1. In the event of default by the borrower, the pool of banks shall notify the Commission. The guarantee shall be enforced after a grace period to be agreed with the pool of banks. No additional interest shall be paid by the guarantor during this period.
2. The enforcement of the guarantee shall not require acceleration of any remaining payments due in accordance with the credit agreement.
Compiled from an official source version. Later amendments or repeals may not be reflected; the official text prevails. · Read the official text ↗ · Data as of 2026-07-04
CitationArticle 3 of Commission Regulation (EEC) No 2150/91 (LawPlayer, data as of 2026-07-04)
