EXHIBIT F
GUARANTY AGREEMENT
THIS
GUARANTY AGREEMENT (“ Guaranty ”) is dated as of
____________ ___, 2009, and is made effective as of ___________ __,
2009 (the “ Effective Date ”) by the undersigned
(each hereinafter referred to as a “ Guarantor ”
and collectively, the “ Guarantors ”), in favor
of the purchasers (each a “ Investor ” and
collectively the “ Investors ”) of the 8%
exchangeable convertible notes due March 31, 2011 (the “
Notes ”) and the Warrants issued pursuant to a
Securities Purchase Agreement among MOBIZONE HOLDINGS
LIMITED , a Hong Kong corporation (“ MobiZone Hong
Kong ”), the Guarantors, certain other Persons or are
parties thereto and such Investors, dated as of June 1,
2009 (the “ Securities Purchase Agreement
”) and the Exhibits to the Securities Purchase Agreement, all
dated as of June 1, 2009 (with the Securities Purchase Agreement,
collectively, the “ Investment Documents
”).
Unless
otherwise defined in this Guaranty, all capitalized terms when used
herein shall have the same meaning as is defined in the Securities
Purchase Agreement.
NOW,
THEREFORE , as a material
inducement to each Investor to purchase the Notes from the Company
and the Warrants from Trestle, and for further good and valuable
consideration, the receipt and sufficiency of which are hereby
acknowledged, the Guarantors hereby, unconditionally, irrevocably
and absolutely, warrant and represent to and covenant with the
Investors as follows:
1.
Guaranty of Obligation . The Guarantors
jointly, severally, unconditionally, irrevocably and absolutely,
guarantee to the Investors that:
(a) all
indebtedness and other obligations of the Company evidenced by or
provided in the Note (the “ Payment Obligation
”) and
(b) each of the
consummation of (i) the “Trestle Reverse Split” (as
defined in the Purchase Agreement), (ii) the filing of an amended
and restated certificate of incorporation of Trestle and the Series
A Preferred Stock Certificate of Designations (as defined) of
Trestle with the Secretary of State of the State of Delaware, (iii)
the payment of accrued interest on the Notes, and (iv) the delivery
to each Investor of their respective rights to shares of Series A
Preferred Stock, all as required under the Securities Purchase
Agreement (collectively, the “ Performance Obligations
” and together with the Payment Obligation, the “
Guaranteed Obligations ”),
will be
promptly paid when due and performed in accordance with the terms
and provisions thereof (and as they may be amended, extended or
renewed from time to time) including, without limitation, interest
on all of the above amounts as agreed upon between the Company and
the Investors, and any and all renewals, extensions and
rearrangements of all or any part of the Guaranteed
Obligations. This is a continuing guaranty and shall
continue to apply without regard to the form or amount of
indebtedness or obligation which the Company may create, renew,
extend or alter in whole or in part, without notice to the
Guarantors.
2.
Liability for Other Indebtedness . If the
Guarantors are or become liable for any indebtedness owing by the
Company to any or all Investors by endorsement or otherwise than
under this Guaranty, such liability shall not be in any manner
impaired or affected hereby, and the rights of such Investor
hereunder shall be cumulative of any and all other rights that such
Investor may ever have against the Guarantors. The
exercise by such Investor of any right or remedy hereunder or under
any other instrument, or at law or in equity, shall not preclude
the concurrent or subsequent exercise of any other right or
remedy.
3.
No Release From Obligations . The
obligations, covenants, agreements and duties of the Guarantors
under this Guaranty shall not be released or impaired in any manner
whatsoever, without the written consent of the Investors, including
on account of any or all of the following:
a. any
permitted assignment, endorsement or transfer, in whole or in part,
of the Guaranteed Obligations, although made without consent of the
Guarantors;
b. any
waiver by any Investor of the performance or observance by either
or both of the Company or the Guarantors of any of the agreements,
covenants, terms or conditions contained in any document
evidencing, governing or securing the Guaranteed
Obligations;
c. any
extension of the time for payment or performance of all or any
portion of the Guaranteed Obligations;
d. the
renewal, rearrangement, modification or amendment (whether material
or otherwise) of any duty, agreement or obligation of the Company
set forth in any document evidencing, governing or securing the
Guaranteed Obligations;
e. the
voluntary or involuntary liquidation, sale or other disposition of
all or substantially all of the assets of either or both of the
Company or the Guarantors;
f. any
receivership, insolvency, bankruptcy, reorganization or other
similar proceedings or lack of corporate power, affecting either or
both of the Company or the Guarantors or any of their
assets;
g. any
release, withdrawal, surrender, exchange, substitution,
subordination or loss of any security or other guaranty at any time
existing in connection with all or any portion of the Guaranteed
Obligations, or the acceptance of additional or substitute property
as security therefore;
h. the
release or discharge of the Company or the Guarantors from the
observance or performance of any agreement, covenant, term or
condition contained in any document evidencing, governing or
securing the Guaranteed Obligations;
i. any
action which the Investors may take or omit to take by virtue of
any document evidencing, governing or securing the Guaranteed
Obligations or through any course of dealing with either or both of
the Company or the Guarantors;
j. the
addition of a new guarantor or guarantors;
k. the
operation of law or any other cause, whether similar or dissimilar
to the foregoing;
l. any
adjustment, indulgence, forbearance or compromise that may be
granted or given by the Investors to any party;
m. the
failure by the Investors to file or enforce a claim against the
estate (either in administration, bankruptcy or other proceeding)
of the Company;
n. if
the recovery from the Company becomes barred by any statute of
limitations or is otherwise prevented;
o. any
defenses, set-offs or counterclaims which may be available to the
Company;
p. any
impairment, modification, change, release or limitation of
liability of, or stay of actions of lien enforcement proceedings
against the Company, its property, or its estate in bankruptcy
resulting from the operation of any present or future provision of
the Bankruptcy Code or any other similar federal or state statute,
or from the decision of any court; or
q. any
neglect, delay, omission, failure or refusal of the Investors to
take or prosecute any action for the collection of any of the
Guaranteed Obligations or to foreclose or take or prosecute any
action in connection with any lien, right of security (including
perfection thereof), existing or to exist in connection with, or as
security for, any of the Guaranteed Obligations, it being the
intention hereof that the Guarantors shall remain liable as
principals on the Guaranteed Obligations, notwithstanding any act,
omission or thing which might, but for the provisions hereof,
otherwise operate as a legal or equitable discharge of any
Guarantor.
4.
Payment and Performance of Obligations .
In the event of default by the Company in payment or performance of
the Guaranteed Obligations, or any part thereof, when such
indebtedness or performance becomes due, either by its terms or as
the result of the exercise of any power to accelerate, the
Guarantors shall, without notice or demand, and without any notice
having been given to the Guarantors of the acceptance by any
Investor of this Guaranty and without any notice having been given
to the Guarantors of the creating or incurring of such
indebtedness, pay the amount due thereon to each Investor, at its
office, or at such other place as may be designated in writing by
such Investor, and it shall not be necessary for any Investor, in
order to enforce such payment by the Guarantors, first, to
institute suit or exhaust its remedies against the Company or
others liable on such indebtedness, or to enforce its rights
against any security which shall ever have been given to secure
such indebtedness.
5.
Waiver of Notice . Notice to the
Guarantors of the acceptance of this Guaranty and of the making,
renewing or assignment of the Guaranteed Obligations and each item
thereof, are hereby expressly waived by the Guarantors.
6.
Payments by the Company . Each payment on
the Guaranteed Obligations shall be deemed to have been made by the
Company unless express written notice is given to the Investors at
the time of such pa