Examples of Lender Guaranty in a sentence
Additions to the Lender Guaranty Reserve shall be established concurrently with the issuance of each Lender Guaranty.
Promptly, and in any case within seven (7) days notice thereof, notify the Lender of any demand or event or circumstance that is reasonably likely to cause a demand under any Lender Guaranty.
The Borrower and each other Obligor shall assume all risks of the acts, omissions or misuse of any Lender Guaranty by the beneficiary thereof.
No Letter of Credit will be caused to be issued which, taking into account the issuance of such Letter of Credit, would either cause the Letter of Credit Outstandings to exceed the Letter of Credit Commitment Amount or cause the aggregate principal amount of the Revolving Loans then outstanding plus the Letter of Credit Outstandings and the Lender Guaranty Disbursements to exceed the Revolving Loan Commitment Amount.
The Lender will notify the Borrower promptly of any demand for payment under a Lender Guaranty, together with notice of the date (the “Lender Guaranty Disbursement Date”) such payment shall be made (each such payment, a “Lender Guaranty Disbursement”).