Supercuts 2002 Annual Report Download - page 130

Notwithstanding any other provision contained in this Guaranty, each Guarantor's liability with respect to the principal amount of the Notes
shall be no greater than the liability of the Company with respect thereto.
SECTION 4. Full Recourse Obligations. The obligations of each Guarantor set forth herein constitute the full recourse obligations of such
Guarantor enforceable against it to the full extent of all its assets and properties.
SECTION 5. Waiver. Each Guarantor unconditionally waives, to the extent permitted by applicable law, (a) notice of any of the matters
referred to in
Section 3, (b) notice to such Guarantor of the incurrence of any of the Obligations, notice to such Guarantor or the Company of any breach or
default by such Company with respect to any of the Obligations or any other notice that may be required, by statute, rule of law or otherwise, to
preserve any rights of the Holders against such Guarantor, (c) presentment to or demand of payment from the Company or the Guarantor with
respect to any amount due under any Note Document or protest for nonpayment or dishonor, (d) any right to the enforcement, assertion or
exercise by any of the Holders of any right, power, privilege or remedy conferred in the Note Purchase Agreement or any other Note Document
or otherwise, (e) any requirement of diligence on the part of any of the Holders,
(f) any requirement to exhaust any remedies or to mitigate the damages resulting from any default under any Note Document, (g) any notice of
any sale, transfer or other disposition by any of the Holders of any right, title to or interest in the Note Purchase Agreement or in any other Note
Document and (h) any other circumstance whatsoever which might otherwise constitute a legal or equitable discharge, release or defense of a
guarantor or surety or which might otherwise limit recourse against such Guarantor.
SECTION 6. Subrogation, Contribution, Reimbursement or Indemnity. Until one year and one day after all Obligations have been indefeasibly
paid in full, each Guarantor agrees not to take any action pursuant to any rights which may have arisen in connection with this Guaranty to be
subrogated to any of the rights (whether contractual, under the United States Bankruptcy Code, as amended, including Section 509 thereof,
under common law or otherwise) of any of the Holders against the Company or against any collateral security or guaranty or right of offset
held by the Holders for the payment of the Obligations. Until one year and one day after all Obligations have been indefeasibly paid in full,
each Guarantor agrees not to take any action pursuant to any contractual, common law, statutory or other rights of reimbursement, contribution,
exoneration or indemnity (or any similar right) from or against the Company which may have arisen in connection with this Guaranty. So long
as the Obligations remain, if any amount shall be paid by or on behalf of the Company to any Guarantor on account of any of the rights waived
in this paragraph, such amount shall be held by such Guarantor in trust, segregated from other funds of such Guarantor, and shall, forthwith
upon receipt by such Guarantor, be turned over to the Holders (duly endorsed by such Guarantor to the Holders, if required), to be applied
against the Obligations, whether matured or unmatured, in such order as the Holders may determine. The provisions of this paragraph shall
survive the term of this Guaranty and the payment in full of the Obligations.
4
Exhibit 1(c)