Common use of Effectiveness and Termination of the Agreement Clause in Contracts

Effectiveness and Termination of the Agreement. 9.1. The Agreement comes into effect upon its signing by the Parties and unless otherwise specified by the Annex No. 2 (if any) stays valid: 9.1.1. Until the end of the term of the Master Agreement (provided that by that date the Debtor shall have met completely and duly the Secured Claims against the Bank envisaged by the Agreement on the Secured Claims); or 9.1.2. Until the fulfillment by the Guarantor of obligations envisaged by the Agreement completely and duly. 9.2. Breach of the Agreement on the Secured Claims provides sufficient grounds for the Bank to request the Guarantor, Debtor and/or any Third Party to meet immediately claims (including immature ones) originating on the basis of the Agreement on the Secured Claims and the Agreement in the manner established by the Agreement on the Secured Claims and the Agreement, and in case of failure to honour the Bank’s above request – for exercising foreclosure by the Bank against the Guarantor in the manner defined by the Agreement and/or the Legislation.

Appears in 5 contracts

Samples: Joint Guarantee Agreement, Joint Guarantee Agreement, Joint Guarantee Agreement

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