Examples of EDC Guarantee in a sentence
The EDC Guarantee fee, calculated at 3.15% on the guaranteed balance outstanding, is payable quarterly in advance commencing on the May 22, 2020 acceptance date.
The Parties will use reasonable commercial efforts to negotiate, finalize and cause the Covered Credit Agreement, and the related EDC Guarantee and Limited Vendor Indemnity (Covered Credit Agreement) (each in form and substance satisfactory to each of the Parties in its sole discretion and which contains the principles set out in the Data Room) to be executed and made effective as promptly as practical following the date hereof.
The Covered Credit Facilities are non-recourse to TM Pipeline LP, its subsidiaries or affiliates, or any of their respective property, assets and undertakings, and the lenders’ sole recourse is to the Purchaser under the EDC Guarantee.
As a result of this investment, the aggregate liability of the EDC Guarantors under the EDC Guarantee was reduced to $5.05 million, and Burcon's maximum liability under the EDC Indemnity Agreement has been reduced to $2.24 million.Following the investment by Bunge in Merit Foods in October 2021, Bunge's interest in Merit Foods increased from 25.0% to 28.9% and Burcon's interest in Merit Foods decreased from 33.3% to 31.6%.
The Purchaser shall renew and/or extend each EDC Guarantee not less than 15 days prior to the termination date thereof and shall provide the Lender with written notice upon each such renewal and/or extension confirming the same.