DEMANDS AND PAYMENT. (a) If Obligor fails to pay any Obligation to Counterparty when such Obligation is due and owing under the Agreement (an “Overdue Obligation”), Counterparty may present a written demand to Guarantor calling for Guarantor’s payment of such Overdue Obligation pursuant to this Guaranty (a “Payment Demand”).
(b) Guarantor’s obligation hereunder to pay any particular Overdue Obligation(s) to Counterparty is conditioned upon Guarantor’s receipt of a Payment Demand from Counterparty satisfying the following requirements: (i) such Payment Demand must identify the specific Overdue Obligation(s) covered by such demand, the specific date(s) upon which such Overdue Obligation(s) became due and owing under the Agreement, and the specific provision(s) of the Agreement pursuant to which such Overdue Obligation(s) became due and owing; (ii) such Payment Demand must be delivered to Guarantor in accordance with Section 9 below; and (iii) the specific Overdue Obligation(s) addressed by such Payment Demand must remain due and unpaid at the time of such delivery to Guarantor.
(c) After issuing a Payment Demand in accordance with the requirements specified in Section 2(b) above, Counterparty shall not be required to issue any further notices or make any further demands with respect to the Overdue Obligation(s) specified in that Payment Demand, and Guarantor shall be required to make payment with respect to the Overdue Obligation(s) specified in that Payment Demand within five (5) Business Days after Guarantor receives such demand. As used herein, the term “Business Day” shall mean all weekdays (i.e., Monday through Friday) other than any weekdays during which commercial banks or financial institutions are authorized to be closed to the public in the State of Florida or the State of New York.
DEMANDS AND PAYMENT. All demands on Guarantor by Beneficiary for payment under this Guaranty shall be in writing, signed by a duly authorized representative of Beneficiary and delivered to the Guarantor by mail or facsimile to: [Guarantor’s address and fax #] All such demands shall reference this Guaranty, the guaranteed obligations to be paid and payment instructions. There are no other requirements of notice, presentment or demand. Guarantor shall pay, or cause to be paid, such guaranteed obligations within ten (10) business days of receipt of such demand.
DEMANDS AND PAYMENT. (a) If Obligor fails to pay any Obligation to Counterparty when such Obligation is due and owing under the Agreement, Counterparty may present a written demand to Guarantor calling for Guarantor’s payment Obligation pursuant to this Guaranty (a “Payment Demand”)
(b) After issuing a Payment Demand in accordance with the requirements specified in Section 2(a) above, Counterparty shall not be required to issue any further notices or make any further demands with respect to the Obligation(s) specified in that Payment Demand, and Guarantor shall be required to make payment with respect to the Obligation(s) specified in that Payment Demand within three (3) Business Days after Guarantor receives such demand. As used herein, the term “Business Day” shall mean all weekdays (i.e., Monday through Friday) other than any weekdays during which commercial banks or financial institutions are authorized to be closed to the public in the State of Florida or the State of New York.
DEMANDS AND PAYMENT. (a) Raft River may make one or more demands from time to time for payment or performance hereunder. Each demand by Raft River for payment or performance hereunder shall be in writing, reference this Guarantee, reference the Guaranteed Obligations, be signed by a duly authorized officer of Raft River and be delivered to Guarantor pursuant to Section 9 hereof. There are no other requirements of notice, presentment or demand.
(b) Any payment hereunder shall be made in US Dollars.
(c) All payments whatsoever under this Guarantee will be made by Guarantor free and clear of, and without liability for withholding or deduction for or on account of, any present or future tax of whatever nature imposed or levied by or on behalf of any jurisdiction other than the United States (or any political subdivision or taxing authority of or in such jurisdiction) (a “Taxing Jurisdiction”), unless the withholding or deduction of such tax is compelled by law. If any deduction or withholding for any tax of a Taxing Jurisdiction shall at any time be required in respect of any amounts to be paid by Guarantor under this Guarantee, Guarantor will pay to the relevant Taxing Jurisdiction the full amount required to be withheld, deducted or otherwise paid before penalties attach thereto or interest accrues thereon (and promptly give to Raft River acceptable evidence of that payment) and pay to Raft River such additional amounts as may be necessary in order that the net amounts paid to Raft River pursuant to the terms of this Guarantee after such deduction, withholding or payment (including, without limitation, any required deduction or withholding of tax on or with respect to such additional amount), shall be not less than the amounts then due and payable to Raft River under the terms of this Guarantee before the assessment of such tax. Guarantor will indemnify Raft River for any taxes paid by Raft River in respect of any amount paid or payable by Guarantor hereunder. The provisions of this Section 7(c), as they pertain to taxes, shall survive the payment in full and in cash of the Guaranteed Obligations and the other obligations hereunder.
(d) Guarantor shall reimburse Raft River for any reasonable out-of-pocket expenses incurred by Raft River in the enforcement of the obligations of Guarantor hereunder, such reimbursement to be paid promptly upon submission by Raft River to Guarantor of a written statement describing in reasonable detail the nature, purpose and amount of such expenses...
