Common use of Securities and Guarantees Clause in Contracts

Securities and Guarantees. The bank guarantee held by the Lessor shall be renewed for the Updated Rental Period in accordance with this Second Addendum, as stated in Section 32 of the Rental Agreement, viz. through March 31, 2008 or March 31, 2010, insofar as the option for the Additional Rental Period is exercised. If the bank guarantee is forfeited due to the breach of the Rental Agreement by the Lessee, the Lessee undertakes, by way of a fundamental undertaking, to furnish the Lessor with another bank guarantee, in the amount of the forfeited bank guarantee (linked to the Base Index in accordance with the Rental Agreement), not later than 7 business days after the date of notification of the Lessor of the forfeiting of the bank guarantee.