Form of Bank Guarantee. 1. Collaterals that are provided in the form of a Bank Guarantee shall comply with the following specifications:
Form of Bank Guarantee. THIS BANK GUARANTEE is issued on this [day] day of [month] [year] by [Bank’s details to be inserted] (the “Guarantor”) in favour of Trans Austria Gasleitung GmbH, a company organised and existing under the laws of Austria having its registered offices at Xxxxxxx Xxxxxxxxxxxx 000, X-0000 Xxxxxx (together with its successors and permitted assignees “TAG”). [Bank Name to be added] herewith declares to have a Rating equal or higher than Baa3 Xxxxx’x or equivalent Standard & Poor’s or Fitch at the date of issue of this Bank Guarantee.
Form of Bank Guarantee. Instructions: This Guarantee is to be typed on the Bank’s letterhead and submitted together with the Proposal. To: Singapore Tourism Board Tourism Court 1 Xxxxxxx Xxxxxx Xxxx Xxxxxxxxx 000000 (hereinafter called “STB”).
Form of Bank Guarantee. The Hon. Minister Ministry of Energy, Commerce, Industry and Tourism 1421 Nicosia CYPRUS Our Letter of Guarantee No.: …………….. In consideration of your having contracted by way of an Exploration and Production Sharing Contract dated............................ (hereinafter called “the Contract”) with , a company formed and existing in accordance with the laws of (hereinafter called “the Contractor”) for the execution of the minimum work obligations (the “Obligations”) of the Period ( the “Applicable Term”) as identified in accordance with Article of Annex D of the Contract, the value of which for purposes of this Guarantee is calculated in accordance with Article 4.2.8 of the Contract at € (in words: Euro) and since it being a condition of the Contract that a bank guarantee be established. We, the undersigned bank, waiving all objections and defences under the aforesaid Contract, hereby irrevocably, unconditionally and independently guarantee to pay to you without delay on first written demand any amount claimed by you up to the extent of € (in words: Euros) against your written declaration that the Contractor has failed to perform the Obligations with respect to the Applicable Term as set out in Annex D of the Contract, in accordance with its provisions and has failed to make the payment to the Republic of Cyprus as provided in Article 4.2.9 of the Contract. It is understood that any change, modification, addition or amendment, which may be made to the terms and conditions of the Contract or to the payment to be made on account thereof or any extension of the time of performance of the works or any composition or settlement shall not in any way release us from our irrevocable and unconditional continuing liability hereunder and we hereby expressly waive our right to consent to, or to receive notice of, any such change, modification, addition, composition, settlement or forbearance. This Guarantee for the Obligations with respect to the Applicable Term is unconditional and irrevocable and will be discharged not later than thirty (30) days following the date of completion of such Obligations (“Expiry”), and in any event upon issue of the Exploitation Licence as provided for under the Contract, by which date we must have received any claim by hand delivery or by registered mail or by cable. All stamp duty payable to the Republic of Cyprus under this Guarantee, shall be borne by the Contractor without reference and/or recourse to the Republic. This Guarantee s...
Form of Bank Guarantee. (To be executed on Non-Judicial Stamp Paper of Rs.100/- by the successful tenderer)
Form of Bank Guarantee. 1. In consideration of the Government of Sierra Leone represented by the Director General of the Petroleum Directorate (hereinafter referred to as “the State”) having entered into a Petroleum Licence for the block dated (hereinafter referred to as “Licence”, which expression shall include all the amendments agreed to between the State and the Licensee, thereto), with M/s having its registered office at _ (hereinafter referred to as “Licensee”, which expression unless repugnant to the context or meaning thereof include all its successors, administrators, executors and assigns), and the State have agreed that the Licensee shall furnish to the State, a bank guarantee (hereinafter referred to as “Guarantee”) towards its minimum financial obligations as provided in the Contract for US$(XXX) for the performance of its obligations under the Licence.
Form of Bank Guarantee. 16 Article 20 Validity and renewal of the Bank Guarantee 18 Article 21 Credit Limit 18 Article 22 Modifications of the collaterals 19
Form of Bank Guarantee. Any Bank Guarantee issued or to be issued by BNU under this Agreement shall be in the form of the Existing Guarantee, or in such other form as agreed by the Macau SAR, BNU and the Company.
Form of Bank Guarantee. Collaterals that are provided in the form of a Bank Guarantee shall comply with the following specifications: the Bank Guarantee shall be provided in the form of the template that is available on the website of the Allocation Platform and updated from time to time or in a form that substantially follows the template; the Bank Guarantee shall be written in English; the Bank Guarantee covers all Auctions organized by the Allocation Platform as per additional financial terms in accordance with Article 15; the Bank Guarantee shall allow partial and multiple drawing by the Allocation Platform, up to the maximum amount guaranteed; the Bank Guarantee shall provide for payment upon first request of the Allocation Platform. It shall further provide that, if the Allocation Platform calls upon the Bank Guarantee, the bank shall pay automatically without any other condition than the receipt of a demand sent by SWIFT through intermediary bank confirming that the signatures on the request appear to conform to specimen held by the bank. the Bank Guarantee shall be irrevocable, unconditional and non-transferable; the Bank Guarantee may alternative include handwritten signature(s) or qualified electronic signature (s) (QES) from the issuing Bank. In the event the Bank Guarantee is signed with qualified electronic signature(s) (QES), all the following amendments shall be signed with a qualified electronic signature(s) (QES); the bank issuing the Bank Guarantee shall be permanently established, including via a branch in a EU member state, European Economic Area, Energy Community Contracting Party, Energy Community Observer Country, or Switzerland and shall be acceptable for the business bank of the Allocation Platform; the bank issuing the Bank Guarantee or the financial group it belongs to shall have a long term credit rating of not less than BBB- by Standard and Poor’s Corporation, BBB- by Fitch or Baa3 by Xxxxx’x Investors Service Inc. If the issuing bank or the financial group, the issuing bank belongs to ceases to have the required long term credit rating, the Registered Participant shall within five (5) Working Days submit to the Allocation Platform a substitute Bank Guarantee by a bank complying with the required long term credit rating or replace the Bank Guarantee by deposit. If there are industry-wide downgrades of financial institutions, the Allocation Platform may investigate what the new standards are and, at its own discretion if deemed necessary, decrease the ...
Form of Bank Guarantee. THIS BANK GUARANTEE is issued on this [day] day of [month] [year] by [Bank’s details to be inserted] (the “Guarantor”) in favour of BOG, a company organised and existing under the laws of Austria having its registered offices at Floridsdorfer Xxxxxxxxxxx 0, X-0000 Xxxxxx (together with its successors and permitted assignees “BOG”). [Bank Name to be added] herewith declares to have a Rating equal or higher than A3 Moody’s or equivalent Standard & Poor’s at the date of issue of this Bank Guarantee.
