Payment Guarantee Letter definition
Examples of Payment Guarantee Letter in a sentence
On the Closing Date, the Owner Trust shall have received ----- whatever interest in and to the Construction Contract and the Payment Guarantee Letter as was conveyed to it by the Owner Participant.
After receipt of the first tranche, the EUR- amount should be transferred within Twelve (12) Bank hours as described in the Payment Guarantee Letter.
This AGREEMENT is made solely and specifically between and for the benefit of the PARTIES hereto and their respective members, successors and assigns subject to the express provisions hereof relating to successors and assigns, and no other Person whatsoever shall have any rights, interest, or claims hereunder or benefited to any benefits under or on account of this AGREEMENT as a third-party beneficiary with the exception of the Beneficiaries/Consultants indicated in the Payment Guarantee Letter.
The Partner must provide to the Investor a Payment Guarantee Letter duly endorsed by its bank, stating and confirming of release of payments within five (5) banking days the swift into the receiving party’ s bank account.
The INVESTOR hereby agrees that the first tranche shall be for an amount of EURO FORTY NINE MILLION NINE HUNDRED THOUSAND (EUR€49,900,000,000.00) upon receipt of acceptable Bank Endorsed Payment Guarantee Letter and during scheduled Window Time.
The receiver confirms with Sender that they are ready to download cash fund file with fine code for which the receiver issue Payment Guarantee Letter to sender.
Said Payment Guarantee Letter must be in-force for the First (1st) Tranche and all subsequent Tranches.