English to Portuguese Law/Patents Law: Contract(s)

Any intended co-surety, whether one of us or otherwise, may not be bound for any reason, or may be released, and/or any intended security may not be obtained or may be be released; the Principal Debt may be compromised or otherwise varied or novated, in which event I shall be liable for the obligation, at the option of the CREDITOR either as such obligation existed before or as it exists after the compromise, variation or novation;

(Tenho uma ideia do que será mas gostaria de ter a certeza, obrigado desde já pela ajuda!)