Personal Guarantee

Letterhead

{{company_name}}

{{company_address}}

{{phone}}

{{email}}

{{website}}

PERSONAL GUARANTEE

This Personal Guarantee (hereinafter referred to as "Guarantee") is made and entered into on this {{date_of_guarantee}} day of {{month}}, {{year}},

BY:

{{guarantor_name}} of {{guarantor_address}} (hereinafter referred to as "the Guarantor")

IN FAVOUR OF:

{{beneficiary_company_name}} of {{beneficiary_company_address}} (hereinafter referred to as "the Beneficiary")

IN RESPECT OF:

{{debtor_company_name}} of {{debtor_company_address}} (hereinafter referred to as "the Debtor")

RECITALS

WHEREAS, the Beneficiary has agreed or may hereafter agree to provide financial accommodation, credit facilities, goods, or services (hereinafter collectively referred to as "the Facilities") to the Debtor on the express condition that the Guarantor provides a personal guarantee for the due and punctual performance of all the Debtor's obligations to the Beneficiary.

AND WHEREAS, the Guarantor is a director/shareholder/key person (delete as applicable) of the Debtor and acknowledges that the provision of the Facilities by the Beneficiary to the Debtor is of direct financial benefit to the Guarantor.

NOW, THEREFORE, in consideration of the Beneficiary providing the Facilities to the Debtor, the Guarantor hereby unconditionally and irrevocably guarantees to the Beneficiary the due and punctual payment and performance of all present and future obligations, liabilities, and indebtedness of the Debtor to the Beneficiary, whether principal, interest, costs, or otherwise (hereinafter collectively referred to as "the Guaranteed Obligations").

NATURE AND EXTENT OF GUARANTEE

This Guarantee shall be a continuing guarantee and shall cover all the Guaranteed Obligations, notwithstanding any fluctuation in the amount, nature, or extent of such obligations.

The Guarantor’s liability under this Guarantee shall be primary and shall not be conditional upon the Beneficiary first proceeding against the Debtor or any other person, or enforcing any other security held by the Beneficiary.

The Guarantor waives any right to require the Beneficiary to proceed against the Debtor or any other party or to exhaust any other remedies or collateral before proceeding against the Guarantor under this Guarantee.

The maximum aggregate amount for which the Guarantor shall be liable under this Guarantee shall be {{guarantee_amount_words}} ({{guarantee_amount_figures}}) or such other amount as may be agreed upon in writing between the parties from time to time.

INDEMNITY

As a separate and independent obligation, the Guarantor hereby agrees to indemnify and keep indemnified the Beneficiary against all losses, damages, costs, expenses, and liabilities of whatsoever nature incurred by the Beneficiary arising out of or in connection with any failure by the Debtor to perform its Guaranteed Obligations, whether or not such failure gives rise to a valid claim under the Guarantee.

REPRESENTATIONS AND WARRANTIES

The Guarantor hereby represents and warrants to the Beneficiary that:

a) The Guarantor has full power and authority to enter into and perform this Guarantee.

b) This Guarantee constitutes legal, valid, and binding obligations of the Guarantor, enforceable in accordance with its terms.

c) The execution and performance of this Guarantee will not violate any law, regulation, or agreement to which the Guarantor is a party or by which the Guarantor is bound.

CONTINUING VALIDITY AND WAIVERS

This Guarantee shall not be prejudiced or discharged by any time, indulgence, waiver, or concession given to the Debtor or any other person, or by any variation, amendment, or novation of any agreement or document between the Beneficiary and the Debtor, or by any invalidity or unenforceability of any Guaranteed Obligation.

The Guarantor waives all legal and equitable defences which would otherwise be available to the Guarantor, including but not limited to those available to a surety.

EVENTS OF DEFAULT

Upon the occurrence of an event of default by the Debtor under any agreement with the Beneficiary, or upon demand by the Beneficiary, the Guaranteed Obligations shall immediately become due and payable by the Guarantor.

GOVERNING LAW AND JURISDICTION

This Guarantee shall be governed by and construed in accordance with the laws of {{country_name}}.

The parties irrevocably submit to the exclusive jurisdiction of the courts of {{country_name}} for the resolution of any disputes arising out of or in connection with this Guarantee.

GENERAL PROVISIONS

a) This Guarantee constitutes the entire agreement between the parties with respect to the subject matter hereof and supersedes all prior agreements and understandings, oral or written.

b) Any amendment, modification, or waiver of any provision of this Guarantee shall be in writing and signed by all parties hereto.

c) If any provision of this Guarantee is found to be invalid or unenforceable, such invalidity or unenforceability shall not affect the other provisions of this Guarantee, which shall remain in full force and effect.

d) The headings in this Guarantee are for convenience only and shall not affect its interpretation.

Signature Block

IN WITNESS WHEREOF, the Guarantor has executed this Personal Guarantee on the date first above written.

_________________________

{{guarantor_name}}

Guarantor

WITNESSES:

1. _________________________

{{witness_1_name}}

{{witness_1_address}}

2. _________________________

{{witness_2_name}}

{{witness_2_address}}