Lender Guarantee definition

Lender Guarantee means a letter of credit issued by Xxxxxx or a guarantee by Xxxxxx to induce a bank, reasonably acceptable to Xxxxxx, to issue a letter of credit, or any payment made by Xxxxxx pursuant to any letter of credit subject to a Lender Guarantee which has not been reimbursed by Borrower or charged as a Revolving Loan. In determining the amount of outstanding Lender Guarantees, the maximum amount of any Xxxxxx guarantee to a bank issuing letters of credit on behalf of Borrower will be considered outstanding unless such bank reports daily activity to Xxxxxx showing actual outstanding letters of credit subject to Xxxxxx'x guarantee. Lender Guarantees will only be provided for letters of credit which expire within one (1) year after date of issuance and at least thirty (30) days prior to the date set forth in clause (c) of the definition of the term "EXPIRY DATE." Borrower shall give Xxxxxx five (5) Business Days prior written notice for a letter of credit. Five (5) Business Days prior written notice is required for the issuance of a letter of credit by a bank, provided that such five (5) Business Day period may not commence until Xxxxxx and the bank that will be issuing such letter of credit have entered into a Service and Letter of Credit Guaranty Agreement or any similar agreement, in form and substance satisfactory to Xxxxxx, which agreement will govern Xxxxxx'x guaranty of all letters of credit to be issued by such bank for the benefit of Borrower. Borrower is irrevocably and immediately responsible to Xxxxxx for reimbursement of any amount paid by Xxxxxx under any Lender Guarantee except to the extent such 1payments were made as a result of Xxxxxx'x gross negligence or willful misconduct. Subject to the provisions of the last paragraph of subsection 1.4, this reimbursement shall occur by the making of a Revolving Loan without prior notice to Borrower. The Borrower shall (i) maintain an operating account at the issuing bank or (ii) be directly charged by the issuing bank for settlement of letters of credit and any related fees.
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Lender Guarantee means a guarantee issued or to be issued by an Issuing Lender under the Revolving Facility or the Bonding Facility in such form as may be agreed between Bidco or the relevant Borrower and the relevant Issuing Lender, provided that such agreed form satisfies the requirements of Clause 5.1 (Delivery of Drawing Requests);
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Lender Guarantee means a guarantee and/or indemnity issued or to be issued by an Issuing Lender under the Revolving Facility Tranche B in the form provided for in Part 2 of Schedule 9 or in such other form as may be agreed between the Obligors’ Agent, the Agent and an Issuing Lender;
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Examples of Lender Guarantee in a sentence

  • Borrower shall also reimburse Xxxxxx for any and all fees and expenses paid to the issuer of any letter of credit that are in any way related to a Lender Guarantee.

  • From the Closing Date, Borrower shall pay a fee for each Lender Guarantee from the date of issuance of the Lender Guarantee to the date of termination thereof.

  • The fee is equal to the average daily outstanding amount of the Lender Guarantee multiplied by two and three quarters percent (2.75%) per annum, such fees payable monthly in arrears on the first day of each subsequent month.

  • Each Borrower for whose account a Letter of Credit or Lender Guarantee is issued shall pay to each Revolving Lender or Bonding Lender (as the case may be) a commission at a rate equal to the applicable Margin (as adjusted from time to time in accordance with Clause 6.5 (Margin Adjustment)) for the Revolving Facility or the Bonding Facility (as the case may be) on that Lender’s Contingent Liability from day to day in relation to that Letter of Credit or Lender Guarantee.

  • The Account Party hereby irrevocably authorises each Issuing Lender to pay without investigation or confirmation by it any demand which appears on its face to be validly made under or pursuant to any Letter of Credit or Lender Guarantee issued by that Issuing Lender and agrees that as between itself, such Issuing Lender and the Lenders, that any such demand (in the absence of manifest error) shall be conclusive evidence that demand has been properly made.

  • Each Issuing Lender shall forthwith notify the Agent of any demand received by it under any Letter of Credit or Lender Guarantee and the Agent on receipt of any such notice shall forthwith notify the Obligors’ Agent, the Agent, the Borrower for whose account that Letter of Credit or Lender Guarantee was issued (the “Account Party”) and the Lenders.

  • The Issuing Lender shall promptly advise the Facility Agent (in the case of a Letter of Credit or Lender Guarantee under the Revolving Facility) or the Bonding Agent (in the case of a Letter of Credit or Lender Guarantee under the Bonding Facility) in writing of any such deemed face amount.

  • A Drawing Request once given may not be withdrawn or revoked unless it is a Drawing Request for the issue of a Letter of Credit or Lender Guarantee which is withdrawn or revoked before the Letter of Credit or Lender Guarantee is issued by the Issuing Lender.

  • Each Borrower for whose account a Letter of Credit or Lender Guarantee is issued shall pay to each Lender a commission at a rate equal to the Margin for the Revolving Facility on that Lender’s Contingent Liability from day to day in relation to that Letter of Credit or Lender Guarantee.

  • The Account Party hereby irrevocably authorises each Issuing Lender to pay without investigation or confirmation by it any demand which appears on its face to be validly made under or pursuant to any Letter of Credit or Lender Guarantee issued by that Issuing Lender and agrees that as between itself, such Issuing Lender and the Lenders, such demand (in the absence of manifest error) shall be conclusive evidence that demand has been properly made.


More Definitions of Lender Guarantee

Lender Guarantee shall have the meaning set forth in Section 2.8.
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Lender Guarantee shall have the meaning set forth in Section 3.5(A).
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Related to Lender Guarantee

  • Guaranty means, with respect to any Person, any obligation (except the endorsement in the ordinary course of business of negotiable instruments for deposit or collection) of such Person guaranteeing or in effect guaranteeing any indebtedness, dividend or other obligation of any other Person in any manner, whether directly or indirectly, including (without limitation) obligations incurred through an agreement, contingent or otherwise, by such Person:

  • VA Loan Guaranty Agreement means the obligation of the United States to pay a specific percentage of a Mortgage Loan (subject to a maximum amount) upon default of the Mortgagor pursuant to the Servicemen’s Readjustment Act, as amended.

  • Subsidiary Guaranty is defined in Section 9.7(a).

  • Subsidiary Guaranty Agreement means each unconditional guaranty agreement executed by the Subsidiary Guarantors in favor of the Administrative Agent for the ratable benefit of the Secured Parties, substantially in the form of Exhibit H, as amended, restated, supplemented or otherwise modified from time to time.

  • Guaranty Agreement means an agreement executed by the Guarantors in substantially the form of Exhibit F-2 unconditionally guarantying on a joint and several basis, payment of the Indebtedness, as the same may be amended, modified or supplemented from time to time.

  • Holdings Guaranty means the Holdings Guaranty made by Holdings in favor of the Administrative Agent on behalf of the Secured Parties, substantially in the form of Exhibit F.

  • U.S. Guaranty means the guarantee of the Obligations of each Loan Party hereunder by the U.S. Loan Parties in Article III hereunder or in a supplemental guarantee in accordance with Section 7.01(n) of this Agreement.

  • Canadian Guarantee means the Canadian Guarantee Agreement, made by each of the Canadian Guarantors in favor of the Canadian Administrative Agent for the benefit of the Lenders to the Canadian Borrower, substantially in the form of Exhibit A-1, as the same may be amended, supplemented or otherwise modified from time to time.

  • Loan guarantee means any State or federal government

  • Guarantee used as a verb has a corresponding meaning.

  • Other Guarantees means all guarantees, other than this Preferred Securities Guarantee, to be issued by the Guarantor with respect to preferred securities (if any) similar to the Preferred Securities, issued by trusts other than the Issuer to be established by the Guarantor (if any), in each case similar to the Issuer.

  • Seller Guaranty means a guaranty of payment and performance issued by a Seller Guarantor in the form attached to this Agreement as Exhibit V or in such other form as may be acceptable to Purchaser acting reasonably.

  • Obligation Guaranty means any Guarantee of all or any portion of the Secured Obligations executed and delivered to the Administrative Agent for the benefit of the Secured Parties by a guarantor who is not a Loan Party.

  • Bid guarantee means the bid bond, cashier's check or certified check submitted as part of the bid proposal, payable to the contracting unit, ensuring that the successful bidder will enter into a contract.

  • Foreign Guaranty means a Corporate Guaranty provided by an Affiliate of a Participant that is domiciled in a foreign country, and meets all of the provisions of Tariff, Attachment Q. “Form 715 Planning Criteria” shall have the same meaning provided in the Operating Agreement.

  • Subsidiaries Guaranty shall have the meaning provided in Section 6.10.

  • Permitted SBIC Guarantee means a guarantee by the Borrower of Indebtedness of an SBIC Subsidiary on the SBA’s then applicable form, provided that the recourse to the Borrower thereunder is expressly limited only to periods after the occurrence of an event or condition that is an impermissible change in the control of such SBIC Subsidiary (it being understood that, as provided in clause (s) of Article VII, it shall be an Event of Default hereunder if any such event or condition giving rise to such recourse occurs).

  • Subsidiary Guarantee means any guarantee of the obligations of the Issuers under this Indenture and the Notes by any Subsidiary Guarantor in accordance with the provisions of this Indenture.

  • Canadian Guaranty means a Corporate Guaranty provided by an Affiliate of a Participant that is domiciled in Canada, and meets all of the provisions of Tariff, Attachment Q.

  • Subsidiary Guarantee Agreement means the Subsidiary Guarantee Agreement, substantially in the form of Exhibit D, made by the Subsidiary Loan Parties in favor of the Administrative Agent for the benefit of the Lenders.

  • Parent Guarantee means the guarantee by Parent Guarantor of the obligations of the Issuer under this Indenture and the Securities in accordance with the provisions of this Indenture.

  • Swap Guarantee If so specified in the Supplement with respect to any Series, the guarantee issued by the Swap Guarantor in favor of the Trust substantially in the form attached as an exhibit to the Swap Agreement.

  • Note Guaranty means the guaranty of the Notes by a Guarantor pursuant to this Indenture.

  • Subsidiary Guaranties means the Domestic Subsidiary Guaranty and each Foreign Subsidiary Guaranty.

  • Guaranty Agreements means and includes the Guarantee of the Loan Parties provided for in Section 11, and any other guaranty agreement executed and delivered in order to guarantee the Obligations or any part thereof in form and substance reasonably acceptable to the Administrative Agent.

  • CONSTRUCTION GUARANTEE means a guarantee at call obtained by the contractor from an institution approved by the employer in terms of the employer's construction guarantee form as selected in the schedule