Form FR4
OPERATOR'S GUARANTY
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WHEREAS...................................................................................
(hereinafter referred to as "Operator") has entered
into an agreement known as the Offshore Pollution Liability Agreement
dated 4th September 1974, as amended from time to time (hereinafter
referred to as
"OPOL"), and whereas ..................................................................
(hereinafter referred to as "Guarantor") is agreeable
to assisting Operator to establish its financial responsibility
with respect to the performance of its obligations under OPOL
as required by The Offshore Pollution Liability Association Limited
(hereinafter referred to as "Association").
NOW, THEREFORE, subject to the provisions of the clauses
below, the undersigned Guarantor hereby guarantees to the Association
to discharge Operator's liability under OPOL in the event and
to the extent such liability has not been discharged by Operator.
Guarantor's liability under this Guaranty shall attach only
in respect of Incidents occurring during the period the Guaranty
is in force. In no event shall Guarantor's liability hereunder
exceed the amount of Operator's liability under OPOL.
This Guaranty shall terminate at 2400 hours G.M.T. on the
earliest of the following dates:
(1) the date on which Operator ceases to be a Party to OPOL;
(2) the date 60 days after receipt by the Association of written
notice that the Guarantor has elected to terminate this Guaranty;
or
(3) the date substitute evidence of financial responsibility
has been accepted by the Association;
provided, however, that if obligations exist or subsequently
arise as a result of Incidents occurring during the period this
Guaranty is in force, then this Guaranty shall not terminate
as respects such obligations until they are satisfactorily discharged.
This Guaranty to be effective 0001 hours G.M.T. .................
day of .................. 20.........
Date ...............................
Name of Guarantor ..........................................................
Mailing Address ............................................................
By ...................................................(Authorised
Signature)
Name .....................................................(Typed
or Printed)
Title ....................................................(Typed
or Printed)
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