K-Sure Sample Clauses
The K-Sure clause refers to provisions involving the Korea Trade Insurance Corporation (K-Sure), which is a government-backed export credit agency in South Korea. This clause typically outlines the terms under which K-Sure provides insurance or guarantees for transactions, such as covering non-payment risks in international trade deals. For example, it may specify the conditions for claims, the scope of coverage, and the obligations of the insured party. The core function of the K-Sure clause is to allocate and mitigate financial risk in cross-border transactions, thereby facilitating smoother and more secure international trade.
K-Sure. The Borrower agrees, and shall procure that the other Security Parties agree, that if K-Sure makes a payment to the K-Sure Facility Lenders (whether through the K-Sure Agent or otherwise) pursuant to the K-Sure Insurance Policy, the K-Sure Facility Lenders (whether through the K-Sure Agent or otherwise) may act on the instructions of K-Sure and the Security Parties shall have no claims whatsoever in respect of any loss, damage or expense suffered or incurred by them as a result thereof.
K-Sure. Each Party agrees that:
(a) K-sure shall not have any obligations or liabilities under this Agreement unless it has become a Lender;
(b) K-sure shall be a third party beneficiary of the rights expressed to be for its benefit or exercisable by it under this Agreement; and
(c) This Agreement may not be amended to limit, modify or eliminate any rights of K-sure without its prior written consent.
K-Sure. Each Party agrees that (i) K-sure shall not have any obligations or liabilities under this Agreement unless and until it becomes a New Lender in accordance with Clause 27 (Changes to the Parties) (ii) K-sure shall be a third party beneficiary of the terms of this Agreement and the rights expressed to be for its benefit or exercisable by it under this Agreement and (iii) this Agreement may not be amended to limit, modify or eliminate any rights of K-sure without its prior written consent, save as per in accordance with Clause 34.3 (Amendments, consents and waivers).
K-Sure. (a) In case of any conflict or inconsistency between the terms of any Finance Documents and the K-sure Insurance Policy, the terms of the K-sure Insurance Policy shall prevail, and to the extent of such conflict or inconsistency, none of the Lenders, Agent or the Security Agent shall assert to K-sure, the terms of the relevant Finance Documents.
(b) Each party agrees that (i) K-sure shall not have any obligations or liabilities under this Agreement unless and until it becomes a Lender pursuant to the terms of this Agreement, (ii) K-sure shall be a third party beneficiary of the terms of this Agreement and the rights expressed to be for its benefit or exercisable by it under this Agreement and (iii) this Agreement may not be amended to limit, modify or eliminate any rights of K-sure without its prior written consent.
K-Sure