Lightyear Network Solutions, Inc. Watch

from 8-K 8 pages In Consideration of Chris T. Sullivan (“Lender”) Entering Into the Transactions Contemplated by the Intercompany Obligations Settlement Agreement Dated the Date Hereof by and Among Ly Holdings, LLC (The "Limited Liability Company"), Lightyear Network Solutions, Inc., Lightyear Network Solutions, LLC and as an Inducement to Financial Accommodations Made or to Be Made by Lender to Lightyear Network Solutions, Inc. and Lightyear Network Solutions, LLC (Collectively, “Debtor”), a Substantial Portion of the Equity of Which Is Owned Directly or Indirectly by the Limited Liability Company, and for Other Good and Valuable Consideration the Receipt of Which Is Acknowledged, J. Sherman Henderson (“Guarantor”) Hereby Unconditionally Guarantees Lender the Prompt Payment and Performance of the Following (Hereinafter Collectively Referred to as the “Obligations”): All Loans, Advances, Debts, Liabilities, Obligations, Covenants and Duties Owing to Lender From Debtor of Any Kind or Nature, Present or Future, Arising Under the Term Note Dated as of the Date Hereof Given by Debtor to Lender in the Principal Amount of $6,250,000.00, Including Any Amendments, Modifications, or Superceding Documents to the Foregoing; and All Charges, Expenses, Fees, Including but Not Limited to Reasonable Attorneys’ Fees, and Any Other Sums Chargeable to Debtor Under Any of the Obligations. Notwithstanding the Foregoing, the Maximum Aggregate Liability of the Guarantor Under This Guaranty for the Obligations Shall Not Exceed $6,250,000.00) Plus Interest Accruing on the Guaranteed Indebtedness, and Fees, Charges and Costs of Collecting the Guaranteed Indebtedness, Including Reasonable Attorneys’ Fees (The “Maximum Liability Amount”). the Obligations Under This Agreement Shall Be in Addition to the Maximum Aggregate Liability of Guarantor or Any Other Guarantor to Lender Under Any Guaranty Agreement of Guarantor or Any Other Guarantor Heretofore or Hereafter Given. 1. Nature of Guaranty, Waivers