JOINT AND SEVERAL PERSONAL GUARANTEE
This Guarantee made on this 6th May 2014
BETWEEN
1. Mr. Ali Sultan Khamis Al Gh'elaini (the “Guarantor”). Mr. Fahad Ahmed (the “Guarantor”).
AND
2. MUSCAT FINANCE (SAOG) a public joint stock company of P.O. Box 108, Ruwi, Postal Code 112, Sultanate of Oman (the “Factor”) which expression shall include its assigns.
WHEREAS
By a اتفاقية شراء ديون تجارية (the “Agreement") dated 21.4.2014 and made between the Factor and M/s Grand Era Trading & Contracting LLC, P. O. Box 1986, Postal Code 114, Sultanate of Oman (the “Client”), the Factor has agreed, subject interalia, to the execution of this Guarantee, to grant a loan of RO. 100,000/- [prepayment limit] (Rials Omani One Hundred Thousand only) to the Client.
NOW IT IS HEREBY AGREED as follows:-
That the captioned terms used in this guarantee shall have the same meaning as that ascribed to such term in the Agreement unless otherwise defined herein.
1. Guarantee