FOR VALUE RECEIVED, and in consideration of, and as an inducement to, Euro USA, Inc. (“Vendor”) to deliver product to and to issue credit to the “Customer” (listed below), the undersigned(“Guarantor”), hereby guarantees to the Vendor, its successors and assigns, the full performance and observance of all the covenants, conditions and agreements therein provided to be performed and observed by the Customer, its successors and assigns, and expressly agrees that the validity of this Guaranty and the obligations of Guarantor hereunder shall in no wise be terminated, affected or impaired by reason of the assertion by the Vendor against the Customer of any of the rights or remedies reserved to the Vendor, or by reason of notice of default, the waiver by the Vendor of, or the failure of the Vendor to enforce, any of the terms, covenants and conditions of any purchase order, credit agreement or invoice with the Customer, or the granting of any indulgence or extension of time to the Customer, all of which may be given or done without notice to Guarantor. . Guarantor further covenants and agrees that this Guaranty shall remain and continue in full force and effect as to any amendment, modification, renewal or extension of any such agreements, to all of which Guarantor hereby consents in advance. Guarantor shall be liable under this Guaranty notwithstanding the assignment of any such agreements or any other transfer, by operation of law or otherwise.
The liability of the Guarantor hereby shall in no way be affected by (a) the release or discharge of the Customer in any creditors’ receivership, bankruptcy or other proceedings, (b) the impairment or modification of the liability of the Customer or the estate of the Customer in bankruptcy, or of any remedy for the enforcement of the Customer’s contractual obligations to Vendor, resulting from the operation of any present or future provision of the Federal Bankruptcy Code or other statute or from the decision in any court, (c) the rejection or disaffirmance of any agreement in any such proceedings, (d) the assignment or transfer of any agreement by the Vendor, (e) any disability or other defense of the Customer, or (f) the cessation from any cause whatsoever of the liability of the Customer.
This instrument may not be changed, modified, discharged or terminated orally or in any manner other than by an agreement in writing signed by the Guarantor and the Vendor.