FIRST SCHEDULE. GUARANTEE In order to induce the parties to the foregoing deed to execute the same and in consideration of the execution thereof the Guarantor Company referred to in Recital (d) of the deed hereby for itself its successors and assigns agrees with and guarantees to the State referred to in the deed that the Company therein referred to will by the 31st day of December, 1964 (or such extended date if any as the Minister referred to in the deed may approve) expend as provided in clause 4 of the deed the balance of the amount of five hundred thousand pounds (£500,000) therein referred to notwithstanding any time or indulgence granted to the Company or any addition to cancellation of or variation of the provisions of the deed.
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