COLLATERAL SECURITIES. 12.1 In order to provide collateral security for any breach of obligations or responsibilities arising from the contractual relationship, the Air Operator is obliged to set a bank guarantee in favour of the Buyer as for its own debt amounting to at least EUR fifty thousand (50,000). The bank guarantee must be set prior to the execution of the Agreement.
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Samples: Purchased Services Agreement for Scheduled, Purchased Services Agreement
COLLATERAL SECURITIES. 12.1 In order to provide collateral security for any breach of obligations or responsibilities arising from the contractual relationship, the Air Operator is obliged to set a bank guarantee in favour of the Buyer as for its own debt amounting to at least EUR fifty thousand (50,00050.000). The bank guarantee must be set prior to the execution of the Agreement.
Appears in 1 contract
Samples: Purchased Services Agreement
COLLATERAL SECURITIES. 12.1 In order to provide collateral security for any breach of obligations or responsibilities arising from the contractual relationship, the Air Operator is obliged to set a bank guarantee or cash deposit in favour of the Buyer as for its own debt amounting to at least EUR fifty thousand (50,00050.000). The bank guarantee must be set prior to the execution of the Agreement.
Appears in 1 contract
