Crown Guarantee definition
Examples of Crown Guarantee in a sentence
The Parties acknowledge that the offering or entering into of this Deed does not in any respect restrict any regulatory or supervisory action by the Reserve Bank of New Zealand or any action the Crown may take, including but not limited to extending the term of the Crown Guarantee or not extending the term of the Crown Guarantee and offering a guarantee to any person whether under the same terms or different.
On the day of (or, as the case may be, the date specified in) a notice given by the Crown under clause 9.3 or clause 9.4, the Crown Guarantee is withdrawn in respect of all obligations which arise under any Debt Security issued following the date of withdrawal and such obligations shall not be covered by the Crown Guarantee, and the provisions of clause 9.6 shall apply in respect of all such obligations.
If the Crown for any other reason considers it appropriate to do so, it may withdraw the Crown Guarantee by written notice to the Principal Debtor.
On the day of (or, as the case may be, the date specified in) that notice the Crown Guarantee is withdrawn in respect of all obligations which arise under any Debt Security issued following the date of withdrawal, and such obligations shall not be covered by the Crown Guarantee, and the provisions of clause 10.6 shall apply in respect of all such obligations.
To avoid doubt, the Crown shall have no liability at any point in time under the Crown Guarantee to a Person who is not, at that time, a Creditor (whether or not that Person was previously a Creditor).
On the day of (or, as the case may be, the date specified in) a notice given by the Crown under clause 10.3 or 10.4, the Crown Guarantee is withdrawn in respect of all obligations which arise under any Debt Security issued following the date of withdrawal and such obligations shall not be covered by the Crown Guarantee, and the provisions of clause 10.6 shall apply in respect of all such obligations.
The Partnership and the General Partner hereby expressly covenant and agree that any amount paid to the Collateral Agent for deposit or deposited directly, as the case may be, in the Partnership Project Funding Account, the DSRA or the Cost Overrun Escrow Account, as the case may be, by NL Crown pursuant to the NL Crown Guarantee shall be deemed to be an investment by Nalcor LP in the Partnership and the applicable Capital Account of Nalcor LP shall be credited accordingly by the GP.
Furthermore, all the parties hereto expressly acknowledge and agree that any amounts paid to the Collateral Agent for deposit or deposited directly, as the case may be, in the Partnership Project Funding Account, the DSRA or the Cost Overrun Escrow Account, as the case may be, by NL Crown pursuant to the provisions of the NL Crown Guarantee shall be deemed to be Base Equity Contributions, Contingency Equity Contributions or the DSRA Equity Contribution, as the case may be.