SPG Clause Samples
The SPG (Special Purpose Guarantee) clause establishes a guarantee provided by a third party, often to secure the obligations of one party under a contract. In practice, this clause typically requires a guarantor to step in and fulfill contractual duties or cover losses if the primary party defaults, and it may specify the scope, duration, and conditions under which the guarantee applies. The core function of the SPG clause is to mitigate risk for the beneficiary by ensuring that there is a reliable source of compensation or performance if the original party fails to meet its obligations.
SPG. SPG hereby represents and warrants that (i) it has delivered complete and accurate copies of the Tax Opinion Documents to WPG and (ii) the facts presented and the representations made in the Tax Opinion Documents, to the extent descriptive of or in reference to the SPG Group or the SPG Business (including with respect to the business purposes for the Distribution described in the Tax Opinion Documents and the plans, proposals, intentions and policies of the SPG Group), are true, correct and complete in all respects.
SPG. XMG and XIIG shall make available, promptly as needed, the funds, facilities, services, equipment, land and other resources which are required, in addition to the proceeds of the Loan, for the carrying out of the Project.
(a) In the carrying out of the Project, XMG through XMURCC and XIIG shall employ competent and qualified consultants and contractors, acceptable to ADB, to an extent and upon terms and conditions satisfactory to ADB.
(b) Except as ADB may otherwise agree, all Goods, Works and Consulting Services to be financed out of the proceeds of the Loan shall be procured in accordance with the provisions of Schedule 4 to the Loan Agreement. ADB may refuse to finance a contract where Goods, Works or Consulting Services have not been procured under procedures substantially in accordance with those agreed between the Borrower and ADB or where the terms and conditions of the contract are not satisfactory to ADB.
SPG. The Employer’s Standard Practice Guide. Available online at ▇▇▇▇://▇▇▇.▇▇▇▇▇.▇▇▇/ As defined in Regents Bylaw 5.01, “University Year” contains any two