PLC Guarantee Sample Clauses
A PLC Guarantee is a contractual provision where a parent company (PLC) agrees to take responsibility for the obligations of its subsidiary under a specific agreement. In practice, this means that if the subsidiary fails to fulfill its contractual duties—such as making payments or delivering goods—the parent company will step in to meet those obligations. This clause provides assurance to the other party that they will be protected from losses if the subsidiary defaults, thereby reducing the risk of non-performance and increasing the reliability of the contractual arrangement.
PLC Guarantee. PLC hereby unconditionally and irrevocably guarantees as of the completion of the Business Combination to Purchaser by means of an independent guarantee promise the full, due and timely performance and observance of any and all obligations of Seller and Local Sellers under this Agreement or the Transaction Documents (each, a "Guaranteed Obligation" and together, the "Guaranteed Obligations") ("PLC Guarantee"). The PLC Guarantee shall not be affected by any act, omission, matter or thing which, but for this clause 18, would reduce, release or prejudice any of the Guaranteed Obligations under this clause 18 (without limitation and whether or not known to it or Purchaser). If any payment by Seller or any discharge given by Purchaser is avoided or reduced as a result of insolvency or any similar event, the liability of Seller and PLC shall continue as if the payment, discharge, avoidance or reduction had not occurred and Purchaser shall be entitled to recover the value or amount of that security or payment. Provided that the liability of PLC shall under no circumstances exceed that of Seller under the terms of this Agreement or the other Transaction Documents, whenever Seller does not pay any amount when due under or in connection with the Guaranteed Obligations, if the due date for Seller's obligation has passed for more than fifteen (15) Business Days and Purchaser's claim has not been settled by Seller, PLC shall, within five (5) Business Days of receipt of a written request from Purchaser pay that amount, provided that the only remedy of Purchaser under the PLC Guarantee shall be the payment of sums due under the Agreement or damages for breach of contract. The consideration for the Guaranteed Obligations shall be the payment in cash by Purchaser to PLC of an amount equal to EUR 1.00, receipt of which is hereby acknowledged by PLC.
PLC Guarantee. PLC hereby unconditionally and irrevocably guarantees as of the completion of the BCA to Purchaser by means of an independent guarantee promise the full, due and timely performance of any obligations of Sellers under this Agreement and the Transaction Documents ("PLC Guarantee"). Purchaser may, as between the Parties without effecting the validity of any payment request, call upon the PLC Guarantee if the due date for a respective Sellers' obligation has passed for more than thirty (30) Business Days and Purchaser's claim has not been settled within such period by Sellers, provided that the only remedy of Purchaser for a claim under the PLC Guarantee shall be damages.
PLC Guarantee. 11.1 PLC as primary obligor unconditionally and irrevocably:
(a) guarantees to the Purchaser and undertakes to procure the performance when due of all obligations of RML under this agreement; and
(b) agrees that if and each time RML fails to make any payment to the Purchaser when it is due under this agreement, PLC shall on demand (without requiring the Purchaser first to take steps against RML or any other person) pay that amount to the Purchaser.
11.2 PLC's obligations under sub-clause 11.1 shall not be affected by any matter or thing which, but for this provision, might operate to affect or prejudice those obligations, including without limitation:
(a) any time or indulgence granted to, or composition with, RML to any other person;
(b) the taking, variation, renewal or release of , or neglect to perfect or enforce this agreement or any right, guarantee, remedy or security form or against RML or any other person; or
(c) any enforceability or invalidity or any obligation of RML, so that this clause shall be construed as if there was no such unenforceability or invalidity.