Common use of Guaranteed amount Clause in Contracts

Guaranteed amount. Following a Guarantee Trigger Event (as defined above), the Guarantor undertakes to pay the Bank in accordance with the provisions of Article 1.3 (Demands and Payments) and on the Bank’s first written demand, an amount equal to (or up to in aggregate in case of several Demands) one of the following: any principal, interest, default interest or other amounts (including fees, charges, incidental costs, expenses or compensation of any kind) due and payable to the Bank by the Borrower under or in connection with the Finance Contract on the date of the Demand Notice, without the amount in question having to be claimed from the Borrower in advance; and without duplication with the amount determined under (i), any principal, interest, default interest or other amounts (including fees, charges, incidental costs, expenses or compensation of any kind) that would have been due and payable to the Bank by the Borrower under the Finance Contract or in connection therewith, if the Bank had declared the full amount or a partial amount made available to the Borrower under the Loan in accordance with Article 10 of the Finance Contract immediately due and payable on the date of the Demand Notice following the Guarantee Trigger Event, it being understood that such amount shall be deemed due and payable to the Bank for the purpose of the determination of the amount callable under the Guarantee on the date of the Demand Notice by the sole effect of the occurrence of the Guarantee Trigger Event: without the prepayment of the Loan being required under Article 4 of the Finance Contract; without the Guarantee Trigger Event having to constitute an Event of Default or a Prepayment Event under the Finance Contract; without the Guarantor being entitled (i) to invoke the invalidity of any of the provisions of the Finance Contract to challenge the application of the relevant provisions of the Finance Contract or (ii) to raise any objection or invoke any other means of defence arising from the legal relationship between the Borrower and the Bank or any other third party, in particular any invalidity, termination, cancellation or set-off in respect of the determination of the above amounts.

Guaranteed amount. Following a Guarantee Trigger Event (as defined above), the Guarantor undertakes to pay the Bank in accordance with the provisions of Article 1.3 (Demands and Payments) and on the Bank’s first written demand, an amount equal to (or up to in aggregate in case of several Demands) one of the following: : (a) any principal, interest, default interest or other amounts (including fees, charges, incidental costs, expenses or compensation of any kind) due and payable to the Bank by the Borrower under or in connection with the Finance Contract on the date of the Demand Notice, without the amount in question having to be claimed from the Borrower in advance; and (b) without duplication with the amount determined under (i), any principal, interest, default interest or other amounts (including fees, charges, incidental costs, expenses or compensation of any kind) that would have been due and payable to the Bank by the Borrower under the Finance Contract or in connection therewith, if the Bank had declared the full amount or a partial amount made available to the Borrower under the Loan in accordance with Article 10 of the Finance Contract immediately due and payable on the date of the Demand Notice following the Guarantee Trigger Event, it being understood that such amount shall be deemed due and payable to the Bank for the purpose of the determination of the amount callable under the Guarantee on the date of the Demand Notice by the sole effect of the occurrence of the Guarantee Trigger Event: : (i) without the prepayment of the Loan being required under Article 4 of the Finance Contract; ; (ii) without the Guarantee Trigger Event having to constitute an Event of Default or a Prepayment Event under the Finance Contract; (iii) without the Guarantor being entitled (i) to invoke the invalidity of any of the provisions of the Finance Contract to challenge the application of the relevant provisions of the Finance Contract or (ii) to raise any objection or invoke any other means of defence arising from the legal relationship between the Borrower and the Bank or any other third party, in particular any invalidity, termination, cancellation or set-off in respect of the determination of the above amounts.