REFUND GUARANTEE. The BUILDER shall deliver to the BUYER by hard copy or by SWIFT through the BUYER's bank an assignable letter of guarantee issued by the Hana Bank or any other bank acceptable to the BUYER for the refund of the pre-delivery instalments plus interest as aforesaid to the BUYER under or pursuant to Paragraphs 5 and 6 above in the form annexed hereto as Exhibit "A". All expenses in issuing and maintaining the letter of guarantee described in this Paragraph shall be borne by the BUILDER. In case of SWIFT, the BUYER shall advise the BUILDER of the details of the BUYER's bank including the SWIFT address upon execution of this CONTRACT.
REFUND GUARANTEE. The Refund Guarantee was issued by authenticated SWIFT message to the Bank Account. No originals of the Refund Guarantee are held by the Transferor. Copies of the Refund Guarantee are included in the Data Room CD-Rom (please see document 5.1.3 of the attached index).
REFUND GUARANTEE. The BUILDER shall, within thirty (30) days following the execution of this CONTRACT, furnish the BUYER (and prior to the payment of the first instalment) with an assignable letter of guarantee issued by NH BANK via SWIFT for the assurance of and as security for the refund of the pre-delivery instalments under or pursuant to Paragraph 5 and/or Paragraph 6 above plus interest accrued thereon in accordance with this CONTRACT in the form and substance as annexed hereto as Exhibit “A”. All expenses in issuing and maintaining the letter of guarantee described in this Paragraph shall be borne by the BUILDER. If the BUILDER fails to provide the Refund Guarantee within thirty (30) days after the date of this CONTRACT, the BUYER shall be entitled to terminate this Contract with immediate effect by written notice to the BUILDER.
REFUND GUARANTEE. The BUILDER shall deliver to the BUYER by hard copy or by SWIFT through the BUYER’s bank, acceptable to the BUILDER, an assignable letter of guarantee issued by a Bank acceptable to the Buyer as soon as possible but in any case no later than Ninety (90) days from the date of this CONTRACT for the refund of the pre-delivery instalments plus interest as aforesaid to the BUYER under or pursuant to Paragraph 5 above in the form annexed hereto as Exhibit “A”. All expenses in issuing and maintaining the letter of guarantee described in this Paragraph shall be borne by the BUILDER. In case of SWIFT, the BUYER shall advise the BUILDER of the details of the BUYER’s bank including the SWIFT address upon execution of this CONTRACT.
REFUND GUARANTEE. Shortly prior to the Seller’s receipt of each of the First, Second, Third, and Fourth Instalment referred to in Article II (Contract Price and Terms of Payment) of this Contract, as security for refund of instalments paid prior to the delivery of the Vessel, the Seller shall furnish the Buyer with the original of an assignable letter of guarantee (the “Refund Guarantee”) in the form of Exhibit “C” attached hereto issued by one of the first class Japanese Banks to be accepted by the Buyer in favour of the Buyer guaranteeing the Seller’s refund to the Buyer of the relevant pre-delivery instalment and interest payable thereon in case of contingencies as described in this Article. Each Refund Guarantee shall cover the relevant pre-delivery instalment plus interest accrued thereon as described in this Article and shall remain in full force and effect throughout the duration of the Contract from the date such Refund Guarantee is issued until:
(a) receipt by the Buyer of all sums together with interest accrued thereon guaranteed by the said Refund Guarantee; or
(b) upon acceptance by the Buyer of the delivery of the Vessel at the Shipyard in accordance with the terms of this Contract, whichever comes earlier and in such event the Refund Guarantee shall be promptly returned to the Seller. If for whatsoever reason, other than the Buyer’s default under Article XI hereof, any of the Refund Guarantees ceases to be in full force and effect, or the issuing bank’s financial condition deteriorates, the Seller shall have the obligation to deliver to the Buyer within ten (10) Business Days from the date on which such Refund Guarantee ceased to be in full force and effect or the issuing bank’s financial condition deteriorated, a substitute letter of guarantee issued by a bank acceptable to the Buyer and being in a form and substance acceptable to the Buyer. In the event that the Seller fails to deliver to the Buyer such substitute letter of guarantee as aforesaid, the Buyer shall be entitled to rescind the Contract in accordance with the provisions of this Article X. The costs for obtaining and maintaining the Refund Guarantee and any substitute thereof shall be paid by the Seller on behalf of the Buyer, provided however that the Seller shall have no obligation to cover such costs until it receives sufficient funds from the Buyer in order to pay the same (and for which prior notice will be given to the Buyer by the Seller) and provided also however that the Seller shall be r...
REFUND GUARANTEE. As security for refund of the instalments of the CONTRACT PRICE payable prior to delivery of the VESSEL, the BUILDER shall furnish the BUYER at least three (3) business days prior to the payment of the first instalment with a letter of guarantee of a Korean bank acceptable to the BUYER, covering the amount of the predelivery instalment(s) plus interest in favour of the BUYER. Such letter of guarantee shall have substantially the same form and substance as Exhibit A annexed hereto. The transfer and other bank charges of such refund shall be for the BUILDER’s account. The interest rate of the refund, as above provided shall be five per cent (5.0%) per annum from the date following the date of receipt by the BUILDER of the pre-delivery instalment(s) to the date of remittance by telegraphic transfer of such refund. If the BUILDER is required to refund to the BUYER the instalment(s) paid by the BUYER to the BUILDER as provided in this Paragraph, the BUILDER shall return to the BUYER all of the BUYER’s SUPPLIES as stipulated in Article XII which were not incorporated into the VESSEL and pay to the BUYER an amount equal to the cost to the BUYER of those supplies incorporated into the VESSEL.
REFUND GUARANTEE. The BUILDER shall send a copy of the Refund Guarantee by facsimile before payment of the 1st installment by the BUYER, and deliver to the BUYER by hard copy, or by SWIFT through the BUYER’s bank, acceptable to the BUILDER, an assignable letter of guarantee issued by Calyon, Seoul Branch for the refund of the pre-delivery instalments plus interest as aforesaid to the BUYER under or pursuant to Paragraph 5 above in the form annexed hereto as Exhibit “A”. All expenses in issuing and maintaining the letter of guarantee described in this Paragraph shall be borne by the BUILDER. In case of SWIFT, the BUYER shall advise the BUILDER of the details of the BUYER’s bank including the SWIFT address upon execution of this CONTRACT.
REFUND GUARANTEE. The Builder shall, as a condition precedent to the payment of the first instalment, deliver to the Buyer an assignable and irrevocable Letter of Guarantee, in the form annexed hereto as Exhibit “A”, issued by a first Korean bank acceptable to the Buyer and/or Buyer’s bank for the refund of the instalments before delivery to the Buyer under or pursuant to Paragraph (f) above plus interest as aforesaid. All expenses in issuing and maintaining such Letter of Guarantee shall be borne by the Builder.
REFUND GUARANTEE. 4.3.1 If the employment of a Permanent Worker is lawfully terminated for any reason other than death, illness or redundancy, within a period of 12 weeks (including notice period) from the date of commencement of employment, the Employment Business will refund the Client in accordance with 4.5.3 below provided that:
(i) The Client notifies the Employment Business within 7 days of such termination and;
(ii) All monies due by the Client to the Employment business have been paid in accordance with this Agreement.
4.3.2 Should the Client, its subsidiary, parent or associated company re engage the Permanent Worker within a 6 month Period a full Introduction Fee in accordance with clause 7 will be payable.
4.3.3 The Employment Business guarantees to refund a proportion of the Introduction Fee as follows: Weeks 1 to 2 (inclusive) – 100% Weeks 3 to 4 (inclusive) – 75% Weeks 5 to 6 (inclusive) – 50%
REFUND GUARANTEE. Evidence satisfactory to the Facility Agent that the amount payable under the Refund Guarantee is at least equal to the amount of the first Advance.
