Refund Guarantees Clause Samples

Refund Guarantees the original executed copy of each Refund Guarantee delivered or to be delivered to the Bank pursuant to clause 9 is, or will when delivered be, a true and complete original of such document; each such document will, when delivered, constitute valid and binding obligations of the relevant Refund Guarantor enforceable in accordance with its terms and there will have been no amendments or variations thereof or defaults thereunder; and

Refund Guarantees. (a) On (i) the Tranche A Initial Borrowing Date, the Refund Guarantee for the Pre-delivery Installment in respect of Vessel 1 to be paid on the Initial Borrowing Date (under and as defined in the Breakaway One Facility) shall have been issued and assigned to the Collateral Agent pursuant to the Vessel 1 Assignment of Contracts (or, if such Refund Guarantee is issued by KfW IPEX-Bank GmbH, the Vessel 1 Assignment of KfW Refund Guarantees) and (ii) on each other Tranche A Borrowing Date other than the Vessel 1 Delivery Date, any additional Refund Guarantees for Vessel 1 that have been issued since the Tranche A Initial Borrowing Date shall have been assigned to the Collateral Agent by delivering a supplement to the relevant schedule to the Vessel 1 Assignment of Contracts (or, in the case of Refund Guarantees issued by KfW IPEX-Bank GmbH, a supplement to the relevant schedule of the Vessel 1 Assignment of KfW Refund Guarantees) to the Collateral Agent with the updated information, in each case along with (to the extent incorporated in or required by the Vessel 1 Assignment of Contracts) an appropriate notice and consent relating thereto, and the Joint Lead Arrangers shall have received reasonably satisfactory evidence to such effect. Each Refund Guarantee shall secure a principal amount equal to (x) the amount of the corresponding Pre-delivery Installment to be paid by Breakaway One to the Yard minus (y) the amount paid by the Yard to Breakaway One in respect of the corresponding Pre-delivery Installment under Article 8, Clause 2.8(i), (ii), (iii) or (iv) as the case may be, of the Vessel 1 Construction Contract pursuant to the terms of each Refund Guarantee, and the Joint Lead Arrangers shall have received reasonably satisfactory evidence to such effect. (b) On (i) the Tranche B Initial Borrowing Date, the Refund Guarantee for the Pre-delivery Installment in respect of Vessel 2 to be paid on the Initial Borrowing Date (under and as defined in the Breakaway Two Facility) shall have been issued and assigned to the Collateral Agent pursuant to the Vessel 2 Assignment of Contracts (or, if such Refund Guarantee is issued by KfW IPEX-Bank GmbH, the Vessel 2 Assignment of KfW Refund Guarantees) and (ii) on each other Tranche B Borrowing Date other than the Vessel 2 Delivery Date, any additional Refund Guarantees for Vessel 2 that have been issued since the Tranche B Initial Borrowing Date shall have been assigned to the Collateral Agent by delivering a supplement ...

Refund Guarantees. Refund guarantee letter from The Export-Import Bank of Korea dated 26 July 2007, originally granted in favour of Pamol Shipping Ltd., and now in favour of Pacific Bora Ltd.

Refund Guarantees originals of or, if issued by way of SWIFT message, copies of the Refund Guarantees, in a form and substance acceptable to the Lenders. (a) Conditions precedent

Refund Guarantees. The Borrower shall have delivered to the Facility Agent a true and complete copy of each Refund Guarantee and the respective Refund Guarantor(s) shall be acceptable to the Facility Agent in its sole discretion.

Refund Guarantees the Administrative Agent shall have received (i) in the case of an Advance under Tranche A, a copy of the relevant Tranche A Refund Guarantee, in form and substance satisfactory to the Lenders in all respects together with evidence satisfactory to the Administrative Agent that such Tranche A Refund Guarantee has been novated to, or assigned to, the Borrower or a new refund guarantee, in form and substance satisfactory to the Lenders in all respects, has been entered into in favor of the Borrower; and (ii) in the case of an Advance under Tranche B, a copy of the Refund Guarantee, in form and substance satisfactory to the Lenders in all respects, provided that, in either case, if any Refund Guarantee has been entered into on terms and conditions substantially identical to those previously accepted by the Administrative Agent pursuant to this Section 4.3(a), such documents shall be considered satisfactory in form and substance to the Administrative Agent for purposes of this Section 4.3 (a);

Refund Guarantees. 9.1 the original of the Refund Guarantee issued in connection with the second or (as the case may be) third instalment of the Contract Price of the Borrower’s Ship to be financed by such Second Advance or (as the case may be) Third Advance; and 9.2 the relevant Refund Guarantee Assignment Consent and Acknowledgement for each such Refund Guarantee duly executed;

Refund Guarantees. 9.1 the original of the Refund Guarantee issued in connection with the first instalment of the Contract Price of the Borrower’s Ship to be financed by such First Advance; and 9.2 the relevant Refund Guarantee Assignment Consent and Acknowledgement for such Refund Guarantee duly executed; evidence that each of the Collateral Ships:

Refund Guarantees. 3.1 It is a condition of the following guarantees, that Client must both pay Sparta Global’s Fee within the agreed terms (including but not limited to clause 2.1.4 above) and must notify Sparta Global in writing of the termination of the Engagement within 7 working days of its termination. 3.2 If the Engagement terminates before the expiry of the rebate periods set out in clause 7 below, except through redundancy, restructuring or a material change of the role offered, the Fee will be rebated subject to the terms of clause 7. 3.3 Should Client or any Associated Company of Client subsequently re-engage the Candidate within the period of 12 calendar months from the date of termination of the Engagement or withdrawal of the offer, an amount equal to the Fee calculated in accordance with Clause 2.4 shall become immediately payable, with no entitlement to any rebate or refund. 3.4 If the Engagement is terminated, but Client does not replace the Candidate or within the rebate period, fills the role by other means, then the full Fee is payable.