Common use of Guarantee Facility Clause in Contracts

Guarantee Facility. In case a payment demand is made by the beneficiary under a Guarantee, the Lender will send a notice to the Borrower informing the Borrower of such payment demand, and specifying (a) the amount to be reimbursed by the Borrower, (b) the date on which such reimbursement is to be made, and (c) the account to which the reimbursement amount is to be transferred. The Borrower shall make each reimbursement in accordance with the respective notice of the Lender.

Guarantee Facility. In case a payment demand is made by the beneficiary under a Guarantee, the Lender will send a notice to the Borrower informing the Borrower of such payment demand, and specifying (a) the amount to be reimbursed by the Borrower, (b) the date on which such reimbursement is to be made, and (cb) the account to which the reimbursement amount is to be transferred. The Borrower shall make each reimbursement in accordance with the respective notice of the Lender.