Form of Bank Guarantee. 1. Collaterals that are provided in the form of a Bank Guarantee shall comply with the following specifications:
(a) the Bank Guarantee shall be provided in the form of the template that is available on the website of the Allocation Platform and updated from time to time or in a form that substantially follows the template;
(b) the Bank Guarantee shall be written in English;
(c) the Bank Guarantee covers all Auctions organized by the Allocation Platform subject to these Allocation Rules;
(d) the Bank Guarantee shall allow partial and multiple drawing by the Allocation Platform, up to the maximum amount guaranteed;
(e) the Bank Guarantee shall provide for payment upon first request of the Allocation Platform. It shall further provide that, if the Allocation Platform calls upon the Bank Guarantee, the bank shall pay automatically without any other condition than the receipt of a demand sent by SWIFT through intermediary bank confirming that the signatures on the request appear to conform to specimen held by the bank;
(f) the Bank Guarantee shall be irrevocable, unconditional and non-transferable;
(g) the bank issuing the Bank Guarantee shall be permanently established, including via a branch in a EU member state, European Economic Area, Energy Community Contracting Party or Observer Country or Switzerland;
(h) the bank issuing the Bank Guarantee or the financial group it belongs to shall have a long term credit rating of not less than BBB- by Standard and Poor’s Corporation, BBB- by Fitch or Baa3 by Xxxxx’x Investors Service Inc If the rating requirement is not fulfilled by the issuing bank itself but by the financial group to which it belongs, the issuing bank shall provide the Allocation Platform with a parental guarantee or an equivalent document issued by the financial group. If the issuing bank or the financial group, the issuing bank belongs to ceases to have the required long term credit rating, the Registered Participant shall within five (5) Working Days submit to the Allocation Platform a substitute Bank Guarantee by a bank complying with the required long term credit rating or replace the Bank Guarantee by deposit. If there are industry-wide downgrades of financial institutions, the Allocation Platform may investigate what the new standards are and, if deemed necessary, decrease the required rating for a limited period of time, informing TSOs, who shall then inform the relevant NRAs.
(i) the bank issuing the Bank Guarantee shall not be an Affiliat...
Form of Bank Guarantee. THIS BANK GUARANTEE is issued on this [day] day of [month] [year] by [Bank’s details to be inserted] (the “Guarantor”) in favour of Trans Austria Gasleitung GmbH, a company organised and existing under the laws of Austria having its registered offices at Xxxxxxx Xxxxxxxxxxxx 000, X-0000 Xxxxxx (together with its successors and permitted assignees “TAG”). [Bank Name to be added] herewith declares to have a Rating equal or higher than Baa3 Xxxxx’x or equivalent Standard & Poor’s or Fitch at the date of issue of this Bank Guarantee.
Form of Bank Guarantee. Instructions: This Guarantee is to be typed on the Bank’s letterhead and submitted together with the Proposal.
Form of Bank Guarantee. The Hon. Minister
Form of Bank Guarantee. (To be executed on Non-Judicial Stamp Paper of Rs.100/- by the successful tenderer)
Form of Bank Guarantee. 1. Collaterals that are provided in the form of a Bank Guarantee shall comply with the following specifications:
(a) the Bank Guarantee shall be provided in the form of the template that is available on the website of the Allocation Platform and updated from time to time or in a form that substantially follows the template;
(b) the Bank Guarantee shall be written in English;
(c) the Bank Guarantee covers all Auctions organized by the Allocation Platform subject to these Allocation Rules;
(d) the Bank Guarantee shall allow partial and multiple drawing by the Allocation Platform, up to the maximum amount guaranteed;
(e) the Bank Guarantee shall provide for payment upon first request of the Allocation Platform. It shall further provide that, if the Allocation Platform calls upon the Bank Guarantee, the bank shall pay automatically without any other condition than the receipt of a written demand by registered letter from the Allocation Platform.
(f) the Bank Guarantee shall be irrevocable, unconditional and non-transferable;
Form of Bank Guarantee. 1. Collaterals that are provided in the form of a Bank Guarantee shall comply with the following specifications:
(a) the Bank Guarantee shall be provided in the form of the template that is available on the website of the Allocation Platform and updated from time to time or in a form that substantially follows the template;
(b) the Bank Guarantee shall be written in English;
(c) the Bank Guarantee covers all Auctions organized by the Allocation Platform subject to these Allocation Rules;
(d) the Bank Guarantee shall allow partial and multiple drawing by the Allocation Platform, up to the maximum amount guaranteed;
(e) the Bank Guarantee shall provide for payment upon first request of the Allocation Platform. It shall further provide that, if the Allocation Platform calls upon the Bank Guarantee, the bank shall pay automatically without any other condition than the receipt of a written demand by registered letter from the Allocation Platform;
(f) the Bank Guarantee shall be irrevocable, unconditional and non-transferable;
(g) the Bank Guarantee may alternative include handwritten signature(s) or qualified electronic signature(s) (QES) from the issuing Bank. In the event the Bank Guarantee is signed with qualified electronic signature(s) (QES), all the following amendments shall be be signed with a qualified electronic signature(s) (QES);
Form of Bank Guarantee. 1. In consideration of the Government of Sierra Leone represented by the Director General of the Petroleum Directorate (hereinafter referred to as “the State”) having entered into a Petroleum Licence for the block dated (hereinafter referred to as “Licence”, which expression shall include all the amendments agreed to between the State and the Licensee, thereto), with M/s having its registered office at _ (hereinafter referred to as “Licensee”, which expression unless repugnant to the context or meaning thereof include all its successors, administrators, executors and assigns), and the State have agreed that the Licensee shall furnish to the State, a bank guarantee (hereinafter referred to as “Guarantee”) towards its minimum financial obligations as provided in the Contract for US$(XXX) for the performance of its obligations under the Licence.
2. We (name of the Bank) registered under the Law of and having its registered office at (hereinafter referred to as “the Bank”, which expression shall unless repugnant to the context or meaning thereof includes all its successors, administrators, executors and assigns) do hereby guarantee and undertake to pay to the State, immediately on the first demand in writing, any/all money(s) to the extent of US$ (in figures) and (US$ in words) without any demur, reservation, contest or protest and/or without any reference to the Licensee. Any such demand made by the State on the Bank by serving a written notice shall be conclusive and binding, without any proof, on the Bank as regards the amount due and payable, notwithstanding any dispute(s) pending before any court, tribunal, arbitrator, sole expert, conciliator, or any other authority and/or any other matter or thing whatsoever, as liability under these presents being absolute and unequivocal. We agree that the Guarantee herein contained shall be irrevocable and shall continue to be enforceable until it is discharged by the State in writing. This Guarantee shall not be determined, discharged, or affected by the liquidation, winding up, dissolution or insolvency of the Licensee and shall remain valid, binding and operative against the Bank.
3. The Bank also agree that the State at its option shall be entitled to enforce this Guarantee against the Bank as a principal debtor, in the first instance, without proceeding against the Licensee and notwithstanding any security or other guarantee that the State may have in relation to the Licensee’s liabilities.
4. The Bank further a...
Form of Bank Guarantee. 16 Article 20 Validity and renewal of the Bank Guarantee 18 Article 21 Credit Limit 18 Article 22 Modifications of the collaterals 19
Form of Bank Guarantee. Any Bank Guarantee issued or to be issued by BNU under this Agreement shall be in the form of the Existing Guarantee, or in such other form as agreed by the Macau SAR, BNU and the Company.
