Offer Guarantee definition
Examples of Offer Guarantee in a sentence
With respect to employees to whom the provisions of former Article 24.17 (Job Offer Guarantee) have been applied up to and including the date of ratification by the parties, these provisions shall continue to apply until December 31, 1996 and, with respect to any employees to whom such provisions continue to apply as of that date, the following new provisions apply effective January 1, 1997.
With respect to em ployees to whom the provisions of form er Article 24.17 (Job Offer Guarantee) have been applied up to and including the date of ratification by the parties, these provisions shall continue to apply until December 31, 1996 and, with respect to any employees to whom such provisions continue to apply as of that date, the following new provisions apply effective January 1, 1997.
If a Lender makes a payment under Clause 9.3(b) (Counter-guarantee by Lenders) with respect to a payment made by the Offer Guarantor pursuant to an Offer Guarantee Claim, the Offer Guarantor will assign to that Lender the claim against the Borrower under the Instruction Letter Indemnity to which that payment is allocated and the Borrower shall be liable to that Lender in an amount equal to that payment.
The Borrower will not be entitled to request a Utilisation prior to the Offer Guarantee Discharge Date if, after the application of the proceeds of the Utilisation, the Available Facility would be less than the Offer Guarantee Liability.
With respect to employees to whom the provisions of former Article 24.17 (Job Offer Guarantee) have been applied up to and including the date of ratification by the parties, these provisions shall continue to apply until December 31, 1996 and, with respect to any employees to whom such provisions continue to apply as of that date, the following new provisions apply effective January 1, 1997.
The Offer Guarantee may be delivered by any means as per the OPA Regulations and shall remain in force until the Settlement Date.
Each of the Lenders and the Offer Guarantee Banks appoints the Agent to act as its agent under and in connection with the Finance Documents.
The Borrower shall immediately on demand indemnify each Offer Guarantee Bank against any cost, loss or liability (excluding loss of profit and any other indirect or consequential damage) incurred by each Offer Guarantee Bank (otherwise than by reason of such Offer Guarantee Bank’s gross negligence or wilful misconduct) in acting as the Offer Guarantee Bank under an Offer Guarantee.
A copy of the form of Offer Guarantee which has been deposited with the CNMV is set out in Schedule 1 (Form of Offer Guarantee) of the Counter Guarantee Agreement.
The liability of each Offer Guarantee Bank to make payments under an Offer Guarantee will be counter-indemnified by (i) the Borrower and (ii) the Lenders in respect of Facility A, in the case of the Lenders up to a maximum amount equal to its Guarantee Proportion in accordance with the provisions of Clause 15.4 (Offer Guarantee Banks Counter-Indemnity).