Examples of Crown Guarantee in a sentence
To avoid doubt, the Crown shall have no liability at any point in time under the Crown Guarantee to a Person who is not, at that time, a Creditor (whether or not that Person was previously a Creditor).
Creditor has the meaning given in clause 1.3. Crown Guarantee means the Crown guarantee in clause 2.2 of this Deed.
The Parties acknowledge that the offering or entering into of this Deed does not in any respect restrict any regulatory or supervisory action by the Reserve Bank of New Zealand or any action the Crown may take, including but not limited to extending the term of the Crown Guarantee or not extending the term of the Crown Guarantee and offering a guarantee to any person whether under the same terms or different.
Guaranteed Amount means, in respect of any date, the maximum amount for which the Crown would be liable on that date under the Crown Guarantee, in accordance with the terms of this Deed, if all Indebtedness existing on that date was (and had been, for 15 days) due and payable and was not paid by the Principal Debtor.
If the Crown for any other reason considers it appropriate to do so, it may withdraw the Crown Guarantee by written notice to the Principal Debtor.
If the Principal Debtor fails to so rectify that failure within the 14 day period referred to in clause 5.1(d) the Crown may give public notice that the Crown Guarantee is withdrawn on the date of that notice (or will be withdrawn at such later date as may be specified in that notice).
This Deed does not replace the Initial Deed in relation to the period prior to the withdrawal of the Initial Crown Guarantee under the Initial Deed or in relation to the continuing rights and obligations of the Crown and the Principal Debtor under the Initial Deed subsequent to that withdrawal.
If the Principal Debtor fails to so rectify that failure or supply within the 14 day period referred to in clause 4.4(a)(ii) the Crown may give public notice that the Crown Guarantee is withdrawn on the date of that notice (or will be withdrawn at such later date as may be specified in that notice).
Randolph abbreviates these degrees as B.A., B.S., and B.F.A. All degree abbreviations should use periods after each letter.
On the day of (or, as the case may be, the date specified in) a notice given by the Crown under clause 10.3 or 10.4, the Crown Guarantee is withdrawn in respect of all obligations which arise under any Debt Security issued following the date of withdrawal and such obligations shall not be covered by the Crown Guarantee, and the provisions of clause 10.6 shall apply in respect of all such obligations.