GUARANTEE AND WAIVERGuarantee and Waiver • April 17th, 1998 • Levcor International Inc • Crude petroleum & natural gas
In order to induce CONGRESS TALCOTT CORPORATION (herein called "Factor"), having an office at 1133 AVENUE OF THE AMERICAS NEW YORK, NY 10036, to enter into the foregoing factoring agreement with LEVCOR INTERNATIONAL, INC. (herein called "Obligor") and due to the close business and financial relationship between Obligor and the undersigned, whereby it is in the direct interest and benefit of the undersigned, and for other good and valuable consideration received, the undersigned irrevocably, absolutely and unconditionally guarantees to the Factor prompt payment, performance and observance when due (whether at the stated maturity, by acceleration or otherwise) of any and all Obligations (as such term is defined in the foregoing agreement) of the Obligor to the Factor. In addition, the undersigned agrees to indemnify Factor against any loss, damage or liability because of any wrongful acts of fraud of the Obligor.
