors and
assigns.
IN WITNESS WHEREOF, the Guarantor has caused this Guaranty to be duly
executed and delivered in its name by its duly Authorized Representative all as
of the day and year first above written.
XXXXXXXX INDUSTRIES, INC.
By: /s/ Irvine X. Xxxxxxxx
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Name: Irvine X. Xxxxxxxx
Title: President
Accepted September ___, 1997:
D.B. WESTERN, INC.
By: /s/ Xxxxxx X. Xxxxxxx
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Name: Xxxxxx X. Xxxxxxx
Title: President
STATE OF Virginia )
)SS.:
CITY OF Richmond )
On this 30th day of September, 1997, before me personally came Irvine
X. Xxxxxxxx, to me known, who being by me duly sworn, did depose and say that he
resides at , that he is the President of XXXXXXXX INDUSTRIES, INC. the
corporation described in and which executed the foregoing instrument, and that
he signed his name thereto by order of the Board of Directors of said
corporation.
/s/ Xxxxxx X. Xxxxx
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Notary Public
My commission expires: Feb. 28, 1998