Direct and Indirect Guarantee Sample Clauses

Direct and Indirect Guarantee. In accordance with the Client's instructions, the Bank issues the Guarantee internally (“direct guarantee”) or it assigns another bank (“Second Bank”) with the issue of the Guarantee (“indirect guarantee”) under its corresponding liability ("Counter-Guarantee"). In the absence of the Client's instruction, the Bank may issue an indirect guarantee if it deems this necessary under the circumstances with consideration to the Client's interests.