UNDERTAKING

I/We, ______________ son of __________________, adult, holding CNIC

No._______________________, M/s. _____________________________ resident
of/ having office at _______________________________________ (hereinafter
referred to as the “Customer”); do hereby declare, undertake and indemnify M/s.
Bank Alfalah Limited (hereinafter referred to as the “Bank”), as under;

1. That I/We have forwarded LG request amounting to Rs._________________

in favor of ____________________________ for
purpose_____________________ for a period of _______________, where
the beneficiary requires the guarantee text to include payment of liquidated
damages over and above the guarantee amount in case of late payment to the
beneficiary.

2. That I/we understand that being an Islamic Bank, your system and process
does not support/recognize payment of any interest/liquidated damages.

3. I/We do hereby undertake that I/we shall be solely responsible for any amount,
if paid by the Bank, as per the interest/liquidity damage clause (being inserted
in LG text as per requirement of beneficiary), and pay such amount to the
Bank immediately upon demand and without any cavil, objection, reference or
recourse on first written demand of the Bank. Such interest/liquidated
damages shall be considered part of the guarantee amount and shall be
recovered by the Bank in a similar manner.

4. That I/we do, hereby, acknowledge and confirm that Bank’s payment of any
interest/liquidated damages over and above the guarantee amount, under the
guarantee issued as per beneficiary’s requirement, shall be lawful and well
within its rights to claim.

5. That I/we do hereby undertake to completely adjust/settle all my liabilities

under the said guarantee through my own sources on or before [*]/within ____
days after payment under the guarantee to the beneficiary, without any
objection whatsoever.

6. That I/we further declare and undertake that if the undersigned / executant of
this undertaking fails to repay the said liability on or before [*], I do, hereby
authorize the Bank to recover/adjust/settle all the outstanding dues/liabilities
from the accounts/assets of the firm without giving any notice/intimation to
this effect.
 7. That I/we hereby declare and indemnify Bank Alfalah Limited and undertake
to keep the Bank fully indemnified, safe and harmless from and against any
and all risks, losses, claims, damage liabilities, costs, expenses and other
charges in respect of the issuance of the guarantee as per our request and
payment of any amount including interest/liquidated damages to the
beneficiary there under.

8. That I/we am/are executing this Undertaking in favour of the “Bank” for self
as proprietor/customer and on behalf of my [firm name], having its office at
___________________________________, in presence of the following
witnesses on this the _______ day of ____________ 20___, here at Karachi.

Deponent / executants
For & on Behalf of
M/S. ENERQUIP PVT LTD

_________________
Authorized Signatory

This Undertaking has been executed in the presence of the following witnesses:
________________________________ ________________________________

____________________________ ________________________
Name: Name:
Address: Address:
NIC No.: NIC No.: