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16.3 Waiver of sovereign immunity
Each of the Guarantee Fund and lceland consents generally to the issue of any
process in connection with any Dispute and to the giving of any type of relief or
remedy against it, including the making, enforcement or execution against any of its
property or assets (regardless of its or their use or intended use) of any order or
judgment. lf either the Guarantee Fund or lceland or any of their respective property
or assets is or are entitled in any jurisdiction to any immunity from service of process
or of other documents relating to any Dispute, or to any immunity from jurisdiction,
suit, judgment, execution, attachment (whether before judgment, in aid of execution
or otherwise) or other legal process, this is irrevocably waived to the fullest extent
permitted by the law of that jurisdiction. Each of the Guarantee Fund and lceland also
irrevocably agree not to claim any such immunity for themselves or their respective
property or assets.