Common use of Guarantee Period Clause in Contracts

Guarantee Period. 1. Guarantor’s Guarantee period for any obligation ends two years after the maturity date of such obligation. 2. The Guarantee period for acceptance of bank draft, issuance of letters of credit without or with reduced deposit and bank guarantee ends two years after Creditor makes payment under such facilities. 3. The Guarantee period for commercial draft discount ends two years after the maturity date of such discounted commercial draft. 4. If Creditor and Debtor agree to extend the maturity date of a guaranteed obligation set forth in a Main Agreement, the Guarantee period for that obligation is extended to two years after the new maturity date of that obligation. 5. If the maturity of a guaranteed obligation set forth in a Main Agreement is accelerated by Creditor as required by laws, regulations or the Main Agreement, the Guarantee period ends two years after the new accelerated maturity date.

Guarantee Period. 1. Guarantor’s Guarantee period for any obligation ends two years after the maturity date of such obligation. 2. The Guarantee period for acceptance of bank draft, issuance of letters of credit without or with reduced deposit and bank guarantee ends two years after Creditor makes payment under assumes such facilitiesobligation. 3. The Guarantee period for commercial draft discount ends two years after the maturity date of such discounted commercial draft. 4. If Creditor and Debtor agree to extend the maturity date of a guaranteed obligation set forth in a Main Agreement, the Guarantee period for that obligation is extended to two years after the new maturity date of that obligation. 5. If the maturity of a guaranteed obligation set forth in a Main Agreement is accelerated by Creditor as required by laws, regulations or the Main Agreement, the Guarantee period ends two years after the new accelerated maturity date.