Common use of Financial Guarantee Clause in Contracts

Financial Guarantee. 11.1. In order to secure any potential claims of EUS against the Shipper under this Contract and Individual Contract, the Parties have agreed that Shipper shall provide EUS with and shall maintain the financial guarantee in the form of (i) an irrevocable, unconditional bank guarantee in favour of EUS payable on first demand or (ii) a cash collateral. The financial security shall be provided no later than on June 26, 2019. The bank guarantee shall not expire sooner than two months after the expiration of the last Booked daily transmission capacity. All costs related to this bank guarantee shall be covered by the Shipper. The bank guarantee must be issued, and if relevant confirmed, by a bank with Xxxxx’x long term credit rating of not less than Baa2 or Standard & Poor's BBB. The language of the document is English or Slovak. If the bank guarantee does not cover the overall required period the Shipper shall extend the bank guarantee until 60th day preceding the expiry of the currently valid bank guarantee. Financial guarantee in the form of collateral is payable to the following collateral bank account of EUS: IBAN XX00 0000 0000 0000 0000 0000 with the bank VÚB, a.s., Bratislava branch, SWIFT: XXXXXXXX. Financial guarantee in the form of collateral shall not be considered as a down payment for transmission services. EUS shall return unspent financial resources of the cash collateral without any bank interests to the Shipper not later than two (2) months after the expiration of this Contract.

Financial Guarantee. 11.1. In order to secure any potential claims of EUS against the Shipper under this Contract and Individual Contract, the Parties have agreed that Shipper shall provide EUS with and shall maintain the financial guarantee in the form of (i) an irrevocable, unconditional bank guarantee in favour of EUS payable on first demand or (ii) a cash collateral. The financial security shall be provided no later than on June 26, 20192020. The bank guarantee shall not expire sooner than two months after the expiration of the last Booked daily transmission capacity. All costs related to this bank guarantee shall be covered by the Shipper. The bank guarantee must be issued, and if relevant confirmed, by a bank with Xxxxx’x long term credit rating of not less than Baa2 or Standard & Poor's BBB. The language of the document is English or Slovak. If the bank guarantee does not cover the overall required period the Shipper shall extend the bank guarantee until 60th day preceding the expiry of the currently valid bank guarantee. Financial guarantee in the form of collateral is payable to the following collateral bank account of EUS: IBAN XX00 0000 0000 0000 0000 0000 with the bank VÚB, a.s., Bratislava branch, SWIFT: XXXXXXXX. Financial guarantee in the form of collateral shall not be considered as a down payment for transmission services. EUS shall return unspent financial resources of the cash collateral without any bank interests to the Shipper not later than two (2) months after the expiration of this Contract.

Financial Guarantee. 11.1. In order to secure any potential claims of EUS against the Shipper under this Contract and Individual Contract, the Parties have agreed that Shipper shall provide EUS with and shall maintain the financial guarantee in the form of (i) an irrevocable, unconditional bank guarantee in favour of EUS payable on first demand or (ii) a cash collateral. The financial security shall be provided no later than on June September 26, 20192018. The bank guarantee shall not expire sooner than two months after the expiration of the last Booked daily transmission capacity. All costs related to this bank guarantee shall be covered by the Shipper. The bank guarantee must be issued, and if relevant confirmed, by a bank with Xxxxx’x long term credit rating of not less than Baa2 or Standard & Poor's BBB. The language of the document is English or Slovak. If the bank guarantee does not cover the overall required period the Shipper shall extend the bank guarantee until 60th day preceding the expiry of the currently valid bank guarantee. Financial guarantee in the form of collateral is payable to the following collateral bank account of EUS: IBAN XX00 0000 0000 0000 0000 0000 with the bank VÚB, a.s., Bratislava branch, SWIFT: XXXXXXXX. Financial guarantee in the form of collateral shall not be considered as a down payment for transmission services. EUS shall return unspent financial resources of the cash collateral without any bank interests to the Shipper not later than two (2) months after the expiration of this Contract.

Financial Guarantee. 11.1. In order to secure any potential claims of EUS against the Shipper under this Contract and Individual Contract, the Parties have agreed that Shipper shall provide EUS with and shall maintain the financial guarantee in the form of (i) an irrevocable, unconditional bank guarantee in favour of EUS payable on first demand or (ii) a cash collateral. The financial security shall be provided no later than on June 26, 2019. The bank guarantee shall not expire sooner than two months after the expiration of the last Booked daily transmission capacity. All costs related to this bank guarantee shall be covered by the Shipper. The bank guarantee must be issued, and if relevant confirmed, by a bank with Xxxxx’x Moody’s long term credit rating of not less than Baa2 or Standard & Poor's BBB. The language of the document is English or Slovak. If the bank guarantee does not cover the overall required period the Shipper shall extend the bank guarantee until 60th day preceding the expiry of the currently valid bank guarantee. Financial guarantee in the form of collateral is payable to the following collateral bank account of EUS: IBAN XX00 0000 0000 0000 0000 0000 with the bank VÚB, a.s., Bratislava branch, SWIFT: XXXXXXXX. Financial guarantee in the form of collateral shall not be considered as a down payment for transmission services. EUS shall return unspent financial resources of the cash collateral without any bank interests to the Shipper not later than two (2) months after the expiration of this Contract.