In consideration of You Monkey Limited (the Seller) agreeing to supply {BUSINESS} (the Customer) with goods on credit at my/our request, I/we the persons named below as Guarantor jointly and severally agree with the Seller that:
(a) I/We will with the customer be jointly and severally liable to the Seller for the due and punctual performance by the Customer of the Customer’s obligations under the Customer’s credit application and terms of sale agreement above and all other agreements for the supply of goods to the Customer by the Seller, including (without limitation) the Customer’s obligations to pay money to the Seller;
(b) I/We will indemnify the Seller from and against all losses, expenses and costs, including but not limited to all legal and collection costs and costs incurred in connection with the Seller’s enforcements of its securities (including on a solicitor/client basis), which the Seller may suffer or incur as a result of the Customer’s default or failure to comply with any obligation of the Customer to the Seller;
(c) I/We agree that notwithstanding that as between me/us and the Customer, I/We may be a surety only, I/We will be liable to the Seller as a principal debtor jointly and severally with the Customer;
(d) I/We agree that this guarantee is a continuing guarantee for all future obligations of the Customer and will not be discharged or affected by any of the following: the granting of time, indulgence, extension of credit or other concession to the Customer; any modification, variation or addition to any agreement between the Seller and the Customer for the supply of goods or other services (including, without limitation, any amendment to, or replacement of, the Seller’s Terms and Conditions of Sale and any increase in the Customer’s credit limit); the insolvency; liquidation or receivership of the Customer or any change in the shareholding or directorship of the Customer; or any other act, event or omission (including the Seller’s failure to register its security on the PPSR) which but for this clause might operate to discharge, or otherwise affect this guarantee and my/our obligations under this guarantee. I/We agree that this guarantee will only be released by the express written agreement of the Seller.
(e) I/We am/are aware of all the provisions of the Customer’s credit application and terms of sale agreement and the terms upon which credit is to be provided to the Customer.
(f) I/We agree that clause 8 of the Seller’s Terms and Conditions of Sale apply to me/us (with references to the Customer replaced with I/We where necessary) as if set out in full in this guarantee.
(g) I/We agree that the doctrine of marshalling does not apply to or in respect of this guarantee.
(h) I/We agree not to dispose of my/our assets nor release any debts owed to me/us at any time during the term of this guarantee.