The Bank Guarantee Sample Clauses

The Bank Guarantee should conform strictly in conformity with the terms and Conditions of the order and in GRSE’s standard format prescribed against each of the above cases.
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The Bank Guarantee specified in clause 10.1 of the Contract shall provide for an unconditional and irrevocable obligation of the bank the full amount of the Bank Guarantee to the Puroricng Entity. The Contract Performance Bank Guarantee shall be used to compensate for any damage that may be caused t the Procuring Entity in connection with non-performance or improper performance of the terms of the Contract, or in the event of terminaiton of the Contract, or in connection with the failure to eliminate defects or deterioration in quality found after the completion of the work performed, as well as in case of application of a penalty by the Procuring Entity and in other cases providedr bfoy the Contract.
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The Bank Guarantee. (a) A cash drawing will be deemed to have been made under the Facility on the date when:
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The Bank Guarantee. [*] shall remain fully valid, effective and unchanged until the last day of [*]. Upon the end of the last day of [*], the amount of the Bank Guarantee shall be changed towards the end of each calendar year to an amount that shall be equal to the higher of [*] Without derogating from the foregoing, the actual term of each Bank Guarantee issued and/or extended (each extension being for an additional period of one (1) year, each time, in accordance with the provisions below) shall be 12 months commencing from the date of issuance and/or extension thereof, as the case -------------------------------------------------------------------------------- -CONFIDENTIAL- This document contains proprietary information of Partner Communications Company Ltd. and may not be reproduced, copied, disclosed or utilized in any way, in whole or in part, without prior written consent -------------------------------------------------------------------------------- -45- (ORANGE LOGO) (PARTNER COMMUNICATIONS COMPANY LTD. LOGO) may be (the - "Actual Bank Guarantee Period", and any extension period of any Actual Bank Guarantee Period - the "Extended Period"). At least 30 days before the due expiration date of the Actual Bank Guarantee Period and/or the Extended Period, as the case may be, the issuer bank of the Bank Guarantee shall serve Partner with a written notice, requiring Partner to inform the issuer bank which of the following courses of actions Partner wishes to take -
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The Bank Guarantee or Security Deposit shall be valid until the Expiry Date (unless the term of the lease is extended in accordance with Section 4.3) plus sixty (60) more days. If the Tenant fails to perform or delays performing, or fails to fully perform any of its payment obligations set out above and in this Lease, the Landlord is entitled to draw down the amount of the Bank Guarantee or satisfy its claim from the Security Deposit. If the Landlord is entitled to draw down the amount of the Bank Guarantee as provided for above, it may draw it down with 8 days’ prior written notice to the Tenant, directly contacting the issuing bank. The Tenant acknowledges that the issuing bank performs the Landlord's draw-down request without making any enquiry about the underlying legal relationship. The Landlord shall give back the Bank Guarantee or the actual balance of the Security Deposit within 30 days from the termination of this Lease, if the Tenant has fulfilled its obligations under this Lease. In case the Landlord has any outstanding undisputed receivable against the Tenant, the amount of the proved outstanding undisputed receivable can be deducted from the Bank Guarantee or the Security Deposit.
Sample 1
The Bank Guarantee. At the request of the Consultant, we , (name and address of the bank), (hereinafter referred to as the “Bank”), do hereby unconditionally and irrevocably affirm and undertake that we are the Guarantor and are responsible to the Client i.e. the beneficiary on behalf of the Consultant, upto a total sum of Rs. (Rupees only), such sum being payable by us to the Client immediately upon receipt of first written demand from the Client. We unconditionally and irrevocably undertake to pay to the Client on an immediate basis, upon receipt of first written demand from the Client and without any cavil or argument or delaying tactics or reference by us to Consultant and without any need for the Client to convey to us any reasons for invocation of the Guarantee or to prove the failure to perform the Services as per requirements on the part of the Consultant or to show grounds or reasons for the demand or the sum specified therein, the entire sum or sums within the limits of Rs. (Rupees only) We hereby waive the necessity of the Client demanding the said amount from Consultant prior to serving the Demand Notice upon us. We further agree and affirm that no change or addition to or other modification to the terms of the Agreement, shall in any way release us from any liability under this unconditional and irrevocable Guarantee and we hereby waive notice of any such change, addition or modification. We further agree with the Client that the Client shall be the sole and the exclusive judge to determine that whether or not any sum or sums are due and payable to him by Consultant, which are recoverable by the Client by invocation of this Guarantee. This Guarantee will not be discharged due to the change in constitution of the Bank or the Consultant. We undertake not to withdraw or revoke this Guarantee during its currency/ validity period, except with the previous written consent of the Client ( on behalf of Managing Director, Punjab Infrastructure Development Board, Chandigarh). We unconditionally and irrevocably undertake to pay to the Client ( on behalf of Managing Director, Punjab Infrastructure Development Board, Chandigarh) any amount so demanded not exceeding Rs. (Rupees only) notwithstanding any dispute or disputes raised by Consultant or anyone else in any suit or proceedings before any arbitrator, court, tribunal or other authority, our liability under this Guarantee being absolute, unconditional and unequivocal. The payment so made by us under this Guarantee to the ...
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Related to The Bank Guarantee

  • Bank Guarantee In addition to the Common Articles, it is specified that: In order to guaranty the proper execution of its contractual obligations pursuant to the Contract and/or Order(s), the Supplier shall issue in favor of the Purchaser a first demand and irrevocable performance bond from a first class bank or other financial institutes agreed by the Purchaser, to guaranty good performance by the Supplier of its obligations under the Contract. The Supplier shall issue the bond within thirty (30) days after issuance of the SPC or of the Order. Each performance bond shall amountto fifteen per cent (15%) of the total value of the concerned SPC and / or Order. Each performance bond shall expire when the relevant services have been fully performed in compliance with the Contract.

  • Letter of Credit Facility 4.1 L/C COMMITMENT. Subject to the terms and conditions hereof, the -------------- Issuing Lender, in reliance on the agreements of the other Lenders set forth in Section 4.4(a), agrees to issue letters of credit (the "Letters of Credit") for the account of the Company or the Company and one or more Subsidiaries on any Business Day from the date hereof to but excluding the Commitment Termination Date in such form as may be approved from time to time by the Issuing Lender; provided that the Issuing Lender shall have no obligation to issue any Letter of Credit if, after giving effect to such issuance, the L/C Obligations would exceed the lesser of (i) the Aggregate Commitment less the sum of all outstanding Revolving Credit Loans and all outstanding Swingline Loans and (ii) the L/C Commitment less the L/C Obligations attributable to the Existing NationsBank Letters of Credit. Each Letter of Credit shall (i) be denominated in United States Dollars in a minimum amount of $50,000, (ii) be a standby letter of credit issued to support the Contingency Amount or obligations of the Company or the Company and one or more of its Subsidiaries, contingent or otherwise, with respect to environmental and insurance matters and other corporate purposes incurred in the ordinary course of business, (iii) expire on a date satisfactory to the Issuing Lender, which date shall be no later than the Commitment Termination Date and (iv) be subject to the Uniform Customs and, to the extent not inconsistent therewith, the laws of the Commonwealth of Virginia. The Issuing Lender shall not at any time be obligated to issue any Letter of Credit hereunder if such issuance would conflict with, or cause the Issuing Lender or any L/C Participant to exceed any limits imposed by, any applicable law. References herein to "issue" and derivations thereof with respect to Letters of Credit shall also include extensions or modifications of any existing Letters of Credit, unless the context otherwise requires.

  • Issuing Bank Agreements Each Issuing Bank agrees that, unless otherwise requested by the Administrative Agent, such Issuing Bank shall report in writing to the Administrative Agent (i) on the first Business Day of each week, the daily activity (set forth by day) in respect of Letters of Credit during the immediately preceding week, including all issuances, extensions, amendments and renewals, all expirations and cancellations and all disbursements and reimbursements, (ii) on or prior to each Business Day on which such Issuing Bank expects to issue, amend, renew or extend any Letter of Credit, the date of such issuance, amendment, renewal or extension, and the aggregate face amount of the Letters of Credit to be issued, amended, renewed or extended by it and outstanding after giving effect to such issuance, amendment, renewal or extension occurred (and whether the amount thereof changed), it being understood that such Issuing Bank shall not permit any issuance, renewal, extension or amendment resulting in an increase in the amount of any Letter of Credit to occur without first obtaining written confirmation from the Administrative Agent that it is then permitted under this Agreement, (iii) on each Business Day on which such Issuing Bank makes any LC Disbursement, the date of such LC Disbursement and the amount of such LC Disbursement, (iv) on any Business Day on which any Borrower fails to reimburse an LC Disbursement required to be reimbursed to such Issuing Bank on such day, the date of such failure and the amount and currency of such LC Disbursement and (v) on any other Business Day, such other information as the Administrative Agent shall reasonably request.

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