Name and address of Guarantor:
FID#
A. Pursuant to the terms of a security agreement and
promissory note each dated and any other agreements related thereto
(collectively, the “Agreements) which have been or will be
entered Startek Canada Services, Ltd. (hereinafter the
“Obligor”), with, or in favor of, Wells Fargo Equipment
Finance Company (hereinafter, the “Obligee”), Obligor
has incurred, will incur or may incur indebtedness and /or
obligations to Obligee as more fully set forth in the
Agreements.
B. Obligee has required, as a condition of entering into the
Agreements, that the payment and performance of all indebtedness
and obligations of Obligor to Obligee of every kind and
description, direct or indirect, primary or secondary, absolute or
contingent or due or to become due, whether by acceleration or
otherwise, and any and all renewals, modifications, supplements,
amendments and extensions of the foregoing, whether now or
thereafter arising under or in connection with the Agreements, (all
of such indebtedness and obligations being hereinafter referred to
as the “Indebtedness”), be guaranteed by
Guarantor.
1. Guaranty of Payment. In order to induce Obligee to
enter into the Agreements and to advance the loans or pay for
equipment in connection therewith and for other good and valuable
consideration the receipt and sufficiency of which is hereby
acknowledged by Guarantor, Guarantor hereby unconditionally
guarantees to Obligee (a) the due and punctual payment of the
Indebtedness, when and as the same shall become due and payable
whether at maturity or by required prepayment, notice of optional
prepayment, acceleration or otherwise and (b) the due and
punctual performance of all other obligations arising under or
relating to the Indebtedness. Such guaranty is an absolute,
unconditional, continuing guaranty of payment and not of
collectibility, and is in no way conditioned or contingent upon any
attempt to collect from Obligor or from any other person, firm or
corporation obligated with respect to, or any guarantor of, the
Indebtedness or upon any other condition or contingency. In case
Obligor shall fail to pay punctually any of the Indebtedness, or
any premium or interest thereon, when and as the same shall become
due and payable, Guarantor will upon demand immediately pay the
same to Obligee.
2. Costs and Expenses. Guarantor will pay all costs
and expenses incurred by or on behalf of Obligee (including,
without limitation, reasonable attorneys’ fees and expenses)
in enforcing the obligations of Guarantor hereunder, and the
obligations of Obligor with respect to the Indebtedness.
3. Obligations of Guarantor Not Affected. The
obligations of Guarantor shall remain in full force and effect
without regard to and shall not be affected or impaired in any
respect by: (a) any assignment, transfer, amendment,
modification, rescission or cancellation of or addition or
supplement to the Agreements or any other agreement or guaranty in
respect of the Indebtedness or collateral held for the
Indebtedness; (b) the invalidity, illegality or
unenforceability of the Agreements or any other agreement or
guaranty in respect of the Indebtedness or collateral held for the
Indebtedness; (c) any exercise, non-exercise, waiver, release
or cancellation by Obligee of any right, remedy, power or privilege
under or in respect of the Agreements or any other agreement or
guaranty in respect of the Indebtedness or collateral held for the
Indebtedness, including, without limitation, the taking, release,
discharge, exchange, surrender or disposition of collateral held
for the Indebtedness; (d) any consent, extension, indulgence,
or other action, inaction or omission under or in respect of the
Agreements or any other agreement or guaranty in respect of
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