EXHIBIT 99.10
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SUBSIDIARY GUARANTY
New York, New York October 31, 2005
FOR VALUE RECEIVED, and in consideration of note purchases from, or credit
otherwise extended or to be extended by Laurus Master Fund, Ltd. ("Laurus") to
or for the account of RG America, Inc., a Nevada corporation (the "Parent") and
each of the other undersigned Eligible Subsidiaries and together with the
Parent, the "Companies" and each, a "Company") from time to time and at any time
and for other good and valuable consideration and to induce ▇▇▇▇▇▇, in its
discretion, to purchase such notes or make other extensions of credit and to
make or grant such renewals, extensions, releases of collateral or
relinquishments of legal rights as ▇▇▇▇▇▇ may deem advisable, each of the
undersigned (and each of them if more than one, the liability under this
Guaranty being joint and several) (jointly and severally referred to as
"Guarantors" or "the undersigned") unconditionally guarantees to Laurus, its
successors, endorsees and assigns the prompt payment when due (whether by
acceleration or otherwise) of all present and future obligations and liabilities
of any and all kinds of each Company to Laurus and of all instruments of any
nature evidencing or relating to any such obligations and liabilities upon which
such Company or one or more parties and such Company is or may become liable to
Laurus, whether incurred by such Company as maker, endorser, drawer, acceptor,
guarantors, accommodation party or otherwise, and whether due or to become due,
secured or unsecured, absolute or contingent, joint or several, and however or
whenever acquired by ▇▇▇▇▇▇, whether arising under, out of, or in connection
with (i) that certain Security Agreement dated as of the date hereof by and
among the Parent, the other Companies named therein and Laurus (the "Security
Agreement") and (ii) each Ancillary Agreement referred to in the Security
Agreement (the Security Agreement and each Ancillary Agreement, as each may be
amended, modified, restated and/or supplemented from time to time, are
collectively referred to herein as the "Documents"), or any documents,
instruments or agreements relating to or executed in connection with the
Documents or any documents, instruments or agreements referred to therein or
otherwise, or any other obligations or liabilities of such Company to Laurus,
whether now existing or hereafter arising, direct or indirect, liquidated or
unliquidated, absolute or contingent, due or not due and whether under, pursuant
to or evidenced by a note, agreement, guaranty, instrument or otherwise (all of
which are herein collectively referred to as the "Obligations"), and
irrespective of the genuineness, validity, regularity or enforceability of such
Obligations, or of any instrument evidencing any of the Obligations or of any
collateral therefor or of the existence or extent of such collateral, and
irrespective of the allowability, allowance or disallowance of any or all of the
Obligations in any case commenced by or against any Company under Title 11,
United States Code, including, without limitation, obligations or indebtedness
of any Company for post-petition interest, fees, costs and charges that would
have accrued or been added to the Obligations but for the commencement of such
case. Terms not otherwise defined herein shall have the meaning assigned such
terms in the Security Agreement. In furtherance of the foregoing, the
undersigned ▇▇▇▇▇▇ agrees as follows:
106. No Impairment. Laurus may at any time and from time to time, either
before or after the maturity thereof, without notice to or further consent of
the undersigned, extend the time of payment of, exchange or surrender any
collateral for, renew or extend any of the Obligations or increase or decrease
the interest rate thereon, or any other agreement with any Company or with any
other party to or person liable on any of the Obligations, or interested
therein, for the extension, renewal, payment, compromise, discharge or release
thereof, in whole or in part, or for any modification of the terms thereof or of
any agreement between Laurus and any Company or any such other party or person,
or make any election of rights Laurus may deem desirable under the United States
Bankruptcy Code, as amended, or any other federal or state bankruptcy,
reorganization, moratorium or insolvency law relating to or affecting the
enforcement of creditors' rights generally (any of the foregoing, an "Insolvency
Law") without in any way impairing or affecting this Guaranty. This Guaranty
shall be effective regardless of the subsequent incorporation, merger or
consolidation of any Company, or any change in the composition, nature,
personnel or location of any Company and shall extend to any successor entity to
each Company, including a debtor in possession or the like under any Insolvency
Law.
107. Guaranty Absolute. Subject to Section 5(c) hereof, each of the
undersigned jointly and severally guarantees that the Obligations will be paid
strictly in accordance with the terms of the Documents and/or any other
document, instrument or agreement creating or evidencing the Obligations,
regardless of any law, regulation or order now or hereafter in effect in any
jurisdiction affecting any of such terms or the rights of any Company with
respect thereto. Guarantors hereby knowingly accept the full range of risk
encompassed within a contract of "continuing guaranty" which risk includes the
possibility that a Company will contract additional obligations and liabilities
for which Guarantors may be liable hereunder after such Company's financial
condition or ability to pay its lawful debts when they fall due has
deteriorated, whether or not such Company has properly authorized incurring such
additional obligations and liabilities. The undersigned acknowledge that (i) no
oral representations, including any representations to extend credit or provide
other financial accommodations to any Company, have been made by Laurus to
induce the undersigned to enter into this Guaranty and (ii) any extension of
credit to any Company shall be governed solely by the provisions of the
Documents. The liability of each of the undersigned under this Guaranty shall be
absolute and unconditional, in accordance with its terms, and shall remain in
full force and effect without regard to, and shall not be released, suspended,
discharged, terminated or otherwise affected by, any circumstance or occurrence
whatsoever, including, without limitation: (a) any waiver, indulgence, renewal,
extension, amendment or modification of or addition, consent or supplement to or
deletion from or any other action or inaction under or in respect of the
Documents or any other instruments or agreements relating to the Obligations or
any assignment or transfer of any thereof, (b) any lack of validity or
enforceability of any Document or other documents, instruments or agreements
relating to the Obligations or any assignment or transfer of any thereof, (c)
any furnishing of any additional security to Laurus or its assignees or any
acceptance thereof or any release of any security by Laurus or its assignees,
(d) any limitation on any party's liability or obligation under the Documents or
any other documents, instruments or agreements relating to the Obligations or
any assignment or transfer of any thereof or any invalidity or unenforceability,
in whole or in part, of any such document, instrument or agreement or any term
thereof, (e) any bankruptcy, insolvency, reorganization, composition,
adjustment, dissolution, liquidation or other like proceeding relating to any
Company, or any action taken with respect to this Guaranty by any trustee or
receiver, or by any court, in any such proceeding, whether or not the
undersigned shall have notice or knowledge of any of the foregoing, (f) any
exchange, release or nonperfection of any collateral, or any release, or
amendment or waiver of or consent to departure from any guaranty or security,
for all or any of the Obligations or (g) any other circumstance which might
otherwise constitute a defense available to, or a discharge of, the undersigned.
Any amounts due from the undersigned to Laurus shall bear interest until such
amounts are paid in full at the highest rate then applicable to the Obligations.
Obligations include post-petition interest whether or not allowed or allowable.
108. Waivers.
108.1 This Guaranty is a guaranty of payment and not of collection.
Laurus shall be under no obligation to institute suit, exercise rights or
remedies or take any other action against any Company or any other person
or entity liable with respect to any of the Obligations or resort to any
collateral security held by it to secure any of the Obligations as a
condition precedent to the undersigned being obligated to perform as
agreed herein and each of the Guarantors hereby waives any and all rights
which it may have by statute or otherwise which would require Laurus to do
any of the foregoing. Each of the Guarantors further consents and agrees
that ▇▇▇▇▇▇ shall be under no obligation to marshal any assets in favor of
Guarantors, or against or in payment of any or all of the Obligations.
Each of the undersigned hereby waives all suretyship defenses and any
rights to interpose any defense, counterclaim or offset of any nature and
description which the undersigned may have or which may exist between and
among Laurus, any Company and/or the undersigned with respect to the
undersigned's obligations under this Guaranty, or which any Company may
assert on the underlying debt, including but not limited to failure of
consideration, breach of warranty, fraud, payment (other than cash payment
in full of the Obligations), statute of frauds, bankruptcy, infancy,
statute of limitations, accord and satisfaction, and usury.
108.2 Each of the undersigned further waives (i) notice of the
acceptance of this Guaranty, of the extensions of credit, and of all
notices and demands of any kind to which the undersigned may be entitled,
including, without limitation, notice of adverse change in any Company's
financial condition or of any other fact which might materially increase
the risk of the undersigned and (ii) presentment to or demand of payment
from anyone whomsoever liable upon any of the Obligations, protest,
notices of presentment, non-payment or protest and notice of any sale of
collateral security or any default of any sort.
108.3 Notwithstanding any payment or payments made by the
undersigned hereunder, or any setoff or application of funds of the
undersigned by ▇▇▇▇▇▇, the undersigned shall not be entitled to be
subrogated to any of the rights of Laurus against any Company or against
any collateral or guarantee or right of offset held by ▇▇▇▇▇▇ for the
payment of the Obligations, nor shall the undersigned seek or be entitled
to seek any contribution or reimbursement from any Company in respect of
payments made by the undersigned hereunder, until all amounts owing to
Laurus by each Company on account of the Obligations are indefeasibly paid
in full and Laurus' obligation to extend credit pursuant to the Documents
has been irrevocably terminated. If, notwithstanding the foregoing, any
amount shall be paid to the undersigned on account of such subrogation
rights at any time when all of the Obligations shall not have been paid in
full and Laurus' obligation to extend credit pursuant to the Documents
shall not have been terminated, such amount shall be held by the
undersigned in trust for Laurus, segregated from other funds of the
undersigned, and shall forthwith upon, and in any event within two (2)
business days of, receipt by the undersigned, be turned over to Laurus in
the exact form received by the undersigned (duly endorsed by the
undersigned to Laurus, if required), to be applied against the
Obligations, whether matured or unmatured, in such order as Laurus may
determine, subject to the provisions of the Documents. Any and all present
and future obligations and liabilities of each Company to any of the
undersigned are hereby waived and postponed in favor of, and subordinated
to the full payment and performance of, all Obligations of each Company to
Laurus.
109. Security. All sums at any time to the credit of the undersigned and
any property of the undersigned in Laurus' possession or in the possession of
any bank, financial institution or other entity that directly or indirectly,
through one or more intermediaries, controls or is controlled by, or is under
common control with, Laurus (each such entity, an "Affiliate") shall be deemed
held by Laurus or such Affiliate, as the case may be, as security for any and
all of the undersigned's obligations and liabilities to Laurus and to any
Affiliate of Laurus, no matter how or when arising and whether under this or any
other instrument, agreement or otherwise.
110. Representations and Warranties. Each of the undersigned hereby
jointly and severally represents and warrants (all of which representations and
warranties shall survive until all Obligations are indefeasibly satisfied in
full and the Documents have been irrevocably terminated), that:
110.1 Corporate Status. It is a corporation, partnership or
limited liability company, as the case may be, duly formed, validly
existing and in good standing under the laws of its jurisdiction of
formation indicated on the signature page hereof and has full power,
authority and legal right to own its property and assets and to
transact the business in which it is engaged.
110.2 Authority and Execution. It has full power, authority
and legal right to execute and deliver, and to perform its
obligations under, this Guaranty and has taken all necessary
corporate, partnership or limited liability company, as the case may
be, action to authorize the execution, delivery and performance of
this Guaranty.
110.3 Legal, Valid and Binding Character. This Guaranty
constitutes its legal, valid and binding obligation enforceable in
accordance with its terms, except as enforceability may be limited
by applicable bankruptcy, insolvency, reorganization, moratorium or
other laws of general application affecting the enforcement of
creditor's rights and general principles of equity that restrict the
availability of equitable or legal remedies.
110.4 Violations. The execution, delivery and performance of
this Guaranty will not violate any requirement of law applicable to
it or any contract, agreement or instrument to which it is a party
or by which it or any of its property is bound or result in the
creation or imposition of any mortgage, lien or other encumbrance
other than in favor of ▇▇▇▇▇▇ on any of its property or assets
pursuant to the provisions of any of the foregoing, which, in any of
the foregoing cases, could reasonably be expected to have, either
individually or in the aggregate, a Material Adverse Effect.
110.5 Consents or Approvals. No consent of any other person or
entity (including, without limitation, any creditor of the
undersigned) and no consent, license, permit, approval or
authorization of, exemption by, notice or report to, or
registration, filing or declaration with, any governmental authority
is required in connection with the execution, delivery, performance,
validity or enforceability of this Guaranty by it, except to the
extent that the failure to obtain any of the foregoing could not
reasonably be expected to have, either individually or in the
aggregate, a Material Adverse Effect.
110.6 Litigation. No litigation, arbitration, investigation or
administrative proceeding of or before any court, arbitrator or
governmental authority, bureau or agency is currently pending or, to
the best of its knowledge, threatened (i) with respect to this
Guaranty or any of the transactions contemplated by this Guaranty or
(ii) against or affecting it, or any of its property or assets,
which, in each of the foregoing cases, if adversely determined,
could reasonably be expected to have a Material Adverse Effect.
110.7 Financial Benefit. It has derived or expects to derive a
financial or other advantage from each and every loan, advance or
extension of credit made under the Documents or other Obligation
incurred by the Companies to Laurus.
110.8 Solvency. As of the date of this Guaranty, (a) the fair
saleable value of its assets exceeds its liabilities and (b) it is
meeting its current liabilities as they mature.
111. Acceleration.
111.1 If any breach of any covenant or condition or other
event of default shall occur and be continuing under any agreement
made by any Company or any of the undersigned to Laurus, or either
any Company or any of the undersigned should at any time become
insolvent, or make a general assignment, or if a proceeding in or
under any Insolvency Law shall be filed or commenced by, or in
respect of, any of the undersigned, or if a notice of any lien,
levy, or assessment is filed of record with respect to any assets of
any of the undersigned by the United States of America or any
department, agency, or instrumentality thereof, or if any taxes or
debts owing at any time or times hereafter to any one of them
becomes a lien or encumbrance upon any assets of the undersigned in
Laurus' possession, or otherwise, any and all Obligations shall for
purposes hereof, at Laurus' option, be deemed due and payable
without notice notwithstanding that any such Obligation is not then
due and payable by the Companies.
111.2 Each of the undersigned will promptly notify Laurus of
any default by such undersigned in its respective performance or
observance of any term or condition of any agreement to which the
undersigned is a party if the effect of such default is to cause, or
permit the holder of any obligation under such agreement to cause,
such obligation to become due prior to its stated maturity and, if
such an event occurs, ▇▇▇▇▇▇ shall have the right to accelerate such
undersigned's obligations hereunder.
112. Payments from Guarantors. Laurus, in its sole and absolute
discretion, with or without notice to the undersigned, may apply on account of
the Obligations any payment from the undersigned or any other guarantors, or
amounts realized from any security for the Obligations, or may deposit any and
all such amounts realized in a non-interest bearing cash collateral deposit
account to be maintained as security for the Obligations.
113. Costs. The undersigned shall pay on demand, all costs, fees and
expenses (including expenses for legal services of every kind) relating or
incidental to the enforcement or protection of the rights of Laurus hereunder or
under any of the Obligations. 114. No Termination. This is a continuing
irrevocable guaranty and shall remain in full force and effect and be binding
upon the undersigned, and each of the undersigned's successors and assigns,
until all of the Obligations have been indefeasibly paid in full and Laurus'
obligation to extend credit pursuant to the Documents has been irrevocably
terminated. If any of the present or future Obligations are guaranteed by
persons, partnerships, corporations or other entities in addition to the
undersigned, the death, release or discharge in whole or in part or the
bankruptcy, merger, consolidation, incorporation, liquidation or dissolution of
one or more of them shall not discharge or affect the liabilities of any
undersigned under this Guaranty.
115. Recapture. Anything in this Guaranty to the contrary notwithstanding,
if ▇▇▇▇▇▇ receives any payment or payments on account of the liabilities
guaranteed hereby, which payment or payments or any part thereof are
subsequently invalidated, declared to be fraudulent or preferential, set aside
and/or required to be repaid to a trustee, receiver, or any other party under
any Insolvency Law, common law or equitable doctrine, then to the extent of any
sum not finally retained by ▇▇▇▇▇▇, the undersigned's obligations to ▇▇▇▇▇▇
shall be reinstated and this Guaranty shall remain in full force and effect (or
be reinstated) until payment shall have been made to Laurus, which payment shall
be due on demand.
116. Books and Records. The books and records of ▇▇▇▇▇▇ showing the
account between Laurus and each Company shall be admissible in evidence in any
action or proceeding, shall be binding upon the undersigned for the purpose of
establishing the items therein set forth and shall constitute prima facie proof
thereof.
117. No Waiver. No failure on the part of Laurus to exercise, and no delay
in exercising, any right, remedy or power hereunder shall operate as a waiver
thereof, nor shall any single or partial exercise by ▇▇▇▇▇▇ of any right, remedy
or power hereunder preclude any other or future exercise of any other legal
right, remedy or power. Each and every right, remedy and power hereby granted to
Laurus or allowed it by law or other agreement shall be cumulative and not
exclusive of any other, and may be exercised by ▇▇▇▇▇▇ at any time and from time
to time.
118. Waiver of Jury Trial. EACH OF THE UNDERSIGNED DESIRES THAT ITS
DISPUTES BE RESOLVED BY A JUDGE APPLYING SUCH APPLICABLE LAWS. THEREFORE, TO
ACHIEVE THE BEST COMBINATION OF THE BENEFITS OF THE JUDICIAL SYSTEM AND OF
ARBITRATION, EACH OF THE UNDERSIGNED HERETO WAIVES ALL RIGHTS TO TRIAL BY JURY
IN ANY ACTION, SUIT, OR PROCEEDING BROUGHT TO RESOLVE ANY DISPUTE, WHETHER
ARISING IN CONTRACT, TORT, OR OTHERWISE BETWEEN LAURUS, AND/OR ANY OF THE
UNDERSIGNED ARISING OUT OF, CONNECTED WITH, RELATED OR INCIDENTAL TO THE
RELATIONSHIP ESTABLISHED BETWEEN THEM IN CONNECTION WITH THIS GUARANTY, ANY
DOCUMENT OR THE TRANSACTIONS RELATED HERETO OR THERETO.
119. Governing Law; Jurisdiction. THIS GUARANTY CANNOT BE CHANGED OR
TERMINATED ORALLY, AND SHALL BE GOVERNED BY AND CONSTRUED AND ENFORCED IN
ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK APPLICABLE TO CONTRACTS MADE
AND PERFORMED IN SUCH STATE, WITHOUT REGARD TO PRINCIPLES OF CONFLICTS OF LAWS.
EACH OF THE UNDERSIGNED HEREBY CONSENTS AND AGREES THAT THE STATE OR FEDERAL
COURTS LOCATED IN THE COUNTY OF NEW YORK, STATE OF NEW YORK SHALL HAVE EXCLUSIVE
JURISDICTION TO HEAR AND DETERMINE ANY CLAIMS OR DISPUTES BETWEEN ANY OF THE
UNDERSIGNED, ON THE ONE HAND, AND LAURUS, ON THE OTHER HAND, PERTAINING TO THIS
GUARANTY OR ANY OF THE DOCUMENTS OR TO ANY MATTER ARISING OUT OF OR RELATED TO
THIS GUARANTY OR ANY OF THE DOCUMENTS; PROVIDED, THAT EACH OF THE UNDERSIGNED
ACKNOWLEDGES THAT ANY APPEALS FROM THOSE COURTS MAY HAVE TO BE HEARD BY A COURT
LOCATED OUTSIDE OF THE COUNTY OF NEW YORK, STATE OF NEW YORK; AND FURTHER
PROVIDED, THAT NOTHING IN THIS GUARANTY SHALL BE DEEMED OR OPERATE TO PRECLUDE
LAURUS FROM BRINGING SUIT OR TAKING OTHER LEGAL ACTION IN ANY OTHER JURISDICTION
TO COLLECT THE OBLIGATIONS, TO REALIZE ON THE COLLATERAL OR ANY OTHER SECURITY
FOR THE OBLIGATIONS, OR TO ENFORCE A JUDGMENT OR OTHER COURT ORDER IN FAVOR OF
LAURUS. EACH OF THE UNDERSIGNED EXPRESSLY SUBMITS AND CONSENTS IN ADVANCE TO
SUCH JURISDICTION IN ANY ACTION OR SUIT COMMENCED IN ANY SUCH COURT, AND EACH
UNDERSIGNED HEREBY WAIVES ANY OBJECTION WHICH IT MAY HAVE BASED UPON LACK OF
PERSONAL JURISDICTION, IMPROPER VENUE OR FORUM NON CONVENIENS. EACH OF THE
UNDERSIGNED HEREBY WAIVES PERSONAL SERVICE OF THE SUMMONS, COMPLAINT AND OTHER
PROCESS ISSUED IN ANY SUCH ACTION OR SUIT AND AGREES THAT SERVICE OF SUCH
SUMMONS, COMPLAINT AND OTHER PROCESS MAY BE MADE BY REGISTERED OR CERTIFIED MAIL
ADDRESSED TO SUCH UNDERSIGNED IN ACCORDANCE WITH SECTION 18 AND THAT SERVICE SO
MADE SHALL BE DEEMED COMPLETED UPON THE EARLIER OF SUCH UNDERSIGNED'S ACTUAL
RECEIPT THEREOF OR THREE (3) DAYS AFTER DEPOSIT IN THE U.S. MAILS, PROPER
POSTAGE PREPAID.
120. Understanding With Respect to Waivers and Consents. Each Guarantor
warrants and agrees that each of the waivers and consents set forth in this
Guaranty is made voluntarily and unconditionally after consultation with outside
legal counsel and with full knowledge of its significance and consequences, with
the understanding that events giving rise to any defense or right waived may
diminish, destroy or otherwise adversely affect rights which such Guarantor
otherwise may have against any Company, Laurus or any other person or entity or
against any collateral. If, notwithstanding the intent of the parties that the
terms of this Guaranty shall control in any and all circumstances, any such
waivers or consents are determined to be unenforceable under applicable law,
such waivers and consents shall be effective to the maximum extent permitted by
law.
121. Severability. To the extent permitted by applicable law, any
provision of this Guaranty which is prohibited or unenforceable in any
jurisdiction shall, as to such jurisdiction, be ineffective to the extent of
such prohibition or unenforceability without invalidating the remaining
provisions hereof, and any such prohibition or unenforceability in any
jurisdiction shall not invalidate or render unenforceable such provision in any
other jurisdiction.
122. Amendments, Waivers. No amendment or waiver of any provision of this
Guaranty nor consent to any departure by the undersigned therefrom shall in any
event be effective unless the same shall be in writing executed by each of the
undersigned directly affected by such amendment and/or waiver and ▇▇▇▇▇▇.
123. Notice. All notices, requests and demands to or upon the undersigned,
shall be in writing and shall be deemed to have been duly given or made (a) when
delivered, if by hand, (b) three (3) days after being sent, postage prepaid, if
by registered or certified mail, (c) when confirmed electronically, if by
facsimile, or (d) when delivered, if by a recognized overnight delivery service
in each event, to the numbers and/or address set forth beneath the signature of
the undersigned.
124. Successors. Laurus may, from time to time, without notice to the
undersigned, sell, assign, transfer or otherwise dispose of all or any part of
the Obligations and/or rights under this Guaranty. Without limiting the
generality of the foregoing, Laurus may assign, or grant participations to, one
or more banks, financial institutions or other entities all or any part of any
of the Obligations. In each such event, Laurus, its Affiliates and each and
every immediate and successive purchaser, assignee, transferee or holder of all
or any part of the Obligations shall have the right to enforce this Guaranty, by
legal action or otherwise, for its own benefit as fully as if such purchaser,
assignee, transferee or holder were herein by name specifically given such
right. Laurus shall have an unimpaired right to enforce this Guaranty for its
benefit with respect to that portion of the Obligations which ▇▇▇▇▇▇ has not
disposed of, sold, assigned, or otherwise transferred.
125. Joinder. It is understood and agreed that any person or entity that
desires to become a Guarantor hereunder, or is required to execute a counterpart
of this Guaranty after the date hereof pursuant to the requirements of any
Document, shall become a Guarantor hereunder by (x) executing a joinder
agreement in form and substance satisfactory to Laurus, (y) delivering
supplements to such exhibits and annexes to such Documents as Laurus shall
reasonably request and/or as may be required by such joinder agreement and (z)
taking all actions as specified in this Guaranty as would have been taken by
such such Guarantor had it been an original party to this Guaranty, in each case
with all documents required above to be delivered to Laurus and with all
documents and actions required above to be taken to the reasonable satisfaction
of ▇▇▇▇▇▇.
126. Release. Nothing except indefeasible payment in full of the
Obligations shall release any of the undersigned from liability under this
Guaranty.
127. Remedies Not Exclusive. The remedies conferred upon ▇▇▇▇▇▇ in this
Guaranty are intended to be in addition to, and not in limitation of any other
remedy or remedies available to Laurus under applicable law or otherwise.
128. Limitation of Obligations under this Guaranty. Each Guarantor and
Laurus (by its acceptance of the benefits of this Guaranty) hereby confirms that
it is its intention that this Guaranty not constitute a fraudulent transfer or
conveyance for purposes of the Bankruptcy Code, the Uniform Fraudulent
Conveyance Act of any similar Federal or state law. To effectuate the foregoing
intention, each Guarantor and Laurus (by its acceptance of the benefits of this
Guaranty) hereby irrevocably agrees that the Obligations guaranteed by such
Guarantor shall be limited to such amount as will, after giving effect to such
maximum amount and all other (contingent or otherwise) liabilities of such
Guarantor that are relevant under such laws and after giving effect to any
rights to contribution pursuant to any agreement providing for an equitable
contribution among such Guarantor and the other Guarantors (including this
Guaranty), result in the Obligations of such Guarantor under this Guaranty in
respect of such maximum amount not constituting a fraudulent transfer or
conveyance.
[REMAINDER OF THIS PAGE IS BLANK.
SIGNATURE PAGE IMMEDIATELY FOLLOWS]
IN WITNESS WHEREOF, this Guaranty has been executed by the undersigned as
of the date and year here above written.
RG RESTORATION, INC. (d/b/a The Restoration Group)
By:
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Name:
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Title:
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RG RISK MANAGEMENT, INC. (d/b/a The Recovery Group)
By:
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Name:
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Title:
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Address:
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RG ROOFING, INC. (d/b/a The Roofing Group)
By:
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Name:
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Title:
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RESTORATION GROUP AMERICA 2003, INC.
By:
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Name:
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RG INSURANCE SERVICES, INC.
By:
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Name:
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CTFD, Inc.
By:
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Name:
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CTFD MARINE, INC.
By:
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Name:
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INVVISION FUNDING, INC. (d/b/a RG Financial Services)
By:
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Name:
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RG FLORIDA GC, INC.
By:
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Name:
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Address:
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RG FLORIDA SC, INC.
By:
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Name:
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TOTAL PROFESSIONAL RESTORATION, INC.
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PRACTICAL BUILDING SOLUTIONS 2000, INC.
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Name:
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