CONTINUING AND ADDITIONAL SECURITY. 3.01 The Guarantor acknowledges and agrees that this Guarantee is and at all times a continuing security and shall cover and secure the ultimate balance from time to time owing to the Company by the Principal on each separate account or in any manner whatsoever notwithstanding the bankruptcy, liquidation, incapacity or any change in the constitution of the Principal or the Guarantor or any settlement of account or other matter whatsoever. This Guarantee is in addition to, shall not be affected by and may be enforced despite the existence of, and without demand, notice, legal process or any other action under, any other guarantee, lien, ▇▇▇▇, ▇▇te, mortgage, or other security now or hereafter held by or available to the Company. 3.02 Should any purported obligation of the Principal which if valid or enforceable would be the subject of this Guarantee, be or become wholly or in part invalid or unenforceable against the Principal by reason of any defect in or insufficiency or want of powers of the Principal or irregular or improper purported exercise thereof or breach or want of authority by any person purporting to act on behalf of the Principal or because the Company's rights have become barred by reason of any legal limitation, disability, incapacity or any other fact or circumstance whether or not already known to the Company or if for any other reason whatsoever the Principal is not or ceases to be legally liable to discharge any money, obligation or liability undertaken or purported to be undertaken on its behalf the Guarantor shall nevertheless be liable to the Company (notwithstanding the avoidance or invalidity of any assurance, security or payment or any ground whatsoever including (without limitation) avoidance under any enactment relating to liquidation) in respect of that purported obligation or liability as if the same were wholly valid and enforceable and the Guarantor was the principal debtor in respect thereof. The Company is not to be concerned to see or enquire into the powers of the Principal or its officers, employees or agents purporting to act on its behalf. The Guarantor hereby agrees to keep the Company fully indemnified against all damages, loss, costs and expenses arising from any failure of the Principal to carry out any such purported obligation. 3.03 The Guarantor agrees that the Company may from time to time without discharging or in any way affecting the liability of the Guarantor hereunder and without the assent or knowledge of the Guarantor grant to the Principal or to any other person any time or indulgence or renew any bills, promissory notes or other negotiable or nonnegotiable instruments or securities, give up, deal with, exchange, vary, realize, release or abstain from perfecting or enforcing any guarantees, liens, bills, notes, mortgages, securities or other rights which the Company may now or hereafter have from or against the Principal or any other person whether hereunder or otherwise or renew, determine, vary or increase any credit or facilities to or the terms or conditions in respect of any transaction with the Principal as to the application of any advance made or to be made to the Principal or compound with, discharge, release or vary the liability of the Principal or any other person or concur in accepting or varying any compromise, arrangement or settlement or omit to claim or enforce payment of any dividend or composition when and in such manner as the Company may think expedient and no such act or omission on the part of the Company shall in any way discharge or diminish the validity of this Guarantee or affect the liability of the Guarantor hereunder. The Company may enforce this Guarantee notwithstanding that they may hold any other guarantee, lien or security or have any outstanding remedy against the Principal or any other person. 3.04 The Guarantor hereby expressly waives presentment and demand for payment notice of non-payment and protest and any other notice or notices that might otherwise be required in connection with the Promissory Note.
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CONTINUING AND ADDITIONAL SECURITY. 3.01 4.1 The Guarantor acknowledges and agrees that this Guarantee is and at all times Pledge will be a continuing security and shall cover and secure the ultimate balance from time to time owing to the Company not be considered as satisfied by the Principal on each separate account any intermediate payment, satisfaction or in settlement of any manner whatsoever notwithstanding the bankruptcy, liquidation, incapacity or any change in the constitution part of the Principal or Secured Obligations until expressly released in accordance with Clause 12.1 of this Agreement, and shall remain in full force and effect until the Guarantor or any settlement due and full payment and discharge of account or other matter whatsoever. This Guarantee is the Secured Obligations.
4.2 The Pledge will be cumulative, in addition to, shall not be affected by to and may be enforced despite the existence of, and without demand, notice, legal process or independent of any other action under, any other guarantee, lien, ▇▇▇▇, ▇▇te, mortgage, security or other security interest now or hereafter held by the Pledgee as security for the Secured Obligations or available any rights, powers and remedies provided by law and shall not operate so as in any way to prejudice or affect or be prejudiced or affected by any security interest or other right or remedy which the Pledgee may now or in the future have in respect of the Secured Obligations.
4.3 The Pledgor hereby waives any rights it may have of first requiring the Pledgee to proceed against or claim payment from any other person or enforce any guarantee or security before enforcing the Pledge. The rights of the Pledgee hereunder are in addition to and not exclusive of those provided by law.
4.4 The Pledge shall not be discharged by the entry of any Secured Obligations into any current account, in which case the Pledge shall secure any balance of such current account up to the Companyamount in which the Secured Obligations were entered therein.
3.02 Should 4.5 To the extent permitted by law, the Pledgor recognises that the Pledge will not in any purported obligation way be prejudiced or affected by any change in the articles of association or status of the Principal which if valid Pledgor or enforceable would be the subject of this Guarantee, be or become wholly or in part invalid or unenforceable against the Principal by reason of any defect in or insufficiency or want of powers of the Principal or irregular or improper purported exercise thereof or breach or want of authority by any person purporting to act on behalf of the Principal or because the Company's rights have become barred by reason of any legal limitation, disability, incapacity or other circumstances relating to the Pledgor or any other fact person, by any invalidity, illegality or circumstance whether unenforceability of the obligation of the Pledgor or not already known to the Company or if for any other reason whatsoever the Principal is not or ceases to be legally liable to discharge any moneyperson, obligation or liability undertaken or purported to be undertaken on its behalf the Guarantor shall nevertheless be liable to the Company (notwithstanding the avoidance or invalidity of any assurance, security or payment or any ground whatsoever including (without limitation) avoidance under any enactment relating to liquidation) in respect of that purported obligation or liability as if the same were wholly valid and enforceable and the Guarantor was the principal debtor in respect thereof. The Company is not to be concerned to see or enquire into the powers of the Principal or its officers, employees or agents purporting to act on its behalf. The Guarantor hereby Pledgor agrees to keep the Company Pledgee fully indemnified against all damages, loss, costs and expenses arising from any loss suffered as a result of any failure of by the Principal Pledgor to carry out perform any such obligation or purported obligation.
3.03 4.6 The Guarantor agrees that the Company Pledgee may from time to at any time without discharging or in any way affecting the liability of pledge created hereby (a) grant the Guarantor hereunder and without the assent or knowledge of the Guarantor grant to the Principal or to any other person Pledgor any time or indulgence or renew indulgence, (b) concur in any billsmoratorium of the Secured Obligations, promissory notes or other negotiable or nonnegotiable instruments or securities(c) amend the terms and conditions of the Secured Obligations, give up, deal with, exchange, vary, realize, release or (d) abstain from taking or perfecting or enforcing any guarantees, liens, bills, notes, mortgages, securities or other rights which the Company may now or hereafter have from or against the Principal or any other person whether hereunder or otherwise or renew, determine, vary or increase any credit or facilities to or the terms or conditions in respect of any transaction with the Principal as to the application of any advance made or to be made to the Principal or compound with, discharge, release or vary the liability of the Principal or security and discharge any other person security and (e) abstain from exercising any right or concur in accepting recourse or varying from proving or claiming any compromise, arrangement debt and waive any right or settlement or omit to claim or enforce payment of any dividend or composition when and in such manner as the Company may think expedient and no such act or omission on the part of the Company shall in any way discharge or diminish the validity of this Guarantee or affect the liability of the Guarantor hereunder. The Company may enforce this Guarantee notwithstanding that they may hold any other guarantee, lien or security or have any outstanding remedy against the Principal or any other personrecourse.
3.04 The Guarantor hereby expressly waives presentment and demand for payment notice of non-payment and protest and any other notice or notices that might otherwise be required in connection with the Promissory Note.
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