Common use of Term of Guarantee Clause in Contracts

Term of Guarantee. 1. The term of guarantee shall be two years beginning from the maturity date for repayment obligation of the Debtor under the Main Contracts. 2. For bank acceptance, L/C issuance and letter of indemnity, the term of guarantee shall be two years beginning from the date of advance by the Creditor. 3. For acceptance of commercial draft discount, the term of guarantee shall be two years beginning from the expiry date of the commercial draft. 4. If the Creditor and the Debtor have reached an agreement on the extension of the term of performance of the indebtedness under the Main Contracts, the Guarantor shall continue to undertake the guarantee obligation. The term of guarantee shall be two years beginning from the termination of the extended term of performance of the indebtedness as specified in the said agreement. 5. In case of a circumstance as regulated in the relevant laws or regulations as specified in the Main Contracts which has led the Creditor to declare pre-maturity of the indebtedness under the Main Contracts, the term of guarantee shall be two years beginning from the date of the pre-maturity of the indebtedness as demanded by the Creditor.

Term of Guarantee. 1. The term of guarantee shall be two years beginning from the maturity date for of Debtor’s repayment obligation of the Debtor under the Main ContractsContract. 2. For bank the xxxx acceptance, L/C issuance deduction and letter of indemnityexemption guarantee, the term of guarantee shall be two years beginning from the date of advance by the Creditor. 3. For acceptance of the commercial draft discountdiscount draft, the term of guarantee shall be two years beginning from the expiry date of the commercial draft. 4. If the Creditor and the Debtor have reached an agreement on the extension of the term of performance of the indebtedness under the Main ContractsContract, the Guarantor shall continue to undertake the guarantee obligation. The term of guarantee shall be two years beginning from the termination of the extended term of performance of the indebtedness as specified in the said agreement. 5. In case of a circumstance as regulated in the relevant laws or regulations as or specified in the Main Contracts Contract which has led leads the Creditor to declare pre-maturity of the indebtedness under the Main ContractsContract, the term of guarantee shall be two years beginning from the date of the pre-maturity of the indebtedness as demanded by the Creditor.