Payment guarantees Clause Samples

Payment guarantees. Upon payment of milestone payments M1, M4 and M8, cf. the Milestone and Payment Plan in Appendix 5, the Supplier shall provide Lokaltog with an on-demand advance payment guarantee equivalent to the amount of the milestone payment in question. The guarantor must be rated A- or equivalent by at least two of the three rating institutions Moody’s, Standard & Poor’s or Fitch, and the guarantor and guarantee shall be subject to Lokaltog’s approval. All the payment guarantees will be released upon the preliminary takeover of the last train (M12- P5, last train).

Payment guarantees. In the event that the Seller grants Credit to the Buyer, he shall demand to the Buyer, before beginning the operations, to guarantee the payment of the Product at the supply moment through a bond or a promissory letter or any other kind of guarantee, in the form, amount and life that the Seller determines. The bond shall be issued by any institution that has executed any prior bond agreement with the Seller. If the guarantee is a promissory letter, it shall be issued under the terms fixed by the Seller and it could be obtained by the Buyer’s bank of preference.

Payment guarantees. 8.6.1 Provided that GENCO has provided the notice of First Commissioning Date to UETCL as contemplated by Clause 6.2.1, then on or before the earlier of the actual Commercial Operations Date or the deemed Commercial Operations Date (determined in accordance with the provisions of Clause 6.3.1), UETCL shall procure the issuance of the Bank Guarantee in the Bank Guarantee Required Amount issued by an Acceptable Bank. 8.6.2 UETCL shall procure that the Bank Guarantee or a replacement Bank Guarantee (in case of its expiration) shall be in effect during the Term. GENCO shall be entitled to draw upon the Bank Guarantee with prior written notice to UETCL for any payment due to GENCO from UETCL under an Invoice (a) that is overdue for at least thirty (30) days, or (b) upon termination pursuant to Clause 10.3. 8.6.3 UETCL further covenants and agrees that within 30 days of any drawing of funds by GENCO under the Bank Guarantee, UETCL shall provide to GENCO either (a) a replacement Bank Guarantee in the Bank Guarantee Required Amount (which shall replace and not be in addition to the Bank Guarantee upon which the relevant drawing of funds was made), or (b) confirmation from the issuing bank addressed to GENCO that the guaranteed amount under the Bank Guarantee has been replenished up to, or continues to be equal to, the Bank Guaranteed Required Amount (a “Bank Guarantee Continuance Notice”)). 8.6.4 If UETCL fails to: (a) arrange issuance of the first Bank Guarantee in accordance with the provisions of Clause 8.6.1; or (b) provide a replacement Bank Guarantee or Bank Guarantee Continuance Notice in accordance with the provisions of Clause 8.6.3; then (i) the provisions of Clause 10.1.2(b) shall apply and, (ii) GENCO may suspend deliveries of electricity hereunder until the UETCL has cured the breach of its obligations under Clause 8.6.1 (by the provision of the original Bank Guarantee) or Clause 8.6.3 (by the provision of a replacement Bank Guarantee or Bank Guarantee Continuance Notice) as the case may be. 8.6.5 Each Bank Guarantee shall, save as otherwise agreed by the Parties, be valid for a twelve (12)

Payment guarantees. SECU- RITY -

Payment guarantees. No later than one (1) Business Day after the date hereof, the Purchaser will deliver to the Seller the GME Payment Guarantee and the Shanghai Subsidiaries Payment Guarantee, dated the date thereof and duly executed by the GME Guarantor and Shanghai Subsidiaries Guarantor, respectively. Each of the Payment Guarantees is in full force and irrevocable and constitutes the legal, valid and binding obligation of the respective Guarantors, enforceable in accordance with its terms, and has not been amended, withdrawn or rescinded in any respect. No event has occurred which, with or without notice, lapse of time or both, would constitute a default on the part of the respective Guarantors under the corresponding Payment Guarantees.

Payment guarantees. By executing this Agreement, Biver unconditionally guarantees payment of all amounts payable by Parent under subsections (a) and (d) of this Section 8.3. By executing this Agreement, ▇▇▇▇ unconditionally guarantees payment of all amounts payable by Purchaser under subsections (b) and (d) of this Section 8.3.

Payment guarantees this guarantee shall remain in force until Acceptance in writing by HPC of the ordered FLTs. to the agreement (whichever date is later).

Payment guarantees. CLAUSE THIRTEEN — Within the thirty (30) day-term prior to the date on which the power supply object hereof commences, under the Accounting and Settlement (SCL) System of CCEE, PURCHASER shall give a payment guarantee to SELLER sufficient to liquidate the three (3) billing months through one of the types listed below, which will be accepted at SELLER’s discretion after [illegible] as to the quality, regardless of the type of constitution, under the penalty of payment of a ten percent (10%) fine on the value of the AGREEMENT, without prejudice to the application of the other penalties set forth herein in view of the non-fulfillment of its clauses and conditions. If PURCHASER does not fulfill the obligation provided for in this Clause in the due term, SELLER will be discharged from commencing to supply the POWER object hereunder on 05/01/2009, and the POWER supply may be delayed for the same number of months which PURCHASER possibly may delay the granting of guarantee for the payment provided for herein. a) Letter of Bank Guaranty; b) Pledge of PURCHASER’s receivables; c) Guarantee Insurance contracted in favor of SELLER; or d) Pledge of bonds of the Public Federal Certificates of Indebtedness. Sole Paragraph — If the guarantee is not anymore valid and in force in advance for reasons attributed to PURCHASER and/or sued by SELLER, the PURCHASER, within a fifteen (15) day-term after the notice from SELLER, shall replace it by another one of equal tenor and form, under the penalty of a fine of the caput of this Clause.

Payment guarantees. The Service Provider reserves the right to request legal and financial information and payment guarantees from the Organizer if it considers it necessary.