7. I/We declare that I/We have not received any security from the Principal for the giving of this guarantee and I/We agree that I/We will not so long as any moneys remain owing by the Principal to the Bank or any liability incurred by the Bank remains outstanding, take any security in respect of my/our liability hereunder without first obtaining the Bank’s written consent and I/We agree that in the event of my/our taking any such security, the amount for which I/We am/are to be liable under this guarantee shall be increased by the amount by which dividend payable by the Principal to the Bank on a winding up is thereby diminished. I/We have not received any consideration by way of commission or otherwise for giving this guarantee; nor shall I/We receive any consideration for my/our standing as guarantor/s to the facility/ies above mentioned.