LETTER OF CONTINUATION
We, COMPANY 1, a private company limited by shares, incorporated under the relevant Companies Act, having our registered office at __________________________, do hereby enclose a Demand Promissory Note dated ___________ for Tk. _________ (Taka ________________) only, duly executed by us and furnished to you (the “Promissory Note”) as security for repayment of the _______________ facility granted to us by you under the _________________Agreement dated _____________ amongst ____________________________________ (the “Credit Facility”).
The Promissory Note shall be security to you for repayment of the ultimate balance or any sum remaining unpaid under the Credit Facility and we shall remain liable thereunder until full adjustment of all our debt obligations dues under the Credit Facility.
We hereby acknowledge and confirm that we are liable to you for payment of the amount stipulated in the Promissory Note together with interest thereon; and that the limitation of the Promissory Note shall be suspended in accordance with the Limitation Act, 1908 (and any amendment thereto) until such time when an event of default occurs under the Credit Facility whereby the limitation period of the Promissory Note shall commence from the date of such default.
For: “The Lawyers & Jurists”
M.L.Hotel Tower Ltd, 208S hahid Syed Nazrul Islam Sarani,
Bijoy Nagar, Dhaka- 1000.