Agreement of Guarantee
| Updated at | March 2010 |
THISAGREEMENTOFGUARANTEE is made at Calcutta this................... day of............. 2000 between anil Kumar, son of........................, residing at.................. and Chirag Desai, son of.................., residing at.................... (hereinafter called the GUARNTORS which term shall unless the context otherwise requires include their heirs, successors, legal representatives and assigns) of the first part andModel Co-op Bank aBANK constituted under the BANKING Companies (Acquisition and Transfer of Undertakings) Act 1980 carrying on business, inter alia, at.......... (hereinafter called the BANK which term shall unless the context otherwise requires include its successors and assigns) of the second part.
In consideration of the BANK having agreed to grant, granting and/or continuing to grant credit facilities with limits which could be varied from time to time to the Borrower,DurenCompany Limited, a company registered under the Companies Act 1956 and carrying on business at................. at our request in, inter alia,
Overdraft in Current Account
Clean Cash Credit Account,
Cash Credit Hypothecation Account,
Cash Credit Pledge Account,
Letter of Credit Account,
Letter of Guarantee Account,
Deferred Payment Guarantee Account, or
In any other Account
from the BANK''s one or more branches on terms and conditions agreed upon or that might be agreed upon from time to time between the BANK and the borrower the GUARNTORS hereby agree and covenant with the BANK as follows:
The GUARNTORS hereby guarantee jointly and severally to the BANK the due...
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