Director’s Deed

Director's Deed of Guarantee

1. to guarantee the payment of all debts now due or to become due by the Customer to Reliable Food Distributors and, as a separate obligation, indemnify Reliable Food Distributors for any losses arising as a result of the Customer failing to pay debts due to Reliable Food Distributors including but not limited to Reliable Food Distributors' costs of collection and legal costs on a solicitor client basis;
   
   
2. that this guarantee and indemnity is a continuing obligation on our part and is not affected by Reliable Food Distributors giving any time or other indulgence to the Customer or us;
   
   
3. that each of us is jointly and severally liable as amongst ourselves and with the Customer for all amounts owed by the Customer to Reliable Food Distributors and Reliable Food Distributors is at liberty to act as though any one of us was the principal debtor and we hereby waive all and any of our rights as surety which may at any time be inconsistent with any of these provisions;
   
   
4. that if the Customer goes into liquidation or bankruptcy then we agree not to prove in such liquidation or bankruptcy until all debts to Reliable Food Distributors together with all other amounts owing to Reliable Food Distributors by the Customer and the legal costs of Reliable Food Distributors on a solicitor and client basis have been paid;
   
   
5. that this guarantee is revocable at any time as to future transactions by the service of written notice on Reliable Food Distributors at Reliable Food Distributors' place of business and we agree that we remain liable for all debts of the Customer to Reliable Food Distributors up to and including the transaction immediately prior to the service of the notice;
   
   
6. the guarantors have read and understood the terms of this Guarantee and have also recognised their right to seek independent legal and financial advice on the documents prior to signing, and that Reliable Food Distributors is under no obligation to provide the guarantors with legal and financial advice as to the consequences and effect of these documents, nor to explain these documents to the guarantors.
   
   
7. that otherwise this guarantee continues notwithstanding:
   
   
(a) a change in the constitution of the Customer partnership or company notwithstanding Section 18 of the Partnership Act or any other enactment; (b) the Customer's business is assigned or in any way transferred to a different party; (c) a summons or application is filed for the winding-up of the Customer or a resolution is passed for the winding-up of the Customer, whether provisionally or otherwise; (d) where a judgment is granted against the Customer and that judgment remains unsatisfied or unappealed for a period of fourteen (14) days after the date of such judgment; (e) any payment received or recovered by Reliable Food Distributors is avoided by law or required to be or is disgorged for any reason, such payment shall be deemed not to have discharged our liability and we and Reliable Food Distributors shall each be restored to the position in which we would have been had no such payment been made; (f) the fact that Reliable Food Distributors has in its discretion refused further credit or supply of goods and / or services to the Customer and does not enforce or delays in enforcing of any debt against the Customer or us, under the terms of this Guarantee; (g) the death or mental incapacity of any of us; (h) Reliable Food Distributors has not executed this Guarantee, and in this regard the Guarantee is intended by the parties to operate as a Deed Poll; (i) the fact that Reliable Food Distributors enters into any form of insolvency administration, liquidation or arrangement; (j) the fact that any requested information within this Guarantee has not been completed or not completed properly; or (k) any other event that may affect our liability as surety.-->
that this guarantee is enforceable against all of the guarantors who have executed the guarantee, notwithstanding that all the named guarantors may not have executed the guarantee.


we irrevocably authorise Reliable Food Distributors to obtain from any person or company any information which Reliable Food Distributors may require for credit reference purposes. We further irrevocably authorise Reliable Food Distributors to provide to any third party, in response to credit references and enquiries about us or by way of information exchange with credit reference agencies, details of this Guarantee and any subsequent dealings that we may have with Reliable Food Distributors as a result of this Guarantee being actioned by Reliable Food Distributors;


the above information is to be used by Reliable Food Distributors for all purposes in connection with Reliable Food Distributors considering this Guarantee and the subsequent enforcement of the same.

EXECUTED AS A DEED

Signature of Director

Name of Director:

Signature of Witness

Name of Witness (print)