GUARANTY
TO: The Sumitomo Bank, Limited.
In regard to any and all obligations the Principal may at present or in future
owe to your Bank, the Guarantor hereby agrees, with the full understanding of
the terms and conditions of the Agreement on the Bank Transactions, which the
Principal has executed and delivered to your Bank, as well as the terms and
conditions hereinafter set forth, that the Guarantor shall be jointly and
severally liable with the Principal for the performance of all obligations.
ARTICLE 1. The liability of the Guarantor shall not exceed at any one time
the sum of yen 500,000,000 (Y )
ARTICLE 2. The Guarantor shall not object to your Bank's changing or
releasing any collateral or other guarantees at your Bank's sole
option.
ARTICLE 3. The Guarantor shall not offset the liability of the Guarantor
against the deposits or other credits of the Principal with your
Bank.
ARTICLE 4. If and when the Guarantor shall have performed any obligations
hereunder, the Guarantor shall not exercise any rights obtained
from your Bank by subrogation without the prior approval of your
Bank so long as transactions between your Bank and the Principal
continue. Upon your Bank's demand, the Guarantor shall assign
such rights and priority to your Bank without compensation.
ARTICLE 5. (1) In case the Guarantor has given any other guarantee in
regard to the Principal's transactions with your Bank, such
other guarantee shall not be affected by this guarantee
contract, and in case the Guarantor has given any other
guarantee with the provision of a certain maximum amount the
maximum amount of this guarantee shall be added to such
other guarantee.
(2) In case the Guarantor gives any other guarantee in future in
regard to the Principal's transactions with your Bank, the
Guarantor shall agree to your Bank's handling the matter
mutandis in the manner set forth in the preceding Paragraph.
Dated this 7 day of June Nineteen Hundred and 1996
The Principal: Signature:
Full Name:
Address :
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Revenue
Stamp
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The Guarantor: Signature: /s/ Xxxx X. Xxxx,
treasurer for
Full Name: Novellus Systems, Inc.
Address : 0000 Xxxxx Xxxxx Xxxxxx
Xxx Xxxx, XX 00000 XXX
The Liability of Guarantor shall be released on or after____________________
If any dispute arises in the interpretation of the terms or provisions herein
stated, it shall be decided by the Japanese text, of which this is a
translation.
