Guarantee Coverage Sample Clauses
The Guarantee Coverage clause defines the extent and limitations of a guarantor's responsibility for fulfilling the obligations of another party under a contract. Typically, this clause specifies which debts, liabilities, or performance requirements are covered by the guarantee, and may outline any exclusions or conditions that apply. For example, it might state that the guarantor is only liable for specific payments or up to a certain monetary limit. The core function of this clause is to clearly delineate the scope of the guarantor's liability, thereby reducing ambiguity and managing risk for all parties involved.
POPULAR SAMPLE Copied 2 times
Guarantee Coverage. Political Violence 17 4.06 Guarantee Conditions 18 4.07 Coverage of the Guarantee 18 4.08 Binding Guarantees 18 4.09 Timely Demand 19 4.10 No Amendment 19
Guarantee Coverage. The scope of guaranty of creditor hereunder covers all debts occurred under this contract by the debtor, including but not limited to principals, interest expenses, compounded interests, penalties, processing fees, default expenses, damage compensation, legal fees, escrow fees, taxation expenses, arbitration fees, travel fees, assessment fees, auction fees, property preservation fees, compulsory execution fees and other expenses for realization of the creditor’s right.
Guarantee Coverage. CUSTOMERs are covered for the following ACUITY UNIFIED COMMUNICATIONS LIMITED services (as described in the ACUITY UNIFIED COMMUNICATIONS LIMITED ORDER FORM): DSL DSL Subject to the other terms of this AGREEMENT, ACUITY UNIFIED COMMUNICATIONS LIMITED will provide SERVICE CREDITS to the CUSTOMER in respect of the unavailability of a LEASED LINE SERVICE as follows: the CUSTOMER will receive one SERVICE CREDIT for each hour the LEASED LINE SERVICE is unavailable, after the first hour each SERVICE CREDIT is worth the equivalent of one day’s fee for the relevant LEASED LINE SERVICE SERVICE CREDITS will be credited by ACUITY UNIFIED COMMUNICATIONS LIMITED against future invoices, up to a maximum of 20 SERVICE CREDITS in any twelve month period The CUSTOMER acknowledges that ACUITY UNIFIED COMMUNICATIONS LIMITED provides the telecommunications network facilities underlying the SERVICE provided. The use of ACUITY UNIFIED COMMUNICATIONS LIMITED’s telecommunications network facilities is subject to the following terms, breach of which may result in suspension or termination of the end-user’s right to use the SERVICE:-
Guarantee Coverage. 4.1.1 No loan shall be covered by the Guarantee unless such loan, constitutes a Qualified Loan in accordance with the terms and conditions in this Agreement.
4.1.2 For a loan to constitute a Qualified Loan for the purpose of the Guarantee, each such loan shall:
(a) be given by a Qualified Lender to a Qualified Borrower for a Qualified Project;
(b) not be used to finance any Prohibited Purposes or a Refinancing;
(c) be financed by the Arranger in an amount no less than the Arranger’s Loan;
(d) comply with the Arranger’s environmental and social standards and “▇▇▇▇’s approach to safeguarding sustainability in support to the power sector in Sub Saharan Africa, December 2016” which is enclosed in Schedule 12;
(e) use a sourcing process for material and services in a non-discriminatory and quality oriented fashion;
(f) not be in contradiction to the Exclusion List enclosed in Schedule 9;
(g) together with the other Qualified Loans of the same Qualified Borrower exceed the Minimum Guaranteed Qualified Loan Amount (i.e. EUR 50,000);
(h) together with the other Qualified Loans of the same Qualified Borrower not exceed the Maximum Guaranteed Qualified Loan Amount (i.e. EUR 3,000,000);
(i) together with all Qualified Loans of all Qualified Borrowers not exceed the Maximum Guaranteed Amount at such time;
(j) be utilised on a date no earlier than as of the Effective Date and no later than the date falling twelve (12) months prior to the Coverage Expiration Date;
(k) have a term exceeding a period of six (6) months;
(l) have a term not exceeding a period of four (4) years;
(m) have a term which expires prior to the date falling five (5) years after the date that this Guarantee Agreement was duly executed by each Party thereto;
(n) be made at interest rates and on terms substantially consistent with those generally prevailing among private commercial lenders in each relevant Qualified Borrower’s jurisdiction and otherwise be in form and substance satisfactory to the Guarantor;
(o) be identified in the Qualified Loan Schedule, Schedule 6 (Qualified Loan Schedule);
(p) be issued in euro, or a currency of any of Kenya, Tanzania, Mozambique, Rwanda, Zambia, Senegal, Zimbabwe, Mali, Sierra Leone or in any other agreed jurisdiction.
4.1.3 No loan shall constitute a Qualified Loan for the purpose of the Guarantee if any remaining part of the total payments of principal, that is not covered by the Guarantee, on such loan is guaranteed by, any other party, including the Guaranto...