5.1 If any payment by the Borrower or any release from the Beneficiary is
challenged or reduced by reason of any insolvency or similar event, then:
a)
the liability of the Guarantor shall continue as if such payment, release, challenge or reduction had not occurred; and
b)
the Beneficiary shall be entitled to receive the payment from the
Guarantor as if such payment, release, challenge or reduction had not been
made.
5.2 The Guarantor's obligations under this Guarantee shall not be affected in their existence by any act, omission or other circumstance relating to the Borrower's obligation which would reduce or impair any of its obligations under this
Guarantee or relieve it thereof. This shall also apply to any defences of the Borrower as principal debtor or rights of avoidance or set-off of the Borrower.