Guaranty Agreement between Liberated Syndication Inc. and FAB Universal Corp. (January 31, 2016)
Liberated Syndication Inc. (Libsyn) agrees to guarantee the payment of all rent and other amounts due under a lease for Suite 600, 10100 Santa Monica Boulevard, Los Angeles, California, in favor of FAB Universal Corp. (FAB). Libsyn's guarantee is unconditional and will remain in effect until all obligations under the lease are fully paid and satisfied. This agreement outlines the responsibilities of Libsyn as guarantor and represents the complete understanding between the parties regarding this guarantee.
FORM OF GUARANTY
THIS GUARANTY is made as of January 31, 2016, by Liberated Syndication Inc. ("Libsyn"), in favor of FAB Universal Corp., a Colorado Corporation ("FAB").
WHEREAS, FAB is the Guarantor for a lease located at Suite 600, 10100 Santa Monica Boulevard, Los Angeles, California 90067 (the "Guaranty"); and
WHEREAS FAB’s liability under the Guaranty shall continue until all rents due under the Guaranty have been paid in full in cash and until all other obligations have been satisfied.
NOW, THEREFORE, Libsyn hereby absolutely, presently, continually, unconditionally and irrevocably guarantees the prompt payment of all rentals and all other sums payable under the Guaranty.
This Guaranty shall constitute the entire agreement between FAB and Libsyn with respect to the subject matter hereof.
IN WITNESS WHEREOF, FAB and Libsyn have executed this Guaranty as of the day and year first above written.
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FAB UNIVERSAL CORP. |
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By: |
| /s/ Christopher Spencer | |
Name: |
| Christopher Spencer | |
Title: |
| President and CEO | |
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Liberated Syndication Inc. |
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By: |
| /s/ Christopher Spencer | |
Name: |
| Christopher Spencer | |
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| Title: President and CEO | |
