ARTICLE 6
Modification of the Finance Contract
6.01 The Bank shall inform the Guarantor of changes, which do
not increase the obligations of the Guarantor, made to
the Finance Contract by the Bank for the purpose of
improving or strengthening the position of the Bank
towards the Borrower.
The Bank shall have the right to grant to the Borrower
extensions of time of up to three months in respect of
each repayment of principal or payment of interest and
any other incidental expenses as it sees fit, without
being bound to submit its decision to the Guarantor.
Any modifications in the Finance Contract other than
those referred to in the above paragraphs of this
Article 6 shall be submitted for approval to the
Guarantor. The latter may refuse its approval only if
the proposed modifications are likely to be prejudicial
to it in its capacity as Guarantor.
not increase the obligations of the Guarantor, made to
the Finance Contract by the Bank for the purpose of
improving or strengthening the position of the Bank
towards the Borrower.
The Bank shall have the right to grant to the Borrower
extensions of time of up to three months in respect of
each repayment of principal or payment of interest and
any other incidental expenses as it sees fit, without
being bound to submit its decision to the Guarantor.
Any modifications in the Finance Contract other than
those referred to in the above paragraphs of this
Article 6 shall be submitted for approval to the
Guarantor. The latter may refuse its approval only if
the proposed modifications are likely to be prejudicial
to it in its capacity as Guarantor.