Standby GIC Provider definition

Standby GIC Provider or “Standby GDA Provider” means the person appointed by the Guarantor LP or the Cash Manager (on its behalf) as such pursuant to the terms the Standby Guaranteed Investment Contract, at such time and for so long as such person is appointed Standby GIC Provider or such other person for the time being acting as standby GIC provider in accordance with the Standby Guaranteed Investment Contract;
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Examples of Standby GIC Provider in a sentence

  • As and from the date of such Guarantor Acceleration Notice, the Standby GIC Provider shall comply with the directions of the Bond Trustee in relation to the Standby GIC Account.

  • The Standby GIC Provider undertakes to perform only such duties as are expressly set forth in this Agreement and to deal with the Guarantor Accounts with the degree of skill and care that the Standby GIC Provider accords to all accounts and funds maintained and held by it on behalf of its customers.

  • For greater certainty payments to the Standby Account Bank and the Standby GIC Provider rank pro rata and pari passu with each other and with payments to the asset monitor, among others in the relevant Priorities of Payments.

  • Subject to the provisions of the Standby Bank Account Agreement, the Standby GIC Provider agrees to accept and credit to the Standby GIC Account such sums in accordance with its customary banking practices and the other terms hereof.

  • The Issuer and the Guarantor shall not amend the Priorities of Payments if such amendment negatively affects any payments (including the priority thereof) to the Standby Account Bank or the Standby GIC Provider without the consent of the Standby Account Bank or the Standby GIC Provider, as the case may be.

  • The Standby GIC Provider agrees and confirms that, unless the Standby GIC Provider is otherwise notified by the Guarantor or the Bond Trustee in accordance with the terms of this Agreement, the Cash Manager, as agent of the Guarantor, may act on behalf of the Guarantor under this Agreement.

  • In no event shall the Standby GIC Provider be liable for (i) losses or delays resulting from force majeure, computer malfunctions, interruption of communication facilities or other causes beyond the Standby GIC Provider’s control or for indirect or consequential damages, or (ii) any loss due to any altered, forged, fraudulent or unauthorized Financial Instruments.

  • The Standby GIC Provider agrees and confirms that, unless the Standby GIC Provider is otherwise notified by the Guarantor LP or the Bond Trustee in accordance with the terms of this Agreement, the Cash Manager, as agent of the Guarantor LP, may act on behalf of the Guarantor LP under this Agreement.

  • As and from the date of such Guarantor LP Acceleration Notice, the Standby GIC Provider shall comply with the directions of the Bond Trustee in relation to the Standby GIC Account.

  • Each of the Guarantor, the Cash Manager, the Standby Account Bank and the Standby GIC Provider undertakes and agrees to notify the Bond Trustee in accordance with Article 12 promptly upon becoming aware thereof of any event which would or could entitle the Bond Trustee to serve a notice of termination pursuant to Section 7.1.