Reinstatement. Notwithstanding anything to the contrary in this Guarantee Agreement, if any payment made by the Guarantor to the Bank or any discharge given by the Bank (whether in respect of the obligations of the Guarantor or any security securing those obligations or otherwise) is avoided or reduced as a result of any insolvency or any similar event, the liability of the Guarantor shall continue or be reinstated (as the case may be) as if the payment, discharge, avoidance or reduction, had not occurred; and the Bank shall be entitled to recover the value or amount of that security or payment from the Guarantor as if the payment, discharge, avoidance or reduction had not occurred. The Guarantor hereby represents and warrants to the Bank that during the subsistence of this Guarantee Agreement: It has the power to execute, deliver and perform its obligations under this Guarantee Agreement and all necessary governmental and other action have been taken to authorise the execution, delivery and performance of the same by it. The obligations expressed to be assumed by it in this Guarantee Agreement are legal and valid obligations, binding on it in accordance with the terms of this Guarantee Agreement. The choice of Luxembourg law as the governing law of this Guarantee will be recognised and enforced in the Republic of Serbia and any judgement obtained in Luxembourg in relation to this Guarantee will be recognised and enforced in the Republic of Serbia. All acts, conditions and things required to be done, fulfilled and performed in order: (i) to enable it lawfully to enter into, exercise its rights under and perform and comply with the obligations expressed to be assumed by it in this Guarantee Agreement; (ii) to ensure that the obligations expressed to be assumed by it in this Guarantee Agreement are legal, valid and binding; and (iii) to make this Guarantee Agreement admissible in evidence in the Republic of Serbia have been done, fulfilled and performed. The execution and delivery of, the performance of its obligations under and compliance with the provisions of this Guarantee Agreement do not and will not contravene or conflict with:
Reinstatement. If any discharge, release or arrangement (whether in respect of the obligations of the Borrower or any security for those obligations or otherwise) is made by the Lender in whole or in part on the basis of any payment, security or other disposition which is avoided or must be restored in insolvency, liquidation, administration or otherwise, without limitation, then the liability of the Guarantor under this Article II will continue or be reinstated as if the discharge, release or arrangement had not occurred. The obligations of the Guarantor under this Article II will not be affected by an act, omission, matter or thing which, but for this Section 2.06, would reduce, release or prejudice any of its obligations under this Article II (without limitation and whether or not known to it or the Lender) including: