Common use of DURATION OF THE GUARANTEE Clause in Contracts

DURATION OF THE GUARANTEE. The Guarantor’s undertaking under this Guarantee will automatically expire as soon as the Guarantor has paid the amount covered by this Guarantee, or in case the Guarantee has not been requested under the conditions set out above, on the first of the following dates: (i) the date of return of this Guarantee by the Beneficiary to the Guarantor or the date that this Guarantee is expressly withdrawn in writing by the Beneficiary; (ii) one (1) year after the Maturity Date (as defined in the Loan Agreement), as the same may be extended from time to time; or (iii) the Guaranteed Obligations in consideration of which the Guarantee is provided have been repaid in full, as confirmed in writing by the Beneficiary.