Launch Risk Guarantee (LRG) Sample Clauses

Launch Risk Guarantee (LRG). 4.3.1 For an Ariane 5 Launch, the Launch Risk Guarantee shall consist of the Refund Option described in Sub-paragraph 4.3.2 below available to CUSTOMER as provided for in Sub-paragraphs 4.3.1.1 and 4.3.1.2 hereafter through purchase of a Refund Option. 4.3.1.1 Against payment to ARIANESPACE of the non refundable amount set forth in Sub-paragraph 8.1.2.1 of Article 8 of this Agreement, CUSTOMER shall have the ability, by written notice received by ARIANESPACE within THIRTY (30) days following the date of execution of this Agreement, to reserve the Refund Option, to be exercised by CUSTOMER pursuant to Sub-paragraph 4.3.1.2 below. 4.3.1.2 Once CUSTOMER has paid the amount mentioned in Sub-paragraph 4.3.1.1 above, ARIANESPACE shall maintain the Refund Option available to CUSTOMER for the price specified in Sub-paragraph 8.1.2.2 of Article 8 of this Agreement and CUSTOMER shall have until [***] to exercise the option by written notice, in which case the provisions of Sub-paragraph 4.3.2 below shall apply. If CUSTOMER does not exercise the option by [***], CUSTOMER shall be deemed to have waived the option, unless ARIANESPACE has extended the period of time for accepting the option. 4.3.2 Should the Refund Option have been exercised by CUSTOMER and the Launch Mission result in a: 4.3.2.1 Launch Failure, and provided all amounts due prior to launch by CUSTOMER to ARIANESPACE under this Agreement have been actually been made, ARIANESPACE shall pay to CUSTOMER an amount equal to the Guarantee Amount, or 4.3.2.2 Partial Failure, and provided all amounts due prior to launch by CUSTOMER to ARIANESPACE under this Agreement have been actually been made, ARIANESPACE shall [***] if the Launch Mission has resulted in a Partial Failure. The resulting amount will be subject to [***] provided for the launching, in accordance with the following formula: [***]. Notwithstanding the foregoing, if the insurance policy taken out by CUSTOMER (i) provides for a deductible higher or lower than PFF, such deductible as provided for in the said insurance policy shall apply, or (ii) does not provide for a deductible, no deductible shall apply. 4.3.3 Any amount due by ARIANESPACE to CUSTOMER pursuant to this Paragraph 4.3 shall be paid within the SIXTY (60) day period following the date when the Parties have agreed on the occurrence of a Launch Failure or Partial Failure, whichever is relevant, and on the corresponding Loss Quantum, provided CUSTOMER has paid all amounts due and payable b...