Examples of Guarantee Payments in a sentence
Unless Manhattan Beach USD gives Chevron Energy Solutions prior written notice of its intent to terminate the M&V Services, any failure to timely pay the Annual M&V Fee in accordance with this Attachment H, Section (II)(H) will be a material default by Manhattan Beach USD under the Contract, and Chevron Energy Solutions, in addition to any other legal, contractual and equitable remedies available to it, will have no obligation thereafter to perform M&V Services or to make Guarantee Payments.
The Guarantor irrevocably and unconditionally agrees to pay in full to the Holders the Guarantee Payments (without duplication of amounts theretofore paid by the Trust or the Guarantor), as and when due, regardless of any defense, right of setoff or counterclaim that the Trust may have or assert.
For any Measurement Period in which there are Excess Savings, Manhattan Beach USD will repay to Chevron Energy Solutions, to the extent of such Excess Savings, any Guarantee Payments previously paid by Chevron Energy Solutions to Manhattan Beach USD and not previously repaid to Chevron Energy Solutions by Manhattan Beach USD, and the Excess Savings for such Measurement Period will be reduced by the amount of such repayment.
The Guarantor acknowledges that its obligations hereunder are independent of the obligations of the Trust with respect to the Securities, and that the Guarantor shall be liable as principal and as debtor hereunder to make Guarantee Payments pursuant to the terms of this Guarantee notwithstanding the occurrence of any event referred to in Section 2.3(a) through Section 2.3(g), inclusive, hereof.