It is the intention of each of the parties hereto that the Existing Parent Guaranty be amended and restated in its entirety pursuant to this Guaranty. Nothing herein contained shall be construed as a substitution or novation of the obligations outstanding under the Existing Parent Guaranty. Nothing in this Guaranty shall be construed as a release or other discharge of the Guarantors from its obligations and liabilities under the Existing Parent Guaranty. On the Effective Date, any and all references in any Loan Documents to the Existing Parent Guaranty shall be deemed to be amended to refer to this Guaranty.