Document:

Eleventh Amendment to Loan Agreement

 EXHIBIT 4.5 
  
 ELEVENTH AMENDMENT TO LOAN AGREEMENT 
  
 This ELEVENTH AMENDMENT TO LOAN AGREEMENT (this “Amendment”) is entered into as of November 26, 2004, among
ASSOCIATED HYGIENIC PRODUCTS LLC, a Delaware limited liability company (“Borrower”), the Lenders signatory hereto, and WELLS FARGO FOOTHILL, INC. (formerly known as Foothill Capital Corporation), a California
corporation, in its capacity as administrative agent (“Agent”) for the Lenders. 
  
 WITNESSETH: 
  
 WHEREAS,
Borrower, the Lenders and Agent have entered into that certain Amended and Restated Loan and Security Agreement dated as of March 14, 2001, as amended by that certain First Amendment to Loan Agreement effective as of May 28, 2001 , that certain
Second Amendment to Loan Agreement effective as of July 5, 2001, that certain Third Amendment and Waiver to Loan Agreement dated as of September 10, 2001, that certain Fourth Amendment to Loan Agreement dated as of December 19, 2001, that certain
Fifth Amendment to Loan Agreement dated as of April 17, 2002, that certain Sixth Amendment to Loan Agreement dated as of November 14, 2002, that certain Seventh Amendment to Loan Agreement dated as of June 19, 2003, that certain Eighth Amendment to
Loan Agreement dated as of October 15, 2003, that certain Ninth Amendment to Loan Agreement dated as of March 29, 2004, and that certain Tenth Amendment dated as of May 17, 2004 (as amended and as the same may hereafter be modified, amended,
restated or supplemented from time to time, the “Loan Agreement”; all capitalized terms not otherwise defined herein shall have the meanings ascribed to such terms in the Loan Agreement), pursuant to which the Lenders have agreed to
make loans and other financial accommodations to Borrower from time to time; and 
  
 WHEREAS, Borrower has requested that certain terms and conditions of the Loan Agreement be amended; and 
  
 WHEREAS, Agent and the Lenders have agreed to amend the Loan Agreement on the terms and conditions provided herein; 
  
 NOW THEREFORE, in consideration of the foregoing premises and other good and
valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto hereby agree as follows: 
  
 1. Amendments to Loan Agreement. 
  
 (a) Section 6.2 of the Loan Agreement, “Collateral Reporting”, is hereby amended and modified by amending and restating
clause (c) of such Section in its entirety as follows: 
  
 “(c) (i) Inventory reports specifying each Borrower’s cost and the wholesale market value of its Inventory, by category, with additional detail showing additions to and deletions from the Inventory and (ii) in the event Excess
Availability (after subtracting the amount of any payables of Borrower which are more than 60 days past due) is $2,000,000 or less at any time, a detailed list of all trade payables and royalty payments of Borrower aged in excess of historical
levels with 

 respect thereto and all book overdrafts in excess of historical practices with respect thereto after the date of such
event and until Borrower has demonstrated to the satisfaction of Agent that Borrower has maintained Excess Availability (after subtracting the amount of any payables of the Borrower which are more than 60 days past due) of $2,000,000 or more for a
period of 90 consecutive days after such event.” 
  
 (b)
Section 6 of the Loan Agreement, “Affirmative Covenants”, is hereby amended and modified by adding the following Section to the end such Section: 
  
 “6.18 Eleventh Amendment Fee. No later than January 14, 2005, pay to Agent, for the benefit of the Lenders on a pro-rata basis, an
amendment fee in the amount of $15,000, which fee shall be fully earned on November 26, 2004, and non-refundable when paid.” 
  
 (c) Section 7.8 of the Loan Agreement, “Payments, Prepayments and Amendments”, is hereby amended and modified by amending and restating
such Section in its entirety as follows: 
  
 “7.8
Payments, Prepayments and Amendments. 
  
 (a) Make any payments of principal of, or interest or fees on, Subordinated Note A-2, Subordinated Note B, Subordinated Note A-3 or Subordinated Note A-4; provided, however, that: 
  
 (i) Borrower may refinance and pay in full the Subordinated
Note A-2 with the proceeds of new subordinated debt provided by an Affiliate of Borrower on terms and conditions, and subject to a Subordination Agreement and other documents, in form and substance satisfactory to Agent; 
  
 (ii) Borrower may make regularly scheduled payments of
principal on each of Subordinated Note A-3 and Subordinated Note A-4 if (i) no Event of Default has occurred and is continuing, and (ii) Borrower has demonstrated to the satisfaction of Agent that, after giving effect to each such payment, Excess
Availability (after subtracting the amount of any payables of Borrower which are more than 60 days past due) is $10,000,000 or more; and 
  
 (iii) Borrower may make regularly scheduled payments of interest on each of Subordinated Note A-2, Subordinated Note A-3 and Subordinated
Note A-4 if (i) no Event of Default has occurred and is continuing, and (ii) Borrower has demonstrated to the satisfaction of Agent that, after giving effect to each such payment, Excess Availability (after subtracting the amount of any payables of
Borrower which are more than 60 days past due) is $2,000,000 or more; 
  
 notwithstanding the foregoing, however, in the event Excess Availability (after subtracting the amount of any payables of Borrower which are more than 60 days past due) is less than $2,000,000 at any time, Borrower may not make any
regularly scheduled payments of interest on Subordinated Note A-2, Subordinated Note A-3 or Subordinated Note A-4 after such event unless and until Borrower has demonstrated to the satisfaction of Agent that Borrower has maintained Excess

 Availability (after subtracting the amount of any payables of the Borrower which are more than 60 days
past due) of $2,000,000 or more for a period of 90 consecutive days after such event. 
  
 (b) Except in connection with a refinancing permitted by Section 7.1(e), prepay, redeem, defease, purchase, or otherwise acquire any Indebtedness of Borrower, other than the Obligations in accordance with this
Agreement. 
  
 (c) Except in connection with a refinancing
permitted by Section 7.1(e), directly or indirectly, amend, modify, alter, increase, or change any of the terms or conditions of any agreement, instrument, document, indenture, or other writing evidencing or concerning Indebtedness permitted under
Sections 7.1(b), (c) or (d).” 
  
 2.
No Other Amendments or Waivers. The execution, delivery and effectiveness of this Amendment shall not operate as a waiver of any right, power or remedy of Agent or the Lenders under the Loan Agreement or any of the other Loan Documents, nor
constitute a waiver of any provision of the Loan Agreement or any of the other Loan Documents. Except for the amendments set forth above, the text of the Loan Agreement and all other Loan Documents shall remain unchanged and in full force and effect
and Borrower hereby ratifies and confirms its obligations thereunder. This Amendment shall not constitute a modification of the Loan Agreement or any of the other Loan Documents or a course of dealing with Agent or the Lenders at variance with the
Loan Agreement or the other Loan Documents such as to require further notice by Agent or the Lenders to require strict compliance with the terms of the Loan Agreement and the other Loan Documents in the future, except as expressly set forth herein.
Borrower acknowledges and expressly agrees that Agent and the Lenders reserve the right to, and do in fact, require strict compliance with all terms and provisions of the Loan Agreement and the other Loan Documents. Borrower has no knowledge of any
challenge to Agent’s or any Lenders’ claims arising under the Loan Documents, or to the effectiveness of the Loan Documents. 
  
 3. Conditions Precedent to Effectiveness. This Amendment shall become effective as of the date hereof when, and only when, Agent shall have
received: 
  
 (a) counterparts of this Amendment
duly executed and delivered by Borrower and the Lenders; and 
  
 (b) such other information, documents, instruments or approvals as Agent or Agent’s counsel may reasonably require. 
  
 4. Representations and Warranties of Borrower. Borrower represents and warrants as follows: 
  
 (a) Borrower is a limited liability company organized,
validly existing and in good standing under the laws of the jurisdiction indicated at the beginning of this Amendment and all other jurisdictions in which the failure to be so qualified reasonably could be expected to constitute a Material Adverse
Change; 
  
 (b) The execution, delivery, and
performance by Borrower of this Amendment and the Loan Documents to which it is a party, as amended hereby, are within Borrower’s 

 limited liability company powers, have been duly authorized by all necessary limited liability company
action and do not and will not (i) violate any provision of federal, state, or local law or regulation applicable to Borrower, the Governing Documents of Borrower, or any order, judgment, or decree of any court or other Governmental Authority
binding on Borrower, (ii) conflict with, result in a breach of, or constitute (with due notice or lapse of time or both) a default under any material contractual obligation of Borrower, (iii) result in or require the creation or imposition of any
Lien of any nature whatsoever upon any properties or assets of Borrower, other than Permitted Liens, or (iv) require any approval of Borrower’s members or any approval or consent of any Person under any material contractual obligation of
Borrower; 
  
 (c) The execution, delivery, and
performance by Borrower of this Amendment and the Loan Documents to which it is a party, as amended hereby, do not and will not require any registration with, consent, or approval of, or notice to, or other action with or by, any Governmental
Authority or other Person; 
  
 (d) This Amendment
and each other Loan Document to which Borrower is a party, and all other documents contemplated hereby and thereby, when executed and delivered by Borrower will be the legally valid and binding obligations of Borrower, enforceable against Borrower
in accordance with their respective terms, except as enforcement may be limited by equitable principles or by bankruptcy, insolvency, reorganization, moratorium, or similar laws relating to or limiting creditors’ rights generally; and

  
 (e) No Default or Event of Default exists.

  
 5. Counterparts. This Amendment may be executed in
multiple counterparts, each of which shall be deemed to be an original and all of which, taken together, shall constitute one and the same agreement. In proving this Amendment in any judicial proceedings, it shall not be necessary to produce or
account for more than one such counterpart signed by the party against whom such enforcement is sought. Any signatures delivered by a party by facsimile transmission shall be deemed an original signature hereto. 
  
 6. Reference to and Effect on the Loan Documents. Upon the
effectiveness of this Amendment, on and after the date hereof each reference in the Loan Agreement to ‘“this Agreement,” “hereunder,” “hereof” or words of like import referring to the Loan Agreement, and each
reference in the other Loan Documents to “the Loan Agreement” “thereunder,” “thereof” or words of like import referring to the Loan Agreement, shall mean and be a reference to the Loan Agreement as amended hereby.

  
 7. Costs, Expenses and Taxes. Borrower agrees to pay on
demand all costs and expenses in connection with the preparation, execution, and delivery of this Amendment, including, without limitation, the reasonable fees and out-of-pocket expenses of counsel for Agent with respect thereto and with respect to
advising Agent as to its rights and responsibilities hereunder. Borrower hereby acknowledges and agrees that Agent may, without prior notice to Borrower, charge such costs and fees to Borrower’s Loan Account pursuant to Section 2.6(d) of the
Loan Agreement, which amounts shall constitute Advances under the Loan Agreement and shall accrue interest at the rate then applicable to Advances thereunder. 

 8. Governing Law. This Amendment shall be deemed to be made pursuant to the laws of the State of
Georgia with respect to agreements made and to be performed wholly in the State of Georgia, and shall be construed, interpreted, performed and enforced in accordance therewith. 
  
 9. Loan Document. This Amendment shall be deemed to be a Loan Document for all purposes. 
  
 [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK] 

 IN WITNESS WHEREOF, the parties hereto have executed and delivered this Amendment as of the day and year
first written above. 
  

					
	 BORROWER:
	 	 ASSOCIATED HYGIENIC PRODUCTS LL

			
	 	 	 By:
	 	 /s/ Owen Connelly

	 	 	 Name:
	 	 Owen Connelly

	 	 	 Title:
	 	 Vice President Finance & MIS

			
	 AGENT
	 	 	 	 
	 and LENDER:
	 	 WELLS FARGO FOOTHILL, INC.

	 	 	 as Agent and a Lender

			
	 	 	 By:
	 	 /s/ Kristy Loucks

	 	 	 Name:
	 	 Kristy Loucks

	 	 	 Title:
	 	 Vice President

 CONSENT TO RELEASE OF LIENS AND EQUIPMENT SALE 
  
 This CONSENT TO RELEASE OF LIENS AND EQUIPMENT SALE (this
“Consent”) is entered into as of November 26, 2004, among ASSOCIATED HYGIENIC PRODUCTS LLC, a Delaware limited liability company (“Borrower”), the Lenders signatory hereto, and FOOTHILL CAPITAL
CORPORATION, a California corporation, in its capacity as administrative agent (“Agent”) for the Lenders (as defined below). 
  
 WITNESSETH: 
  
 WHEREAS, Borrower, the Lenders and Agent have entered into that certain Amended and Restated Loan and Security Agreement dated as of March 14, 2001, as
amended by that certain First Amendment to Loan Agreement effective as of May 28, 2001, that certain Second Amendment to Loan Agreement effective as of July 5, 2001, that certain Third Amendment and Waiver to Loan Agreement dated as of September 10,
2001, that certain Fourth Amendment to Loan Agreement dated as of December 19, 2001, that certain Fifth Amendment to Loan Agreement dated as of April 17, 2002, that certain Sixth Amendment to Loan Agreement dated as of November 14, 2002, that
certain Seventh Amendment to Loan Agreement dated as of June 19, 2003, that certain Eighth Amendment to Loan Agreement dated as of October 15, 2003, that certain Ninth Amendment to Loan Agreement dated as of March 29, 2004, and that certain Tenth
Amendment to Loan Agreement dated as of May 17, 2004 (as amended and as the same may hereafter be modified, amended, restated or supplemented from time to time, the “Loan Agreement”), pursuant to which the Lenders have agreed to
make loans and other financial accommodations to Borrower from time to time; and 
  
 WHEREAS, pursuant to Section 7.4 of the Loan Agreement, Borrower is permitted to dispose of Equipment included by Agent in the calculation of the Term Loan B Amount so long as the disposition is a Permitted
Disposition and the proceeds of the disposition are used to repay the Term Loan as provided in such Section; and 
  
 WHEREAS, Borrower intends to sell the Nuova Red A-1 Machine located at its Oconto Falls, Wisconsin, facility and more fully described on Schedule A
hereto (the “Nuova Equipment”) on a future date and use the proceeds of the sale for purposes other than the repayment of the Term Loan as required by Section 7.4 of the Loan Agreement (such sale, the “Equipment
Sale”); and 
  
 WHEREAS, the sale of the Nuova Equipment
is not a Permitted Disposition, and Borrower has requested that Agent and the Lenders consent to the Equipment Sale and release their Liens on the Nuova Equipment in anticipation of the Equipment Sale; and 
  
 WHEREAS, Agent and the Lenders have agreed to (a) consent to the Equipment
Sale and (b) release their Liens on the Nuova Equipment, all on the terms and conditions provided herein; 

 NOW THEREFORE, in consideration of the foregoing premises and other good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, the parties hereto hereby agree that all capitalized terms not otherwise defined herein shall have the meanings ascribed to such terms in the Loan Agreement and further agree as follows:

  
 1. Consent to Equipment Sale: Release of Liens.

  
 (a) The Lenders authorize Agent to release
any and all liens or security interests held by them pursuant to the Loan Agreement against the Nuova Equipment, so long as, prior to such release (a) Agent shall have received evidence that Guaranty Business Credit Corporation shall have terminated
and released all of its Liens on the equipment more particularly described on Schedule B attached hereto (the “PCMC Equipment”), including, without limitation, evidence of the filing, in each office where Guaranty Business
Credit Corporation filed a UCC-l Financing Statement naming the PCMC Equipment as collateral, of a Uniform Commercial Code Financing Statement Amendment terminating such UCC-l Financing Statement, and (b) the Lien granted to Agent by Borrower
pursuant to the Loan Agreement shall be a first priority perfected Lien on the PCMC Equipment. Agent and the Lenders acknowledge that, as of the effective date of the satisfaction of the conditions set forth in this Section l(a), neither Agent nor
the Lenders shall have a continuing right or interest in the Nuova Equipment. 
  
 (b) Agent and the Lenders here by consent to the Equipment Sale. 
  
 (c) Upon execution of this Consent by Borrower and satisfaction of the conditions set forth in Section l(a) hereof, Agent agrees to file
such documents as Borrower may reasonably request, at Borrower’s expense, in order to release Agent’s Lien on the Nuova Equipment, including, without limitation, Uniform Commercial Code Financing Statement Amendments, as appropriate, for
filing in each office where a UCC- 1 Financing Statement has been filed or other instruments are required to terminate the filings or recordings in favor of Agent with respect to the Nuova Equipment. 
  
 2. No Other Amendments or Waivers. The execution, delivery and
effectiveness of this Consent shall not operate as a waiver of any right, power or remedy of Agent or the Lenders under the Loan Agreement or any of the other Loan Documents, nor constitute a waiver of any provision of the Loan Agreement or any of
the other Loan Documents. Borrower acknowledges and expressly agrees that Agent and the Lenders reserve the right to, and do in fact, require strict compliance with all terms and provisions of the Loan Agreement and the other Loan Documents.
Borrower has no knowledge of any challenge to Agent’s or any Lenders’ claims arising under the Loan Documents, or to the effectiveness of the Loan Documents. 
  
 3. Conditions Precedent to Effectiveness. This Consent shall become effective as of the date hereof when, and only
when, Agent shall have received: 
  
 (a)
counterparts of this Consent duly executed and delivered by Borrower and the Lenders; and 

 (b) such other information, documents, instruments or approvals as Agent or Agent’s
counsel may reasonably require. 
  
 4. Representations and
Warranties of Borrower. Borrower represents and warrants as follows: 
  
 (a) Borrower is a limited liability company organized, validly existing and in good standing under the laws of the jurisdiction indicated at the beginning of this Consent and all other jurisdictions in which the
failure to be so qualified reasonably could be expected to constitute a Material Adverse Change; 
  
 (b) The execution, delivery, and performance by Borrower of this Consent and the Loan Documents to which it is a party are within
Borrower’s limited liability company powers, have been duly authorized by all necessary limited liability company action and do not and will not (i) violate any provision of federal, state, or local law or regulation applicable to Borrower, the
Governing Documents of Borrower, or any order, judgment, or decree of any court or other Governmental Authority binding on Borrower, (ii) conflict with, result in a breach of, or constitute (with due notice or lapse of time or both) a default under
any material contractual obligation of Borrower, (iii) result in or require the creation or imposition of any Lien of any nature whatsoever upon any properties or assets of Borrower, other than Permitted Liens, or (iv) require any approval of
Borrower’s members or any approval or consent of any Person under any material contractual obligation of Borrower; 
  
 (c) The execution, delivery, and performance by Borrower of this Consent and the Loan Documents to which it is a party do not and will not
require any registration with, consent, or approval of, or notice to, or other action with or by, any Governmental Authority or other Person; 
  
 (d) This Consent and each other Loan Document to which Borrower is a party, and all other documents contemplated hereby and thereby, when
executed and delivered by Borrower will be the legally valid and binding obligations of Borrower, enforceable against Borrower in accordance with their respective terms, except as enforcement may be limited by equitable principles or by bankruptcy,
insolvency, reorganization, moratorium, or similar laws relating to or limiting creditors’ rights generally; 
  
 (e) No Liens on the PCMC Equipment exist other than the Lien of Agent; and 
  
 (f) No Default or Event of Default exists. 
  
 5. Counterparts. This Consent may be executed in multiple counterparts, each of which shall be deemed to be an
original and all of which, taken together, shall constitute one and the same agreement. In proving this Consent in any judicial proceedings, it shall not be necessary to produce or account for more than one such counterpart signed by the party
against whom such enforcement is sought. Any signatures delivered by a party by facsimile transmission shall be deemed an original signature hereto. 

 6. Costs, Expenses and Taxes. Borrower agrees to pay on demand all costs and expenses in
connection with the preparation, execution, and delivery of this Consent and the other instruments and documents to be delivered hereunder, including, without limitation, the reasonable fees and out-of-pocket expenses of counsel for Agent with
respect thereto and with respect to advising Agent as to its rights and responsibilities hereunder and thereunder. Borrower hereby acknowledges and agrees that Agent may, without prior notice to Borrower, charge such costs and fees to
Borrower’s Loan Account pursuant to Section 2.6(d) of the Loan Agreement, which amounts shall constitute Advances under the Loan Agreement and shall accrue interest at the rate then applicable to Advances thereunder. 
  
 7. Governing Law. This Consent shall be deemed to be made pursuant to
the laws of the State of Georgia with respect to agreements made and to be performed wholly in the State of Georgia, and shall be construed, interpreted, performed and enforced in accordance therewith. 
  
 8. Loan Document. This Consent shall be deemed to be a Loan Document
for all purposes. 
  
 [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]

 IN WITNESS WHEREOF, the parties hereto have executed and delivered this Consent as of the day and year
first written above. 
  

					
	 BORROWER:
	 	 ASSOCIATED HYGIENIC PRODUCTS LLC

			
	 	 	 By:
	 	 /s/ Owen Connelly

	 	 	 Name:
	 	 Owen Connelly

	 	 	 Title:
	 	 Vice President Finance & MIS

			
	 AGENT
	 	 	 	 
	 and LENDER:
	 	 WELLS FARGO FOOTHILL, INC.

	 	 	 as Agent and a Lender

			
	 	 	 By:
	 	 /s/ Kristy Loucks

	 	 	 Name:
	 	 Kristy Loucks

	 	 	 Title:
	 	 Vice President

 SCHEDULE A 
  
 NUOVA EQUIPMENT 
  

					
	 Location

	 	 Description

	 	 Serial Number

	Oconto Falls, Wisconsin	 	1980’s Nuova Red Elastic Leg Adult Diaper Machine	 	N/A

 SCHEDULE B 
  
 NUOVA EQUIPMENT 
  

					
	 Location

	 	 Description

	 	 Serial Number

	 Marion, Ohio
	 	1986 PCMC Adult Diaper Machine	 	6937Loan Facility of THB67 million offered by Bank Thai (Public) Co. Ltd

 Exhibit 4.6 
  

TRANSLATION 
  
 For and on behalf of 
  
                         DSG INTERNATIONAL LIMITED 
 BANK THAI (PUBLIC) COMPANY LIMITED 
  
 - Signded -    - Signded - 
 GUARANTEE AGREEMENT 
 Authorized Signature 
  
 Done at Bank Thai (Public) Company Limited 
 Date
                                        

  

					
	(A) We	  	{	  	 DSG International Ltd.,              nationality
                                
 (Name of juristic person) Registration No.
 Represented by
                                        
the authorized person
                      Aged
         years, of              ethnicity             
nationality.
 (Name of natural person) Citizenship ID Card No
                            .

  
 Having the office located at No.
         Village No. - on                      Road
             Subdistrict  
                              District
                             Province Bangkok Metropolis. 
  

					
	(B) We	  	{	  	                                       
   of
                                        
nationality.
 (Name of juristic person) Registration No
                                       
 .
 Represented by                     
the authorized person                     .
                      Aged          years, of
             ethnicity              nationality
 (Name of natural person) Citizenship ID Card No
                            .

  
 Having the office located at No.
         Village No.      on Soi
                         
 Road                      Sub-district
                     District
                     
 Province
                                        

  

					
	(C) We	  	{	  	                                       
   of
                                        
nationality.
 (Name of juristic person) Registration No
                                       
 .
 Represented by                     
the authorized person                     .
                      Aged          years, of
             ethnicity              nationality
 (Name of natural person) Citizenship ID Card No
                            .

  
 Having the office located at No.
         Village No.      on Soi
                         
 Road                      Sub-district
                     District
                     
 Province
                                        

  

					
	(D) We	  	{	  	                                       
   of
                                        
nationality.
 (Name of juristic person) Registration No
                                       
 .
 Represented by                     
the authorized person                     .
                      Aged          years, of
             ethnicity              nationality
 (Name of natural person) Citizenship ID Card No
                            .

  
 Having the office located at No.
         Village No.      on Soi
                         
 Road                      Sub-district
                     District
                     
 Province
                                        

  
 

 

 hereinafter shall be referred to as the “GUARANTOR”, agrees to enter into this Guarantee
Agreement in favour of BANK THAI (PUBLIC) COMPANY LIMITED, which hereinafter shall be referred to as the “BANK” upon the terms and conditions as follows: 
  
 Clause 1. The Guarantor hereby undertakes to underwrite every type of debt of DSG INTERNATIONAL (THAILAND)
COMPANY LIMITED, which hereinafter shall be referred as the “Debtor”, who prior to the signing of this Agreement is already indebted to the Bank and/or is indebted at the time of signing this Agreement including debts that the
Debtor shall have owed to the Bank after the date of signing this Agreement, irrespective of whether or not it is the debt of an overdrawn loan facility, an overdraft facility, the debt in relation to the letter of credit, trust receipt, the
discount/rediscount sale of bills, debt in relation to an aval or acceptance of bills at the request of the Debtor; or other debts which are related to bills, money notes, a debt incurred in connection with hedging and against possible loss for
currency exchange rate as a result of the fluctuation of the foreign exchange market before or after the date of delivery. The debts related to the issue by the Bank of the Letter of Guarantee to the debtor and any other liabilities, including debts
incurred in connection with debt restructuring or debt incurred as a result of composition or arrangement with the debtor, the Guarantor hereby agrees to underwrite as a joint debtor with the Debtor for payment of debt to the Bank in the amount of
67,000,000.- Baht (Sixty Seven Million Baht only). 
  
 In
addition to debts to the credit line as mentioned in the preceding paragraph, the Guarantor further agrees that the Guarantor shall yet be liable for other accessory obligations including all damages that the Bank must suffer in connection with
dunning notices or payment demands or taking legal action against the debtor to enforce the payment of debt. 
  
 As the guarantee pursuant to the preceding paragraph is to underwrite the debt that has existed before or at the signing of this Agreement and/or that
which shall have existed in the future, both the Guarantor and the Bank mutual agree that in the event of payment of debt having been made by the Debtor to the Bank as long as the Bank has not delivered a notice to notify that the Guarantor is duly
released of its obligations under this Guarantee Agreement, it shall be held that this Guarantee Agreement is still in full force and effect to underwrite also the debts that may have incurred in the future or newly incurred debt with the Bank.

  
 Clause 2. In the event that the Debtor has defaulted on
payment for every item or any particular item of debt or that the Debtor at court order has gone into the official receivership or that the Debtor has died, become an incompetent person or quasi-incompetent person or has disappeared or been absent
from the domicile or cannot be found; or in the event that the Debtor may be no longer unable to enjoy the benefits of the condition on the beginning and end of time or has ceased or dissolved its business or its business has been seized or attached
according to the order or writ of execution of court or competent officer; or in any other event that preclude the operation of business, the Guarantor further agrees that it shall forthwith pay the outstanding debt of the debtor to the Bank; and
the Guarantor further agrees to permit the Bank to debit every type of accounts of the Guarantor it has had with the Bank for settlement of debt under this Agreement immediately. The Guarantor’s liability shall be as a joint debtor to the
Debtor and further permits the Bank to demand that any particular guarantor or every or several guarantors as the Bank may deem fit make 
  
 

 

 payment of the underwritten debt, either in part or in whole, immediately, without giving prior notice to the Debtor. And
the Guarantor further agrees that it shall not raise any one particular grounds as a claim or as an excuse to release the guarantor from the liability existed under this Agreement. 
  
 In the event that the debt underwritten under this Agreement is a debt incurred as a result of issuance by the Bank of a
Letter of Guarantee to third party at the request of the Debtor, the Guarantor shall give its consent in writing to the effect that if the Creditor demands that the Bank make payment under the Letter of Guarantee issued by the Bank, the Bank has the
right to make a payment according to such demand immediately without prior notice to the Guarantor and/or to the Debtor; and without questioning the Debtor that if the Debtor shall still have a defense or although the Bank shall be informed that the
Debtor still has a defense, if the Bank shall deem fit, then the Bank shall have the right to make such payment without raising a defense that the Debtor has had against the Creditor. 
  
 Clause 3. The Guarantor agrees to allow the Bank to grant an extension of time or renew the Agreement in favor of the
Debtor or agrees to a new debt restructuring or amendment to various types of agreements related to debts pursuant to Clause 1 and/or documents that are held to form part of said various types of the agreements or any agreements relating to the debt
mentioned in Clause 1 or enter into a compromise agreement with the debtor as the Bank may deem fit without prior notice to or prior consent of the Guarantor. The Guarantor shall not hold the said extension of time or renewal of the Agreement
or the new debt restructuring or amendment to various types of the agreements relating the debt pursuant to Clause I and/or the entering into the said compromise agreement as grounds for release of its liability absolutely. 
  
 Clause 4. This guarantee shall be valid indefinitely and the Guarantor
shall not revoke this guarantee regardless of grounds so long as the Bank has not received the payment of debt mentioned in Clause 1 in full. 
  
 Clause 5. This Guarantee is validly binding upon the Guarantor although it shall subsequently appear that the debtor shall not be held liable on
grounds of the execution of mistaken legal act that gives rise to the debt or on grounds that the debtor becomes an incompetent person or such legal act is invalid regardless of causes, without consideration that while entering into a guarantee
agreement, the Guarantor is whether or not aware of the grounds of such mistake or incompetence or invalidity of such legal act. 
  
 Clause 6. The Bank reserves the right to discharge the debt either in part or in whole, in favor of the debtor or the right to waiver to enforce
the judgment, the pledge agreement, the mortgage agreement or any security, which has already existed or that shall have existed in the future, whether in part or in whole, with or without notice to the Guarantor, the Guarantor shall yet be held
liable therefore under this Agreement and the Guarantor shall not raise these circumstances as a claim or an excuse for it to be released of the liability under this Agreement until such time the underwritten debt shall have been paid in full.

  
 Clause 7. The Bank reserves the right to assert a claim
or a non-claim or to release the obligation in favor of any particular Guarantor without prior consent of or notice to other Guarantors. The remaining other Guarantors shall yet be liable for payment of debt to the amount that the Debtor owes to the
Bank until such time the Bank shall have received the payment of debt in full. 
  
 

 

 Clause 8. In the event of death of the Debtor and the Bank has not instituted legal proceedings to
enforce payment of debt against the Debtor’s heir or estate or successor or assignee until the expiration of 1 year of the date of the death of the Debtor, the Guarantor shall waive the right to raise the statute of limitations as a defense
against the Bank and shall further agree to settle the debt of the amount stands outstanding to the Bank until such time the Bank shall have received the payment of debt in full. 
  
 Clause 9. Even though any acts done by the Bank may have precluded the Guarantor from subrogating either in part or
in whole the rights, the mortgage, the ledge, the preferential rights or any one of them, which the Debtor has given to the Bank prior to or at the time of signing the Guarantee Agreement for payment of debt, the Guarantor shall not be released of
its liability whether in part or in whole. 
  
 Clause 10.
Throughout the period of time that the Bank has not yet received the payment of debt or any money as specified in Clause 1 in full, the Guarantor agrees that it shall not assume the subrogation of rights from the Bank to claim repayment against
the Debtor’s property. 
  
 Clause 11. In the event of
any refund to be made by the Bank of any money it has received to the execution officer or official receiver or to any individual by the effect of the law or the court order or to competent officer, the Guarantor agrees to acknowledge that the Bank
has not yet received the payment of debt and the Guarantor then agrees to repay the money to the Bank in full. 
  
 Clause 12. If the Guarantor has relocated its domicile, it is the duty of the guarantor to give a written notice thereof to the Bank and an array
of contact letters, dunning letters, notices or any other letters to be delivered to the Guarantor, whether or not sent by registered mail or delivered by hand, if it has been sent to the location, address specified herein above or to a new address
as may be notified by the Guarantor, it shall be considered that it has been duly sent to the Guarantor irrespective of whether or not it is actually received by a person. 
  
 Clause 13. The Guarantor agrees to hand over the following: ___________________________________________________

  
 _________________________________________________________________________________________________________ 
  
 _________________________________________________________________________________________________________ 
  
 to be held in possession of the Bank as security until such time the Bank shall have received payment of debt in full.

  
 

 

 To witness, the Guarantor has affixed its signature together with the corporate Seal (if there is any) as
evidence on the date, in the month and the year shown above. 
  
 For and on behalf of 
 DSG INTERNATIONAL LIMITED 
 - Company Seal Affixed - 
  

					
	 Signature: 
	 	- Signed -        - Signed -	 	Guarantor
	 	 	(Authorised Signature)	 	 
			
	 Signature: 
	 	 	 	Guarantor
			
	 	 	(                                      
                                      )	 	 
			
	 Signature: 
	 	 	 	Guarantor
			
	 	 	(                                      
                                      )	 	 
			
	 Signature: 
	 	 	 	Witness
			
	 	 	(                                      
                                      )	 	 
			
	 Signature: 
	 	- Signed -	 	Witness
	 	 	(Asanee Wangbiboolchai)	 	 
			
	 Signature: 
	 	- Signed -	 	Witness/Typist
	 	 	(Mr. Pongchan Chuayboonchoom)

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00086-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00086-of-00352.parquet"}]]