Counter-guarantee definition
Counter-guarantee means a guarantee (or similar instrument acceptable to the relevant Issuing Bank) issued by an Acceptable Bank for the benefit of the Issuing Bank and being either substantially in the form agreed between the Company and each of the Issuing Banks prior to the date of this Agreement as attached in Schedule 15 (Form of Bank Guarantee) or otherwise in a form and substance reasonably satisfactory to that Issuing Bank and the Company.
Counter-guarantee means an undertaking given to the guarantor/issuer of another undertaking by its instructing party and providing for payment upon simple demand or upon demand accompanied by other documents, in conformity with the terms and any documentary conditions of the undertaking, indicating, or from which it is to be inferred, that payment under that other undertaking has been demanded from, or made by, the person issuing that other undertaking;
Counter-guarantee means the counter-guarantee, counter-indemnity, indemnity or undertaking, however named or described and in such form and contents as determined by the Bank in its sole discretion, which is at any time issued by the Bank to a Correspondent in order to procure, arrange or facilitate the issuance of the Undertaking by the relevant Correspondent and includes any amendment, extension or renewal of the Counter-guarantee; and
Examples of Counter-guarantee in a sentence
In line with international practices, the tenor of a Counter-Guarantee in favor of the Indirect FCI Issuing Lender may exceed the tenor of the Indirect FCI by at least ten calendar days so long as such tenor is permitted under this Agreement.
The FCIs and Non-Financial Letters of Credit will be used only for the operational business of the U.S. Borrower, any Subsidiary of the U.S. Borrower that is a Restricted Subsidiary, and any Joint Venture; provided that no FCI or Non-Financial Letter of Credit may be issued for the benefit of financial creditors, except for a Counter-Guarantee supporting another FCI.
Each FCI Issuing Lender will notify the Foreign Trade Facility Agent on each Business Day about any expiration or reduction of the Face Amount of any FCI or Counter-Guarantee issued by it which became effective the preceding Business Day (a “Utilization Reduction Notice”).
More Definitions of Counter-guarantee
Counter-guarantee. (a) a customary standby letter of credit, bank guarantee or surety (each in compliance with the Mandatory Requirements) issued by an FCI Issuing Lender as credit support for an Indirect FCI issued by an Indirect FCI Issuing Lender or (b) a customary standby letter of credit, bank guarantee or surety (each in compliance with the Mandatory Requirements) issued by an FCI Issuing Lender as credit support for a standby letter of credit, bank guarantee or surety issued by itself or another financial institution (including one of such FCI Issuing Lender’s domestic or foreign branches or affiliates).
Counter-guarantee means each counter-guarantee, counter-indemnity, indemnity, standby letter of credit or undertaking, however named or described and in such form and content as determined by you at your sole discretion, which is at any time issued by you to a Correspondent in order to procure, arrange or facilitate the issuance of the Guarantee by the relevant Correspondent, and includes any amendment, extension or renewal of a Counter-guarantee; and
Counter-guarantee means the counter guarantee of the Counter Guarantor in the Agreed Form;
Counter-guarantee has the meaning assigned thereto under the URDG.
Counter-guarantee. (a) a customary standby letter of credit, bank guarantee or surety (each in compliance with the Mandatory Requirements) issued by a Foreign Issuing Lender as credit support for an Indirect Foreign Credit Instrument issued by an Indirect Foreign Issuing Lender or (b) a customary standby letter of credit, bank guarantee or surety (each in compliance with the Mandatory Requirements) issued by a Foreign Issuing Lender as credit support for a standby letter of credit, bank guarantee or surety issued by itself or another financial institution (including one of such Foreign Issuing Lender’s domestic or foreign branches or affiliates).
Counter-guarantee means, in relation to a Counter-Guarantor, the counter-guarantee in the Agreed Form executed or to be executed by that Counter-Guarantor in favour of the Security Trustee in respect of the obligations and liabilities of GasLog and GasLog Carriers under the Guarantees to which they are party and, in the plural, means both such Counter-Guarantees;
Counter-guarantee means the counter-guarantee, counter-indemnity, indemnity or undertaking, however named or described and in such form and content as determined by the Bank in its sole discretion, which is at any time issued by the Bank to a Correspondent in order to procure, arrange or facilitate the issuance of the Undertaking by the relevant Correspondent and includes any amendment, extension or renewal of the Counter-guarantee. "Bảo Lãnh Đối Ứng" có nghĩa là có nghĩa là bảo lãnh đối ứng, bồi hoàn đối ứng, bồi hoàn hoặc cam kết, cho dù được gọi hoặc miêu tả thế nào và theo mẫu và nội dung như được Ngân Hàng quyết định theo toàn quyền tùy nghi quyết định của mình, mà có thể được Ngân Hàng phát hành cho Ngân Hàng Đại Lý tại bất kỳ thời điểm nào để đảm bảo, sắp xếp hoặc hỗ trợ cho việc Ngân Hàng Đại Lý liên quan phát hành Cam Kết và bao gồm bất kỳ sửa đổi, kéo dài hoặc gia hạn nào của Bảo Lãnh Đối Ứng.