Examples of Guarantee Amount in a sentence
For the avoidance of doubt, any prior assignment under Section 3.01(a)(ii) above shall be null and void, and such payment under Section 2.01 (Guarantee) shall be treated as a contribution by the Guarantor to the Bank to be applied to the Guarantee Amount under the terms of this Agreement without any corresponding recovery rights by the Guarantor against the Borrower.
Furthermore, in the event of any non-payment by the Borrower and Non-accrual Event that creates an obligation for the Guarantor to make a payment of a Guarantee Amount, the Bank shall have no obligation to exercise any particular remedies against the Borrower, apply any cross-default, cross-suspension, penalty, or sanctions policies, or otherwise take any action under a Covered Loan Agreement in order to facilitate a recovery of any such Guarantee Amounts from the Borrower.
Pursuant to the 2024 HHD Master Agreement, the Group agreed to provide the HHD Master Guarantee, and Hero Time agreed to provide the HHD Counter Guarantee in respect of the HHD Guarantee Amount of up to RMB370 million for the period from 1 January 2025 to 31 December 2027 (both days inclusive) (the “HHD Guarantee Period”).
In the event that Hero Time fails to perform its obligations under the HHD Counter Guarantee, the HHD Pledged Assets may be taken possession by the bank for settling the outstanding bank loans due from Haining Home Direct up to the HHD Guarantee Amount of RMB370.0 million, and any remaining of the Total Pledged Assets Amount will be returned to the Company.
The assets provided by the Group for the HHD Guarantee Amount (the “HHD Pledged Assets”) include land use right which represents certain land in a total gross site area of approximately 212,789 square meters, owned by (Hainan Boao Kasen Real Estate Co., Ltd.*), a non-wholly owned subsidiary of the Company.