Counter-guarantee definition

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 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 another38

Examples of Counter-guarantee in a sentence

The Board, having duly considered the request by Chinalco for the provision of the Counter Guarantee, believes that as the Simandou Project is beneficial to the strategic growth of the Company, it is in the interest of the Company and its shareholders as a whole to grant the Counter Guarantee in favor of Chinalco.

The Board has also approved the formation of the Independent Board Committee to advise the Independent Shareholders in respect of the granting of the Counter Guarantee and the appointment of an independent financial adviser to provide independent financial advice to the Independent Board Committee and the Independent Shareholders in respect of the granting of the Counter Guarantee.

The proposed principal terms of the Counter Guarantee are set out as follows: Grantor: The CompanyGrantee: Chinalco Nature of the Counter Guarantee: Unconditional and irrevocable Counter Guaranteed Obligations: The Company guarantees that it shall dulyperform its obligations under the Simandou Joint Development Agreement.

The Counter Guarantee is subject to approval by the Independent Shareholders at the AGM.

On 25 October 2010, at the Fifth Meeting of the Fourth Session of the Board, all Directors including the independent non-executive Directors (other than Mr. Xiong Weiping and Mr. Lv Youqing, who had abstained from voting by reason of their holding management positions in Chinalco), having considered Chinalco’s request, approved the provision of the Counter Guarantee by the Company to Chinalco.


More Definitions of Counter-guarantee

Counter-guarantee means the counter guarantee of the Counter Guarantor in the Agreed Form;
Counter-guarantee means, as the context may require, any or all of (i) the Amended and Restated Counter-Guarantee Agreement dated as of the date hereof among the Airbus Counter-Guarantor, the Initial Lender and the Agent; (ii) the Amended and Restated Counter-Guarantee Agreement dated as of the date hereof among the GECC Counter-Guarantor, the Initial Lender and the Agent; and (iii) any counter-guarantee entered into after the date hereof for purposes of guaranteeing Tranche B-2.
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 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 a counter-guarantee in respect of each of the guarantees and other documents listed in Part 2 of Schedule 15;
Counter-guarantee means an undertaking given to the 38
Counter-guarantee means the [***] Guarantee dated as of the date hereof among the [***] Counter Guarantor, the Tranche B-1 Lender and the Agent, in substantially the form of Exhibit E1-2.