GIEK Guarantee definition

GIEK Guarantee means the guarantee issued or to be issued by GIEK in favour of Eksportfinans pursuant to which GIEK has guaranteed or will guarantee the payment to Eksportfinans of 100 per cent of the Eksportfinans GIEK Facility Loan in circumstances therein specified and on the GIEK Conditions.

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GIEK Guarantee means the buyer’s credit guarantee, including the GIEK Conditions, to be issued by GIEK in favour of the Eksportfinans Lenders covering the Eksportfinans Loans.

GIEK Guarantee means guarantee policy no.101612, as amended at any time, which, subject to its terms, will be issued by GIEK in favour of Eksportfinans to guarantee the payment obligations of the Borrower in relation to Loan A, limited, however, always to USD 56,000,000,- plus any interest, fees and expenses under Loan A.

Examples of GIEK Guarantee in a sentence

It is not in breach of the GIEK Conditions pursuant to which the GIEK Guarantee was or will be issued.
The GIEK Premium (or any part thereof) shall not be refundable except in accordance with the terms of the GIEK Guarantee and GIEK’s internal regulations.
The Borrower shall on the GIEK Final Maturity Date repay to the Facility Agent the GIEK Final Payment, together with all interest and other amounts payable under this Agreement, the Facility Documents and the GIEK Guarantee due to the GIEK Facility Lenders.
Nothing in this Agreement shall be construed as to constitute the GIEK Guarantee Holder as trustee or fiduciary for any other person, and the GIEK Guarantee Holder shall not be bound to account to any Finance Party for any sum or the profit element of any sum received by it for its own account.
To the extent that GIEK and K-sure consents to any amendments to the GIEK Guarantee and/or the K-sure Insurance Policy, respectively, the GIEK Lender and the K-sure Lenders shall seek to obtain written confirmations from GIEK and K-sure, respectively, evidencing such consents, such confirmations to be forwarded to the Agent.
For each instalment paid pursuant to Clause 6.1 above, GIEK’s obligations under the GIEK Guarantee shall be reduced accordingly subject always to the provisions of the GIEK Guarantee.
The Borrower shall pay to the Agent (for distribution to GIEK) a guarantee commission of 1.75% per annum of the outstanding amounts under the GIEK Guarantee, payable semi-annually in arrears, the first time6 months after the Drawdown Date.
The GIEK Guarantee has been issued and is in full force and effect.
GIEK and/or K-sure shall by such subrogation have the same rights as relevant thereunder as if the Finance Documents were executed directly in favour of GIEK and/or K-sure as security for the rights of GIEK and/or K-sure against the Obligors, after having honoured claims under the GIEK Guarantee and/or the K-sure Insurance Policy, respectively.
The Agent and the GIEK Guarantee Holder may accept deposits from, lend money to and generally engage in any kind of banking or other business with the Obligors.

More Definitions of GIEK Guarantee

GIEK Guarantee means each of

GIEK Guarantee means the guarantee issued or to be issued in favour of the GIEK Agent and/or the GIEK Facility Lenders pursuant to which GIEK has guaranteed or will guarantee the GIEK Facility Commitment of each GIEK Lender, together with, as the context may require, the “Offer for Guarantee Policy Buyer Credit Guarantee No 300670”, in each case on terms agreed between the GIEK Facility Lenders, the GIEK Agent and GIEK. GIEK Loan means a loan made or to be made under the GIEK Facility or the principal amount outstanding for the time being of that loan.

GIEK Guarantee means (i) the guarantee issued or to be issued by GIEK in favour of the Export Credit Lender securing the repayment of Export Credit Tranche and other sums due and payable to the Export Credit Lender under this Agreement and (ii) the General Conditions Buyer Credit Guarantee (December 2006 version) from GIEK.

GIEK Guarantee means either of, and “GIEK Guarantees” means collectively, both of the ▇▇▇▇ ▇▇▇▇▇▇ Guarantee and the GIEK Sharav Guarantee;