Extension of Guarantee Period Sample Clauses

Extension of Guarantee Period. With respect to any of the Work that is repaired, replaced or corrected during the applicable term of this guarantee, the guarantee and the Contractor’s obligation hereunder shall be extended for an additional one‐year period, commencing with the date of acceptance of the repaired, replaced, or corrected Work.
Sample 1
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Extension of Guarantee Period. If an event of force majeure affecting the delivery, lifting or processing of Maya results in a curtailment of processing at the Refinery of more than twenty-five percent (25%) of the Contract Quantity on average over any period of fifteen (15) consecutive Days or more during the Guarantee Period, then the Guarantee Period shall be extended by the number of Days necessary for the Refinery, assuming operation at Design Capacity, to process the quantity of Maya not processed due to such curtailment; provided, however, that: (a) in the event (i) such force majeure is a Governmental Force Majeure and (ii) no quantity of Maya the sale and delivery of which would otherwise be reduced under this Agreement is applied instead, pursuant to the terms of Article 16.4(b), against Maya nominated under another agreement, then the above-mentioned threshold of twenty-five percent on average over fifteen Days shall not apply as a condition to such extension of the Guarantee Period; (b) the aggregate period of all extensions under this Article 16.5 shall not exceed two hundred seventy (270) Days in respect of events of force majeure affecting the production or delivery of Maya by Seller or the facilities at the Loading Port, and three hundred sixty-five (365) Days in respect of events of force majeure affecting the lifting, transportation, storage or processing of Maya by Buyer; and (c) Buyer, within thirty (30) Days following the end of any such curtailment, shall notify Seller of the specific event of force majeure which caused the curtailment, its duration and the number of Barrels of Maya affected. Upon request from Seller, Buyer shall supply an officer's certificate confirming the content of such notice.
Sample 1
Extension of Guarantee Period. If an event of force majeure affecting the delivery, lifting or processing of Maya results in a curtailment of processing at the Refinery of more than twenty-five percent (25%) of the Contract Quantity on average over any period of fifteen (15) consecutive Days or more during the Guarantee Period, then the Guarantee Period shall be extended by the number of Days necessary for the Refinery, assuming operation at Design Capacity, to process the quantity of Maya not processed due to such curtailment; provided, however, that the aggregate period of all such extensions shall not exceed two hundred seventy (270) Days in respect of events of force majeure affecting the production or delivery of Maya by Seller or the facilities at the Loading Port, and three hundred sixty-five (365) Days in respect of events of force majeure affecting the lifting, transportation, storage or processing of Maya by Buyer; and, provided further, that Buyer, within thirty (30) Days following the end of any such curtailment, shall notify Seller of the specific event of force majeure which caused the curtailment, its duration and the number of Barrels of Maya affected. Upon request from Seller, Buyer shall supply an officer's certificate confirming the content of such notice.
Sample 1
Extension of Guarantee Period. If repairs are required under this Specific Guarantee for associated Mechanical, Electrical, Power, Signal, Communication, Elevator and Escalator work, then the Guarantee Period shall be extended in accordance with Section 14.2 (Reinstatement of Warranty Period After Repair).
Sample 1

Related to Extension of Guarantee Period

  • DURATION OF GUARANTY This Guaranty will take effect when received by Lender without the necessity of any acceptance by Lender, or any notice to Guarantor or to Borrower, and will continue in full force until all Obligations incurred, committed, or contracted before receipt by Lender of any notice of revocation shall have been fully and finally paid and satisfied and all other obligations of Guarantor under this Guaranty shall have been performed in full. If Guarantor elects to revoke this Guaranty, Guarantor may only do so in writing. Guarantor’s written notice of revocation must be delivered to Lender at the address of Lender listed below or such other place as Lender may designate in writing. This Guaranty may be revoked only with respect to the Obligations incurred or contracted by Borrower, or acquired or committed to by Lender after the date on which written notice of revocation is actually received by Lender. No notice of revocation hereof shall be effective as to any Obligations: (a) existing at the date of receipt of such notice; (b) incurred or contracted by Borrower, or acquired or committed to by Lender, prior to receipt of such notice; (c) now existing or hereafter created pursuant to or evidenced by the Loan Agreement or a commitment in existence prior to receipt of such notice under which Borrower is or may become obligated to Lender; or (d) renewals, extensions, consolidations, substitutions, and refinancings of the foregoing. Guarantor waives notice of revocation given by any other guarantor of the Obligations. If Guarantor is an individual, this Guaranty shall bind the estate of Guarantor as to Obligations created both before and after the death or incapacity of Guarantor, regardless of Lender’s actual notice of Guarantor’s death or incapacity. Subject to the foregoing, Guarantor’s executor or administrator or other legal representative may revoke this Guaranty in the same manner in which Guarantor might have revoked it and with the same effect. Release of any other guarantor of the Obligations, or termination or revocation of any other guaranty of the Obligations, shall not affect the liability of Guarantor under this Guaranty. Notwithstanding any provision to the contrary, it shall be an Event of Default under the Loan Agreement if Guarantor revokes, or disputes the validity of or liability under, this Guaranty or any of the Loan Documents. It is anticipated that fluctuations may occur in the aggregate amount of the Obligations covered by this Guaranty, and it is specifically acknowledged and agreed by Guarantor that reductions in the amount of the Obligations, even to zero dollars shall not constitute a termination of this Guaranty.

  • Term of Guarantee The Term of Guarantee hereunder shall be two years as from the effectiveness date of this Contract until the expiration date of the term for fulfilling the debt under the Master Contract. Where the term of the debt is extended, subject to the consent of Guarantor, the Term of Guarantee shall last for the two years as from the expiration date of the term for fulfilling the debt as stipulated in the extension agreement. Provided that Party B announces to advance the maturity of the debt pursuant to the Master Contract, the Term of Guarantee shall last for the two years as from the date of the earlier maturity of the debt announced by Party B. In the event that the debt under the Master Contract is fulfilled on installments, then with respect to each debt, the Term of Guarantee shall be two years as from the expiration date of the term for fulfilling the last debt.

  • Term of Guaranty This Guaranty shall continue in effect until all the Guaranteed Obligations and all of the obligations of Guarantor to Lender under this Guaranty are fully and finally paid, performed and discharged and are not subject to any bankruptcy preference period or any other disgorgement.

  • Termination of Guarantee (a) This Guarantee shall terminate upon the occurrence of the following events:

  • Termination of Guaranty The obligations of any Guarantor under this Guaranty shall automatically terminate in accordance with Section 9.14 of the Credit Agreement.

  • Reinstatement of Guaranty This Guaranty Agreement shall continue to be effective, or be reinstated, as the case may be, if and to the extent at any time payment, in whole or in part, of any of the sums due to any holder on account of the Guaranteed Obligations is rescinded or must otherwise be restored or returned by a holder upon the insolvency, bankruptcy, dissolution, liquidation or reorganization of the Company or any other guarantors, or upon or as a result of the appointment of a custodian, receiver, trustee or other officer with similar powers with respect to the Company or any other guarantors or any part of its or their property, or otherwise, all as though such payments had not been made.

  • Acceleration of Guaranty The Guarantor agrees that, if any Event of Default under Section 8.1.7 of the Credit Agreement shall occur or the Loans are declared due and payable, the Guarantor will, automatically and without the requirement that any demand for payment be made, pay to the Lender Parties forthwith the full amount of the Guaranteed Obligations that are then due and payable.

  • Confirmation of Guarantee The Guarantor hereby confirms and agrees that (i) the Guarantee is and shall continue to be in full force and effect and is otherwise hereby ratified and confirmed in all respects; and (ii) the Guarantee is and shall continue to be an unconditional and irrevocable guarantee of all of the Obligations (as defined in the Guarantee).

  • Confirmation of Guaranty Each of the Guarantors confirms that they have read and understand the Amendment. In order to induce the Lenders, the Administrative Agent and the other Agents to enter into the Amendment, each of the Guarantors: (i) consents to the Amendment and the transactions contemplated thereby; (ii) ratifies and confirms each of the Loan Documents to which it is a party; (iii) ratifies, agrees and confirms that it has been a Guarantor and a Loan Party at all times since it became a Guarantor and a Loan Party and from and after the date hereof, each Guarantor shall continue to be a Guarantor and a Loan Party in accordance with the terms of the Loan Documents, as the same may be amended in connection with the Amendment and the transactions contemplated thereby; and (iv) hereby ratifies and confirms its obligations under each of the Loan Documents (including all exhibits and schedules thereto), as the same may be amended in connection with the Amendment and the transactions contemplated thereby, by signing below as indicated and hereby acknowledges and agrees that nothing contained in any of such Loan Documents is intended to create, nor shall it constitute an interruption, suspension of continuity, satisfaction, discharge of prior duties, novation or termination of the indebtedness, loans, liabilities, expenses, guaranty or obligations of any of the Loan Parties under the Credit Agreement or any other such Loan Document.

  • Ratification of Guaranty By its execution of this Addendum, CFSC ratifies and confirms its guaranty contained in Article IX of the Credit Agreement with respect to the Japan Local Currency Advances made pursuant to this Addendum which Guaranty remains in full force and effect.

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