Guaranty Agreement between Beard Technologies, Inc. and Noteholder for Second Amended and Restated Promissory Note

Contract Categories: Business Finance › Guaranty Agreements
Summary

Beard Technologies, Inc. agrees to guarantee the payment of principal and interest on a specific promissory note dated March 22, 2006 (effective as of October 7, 2005). This agreement replaces earlier guarantees from September 29, 2005, and February 7, 2006. Beard Technologies, Inc. is responsible for ensuring the noteholder receives payment if the original borrower defaults.

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EX-10.7 5 bc10qexh107-052206.txt Exhibit 10.7 GUARANTY For value received, Beard Technologies, Inc., an Oklahoma corporation whose address is Enterprise Plaza, Suite 320, 5600 North May Avenue, Oklahoma City, Oklahoma 73112, guarantees payment of principal and interest of that certain Second Amended and Restated Promissory Note executed on March 22, 2006, but effective for all purposes as of October 7, 2005. This Guaranty supersedes and replaces our previous Guarantees dated September 29, 2005 and February 7, 2006. Dated: March 22, 2006 BEARD TECHNOLOGIES, INC. /s/ Herb Mee, Jr. By______________________________ Herb Mee, Jr., Vice President