Guarantee Draw Amount definition
Guarantee Draw Amount means, as of the date of payment by the Guarantor, the Maximum Guarantee Amount on such date.
Examples of Guarantee Draw Amount in a sentence
The Guarantor shall pay the Guarantee Draw Amount to the Security Agent within five (5) Business Days of receipt of such Payment Demand.
Subject to the procedures set forth in Section 3 below, upon the occurrence of a Completion Guarantee Draw Event, Completion Guarantor shall make a payment to the Disbursement Agent in an amount equal to the Completion Guarantee Draw Amount.
At any time that Completion Guarantor fails to fund, on a timely basis, the Completion Guarantee Draw Amount after receipt of a proper demand hereunder, the Collateral Agent shall be entitled to seek remedies against Completion Guarantor to compel the funding of its obligations hereunder.