Examples of Guaranty Letter of Credit in a sentence
Within five (5) Business Days following Xxxxx’s written request for replacement of the Guaranty, Seller shall deliver to Buyer replacement Performance Assurance in the form of a replacement Guaranty, Letter of Credit or cash in an amount equal to the applicable amount of the Guaranty issued pursuant to this Agreement.
Within five (5) Business Days following Buyer’s written request for replacement of the Guaranty, Seller shall deliver to Buyer replacement Performance Assurance in the form of a replacement Guaranty, Letter of Credit or cash in an amount equal to the applicable amount of the Guaranty issued pursuant to this Agreement.
The Development Agreement is collateralized by a Guaranty Letter of Credit issued by Deutsche Bank Trust Company, NA in the amount of $1,958,000 maturing on August 15, 2022, to be renewed annually.
Within five (5) Business Days following Buxxx’s written request for replacement of the Guaranty, Seller shall deliver to Buyer replacement Performance Assurance in the form of a replacement Guaranty, Letter of Credit or cash in an amount equal to the applicable amount of the Guaranty issued pursuant to this Agreement.
In the event that Developer fails to close a Building lease in accordance with the foregoing schedule, except if due to Owner, Owner may draw the entire balance of the Guaranty Letter of Credit and apply same at its sole discretion, and in addition thereto, at its sole option, de-designate Developer for each such Building and for the remainder of the Buildings (such remedies collectively "Owner's DeDesignation Remedies").
Upon consummation of the transaction contemplated by Section 10.1, or upon consummation of the Plan of Reorganization on or before the first anniversary of the Petition Date or upon payment in full of the obligations, the Lender shall return the Xxxxxx Trust Guaranty, Letter of Credit No. 1, Letter of Credit No. 2, any Principal Amount Letters of Credit, any Interest/Fees Letters of Credit and any remaining Eligible Collateral.
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The Performance and Payment Letter of Credit shall be maintained and renewed by the Owner and/or Developer, and shall be held by the Town, until the approval of the Improvements by the Town, or the acceptance of the Improvements by the Town, and the posting of the Guaranty Letter of Credit as required by Paragraph 23 of this Subsection.
Discussion on the Improvement Guaranty Letter of Credit held for traffic improvements in relation to development of Conoy Crossing.
PPA Period Guaranty Letter of Credit Total Credit Support Should Seller’s credit support provider’s credit and/or financial position decrease below the Qualified Seller, Qua lified Gua rantor, or Qua lified Fina ncial Institution requirements in this Section 20(d), the Seller sha l notify Purchaser within five (5) business days and shall have thirty (30) days to provide replacement credit support that meets the requirements set forth herein.