Common use of Amendment of master contract Clause in Contracts

Amendment of master contract. Neither forbearance or delay in repayment granted by the Lender to the Borrower nor any amendment, change or substitution of any terms of the master contract will in any way affect the rights and interests of the Lender under this Contract. Any of the said circumstances will be deemed as having been consented by the Guarantor and the guarantee liability of the Guarantor will not be relieved. Where the Lender issuance letter of credit, bank guarantee or standby letter of credit for the benefit of the Borrower in accordance with the master contract, any amendment to the said letter of credit, bank guarantee or standby letter of credit made by and between the Lender and the Borrower need neither be approved by the Guarantor nor be otherwise informed to the Guarantor. Such amendment will be deemed as having been consented by the Guarantor and the guarantee liability of the Guarantor will not be relieved.