Guaranty definition
Examples of Guaranty in a sentence
The ICT Guaranty tendered by the SSO Supplier to satisfy the ICT requirement arising under this Section 5.4 shall be a separate guaranty from the Total Exposure Amount Guaranty, if any, tendered by the SSO Supplier to satisfy any requirement for a Credit Limit to cover the Total Exposure Amount arising under Section 5.6; provided, however, that a single Guaranty may be provided if such Guaranty is for an unlimited amount.
The ICT granted to the SSO Supplier will not exceed the amount of the ICT Guaranty.
Conversely, if, during the term of this Agreement, the Credit Rating of the Provider Guarantor is upgraded, then the Guaranty Cap and the Base Security amounts applicable to the Provider shall be those reflecting the improved Credit Rating.
This Guaranty is made by Guarantor in consideration for, and as an inducement for the Guaranteed Party to enter into, the Agreement entered into with the Seller pursuant to the RFP.
This Guaranty is intended to be and shall be construed to be a continuing, absolute and unconditional guaranty, and shall remain in full force and effect until all Obligations have been fully and finally performed, at which point it will expire.