TO: LEONFAST SDN BHD (Company NO.242487-U)
No 48 & 48A, Jalan Taming Dua,
Taman Taming Jaya,
43300 Seri Kembangan Selangor
JOINT AND SEVERAL GUARANTEE
- In consideration of your having at my/our request, (which I/We hereby confirm) agreed to supply goods to (Hereinafter called the said "Customer") of and upon such terms and conditions and for so long as you shall at your absolute discretion deem fit, I/We, the undersigned HEREBY JOINTLY AND SEVERALLY GUARANTEE to you payment on demand of all monies due and owing to you by the said customer together with interest thereon at such rate as may be agreed between you and the said customer and all legal cost charges and expenses incurred by you in enforcing payment of the monies hereby guaranteed.
- The guarantee shall be a continuing guarantee to you for the whole debt to the extent of Ringgit Malaysia (RM ) and shall be in addition to any other security, including guarantees or indemnity, which you may now or at any time hereafter hold from me/any of us or the Customer or any other person for all or any part of the monies hereby guaranteed. I/We hereby agree that you shall be at liberty to part with, terminate, surrender or in any other way deal with the said other security without discharging me/any of us from liability hereunder.
- I/We hereby further agreed that my/out liabilities under this guarantee shall not in any way be discharged by your granting of time or other indulgence to the said customer, or the effecting of any release of or any compromise, composition or arrangement with the said customer or any agreement not to sue the said customer or the impairment surrender or parting with of any other security which you may now or anytime hereafter hold from the said customer or any other person.
- Any statement of indebtedness in writing, signed by any of your authorized officer or any judgment recovered by you against the said customer shall be binding and conclusive proof against me/any of us of the indebtedness of the said customer to you.
- Any notice or demand hereunder shall be deemed to have been sufficiently given if sent by registered post to my/our address last know to you or stated hereon and shall deemed to have reached me/any of us in the ordinary course of post.
- My/our obligations and liabilities hereunder shall continue to be void and binding notwithstanding any change in the style name or constitution of the customer or any change in your corporate structure or of the customer or ours.
- My/our respective liabilities under this guarantee shall be revocable at any time as to future transactions by two (2) calendar months notice in writing given to you by me/any one of us respectively. For the purpose of this clause, a notice shall be deemed to be given at the time of its receipt by you and not at the time of its posting or other dispatch. Notwithstanding the revocation of this Guarantee, we will pay the guaranteed sum which is due and owing as at the date that the revocation takes effect.
- This guarantee shall be valid and binding on and enforceable against me/any of us who signed notwithstanding that others who agreed to sign, whether or not named herein, have not signed this Guarantee and/or whether or not any of the other signatories herein have not the capacity or authority to sign this Guarantee.
- This guarantee shall be governed and construed in all respects in accordance with the laws of Malaysia but in enforcing this guarantee you shall be at liberty to initiate and take actions or proceedings against me/any of us in Malaysia or elsewhere as you deem fit; and where any actions or proceedings are initiated and taken in Malaysia I/We hereby agree to submit to the jurisdiction of the court of your choice.
Dated this day of