Common use of Payment Guarantee Clause in Contracts

Payment Guarantee. Notwithstanding the payment guarantee provisions set forth in the FWA PLA, the parties hereby agree to cancel Axtel’s obligations set forth in the FWA PLA to provide a payment guarantee (a letter of credit) to Airspan to secure the payments to be made under the FWA PLA. Therefore, the Parties hereby agree that from the date of the execution of this Amendment Agreement No. 2, Axtel shall not be required to provide to Airspan any type of payment guarantee (including letters of credit) to secure its payments under the FWA PLA (including to secure the payments of the New Incremental FWA Equipment mentioned in Section 5 of this Amendment Agreement No. 2).

Payment Guarantee. Notwithstanding the payment guarantee provisions set forth in the FWA PLA, the parties hereby agree to cancel Axtel’s 's obligations set forth in the FWA PLA to provide a payment guarantee (a letter of credit) to Airspan to secure the payments to be made under the FWA PLA. Therefore, the Parties hereby agree that from the date of the execution of this Amendment Agreement No. 2, Axtel shall not be required to provide to Airspan any type of payment guarantee (including letters of credit) to secure its payments under the FWA PLA (including to secure the payments of the New Incremental FWA Equipment mentioned in Section 5 of this Amendment Agreement No. 2).