Common use of Guarantee Amount Clause in Contracts

Guarantee Amount. In consideration of the Beneficiary accepting this Undertaking and its terms, XXX undertakes unconditionally to pay the Beneficiary on written demand from time to time any sum or sums up to an aggregate amount not exceeding: Australian Dollars [insert amount] (Amount). Undertaking: XXX will pay the Amount or any part of it to the Beneficiary upon presentation of this original Undertaking (accompanied by a written demand) at [insert address] without reference to the Applicant and even if the Applicant has given XXX notice not to pay the money, and without regard to the performance or non- performance of the Applicant or Beneficiary under the terms of the contract or agreement. By accepting this Undertaking, the Beneficiary acknowledges and agrees that XXX may rely entirely on any demand or notice as presented to it and has no responsibility or obligation to investigate the authenticity or correctness of the matters stated in a demand or notice, the signatures on the same, the positions of such signatories or the capacity or entitlement of the Beneficiary to give and execute the demand or notice. Any alterations to the terms of the contract or agreement or any extensions of time or any other forbearance by the Beneficiary or Applicant will not impair or discharge XXX's liability under the Undertaking. This Undertaking remains in force until the first to occur of: - The Beneficiary notifies XXX in writing that the Undertaking is no longer required; - This original Undertaking is returned to [insert address]; - XXX has paid to the Beneficiary the Amount or the balance outstanding of the Amount; or

Guarantee Amount. In consideration of the Beneficiary accepting this Undertaking and its terms, XXX undertakes unconditionally to pay the Beneficiary on written demand from time to time any sum or sums up to an aggregate amount not exceeding: Australian Dollars [insert amount] (Amount). Undertaking: XXX will pay the Amount or any part of it to the Beneficiary upon presentation of this original Undertaking (accompanied by a written demand) at [insert address] without reference to the Applicant and even if the Applicant has given XXX notice not to pay the money, and without regard to the performance or non- performance of the Applicant or Beneficiary under the terms of the contract or agreement. By accepting this Undertaking, the Beneficiary acknowledges and agrees that XXX may rely entirely on any demand or notice as presented to it and has no responsibility or obligation to investigate the authenticity or correctness of the matters stated in a demand or notice, the signatures on the same, the positions of such signatories or the capacity or entitlement of the Beneficiary to give and execute the demand or notice. Any alterations to the terms of the contract or agreement or any extensions of time or any other forbearance by the Beneficiary or Applicant will not impair or discharge XXX's ’s liability under the Undertaking. This Undertaking remains in force until the first to occur of: - The Beneficiary notifies XXX in writing that the Undertaking is no longer required; - This original Undertaking is returned to [insert address]; - XXX has paid to the Beneficiary the Amount or the balance outstanding of the Amount; or