Common use of EFFECT OF THIS DEED Clause in Contracts

EFFECT OF THIS DEED. 3.1 Upon execution of this Deed by the Parties, this Deed shall immediately be fully and effectively binding on them. 3.2 CIH’s obligations under the Letter of Guarantee dated 11 June 2019 (the “Letter of Guarantee”) shall not be released, impaired, reduced or otherwise affected by the execution of this Deed and performance of the obligations herein, and shall continue to remain in full force and effect in accordance with the terms of the Letter of Guarantee. The parties hereto expressly agree and acknowledge that the second paragraph of the Letter of Guarantee shall be amended and replaced by the following:- “In consideration of the foregoing, the Guarantor hereby guarantees to the Holder of the Convertible Note and its successors and permitted assign the due and punctual payment of the principal of, and interest on the Convertible Note (which, for the avoidance of doubt, includes any payments due under any subsequent settlement deed(s) that might be entered into by the Company, the Guarantor and the Holder), subject to certain terms and conditions as provided herein below.”