Request Notice. You do not have to use the facility. If you want to use the facility, you must give us a notice requesting us to issue a bank guarantee which complies with Part 2(c) at least three clear business days before you want us to issue the bank guarantee. You may only give us a request notice if the sum of: ● all bank guarantees previously issued by us; plus ● the amount of the bank guarantee referred to in the request notice; plus ● the money owing, does not exceed the facility limit. The expiry date of a bank guarantee specified in a request notice must not be a date later than the last day of the term.
Appears in 2 contracts
Sources: Guarantee Facility Agreement, Guarantee Facility Agreement