Third party guarantee Sample Clauses
A third party guarantee clause establishes that an individual or entity, not originally part of the main contract, agrees to be responsible for fulfilling the obligations of one of the contracting parties if they default. In practice, this means that if the primary party fails to pay a debt or perform a duty, the guarantor must step in to satisfy those obligations, such as covering unpaid loans or completing unfinished work. The core function of this clause is to provide additional security and assurance to the beneficiary, reducing the risk of non-performance or non-payment.
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Third party guarantee. The Lessee guarantees the Lessor the commitment of a Belgian bank. called the "guarantor" to deliver to the Lessor, within the limits of the guarantee, any amounts owed by the Lessee in execution of the lease contract and the consequences thereof by presentation of: either an agreement between the parties, or a court decision even rendered by default and not res judicata Or the report of an expert appointed by the parties or, failing that, by the Court. This warranty obligation ceases within six months after the end of the lease, unless the Lessor demands its application by registered letter to the guarantor before the expiry of that period.
Third party guarantee. 10.1 The Purchaser shall use its reasonable endeavours to ensure that, at Closing, Partnerships in Care Group Limited is released in full from the guarantee given to Northumberland Tyne and Wear NHS Trust, pursuant to a deed of guarantee dated on or around 19 Aril 2010 (Tender Reference: CON/091/RX4, OJEU Reference: 2009-07925) (the Guarantee).
10.2 Pending release of the Guarantee, the Purchaser shall indemnify the Seller, the RBS Seller and each of their respective Affiliates against any and all claims arising after Closing under the Guarantee.
Third party guarantee. As the Lessee makes a more substantial investment at the beginning, the term of the lease is rather long, and the leased land and premises have been mortgaged, the Lessee is therefore subject to more risk than the Lessor. Hence, besides the mortgage, the Lessor shall provide third-party guarantee to the Lessee, Shandong Yuhe Food Group Co., Ltd shall be the guarantor of the Lessor in connection with the execution of this Agreement. The guarantee agreement shall be entered into by the three parties respectively.
Third party guarantee. Neither the formalisation of this Contract nor the rights and obligations arising therefrom shall be used by the Borrower or the Guarantors to guarantee part or all of their present or future income or assets in favour of third parties.
Third party guarantee. The Company has not provided any guarantee for any obligation of others or incurred any financial or other obligation to become a party to any mortgage, pledge, guarantee, indemnity or other agreement, or assumed any liabilities thereunder (including but not limited to contingent liabilities), or by any other means imposed limitations of rights upon the Company, the Equity Interest or any asset of the Company or incurred any debts, obligations or liabilities as a result of the limitations so imposed.
Third party guarantee. On or before the Effective Date, Lessee shall provide a Third Party Guaranty of Lease, signed by Safe Harbor Development, LLC d/b/a Safe Harbor Development FL, LLC, in a form substantially the same as Exhibit D, attached hereto.