ARTICLE 3
Enforcement of guarantee
3.01 Demand may be made under this Agreement as soon as the
Borrower has not performed all or part of the obligations
guaranteed pursuant to Article 2.01 of this Agreement.
3.02 The Guarantor hereby waives irrevocably any objection or
exception in law to the total or partial enforcement of
this guarantee. It undertakes to perform its obligations
upon request in writing or by telegram by the Bank
whenever demand is made and to pay the sums due without
any limitation, retention or condition, without the Bank
having to furnish any special evidence in support of its
request other than the reason for the demand under this
guarantee. In particular, the Bank is not bound to prove
that it has taken any action against the Borrower; it is
not obliged, prior to the enforcement of this guarantee,
to realise securities or to enforce any other security
that the Borrower or a third party may have constituted.
3.03 The payment by the Guarantor shall fall due on the
fifteenth day following that on which demand is made.
3.04 In the event of the Bank making demand, the Guarantor
shall have the right to discharge immediately, under the
conditions set out in the Finance Contract, all the
monetary obligations of the Borrower under the Finance
Contract which are still outstanding at the time of such
discharge.
Borrower has not performed all or part of the obligations
guaranteed pursuant to Article 2.01 of this Agreement.
3.02 The Guarantor hereby waives irrevocably any objection or
exception in law to the total or partial enforcement of
this guarantee. It undertakes to perform its obligations
upon request in writing or by telegram by the Bank
whenever demand is made and to pay the sums due without
any limitation, retention or condition, without the Bank
having to furnish any special evidence in support of its
request other than the reason for the demand under this
guarantee. In particular, the Bank is not bound to prove
that it has taken any action against the Borrower; it is
not obliged, prior to the enforcement of this guarantee,
to realise securities or to enforce any other security
that the Borrower or a third party may have constituted.
3.03 The payment by the Guarantor shall fall due on the
fifteenth day following that on which demand is made.
3.04 In the event of the Bank making demand, the Guarantor
shall have the right to discharge immediately, under the
conditions set out in the Finance Contract, all the
monetary obligations of the Borrower under the Finance
Contract which are still outstanding at the time of such
discharge.