Common use of Appointment Guarantee Clause in Contracts

Appointment Guarantee. 25. The amount, duration and content of the guarantees issued by the Bank on behalf of the Borrower (i.e. the appointer) shall be subject to the guarantee documents issued by the Bank. However, if the guarantee is tax payable, and the actual tax payable calculated by the tax authority exceeds the original guarantee amount, the Borrower agrees to adjust the total amount of guarantee at any time, and is willing to pay the full amount of tax payable and overdue fines. 26. The duration of the limits shall be from the date of signing the contract to the date when the Borrower repays the Bank for the full payment paid on behalf of the Borrower. In addition, if the Borrower has any of the conditions mentioned in Article 6, the Borrower promises to pay immediately the Bank in cash according to the balance of the undischarged guarantee responsibility of the Bank to the Bank as a back-up payment and will be refunded by the Bank without paying any interest. 27. The Borrower shall pay the handling fee of the guarantee to the Bank, and shall be paid in full according to the agreed payment method. If the tax payable guaranteed by the Bank exceeds the original bonded amount calculated by the tax authority, the Borrower shall pay an additional guarantee fee for the difference. When the time limits for the instruments guaranteed by the Bank on behalf of the Borrower expires, apply for an extension and send a letter to renew the policy, the Borrower must still pay the extension guarantee fee in accordance with the regulations of the responsible bank. However, when the guarantee period is shortened, no return shall be requested for the fees which has been paid. If there are postage and any other expenses, the Borrower should pay them separately. 28. When the Bank guarantees on behalf of the Borrower expires, the Borrower shall perform it as scheduled and inform the Bank of its handling status at any time. If the Borrower delays and fails to perform and thereby cause damage to the Bank, the Borrower shall be liable for any interest incurred and the penalty from the date of payment by the Bank to the date of payment by the Borrower to the Bank. 29. When the guaranteed amount is calculated in foreign currency, and the risk of exchange rate fluctuation shall be borne by the Borrower. If the Bank suffers losses due to fluctuation in foreign exchange rates, the Borrower is willing to take full responsibility thereof. The foreign currency amount guaranteed in this Contract is converted into New Taiwan Dollars, unless otherwise agreed, shall be calculated at the highest exchange rate during the guarantee period or determined by the Bank. 30. If the Borrower fails to perform the agreed matters with other creditor, once the other creditor notifies the Bank in writing to perform the guarantee responsibility, the Bank can directly perform the guarantee responsibility based on the guarantee issued by this Contract. The reason for the defense with the other creditor or any third party shall claim immunity against the Bank, and shall not claim immunity against the Bank for force majeure such as natural disasters, wars or any other force.