EXHIBIT 10.8
GUARANTY
THIS GUARANTY is
made as of the 1 st day of July, 2005, by Cash America
International, Inc., a Texas corporation (hereinafter referred to
as “Guarantor”), to and for the benefit of MIDWEST
R&S CORPORATION, a South Dakota corporation (hereinafter
referred to as “Lender”).
R E C I T A L S
Cash America
Financial Services, Inc. (“CAFSI”), a subsidiary of
Guarantor, has, on even date herewith, entered into an
Administrative Credit Services Agreement (the “Services
Agreement”) with Lender. As a condition to entering into the
Services Agreement, Lender is requiring Guarantor to guaranty the
obligations of CAFSI under the Services Agreement.
NOW, THEREFORE, in
consideration of the premises recited above and of One Dollar
($1.00) in hand paid by CAFSI to Guarantor, and of other good and
valuable consideration, the receipt and sufficiency of all of which
are hereby acknowledged by Guarantor; and for the purpose of
inducing Lender to enter into the Services Agreement; and as long
as CAFSI continues to be obligated to Lender in any manner
whatsoever pursuant to the Services Agreement,
Guarantor:
1. Unconditionally
and absolutely guarantees: (a) the due and punctual payment of
all amounts due and payable from CAFSI to Lender under the Services
Agreement; and (b) the due and punctual performance and
observance by CAFSI of all other obligations, warranties,
covenants, and duties of CAFSI set forth in the Services Agreement,
and any other instruments or documents executed by CAFSI and Lender
in connection therewith, whether according to the present terms
thereof or pursuant to any extension of time or to any change or
changes in the terms, warranties, covenants, agreements and
conditions thereof now or at any time hereafter made or granted
(all of which amounts payable and the terms, warranties,
agreements, covenants and conditions being herein called the
“Obligations”);
To
this end, Guarantor covenants and agrees to take all such actions
necessary to enable CAFSI to observe and perform and to refrain
from taking any action which would prevent CAFSI from observing and
performing each and every such Obligation.
2. Agrees
that this Guaranty shall be a continuing guaranty, shall be binding
upon Guarantor, and upon its successors and assigns, and shall
remain in full force and effect, and shall not be discharged,
impaired or affected by (a) the existence or continuance of
any of the Obligations; (b) the validity or invalidity of any
document or agreement evidencing the Obligations or any of them;
(c) the existence or continuance
