Common use of The Bank Clause in Contracts

The Bank. 3.3.1. Is entitled to request from the Guarantor settlement of the Secured Claims without the compulsory enforcement efforts against the Debtor and preliminary warning of the Debtor/Guarantor, if the Debtor’s insolvency is evident and/or the debt has been claimed by the Bank ahead of the term and has not been paid; 3.3.2. ▇▇▇▇▇, at the Guarantor’s request, provide him/her/it with information regarding the Debtor’s debt; 3.3.3. Is entitled to exercise foreclosure on any property or assets of the Guarantor in order to settle the Debtor’s liability.

Appears in 5 contracts

Sources: Joint Guarantee Agreement, Joint Guarantee Agreement, Joint Guarantee Agreement