Common use of Completion of a Utilisation Request for Bank Guarantee Clause in Contracts

Completion of a Utilisation Request for Bank Guarantee. Each Utilisation Request for a Bank Guarantee is irrevocable and will not be regarded as having been duly completed unless: (a) it specifies that it is for a Bank Guarantee; (b) the proposed Utilisation Date is a Business Day within the Availability Period applicable to the Guarantee Facility; (c) the currency and amount of the Bank Guarantee comply with Clause 6.5 (Currency and amount); (d) the form of Bank Guarantee is attached; (e) the Expiry Date of the Bank Guarantee falls on or before the Termination Date (or, if applicable, the Extension Date) applicable to the Guarantee Facility or as otherwise consented to by the Agent; (f) the Term of the Bank Guarantee shall be 12 months or as otherwise consented to by the Agent; (g) the delivery instructions for the Bank Guarantee are specified; and (h) the identity of the beneficiary of the Bank Guarantee is a beneficiary approved by the Issuing Bank and all the Guarantee Facility Lenders.

Completion of a Utilisation Request for Bank Guarantee. Each Utilisation Request for a Bank Guarantee is irrevocable and will not be regarded as having been duly completed unless: (a) it specifies that it is for a Bank Guarantee; (b) the proposed Utilisation Date is a Business Day within the Availability Period applicable to the Guarantee Facility; (c) the currency and amount of the Bank Guarantee comply with Clause 6.5 (Currency and amount); (d) the form of Bank Guarantee is attached; (e) the Expiry Date of the Bank Guarantee falls on or before the Termination Date (or, if applicable, the Extension Date) applicable to the Guarantee Facility or as otherwise consented to by the Agent; (f) the Term of the Bank Guarantee shall be 12 twelve (12) months or as otherwise consented to by the Agent; (g) the delivery instructions for the Bank Guarantee are specified; and (h) the identity of the beneficiary of the Bank Guarantee is a beneficiary approved by the Issuing Bank and all the Guarantee Facility Lenders.