1.1 The Guarantor hereby irrevocably and unconditionally guarantees to the

Beneficiary the due performance of all of the Borrower’s payment obligations under the Credit Facility Agreement.

1.2 Upon the Beneficiary’s first written demand stating that the Borrower has not

performed its payment obligations under or in connection with the Credit Facility Agreement as and when due, the Guarantor shall remit promptly the requested amounts without any set-off, reservation, deduction, counterclaim or other

objection or defense exclusively in Euro, to the following bank account opened by the Beneficiary at the Banque de France (head office/main branch):

SWIFT-BIC: BDFEFRPPCCT

IBAN: FR76 3000 1000 6400 0000 4023 503

or any other account notified by the Beneficiary to the Guarantor.

1.3 The payment obligations of the Guarantor shall be valid and binding,

independent from the obligations of the Borrower and of the validity of the Credit Facility Agreement, of any prior advice or request for payment from the Beneficiary to the Borrower, of any legal proceedings or other action instituted

by the Beneficiary against the Borrower, or of any evidence of the Borrower’s default to be furnished by the Beneficiary.