ARTICLE 2
Undertakings by the Guarantor
2.01 The Guarantor, as primary obligor and not merely as
surety, guarantees entirely the full and punctual
performance of all the monetary obligations of the
Borrower to the Bank under the Finance Contract,
including all payments of interest without any
limitation, commissions, incidental charges and other
expenses and all the sums being due by the Borrower to
the Bank under any provision of the Finance Contract,
when the guarantee is enforced.
2.02 If the Guarantor should hereafter grant to any third
party security for the performance of any of its
external debt obligations or any preference or priority
in respect thereof, the Guarantor shall so inform the
Bank and shall, if so required by the Bank, provide to
the Bank equivalent security for the performance of its
obligations hereunder or grant to the Bank equivalent
preference or priority. The Guarantor represents that no
such security, preference or priority presently exists.
Nothing in this Article 2.02 shall apply to any vendor’s
lien or to any charge, which secures only the purchase
price of any land or goods.
2.03 The Guarantor undertakes to furnish information on
legislation or regulatory framework affecting the
Borrower which may have an impact on the implementation
of the Project.
surety, guarantees entirely the full and punctual
performance of all the monetary obligations of the
Borrower to the Bank under the Finance Contract,
including all payments of interest without any
limitation, commissions, incidental charges and other
expenses and all the sums being due by the Borrower to
the Bank under any provision of the Finance Contract,
when the guarantee is enforced.
2.02 If the Guarantor should hereafter grant to any third
party security for the performance of any of its
external debt obligations or any preference or priority
in respect thereof, the Guarantor shall so inform the
Bank and shall, if so required by the Bank, provide to
the Bank equivalent security for the performance of its
obligations hereunder or grant to the Bank equivalent
preference or priority. The Guarantor represents that no
such security, preference or priority presently exists.
Nothing in this Article 2.02 shall apply to any vendor’s
lien or to any charge, which secures only the purchase
price of any land or goods.
2.03 The Guarantor undertakes to furnish information on
legislation or regulatory framework affecting the
Borrower which may have an impact on the implementation
of the Project.