Examples of EDC Guarantee in a sentence
The EDC Guarantee fee, calculated at 3.15% on the guaranteed balance outstanding, is payable quarterly in advance commencing on the May 22, 2020 acceptance date.
The Parties will use reasonable commercial efforts to negotiate, finalize and cause the Covered Credit Agreement, and the related EDC Guarantee and Limited Vendor Indemnity (Covered Credit Agreement) (each in form and substance satisfactory to each of the Parties in its sole discretion and which contains the principles set out in the Data Room) to be executed and made effective as promptly as practical following the date hereof.
The Covered Credit Facilities are non-recourse to TM Pipeline LP, its subsidiaries or affiliates, or any of their respective property, assets and undertakings, and the lenders’ sole recourse is to the Purchaser under the EDC Guarantee.
The Purchaser shall renew and/or extend each EDC Guarantee not less than 15 days prior to the termination date thereof and shall provide the Lender with written notice upon each such renewal and/or extension confirming the same.
The obligations of Burcon and the EDC Guarantors shall terminate upon the termination or release by EDC of the EDC Guarantors' obligations under the EDC Guarantee.