CGIF definition
Examples of CGIF in a sentence
If a payment under this Agreement is due on a day which is not a Business Day, the due date for that payment will instead be the next Business Day in the same calendar month (if there is one) or the preceding Business Day (if there is not) or whatever day CGIF reasonably determines is market practice.
The obligations of CGIF under this Agreement will not be affected by and shall remain in force notwithstanding any act, omission, event or thing of any kind which, but for this provision, would reduce, release or prejudice any of its obligations under this Agreement.
CGIF shall, as soon as reasonably practicable, notify the Guaranteed Party if it considers this to be the case, and advise the Guaranteed Party of its requirements, so that the Guaranteed Party is able to prepare and submit a revised Demand to CGIF within the Demand Period.
The Guaranteed Party acknowledges and accepts that it only has recourse to the CGIF Assets and it has no recourse to any assets of the Asian Development Bank or any other contributors to CGIF.
If any of the provisions of this Agreement are in conflict with the Conditions or the CGIF Guarantee, the Conditions and the CGIF Guarantee (as the case may be) shall prevail.
The Guaranteed Party agrees and acknowledges that CGIF, by making such payment in the Substitute Currency, shall have satisfied its payment obligations in respect of the subject payment.
The members of CGIF Board may seek instructions from their constituents and the Bond Documents, Guarantee Documents and other relevant information may be distributed to representatives of the contributors to CGIF.
Any obligation under this Agreement of CGIF shall not constitute an obligation of the Asian Development Bank or any other contributors to CGIF.
In this event, CGIF may make the subject payment with an equivalent amount in the Substitute Currency converted at the Spot Rate.
A Demand may be revoked by written notice by the Guaranteed Party to CGIF at any time prior to the date on which a Guaranteed Amount is due for payment to the extent that moneys are actually received in respect of a Guaranteed Amount prior to such date from a source other than CGIF.