Guarantee Commitment Clause Samples
A Guarantee Commitment clause establishes a party's obligation to ensure the performance or fulfillment of another party's duties under a contract. Typically, this clause requires a guarantor to step in and satisfy obligations—such as payment or delivery—if the primary party fails to do so. For example, in a loan agreement, a third party may guarantee repayment if the borrower defaults. The core practical function of this clause is to provide assurance and reduce risk for the beneficiary by securing a reliable backup for contractual obligations.
POPULAR SAMPLE Copied 2 times
Guarantee Commitment. Any Seller selling products requiring warranties as specified by the Consumer Code (for example: Computers, TVs, Appliances and all electrical or electronic products) must have a service and a warranty of 1 year minimum. In the absence of this warranty, the Seller must repair the item at its expense or replace it within a firm period of one month following receipt of the notification email sent by ▇▇▇▇▇. In the event that the item cannot be repaired for hidden defect, the Seller shall have a firm deadline of 1 month following the reception of the notification email sent by Jumia to proceed with the replacement before the automatic deduction of the amount.
Guarantee Commitment. Subject to the terms and conditions hereof, the Issuing Lender, in reliance on the agreements of the other Lenders set forth in Section 2.3(a), agrees to issue the Guarantee for the account of the Borrower on the Closing Date.
Guarantee Commitment. A copy of the fully executed Guarantee Commitment, which shall be in full force and effect until completion of the Closing.
Guarantee Commitment. Under the guarantee conditions, Manufacturer will provide replacement of the damage planks. If the respective Manufacturer Laminate Flooring is no longer available, the customer may choose a substitute of comparable quality from the current Manufacturer Laminate Floor Collection. As a year depreciation of at least 10% (due to use) has to be taken into consideration, Manufacturer will make the replacement delivery dependent upon additional payment by the customer. Any liability for other damage, as well as costs incurred through installation, picking up and transporting damaged Manufacturer Laminate Flooring, is exempt.
Guarantee Commitment. 8 2.2. Fees and Other Charges.......................................... 8 2.3. Guarantee Participations........................................ 8 2.4. Reimbursement Obligation of the Borrower........................ 9 2.5. Obligations Absolute............................................ 9 2.6.
Guarantee Commitment. 15 ARTICLE 3..................................................................18