Definición de Obligor
Examples of Obligor in a sentence
In the event of any claim by the Beneficiary of any of the Bonds issued by the “Bonding Company” at the request of the Obligor, the Co-obligor is hereby obligated to provide to the “Bonding Company” immediatly upon request with enough funds to satisfy said claim by the Beneficiary, without setoff, deduction or counterclaim, in immediatly available funds in certified or cashier’s check or by deposit to the designated account of the “Bonding Company”.
The Co-obligor, hereby unconditionally and irrevocably guarantees under a joint and several basis with the Obligor, the full and punctual payment, when due, of all pending amounts payable to the “Bonding Company” by the Obligor, whether for prime rates, interests, fees or expenses generated on behalf of the bond issuing under the Agreement, or for payments made by the “Bonding Company” under any Bonds issued under the Agreement (the “Obligations”).
The Euro equivalent of any Obligor Limit or of the Purchaser’s Investment Limits shall be determined on any date of determination by the Administrative Agent at the spot rate of exchange of Deutsche Bank AG at 11: 00 a.m. (New York time) on such date of determination.
This lndemnity Agreement will enter into force upon the execution date by the Co-obligor and the Obligor and will only terminate whenever all Surety Bonds (detailed herein in Exhibit ) and any of its amendments, endorsements or extensions have been totally and expressly canceled or terminated by any legal reason regulated under the terms of this agreement or by mutual consent among the parties.
Under the terms of the Sanmina Facility, Sanmina-SCI will be entitled to reduce the available commitment thereunder and make the corresponding increase of the Purchaser’s Investment Limit hereunder, subject in all events to the Obligor Limits and other terms and conditions of the respective facility.