Cross Guaranty Agreement

Depending on the circumstances, a cross-guarantee may be introduced at the same time as the signing of the corresponding contract or in the form of an amendment at a given time if circumstances change (e.g. B if the ownership of both parties changes). A guarantee agreement is an agreement by which a guarantor undertakes to assume responsibility for the financial obligations of another enterprise if that enterprise is unable to fulfil its obligations by the agreed date. . . .