Document:

Exhibit 10.82

 

JOINT AND SEVERAL

HAZARDOUS MATERIAL

GUARANTY AND INDEMNIFICATION AGREEMENT

 

	
  New York, New
  York

  
	
  As of
  January 30, 2004

  

 

WHEREAS, MORGAN STANLEY
DEAN WITTER COMMERCIAL FINANCIAL SERVICES, INC., a Delaware corporation, having
an office at 825 Third Avenue, New York, New York 10022 (the “Lender”)
has agreed to make one or more advances under a line of credit  to S&W OF LAS VEGAS, L.L.C., a Delaware
limited liability company, having an office at c/o The Smith & Wollensky
Restaurant Group, Inc., 1114 First Avenue, New York, New York 10021 (the “Borrower”),
which line of credit will be (a) evidenced by the Note, (b) secured by, among
other things, the Deed of Trust and (c) advanced pursuant to the Loan
Agreement, all as defined in Exhibit A attached hereto (the “Line of
Credit”); and

 

WHEREAS, the Lender is
willing to enter into the Loan Agreement and to make available the Line of
Credit to the Borrower only if the undersigned executes and delivers this Joint
and Several Hazardous Material Guaranty and Indemnification Agreement (this “Guaranty and
Indemnification Agreement”).

 

NOW, THEREFORE, in
consideration of the premises and other good and valuable consideration, the
receipt and legal sufficiency of which are hereby acknowledged, and in order to
induce the Lender to enter into the Loan Agreement and to make Advances (as
defined in Exhibit A hereto) thereunder, the undersigned hereby acknowledges,
agrees and confirms that all of the above recitals are true, correct and
complete and hereby covenants and agrees with the Lender as follows:

 

1.                                       For
the purposes of this Guaranty and Indemnification Agreement the following terms
shall have the following meanings:

 

(a)                                  the
term “Hazardous
Material” shall mean any material or substance that, whether by its
nature or use, is now or hereafter defined as hazardous waste, hazardous
substance, pollutant or contaminant under any Environmental Requirement, or
which is toxic, explosive, corrosive, flammable, infectious, radioactive,
carcinogenic, mutagenic or otherwise hazardous and which is now or hereafter
regulated under any Environmental Requirement, or which is or contains
petroleum, gasoline, diesel fuel or another petroleum hydrocarbon product;

 

(b)                                 the
term “Environmental
Requirements” shall collectively mean all present and future laws,
statutes, ordinances, rules, regulations, orders, codes, licenses, permits,
decrees, judgments, directives or the equivalent of or by any Governmental
Authority and relating to or addressing the protection of the environment or
human health;

 

 

(c)                                  the
term “Governmental
Authority” shall mean the Federal government, or any state or other
political subdivision thereof, or any agency, court or body of the Federal
government, any state or other political subdivision thereof, exercising
executive, legislative, judicial, regulatory or administrative functions;

 

(d)                                 the
term “Trust
Property” shall have the meaning given to such term in the Deed of
Trust, and shall include, for purposes of this Guaranty and Indemnification
Agreement, the land comprising the Premises (as defined in the Deed of Trust);
and

 

(e)                                  the
term “Debt”
shall mean all principal, interest, additional interest (including specifically
all interest accruing from and after the commencement of any case, proceeding
or action under any existing or future laws relating to bankruptcy, insolvency
or similar matters with respect to the Borrower) and other sums of any nature
whatsoever which may or shall become due and payable pursuant to the provisions
of the Note, the Deed of Trust, the Loan Agreement, or any other document or
instrument now or hereafter executed and/or delivered in connection therewith
or otherwise with respect to the Line of Credit (said Note, Deed of Trust, Loan
Agreement and other documents and instruments being, collectively, the “Loan
Documents”) [all of the above unaffected by modification thereof in
any bankruptcy or insolvency proceeding], and even though the Lender may not
have an allowed claim for the same against the Borrower as a result of any bankruptcy
or insolvency proceeding.

 

2.                                       The
undersigned hereby represents and warrants to the Lender that to the best of
the undersigned’s knowledge:

 

(a)                                  except
as set forth in the Phase I Environmental Site Assessment dated
October 19, 1994 prepared by Terracon Consultants Western, Inc.
(heretofore reviewed by the Lender or its consultant), no Hazardous Material is
currently located at, on, in, under or about the Trust Property in violation of
any Environmental Requirements;

 

(b)                                 no
releasing, emitting, discharging, leaching, dumping or disposing of any
Hazardous Material from the Trust Property onto or into any other property or
from any other property onto or into the Trust Property has occurred or is
occurring in violation of any Environmental Requirement;

 

(c)                                  no
notice of violation, lien, complaint, suit, order or other notice with respect
to the Trust Property is presently outstanding under any Environmental
Requirement; and

 

(d)                                 the
Trust Property and the operation thereof are in full compliance with all
Environmental Requirements.

 

3.                                       The
undersigned absolutely and unconditionally guarantees to the Lender that the
Borrower will fully comply with all of the terms, covenants and provisions of
paragraph 9 of the

 

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Deed of Trust (titled,
“Environmental Provisions”).  If the
Borrower does not fully comply with all of the terms, covenants and provisions
of paragraph 9 of the Deed of Trust, the undersigned shall reimburse the Lender
upon demand for all sums and costs and expenses incurred by the Lender to the
extent not otherwise reimbursed to the Lender by the Borrower pursuant to said
paragraph in the Deed of Trust and/or in connection with the Lender performing
the Borrower’s obligations as set forth in paragraph 9 of the Deed of Trust
(including specifically all such sums and interest thereon accruing from and
after the commencement of any case, proceeding or action under any existing or
future laws relating to bankruptcy, insolvency or similar matters with respect
to the Borrower), it being understood and agreed that, the undersigned’s
obligations hereunder shall be unaffected by modification of any of the
Borrower’s obligations in any bankruptcy or insolvency proceeding, nor by the
fact that the Lender may not have an allowed claim for the same against the
Borrower as a result of any bankruptcy or insolvency proceeding.

 

4.                                       The
undersigned will defend, indemnify, and hold harmless the Lender its employees,
agents, officers, and directors, from and against any and all claims, demands,
penalties, causes of action, fines, liabilities, settlements, damages, costs,
or expenses of whatever kind or nature, known or unknown, foreseen or
unforeseen, contingent or otherwise (including, without limitation, counsel and
consultant fees and expenses, investigation and laboratory fees and expenses,
court costs, and litigation expenses) arising out of, or in any way related to:

 

(a)                                  any
breach by the Borrower of any of the provisions of paragraph 9 of the Deed of
Trust;

 

(b)                                 the
presence, disposal, spillage, discharge, emission, leakage, release, or
threatened release of any Hazardous Material which is at, in, on, under, about,
from or affecting the Trust Property, including, without limitation, any damage
or injury resulting from any such Hazardous Material to or affecting the Trust
Property or the soil, water, air, vegetation, buildings, personal property,
persons or animals located on the Trust Property or on any other property or
otherwise;

 

(c)                                  any
personal injury (including wrongful death) or property damage (real or
personal) arising out of or related to any such Hazardous Material;

 

(d)                                 any
lawsuit brought or threatened, settlement reached, or order or directive of or
by any Governmental Authority relating to such Hazardous Material; or

 

(e)                                  any
violation of any Environmental Requirement.

 

5.                                       The
undersigned hereby indemnifies and shall hold harmless and defend the Lender at
the undersigned’s sole cost and expense against any loss or liability, cost or
expense (including, but not limited to, reasonable attorneys’ fees and
disbursements of the Lender’s counsel, whether in-house staff, retained firms
or otherwise), and all claims, actions, procedures

 

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and suits arising out of
or in connection with:

 

(a)                                  any
ongoing matters arising out of this Guaranty and Indemnification Agreement and
any document or instrument now or hereafter executed and/or delivered in
connection herewith (the “Indemnity Documents”);

 

(b)                                 any
amendment to, or restructuring of the obligations of the undersigned hereunder;
and

 

(c)                                  any
and all lawful action that may be taken by the Lender in connection with the
enforcement of the provisions of this Guaranty and Indemnification Agreement or
any of the other Indemnity Documents and the obligations of the undersigned
thereunder, whether or not suit is filed in connection with the same, or in
connection with the Borrower, either of the undersigned and/or any partner,
joint venturer or shareholder thereof becoming a party to a voluntary or
involuntary federal or state bankruptcy, insolvency or similar proceeding.

 

All sums expended by the
Lender shall be payable within five (5) days after written demand and, until
reimbursed by the undersigned pursuant hereto, shall bear interest at the
default interest rate set forth in the Note.

 

6.                                       In
addition to any right available to the Lender under applicable law or any other
agreement, the undersigned hereby gives to the Lender a continuing lien on,
security interest in and right of set-off against all moneys, securities and
other property of the undersigned and the proceeds thereof, now on deposit or
now or hereafter delivered, remaining with or in transit in any manner to the
Lender, its affiliates, correspondents, participants or its agents from or for
the undersigned (other than separate accounts maintained exclusively for
payroll or taxes), whether for safekeeping, custody, pledge, transmission,
collection or otherwise or coming into possession of the Lender in any way, and
also, any balance of any deposit or brokerage account and credits of the
undersigned with, and any and all claims of the undersigned against, the Lender
or any such affiliate, correspondent, participant or agent, at any time
existing, as collateral security for all of the obligations of the undersigned
under this Guaranty and Indemnification Agreement, including fees, contracted
with or acquired by the Lender, whether joint, several, absolute, contingent,
secured, matured or unmatured (for the purposes of this paragraph 6 and
paragraphs 8, 10 and 18 below, collectively, the “Liabilities”), hereby
authorizing the Lender at any time or times, without prior notice, to apply
such balances, credits or claims, or any part thereof, to such Liabilities in
such amounts as it may select, whether contingent, unmatured or otherwise and
whether any collateral security therefore is deemed adequate or not.  The collateral security described herein
shall be in addition to any collateral security described in any separate
agreement executed by either or both of the undersigned.  The Lender, in addition to any right
available to it under applicable law or any other agreement, shall have the
right, at its option, to immediately set off against any Liabilities all monies
owed by the Lender in any capacity to either or both of the undersigned,
whether or not due, and the Lender shall, at its option, be

 

4

 

deemed to have exercised
such right to set off and to have made a charge against any such money
immediately upon the occurrence of any events of default set forth below, even
though such charge is made or entered on the books of the Lender subsequent to
those events.

 

7.                                       The
obligations and liabilities of the undersigned under this Guaranty and
Indemnification Agreement shall survive and continue in full force and effect
and shall not be terminated, discharged or released, in whole or in part,
irrespective of whether the Debt has been paid in full and irrespective of any
foreclosure of the Deed of Trust, sale of the Trust Property pursuant to the
provisions of the Deed of Trust or acceptance by the Lender, its nominee or
wholly-owned subsidiary of a deed or assignment in lieu of foreclosure or sale
and irrespective of any other fact or circumstance of any nature whatsoever.

 

8.                                       The
undersigned hereby expressly agrees that this Guaranty and Indemnification
Agreement is independent of, and in addition to, all collateral granted,
pledged or assigned under the Loan Documents, and the undersigned hereby
consents that from time to time, before or after any default by the Borrower,
with or without further notice to or assent from either of the undersigned:

 

(a)                                  any
security at any time held by or available to the Lender for any obligation of
the Borrower, or any security at any time held by or available to the Lender
for any obligation of any other person or party primarily, secondarily or
otherwise liable for all or any portion of the Debt, any other Liabilities
and/or any other obligations of the Borrower or any other person or party,
other than the Lender, under any of the Loan Documents (“Other Obligations”),
including any guarantor of the Debt, the Liabilities and/or of any of such
Other Obligations, may be accelerated, settled, exchanged, surrendered or
released and the Lender may fail to set off and may release, in whole or in
part, any balance of any deposit account or credit on its books in favor of the
Borrower, or any such other person or party;

 

(b)                                 any
obligation of the Borrower, or of any such other person or party, may be
changed, altered, renewed, extended, continued, accelerated, surrendered,
compromised, settled, waived or released in whole or in part, or any default
with respect thereto waived; and

 

(c)                                  the
Lender may extend further credit in any manner whatsoever to the Borrower, and
generally deal with the Borrower or any of the abovementioned security, deposit
account, credit on its books or other person or party as the Lender may see
fit;

 

and the undersigned shall
remain bound under this Guaranty and Indemnification Agreement, without any
loss of rights by the Lender and without affecting the liability of the
undersigned, notwithstanding any such exchange, surrender, release, change,
alteration, renewal, extension, continuance, compromise, waiver, inaction,
extension of further credit or other dealing. 
In addition, all moneys available to the Lender for application in
payment or reduction of the Debt, the Liabilities and/or any Other Obligations
may be applied by the Lender in such manner and in

 

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such amounts and at such
time or times and in such order, priority and proportions as the Lender may see
fit.

 

9.                                       The
undersigned hereby waives:

 

(a)                                  notice
of acceptance of this Guaranty and Indemnification Agreement;

 

(b)                                 protest
and notice of dishonor or default to either or both of the undersigned or to
any other person or party with respect to any obligations hereby guaranteed;

 

(c)                                  all
other notices to which either or both of the undersigned might otherwise be
entitled; and

 

(d)                                 any
demand under this Guaranty and Indemnification Agreement.

 

10.                                 If
any of the following events should occur:

 

(a)                                  either
or both of the undersigned defaults under any of the Loan Documents and its
continuance beyond any applicable notice and/or grace period therein contained;
or

 

(b)                                 either
or both of the undersigned violates any provision of this Guaranty and
Indemnification Agreement or any other guaranty or other agreement executed by
them with respect to the Line of Credit or this Guaranty and Indemnification
Agreement;

 

then, and in such event,
the Lender may declare the Liabilities to be, and the same shall become,
immediately due and payable and/or may exercise either or both of its remedies
as set forth herein or at law or in equity.

 

11.                                 This
is a guaranty of payment and not of collection and the undersigned further
waives any right to require that any action be brought against the Borrower or
any other person or party or to require that resort be had to any security or
to any balance of any deposit account or credit on the books of the Lender in
favor of the Borrower or any other person or party.  Any payment on account of or reacknowledgement of the Debt by the
Borrower, or any other party liable therefor or action taken, payment or
reacknowledgement made, or any of the obligations of the Borrower under
paragraph 9 of the Deed of Trust or otherwise with respect to any Environmental
Requirements or to the Lender in connection therewith, shall be deemed to be
taken or made on behalf of the undersigned and shall serve to start anew the
statutory period of limitations applicable to the obligations of the Borrower
and/or the undersigned pursuant to said paragraph 9 of the Deed of Trust hereunder
or otherwise with respect to any Environmental Requirement or to the Lender in
connection therewith or herewith.

 

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12.                                 Each
reference herein to the Lender shall be deemed to include its successors and assigns,
in whose favor the provisions of this Guaranty and Indemnification Agreement
shall also inure.  Each reference herein
to the undersigned shall be deemed to include the heirs, executors,
administrators, legal representatives, successors and assigns of the
undersigned, all of whom shall be bound by the provisions of this Guaranty and
Indemnification Agreement, provided, however, that the undersigned shall in no
event nor under any circumstance have the right, without obtaining the prior
written consent of the Lender, to assign or transfer the undersigned’s
obligations and liabilities under this Guaranty and Indemnification Agreement,
in whole or in part, to any other person, party or entity.

 

13.                                 The
term “undersigned”
as used herein shall, if this Guaranty and Indemnification Agreement is signed
by more than one party, unless otherwise stated herein, mean the “undersigned
and each of them” and each undertaking herein contained shall be their joint
and several undertaking.  If the
Guaranty is signed by more than one party, all singular references to the
undersigned shall be deemed to be plural. 
The Lender may proceed against none, one or more of the undersigned at
one time or from time to time as it sees fit in its sole and absolute
discretion.  If any party hereto shall
be a partnership, the agreements and obligations on the part of the undersigned
herein contained shall remain in force and application notwithstanding any
changes in the individuals composing the partnership and the term “undersigned”
shall include any altered or successive partnerships but the predecessor
partnerships and their partners shall not thereby be released from any
obligations or liability hereunder.  If
any party hereto shall be a corporation, the agreements and obligations on the
part of the undersigned herein contained shall remain in force and application
notwithstanding the merger, consolidation, reorganization or absorption
thereof, and the term “undersigned” shall include such new entity, but the old
entity shall not thereby be released from any obligations or liabilities
hereunder.  The Borrower is executing
this Guaranty and Indemnification Agreement as a further assurance that its
obligations set forth herein will remain in full force and effect,
notwithstanding the assignment or discharge of record of the Deed of Trust or
any other fact or circumstances whatsoever.

 

14.                                 No
delay on the part of the Lender in exercising any right or remedy under this
Guaranty and Indemnification Agreement or failure to exercise the same shall
operate as a waiver in whole or in part of any such right or remedy.  No notice to or demand on either or both of
the undersigned shall be deemed to be a waiver of the obligation of either or
both of the undersigned or of the right of the Lender to take further action
without notice or demand as provided in this Guaranty and Indemnification
Agreement.  No course of dealing between
either of the undersigned and the Lender shall change, modify or discharge, in
whole or in part, this Guaranty and Indemnification Agreement or any
obligations of the undersigned hereunder.

 

15.                                 This
Guaranty and Indemnification Agreement may only be modified, amended, changed
or terminated by an agreement in writing signed by the Lender and the
undersigned.  No waiver of any term,
covenant or provision of this Guaranty and Indemnification Agreement shall

 

7

 

be effective unless given
in writing by the Lender and if so given by the Lender shall only be effective
in the specific instance in which given. 
The execution and delivery hereafter to the Lender by either or both of
the undersigned of a new instrument of guaranty or any reaffirmation of
guaranty, of whatever nature, shall not terminate, supersede or cancel this
instrument, unless expressly so provided therein, and all rights and remedies
of the Lender hereunder or under any instrument of guaranty hereafter executed
and delivered to the Lender by either or both of the undersigned shall be
cumulative and may be exercised singly or concurrently.

 

16.                                 The
undersigned acknowledges that this Guaranty and Indemnification Agreement and
the undersigned’s obligations under this Guaranty and Indemnification Agreement
are and shall at all times continue to be absolute, irrevocable and unconditional
in all respects, and shall at all times be valid and enforceable irrespective
of any other agreements or circumstances of any nature whatsoever which might
otherwise constitute a defense to this Guaranty and Indemnification Agreement
and the obligations of either or both of the undersigned under this Guaranty
and Indemnification Agreement or the obligations of any other person or party
(including, without limitation, the Borrower) relating to this Guaranty and
Indemnification Agreement or the obligations of either or both of the
undersigned hereunder or otherwise with respect to the Debt, including, but not
limited to, a foreclosure of the Deed of Trust or the realization upon any
other collateral given, pledged or assigned as security for all or any portion
of the Debt, or the filing of a petition under Title 11 of the United States
Code with regard to the Borrower or either or both of the undersigned, or the
commencement of an action or proceeding for the benefit of the creditors of the
Borrower or the undersigned, or the obtaining by the Lender of title to,
respectively, the Trust Property or to any collateral given, pledged or
assigned as security for the Debt by reason of the foreclosure or enforcement
of the Deed of Trust or any other pledge or security agreement, the acceptance
of a deed or assignment in lieu of foreclosure or sale, or otherwise.  This Guaranty and Indemnification Agreement
sets forth the entire agreement and understanding of the Lender and the
undersigned with respect to the matters covered by this Guaranty and
Indemnification Agreement, and the undersigned acknowledges that no oral or
other agreements, understandings, representations or warranties exist with
respect to this Guaranty and Indemnification Agreement or with respect to the
obligations of the undersigned under this Guaranty and Indemnification
Agreement, except those specifically set forth in this Guaranty and
Indemnification Agreement.

 

17.                                 This
Guaranty and Indemnification Agreement has been validly authorized, executed
and delivered by the undersigned.  The
undersigned represents and warrants to the Lender that it has the corporate or
other organizational power to do so and to perform its obligations under this
Guaranty and Indemnification Agreement. 
The undersigned represents and warrants to the Lender that this Guaranty
and Indemnification Agreement constitutes the legally binding obligation of the
undersigned fully enforceable against the undersigned in

 

8

 

accordance with the terms
hereof.  The undersigned further
represents and warrants to the Lender that:

 

(a)                                  neither
the execution and delivery of this Guaranty and Indemnification Agreement nor
the consummation of the transactions contemplated hereby nor compliance with
the terms and provisions hereof will violate any applicable provision of law or
any applicable regulation or other manifestation of governmental action; and

 

(b)                                 all
necessary approvals, consents, licenses, registrations and validations of any governmental
regulatory body, including, without limitation, approvals required to permit
the undersigned to execute and carry out the provisions of this Guaranty and
Indemnification Agreement, for the validity of the obligations of the
undersigned hereunder and for the making of any payment or remittance of any
funds required to be made by the undersigned under this Guaranty and
Indemnification Agreement, have been obtained and are in full force and effect.

 

18.                                 Notwithstanding
any payments made by either or both of the undersigned pursuant to the
provisions of this Guaranty and Indemnification Agreement, the undersigned
irrevocably waives all rights to enforce or collect upon any rights which it
now has or may acquire against the Borrower either by way of subrogation,
indemnity, reimbursement or contribution for any amount paid under this
Guaranty and Indemnification Agreement or by way of any other obligations
whatsoever of the Borrower to either or both of the undersigned, nor shall
either or both of the undersigned file, assert or receive payment on any claim,
whether now existing or hereafter arising, against the Borrower in the event of
the commencement of a case by or against the Borrower under Title 11 of the
United States Code.  In the event either
a petition is filed under said Title 11 of the United States Code with regard
to the Borrower or an action or proceeding is commenced for the benefit of the
creditors of the Borrower, this Guaranty and Indemnification Agreement shall at
all times thereafter remain effective in regard to any payments or other
transfers of assets to the Lender received from or on behalf of the Borrower
prior to notice of termination of this Guaranty and Indemnification Agreement
and which are or may be held voidable on the grounds of preference or fraud,
whether or not the Debt has been paid in full. 
Any payment on account of or reacknowledgment of the Debt by the
Borrower, or any other party liable therefor, or action taken, or payment or
reacknowledgment made, of any of the obligations of the Borrower to take and
complete the actions specified in paragraph 9 of the Deed of Trust shall serve
to start anew the statutory period of limitations applicable to the Borrower
with respect to said paragraph 9 and the undersigned hereunder.  The provisions of this paragraph 18 shall
survive the term of this Guaranty and the payment in full of the Debt and all
other Liabilities.

 

19.                                 Any
notice, request or demand given or made under this Guaranty and Indemnification
Agreement shall be in writing and shall be given in the manner and to the
notice parties set forth in the Loan Agreement.

 

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20.                                 This
Guaranty and Indemnification Agreement is, and shall be deemed to be, a
contract entered into under and pursuant to the laws of the State of New York
and shall be in all respects governed, construed, applied and enforced in
accordance with the laws of the State of New York without regard to principles
of conflicts of laws.  The undersigned
acknowledges and agrees that this Guaranty and Indemnification Agreement is,
and is intended to be, an instrument for the payment of money only, as such
phrase is used in §3213 of the Civil Practice Law and Rules of the State of New
York, and the undersigned has been fully advised by its counsel of the Lender’s
rights and remedies pursuant to said §3213.

 

21.                                 The
undersigned agrees to submit to personal jurisdiction in the State of New York
in any action or proceeding arising out of this Guaranty and Indemnification Agreement.  In furtherance of such agreement, the
undersigned hereby agrees and consents that without limiting other methods of
obtaining jurisdiction, personal jurisdiction over the undersigned in any such
action or proceeding may be obtained within or without the jurisdiction of any
court located in New York and that any process or notice of motion or other
application to any such court in connection with any such action or proceeding
may be served upon the undersigned by registered or certified mail to, or by
personal service at, the last known address of the undersigned, whether such
address be within or without the jurisdiction of any such court.  The undersigned hereby further agrees that
the venue of any litigation arising in connection with the Debt or in respect
of any of the obligations of the undersigned under this Guaranty and
Indemnification Agreement, shall, to the extent permitted by law, be in New
York County.  Nothing in this paragraph
shall limit the right of the Lender to bring an action or proceeding arising
out of this Guaranty and Indemnification Agreement in any other jurisdiction.

 

22.                                 The
undersigned absolutely, unconditionally and irrevocably waives any and all
right to assert or interpose any defense, setoff, counterclaim or crossclaim of
any nature whatsoever with respect to this Guaranty and Indemnification
Agreement or the obligations of the undersigned under this Guaranty and
Indemnification Agreement, or the obligations of any other person or party
(including, without limitation, the Borrower) relating to this Guaranty and
Indemnification Agreement, or the obligations of the undersigned hereunder or
otherwise with respect to the Line of Credit in any action or proceeding
brought by the Lender to collect the Debt, or any portion thereof, or to
enforce the obligations of the undersigned under this Guaranty and
Indemnification Agreement (provided, however, that the foregoing shall not be
deemed a waiver of the right of the undersigned to assert any compulsory
counterclaim maintained in a court of the United States, or of the State of New
York if such counterclaim is compelled under local law or rule of procedure,
nor shall the foregoing be deemed a waiver of the right of the undersigned to
assert any claim which would constitute a defense, setoff, counterclaim or
crossclaim of any nature whatsoever against the Lender in any separate action
or proceeding).  The undersigned hereby
undertakes and agrees that this Guaranty shall remain in full force and effect
for all of the obligations and liabilities of the undersigned hereunder,
notwithstanding the maturity of the Advances or termination of the Commitment
(as defined in the Loan Agreement), whether by acceleration, scheduled maturity
or otherwise.

 

10

 

23.                                 No
exculpatory provisions which may be contained in any Loan Document shall in any
event or under any circumstances be deemed or construed to modify, qualify, or
affect in any manner whatsoever the obligations and liabilities of the undersigned
under this Guaranty and Indemnification Agreement.

 

24.                                 The
obligations and liabilities of the undersigned under this Guaranty and
Indemnification Agreement are in addition to the obligations and liabilities of
the undersigned under the Other Guaranties (as hereinafter defined).  The discharge of either or both of the
undersigned’s obligations and liabilities under any one or more of the Other
Guaranties by the undersigned or by reason of operation of law or otherwise
shall in no event or under any circumstance constitute or be deemed to
constitute a discharge, in whole or in part, of the undersigned’s obligations
and liabilities under this Guaranty and Indemnification Agreement.  Conversely, the discharge of either or both
of the undersigned’s obligations and liabilities under this Guaranty and
Indemnification Agreement by the undersigned or by reason of operation of law
or otherwise shall in no event or under any circumstance constitute or be
deemed to constitute a discharge, in whole or in part, of the undersigned’s
obligations and liabilities under any of the Other Guaranties.  The term “Other Guaranties” as used
herein shall mean any other guaranty of payment, guaranty of performance,
completion guaranty, indemnification agreement or other guaranty or instrument
creating any obligation or undertaking of any nature whatsoever (other than
this Guaranty and Indemnification Agreement) now or hereafter executed and
delivered by either or both of the undersigned to the Lender in connection with
the Line of Credit.

 

25.                                 This
Guaranty and Indemnification Agreement may be executed in one or more
counterparts by some or all of the parties hereto, each of which counterparts
shall be an original and all of which together shall constitute a single
agreement of guaranty.  The failure of
any party listed below to execute this Guaranty and Indemnification Agreement,
or any counterpart hereof, or the ineffectiveness for any reason of any such
execution, shall not relieve the other signatories from their obligations hereunder.

 

26.                               The
undersigned hereby irrevocably and unconditionally waives, and the Lender by
its acceptance of this Guaranty and Indemnification Agreement irrevocably and
unconditionally waives, any and all right to trial by jury in any action, suit
or counterclaim arising in connection with, out of or otherwise relating to
this Guaranty and Indemnification Agreement.

 

11

 

IN WITNESS WHEREOF, the
undersigned have duly executed this Guaranty and Indemnification Agreement the
day and year first above set forth.

 

	
   

  	
  S&W OF LAS VEGAS,
  L.L.C.

  
	
   

  	
   

  	
  By:  The Smith & Wollensky Restaurant

  Group, Inc., Sole Member

  
	
   

  	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Alan M. Mandel

  	
   

  
	
   

  	
   

  	
  Name: Alan M. Mandel

  
	
   

  	
   

  	
  Title:   Secretary

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  THE SMITH &
  WOLLENSKY

  RESTAURANT GROUP, INC.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Alan M. Mandel

  	
   

  
	
   

  	
   

  	
  Name: Alan M. Mandel

  
	
   

  	
   

  	
  Title:   Secretary

  
	
   

  	
   

  	
   

  

 

 

 

	
  STATE OF NEW YORK

  	
  )

  
	
   

  	
  ss.:

  
	
  COUNTY OF NEW YORK

  	
  )

  

 

 

On the 30th day of
January in the year 2004 before me, the undersigned, a Notary Public in and for
said State, personally appeared Alan M. Mandel, personally known to me or
proved to me on the basis of satisfactory evidence to be the individual whose
name is subscribed to the within instrument and acknowledged to me that he
executed the same in his capacity, and that by his signature on the instrument,
the individual, or the person upon behalf of which the individual acted,
executed the instrument.

 

 

	
   

  	
   

  	
   

  	
  /s/ Maria A. Chang

  	
   

  
	
   

  	
   

  	
   

  	
  Maria A. Chang

  	
   

  
	
   

  	
   

  	
   

  	
  Notarized

  	
   

  
	
   

  	
   

  	
   

  	
  Notary Public

  	
   

  

 

 

	
  STATE OF NEW YORK

  	
  )

  
	
   

  	
  ss.:

  
	
  COUNTY OF NEW YORK

  	
  )

  

 

On the 30th day of
January in the year 2004 before me, the undersigned, a Notary Public in and for
said State, personally appeared Alan M. Mandel, personally known to me or
proved to me on the basis of satisfactory evidence to be the individual whose
name is subscribed to the within instrument and acknowledged to me that he
executed the same in his capacity, and that by his signature on the instrument,
the individual, or the person upon behalf of which the individual acted,
executed the instrument.

 

 

	
   

  	
   

  	
   

  	
  /s/ Maria A. Chang

  	
   

  
	
   

  	
   

  	
   

  	
  Maria A. Chang

  	
   

  
	
   

  	
   

  	
   

  	
  Notarized

  	
   

  
	
   

  	
   

  	
   

  	
  Notary Public

  	
   

  

 

 

 

EXHIBIT A

 

Advances:  The term “Advances” as used in this
Guaranty and Indemnification Agreement shall have the meaning assigned to such
term in the Loan Agreement.

 

Deed of Trust:
The term “Deed
of Trust” as used in this Guaranty and Indemnification Agreement
shall have the meaning assigned to such term in the Loan Agreement.

 

Loan Agreement:  The term “Loan Agreement” as used in
this Guaranty and Indemnification Agreement shall mean that certain Line of
Credit Agreement, of even date herewith, entered into among the Borrower, The
Smith & Wollensky Restaurant Group, Inc. and the Lender, together with any
and all modifications, supplements, replacement or substitutions therefor as
may exist from time to time.

 

Note:  The term “Note” as used in this
Guaranty and Indemnification Agreement shall mean the Promissory Note, of even
date herewith, referred to in the Loan Agreement, together with any and all
modifications, supplements, replacements or substitutions therefor as may exist
from time to time.Exhibit
10.83

 

PROMISSORY NOTE

 

	
  $2,000,000

  	
   

  	
  As of
  January 30, 2004

  

 

FOR VALUE RECEIVED,  S&W OF LAS VEGAS, L.L.C., a Delaware
limited liability company, having an office at c/o The Smith & Wollensky
Restaurant Group, Inc., 1114 First Avenue, New York, New York 10021 (the “Borrower”),
hereby unconditionally promises to pay to the order of MORGAN STANLEY DEAN
WITTER COMMERCIAL FINANCIAL SERVICES, INC., a Delaware corporation, as lender,
having an address at 825 Third Avenue, New York, New York 10022 (the “Lender”),
or at such other place as the holder hereof may from time to time designate in
writing, the principal sum of TWO MILLION AND NO/100 DOLLARS ($2,000,000), or,
if less than such principal amount, the aggregate unpaid principal amount of
all Advances (as defined in the Line of Credit Agreement, of even date herewith
by and between the Borrower and the Lender (as the same may be amended,
supplemented or otherwise modified, the “Loan Agreement”), in lawful
money of the United States of America with interest thereon to be computed from
the date of this Note (this “Note”) at the rate determined in accordance
with the Basic Loan Terms portion of the Loan Agreement (as such rate may
increase pursuant to the terms of the Loan Agreement), and to be paid in accordance
with the terms of this Note and the Loan Agreement.  All capitalized terms not defined herein shall have the
respective meanings set forth in the Loan Agreement.

 

ARTICLE 1 - PAYMENT TERMS

 

This Note is the Note
referred to in the Loan Agreement and is subject to the terms and provisions of
the Loan Agreement including, without limitation, the said Basic Loan Terms and
Article II.  All payments hereunder
shall become due and payable as set forth in the Loan Agreement.  Among other things, any outstanding balance
of the principal sum of this Note and all accrued and unpaid interest thereon
shall be due and payable on the Termination Date.  All Advances made by the Lender to the Borrower under the Loan
Agreement shall be recorded by the Lender and endorsed on the grid
schedule attached hereto (or a similar record maintained by the Lender).

 

ARTICLE 2 - DEFAULT AND
ACCELERATION

 

The Advances shall
without notice become due and payable at the option of the Lender (or
immediately upon the occurrence of an Event of Default under
Section 6.01(e) of the Loan Agreement) in accordance with the provisions
of Section 6.01 of the Loan Agreement. The Borrower agrees to pay default
interest and late charges, as provided for in the said Basic Loan Terms.

 

ARTICLE 3 - OTHER DOCUMENTS

 

This Note is secured by
the Deed of Trust and the other Collateral Documents.  All of the terms, covenants and conditions contained in the Loan
Agreement are hereby made part of this Note to the same extent and with the
same force as if they were fully set forth herein.  In the event of a conflict or inconsistency between the terms of
this Note and the Loan Agreement, the terms and provisions of the Loan
Agreement shall govern.

 

ARTICLE 4 - SAVINGS CLAUSE

 

Anything herein to the
contrary notwithstanding, if at any time the interest rate under this Note,
together with all fees and charges that are treated as interest under
applicable law (collectively, the “Charges”), as provided for in the
Loan Agreement or herein or in any other Loan Document, or otherwise contracted
for, charged, received, taken or reserved by the Lender, shall exceed the
maximum lawful rate (the “Maximum Rate”) that may be contracted for,
charged, taken, received or reserved by the 

 

 

Lender in accordance with
applicable law, the rate of interest payable on this Note, together with all
Charges payable to the Lender, shall be limited to the Maximum Rate.  The Borrower shall never be liable for
unearned interest thereon and shall never be required to pay interest thereon
in excess of the maximum amount that may be lawfully charged under applicable
law from time to time in effect.  If (a)
the maturity of the obligations of the Borrower under this Note is accelerated
for any reason, (b) any of such obligations are prepaid and as a result any
amounts held to constitute interest are determined to be in excess of the legal
maximum or (c) the Lender or any other holder of any or all of the obligations
of the Borrower under this Note or the Loan Agreement shall otherwise collect moneys
that are determined to constitute interest that would otherwise increase the
interest on any or all of such obligations to an amount in excess of that
permitted to be charged by applicable law then in effect, then all such sums
determined to constitute interest in excess of such legal limit shall, without
penalty, be promptly applied to reduce the then outstanding principal of such
obligations or, at the Lender’s or such holder’s option, promptly returned to
the Borrower or the other payor thereof upon such determination.

 

ARTICLE 5- NO ORAL CHANGE

 

No amendment or waiver of
any provision of this Note nor consent to any departure by the Borrower
therefrom, shall in any event be effective unless the same shall be in writing
and signed by the Lender and the Borrower, and then such waiver or consent
shall be effective only in the specific instance and for the specific purpose
for which given.

 

ARTICLE 6 - WAIVERS

 

The Borrower and all
others who may become liable for the payment of all or any part of the Advances
do hereby severally waive presentment and demand for payment, notice of
dishonor, notice of intention to accelerate, notice of acceleration, protest
and notice of protest and non-payment and all other notices of any kind except
as expressly provided in the Loan Agreement. 
No release of any security for the Advances or extension of time for
payment of this Note or any installment hereof, and no alteration, amendment or
waiver of any provision of this Note, the Loan Agreement or any of the other
Loan Documents made by agreement between the Lender or any other Person shall
release, modify, amend, waive, extend, change, discharge, terminate or affect
the liability of the Borrower, and any other Person who may become liable for
the payment of all or any part of the Advances, under this Note, the Loan
Agreement or the other Loan Documents (except as otherwise specifically
provided in writing by any such alterations, amendments or waivers of this
Note, the Loan Agreement or the other Loan Documents).  No notice to or demand on the Borrower shall
be deemed to be a waiver of the obligation of the Borrower or of the right of
the Lender to take further action without further notice or demand as provided
for in this Note, the Loan Agreement or the other Loan Documents.

 

ARTICLE 7- GOVERNING LAW

 

This Note shall be
governed, construed, applied and enforced in accordance with the laws of the
State of New York and applicable laws of the United States of America without
regard to conflicts of laws principles of New York State law other than
§ 5-1401 of the New York General Obligations Law.

 

ARTICLE 8 - NOTICES

 

All notices or other
written communications hereunder shall be delivered in accordance with
Section 7.02 (and the said Basic Loan Terms) of the Loan Agreement.

 

2

 

IN WITNESS WHEREOF,
Borrower has duly executed this Note as of the day and year first above
written.

 

 

	
   

  	
  BORROWER:

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  S&W OF LAS VEGAS,
  L.L.C.

  
	
   

  	
   

  	
  By:  The Smith & Wollensky Restaurant

  Group, Inc., Sole Member

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Alan M. Mandel

  	
   

  
	
   

  	
   

  	
  Name: Alan M. Mandel

  
	
   

  	
   

  	
  Title:   Secretary

  

 

 

	
  STATE OF NEW YORK

  	
  )

  
	
   

  	
  ss.:

  
	
  COUNTY OF NEW YORK

  	
  )

  

 

 

On the 30th day of
January in the year 2004, before me, the undersigned, a Notary Public in and
for said State, personally appeared Alan M. Mandel, personally known to me or
proved to me on the basis of satisfactory evidence to be the individual whose
name is subscribed to the within instrument and acknowledged to me that he
executed the same in his capacity, and that by his signature on the instrument,
the individuals, or the person upon behalf of which the individual acted,
executed the instrument.

 

 

	
   

  	
   

  	
  /s/ Maria A. Chang

  	
   

  
	
   

  	
   

  	
  Maria A. Chang

  	
   

  
	
   

  	
   

  	
  Notarized

  	
   

  

 

 

NOTE

 

Grid
Schedule of Advances/Payments

 

	
  Date

  	
   

  	
  Advances

  	
   

  	
  Interest

  Rate

  	
   

  	
  Payments

  	
   

  	
  Unpaid

  Principal

  Balance

  	
   

  	
  Name of

  Person

  Making Notation

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