In the event that the Debtor defaults in, or fails to perform its obligations to
the Bank, the Guarantor agrees that the Bank shall have the right to convert the currency of the indebtedness from any foreign currency to Thai Baht as the Bank deems appropriate, by applying the exchange rate for selling the relevant foreign currency against Baht quoted by the Bank, without having to give any prior notice to the Guarantor and in such event the Guarantor accepts that the indebtedness which has been converted from any foreign currency to Thai Baht shall be deemed to be the indebtedness which the Guarantor has to pay to the Bank and also accepts that such conversion shall not be deemed as a novation.