Conditions of Guarantee Sample Clauses
The "Conditions of Guarantee" clause defines the specific requirements and circumstances under which a guarantee becomes valid and enforceable. Typically, this clause outlines actions or events that must occur—such as the principal debtor defaulting on payment or the creditor making a formal demand—before the guarantor is obligated to fulfill the guarantee. For example, it may specify that the guarantee only applies to certain types of obligations or within a set timeframe. The core function of this clause is to clearly establish the triggers and limitations of the guarantor’s liability, thereby preventing disputes and ensuring all parties understand when the guarantee is activated.
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Conditions of Guarantee. A loan guarantee under this part will be evidenced by a Loan Note Guarantee issued by the Agency. Each lender will also execute a Lender’s Agreement.
(a) The entire loan will be secured by the same security with equal lien pri- ority for the guaranteed and non-guar- anteed portions of the loan. The non- guaranteed portion of the loan will not be paid first nor given any preference or priority over the guaranteed por- tion.
(b) The lender will be responsible for servicing the entire loan and will re- main mortgagee or secured party of record notwithstanding the fact that another party may hold a portion of the loan.
(c) When a guaranteed portion of a loan is sold to a holder, the holder shall have all rights of the lender under the Loan Note Guarantee to the extent of the portion purchased. The lender will remain bound by all the obliga- tions under the Loan Note Guarantee, Lender’s Agreement, and Agency pro- gram regulations. If the Agency makes a payment to a holder, then the lender must reimburse the Agency.
(d) A lender will receive all payments of principal and interest on the ac- count of the entire loan and will promptly remit to each holder a pro rata share, less any lender servicing fee.
(e) The lender may retain all of the unguaranteed portion of the loan or may sell part of the unguaranteed por- tion of the loan through participation. However, the lender is required to re- tain 5 percent of the loan amount from the unguaranteed portion in their port- folio.
Conditions of Guarantee. With respect to each Guarantee, Ex-Im Bank hereby waives diligence, presentment, protest and any requirement that the Lender or any Noteholder exhaust any right or take any action against or give notice to the Borrower, any Guarantors or Ex-Im Bank, except for the written demands for payment by the Lender on the Borrower, any Guarantors and Ex-Im Bank required under this Agreement.
Conditions of Guarantee. DOE hereby waives diligence, presentment, protest, demand, notice and any requirement that the Administrative Agent or the Holders exhaust any right or remedy or take any action against or give notice to the Borrower or DOE, except for the written Demand for payment by the Administrative Agent on DOE required under Section 4.
Conditions of Guarantee. This guarantee is supported by the full faith and credit of the United States and is not contestable except under the circumstance of fraud or misrepresentation of which the Seller has actual knowledge at the execution of the Agreement or which the Seller participates in or condones.
Conditions of Guarantee. The above remedy in Clause 1.2 is applicable only if: (1) Spirit is experiencing an engine caused aircraft on ground situation while being at zero spare engine status caused by V2500-A5 engine related problems, and (2) Spirit is not leasing a Spare Engine through IAE’s emergency lease pool at the time of the request. For the avoidance of doubt, the two conditions in this Clause 1.3 do not apply to Clause 1.1 of the Guarantee. The cumulative amount of this Guarantee shall in no event exceed ***** over the period of the Guarantee. The availability of this Guarantee is contingent upon Spirit managing its fleet in accordance with the FHA (including the mutually agreed eMMP).
Conditions of Guarantee. The Guarantor hereby irrevocably waives diligence, presentment, protest, demand, notice and any requirement that the Agent or the Lender exhaust any right or remedy or take any action against or give notice to the Borrower or the Guarantor, except for the written Demand for payment by the Agent on the Guarantor required under Section 9.2. To the fullest extent permitted by Applicable Law, the Guarantor irrevocably waives and agrees that it will not assert against the Lender any defense to payment under the Guarantee (including, without limitation, fraud in the inducement) which it might otherwise have based solely upon the conduct of the Borrower, the Sponsor or the Lender.
Conditions of Guarantee. 10 4.05 Payment by the Board................................................ 10 4.06 Board Payment Does Not Discharge Borrower........................... 10 SECTION 5. UNDERTAKINGS OF THE AGENT........................................... 11
Conditions of Guarantee. The Board hereby waives diligence, presentment, protest and any requirement that the Agent or the Lender exhaust any right or take any action against or give notice to the Borrower or the Board, except for the written demands for payment by the Agent on the Borrower and the Board required under this Agreement.
Conditions of Guarantee. A. This guarantee is supported by the full faith and credit of the United States and is not contestable except under the circumstance of fraud or misrepresentation of which the Seller has actual knowledge at the execution of the Agreement or which the Seller participates in or condones.
B. This guarantee and the Agency’s obligations will terminate at the earliest of the following circumstances:
(1) Full payment of the Contract; (2) Agency payment to the seller of 3 annual installments plus property taxes and insurance, if applicable, if not repaid in full by the buyer. An Agency approved repayment plan will not constitute payment in full until such time as the entire amount due for the Agency approved repayment plan is paid in full; (3) Sale of real estate without guarantee being properly assigned;
Conditions of Guarantee. With respect to each Guarantee, ExIm Bank hereby waives diligence, presentment, protest and any requirement that the Lessor or any Interestholder exhaust any right or take any action against or give notice to the Lessee, any Guarantors or ExIm Bank, except for the written demands for payment by the Lessor on the Lessee, any Guarantors and ExIm Bank required under this Agreement.