First Demand Bank Guarantee definition

First Demand Bank Guarantee means the first demand bank guarantee for an amount of Euro 1,500,000 issued by Unicredit in the Agreed Form;
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First Demand Bank Guarantee means a guarantee delivered by a reputable international bank, reasonably acceptable to the Purchaser, to cover all obligations of the Sellers pursuant to this Agreement. The First Demand Bank Guarantee shall be issued at the latest on the Closing Date and shall be limited to the amount of € 39,000,000.00 (in words: Euro thirty nine million). The Guarantee shall be enforceable for a period of three years and three months from the Closing Date. If at such Date there are unresolved disputes between the Parties, the First Demand Bank Guarantee will be extended, in the value of the dispute between the Parties, until final resolution of the dispute between the Parties.
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First Demand Bank Guarantee. Means the Bank Guarantee foreseen in Clause 16.1
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Examples of First Demand Bank Guarantee in a sentence

  • Any payment made pursuant to this subclause 6.4 will decrease the First Demand Bank Guarantee accordingly.

  • The First Demand Bank Guarantee shall be effective for a two-year period starting from Completion (the Final Date).

  • This [Patent][Trademark][Copyright] Security Agreement has been entered into in conjunction with the provisions of the Security Agreement.

  • Indigenous Affairs 2008, at http://www.IWGIA.org/IWGIA_files_publications_files/IA_3-08_Greenland.pdf.

  • All fees and costs of the issuing bank(s) relating to any First Demand Bank Guarantee shall be borne by the Purchaser and shall be paid by the Purchaser promptly upon written demand of the Financial Sellers’ Representative accompanied by the invoice of such bank(s).

  • The Issuing Bank further acknowledges that its obligations under this First Demand Bank Guarantee being autonomous and independent do not constitute a surety obligation (cautionnement).

  • All obligations of the Sellers pursuant to this Agreement shall be covered by the First Demand Bank Guarantee (“Aval a primer requerimiento”), to be provided by Sellers substantially in the form set out in Schedule 16.1.

  • We compare their published distribution with fiscal income we identify across the complete BNPPF sample in table 1 and find that these distributions are largely the same.Table 1: Comparison between the fiscal income distri- bution of StatBel with the total labour income distribu- tion for all clients in the BNPPF dataset of 2019.

  • With respect to transfers and assignments made as considered above, this First Demand Bank Guarantee will not be deemed to be entered into in consideration of the identity of the Beneficially (“intuitu personae”).

  • The New First Demand Bank Guarantee shall be effective upon occurrence of the earlier of (a) the expiration of a two years term or (b) the date of final settlement of the relevant Claim.


More Definitions of First Demand Bank Guarantee

First Demand Bank Guarantee means the first demand bank guarantee for an amount of Euro 1,500,000 issued by Unicredit in the Agreed Form; “Flagship” has the meaning given in Recital (A); “Flagship Shares” means the shares representing 100% of Flagship’s corporate capital; “Independent Accountants” means the accountants to be appointed by the President of Ordine Dottori Commercialisti di Milano upon request of the most diligent Party; “Initial Purchase Price” means Euro 12,500,000; “Insolvency Act” means the English law Insolvency Xxx 0000 as amended and supplemented from time to time; “Investors” has the meaning given in Clause 14.2; “Joint Instructions” means the written instructions jointly given by the Sellers and the Purchaser to Unicredit to act at Completion as an escrow agent in the interest of both Parties in the Agreed Form; “Loan Agreements” means the loan agreements between (i) Mediocredito Regionale Xxxxxxxx (currently Banca Intesa S.p.A.) and Snoline dated 30 May 1997, (ii) Credito Artigiano S.p.A. and Finlombarda – Finanziaria per lo Sviluppo della Lombardia S.p.A., on one side, and Snoline, on the other side, dated 24 May 2002, (iii) Banca Intesa S.p.A. and Snoline dated 29 June 2005 and (iv) Banca Popolare di Bergamo S.p.A. and Snoline dated 30 January 2004; “Material Adverse Effect” means any change, effect or set of circumstances (including, but not limited to, any breach of covenant, breach or inaccuracy of any representation or warranty contained in this agreement) relating to the Companies (regardless of whether foreseeable at the time of the Parties’ execution of this agreement) that, individually or in the aggregate, is materially adverse to the Companies, provided that the liability or the reduction in the value of the Companies caused by such material adverse effect has, or will have, a value equal to or greater than Euro 1,200,000 in the aggregate; “New First Demand Guarantee” has the meaning given in Clause 7; “Pro-forma Financial Statements” means Snoline’s pro-forma interim financial statements as of 30 September 2006 attached to the present Contract as Schedule 13. “Properties” means [the properties shortly described in schedule 4 and includes every part of each of them] and “Property” means any one of them; “Purchase Price” means the Initial Purchase Price adjusted pursuant to clause 6; “Purchaser” has the meaning given in the heading; “Purchaser’s Group” means any entity that, at the time of the determination, directly or indirectly, through one or mor...
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First Demand Bank Guarantee has the meaning ascribed to it in Clause 3.3.
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First Demand Bank Guarantee shall have the meaning set forth in Section 2.8.
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Related to First Demand Bank Guarantee

  • Bank Guarantee means an irrevocable and unconditional undertaking by a trading bank approved by the Council to pay the Development Contribution amount on demand without an expiry or end date and containing terms and conditions acceptable to Council and in accordance with clause 9 of this Agreement;

  • Performance Bank Guarantee means the irrevocable unconditional bank guarantee to be submitted by the successful bidder as per the RfS.

  • Fronted Letter of Credit means a standby Letter of Credit issued by an Issuing Lender having an L/C Fronting Commitment in which each Lender purchases a risk participation pursuant to Section 3.4.

  • Peak Demand means the maximum Metered Demand in the last 12 months;

  • Extended Letter of Credit has the meaning given that term in Section 2.3.(b).

  • Facility Letter of Credit means a Letter of Credit issued hereunder.

  • Letter of Credit Facility means, at any time, an amount equal to the amount of the Issuing Bank's Letter of Credit Commitment at such time, as such amount may be reduced at or prior to such time pursuant to Section 2.05.

  • Auto-Extension Letter of Credit has the meaning specified in Section 2.03(b)(iii).

  • LOC means the entity awarded the Championships and entering into this Agreement, having executed the Attached Bid.

  • Facility LC Application is defined in Section 2.19.3.

  • Standby Letter of Credit Agreement means the Standby Letter of Credit Agreement relating to the issuance of a Standby Letter of Credit in the form from time to time in use by the L/C Issuer.

  • Replacement Letter of Credit means any letter of credit issued pursuant to a Replacement Revolving Facility.

  • Acceptable Letter of Credit means a standby letter of credit, issued by a bank or financial institution acceptable to Bank in its Permitted Discretion, in form and substance satisfactory to Bank in its Permitted Discretion, in an amount equal to 105% of the Letter of Credit Usage, naming Bank as beneficiary to reimburse payments of drafts drawn under outstanding Letters of Credit.

  • Request for Letter of Credit means a written request for a Letter of Credit substantially in the form of Exhibit H, signed by a Responsible Official of Borrower, and properly completed to provide all information required to be included therein.

  • Evergreen Letter of Credit has the meaning set forth in Section 2.01.

  • Facility Letter of Credit Obligations means, as at the time of determination thereof, all liabilities, whether actual or contingent, of the Borrower with respect to Facility Letters of Credit, including the sum of (a) the Reimbursement Obligations and (b) the aggregate undrawn face amount of the then outstanding Facility Letters of Credit.

  • Commercial Letter of Credit means any letter of credit or similar instrument issued for the purpose of providing the primary payment mechanism in connection with the purchase of any materials, goods or services by Company or any of its Subsidiaries in the ordinary course of business of Company or such Subsidiary.

  • Irrevocable Letter of Credit means an irrevocable letter on the financial institution’s standard form containing a request that the party to whom it is addressed pay the bearer or a person named therein money as a result of failure to perform or fulfill all the covenants, undertakings, terms, conditions and agreements contained in a contract.

  • U.S. Letter of Credit means any Letter of Credit issued hereunder for the purpose of providing credit support for any U.S. Borrower, any Domestic Subsidiary or any Foreign Subsidiary.

  • Letter of Credit Obligation means, as of any date of determination, the aggregate amount available to be drawn under all outstanding Letters of Credit on such date (if any Letter of Credit shall increase in amount automatically in the future, such aggregate amount available to be drawn shall currently give effect to any such future increase) plus the aggregate Reimbursement Obligations and Letter of Credit Borrowings on such date.

  • Letter of Credit means any letter of credit issued hereunder. A Letter of Credit may be a commercial letter of credit or a standby letter of credit.

  • Auto-Renewal Letter of Credit has the meaning specified in Section 2.03(b)(iii).

  • Dollar Letter of Credit means a Letter of Credit denominated in Dollars.

  • Letter of Credit Guaranty means one or more guaranties by the Administrative Agent in favor of the L/C Issuer guaranteeing or relating to the Borrowers' obligations to the L/C Issuer under a reimbursement agreement, Letter of Credit Application or other like document in respect of any Letter of Credit.

  • Facility Letter means, in relation to any Facilities, such facility letters from Citibank to me or any agreement, document or instrument or arrangement from time to time made between Citibank and me relating to such Facilities, whether they are expressed to be subject to the Terms or otherwise.

  • Financial Letter of Credit means any Letter of Credit other than a Performance Letter of Credit.