Examples of Facility Guarantee in a sentence
MIGA may invest the amounts received from Drawdowns made by Participants pending their commitment to backstop Facility Guarantee Contracts in accordance with its policies for the investment of trust funds.
After the Facility has been fully implemented or terminated in accordance with Section 9.03 of this Agreement in accordance with the Framework Agreement and all outstanding Facility Guarantee Contracts expire, each Participant’s Drawdown Statement will be finally adjusted in accordance with Section 5.02.
Without prejudice to their rights and obligations under this Agreement or under the applicable Financing Agreements, the Participants acknowledge the understandings between MIGA and ADB relating to certain co-insurance arrangements to supplement Facility Guarantee Contracts which are included in an Agreement on Co-operation on Co-insurance Arrangements in relation to the Afghanistan Investment Guarantee Facility between MIGA and ADB.
This Drawdown must be equal to the lesser of (i) the Participant’s Remaining Contribution; or (ii) the Participant’s allocable share of the aggregate amount required to backstop a Facility Guarantee Contract by applying the Pro-Rata Formula.
When issuing a withdrawal notice under sub-section (a), above, MIGA will also provide each Participant with any relevant documents and other satisfactory evidence, including Host Country Approvals, for Facility Guarantee Contracts with respect to which a Drawdown is requested.