Government Guarantee Sample Clauses
A Government Guarantee clause establishes that a government entity will assume responsibility for fulfilling certain obligations if the primary party fails to do so. Typically, this clause applies in contracts where a private party is performing services or supplying goods to a government or on its behalf, and the government guarantees payment or performance. For example, if a contractor is building infrastructure for a public agency, the government may guarantee payment to the contractor even if the agency defaults. The core function of this clause is to provide assurance and reduce risk for the counterparty by ensuring that the government will step in to meet contractual commitments, thereby enhancing trust and facilitating the agreement.
Government Guarantee. 17.1 The Borrower must pay to the Corporation as and when required by the Corporation such fee or fees as the Corporation notifies are required by the Treasurer on behalf of the State under section 13(3) of the Act in respect of the guarantee by the Treasurer arising under section 13(1) of the Act in relation to liabilities incurred by the Corporation in connection with, or to facilitate, the making of Advances to the Borrower under the Facility. Such fee may be adjusted from time to time.
17.2 Any fees payable under clause 17.1 will be identified and recovered separately from interest payable under the Facility.
Government Guarantee. Upon the execution of this Contract by all Parties SOCAR shall procure the execution by the Government of the Guarantee and Undertaking attached hereto as Appendix V. An executed original of the said Guarantee and Undertaking shall be provided to each Contractor Party and shall be included in the executed copy of the Contract to be submitted to the Parliament of the Azerbaijan Republic. Upon ratification and approval of this Contract by the Parliament of the Azerbaijan Republic and publication in the customary manner the Guarantee and Undertaking of the Government shall have the force of law.
Government Guarantee. On and after the Closing, the Buyer shall, and shall cause the Purchased Companies to, make reasonable best efforts to (a) promptly following the Closing enter into a guaranty agreement with the U.S. government on substantially similar terms as the Guaranty Agreement, dated June 23, 2020 (the “Guaranty Agreement”) between Griffon and the Defense Contract Management Agency, acting on behalf of the U.S. Government and (b) until such guaranty agreement is consummated, abstain from taking any action, or failing to take any action, that could reasonably result in Griffon being liable for any loss, damages, liabilities, claims, interest, penalties, fees, costs and expenses (including reasonable, documented attorney’s fees and disbursements) (the “Guaranty Losses”) under the Guaranty Agreement. Buyer shall indemnify and hold harmless, to the fullest extent permitted by Law, Griffon and its Affiliates and their respective directors, officers, employees, stockholders, members and agents for any and all Guaranty Losses.
Government Guarantee. (a) Section 22(1) of the ▇▇▇▇ ▇▇▇▇▇▇▇▇▇▇▇ ▇▇▇ ▇▇▇▇ provides as follows:
(a) the cash equivalent of gold due, payable and deliverable by Gold Corporation, the Mint or GoldCorp under this Act; and
(b) all moneys due and payable by Gold Corporation in respect of the exercise of the power to buy, borrow or otherwise acquire and to sell, lend or otherwise dispose of, deal in and hold Australian and foreign currency, is guaranteed by the Treasurer, in the name and on behalf of the Crown in right of the State.”
(b) Under Section 3(2) of the Gold Corporation ▇▇▇ ▇▇▇▇:
Government Guarantee. A condition precedent to this Loan and its closing is the receipt by lender from the RBS/USDA of a Conditional Commitment for the Guarantee of ninety percent (90%) of the Loan amount. Borrower and Guarantor(s) agrees to execute all documents, furnish all information, and satisfy all conditions necessary to comply with the rules, regulations, and requirements of RBS/USDA applicable to this Loan and the guaranty thereof. Borrower and Guarantor(s) agree to cooperate with Lender in modifying any of the Loan Documents to meet requirements of RBS/USDA.
Government Guarantee. The Lender shall have received the RBS/USDA Guaranty in a form satisfactory to the Lender.
Government Guarantee. The Central Reserve Bank of Perú participates in this License Contract in accordance with Law 26221 and Legislative Decree No. 668, for the purpose of awarding to the Contractor the State's guarantees, which are indicated in this Clause, and in accordance with current legislation as of the Date of Subscription. The Guarantees awarded under this clause are also valid in case of an eventual transfer of rights, in accordance with the Organic Law of Hydrocarbons, Law 26221, and the Present Contract.
Government Guarantee. 2.1 In consideration of the Service Provider entering into, and performing or having agreed to perform its obligations under the Agreement (and for valuable consideration, receipt of which the Government hereby acknowledges), the Government irrevocably and unconditionally, as a continuing obligation:
Government Guarantee. Within five Business Days after its receipt of such notice, the Borrower, at its own expense, shall, if requested by such assignee, execute and deliver to the Agent, new Notes to the order of such assignee in an amount equal to the Commitments and Term Loans assumed by it pursuant to such Assignment and Acceptance and, if the assigning Lender has surrendered any Note for exchange in connection with the assignment and has retained Commitments or Term Loans hereunder, new Notes to the order of the assigning Lender in an amount equal to the Commitments and Term Loans retained by it hereunder. Such new Notes shall be dated the same date as the surrendered Notes and be in substantially the form of Exhibit B hereto, as applicable.
Government Guarantee. 17.1 The Borrower must pay to the Corporation as and when required by the Corporation such fee or fees as the Corporation notifies are required by the Treasurer on behalf of the State under section 13(3) of the Act in respect of the guarantee by the Treasurer arising under section 13(1) of the Act in relation to liabilities incurred by the Corporation in connection with, or to facilitate, the making of Advances to the Borrower under the Facility. Such fee may be adjusted from time to time.