Guarantee Fund. 1. The financial responsibility of each beneficiary shall be limited to its own debt, subject to the following paragraphs.
Guarantee Fund. 3.6.1 A fund of INR 100,00,00,000 (Indian Rupees One Hundred Crores only) for every 1 (one) Giga Watt or part thereof of commissioned projects under the MSKVY 2.0 shall be earmarked and a revolving credit guarantee for enhancing payment security for the solar power developers under MSKVY 2.0 has been established (“Guarantee Fund”).
Guarantee Fund. 3.1 Fund deposits with the Company are available in different payment methods and in different currencies agreed by the Company. from time to time, and the Trading Account will be converted and managed on the applicable US Dollar, Great British Pound or Euro Trading Platform, based on the exchange rate determined by the Company based on rates as published on the same day. The Company uses clearing and money transfer solutions from different vendors and may receive or transfer funds through a third party, subject to applicable law.
Guarantee Fund. The [Commission][Agency] or the Commission will formally notify the beneficiary concernedcoordinator the debit note on behalf of the Guarantee Fund and recover the amount: [OPTION if Article 14 applies and joint and several liability has been requested by the [Commission][Agency]: if a linked third party has accepted joint and several liability (see Article 14), by holding the third party liable up to the maximum EU contribution indicated, for the linked third party, in the estimated budget (see Annex 2) and/or] [OPTION: not applicable;] by taking legal action (see Article 57) or by adopting an enforceable decision under Article 299 of the Treaty on the Functioning of the EU (TFEU) [, Article 106a of the Euratom Treaty] and Article 79(2) of the Financial Regulation No 966/2012(see Article 57). If payment is not made by the date in the debit note, the amount to be recovered (see above) will be increased by late-payment interest at the rate set out in Article 21.11, from the day following the date for payment in the debit note, up to and including the date the Agency or the Commission receives full payment of the amount. Partial payments will be first credited against expenses, charges and late-payment interest and then against the principal. Bank charges incurred in the recovery process will be borne by the beneficiarycoordinator, unless Directive 2007/64/EC applies.
Guarantee Fund. 1) The Member must participate in the guarantee fund being represented and managed by Takasbank, which has been established to cover any loss exceeding the collateral due to the default of the Member or other institutions trading in Borsa Istanbul Money Market.
Guarantee Fund. 1. Beneficiaries shall contribute to the Guarantee Fund (hereinafter the Fund) established in order to manage the risk associated with non-recovery of sums due to the Community by beneficiaries of grant agreements under the 7th Framework Programme. The contribution of beneficiaries of this grant agreement shall be offset from the initial pre-financing, under the terms and conditions established in Article 6.
Guarantee Fund. The Member is obliged to participate in the guarantee fund, which is managed and represented by Takasbank, and established to meet the Member’s and other SLM trader’s losses beyond the collateral in the event of default. The Member is obliged to entrust assets in quantity and type as demanded by Takasbank, as guarantee fund contribution, to Takasbank in accordance with the procedure and principles in the relevant legislation. Whenever the SLM guarantee fund falls below the level predetermined in the relevant legislation due to losses caused by market price changes, use of the fund, increase in the Member’s guarantee fund contribution liabilities and other reasons, margin call is made by Takasbank to the Members to top up the guarantee fund. The margin call is made via Member screen-provided by Takasbank- messages and reports. The Member accepts that the call reaches it, the instant it was generated on the system, without the need for further warning or notification. The Member’s obligation starts the instant the call reaches it. The Member is obliged to meet the margin call, in the period defined in the Procedure. In the event of failing to perform the obligation, the default interest rate in the relevant legislation is charged to the Member. The Member warranties to deposit the additional guarantee fund contribution, which may be demanded in accordance with the relevant legislative provisions, within the period, set by Takasbank. The Member accepts that it has no right of appeal, in the event that the deposited guarantee fund contributions and the additional fund contributions are used to pay off the other organizations trading in theSLM, in accordance with the relevant legislation. The Member, accepts, declares and warrants that, in the event of Takasbank’s use of guarantee fund contribution to settle other SLM trader’s debt, and the legal pursuit onsuch debtor bears no or partial result resulting in the failure to meet the loss partially or fully, it shall not make any claims against Takasbank.
Guarantee Fund. .1 To ensure the correction of all deficiencies or defects occurring during the Guarantee Period, the Owner shall be entitled to retain from the 10% Holdback Payment an amount double to that of the contract price for any outstanding deficiencies or defects as noted by the engineer unless otherwise specified in the Special Provisions hereinafter referred to as the "Guarantee Fund".
Guarantee Fund. The Board of Directors shall establish or operate a guarantee fund to satisfy a loss sustained by CDS caused by Participant’s failure to satisfy its obligations. The Board of Directors determines the calculation formula for and the acceptable forms of contributions to the fund, the circumstances under which contributions made in the form of Eligible Securities are devalued, their refund, their custody and their utilization by CDS as set forth in the Procedures.
