SACE Guarantee definition

SACE Guarantee means the first-demand guarantee issued, for the benefit of Banca del Fucino, by SACE S.p.A. (in its own name and also on behalf of the Republic of Italy) pursuant to Decree Law No. 23 of April 8, 2020 (converted by Law No. 40 of June 5, 2020 and amended by Law No. 178 of December 30, 2020) and amended by Decree Law No. 72 of May 25, 2021 and most recently by Law No. 234 of December 30, 2021.
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SACE Guarantee means the guarantee between SACE, the Agent and the Original Lender, in form and substance satisfactory to the Agent, whereby SACE guarantees, on the terms and conditions thereof, the Borrower' obligations under this Agreement in respect of, subject to its terms and conditions, eighty per cent (80%) of the principal and interest repayable or payable under this Agreement in accordance with the terms of the SACE Guarantee.
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SACE Guarantee means (i) the first-demand guarantee issued, for the benefit of Banca del Fucino, by SACE
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Examples of SACE Guarantee in a sentence

  • With the implementation (Inanspruchnahme) of the SACE Guarantee, the rights to payment hereunder shall be directly and/or indirectly assigned to SACE either by operation of law or by will of the Lenders to the extent of any payments made by SACE under the SACE Guarantee as more closely described in the SACE Guarantee.

  • P.A., an organization organized and existing under the Paws of Italy, having its registered office at ▇▇▇▇▇▇ ▇▇▇▇ ▇▇/▇▇, ▇▇▇▇▇ ▇▇▇▇, ▇▇▇▇▇, (“SACE”), have agreed that after a demand under the SACE Guarantee has been made by the Assignee for and on behalf of the Lenders, the rights to payment under the Loan Agreement shall be automatically assigned to SACE to the extent of any payments made by SACE under the SACE Guarantee according to clause 23.5 of the Loan Agreement.

  • Without prejudice to clause 2.2 (Reimbursement), each of the other parties hereto agrees that SACE will be subrogated to the rights of the Lenders to the extent of any payment made by or on behalf of SACE under the SACE Guarantee.

  • Each of the Obligors jointly and severally shall within five (5) Business Days of demand by such Finance Party pay such Finance Party the amount of any costs, expenses or liabilities incurred by such Finance Party relating to any investigation or the obtaining of additional information which is required under the terms and conditions of the SACE Guarantee or which is requested by the SACE.

  • For the purposes of SACE seeking a reimbursement or any other claim against the Borrowers under this Agreement, the Borrowers will be deemed to be liable under this Agreement for the payment default set out in any payment demand under the SACE Guarantee to the extent paid by SACE.

  • The Borrowers, jointly and severally, agree that they will promptly pay to SACE any amount due as Guarantee Fee Down Payment and/or the Ongoing Guarantee Fee when they are due in accordance with the SACE Guarantee and the Facility Agreement.

  • On the date of payment of the amounts due by SACE under the SACE Guarantee, SACE shall automatically be subrogated in all the Bank’s rights deriving from the Loan Agreement, any collateral and personal guarantees, against the Beneficiary and/or third parties, to the extent of the payment made and without prejudice to SACE’s independent right of recourse against the Beneficiary.

  • In addition, SACE may at any time and without the prior written consent of the Borrowers give participations in or obtain credit enhancement in respect of the SACE Guarantee on such terms as SACE in its sole discretion determines, provided that no such participation or credit enhancement, will relieve SACE of any of its obligations under that SACE Guarantee or give such participants direct rights against the Borrowers.


More Definitions of SACE Guarantee

SACE Guarantee means the SACE Guarantee n. 2008/500/00 dated 19 December 2008.
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Related to SACE 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.

  • Corporate Guarantee means a guarantee of the obligations of the Borrowers under this Agreement and the other Finance Documents to which each Borrower is a party, in the Agreed Form;

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

  • Guaranty means, with respect to any Person, any obligation (except the endorsement in the ordinary course of business of negotiable instruments for deposit or collection) of such Person guaranteeing or in effect guaranteeing any indebtedness, dividend or other obligation of any other Person in any manner, whether directly or indirectly, including (without limitation) obligations incurred through an agreement, contingent or otherwise, by such Person:

  • 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.