Guarantor agrees to cause all persons occupying or present on any of its properties to comply in all
material respects with all Laws relating to such properties.
(C) Insurance. Maintain insurance with insurance companies or associations
acceptable to CoBank in such amounts and covering such risks as are usually carried by companies
engaged in the same or similar business and similarly situated.
(D) Litigation. Except as disclosed in the Company’s Application for Credit dated as
of February 9, 2010 (the “Application”), there are no pending legal, arbitration, or governmental actions or
proceedings to which the Guarantor is a party or to which any of its property is subject which, if adversely
determined, could have a material adverse effect on the condition, financial or otherwise, operations,
properties, or business of the Guarantor, or on the ability of the Guarantor to perform its obligations
SECTION 5. Information Regarding Company; Waiver of Notices, Ete. The Guarantor
assumes responsibility for keeping fully informed of the financial condition of the Company, its liability
hereunder and all other circumstances affecting the Company's ability to pay and perform the Guaranteed
Obligations. The Guarantor agrees that CoBank shall have no duty to report to or notify the Guarantor of:
(i) any information which CoBank shall receive about the financial condition of the Company (including
the terms and conditions of the Loan Documents; (iii) the forbearance by CoBank from exercising any right
or remedy it may have under the Loan Documents or under law; (iv) any inability, failure, neglect or
omission to obtain, perfect, maintain, enforce, or realize upon any collateral for the Guaranteed Obligations,
or to pursue or obtain any deficiency judgment against the Company following any foreclosure of any
security interest, mortgage or deed of trust; (v) the loss or impairment of any collateral, the subordination or
Attachment C
GUARANTEE OF PAYMENT
(CONTINUING)
THIS GUARANTEE OF PAYMENT (this "Guaranty") is executed as of February 9, 2010, by
PENNICHUCK CORPORATION, a New Hampshire corporation (hereinafter referred to as the
"Guarantor"), in favor COBANK, ACB (hereinafter referred to as "CoBank").
BACKGROUND
Terms and Conditions:
Expenses:
3
documents will contain the following conditions precedent,
representations and warranties, covenants and events of default:
Origination Fees:
Principal Repayment:
Prepayment:
Capitalization:
Collateral:
Gaurantee:
Documentation:
2
date of the Term Loan; and (3) on no more than 5 separate balances at any
one time.
Interest will be calculated on the actual number of days elapsed on the
basis of a year consisting of 360 days and shall be payable monthly in
arrears by the 20" day of the following month.
None.
Attachment B
SCOBANK sain a oe
_ 3OC-IA2-8072
MMA SCTANK Core
January 15, 2016
Mr. Larry Goodhue, President
Pennichuck Corporation
25 Manchester St.
Nashua, NH 03054
Dear Mr. Goodhue:
Total Capitalization shall mean Total Debt plus Net Worth, except that in determining
Total Capitalization, contributions in aid of construction, advances for construction, customer
deposits, or similar items reducing rate base calculations shall be excluded.
Loan Documents shall mean this Agreement, all Promissory Notes and Supplements, and all
instruments or documents relating to this Agreement or the Promissory Notes and Supplements,
including, without limitation, all applications, certificates, opinions of counsel, mortgages, deeds of
trust, security agreements, guaranties, interest rate risk management agreements (including the [SDA
2002 Master Agreement and all schedules thereto),and pledge agreements.
