1. Corporate Guarantee from Ezra Holdings Ltd., “Guarantor”.
Remark: The Guarantor name may be changed subject to due diligence of the financial standing of the company.
2. Open the account with TBANK to receive the payment from Chevron for the existing P&A project as well as the extension phase. The account will be assigned to TBank so that the Bank will be able to deduct money to pay interest and principal.
3. The bank will keep [50%] of the payment received from Chevron for the payment for existing P&A project as collateral on temporary basis. This collateral will be released after;
1) The contract with Chevron to extend P&A service for the other 4 years has been properly signed and sent to the Bank.
2) In the contract with Chevron for the extension phase, Chevron will make a payment to the Borrower’s account opened with Thanachart Bank.