Common use of Guarantee Terms Clause in Contracts

Guarantee Terms. 9.1 For all debts owed by Party B to Party A under this Agreement, Party B or a third party acceptable to Party A shall provide collateral as security or joint guarantee, and Party B or the third party as guarantor shall issue or sign the guarantee separately as required by Party A. 9.2 If the guarantor fails to sign the guarantee and complete the guarantee formalities under the provisions of this Article (including the debtor’s defense against the accounts receivable before the pledge of the accounts receivable), Party A has the right to refuse to provide credit to Party B. 9.3 When the mortgagor provides a real estate mortgage for all debts owed by Party B to Party A under this Agreement, if Party B knows that the collateral has been or may be included in the government demolition and expropriation plan, it shall immediately inform Party A, and urge the mortgagor to continue to provide guarantee for Party B’s debts with compensation products provided by the demolition party under the mortgage contract, and timely complete the corresponding guarantee procedures, or provide other guarantee measures acceptable to Party A as required by Party A. If the collateral is in any of the situations as mentioned in the preceding paragraph and needs to be reset or other safeguard measures are taken, the relevant expenses incurred shall be borne by the mortgagor, and Party B shall bear joint and several liabilities for the expenses. Party A has the right to directly deduct such expenses from Party B’s account.