EXHIBIT
10.3
GUARANTY
CONTINUING UNLIMITED
GUARANTY
1. Guaranty. This Continuing Limited Guaranty
(this "Guaranty") is made as of the 17th day of
April, 2007 , by _______________ a
________________________ (the "Guarantor"), whose address is 16250
Dallas Parkway, Suite 100, Dallas, Texas 75248, in favor of
Presidential HealthCare Credit Corporation ("Payee"). For good and
valuable consideration, the receipt and sufficiency of which are
hereby acknowledged, the undersigned Guarantor unconditionally
guarantees and promises to pay to Payee or order, on demand, in
lawful money of the United States, any and all Obligations as
hereinafter defined, of Park InfusionCare, LP, a Texas limited
partnership, formerly known as Park Infusion Services, LP, Park
InfusionCare Of Dallas, LP, A Texas limited partnership, Park
InfusionCare Of Houston, LP, a Texas limited partnership, and Park
InfusionCare Of San Antonio, LP, a Texas limited partnership
(together, jointly and severally, the "Company") to Payee. The word
"Obligations" as used herein means and includes any and all debts,
obligations and liabilities of Company to Payee, as the same may be
modified, renewed or replaced, whether such debts, obligations and
liabilities are now, or hereafter made, existing, incurred, or
created, due or not due, absolute or contingent, liquidated or
unliquidated, or determined or undetermined. This Guaranty is one
of payment and not of collection.
2. Guaranty Continuing; Revocation. This is a
continuing Guaranty relating to Obligations, including those
arising under successive transactions which shall either continue
the Obligations or from time to time renew any of the same. This
Guaranty shall remain in effect until the expiration of thirty (30)
days after Payee's receipt of written notice of revocation by
Guarantor and even then and thereafter, this Guaranty shall be and
remain effective as to (a) all Obligations then outstanding; (b)
any Obligations incurred or arising subsequent thereto pursuant to
any agreements or arrangements between Company and Payee in effect
at the time of Payee's receipt of notice of revocation; (c) any
renewals or extensions of any of the foregoing; and (d) all
expenses and costs of collecting or enforcing any of the foregoing.
This Guaranty may not be revoked or terminated except upon strict
compliance with the conditions and requirements heretofore set
forth in this Section 2. In the event any sums or other things of
value that are paid or transferred to or otherwise received by the
Payee are rescinded, recovered, required to be returned, set aside,
rendered void or otherwise adversely affected in any legal
proceeding or for any cause whatsoever, including under any law,
rule or regulation relative to bankruptcy, insolvency, fraudulent
transfers or other relief of debtors, then this Guaranty shall
continue to be effective or shall be revived and reinstated, as
necessary in order to give full effect to the Guarantor's liability
hereunder, to the same extent as if such payment, transfer and/or
receipt had never occurred.
3. Guarantor's Obligations Independent; Statute of
Limitations. The obligations of Guarantor hereunder are independent
of the obligations of Company, and a separate action or actions may
be brought and prosecuted against Guarantor whether action is
brought against Company or whether Company is joined in
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