Guaranty Agreement between Iron Mountain Incorporated and Scotiabanc Inc. regarding Owner Trust Agreement

Summary

Iron Mountain Incorporated, as guarantor, promises to ensure that Scotiabanc Inc., the beneficiary under an Owner Trust Agreement, receives full and timely payment of its equity investment and any accrued returns by the agreement's termination date. This guarantee is provided in connection with a lease arrangement involving Iron Mountain Information Services, Inc. as lessee and Iron Mountain Statutory Trust - 1998 as lessor. The agreement ensures the beneficiary's financial interests are protected if the lessee fails to meet its payment obligations.

EX-10.20 6 a2105753zex-10_20.txt EXHIBIT 10.20 EXHIBIT 10.20 December 31, 2002 To the Beneficiary party to the Owner Trust Agreement referred to below Ladies and Gentlemen: Reference is hereby made to (i) the Owner Trust Agreement dated as of October 1, 1998, as heretofore amended and supplemented (the "Owner Trust Agreement"), between Scotiabanc Inc., as beneficiary (the "Beneficiary") and First Union National Bank, as Trustee and (ii) the Lease Agreement dated as of October 1, 1998, as heretofore amended and supplemented (the "Lease"), between the Iron Mountain Statutory Trust - 1998, a Connecticut statutory trust, as lessor (the "Lessor"), and Iron Mountain Information Services, Inc. (f/k/a Iron Mountain Records Management, Inc.), as lessee (the "Lessee"). Capitalized terms used herein without definition that are defined in the Lease are used herein with the same meaning as in the Lease. The undersigned hereby guarantees to the Beneficiary the prompt and complete payment in cash of its Equity Investment, and the accrued and unpaid Equity Return thereon, on the Term Termination Date. IRON MOUNTAIN INFORMATION SERVICES, INC., as Lessee By: /s/ John P. Lawrence ----------------------------------- Name: John P. Lawrence Title: Vice President and Treasurer IRON MOUNTAIN INCORPORATED, as Guarantor By: /s/ John P. Lawrence ------------------------------------ Name: John P. Lawrence Title: Vice President and Treasurer