SUCH PAYMENT SHALL BE MADE WITHOUT SET-OFF AND FREE AND CLEAR OF ANY DEDUCTIONS, CHARGES, FEES OR WITHHOLDING OF ANY NATURE NOW OR HEREINAFTER IMPOSED, LEVIED, COLLECTED, WITHHELD OR ASSESSED BY THE GOVERNMENT OF _____________ OR ANY POLITICAL SUBDIVISION OR AUTHORITY THEREOF OR THEREIN. THIS GUARANTEE IS TRANSFERABLE AND ASSIGNABLE AND DIVISIBLE WITHOUT NOTIFICATION OF THE ISSUING BANK AND PAYMENT OF ANY TRANSFER FEE.