Letter of Guarantee definition

Letter of Guarantee or “LG” means a documentary credit issued by the Bank on behalf of the Borrower for the purpose of providing security to a third party that the Borrower or a person designated by the Borrower will perform a contractual obligation owed to such third party;

Letter of Guarantee means the letter of guarantee executed by each GUARANTOR and required to be delivered by the BORROWER to the BANK pursuant to SECTION 3.01 hereof, together with all exhibits and schedules thereto, as the same may be supplemented, modified, amended, restated or replaced from time to time in the manner provided therein.

Letter of Guarantee or "L/G" means, unless specifically limited elsewhere in this Agreement, a stand-by letter of guarantee or similar instrument in form and substance satisfactory to the Bank.

Examples of Letter of Guarantee in a sentence

• A clearing arrangement subject to a Letter of Guarantee would immediately permit the Give Up of a Restricted OCC Number by the Member that is party to the arrangement.

• The Clearing Member will be required to authorize a Member as described in subparagraph (1) or (3), unless the Restricted OCC Number is already subject to a Letter of Guarantee that the Member is a party to, as set forth in paragraph (d) below.

• Our liability under this Letter of Guarantee shall become null and void immediately upon its expiry, whether it is returned or not, and no claim may be made under this Letter after such expiry or after the aggregate of the sums paid by us to you shall equal the sums guaranteed under this Letter, whichever is the earlier.

• Our liability under this Letter of Guarantee shall be to pay to you whichever is the lesser of the sum so requested or the amount then guaranteed under this Letter in respect of any demand duly made under this Letter prior to expiry of this Letter of Guarantee, without being entitled to inquire whether or not this payment is lawfully demanded.

• This Letter of Guarantee shall be valid from the date of issue until the date of expiration of the guarantee, as governed by the Contract.

More Definitions of Letter of Guarantee

Letter of Guarantee or "L/G" means a stand-by letter of guarantee or similar instrument in form and substance satisfactory to the Bank.

Letter of Guarantee means a letter of guarantee issued by the L/C Lender on behalf of the Lenders in respect of Facility A or Facility B at the request and for the account of the relevant Borrower to beneficiaries.

Letter of Guarantee means the guarantee provided by the Guarantor in favor of the Bank in support of the Borrower’s indebtedness hereunder and under the Note, to be delivered to the Bank pursuant to Section 3.01(b)(iii) as a condition to the making of the Loan, which shall be substantially similar in form and substance to the undertakings provided by Section 13.16 of the Reference Agreement.

Letter of Guarantee means the Letter of Guarantee issued by the Purchaser Guarantor in favor of Seller, to guarantee the payment obligations of Purchaser with respect to the Estimated Closing Payment, any adjustment to the Estimated Closing Payment payable to Seller, the Second Installment Payment and, each Deferred Payment, pursuant to the terms of this Agreement, substantially in the form as set forth in Exhibit A hereto, which shall provide, among other things, that the aggregate amount payable by the Purchaser Guarantor thereunder does not exceed US$680,000,000 and the obligations of the Purchaser Guarantor thereunder will expire as of December 31, 2029.

Letter of Guarantee means a document

Letter of Guarantee means a letter of guarantee in the form attached hereto as Exhibit A.

Letter of Guarantee means as defined in Clause 24.4 hereof;