Common use of Airspan Security Instrument Clause in Contracts

Airspan Security Instrument. 21.1 The Parties hereby acknowledge that the current Bank Guarantee granted by Airspan to Axtel pursuant the Second Amendment No. 2 shall continue to remain open until Airspan delivers to Axtel all the Products covered currently by such Bank Guarantee (the Orders Guaranteed by Airspan). Thereafter, Axtel shall agree to the release and termination of the Bank Guarantee. In addition to the foregoing, the Parties hereby agree that, if after the Effective Date of this Agreement, Axtel makes new payments in the circumstances described in Section 21.2 below, Airspan shall obtain and maintain a new Bank Guarantee to cover the respective Excess Exposure Amount until such time as aggregate amounts paid fall below the Excess Exposure Amount.