Guarantee Facility Agreement definition
Examples of Guarantee Facility Agreement in a sentence
As between the Owner and the Mortgagee, this Deed shall be read together with the Loan and Guarantee Facility Agreement but in case of any conflict between the two instruments, the provisions of the Loan and Guarantee Facility Agreement shall prevail.
Any amount due under this Guarantee shall carry interest after the second Business Day following the date on which the Issuer demands payment of it until it is actually paid, unless interest on that same amount also accrues under the Guarantee Facility Agreement.
The Issuer may assign its rights under and in connection with this Guarantee to the same extent as it may assign its rights under the Guarantee Facility Agreement.
For the avoidance of doubt, (i) after such date no further claim can be made by us or any of the Beneficiaries (as such term is defined in the KfW Guarantees) under any of the KfW Guarantees and (ii) this notice shall not constitute a release of KfW from any obligations based on a claim which is made by us and received by KfW under either of the KfW Guarantees prior to such Guarantee Termination Date (as such term is defined in the KfW Guarantee Facility Agreement).
The Issuer may, for the purpose of claiming or proving in a bankruptcy of an Obligor or any other Security Party, place any sum received or recovered under or by virtue of this Guarantee on a separate suspense or other interest bearing nominal account without applying it in satisfaction of the Obligors’ obligations under the Guarantee Facility Agreement.
In addition, clause 15.4 (currency indemnity) of the Guarantee Facility Agreement shall apply, with any necessary adaptations, in relation to this Guarantee.
The Guarantor shall pay to the Issuer on its demand any amount which the Issuer is required, or agrees, to pay pursuant to any claim by, or settlement with, a trustee in bankruptcy of an Obligor or of another Security Party (or similar person) on the ground that the Guarantee Facility Agreement, or a payment by an Obligor or of another Security Party, was invalid or on any similar ground.
At the same time the obligations of those of the Obligors that are party to the Existing Guarantee Facility Agreement shall be deemed to be fulfilled and be replaced by the obligations of the Obligors in relation to the Guarantee Facility set out in this Agreement.
The Issuer will not need to commence any proceedings under, or enforce any Security Interest created by, the Guarantee Facility Agreement or any other Finance Document before claiming or commencing proceedings under this Guarantee.
The Guarantor agrees with the Issuer to be bound by all provisions of the Guarantee Facility Agreement which are applicable to the Security Parties in the same way as if those provisions had been set out (with any necessary modifications) in this Guarantee.