Bank Guarantee/Parent Company Guarantee Sample Clauses

Bank Guarantee/Parent Company Guarantee. 3.1 The Customer shall submit to the SSO the original of an irrevocable and unconditional Bank Guarantee/Parent Company Guarantee issued by [MISSING DATA TO BE INSERTED] in the form stipulated in Annex No. 2 to the Purchase Agreement in favour of the SSO in an amount of [MISSING DATA TO BE INSERTED] EUR (to wit: [MISSING DATA TO BE INSERTED]euro) (hereinafter referred to as the (“Bank Guarantee/Parent Company Guarantee” or “Performance Assurance”) to secure all obligations of the Customer under this Purchase Agreement and Agreement.
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Bank Guarantee/Parent Company Guarantee. 3.1 The Customer shall submit to the SSO the original of an irrevocable and unconditional Bank Guarantee/Parent Company Guarantee issued by the bank with minimum credit rating A-/Parent Company, (hereinafter referred to as the “Bank Guarantee/Parent Company Guarantee” or “Performance Assurance”) in favour of the SSO to secure all obligations of the Customer under this Purchase Agreement and the Agreement. The amount of the Bank Guarantee/Parent Company Guarantee shall be calculated according to the formula: FWD * 6 * Working Volume stipulated in Article 1.2 of the Agreement, where FWD means average of bid and ask forward prices for Winter 2025 contract at the VTP Austria as published in ICIS Heren European Spot Gas Markets under the headings ”VTP Price Assessment” on 2 September 2024. The Parties shall confirm the amount via e-mail prior to the issuance of the Bank Guarantee/Parent Company Guarantee to secure all obligations of the Customer under this Purchase Agreement and the Agreement.
Sample 1

Related to Bank Guarantee/Parent Company Guarantee

  • Parent Company Guarantee Upon execution of this CONTRACT, the CONTRACTOR shall deliver to the COMPANY a PARENT COMPANY GUARANTEE from the company named in Appendix 1 to Section I – Form of Agreement for proper performance of its obligations under this Contract. The CONTRACTOR shall maintain in force the PARENT COMPANY GUARANTEE for the duration of its liability under this CONTRACT.

  • Subsidiary For purposes of this Agreement, the term “subsidiary” means any corporation or limited liability company of which more than 50% of the outstanding voting securities or equity interests are owned, directly or indirectly, by the Company and one or more of its subsidiaries, and any other corporation, limited liability company, partnership, joint venture, trust, employee benefit plan or other enterprise of which Indemnitee is or was serving at the request of the Company as a director, officer, employee, agent or fiduciary.

  • Money Back Guarantee If we provide a money back guarantee ("MBG") for your Service, it will begin on your Service Ready Date. During this MBG period you may cancel your Service and receive a full refund of all monthly, one-time and equipment charges paid to Verizon (provided you return all Equipment in good working condition). If you fail to return the Equipment, an unreturned Equipment fee will apply. ETFs will not apply to Service terminated within the MBG period. The MBG does not apply to customers who change between or renew bundle, monthly, term or other pricing plans. The MBG is limited to one per Subscriber per Service type per Service address.

  • Financial Guarantee 30.1 By derogation from article 30 of the General Conditions, no pre-financing guarantee is required.

  • Bank Guarantee In addition to the Common Articles, it is specified that: In order to guaranty the proper execution of its contractual obligations pursuant to the Contract and/or Order(s), the Supplier shall issue in favor of the Purchaser a first demand and irrevocable performance bond from a first class bank or other financial institutes agreed by the Purchaser, to guaranty good performance by the Supplier of its obligations under the Contract. The Supplier shall issue the bond within thirty (30) days after issuance of the SPC or of the Order. Each performance bond shall amountto fifteen per cent (15%) of the total value of the concerned SPC and / or Order. Each performance bond shall expire when the relevant services have been fully performed in compliance with the Contract.

  • Guarantees The Note will be entitled to the benefits of certain Guarantees made for the benefit of the Holders. Reference is hereby made to the Indenture for a statement of the respective rights, limitations of rights, duties and obligations thereunder of the Guarantors, the Trustee and the Holders.

  • Payment Guarantee 20.1 On Contracts where one hundred (100%) percent performance bonds and payment bonds are executed, this Article 20 does not apply.

  • Guarantor In the event that there is a guarantor of this Lease, said guarantor shall have the same obligations as Lessee under this Lease.

  • Financial Security Arrangements At least 20 Business Days prior to the commencement of the design, procurement, installation, or construction of a discrete portion of the Connecting Transmission Owner’s Interconnection Facilities and Upgrades, the Interconnection Customer shall provide the Connecting Transmission Owner, at the Interconnection Customer’s option, a guarantee, a surety bond, letter of credit or other form of security that is reasonably acceptable to the Connecting Transmission Owner and is consistent with the Uniform Commercial Code of the jurisdiction where the Point of Interconnection is located. Such security for payment shall be in an amount sufficient to cover the costs for constructing, designing, procuring, and installing the applicable portion of the Connecting Transmission Owner’s Interconnection Facilities and Upgrades and shall be reduced on a dollar-for-dollar basis for payments made to the Connecting Transmission Owner under this Agreement during its term. The Connecting Transmission Owner may draw on any such security to the extent that the Interconnection Customer fails to make any payments due under this Agreement. In addition:

  • Guarantee The Guarantor irrevocably and unconditionally agrees to pay in full to the Holders the Guarantee Payments (without duplication of amounts theretofore paid by the Issuer), as and when due, regardless of any defense, right of set-off or counterclaim that the Issuer may have or assert. The Guarantor's obligation to make a Guarantee Payment may be satisfied by direct payment of the required amounts by the Guarantor to the Holders or by causing the Issuer to pay such amounts to the Holders.

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