Personal guarantee clause samples

· Deed of Indenture for the Issuance of Simple Unsubordinated Debentures, with Additional Personal Guarantee, Not Convertible into Shares, in a Single Series, for Public Placement with Limited Efforts of the First Issuance of TIM S.A. (“Instrumento Particular de Escritura de Emissão de Debêntures Simples, da Espécie Quirografária com Garantia Adicional Fidejussória, não Conversíveis em Ações, em Série Única, para Distribuição Pública com Esforços Restritos da Primeira Emissão da Tim S.A.”), dated as of January 9, 2019, between TIM S.A., as issuer, Simplific Pavarini Distribuidora de Títulos e Valores Mobiliários Ltda., as fiduciary agent, and TIM Participações S.A., as guarantor. The total amount of the issuance was R$1,000,000,000 through the issuance of 100,000 debentures each with a nominal value of R$10,000 on the issuance date and in a single series. The debentures are non-convertible and unsubordinated with an additional personal guarantee. For all legal purposes, the issuance date is January 15, 2019 and the term of the debentures is of 18 months as from the issuance date, or July 15, 2020.

China Lending Group made a business loan that was backed by both a corporate and personal guarantee. The corporation was engaged in a seasonal-based business and the personal guarantee was backed by holdings of a forest property. With the difficulties facing the Chinese economy, the corporation was unable pay. China Lending Group, though it believed the forest property adequately covered the loan, took a reserve as selling the forest property could take upward of 18 months to sell. Going forward, China Lending Group does not wish to engage in and will heavily scrutinize collateral that is relatively illiquid.