Common use of Absolute and Unconditional Guarantee Clause in Contracts

Absolute and Unconditional Guarantee. The obligations of the Guarantor, as established in Section 3.1 above, will be a guarantee of payment and of absolute and unconditional compliance with the obligations that should be performed strictly in accordance with the terms of the Contract and without respect to those defensive measures that may be available to the Contractor, including, among others, some of the following, with or without notice to or the consent of the Guarantor: (a) any modification, amendment, alteration, extension, tolerance, renunciation of the term or concession (material or otherwise) granted to the Contractor; (b) taking or not taking measures by the State against the Contractor; (c) any breach, omission, delay or failure by the State in enforcing, implementing or exercising any right, power or recourse that it may have against the Contractor; (d) the liquidation, dissolution, sale or other disposal, voluntary or involuntary, of all or almost all of the assets, administration of assets and liabilities, failure, insolvency, bankruptcy, transfer to the benefit of creditors, reorganisation, settlement, agreement with creditors or readjustment or other similar procedures that affect the Guarantor or Contractor or any of the respective assets of either of them, or any accusation or claim with regard to the validity of this Guarantee Agreement in any of these procedures; (e) any defence based on a legal incapacity of the Contractor.

Absolute and Unconditional Guarantee. The obligations of the Guarantor, as established in Section 3.1 above, will be a guarantee of payment and of an absolute and unconditional guarantee of compliance with and payment of the obligations that should must be performed strictly in accordance with the terms of the Contract and without respect to those defensive measures that may be available to the Contractor, including, among others, some of the following, with or without notice to or the consent of the Guarantor: (a) any modification, amendment, alteration, extension, tolerance, renunciation of the term or concession (material or otherwise) granted to the Contractor; (b) taking or not taking measures by the State against the Contractor; (c) any breach, omission, delay or failure by the State in enforcing, implementing or exercising any right, power or recourse that it may have against the Contractor; (d) the liquidation, dissolution, sale or other disposal, voluntary or involuntary, of all or almost all of the assets, administration of assets and liabilities, failure, insolvency, bankruptcy, transfer to the benefit of creditors, reorganisation, settlement, agreement with creditors or readjustment or other similar procedures that affect the Guarantor or Contractor or any of the respective assets of either of them, or any accusation or claim with regard to the validity of this Guarantee Agreement in any of these procedures; (e) any defence based on a legal incapacity of the Contractor.

Absolute and Unconditional Guarantee. The obligations of the Guarantor, as established in Section 3.1 above, will be a guarantee of payment and of an absolute and unconditional guarantee of compliance with and payment of the obligations that should must be performed strictly in accordance with the terms of the Contract and without respect to those defensive measures that may be available to the Contractor, including, among others, some of the following, with or without notice to or the consent of the Guarantor: (a) any modification, amendment, alteration, extension, tolerance, renunciation of the term or of concession (material or otherwise) granted to the Contractor; (b) taking or not taking measures by the State against the Contractor; (c) any breach, omission, delay or failure by the State in enforcing, implementing or exercising any right, power or recourse that it may have against the Contractor; (d) the liquidation, dissolution, sale or other disposal, voluntary or involuntary, of all or almost all of the assets, administration of assets and liabilities, failure, insolvency, bankruptcy, transfer to the benefit of creditors, reorganisation, settlement, agreement with creditors or readjustment or other similar procedures that affect the Guarantor or Contractor or any of the respective assets of either of them, or any accusation or claim with regard to the validity of this Guarantee Agreement in any of these procedures; (e) any defence based on a legal incapacity of the Contractor.

Absolute and Unconditional Guarantee. The obligations of the Guarantor, as established in Section 3.1 above, will be a guarantee of payment and of absolute and unconditional compliance with the obligations that should be performed strictly in accordance with the terms of the Contract and without respect to those defensive measures that may be available to the Contractor, including, among others, some of the following, with or without notice to or the consent of the Guarantor: (a) any modification, amendment, alteration, extension, tolerance, renunciation of the term or of concession (material or otherwise) granted to the Contractor; (b) taking or not taking measures by the State against the Contractor; (c) any breach, omission, delay or failure by the State in enforcing, implementing or exercising any right, power or recourse that it may have against the Contractor; (d) the liquidation, dissolution, sale or other disposal, voluntary or involuntary, of all or almost all of the assets, administration of assets and liabilities, failure, insolvency, bankruptcy, transfer to the benefit of creditors, reorganisation, settlement, agreement with creditors or readjustment or other similar procedures that affect the Guarantor or Contractor or any of the respective assets of either of them, or any accusation or claim with regard to the validity of this Guarantee Agreement in any of these procedures; (eprocedures;(e) any defence based on a legal incapacity of the Contractor.