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the dates. Paragraph 6.6B provided:
B. The parties contemplate that there shall be to
each of them, as shareholders in * * * [WLI and SCC],
distributions, from time to time, that will otherwise
be effectuated pursuant to the articles and bylaws of
the subject corporations, as well as Florida law. In
that regard, the Husband hereby personally guarantees
to the Wife, the following distributions on or before
the time hereinafter provided * * *
The dates and amounts of the distributions provided as part of
Mr. Hoffman’s guaranty obligation were as follows:
Date Amount
12/31/1994 $100,000
12/31/1996 250,000
12/31/1998 300,000
12/31/2000 400,000
12/31/2002 500,000
12/31/2004 450,000
Total 2,000,000
The remainder of paragraph 6.6B provided:
The parties’ current relationship as shareholders
of * * * [SCC and WLI] as well as the current financing
relationships with the Bank of Boston authorize and
contemplate distributions to the shareholders for the
purpose of paying income taxes on undistributed,
taxable income to the shareholders. None of the
foregoing guaranteed distribuitions [sic] shall be
deemed to be reduced by any distributions to the
shareholders made solely for the purpose of paying
federal income taxes due upon undistributed, taxable
income to said shareholders from the Subchapter S
corporations. It is the intention of this paragraph
that the Husband shall personally guarantee to the
Wife, the distributions as set forth above from the
corporations, on a cumulative basis, on or before the
dates indicated. In the event such distributions are
not made pursuant to the aforementioned paragraph
consistent with the articles and bylaws of the
applicable corporations, then Husband shall be
personally obligated to pay the aforementioned funds to
the Wife, on or before the dates above. In the event
that the Husband is required to personally fund such
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