Outstanding Guarantee Amount definition

Outstanding Guarantee Amount means, in relation to a Guarantee, the maximum amount for which the Guarantee was issued less the aggregate amount of all reductions to it which have been made in accordance with the provisions of Clause 3.1;
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Outstanding Guarantee Amount means, in relation to a Bank Guarantee at any relevant time, the maximum amount in Dollars for which such Bank Guarantee was issued or, if a Bank Guarantee does not contain an express provision limiting the total amount payable by the relevant Issuing Bank thereunder to a stated maximum amount, such amount as the relevant Issuing Bank shall from time to time certify to be the amount which it then reasonably considers to be the maximum aggregate amount (whether of principal, interest or otherwise) which, during the remaining duration of such Bank Guarantee, it may be required to pay to the relevant Beneficiary under such Bank Guarantee (and for such purpose the relevant Issuing Bank may make such estimate of its potential liability under such Bank Guarantee as it reasonably considers appropriate provided however that where the amount for which a Bank Guarantee was issued increases by reference to a rate of interest the relevant Issuing Bank may only, as at any relevant date upon which the Outstanding Guarantee Amount of a Bank Guarantee falls to be determined, include amounts so calculated by reference to a rate of interest to the extent that such amounts have accrued up to such date and in calculating the Outstanding Guarantee Amount for a Bank Guarantee in a currency other than Dollars the Agent shall calculate the Outstanding Guarantee Amount in such currency and then convert such amount into Dollars at the Agent's ordinary spot rate of exchange for the purchase of such currency with Dollars as at 11.00 a.m. the date such Outstanding Guarantee Amount falls to be determined or if such date is not a Banking Day 11.00 a.m. on the preceding Banking Day) less, in either case, the aggregate amount of all reductions thereof which have been made in accordance with the provisions of Clause 5.1;
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Outstanding Guarantee Amount means the amount of the Company's obligations which the Guarantor has guaranteed (regardless of the actual amount of the Company's obligations outstanding to the lender at any time during such period) together, without duplication, with the amount the Guarantor has paid pursuant to the Guarantees which has not been reimbursed by the Company pursuant to this Agreement.
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Examples of Outstanding Guarantee Amount in a sentence

  • For the purpose of calculating the daily aggregate Outstanding Guarantee Amount during each such three (3) month period of any Bank Guarantee denominated in a currency other than Dollars, the Agent shall convert the daily amounts of this other currency into Dollars using the Agent's ordinary spot rate of exchange for the purchase of such currency with Dollars as at 11.00 a.m. on the last Banking Day of that period.

  • For the purpose of calculating the daily aggregate Outstanding Guarantee Amount during each such half-year period of any Bank Guarantee denominated in a currency other than Dollars, the Agent shall convert the daily amounts of this other currency into Dollars using the Agent's ordinary spot rate of exchange for the purchase of such currency with Dollars as at 11.00 a.m. on the last Banking Day of that period.

  • In determining the Outstanding Guarantee Amount of a Bank Guarantee for the purposes of this Clause the New Guarantee Provider shall in relation to interest by reference to which its liability under the relevant Bank Guarantee may be calculated take into account only such amounts as have accrued to form part of its liability under that Bank Guarantee at the time its determination is made.

  • For the avoidance of doubt, references in this Clause 9.9 to the Advance(s) in respect of a Ship shall include (if relevant) the Outstanding Guarantee Amount of any Guarantee issued in relation to that Ship and references in this Clause 9.9 to prepaying the Advance(s) in respect of a Ship shall include (if relevant) procuring the cancellation of the Outstanding Guarantee Amount of any Guarantee issued in relation to that Ship.


More Definitions of Outstanding Guarantee Amount

Outstanding Guarantee Amount shall have the meaning set forth in Section 4.3.6(g).
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Related to Outstanding Guarantee Amount

  • Funding Guarantor as defined in Section 7.2.

  • Excess Funding Guarantor means, in respect of any Guaranteed Obligations, a Subsidiary Guarantor that has paid an amount in excess of its Pro Rata Share of such Guaranteed Obligations, (ii) “Excess Payment” means, in respect of any Guaranteed Obligations, the amount paid by an Excess Funding Guarantor in excess of its Pro Rata Share of such Guaranteed Obligations and (iii) “Pro Rata Share” means, for any Subsidiary Guarantor, the ratio (expressed as a percentage) of (x) the amount by which the aggregate fair saleable value of all properties of such Subsidiary Guarantor (excluding any shares of stock or other equity interest of any other Subsidiary Guarantor) exceeds the amount of all the debts and liabilities of such Subsidiary Guarantor (including contingent, subordinated, unmatured and unliquidated liabilities, but excluding the obligations of such Subsidiary Guarantor hereunder and any obligations of any other Subsidiary Guarantor that have been Guaranteed by such Subsidiary Guarantor) to (y) the amount by which the aggregate fair saleable value of all properties of the Borrower and all of the Subsidiary Guarantors exceeds the amount of all the debts and liabilities (including contingent, subordinated, unmatured and unliquidated liabilities, but excluding the obligations of the Obligors hereunder) of the Borrower and all of the Subsidiary Guarantors, determined (A) with respect to any Subsidiary Guarantor that is a party hereto on the date hereof, as of the date hereof, and (B) with respect to any other Subsidiary Guarantor, as of the date such Subsidiary Guarantor becomes a Subsidiary Guarantor hereunder.

  • Funding Guarantors as defined in Section 7.2.

  • Qualifying Guarantee means an arrangement evidenced by a written instrument pursuant to which a Reference Entity irrevocably agrees (by guarantee of payment or equivalent legal arrangement) to pay all amounts due under an obligation (the “Underlying Obligation”) for which another party is the obligor (the “Underlying Obligor”). Qualifying Guarantees shall exclude any arrangement (i) structured as a surety bond, financial guarantee insurance policy, letter of credit or equivalent legal arrangement or (ii) pursuant to the terms of which the payment obligations of the Reference Entity can be discharged, reduced or otherwise altered or assigned (other than by operation of law) as a result of the occurrence or non-occurrence of an event or circumstance (other than payment). The benefit of a Qualifying Guarantee must be capable of being delivered together with the delivery of the Underlying Obligation.

  • Guarantee Amount means the maximum amount payable under a guarantee which amount shall be specifically set forth in writing at the time the guarantee is entered into by the authority.