Guarantee to Bank for Advances by Shiva.

Guarantee to Bank for Advances

THIS GUARANTEE is given by A.B., aged . . . . . . . . . . . . . . . . . . . years, son of . . . . . . . . . . ., resident of . . . . . . . . . . ., (hereinafter called the ‘‘Surety’’) to C.D. Bank with its registered office at . . . . . . . . . . .and several branches including the one at . . . . . . . . . . . . . . . . . . . . . (hereinafter called the ‘‘Bank’’) in consideration of the said Bank opening (or continuing) an account of E.F., aged . . . . . . . . . . . years, son of . . . . . . . . . . . , resident of . . . . . . . . . ., (hereinafter called the ‘‘Customer’’ AND WITNESS as follows:

1. That the Surety hereby agrees to pay and satisfy the Bank within . . . . . . . days after demand in writing has been received by the Surety from the Bank of any sums of money up to a limit of Rupees . . . . . . . . . . . which the said Bank may advance to the Customer or incur to or for the use or accommodation of or on the credit of the said Customer in respect of any bills of exchange,

promissory note or other negotiable security drawn, accepted or endorsed by him or otherwise howsoever together with all interest, discount, commission or other banking charges etc.

2. That this guarantee shall be a continuing one and remain in full force until six calendar months after notice of its cancellation has been received by the Bank from the Surety.

3. That the Surety shall be liable up to the date of expiry of all sums due or owing to the Bank from the Customer and the said liability shall extend to all accounts of the Customer, whether the same are his or are accounts on which he is or may become jointly liable in any manner whatsoever and the guarantee shall not be affected by any change in the constitution of the Bank, its successors or assigns, or by its absorption or amalgamation with or by any Bank or Banks.

4. That the Bank shall be entitled to enforce the Surety’s contractual liability at its option and no granting of time, forbearance to enforce payment or any other indulgence granted by the Bank or to which the Customer may be entitled to, with or without notice to, consent or acquiescence of the Surety shall in any way affect the Bank’s position.

5. That the expressions ‘‘Surety’’, ‘‘the Bank’’ and ‘‘Customer’’ wherever and whenever used shall be given the widest meaning and scope and shall include in the case of the Bank, its successors and assigns and in the case of the surety and the customer, their heirs, successors and representatives.

AS WITNESS my hand, I, the above-named Surety have hereto signed at . . . . . . . . . . . the . . . . . . . . . . . day of . . . . . . . . . . ., 20 . . . . . . . . . . .

Witness:

Sd. A.B.

Surety.

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