APPENDIX 2 - Euroleague Basketball

The Bank hereby irrevocably undertakes to pay the Company on first
demand irrespective of the validity and the legal effects of the
Competition, or irrespective of the contractual relationship arising
thereupon between the Club and the Company, and expressly waiving any
and all rights of objection and defence belonging to the Bank and/or arising
from said contractual relationship an amount of up to 300,000 euros
(three hundred thousand euros)/100,000 euros (one hundred thousand
euros), including capital, interests and all other charges, upon receipt of the
Company’s request for payment and the Company’s confirmation of said
request in writing (hereinafter referred to as the “Notification”) indicating
the amounts which, for any reason, are due by the Club to the persons or
entities that apply, and even to the Company itself. The Bank hereby
irrevocably undertakes that any payment hereunder will be due within a
maximum period of ten calendar days from the receipt of the Notification.
This Bank Guarantee shall be enforceable one or several times up to the
maximum guaranteed amount of 300,000 euros (three hundred thousand
euros)/100,000 euros (one hundred thousand euros). The maximum
guaranteed amount of this Bank Guarantee will be reduced by any payment
effected by the Bank hereunder.
The present undertaking of the Bank shall be valid until 30 July 20.... and
shall automatically expire in full if the Company’s Notification is not received
by the Bank on or before this date.
If any provision of this Bank Guarantee is held to be invalid or
unenforceable, then said provision shall (so far as it is invalid or
unenforceable) be given no effect and shall be deemed not to be included in
this Bank Guarantee but without invalidating any of the remaining
provisions.
All disputes arising out of or in connection with this Bank Guarantee shall be
finally and exclusively settled under the Rules of Arbitration of the
International Chamber of Commerce by a panel of three arbitrators
appointed in accordance with said Rules. The Parties agree that Lugano
(Switzerland) shall be the place of arbitration and English shall be the
language of arbitration.
Place and date.
Signed by the Bank
Signed by a public authority (for instance a Notary Public) whose signature
allows the direct execution of this Bank Guarantee.
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