Common use of Decrease in Bank Guarantee Amount Clause in Contracts

Decrease in Bank Guarantee Amount. (a) Within ten Business Days after the end of each Quarter, Aurizon Network must: (i) determine if the then current Bank Guarantee Amount exceeds the amount which is: (A) the Study Funder’s Study Commitment as at the end of that Quarter; less (B) the Loaned Amount as at the end of that Quarter, (Reviewed Amount); and (ii) if the then current Bank Guarantee Amount exceeds the Reviewed Amount, by notice to the Study Funder, decrease the amount of the Bank Guarantee required to be given by the Study Funder to the Reviewed Amount. (b) If Aurizon Network gives a notice decreasing the amount of the Bank Guarantee required to be given by the Study Funder under

Decrease in Bank Guarantee Amount. (a) Within ten Business Days after the end of each Quarter, Aurizon Network must: (i) determine if the then current Bank Guarantee Amount exceeds the amount which is: (A) the Study Funder’s Study Commitment as at the end of that Quarter; less (B) the Loaned Amount as at the end of that Quarter, (Reviewed Amount); and (ii) if the then current Bank Guarantee Amount exceeds the Reviewed Amount, by notice to the Study Funder, decrease the amount of the Bank Guarantee required to be given by the Study Funder to the Reviewed Amount. (b) If Aurizon Network gives a notice decreasing the amount of the Bank Guarantee required to be given by the Study Funder underunder clause 11.3(a)(ii), then the Study Funder may deliver to Aurizon Network a replacement Bank Guarantee for the Reviewed Amount in exchange for the existing Bank Guarantee.

Decrease in Bank Guarantee Amount. (a) Within ten Business Days after the end of each Quarter, Aurizon Network must: (i) determine if the then current Bank Guarantee Amount exceeds the amount which is: (A) the Study Funder’s Study Commitment as at the end of that Quarter; less (B) the Loaned Amount as at the end of that Quarter, (Reviewed Amount); and (ii) if the then current Bank Guarantee Amount exceeds the Reviewed Amount, by notice to the Study Funder, decrease the amount of the Bank Guarantee required to be given by the Study Funder to the Reviewed Amount. (b) If Aurizon Network gives a notice decreasing the amount of the Bank Guarantee required to be given by the Study Funder underunder clause 12.3(a)(ii), then the Study Funder may deliver to Aurizon Network a replacement Bank Guarantee for the Reviewed Amount in exchange for the existing Bank Guarantee.