KIOCL Limited. - The Kudremukh Iron Ore Company Limited

7. This Guarantee shall not in any way be affected due to change in our constitution or by your taking orvarying or giving up any securities from the Contractor or any other person, firm or Company on its behalf orby the change in the constitution, the winding up, dissolution, insolvency or death as the case may be of theContractor.8. In order to give full effect to the Guarantee herein contained, you shall be entitled to act as if we were yourprincipal debtors in respect of all your claims against the Contractor hereby guaranteed by us as aforesaidand we hereby expressly waive all our rights of suretyship and other rights, if any, which are in any wayinconsistent with the above or any other provisions of this Guarantee.9. We …………………………………………………………… also undertake not to revoke this Guarantee duringits currency except with the previous consent of the Company in writing.Dated the ........................................ day of............... . 20For .................................................................................. .......... .(indicate the name of Bank)IMPORTANT NOTEThe following points should be taken care of while submitting the Bank Guarantee:1. The Bank Guarantee should be on non-judicial stamp paper having a value as per Rules in force.2. The stamp paper should be purchased in the name of the Bank, who give the Guarantee and not in the name ofthe Contractor.3. The Bank Guarantee should be strictly as per the proforma.4. The Bank Guarantee should be from any of the Nationalised Banks or Scheduled Banks.5. If any correction is made on the Guarantee, the same should be endorsed by the Bank with its official seal.70