Period of Suretyship. 4.1 The period of suretyship that Party A bears suretyship liability shall be two years from the date determined according to the following method: 4.1.1 If the expiry date of the performance period of a debt is earlier than or equals to the date of determination of the creditor’s rights guaranteed, the period of suretyship that Party A bears suretyship liability for the debt shall be from the date of determination of the creditor’s rights guaranteed; 4.1.2 If the expiry date of the performance period of a debt is later than the date of determination of the creditor’s right guaranteed, the period of suretyship that Party A bears suretyship liability for the debt shall be from the expiry date of the performance period of this debt. 4.2 The term “expiry date of the performance period of a debt” indicated in the preceding paragraph includes the expiry date of the debt when the Debtor of the Main Contract repays the debt by installments and also includes the expiry date of acceleration announced by the Creditor according to the stipulations of the Main Contract. 4.3 If the business under the Main Contract is a business of letter of credit, bank acceptance bxxx, letter of guarantee or letter of guarantee for the release of goods, the date of advancement shall be deemed as the expiry date of the performance period of the debt.
Appears in 4 contracts
Samples: Maximum Guarantee Contract (Highpower International, Inc.), Maximum Guarantee Contract (Highpower International, Inc.), Maximum Guarantee Contract (Highpower International, Inc.)
Period of Suretyship. 4.1 4.1. The period of suretyship that Party A bears suretyship liability shall be two years from the date determined according to the following method:
4.1.1 4.1.1. If the expiry date of the performance period of a debt is earlier than or equals to the date of determination of the creditor’s rights guaranteed, the period of suretyship that Party A bears suretyship liability for the debt shall be from the date of determination of the creditor’s rights guaranteed;
4.1.2 4.1.2. If the expiry date of the performance period of a debt is later than the date of determination of the creditor’s right guaranteed, the period of suretyship that Party A bears suretyship liability for the debt shall be from the expiry date of the performance period of this debt.
4.2 4.2. The term “expiry date of the performance period of a debt” indicated in the preceding paragraph includes the expiry date of the debt when the Debtor of the Main Contract repays the debt by installments and also includes the expiry date of acceleration announced by the Creditor according to the stipulations of the Main Contract.
4.3 4.3. If the business under the Main Contract is a business of letter of credit, bank acceptance bxxx, letter of guarantee or letter of guarantee for the release of goods, the date of advancement shall be deemed as the expiry date of the performance period of the debt.
Appears in 2 contracts
Samples: Maximum Guarantee Contract (Highpower International, Inc.), Maximum Guarantee Contract (Highpower International, Inc.)
