Guaranty

Guaranty. Guarantor hereby guarantees to Lender, upon written demand by Lender, at Lender's option and in its sole discretion, that Guarantor will (i) complete the Project substantially in accordance with the plans and specifications for the Project, as modified from time to time as allowed by the Loan Agreement (the "Plans and Specifications") and in accordance with the terms and conditions of the Loan Agreement and other Loan Documents if, for any reason, or under any contingency, Property Owner shall... abandon construction of the Project or shall fail to complete the Project within the construction time set forth in the Loan Agreement and Loan Documents and (ii) pay all cost overruns for construction of the Project to the extent Borrower or Property Owner fails to do so; provided that Lender shall reimburse Guarantor for all costs incurred by Guarantor in completing the Project (provided that such completion costs are included in the Project Budget (as defined below) to the extent such costs do not constitute cost overruns. In the preceding sentence, "cost overruns" means costs of constructing the Project that, in the aggregate, exceed the amount provided in the budget attached hereto as Exhibit "A" (the "Project Budget"). All amounts reimbursed to Guarantor by Lender in accordance with this Section 2(a) shall correspondingly increase the amount of Loan to Borrower and shall be payable by Borrower to Lender in accordance with the terms of the Loan Agreement. The Project will be deemed substantially completed in accordance with the Plans and Specifications upon the issuance of the final certificate of occupancy, the issuance of a certificate of substantial completion from the Property Owner's architect, receipt of a contractor's release and the receipt of lien waivers or similar evidence of payment from the general contractor and all major subcontractors (i.e., subcontractors whose contract amount exceeds $100,000) to Lender's reasonable satisfaction, provided, however, that if Senior Lender shall deem the Project substantially complete then Lender shall deem the Project substantially complete ("Completion"). View More

Guaranty. Means that certain Guaranty Agreement, of even date herewith, by each Borrower and such other signatories who subsequently join such agreement after the date hereof as "Guarantors" or as a "Borrower", for the benefit of the Collateral Agent, as the same is amended, restated, amended and restated, supplemented or otherwise modified from time to time.

Guaranty. This Guaranty, and any extensions, modifications, renewals, restatements, reaffirmations, supplements or amendments hereof.

Guaranty. Shall mean that certain Continuing Unconditional Guaranty to be executed by the General Partner in favor of Lender dated as of the Effective Date, guaranteeing the prompt payment and performance of Borrower's obligations under this Note.

Guaranty. That certain Continuing Unconditional Guaranty executed by the Borrower Principals and The Fogarty Family Trust in favor of Lender, dated the Effective Date, as such Guaranty may be amended from time to time

Guaranty. That certain Continuing Unconditional Guaranty executed by the General Partner in favor of Lender dated the Effective Date, as such Guaranty may be amended from time to time

Guaranty. This Guaranty, as the same shall be amended from time to time in accordance with the terms hereof.

Guaranty. Means this Guaranty, as it may be amended, modified, extended, and renewed, from time to time.

Guaranty. The Guaranty and Suretyship agreement of Guarantor guaranteeing the payment and performance obligations of Borrower set forth in the Loan Documents.

Guaranty. Shall mean the Guaranty of each Lease to be executed by the Guarantor in the form attached as Exhibit B.