Guarantee Letter definition
Examples of Guarantee Letter in a sentence
In such a case the Bank, as compared with other creditors, shall acquire priority right to satisfy in the first place, in full and properly, its claim against the Customer regarding the Guarantee, Letter of Credit, Stand-by Letter of Credit and/or Collection Amount, Interest, Commission Fee, Fine and other payables from the abovementioned funds.
In case of payments granted by Guarantee Letter issued by the mother company of ATL, then the mother company will in any case remain liable toward FINC of all obligations of the Assignee deriving from the Contract , and these engagements will be contained in a separate documents to be agreed and delivered to FINC before the signature of the assignment.
B) Bank Letter of Guarantee (Letter of Guarantee) In such a case, the Letter of Guarantee must be issued by a Bank or Credit Institution legally operating in a Member State of the European Union or the European Free Trade Association and its content must comply with the template in Annex [3] and/or Annex [4] of the Agreement or their exact translation in the English language.
Should the aforesaid delay exceed three (3) months from the due date, then FINC shall be free to act according to its rights, including the resolution of the present Contract or, in case of payments granted by the Guarantee Letter issued by the Mother Company of ATL, claiming the due payments from the “mother company”.
If the annual Commission Fee is envisaged, it will be calculated based on the rule stipulated for the Interest calculation, while in other cases - on other rule provided for by the General Credit Line Agreement and/or the Bank Guarantee, Letter of Credit and/or Stand-by Letter of Credit Agreement.
RINFRA was, at the relevant time before the Tribunal, apprised of facts which might have raised a suspicion that the signature on the Guarantee Letter was not genuine — in particular, the alleged absence of any copy of the Letter or record of it having been made on ▇▇▇▇▇▇’s end.
Amount of the Commission Fee shall be calculated in the form and periodicity stipulated in the General Credit Line Agreement and/or the Bank Guarantee, Letter of Credit and/or Stand-by Letter of Credit Agreement.
Paragraph 10 of the Guarantee Letter was a provision for the submission of all disputes between the parties to arbitration, seated in Singapore and administered by the Singapore International Arbitration Centre (the “SIAC”).
Amount of the Interest and minimum and maximum amount of the Commission Fee (and/or other amount/form specified by the Agreement) will be defined by the General Credit Line Agreement, while the amount of the Interest and the Commission Fee on the specific Bank Guarantee, Letter of Credit and/or Stand-by Letter of Credit will be reflected in corresponding Bank Guarantee, Letter of Credit and/or Stand-by Letter of Credit Agreement.
That contract did not contain any parent company guarantee clause, which reflected a request from ▇▇ ▇▇▇▇▇▇▇ to SEC on 25 May 2008 seeking the deletion of such a clause.5 8 On the same day, the Guarantee Letter was purportedly executed by ▇▇▇▇▇▇ as guarantor of Reliance UK’s obligations to SEC under the Supply Contract.