Guarantee Demand Clause Samples
The Guarantee Demand clause outlines the process by which a party can formally request payment or performance under a guarantee. Typically, this clause specifies the conditions that must be met for a demand to be valid, such as providing written notice and supporting documentation to the guarantor. Its core function is to ensure that there is a clear, standardized procedure for making claims under a guarantee, thereby reducing disputes and providing certainty for both parties.
Guarantee Demand. If Party A fails to pay punctually any amounts under this Agreement, to the extent that Party B desires to exercise its rights under the Guarantee, the Trustee shall on behalf of Party B, make the written demand for payment pursuant to the Guarantee.
Guarantee Demand. The Security Agent shall not be entitled to make a demand under the Guarantees prior to the occurrence of an Event of Default which has not been waived.
Guarantee Demand. If the Counterparty fails to pay punctually any amounts under this Agreement, the Trust shall make the written demand for payment pursuant to the LBHI Guarantee or the Eligible Guarantee, as the case may be. * * * * * *