Reliance Guarantee definition

Reliance Guarantee means that certain Guarantee of Payment dated as of the Effective Date made by Reliance Parent on behalf of Reliance in favor of Atlas.
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Examples of Reliance Guarantee in a sentence

  • Notwithstanding any provision of this Agreement, if upon the occurrence of the Drilling Carry Termination Date, the amount of the Drilling Carry Obligation paid by (or, if funded pursuant to the Letter of Credit or the Reliance Guarantee, on behalf of) Reliance for any reason is less than the Drilling Carry Cap, the Drilling Carry Obligation shall terminate and Reliance shall have no further obligation with respect thereto.

  • Atlas will maintain an accurate record of the Qualified Costs paid by (or, if funded pursuant to the Letter of Credit or the Reliance Guarantee, on behalf of) Reliance and applied toward the Drilling Carry Obligation and will provide Reliance with a monthly statement reflecting (i) all such Qualified Costs paid for such month, (ii) all Qualified Costs paid since the Effective Date and (iii) the Drilling Carry Balance.

  • Any amounts paid to Atlas pursuant to the Letter of Credit or the Reliance Guarantee shall be deemed to have been paid in respect of the Drilling Carry Obligation.

Related to Reliance Guarantee

  • Performance Guarantee means the security to be provided by the Contractor in accordance with Sub Clause 10.1 for the due performance of the Contract.

  • Parent Guarantee means the guarantee by the Parent of the Company’s obligations with respect to the Notes.

  • Subsidiary Guaranty Agreement means each unconditional guaranty agreement executed by the Subsidiary Guarantors in favor of the Administrative Agent for the ratable benefit of the Secured Parties, substantially in the form of Exhibit H, as amended, restated, supplemented or otherwise modified from time to time.

  • Consumer Guarantee has the meaning given in Division 1 of Part 3-2 of the Australian Consumer Law.

  • Performance Guaranty means the Performance Guaranty, dated as of the Closing Date, by the Performance Guarantor in favor of the Administrative Agent for the benefit of the Secured Parties, as such agreement may be amended, restated, supplemented or otherwise modified from time to time.