{"id":42648,"date":"2015-09-17T11:25:58","date_gmt":"2015-09-17T16:25:58","guid":{"rendered":"https:\/\/content.findlaw-admin.com\/ability-legal\/contracts\/uncategorized\/parent-guarantee-agreement-alcoa.html"},"modified":"2015-09-17T11:25:58","modified_gmt":"2015-09-17T16:25:58","slug":"parent-guarantee-agreement-alcoa","status":"publish","type":"corporate_contracts","link":"https:\/\/corporate.findlaw.com\/contracts\/operations\/parent-guarantee-agreement-alcoa.html","title":{"rendered":"Parent Guarantee Agreement &#8211; Alcoa"},"content":{"rendered":"<p align=\"center\"><strong>PARENT GUARANTEE <\/strong><\/p>\n<p><strong>THIS AGREEMENT <\/strong>is dated and effective as of December  20,<br \/>\n2009 and is by and between:<\/p>\n<\/p>\n<table style=\"BORDER-COLLAPSE:COLLAPSE\" width=\"100%\" cellpadding=\"0\" border=\"0\" cellspacing=\"0\">\n<tbody>\n<tr>\n<td width=\"4%\" valign=\"top\">\n<p>(1)<\/p>\n<\/td>\n<td valign=\"top\"><strong>ABDULLAH ABUNAYYAN TRADING CORP.<\/strong><\/p>\n<p>, a corporation organized under the laws of Saudi Arabia, whose principal<br \/>\nplace of business is at Riyadh, Al-Malaz., King Abdulaziz Rd., Near Al-Khaleej<br \/>\nBridge, P.O. Box: 321, Postal Code: 11411, (together with its legal successors<br \/>\nand permitted assigns, hereinafter referred to as the<br \/>\n&#8220;<strong>Guarantor<\/strong>&#8220;); and<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<table style=\"BORDER-COLLAPSE:COLLAPSE\" width=\"100%\" cellpadding=\"0\" border=\"0\" cellspacing=\"0\">\n<tbody>\n<tr>\n<td width=\"4%\" valign=\"top\">\n<p>(2)<\/p>\n<\/td>\n<td valign=\"top\"><strong>ALCOA INC.<\/strong><\/p>\n<p>, a corporation organized under the laws of the Commonwealth of Pennsylvania,<br \/>\nwhose principal place of business is at 390 Park Avenue, New York, New York<br \/>\n10022-4608, U.S.A.(together with its legal successors and permitted assigns,<br \/>\nhereinafter referred to as the &#8220;<strong>Beneficiary<\/strong>&#8220;).<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><strong>RECITALS: <\/strong><\/p>\n<\/p>\n<table style=\"BORDER-COLLAPSE:COLLAPSE\" width=\"100%\" cellpadding=\"0\" border=\"0\" cellspacing=\"0\">\n<tbody>\n<tr>\n<td width=\"4%\" valign=\"top\">\n<p>(A)<\/p>\n<\/td>\n<td valign=\"top\">\n<p>AFL (defined below) and the Beneficiary entered into a Closing Memorandum<br \/>\ndated December  20, 2009 (the &#8220;<strong>Principal<\/strong><br \/>\n<strong>Agreement<\/strong>&#8220;); and<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<table style=\"BORDER-COLLAPSE:COLLAPSE\" width=\"100%\" cellpadding=\"0\" border=\"0\" cellspacing=\"0\">\n<tbody>\n<tr>\n<td width=\"4%\" valign=\"top\">\n<p>(B)<\/p>\n<\/td>\n<td valign=\"top\">\n<p>In consideration of AFL and the Beneficiary entering into the Principal<br \/>\nAgreement, the Guarantor is required to provide a guarantee in favour of the<br \/>\nBeneficiary on the terms set out herein.<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><strong>NOW THEREFORE <\/strong>the Parties agree as follows:<\/p>\n<\/p>\n<table style=\"BORDER-COLLAPSE:COLLAPSE\" width=\"100%\" cellpadding=\"0\" border=\"0\" cellspacing=\"0\">\n<tbody>\n<tr>\n<td width=\"4%\" valign=\"top\"><strong>1.<\/strong><\/td>\n<td valign=\"top\"><strong><u>Definitions and Interpretation<\/u> <\/strong><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>In this Agreement, unless the context otherwise requires:<\/p>\n<\/p>\n<table style=\"BORDER-COLLAPSE:COLLAPSE\" width=\"100%\" cellpadding=\"0\" border=\"0\" cellspacing=\"0\">\n<tbody>\n<tr>\n<td width=\"4%\" valign=\"top\">\n<p>1.1<\/p>\n<\/td>\n<td valign=\"top\">\n<p>&#8220;<strong>AFL<\/strong>&#8221; means Aluminum Financing Limited, with its registered<br \/>\noffice at Trident Chambers, P.O. Box 146, Road Town, Tortola, British Virgin<br \/>\nIslands;<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<table style=\"BORDER-COLLAPSE:COLLAPSE\" width=\"100%\" cellpadding=\"0\" border=\"0\" cellspacing=\"0\">\n<tbody>\n<tr>\n<td width=\"4%\" valign=\"top\">\n<p>1.2<\/p>\n<\/td>\n<td valign=\"top\">\n<p>&#8220;<strong>JV Shareholders Agreement<\/strong>&#8221; has the meaning given to it in<br \/>\nthe Principal Agreement;<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<table style=\"BORDER-COLLAPSE:COLLAPSE\" width=\"100%\" cellpadding=\"0\" border=\"0\" cellspacing=\"0\">\n<tbody>\n<tr>\n<td width=\"4%\" valign=\"top\">\n<p>1.3<\/p>\n<\/td>\n<td valign=\"top\">\n<p>capitalized terms that are used in this Agreement but not defined herein<br \/>\nshall have the meanings ascribed to them in the Principal Agreement;<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<table style=\"BORDER-COLLAPSE:COLLAPSE\" width=\"100%\" cellpadding=\"0\" border=\"0\" cellspacing=\"0\">\n<tbody>\n<tr>\n<td width=\"4%\" valign=\"top\">\n<p>1.4<\/p>\n<\/td>\n<td valign=\"top\">\n<p>capitalized terms that are used in this Agreement but not defined herein or<br \/>\nin the Principal Agreement shall have the meanings ascribed to them in the JV<br \/>\nShareholders&#8217; Agreement;<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<table style=\"BORDER-COLLAPSE:COLLAPSE\" width=\"100%\" cellpadding=\"0\" border=\"0\" cellspacing=\"0\">\n<tbody>\n<tr>\n<td width=\"4%\" valign=\"top\">\n<p>1.5<\/p>\n<\/td>\n<td valign=\"top\">\n<p>the rules of interpretation set out in Clause 1.2 of the JV Shareholders<br \/>\nAgreement shall apply to this Memorandum, mutatis mutandis.<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<table style=\"BORDER-COLLAPSE:COLLAPSE\" width=\"100%\" cellpadding=\"0\" border=\"0\" cellspacing=\"0\">\n<tbody>\n<tr>\n<td width=\"4%\" valign=\"top\"><strong>2.<\/strong><\/td>\n<td valign=\"top\"><strong><u>Guarantee and Indemnity<\/u> <\/strong><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<table style=\"BORDER-COLLAPSE:COLLAPSE\" width=\"100%\" cellpadding=\"0\" border=\"0\" cellspacing=\"0\">\n<tbody>\n<tr>\n<td width=\"4%\" valign=\"top\">\n<p>2.1<\/p>\n<\/td>\n<td valign=\"top\">\n<p align=\"left\">The Guarantor hereby unconditionally and irrevocably guarantees<br \/>\nto the Beneficiary the due and punctual performance and observance by AFL of all<br \/>\nits respective obligations, commitments, undertakings, warranties, indemnities<br \/>\nand covenants under or in connection with the Principal Agreement (the<br \/>\n&#8220;<strong>Obligations<\/strong>&#8220;), and agrees to indemnify the Beneficiary on<br \/>\ndemand against all losses, damages, costs and expenses (including reasonable<br \/>\nlegal costs and expenses in respect of any enforcement of the Obligations and\/or<br \/>\nthis Agreement) which the Beneficiary may suffer through or arising from any<br \/>\nbreach by AFL of the Obligations. The liability of the Guarantor as<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<hr>\n<p align=\"right\"><strong>Execution Copy <\/strong><\/p>\n<\/p>\n<table style=\"BORDER-COLLAPSE:COLLAPSE\" width=\"100%\" cellpadding=\"0\" border=\"0\" cellspacing=\"0\">\n<tbody>\n<tr>\n<td width=\"4%\"><\/td>\n<td valign=\"top\">\n<p>aforesaid shall not be released or diminished by any alterations of terms<br \/>\n(whether of the Principal Agreement or otherwise) or any forbearance, neglect or<br \/>\ndelay in seeking performance of the obligations thereby imposed or any granting<br \/>\nof time for such performance or any other indulgence, provided, however, that<br \/>\nthe Guarantor&#8217;s obligations under this Agreement shall continue subject to any<br \/>\nsuch alteration, extension of time or other indulgence, or any waiver that may<br \/>\nbe granted.<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<table style=\"BORDER-COLLAPSE:COLLAPSE\" width=\"100%\" cellpadding=\"0\" border=\"0\" cellspacing=\"0\">\n<tbody>\n<tr>\n<td width=\"4%\" valign=\"top\">\n<p>2.2<\/p>\n<\/td>\n<td valign=\"top\">\n<p>If and whenever AFL defaults in the performance of the Obligations and such<br \/>\ndefault is not cured or remedied within the time limits therefor after notice<br \/>\nthereof by the Beneficiary to AFL (within any cure periods (howsoever described,<br \/>\nand if any) in the Principal Agreement) (&#8220;<strong>Default<\/strong>&#8220;), the<br \/>\nGuarantor shall upon demand, which shall reasonably and briefly specify the<br \/>\nnature and amount, if any, of the Default (the &#8220;<strong>Demand<\/strong>&#8220;),<br \/>\nunconditionally perform (or procure performance of) and satisfy (or procure the<br \/>\nsatisfaction of), in accordance with the terms and conditions of the Principal<br \/>\nAgreement, the Obligations in regard to which such Default has been made, and so<br \/>\nthat the same benefits shall be conferred on the Beneficiary as it would have<br \/>\nreceived if such Obligations had been duly performed and satisfied by AFL.<br \/>\nSubject to the first sentence of this Clause 2.2, the Guarantor hereby waives<br \/>\nany rights which it may have to require the Beneficiary to proceed first against<br \/>\nor claim payment from AFL, to the extent that as between the Beneficiary and the<br \/>\nGuarantor, the latter shall be liable as principal obligor upon any aforesaid<br \/>\nDefault, as if it had entered into all the Obligations jointly and severally<br \/>\nwith AFL.<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<table style=\"BORDER-COLLAPSE:COLLAPSE\" width=\"100%\" cellpadding=\"0\" border=\"0\" cellspacing=\"0\">\n<tbody>\n<tr>\n<td width=\"4%\" valign=\"top\">\n<p>2.3<\/p>\n<\/td>\n<td valign=\"top\">\n<p>This guarantee and indemnity is to be a continuing security to the<br \/>\nBeneficiary for all the Obligations of AFL notwithstanding any settlement of<br \/>\naccount or other matter or thing whatsoever.<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<table style=\"BORDER-COLLAPSE:COLLAPSE\" width=\"100%\" cellpadding=\"0\" border=\"0\" cellspacing=\"0\">\n<tbody>\n<tr>\n<td width=\"4%\" valign=\"top\">\n<p>2.4<\/p>\n<\/td>\n<td valign=\"top\">\n<p>This guarantee and indemnity is in addition to and without prejudice to and<br \/>\nnot in substitution for any rights or security which the Beneficiary may now or<br \/>\nhereafter have or hold for the performance and observance of the Obligations of<br \/>\nAFL.<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<table style=\"BORDER-COLLAPSE:COLLAPSE\" width=\"100%\" cellpadding=\"0\" border=\"0\" cellspacing=\"0\">\n<tbody>\n<tr>\n<td width=\"4%\" valign=\"top\">\n<p>2.5<\/p>\n<\/td>\n<td valign=\"top\">\n<p>In the event that the Guarantor has taken or takes any security from AFL in<br \/>\nconnection with this guarantee and indemnity, the Guarantor hereby undertakes to<br \/>\nhold the same in trust for the Beneficiary pending discharge in full of all the<br \/>\nGuarantor&#8217;s obligations under or in connection with the Principal Agreement. The<br \/>\nGuarantor shall not, after any Demand has been made hereunder, claim from AFL<br \/>\nany sums which may be owing to it from AFL or have the benefit of any set-off or<br \/>\ncounter-claim or proof against, or dividend, composition or payment by AFL until<br \/>\nall sums owing to the Beneficiary hereunder or under or in connection with the<br \/>\nPrincipal Agreement have been paid in full.<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<table style=\"BORDER-COLLAPSE:COLLAPSE\" width=\"100%\" cellpadding=\"0\" border=\"0\" cellspacing=\"0\">\n<tbody>\n<tr>\n<td width=\"4%\" valign=\"top\">\n<p>2.6<\/p>\n<\/td>\n<td valign=\"top\">\n<p>As a separate and independent stipulation, the Guarantor agrees that any<br \/>\nObligations which may not be enforceable against or recoverable from AFL by<br \/>\nreason of:<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<table style=\"BORDER-COLLAPSE:COLLAPSE\" width=\"100%\" cellpadding=\"0\" border=\"0\" cellspacing=\"0\">\n<tbody>\n<tr>\n<td width=\"4%\"><\/td>\n<td width=\"4%\" valign=\"top\">\n<p>(a)<\/p>\n<\/td>\n<td valign=\"top\">\n<p>any legal limitation, disability or incapacity of AFL or the Guarantor;<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<table style=\"BORDER-COLLAPSE:COLLAPSE\" width=\"100%\" cellpadding=\"0\" border=\"0\" cellspacing=\"0\">\n<tbody>\n<tr>\n<td width=\"4%\"><\/td>\n<td width=\"4%\" valign=\"top\">\n<p>(b)<\/p>\n<\/td>\n<td valign=\"top\">\n<p>any insolvency or liquidation of AFL;<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<table style=\"BORDER-COLLAPSE:COLLAPSE\" width=\"100%\" cellpadding=\"0\" border=\"0\" cellspacing=\"0\">\n<tbody>\n<tr>\n<td width=\"4%\"><\/td>\n<td width=\"4%\" valign=\"top\">\n<p>(c)<\/p>\n<\/td>\n<td valign=\"top\">\n<p>any merger, amalgamation or other change of status of the Guarantor; or<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<table style=\"BORDER-COLLAPSE:COLLAPSE\" width=\"100%\" cellpadding=\"0\" border=\"0\" cellspacing=\"0\">\n<tbody>\n<tr>\n<td width=\"4%\"><\/td>\n<td width=\"4%\" valign=\"top\">\n<p>(d)<\/p>\n<\/td>\n<td valign=\"top\">\n<p>any other fact or circumstance,<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>shall nevertheless be enforceable against or recoverable from the Guarantor<br \/>\nas though the same had been incurred by the Guarantor as principal obligor in<br \/>\nrespect thereof and shall be performed<\/p>\n<\/p>\n<hr>\n<p align=\"right\"><strong>Execution Copy <\/strong><\/p>\n<\/p>\n<p>or paid by the Guarantor on demand in accordance with and subject to the<br \/>\nprovisions of the Principal Agreement and this Agreement.<\/p>\n<\/p>\n<table style=\"BORDER-COLLAPSE:COLLAPSE\" width=\"100%\" cellpadding=\"0\" border=\"0\" cellspacing=\"0\">\n<tbody>\n<tr>\n<td width=\"4%\" valign=\"top\">\n<p>2.7<\/p>\n<\/td>\n<td valign=\"top\">\n<p>Notwithstanding any other provisions of this Agreement, the obligations and<br \/>\nliability of the Guarantor under or arising out of this guarantee and indemnity<br \/>\nshall not be interpreted as imposing greater obligations and liabilities on the<br \/>\nGuarantor than are imposed on AFL under the Principal Agreement.<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<table style=\"BORDER-COLLAPSE:COLLAPSE\" width=\"100%\" cellpadding=\"0\" border=\"0\" cellspacing=\"0\">\n<tbody>\n<tr>\n<td width=\"4%\" valign=\"top\">\n<p>2.8<\/p>\n<\/td>\n<td valign=\"top\">\n<p>The Guarantor warrants and confirms to the Beneficiary:<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<table style=\"BORDER-COLLAPSE:COLLAPSE\" width=\"100%\" cellpadding=\"0\" border=\"0\" cellspacing=\"0\">\n<tbody>\n<tr>\n<td width=\"4%\"><\/td>\n<td width=\"4%\" valign=\"top\">\n<p>(a)<\/p>\n<\/td>\n<td valign=\"top\">\n<p>that it is duly incorporated and validly existing under the laws of the<br \/>\nKingdom of Saudi Arabia;<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<table style=\"BORDER-COLLAPSE:COLLAPSE\" width=\"100%\" cellpadding=\"0\" border=\"0\" cellspacing=\"0\">\n<tbody>\n<tr>\n<td width=\"4%\"><\/td>\n<td width=\"4%\" valign=\"top\">\n<p>(b)<\/p>\n<\/td>\n<td valign=\"top\">\n<p>that it has full power under its Articles of Incorporation and By-laws to<br \/>\nenter into this Agreement;<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<table style=\"BORDER-COLLAPSE:COLLAPSE\" width=\"100%\" cellpadding=\"0\" border=\"0\" cellspacing=\"0\">\n<tbody>\n<tr>\n<td width=\"4%\"><\/td>\n<td width=\"4%\" valign=\"top\">\n<p>(c)<\/p>\n<\/td>\n<td valign=\"top\">\n<p>that it has full power to perform its obligations under this Agreement;<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<table style=\"BORDER-COLLAPSE:COLLAPSE\" width=\"100%\" cellpadding=\"0\" border=\"0\" cellspacing=\"0\">\n<tbody>\n<tr>\n<td width=\"4%\"><\/td>\n<td width=\"4%\" valign=\"top\">\n<p>(d)<\/p>\n<\/td>\n<td valign=\"top\">\n<p>that it has been duly authorised to enter into this Agreement;<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<table style=\"BORDER-COLLAPSE:COLLAPSE\" width=\"100%\" cellpadding=\"0\" border=\"0\" cellspacing=\"0\">\n<tbody>\n<tr>\n<td width=\"4%\"><\/td>\n<td width=\"4%\" valign=\"top\">\n<p>(e)<\/p>\n<\/td>\n<td valign=\"top\">\n<p>that it has taken all necessary corporate action to authorise the execution,<br \/>\ndelivery and performance of this Agreement;<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<table style=\"BORDER-COLLAPSE:COLLAPSE\" width=\"100%\" cellpadding=\"0\" border=\"0\" cellspacing=\"0\">\n<tbody>\n<tr>\n<td width=\"4%\"><\/td>\n<td width=\"4%\" valign=\"top\">\n<p>(f)<\/p>\n<\/td>\n<td valign=\"top\">\n<p>that this Agreement when executed and delivered will constitute a binding<br \/>\nobligation on it in accordance with its terms; and<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<table style=\"BORDER-COLLAPSE:COLLAPSE\" width=\"100%\" cellpadding=\"0\" border=\"0\" cellspacing=\"0\">\n<tbody>\n<tr>\n<td width=\"4%\"><\/td>\n<td width=\"4%\" valign=\"top\">\n<p>(g)<\/p>\n<\/td>\n<td valign=\"top\">\n<p>that it has not received any notice, nor to the best of its knowledge is<br \/>\nthere pending or threatened any notice, of any violation of any Applicable Laws<br \/>\nby it which is likely to have a material adverse effect on its ability to<br \/>\nperform its obligations under this Agreement.<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<table style=\"BORDER-COLLAPSE:COLLAPSE\" width=\"100%\" cellpadding=\"0\" border=\"0\" cellspacing=\"0\">\n<tbody>\n<tr>\n<td width=\"4%\" valign=\"top\"><strong>3.<\/strong><\/td>\n<td valign=\"top\"><strong><u>Governing Law and Jurisdiction<\/u> <\/strong><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<table style=\"BORDER-COLLAPSE:COLLAPSE\" width=\"100%\" cellpadding=\"0\" border=\"0\" cellspacing=\"0\">\n<tbody>\n<tr>\n<td width=\"4%\" valign=\"top\">\n<p>3.1<\/p>\n<\/td>\n<td valign=\"top\">\n<p>This Agreement and any disputes or claims arising out of or in connection<br \/>\nwith its subject matter are governed by and construed in accordance with the<br \/>\nlaws of England.<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<table style=\"BORDER-COLLAPSE:COLLAPSE\" width=\"100%\" cellpadding=\"0\" border=\"0\" cellspacing=\"0\">\n<tbody>\n<tr>\n<td width=\"4%\" valign=\"top\">\n<p>3.2<\/p>\n<\/td>\n<td valign=\"top\">\n<p>Prior to referring to arbitration pursuant to Clause 3.3 below any dispute,<br \/>\ncontroversy or claim arising out of or in connection with this Agreement, or the<br \/>\nbreach, termination or invalidity thereof, (for the purposes of this Clause 3 a<br \/>\n&#8220;<strong>dispute<\/strong>&#8220;), other than proceedings to enforce an agreement<br \/>\nreached between the Parties under this Clause 3.2, the Party wishing to or<br \/>\nconsidering making such reference shall notify in writing the other Party of the<br \/>\nnature of the dispute and its background (for the purposes of this Clause 3, a<br \/>\n&#8220;<strong>dispute notice<\/strong>&#8220;) and its proposed basis for settlement of such<br \/>\ndispute and the other Party shall respond to such dispute notice within fourteen<br \/>\n(14)  days of receipt, setting out any clarification it may feel relevant and<br \/>\nincluding its proposed basis for settlement. The chief executives or presidents<br \/>\nof each Party or their designees shall then meet within thirty (30)  days of the<br \/>\nissue of the dispute notice to attempt a reconciliation and settlement of the<br \/>\ndispute. No statement as to a Party&#8217;s proposed basis for settlement nor any<br \/>\ndiscussions or communications between the Parties pursuant to this Clause 3.2<br \/>\n(except for the terms of any agreed settlement between the Parties) may be<br \/>\nrelied upon or referred to in later court, arbitration, enforcement or appeal<br \/>\nproceedings.<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<hr>\n<p align=\"right\"><strong>Execution Copy <\/strong><\/p>\n<\/p>\n<table style=\"BORDER-COLLAPSE:COLLAPSE\" width=\"100%\" cellpadding=\"0\" border=\"0\" cellspacing=\"0\">\n<tbody>\n<tr>\n<td width=\"4%\" valign=\"top\">\n<p>3.3<\/p>\n<\/td>\n<td valign=\"top\">\n<p>If any dispute arising out of or in connection with the Agreement is not<br \/>\nresolved pursuant to Clause 3.2 above within forty five (45)  days of its<br \/>\nreferral to the Parties&#8217; senior management, such dispute shall be, if requested<br \/>\nby any Party, referred to and finally settled by arbitration under the Rules of<br \/>\nArbitration of the International Chamber of Commerce as amended or substituted<br \/>\nfrom time to time (the &#8220;<strong>ICC Rules<\/strong>&#8221; and the proceedings brought<br \/>\nin accordance with this Clause3.3), which ICC Rules are deemed to be<br \/>\nincorporated into this Agreement except to the extent expressly modified by this<br \/>\nClause3.3. Arbitration shall be the exclusive method for resolution of the<br \/>\ndispute and the determination of the arbitrators shall be final and binding. The<br \/>\nParties agree that they will give conclusive effect to the arbitrators&#8217;<br \/>\ndetermination and award and that judgment thereon may be entered and enforced by<br \/>\nany court of appropriate jurisdiction. The tribunal shall consist of three<br \/>\n(3)  arbitrators, one of whom shall be appointed by each Party and the third of<br \/>\nwhom, who shall act as chairman, shall be jointly nominated by the two<br \/>\narbitrators nominated by the Parties. Failing agreement as to the identity of<br \/>\nthe third arbitrator within five Business Days of being required to do so, such<br \/>\nthird arbitrator shall be nominated by the International Court of Arbitration in<br \/>\naccordance with the ICC Rules. The place of arbitration shall be London,<br \/>\nEngland. The language to be used in the arbitration shall be English, and any<br \/>\ndocuments or portions of them presented at such arbitration in a language other<br \/>\nthan English shall be accompanied by an English translation thereof. The<br \/>\narbitrators shall decide such dispute in accordance with the substantive laws of<br \/>\nEngland applicable hereto.<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<table style=\"BORDER-COLLAPSE:COLLAPSE\" width=\"100%\" cellpadding=\"0\" border=\"0\" cellspacing=\"0\">\n<tbody>\n<tr>\n<td width=\"4%\" valign=\"top\">\n<p>3.4<\/p>\n<\/td>\n<td valign=\"top\">\n<p>If a dispute is referred to arbitration pursuant to Clause 3.3 above, unless<br \/>\nthe arbitrators rule otherwise, the obligations of the Parties shall not be<br \/>\nsuspended and the provisions of this Agreement shall continue to be carried out<br \/>\nby the Parties.<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<table style=\"BORDER-COLLAPSE:COLLAPSE\" width=\"100%\" cellpadding=\"0\" border=\"0\" cellspacing=\"0\">\n<tbody>\n<tr>\n<td width=\"4%\" valign=\"top\">\n<p>3.5<\/p>\n<\/td>\n<td valign=\"top\">\n<p>The courts of England shall, subject to Clause 3.6 below, have non-exclusive<br \/>\njurisdiction with respect to the enforcement of the arbitration provisions of<br \/>\nthis Agreement and the Parties expressly submit to the jurisdiction of such<br \/>\ncourts with respect to any proceedings to enforce the arbitration provisions of<br \/>\nthis Agreement. Each Party irrevocably waives any objection which it might at<br \/>\nany time have to the courts of England being nominated as the forum to hear and<br \/>\ndecide any such proceedings and agrees not to claim that the courts of England<br \/>\nare not a convenient or appropriate forum.<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<table style=\"BORDER-COLLAPSE:COLLAPSE\" width=\"100%\" cellpadding=\"0\" border=\"0\" cellspacing=\"0\">\n<tbody>\n<tr>\n<td width=\"4%\" valign=\"top\">\n<p>3.6<\/p>\n<\/td>\n<td valign=\"top\">\n<p>Without resulting in the waiver of any remedy under this Agreement and in<br \/>\nconjunction with each disputing Party&#8217;s rights in accordance with Rule 25 of the<br \/>\nICC Rules, nothing in this Clause 3 shall preclude a disputing Party from<br \/>\nseeking injunctive relief from a court pending the commencement of arbitral<br \/>\nproceedings in accordance with Clause 3.3 (or pending the arbitral tribunal&#8217;s<br \/>\ndetermination of the merits of the dispute). The Parties hereby irrevocably<br \/>\nsubmit to the non-exclusive jurisdiction of the courts of England for such<br \/>\ninjunctive relief and waive any objection or defence they may have to the venue<br \/>\nor jurisdiction of such courts. Without limiting the generality of the<br \/>\nforegoing, the Parties shall have the right to seek injunctive relief in any<br \/>\ncourt of competent jurisdiction and the seeking of injunctive relief in one or<br \/>\nmore jurisdiction shall not preclude a Party from seeking such relief in any<br \/>\nother jurisdiction.<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<table style=\"BORDER-COLLAPSE:COLLAPSE\" width=\"100%\" cellpadding=\"0\" border=\"0\" cellspacing=\"0\">\n<tbody>\n<tr>\n<td width=\"4%\" valign=\"top\"><strong>4.<\/strong><\/td>\n<td valign=\"top\"><strong><u>General Provisions<\/u> <\/strong><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<table style=\"BORDER-COLLAPSE:COLLAPSE\" width=\"100%\" cellpadding=\"0\" border=\"0\" cellspacing=\"0\">\n<tbody>\n<tr>\n<td width=\"4%\" valign=\"top\">\n<p>4.1<\/p>\n<\/td>\n<td valign=\"top\">\n<p>This Agreement contains all the terms agreed by the Parties regarding the<br \/>\nsubject matter of this Agreement and supersedes any prior agreements,<br \/>\nunderstandings or arrangements between them, whether oral or in writing and no<br \/>\nrepresentation, undertaking or promise shall be taken to have been given or<br \/>\nimplied from anything said or written in negotiations between the Parties prior<br \/>\nto this Agreement except as set out in this Agreement.<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<hr>\n<p align=\"right\"><strong>Execution Copy <\/strong><\/p>\n<\/p>\n<table style=\"BORDER-COLLAPSE:COLLAPSE\" width=\"100%\" cellpadding=\"0\" border=\"0\" cellspacing=\"0\">\n<tbody>\n<tr>\n<td width=\"4%\" valign=\"top\">\n<p>4.2<\/p>\n<\/td>\n<td valign=\"top\">\n<p>All notices, consents, determinations, requests, approvals, demands, reports,<br \/>\nobjections, directions and other communications required or permitted to be<br \/>\ngiven under this Agreement shall be in writing and shall be deemed to have been<br \/>\nduly given and to be effective on the date on which such communications are<br \/>\ndelivered by personal delivery, by facsimile transmission (with telephone<br \/>\nconfirmation of receipt), by courier service or by registered or certified mail,<br \/>\npostage prepaid, return receipt requested, at the address set forth at the head<br \/>\nof this Agreement or at such other address as the Party to whom the notice is<br \/>\nsent has designated by prior notice to the other Parties in accordance with the<br \/>\nprovisions of this Agreement.<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<table style=\"BORDER-COLLAPSE:COLLAPSE\" width=\"100%\" cellpadding=\"0\" border=\"0\" cellspacing=\"0\">\n<tbody>\n<tr>\n<td width=\"4%\" valign=\"top\">\n<p>4.3<\/p>\n<\/td>\n<td valign=\"top\">\n<p>The failure of any Party to enforce or to exercise, at any time or for a<br \/>\nperiod of time, any term of or any right arising pursuant to this Agreement does<br \/>\nnot constitute and shall not be construed as, a waiver of such term or right and<br \/>\nshall in no way affect that Party&#8217;s right later to enforce or exercise it. No<br \/>\nvariation or amendment to this Agreement shall be effective unless in writing<br \/>\nsigned as an agreement by authorised representatives of the Parties.<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<table style=\"BORDER-COLLAPSE:COLLAPSE\" width=\"100%\" cellpadding=\"0\" border=\"0\" cellspacing=\"0\">\n<tbody>\n<tr>\n<td width=\"4%\" valign=\"top\">\n<p>4.4<\/p>\n<\/td>\n<td valign=\"top\">\n<p>The Guarantor shall procure that, during the term of this Agreement, AFL<br \/>\nshall remain an affiliate of the Guarantor.<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<table style=\"BORDER-COLLAPSE:COLLAPSE\" width=\"100%\" cellpadding=\"0\" border=\"0\" cellspacing=\"0\">\n<tbody>\n<tr>\n<td width=\"4%\" valign=\"top\">\n<p>4.5<\/p>\n<\/td>\n<td valign=\"top\">\n<p>All monies payable by the Guarantor to the Beneficiary hereunder shall be<br \/>\npaid in the manner and currency in which the relevant amount is payable by AFL<br \/>\nunder the Principal Agreement and in full without set-off or counterclaim of any<br \/>\nkind and free and clear of any deduction or withholding of any kind save as<br \/>\nrequired by law. If any deduction or withholding must be made by law, the<br \/>\nGuarantor will pay that additional amount which is necessary to ensure that the<br \/>\nBeneficiary receives a net amount equal to the full amount which it would have<br \/>\nreceived if the payment had been made without the deduction or withholding.<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<table style=\"BORDER-COLLAPSE:COLLAPSE\" width=\"100%\" cellpadding=\"0\" border=\"0\" cellspacing=\"0\">\n<tbody>\n<tr>\n<td width=\"4%\" valign=\"top\">\n<p>4.6<\/p>\n<\/td>\n<td valign=\"top\">\n<p>This Agreement shall terminate on the date that all AFL obligations pursuant<br \/>\nto the Principal Agreement have been performed and discharged in full in<br \/>\naccordance with the terms thereof, except for any outstanding obligations<br \/>\nguaranteed under this Agreement that have not been paid or performed by AFL.\n<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<table style=\"BORDER-COLLAPSE:COLLAPSE\" width=\"100%\" cellpadding=\"0\" border=\"0\" cellspacing=\"0\">\n<tbody>\n<tr>\n<td width=\"4%\" valign=\"top\">\n<p>4.7<\/p>\n<\/td>\n<td valign=\"top\">\n<p>If at any time any provision of this Agreement is or becomes illegal, invalid<br \/>\nor unenforceable under the law of any jurisdiction, such illegality, invalidity<br \/>\nor unenforceability shall not affect the legality, validity or enforceability of<br \/>\nthe remaining provisions of this Agreement under such law or under the law of<br \/>\nany other jurisdiction.<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<table style=\"BORDER-COLLAPSE:COLLAPSE\" width=\"100%\" cellpadding=\"0\" border=\"0\" cellspacing=\"0\">\n<tbody>\n<tr>\n<td width=\"4%\" valign=\"top\">\n<p>4.8<\/p>\n<\/td>\n<td valign=\"top\">\n<p>The Guarantor unconditionally and irrevocably agrees that the execution,<br \/>\ndelivery and performance by it of this Agreement constitutes private and<br \/>\ncommercial acts, and to the extent that the Guarantor or any of its revenues,<br \/>\nassets or properties shall be entitled, with respect to any proceeding relating<br \/>\nto enforcement of this Agreement or any award thereunder at any time brought<br \/>\nagainst such Party or any of its revenues, assets or properties, to any<br \/>\nsovereign or other immunity from suit, from jurisdiction, from attachment prior<br \/>\nto judgment, from attachment in aid of execution of a judgment, from execution<br \/>\nof a judgment or from any other legal or judicial process or remedy, and to the<br \/>\nextent that in any jurisdiction there shall be attributed such an immunity, the<br \/>\nGuarantor irrevocably agrees not to claim and irrevocably waives such immunity.\n<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<table style=\"BORDER-COLLAPSE:COLLAPSE\" width=\"100%\" cellpadding=\"0\" border=\"0\" cellspacing=\"0\">\n<tbody>\n<tr>\n<td width=\"4%\" valign=\"top\">\n<p>4.9<\/p>\n<\/td>\n<td valign=\"top\">\n<p>The rights and remedies provided by this Agreement are cumulative and not<br \/>\nexclusive of any rights or remedies provided by law.<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<table style=\"BORDER-COLLAPSE:COLLAPSE\" width=\"100%\" cellpadding=\"0\" border=\"0\" cellspacing=\"0\">\n<tbody>\n<tr>\n<td width=\"4%\" valign=\"top\">\n<p>4.10<\/p>\n<\/td>\n<td valign=\"top\">\n<p>The Beneficiary represents and warrants it shall not transfer, assign, pledge<br \/>\nor otherwise encumber this Agreement or any rights it has pursuant to this<br \/>\nAgreement.<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<hr>\n<p align=\"right\"><strong>Execution Copy <\/strong><\/p>\n<\/p>\n<table style=\"BORDER-COLLAPSE:COLLAPSE\" width=\"100%\" cellpadding=\"0\" border=\"0\" cellspacing=\"0\">\n<tbody>\n<tr>\n<td width=\"4%\" valign=\"top\">\n<p>4.11<\/p>\n<\/td>\n<td valign=\"top\">\n<p>The Parties do not intend any term of this Agreement to be enforceable under<br \/>\nthe Contracts (Rights of Third Parties) Act, 1999 by any person who is not a<br \/>\nParty to this Agreement.<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><strong>IN WITNESS WHEREOF,<\/strong> the Parties hereto have executed this<br \/>\nAgreement effective as of the day and year first above written.<\/p>\n<\/p>\n<table width=\"40%\" cellpadding=\"0\" border=\"0\" cellspacing=\"0\">\n<tbody>\n<tr>\n<td width=\"7%\"><\/td>\n<td width=\"1%\" valign=\"bottom\"><\/td>\n<td width=\"92%\"><\/td>\n<\/tr>\n<tr>\n<td colspan=\"3\" valign=\"top\"><strong>ABDULLAH ABUNAYYAN TRADING CORP.,<\/strong>\n<\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<\/tr>\n<tr>\n<td valign=\"top\">\n<p>By:<\/p>\n<\/td>\n<td valign=\"bottom\"><\/td>\n<td valign=\"bottom\">\n<p>\/s\/ Mohamed Abdullah Abunayyan<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<table width=\"40%\" cellpadding=\"0\" border=\"0\" cellspacing=\"0\">\n<tbody>\n<tr>\n<td width=\"23%\"><\/td>\n<td width=\"2%\" valign=\"bottom\"><\/td>\n<td width=\"75%\"><\/td>\n<\/tr>\n<tr>\n<td valign=\"top\">\n<p>Print  Name:<\/p>\n<\/td>\n<td valign=\"bottom\"><\/td>\n<td valign=\"bottom\">\n<p>Mohamed Abdullah Abunayyan<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td valign=\"top\">\n<p>Date:<\/p>\n<\/td>\n<td valign=\"bottom\"><\/td>\n<td valign=\"bottom\">\n<p>December 20, 2009<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"3\"><\/td>\n<\/tr>\n<tr>\n<td colspan=\"3\" valign=\"top\"><strong>ALCOA INC.<\/strong><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<table width=\"40%\" cellpadding=\"0\" border=\"0\" cellspacing=\"0\">\n<tbody>\n<tr>\n<td width=\"7%\"><\/td>\n<td width=\"1%\" valign=\"bottom\"><\/td>\n<td width=\"92%\"><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<\/tr>\n<tr>\n<td valign=\"top\">\n<p>By:<\/p>\n<\/td>\n<td valign=\"bottom\"><\/td>\n<td valign=\"bottom\">\n<p>\/s\/ Klaus  Kleinfeld<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<table width=\"40%\" cellpadding=\"0\" border=\"0\" cellspacing=\"0\">\n<tbody>\n<tr>\n<td width=\"17%\"><\/td>\n<td width=\"1%\" valign=\"bottom\"><\/td>\n<td width=\"82%\"><\/td>\n<\/tr>\n<tr>\n<td valign=\"top\">\n<p>Print  Name:<\/p>\n<\/td>\n<td valign=\"bottom\"><\/td>\n<td valign=\"bottom\">\n<p>Klaus  Kleinfeld,  President  and  Chief  Executive  Officer<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td valign=\"top\">\n<p>Date:<\/p>\n<\/td>\n<td valign=\"bottom\"><\/td>\n<td valign=\"bottom\">\n<p>December 20, 2009<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n","protected":false},"template":"","meta":{"_acf_changed":false,"_stopmodifiedupdate":true,"_modified_date":"","_cloudinary_featured_overwrite":false},"corporate_contracts_companies":[6617],"corporate_contracts_industries":[9453],"corporate_contracts_types":[9613,9617],"class_list":["post-42648","corporate_contracts","type-corporate_contracts","status-publish","hentry","corporate_contracts_companies-alcoa-inc","corporate_contracts_industries-manufacturing__fabrication","corporate_contracts_types-operations","corporate_contracts_types-operations__jv"],"acf":[],"_links":{"self":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts\/42648","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts"}],"about":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/types\/corporate_contracts"}],"wp:attachment":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/media?parent=42648"}],"wp:term":[{"taxonomy":"corporate_contracts_companies","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_companies?post=42648"},{"taxonomy":"corporate_contracts_industries","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_industries?post=42648"},{"taxonomy":"corporate_contracts_types","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_types?post=42648"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}