Common use of Binding Guarantees Clause in Contracts

Binding Guarantees. After the issuance of a Disbursement Approval with respect to a Disbursement, the Guarantee with respect to such Disbursement shall be binding on Ex-Im Bank even though payment under the relevant Debt Document is held to be unenforceable, except to the extent provided in Sections 4.04, 4.05 and/or 4.06. Ex-Im Bank acknowledges and agrees that the binding nature of a Guarantee shall not be affected by any Borrower’s failure to comply with any of the Guarantee eligibility requirements set forth in Section 3. Ex-Im Bank reserves the right to pursue any or all other available remedies in the event of any such failure.

Binding Guarantees. After the issuance of a Disbursement Lease Delivery Approval with respect to a DisbursementLease Delivery, the Guarantee with respect to such Disbursement Lease Supplement Financed Amount shall be binding on Ex-Im Bank even though payment under the relevant Debt Document Lease Agreement and/or Lease Supplement(s) is held to be unenforceable, except to the extent provided in Sections 4.04, 4.05 and/or 4.06. Ex-Im Bank acknowledges and agrees that the binding nature of a Guarantee shall not be affected by any BorrowerLessee’s failure to comply with any of the Guarantee eligibility requirements set forth in Section 3. Ex-Im Bank reserves the right to pursue any or all other available remedies in the event of any such failure.

Binding Guarantees. After the issuance of a Disbursement Lease Delivery Approval with respect to a DisbursementLease Delivery, the Guarantee with respect to such Disbursement Lease Supplement Financed Amount shall be binding on Ex-Im Ex­Im Bank even though payment under the relevant Debt Document Lease Agreement and/or Lease Supplement(s) is held to be unenforceable, except to the extent provided in Sections 4.04, 4.05 and/or 4.06. Ex-Im Ex­Im Bank acknowledges and agrees that the binding nature of a Guarantee shall not be affected by any BorrowerLessee’s failure to comply with any of the Guarantee eligibility requirements set forth in Section 3. Ex-Im Ex­Im Bank reserves the right to pursue any or all other available remedies in the event of any such failure.