Appendix L Form of Nonrecourse Carveout Guarantee

AuthorGregory M Stein - Michael D Goodwin - Morton P Fisher Jr
576 Appendices
Appendix L
Form of Nonrecourse Carveout Guarantee
Note: Remember that legal requirements vary from state to state and
that this document will probably need to be modified to comply with the
requirements of any particular jurisdiction.
antee”) is executed as of , 20 , by
(whether one or more collectively referred to
as “Guarantor”), for the benefit of (“Lender”).
W I T N E S S E T H:
WHEREAS, pursuant to that certain Promissory Note, dated
of even date herewith, executed by , a
(“Borrower”), and payable to the order of Lender
in the original principal amount of and No/100 Dollars
($ ) (together with all renewals, modifications, increases, and
extensions thereof, the “Note”), Borrower has become indebted, and may
from time to time be further indebted, to Lender with respect to a loan (the
Loan”) that is made pursuant to that certain Loan Agreement, dated as
of even date herewith, between Borrower and Lender (as the same may be
amended, restated, replaced, supplemented, or otherwise modified from
time to time, the “Loan Agreement”);
WHEREAS, Lender is not willing to make the Loan, or otherwise extend
credit, to Borrower unless Guarantor unconditionally guarantees pay-
ment and performance to Lender of the Guaranteed Obligations (as herein
defined); and
WHEREAS, Guarantor is the owner of a direct or indirect interest in
Borrower, and Guarantor will directly benefit from Lender’s making the
Loan to Borrower.
NOW, THEREFORE, as an inducement to Lender to make the Loan to
Borrower and to extend such additional credit as Lender may from time
to time agree to extend under the Loan Documents, and for other good
and valuable consideration, the receipt and legal sufficiency of which are
hereby acknowledged, the parties do hereby agree as follows:
ste54861_11_app_517-606.indd 576 8/4/16 3:27 PM

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