Issue of Bank Guarantees. (a) If the conditions set out in this Agreement have been met, the Issuing Bank shall:
(i) issue the Bank Guarantee on the Utilisation Date; and
(ii) if so requested amend and reissue any Bank Guarantee on its Expiry Date.
(b) No Borrower may deliver a Utilisation Request unless the Facility Agent has made the notification pursuant to Clause 4.1 (Initial Conditions Precedent).
(c) The Issuing Bank will only be obliged to comply with paragraph (a) above if on the date of the Utilisation Request and on the proposed Utilisation Date:
(i) in the case of a Bank Guarantee to be renewed, no notice has been delivered under Clause 26.18 (Acceleration) relating to the Revolving Commitments and, in the case of any other Utilisation, no Default is continuing or would result from the proposed Utilisation; and
(ii) in relation to any Utilisation on the Closing Date, all the representations and warranties in Clause 22 (Representations) or, in relation to any other Utilisation, the Repeating Representations to be made by each Obligor are true in all material respects.
(d) The amount of each Lender’s participation in each Bank Guarantee will be equal to the proportion borne by its Available Commitment to the Available Facility (in each case in relation to the Revolving Facility) immediately prior to the issue of the Bank Guarantee.
(e) The Facility Agent shall determine the Base Currency Amount of each Bank Guarantee which is to be issued in an Optional Currency and shall notify the Issuing Bank and each Lender of the details of the requested Bank Guarantee and its participation in that Bank Guarantee by the Specified Time.
Issue of Bank Guarantees. (a) Subject to the provisions of this agreement, the Issuing Lender will issue the relevant Bank Guarantee requested by delivery of that Bank Guarantee to (or to the order of) the relevant Beneficiary on the relevant Drawdown Date.
(b) No Bank Guarantee shall be issued for the account of a Group Company which is not a Borrower.
(c) Any Lender which agrees with the Parent and the Facility Agent that it will issue Bank Guarantees will be the Issuing Lender. The Facility Agent shall notify the Lenders of any such agreement.
Issue of Bank Guarantees. Subject to the provisions of this agreement (including satisfaction of all applicable conditions precedent), the relevant Issuing Lender will issue the relevant Bank Guarantee requested by the relevant Borrower by delivery of that Bank Guarantee to the relevant Beneficiary on the relevant Drawdown Date. A Bank Guarantee may be requested by a Borrower for the use by or benefit of a Group Company which is not a Borrower provided that such Group Company which is a Borrower shall be liable in accordance with this agreement in respect of that Bank Guarantee as if it had been issued for its own use and benefit.
Issue of Bank Guarantees. Subject to the terms of this Agreement and the relevant Utilisation Notice, the Agent will, for and on behalf of the Banks, execute each Bank Guarantee on or before the Utilisation Date set out in the relevant Utilisation Notice and the Agent will issue the Bank Guarantee on such date, by delivering the same to or to the order of the Beneficiary.
Issue of Bank Guarantees. (a) Subject to Clause 6.7 (Delivery of Bank Guarantees), if the conditions set out in this Agreement have been met, each Lender shall issue a Bank Guarantee on the Utilisation Date.
(b) The amount of each Lender’s participation in each Utilisation by way of a Bank Guarantee will be equal to the proportion borne by its Available Commitment to the Available Facility immediately prior to the issue of the Bank Guarantee.
(c) The Agent shall notify each Lender of the details of the requested Bank Guarantee and its participation in that Utilisation by the Specified Time.
Issue of Bank Guarantees. 37 5 Reduction and Extension of Bank Guarantees...................... 41 6 Payments under Bank Guarantees.................................. 41 7 The Standby Facility............................................ 43
Issue of Bank Guarantees. 6.5.1 If the conditions set out in this Agreement have been met, the Issuing Bank shall issue the Bank Guarantee on the Utilisation Date.
6.5.2 The Issuing Bank will only be obliged to comply with clause 6.5.1 above if on the date of the Utilisation Request or Renewal Request and on the proposed Utilisation Date:
(a) in the case of a Bank Guarantee to be renewed in accordance with clause 6.6 (Renewal of a Bank Guarantee), no action has been taken under clause 25.19 (Acceleration) and, in the case of any other Utilisation, no Default is continuing or would result from the proposed Utilisation; and
(b) in relation to any Utilisation on the Closing Date, all the representations and warranties in clause 21 (Representations) or, in relation to any other Utilisation, the Repeating Representations to be made by each Obligor are true.
6.5.3 The amount of each Lender's participation in each Bank Guarantee will be equal to the Guarantee Proportion.
6.5.4 The Agent shall notify the Issuing Bank and each Lender of the details of the requested Bank Guarantee and its participation in that Bank Guarantee by the Specified Time.
Issue of Bank Guarantees. Upon (i) receipt of an Issue Request and (ii) the issue of each Bank Guarantee the Agent shall promptly notify each Bank. From the date of issue of each Bank Guarantee each Bank shall assume liability for its Proportionate Share of the Bank's Obligations and from the date of issue each Bank Guarantee shall be deemed irrevocably and unconditionally to have purchased and received from the Agent, without recourse or warranty, an undivided interest and participation, to the extent of its Proportionate Share, in each Bank Guarantee issued by the Agent. In addition each Bank (in the amount of its Proportionate Share) will upon the Agent's first demand, from time to time, reimburse the Agent for any sums paid out by the Agent under any Bank Guarantee in accordance with Clause 6.
Issue of Bank Guarantees. (a) If the conditions set out in this Agreement have been met, the relevant Issuing Bank shall:
(i) issue the Bank Guarantee on the Utilisation Date; and
(ii) if so requested amend and/or reissue any Bank Guarantee.
(b) In relation to any amendment to the terms of any Bank Guarantee issued hereunder, any amendments relating to:
(i) an increase in the amount of any Bank Guarantee, shall be subject to the relevant Issuing Bank being satisfied that if a new Bank Guarantee was issued (rather than an amendment to increase the current amount of the Bank Guarantee) the conditions in relation to the issue of a Bank Guarantee for such additional amount would be satisfied; and
(ii) a change in conditions or extension in each case (not having the effect of increasing the amount of the Bank Guarantee) shall be subject to the consent of the relevant Issuing Bank acting reasonably.
(c) An Issuing Bank shall only be obliged to comply with paragraph (a) above in relation to any Utilisation if the conditions to that Utilisation set out in this Agreement have been met.
(d) The amount of each Lender’s participation in each Bank Guarantee will be equal to the proportion borne by its Available Commitment to the Available Facility (in each case in relation to the applicable Revolving Facility) immediately prior to the issue of the Bank Guarantee or, to the extent of such increase, on the date upon which any Contingent Liability under a Bank Guarantee is increased.
(e) The Facility Agent shall determine the Base Currency Amount of each Bank Guarantee which is to be issued in an Optional Currency and shall notify the relevant Issuing Bank and each Lender of the details of the requested Bank Guarantee and its participation in that Bank Guarantee by the Specified Time.
(f) If the Expiry Date of a Bank Guarantee extends beyond the Maturity Date of the Revolving Facility, the Obligors’ Agent will (to the extent that such Bank Guarantee has not otherwise been repaid or prepaid) provide, or will cause to be provided, cash cover to the relevant Issuing Bank on or before such Maturity Date.
Issue of Bank Guarantees. (a) Subject to the provisions of this agreement, the Issuing Lender will issue the relevant Bank Guarantee requested by delivery of that Bank Guarantee to (or to the order of) the relevant Beneficiary on the relevant Drawdown Date.
(b) No Bank Guarantee shall be issued for the account of a Group Company which is not a Borrower.
(c) Any Lender which agrees with Bidco 2 and the Facility Agent that it will issue Bank Guarantees will be an Issuing Lender. The Facility Agent shall notify the Lenders of any such agreement.
(d) No Bank Guarantee shall be issued in favour of a financial institution to support local banking facilities in a Restricted Country save in respect of exclusively working capital facilities.
