Common use of Replenishment of the Guarantee Clause in Contracts

Replenishment of the Guarantee. If the guarantee is drawn upon, the Team must replenish the guarantee to its full amount within 30 days by sending good funds to USAC. If the Team fails to replenish the funds within 30 days, it shall be automatically suspended. Return of Guarantee. USAC will begin the withdrawal process to return the guarantee with any interest to the Team on March 31st of the year following the Team’s last year as a Continental Team. If the team will remain a Continental Team the following year, but its required guarantee is less than the amount currently held, USAC will remit the difference to the Team on/after March 31st.

Replenishment of the Guarantee. If the guarantee is drawn upon, the Team must replenish the guarantee to its full amount within 30 days by sending good funds to USAC. If the Team fails to replenish the funds within 30 days, it shall be automatically suspended. Return of Guarantee. USAC will begin the withdrawal process to return the guarantee with any interest to the Team on March 31st of the year following the Team’s last year as a Continental TeamUWT. If the team will remain a Continental Team UWT the following year, but its required guarantee is less than the amount currently held, USAC will remit the difference to the Team on/after on March 31st.

Replenishment of the Guarantee. If the guarantee is drawn upon, the Team must replenish the guarantee to its full amount within 30 days by sending good funds to USAC. If the Team fails to replenish the funds within 30 days, it shall be automatically suspended. Return of Guarantee. USAC will begin the withdrawal process to return the guarantee with any interest to the Team on March 31st of the year following the Team’s last year as a Continental TeamUWT. If the team will remain a Continental Team UWT the following year, but its required guarantee is less than the amount currently held, USAC will remit the difference to the Team on/after on March 31st.