Guaranty Payment Sample Clauses
The Guaranty Payment clause establishes the obligation of a guarantor to pay amounts owed by another party if that party fails to fulfill its payment obligations. Typically, this clause applies in loan agreements or commercial contracts where a third party guarantees the borrower's or obligor's debts, ensuring that the lender or beneficiary receives payment even if the original debtor defaults. Its core practical function is to provide financial security and risk mitigation for the party expecting payment, reducing the risk of non-payment by introducing a secondary source of funds.
Guaranty Payment. Any payment required to be made by the Guarantor pursuant to the Guaranty. Holder: As to any Outstanding Certificate, the record owner on the books of the Fiscal IDC: IDC Financial Publishing Inc. or its successor.
Guaranty Payment. Any payment required to be made by the Guarantor pursuant to the Guaranty. Holder: As to any Outstanding Certificate other than a Depository Certificate, the Person in whose name that Certificate is registered in the records of the Fiscal Agent. As to any Outstanding Certificate that is a Depository Certificate, the entity acting as nominee for the Depository. IDC: IDC Financial Publishing, Inc. or its successor.
Guaranty Payment. If CME and NYMEX each have a Net Loss or a Net Surplus on Offsetting Positions, or one Clearing Organization has a Net Loss and the other Clearing Organization has a Net Surplus on Offsetting Positions, or one Clearing Organization has either a Net Loss or a Net Surplus on Offsetting Positions and the other Clearing Organization has neither a Net Loss nor a Net Surplus on Offsetting Positions, a Guaranty Payment shall be made between the Clearing Organizations that will equalize the Net Loss or Net Surplus on Offsetting Positions between the Clearing Organizations. If the Clearing Organizations have equal Net Losses or equal Net Surpluses, then no payment will be made between the Clearing Organizations (except that a “Maximization Payment” under Section 8C below may be made). The Clearing Organization receiving a payment shall be the “Beneficiary” and the Clearing Organization making the payment shall be the “Guarantor.” The Guarantor shall make such Guaranty Payment promptly by Fed wire transfer to the designated account of the Beneficiary and in any event not later than the second Business Day next following such determination. If at any time within six months following the suspension or termination of a Cross-Margining Participant, either Clearing Organization determines that any amount paid to the other Clearing Organization in respect of a Guaranty was incorrect (including any possible return of Guaranty Payment as determined below in Section 7(e)) either because of errors in calculation at the time or because new information relevant to the determination of such amount was discovered after the determination of such amount, the Clearing Organizations shall cooperate with one another to recalculate the appropriate amount of any Guaranty payments to be made and shall make any necessary payments by Fed wire transfer to one another to correct the error within two Business Days following completion of such recalculation. Attached as Appendix J are non-exhaustive examples that illustrate how the above loss-sharing provisions will operate. In the event of inconsistency between Appendix J and the provisions of the main part of this Agreement, the main part of this Agreement shall control.
Guaranty Payment. In consideration of the Guaranty, the Company shall cause to be paid to the Guarantor (i) a commitment fee equal to $108,000 (the “Guaranty Amount”) and (ii) a monthly fee that shall accrue each calendar month during the term of the Guaranty equal to ten percent (10%) of the Guaranty Amount divided by twelve (12) (the “Monthly Fee”). The Guaranty Amount and the then accrued Monthly Fee shall be payable in cash by the Company to the Guarantor in accordance herewith upon the termination or expiration of the Guaranty.
Guaranty Payment. Any payment required to be made by the Guarantor pursuant to the Guaranty.
Guaranty Payment. Any payment required to be made by the Guarantor pursuant to the Guaranty. Holder: As to any Outstanding Certificate, the record owner on the books of the Fiscal