Examples of Letter of Comfort in a sentence
In case, SBI is the sole Banker for the Bidder, a Letter of Comfort from SBI may be accepted.
The Applicant(s) hereby jointly and severally undertake to provide sufficient funds in the account of Applicant(s) as to enable the Bank to make the payment to the beneficiary when Letter of Comfort/ Letter of Undertaking is invoked by the beneficiary and the Applicant(s) hereby jointly and severally undertake to credit to the account of Applicant(s) such sum as may be required by the Bank.
On demand, the Applicant(s) agree jointly and severally to indemnify the Bank and keep the Bank indemnified from and against all actions, proceedings, claims, demands, losses, damages, costs (including between attorney and clients) charges and expenses whatsoever that may be brought or made against or sustained or incurred by the Bank in consequence of Bank executing the Letter of Comfort/ Letter of Undertaking as aforesaid or otherwise howsoever in relation thereto.
The Applicant(s) confirm and covenant that this agreement to indemnify and counter guarantee shall continue to be in force and shall be available for the period of Letter of Comfort/ Letter of Undertaking and shall not be effected by any change in Applicant’s constitution or of the bank.
First party First Legal Assignment by way of a Deed of Assignment of the Land Agreement in respect of an area measuring approximately 1,250.00 Hectares only, being the Project Land and the Letter of Comfort duly issued or to be issued by the State Authority of Sabah in favour of FPD, copy of which is attached in the Deed of Assignment, in favour of FPD; and 3.