Common use of Performance and Warranty Guarantee Clause in Contracts

Performance and Warranty Guarantee. 17.1 To secure the punctual, complete and entire performance of all of Supplier's obligations under this Agreement, Supplier will furnish the Warranty Guarantee (collectively, the "Guarantee"), all as specified in this Section below. Guarantee shall be issued by a first class bank approved in advance by ISR. 17.2 No later than fourteen (14) Business Days following the date of the Purchase Order, Supplier shall furnish ISR with an irrevocable autonomous Guarantee, approved in advance by ISR and issued in the form attached hereto as Appendix E in the amount equal to 1,000,000 Euro valid until two (2) months following the end of the Warranty Period for the last Goods supplied under this Agreement. Until Supplier shall have issued the Guarantee as per the above, the Bid Guarantee shall serve as the Guarantee for any and all purposes. 17.3 Guarantee shall be in the relevant form for such Guarantee attached as Appendix E and shall be denominated in Euros only. Guarantee shall be unconditional and irrevocable bank guarantees, issued by a first-class bank acceptable to ISR at its sole and absolute discretion (which acceptance must be recorded in advance and in writing), to be paid upon first written demand without the need to prove or substantiate the demand. 17.4 Except as otherwise specified in this Agreement, the timely submission of Guarantee to be furnished by Supplier to ISR under this Agreement is considered pre-requisites for ISR's execution of any payment due to Supplier under this Agreement. 17.5 Supplier shall maintain the Guarantee valid through their respective times as stipulated in this Section. If sixty (60) days prior to the expiration of Guarantee, Supplier has not completed all of the respective obligations to be performed during the time period secured by such Guarantee, or if such period has been extended, Supplier shall provide, at its own expense, a substitute Guarantee meeting the requirements of this Section, or extend the term of the relevant Guarantee and notify ISR of such extension, failing which ISR shall be entitled, without derogating from any other remedy that may be available to it under the circumstances, to collect from any of the Guarantees, the amount of that Guarantee. 17.6 Collection on a Guarantee or any part thereof by ISR shall not derogate from the right of ISR to terminate this Agreement, nor from its right to any remedy that may be available to it under any applicable law and/or agreement or relieve Supplier of any of its liabilities and undertakings under this Agreement, including its liability to indemnify ISR.

Performance and Warranty Guarantee. 17.1 To secure the punctual, complete and entire performance of all of Supplier's obligations under this Agreement, Supplier will furnish the Performance and Warranty Guarantee (collectively, the "Guarantee"), all as specified in this Section below. Guarantee shall be issued by a first class bank approved in advance by ISR. 17.2 No later than fourteen (14) Business Days following the date of the Purchase Order, Supplier shall furnish ISR with an irrevocable autonomous Guarantee, approved in advance by ISR and issued in the form attached hereto as Appendix E in the amount equal to 1,000,000 350,000 Euro valid until two (2) months following the end of the Warranty Period for the last Goods Mono-Block Wheels supplied under this Agreement. Until Supplier shall have issued the Guarantee as per the above, the Bid Guarantee shall serve as the Guarantee for any and all purposes. 17.3 Guarantee shall be in the relevant form for such Guarantee attached as Appendix E and shall be denominated in Euros only. Guarantee shall be unconditional and irrevocable bank guarantees, issued by a first-class bank acceptable to ISR at its sole and absolute discretion (which acceptance must be recorded in advance and in writing), to be paid upon first written demand without the need to prove or substantiate the demand. 17.4 Except as otherwise specified in this Agreement, the timely submission of Guarantee to be furnished by Supplier to ISR under this Agreement is considered pre-requisites for ISR's execution of any payment due to Supplier under this Agreement. 17.5 Supplier shall maintain the Guarantee valid through their respective times as stipulated in this Section. If sixty (60) days prior to the expiration of Guarantee, Supplier has not completed all of the respective obligations to be performed during the time period secured by such Guarantee, or if such period has been extended, Supplier shall provide, at its own expense, a substitute Guarantee meeting the requirements of this Section, or extend the term of the relevant Guarantee and notify ISR of such extension, failing which ISR shall be entitled, without derogating from any other remedy that may be available to it under the circumstances, to collect from any of the Guarantees, the amount of that Guarantee. 17.6 Collection on a Guarantee or any part thereof by ISR shall not derogate from the right of ISR to terminate this Agreement, nor from its right to any remedy that may be available to it under any applicable law and/or agreement or relieve Supplier of any of its liabilities and undertakings under this Agreement, including its liability to indemnify ISR.

Performance and Warranty Guarantee. 17.1 To secure the punctual, complete and entire performance of all of Supplier's obligations under this Agreement, Supplier will furnish the Performance and Warranty Guarantee (collectively, the "Guarantee"), all as specified in this Section below. Guarantee shall be issued by a first class bank approved in advance by ISR. 17.2 No later than fourteen (14) Business Days following the date of the Purchase Order, Supplier shall furnish ISR with an irrevocable autonomous Guarantee, approved in advance by ISR and issued in the form attached hereto as Appendix E in the amount equal to 1,000,000 200,000 Euro valid until two (2) months following the end of the Warranty Period for the last Goods Brake Shoes supplied under this Agreement. Until Supplier shall have issued the Guarantee as per the above, the Bid Guarantee shall serve as the Guarantee for any and all purposes. 17.3 Guarantee shall be in the relevant form for such Guarantee attached as Appendix E and shall be denominated in Euros only. Guarantee shall be unconditional and irrevocable bank guarantees, issued by a first-class bank acceptable to ISR at its sole and absolute discretion (which acceptance must be recorded in advance and in writing), to be paid upon first written demand without the need to prove or substantiate the demand. 17.4 Except as otherwise specified in this Agreement, the timely submission of Guarantee to be furnished by Supplier to ISR under this Agreement is considered pre-requisites for ISR's execution of any payment due to Supplier under this Agreement. 17.5 Supplier shall maintain the Guarantee valid through their respective times as stipulated in this Section. If sixty (60) days prior to the expiration of Guarantee, Supplier has not completed all of the respective obligations to be performed during the time period secured by such Guarantee, or if such period has been extended, Supplier shall provide, at its own expense, a substitute Guarantee meeting the requirements of this Section, or extend the term of the relevant Guarantee and notify ISR of such extension, failing which ISR shall be entitled, without derogating from any other remedy that may be available to it under the circumstances, to collect from any of the Guarantees, the amount of that Guarantee. 17.6 Collection on a Guarantee or any part thereof by ISR shall not derogate from the right of ISR to terminate this Agreement, nor from its right to any remedy that may be available to it under any applicable law and/or agreement or relieve Supplier of any of its liabilities and undertakings under this Agreement, including its liability to indemnify ISR.

Performance and Warranty Guarantee. 17.1 To secure the punctual, complete and entire performance of all of Supplier's obligations under this Agreement, Supplier will furnish the Performance and Warranty Guarantee (collectively, the "Guarantee"), all as specified in this Section below. Guarantee shall be issued by a first class bank approved in advance by ISR. 17.2 No later than fourteen (14) Business Days following the date of the Purchase Order, Supplier shall furnish ISR with an irrevocable autonomous Guarantee, approved in advance by ISR and issued in the form attached hereto as Appendix E in the amount equal to 1,000,000 200,000 Euro valid until two (2) months following the end of the Warranty Period for the last Goods Brake Pads supplied under this Agreement. Until Supplier shall have issued the Guarantee as per the above, the Bid Guarantee shall serve as the Guarantee for any and all purposes. 17.3 Guarantee shall be in the relevant form for such Guarantee attached as Appendix E and shall be denominated in Euros only. Guarantee shall be unconditional and irrevocable bank guarantees, issued by a first-class bank acceptable to ISR at its sole and absolute discretion (which acceptance must be recorded in advance and in writing), to be paid upon first written demand without the need to prove or substantiate the demand. 17.4 Except as otherwise specified in this Agreement, the timely submission of Guarantee to be furnished by Supplier to ISR under this Agreement is considered pre-requisites for ISR's execution of any payment due to Supplier under this Agreement. 17.5 Supplier shall maintain the Guarantee valid through their respective times as stipulated in this Section. If sixty (60) days prior to the expiration of Guarantee, Supplier has not completed all of the respective obligations to be performed during the time period secured by such Guarantee, or if such period has been extended, Supplier shall provide, at its own expense, a substitute Guarantee meeting the requirements of this Section, or extend the term of the relevant Guarantee and notify ISR of such extension, failing which ISR shall be entitled, without derogating from any other remedy that may be available to it under the circumstances, to collect from any of the Guarantees, the amount of that Guarantee. 17.6 Collection on a Guarantee or any part thereof by ISR shall not derogate from the right of ISR to terminate this Agreement, nor from its right to any remedy that may be available to it under any applicable law and/or agreement or relieve Supplier of any of its liabilities and undertakings under this Agreement, including its liability to indemnify ISR.

Performance and Warranty Guarantee. 17.1 16.1 To secure the punctual, complete and entire performance of all of Supplier's obligations under this Agreement, Supplier will furnish the Performance and Warranty Guarantee (collectively, the "Guarantee"), all as specified in this Section below. Guarantee shall be issued by a first class bank approved in advance by ISR. 17.2 16.2 No later than fourteen (14) Business Days following the date of the Purchase Order, Supplier shall furnish ISR with an irrevocable autonomous Guarantee, approved in advance by ISR and issued in the form attached hereto as Appendix E in the amount equal to 1,000,000 Euro ten percent (10%) of the Led Lights Price, valid until two (2) months following the end of the Warranty Period for the last Goods supplied under this AgreementPeriod. Until Supplier shall have issued the Guarantee as per the above, the Bid Guarantee shall serve as the Guarantee for any and all purposes. If ISR elects to exercise its rights set forth in 16.1, Supplier shall ensure that Guarantee remains valid until two months following the end of the Warranty Period. 17.3 16.3 Guarantee shall be in the relevant form for such Guarantee attached as Appendix E and shall be denominated in Euros only. Guarantee shall be unconditional and irrevocable bank guarantees, issued by a first-class bank acceptable to ISR at its sole and absolute discretion (which acceptance must be recorded in advance and in writing), to be paid upon first written demand without the need to prove or substantiate the demand. 17.4 16.4 Except as otherwise specified in this Agreement, the timely submission of Guarantee to be furnished by Supplier to ISR under this Agreement is considered pre-requisites for ISR's execution of any payment due to Supplier under this Agreement. 17.5 16.5 Supplier shall maintain the Guarantee valid through their respective times as stipulated in this Section. If sixty (60) days prior to the expiration of Guarantee, Supplier has not completed all of the respective obligations to be performed during the time period secured by such Guarantee, or if such period has been extended, Supplier shall provide, at its own expense, a substitute Guarantee meeting the requirements of this Section, or extend the term of the relevant Guarantee and notify ISR of such extension, failing which ISR shall be entitled, without derogating from any other remedy that may be available to it under the circumstances, to collect from any of the Guarantees, the amount of that Guarantee. 17.6 16.6 Collection on a Guarantee or any part thereof by ISR shall not derogate from the right of ISR to terminate this Agreement, nor from its right to any remedy that may be available to it under any applicable law and/or agreement or relieve Supplier of any of its liabilities and undertakings under this Agreement, including its liability to indemnify ISR.

Performance and Warranty Guarantee. 17.1 To 19.1 In the event that payment shall be made under Option B under Section 16.3, then to secure the punctual, complete and entire performance of all of Supplier's obligations under this Agreement, Supplier will furnish the Performance and Warranty Guarantee (collectively, the "Guarantee"), all as specified in this Section below. Guarantee shall be issued by a first class bank approved in advance by ISR. 17.2 19.2 No later than fourteen (14) Business Days following the date of the Purchase Order5 days from Acceptance Certificate, Supplier shall furnish ISR with an irrevocable autonomous Guarantee, approved in advance by ISR and issued in the form attached hereto as Appendix E H in the amount equal to 1,000,000 Euro ten percent (10%) of the Kits Price, valid until two (2) months following the end of the Warranty Period for the last Goods supplied under this AgreementPeriod. Until Supplier shall have issued the Guarantee as per the above, the Bid Guarantee shall serve as the Guarantee for any and all purposes. 17.3 19.3 Guarantee shall be in the relevant form for such Guarantee attached as Appendix E H and shall be denominated in Euros only. Guarantee shall be unconditional and irrevocable bank guarantees, issued by a first-class bank acceptable to ISR at its sole and absolute discretion (which acceptance must be recorded in advance and in writing), to be paid upon first written demand without the need to prove or substantiate the demand. 17.4 19.4 Except as otherwise specified in this Agreement, the timely submission of Guarantee to be furnished by Supplier to ISR under this Agreement is considered pre-requisites for ISR's execution of any payment due to Supplier under this Agreement. 17.5 19.5 Supplier shall maintain the Guarantee valid through their respective times as stipulated in this Section. If sixty (60) days prior to the expiration of Guarantee, Supplier has not completed all of the respective obligations to be performed during the time period secured by such Guarantee, or if such period has been extended, Supplier shall provide, at its own expense, a substitute Guarantee meeting the requirements of this Section, or extend the term of the relevant Guarantee and notify ISR of such extension, failing which ISR shall be entitled, without derogating from any other remedy that may be available to it under the circumstances, to collect from any of the Guarantees, the amount of that Guarantee. 17.6 19.6 Collection on a Guarantee or any part thereof by ISR shall not derogate from the right of ISR to terminate this Agreement, nor from its right to any remedy that may be available to it under any applicable law and/or agreement or relieve Supplier of any of its liabilities and undertakings under this Agreement, including its liability to indemnify ISR.

Performance and Warranty Guarantee. 17.1 19.1 To secure the punctual, complete and entire performance of all of Supplier's obligations under this Agreement, Supplier will furnish the Performance and Warranty Guarantee (collectively, the "Guarantee"), all as specified in this Section below. Guarantee shall be issued by a first class bank approved in advance by ISR. 17.2 19.2 No later than fourteen (14) Business Days following the date of the Purchase Order, Supplier shall furnish ISR with an irrevocable autonomous Guarantee, approved in advance by ISR and issued in the form attached hereto as Appendix E in the amount equal to 1,000,000 Euro ten percent (10%) of the Battery Chargers Price, valid until two (2) months following the end of the Warranty Period for the last Goods supplied under this AgreementPeriod. Until Supplier shall have issued the Guarantee as per the above, the Bid Guarantee shall serve as the Guarantee for any and all purposes. If ISR elects to exercise its rights set forth in 16.1, Supplier shall ensure that Guarantee remains valid until two months following the end of the Warranty Period. 17.3 19.3 Guarantee shall be in the relevant form for such Guarantee attached as Appendix E and shall be denominated in Euros only. Guarantee shall be unconditional and irrevocable bank guarantees, issued by a first-class bank acceptable to ISR at its sole and absolute discretion (which acceptance must be recorded in advance and in writing), to be paid upon first written demand without the need to prove or substantiate the demand. 17.4 19.4 Except as otherwise specified in this Agreement, the timely submission of Guarantee to be furnished by Supplier to ISR under this Agreement is considered pre-requisites for ISR's execution of any payment due to Supplier under this Agreement. 17.5 19.5 Supplier shall maintain the Guarantee valid through their respective times as stipulated in this Section. If sixty (60) days prior to the expiration of Guarantee, Supplier has not completed all of the respective obligations to be performed during the time period secured by such Guarantee, or if such period has been extended, Supplier shall provide, at its own expense, a substitute Guarantee meeting the requirements of this Section, or extend the term of the relevant Guarantee and notify ISR of such extension, failing which ISR shall be entitled, without derogating from any other remedy that may be available to it under the circumstances, to collect from any of the Guarantees, the amount of that Guarantee. 17.6 19.6 Collection on a Guarantee or any part thereof by ISR shall not derogate from the right of ISR to terminate this Agreement, nor from its right to any remedy that may be available to it under any applicable law and/or agreement or relieve Supplier of any of its liabilities and undertakings under this Agreement, including its liability to indemnify ISR.