Inter- User Guarantee. Prior to the Service Commencement Date, Terminal User must enter into, or accede to, the Inter- User Agreement and provide an Inter-User Guarantee as per the terms of that Inter-User Agreement.
Inter- User Guarantee. (a) In respect of its obligations and liabilities under this Agreement, each B&L User shall cause a bank with an Acceptable Credit Rating to issue, for the benefit of Terminal Operator (acting for itself and as agent for and on behalf of each other B&L User), an Inter-User Guarantee on or before: for Long-Term Users, the date defined in the clause [4.3] of the TAC; and for Spot Cargo Users, [ten (10)] days prior to the first Daily Planned Sendout to be made by a Spot Cargo User as a Borrower. For the avoidance of doubt, if Spot Cargo User is not to be a Borrower then no Inter-User Guarantee is required.
(b) If the issuer of the Inter-User Guarantee ceases to maintain an Acceptable Credit Rating, then within ten (10) Business Days of such event, the B&L User shall procure replacement of the Inter-User Guarantee from an issuer with an Acceptable Credit Rating.
(c) The Inter-User Guarantee shall be provided subject to the following terms: the Inter-User Guarantee shall not be in lieu of payment of any other amounts due to an Impacted User, nor shall it operate as a limit or cap on amounts otherwise payable to an Impacted User; all costs and charges relating to the issuance, maintenance, replenishment and renewal or replacement (as applicable) of the Inter- User Guarantee shall be borne solely by the provider of the Inter-User Guarantee; the Inter-User Guarantee, and any renewal or replacement thereof, shall be valid:
(A) for Long-Term Users, at least fourteen (14) months from the first day of each Contract Year; and
(B) for Spot Cargo Users, at least two (2) months after the date on which such Spot Cargo is scheduled to be delivered. during the period of validity of an Inter-User Guarantee, if any draw is made on an Inter-User Guarantee, then the B&L User providing such Inter-User Guarantee shall, at its sole expense, within two (2) Business Days after such draw, procure the renewal, reissuance or reinstatement of the Inter-User Guarantee such that the amount of the Inter-User Guarantee is increased to, and at all times remains equal to, the total amount, required by clause 6.2; notwithstanding clause 6.1(c)(iii) or the expiry or termination of this Agreement, each B&L User shall maintain the Inter-User Guarantee in effect to comply with its obligations under this Agreement until payment has been irrevocably and indefeasibly made for all amounts which have accrued under this Agreement; and
Inter- User Guarantee. Prior to the Service Commencement Date, Spot Cargo User must enter into, or accede to, the Inter- User Agreement and provide an Inter-User Guarantee as per the terms of that Inter-User Agreement.
