Common use of Term of the Guarantee Clause in Contracts

Term of the Guarantee. 1. The term of the guarantee provided by the Guarantor is 2 years starting from the expiration of the performance period under the Master Contract. 2. The term of the guarantee under acceptance of commercial bills and issuance of relief margin and letter of credit is 2 years starting from the date on which the Creditor makes such advance payment. 3. The term of the guarantee under discounted commercial bills is 2 years starting from the due date of such bills. 4. If the Creditor and the Debtor extend the performance period of the Master Contract and the Guarantor continues its guarantee, the term of the guarantee is 2 years starting from the expiration of such extension. 5. If the debt under the Master Contract is declared due in advance by the Creditor in accordance with the Master Contract, the term of the guarantee is 2 years starting from such earlier due date.