Common use of DURATION OF THE GUARANTEE Clause in Contracts

DURATION OF THE GUARANTEE. 4.1 This Guarantee shall expire at the earliest to occur of the following events: (a) payment by the Authority to the JVC of Transfer Payment due under the OMDA, upon expiry or early termination of the OMDA; or (b) upon disbursement of the Transfer Payment (or part thereof) and interest, if any, by the Guarantor under Clause 2.1 of this Guarantee; or (c) unless the validity of this Guarantee is extended in writing by the Guarantor for such period as may be specified, in case the JVC does not make any demand, as prescribed under Clause 2.1 of this Guarantee, from the Guarantor for payment of the Transfer Payment within sixty (60) days after expiry of six (6) months from the Transfer Date; or (d) [upon expiry of the time initially agreed by ▇▇▇▇▇▇▇ under Financing Documents for repayment of Debt as borrowed by the JVC pursuant to the first financial closure in relation to the Airport]. 4.2 Upon the expiry of this Guarantee, it shall stand terminated and cease to have effect, and the Guarantor shall be discharged of all the obligations under the Guarantee; provided however, that the expiry of this Guarantee shall not prejudice or affect the liability of the Guarantor in respect of any claims made hereunder resulting from early termination or expiry of the OMDA on or prior to the date of the expiry of this Guarantee.

DURATION OF THE GUARANTEE. 4.1 This Guarantee shall expire at the earliest to occur of the following events: (a) payment by the Authority to the JVC of Transfer Payment due under the OMDA, upon expiry or early termination of the OMDA; or (b) upon disbursement of the Transfer Payment (or part thereof) and interest, if any, by the Guarantor under Clause 2.1 of this Guarantee; or (c) unless the validity of this Guarantee is extended in writing by the Guarantor for such period as may be specified, in case the JVC does not make any demand, as prescribed under Clause 2.1 of this Guarantee, from the Guarantor for payment of the Transfer Payment within sixty (60) days after expiry of six (6) months from the Transfer Date; or (d) [upon expiry of the time initially agreed by ▇▇▇▇▇▇▇ Lenders under Financing Documents for repayment of Debt as borrowed by the JVC pursuant to the first financial closure in relation to the Airport]. 4.2 Upon the expiry of this Guarantee, it shall stand terminated and cease to have effect, and the Guarantor shall be discharged of all the obligations under the Guarantee; provided however, that the expiry of this Guarantee shall not prejudice or affect the liability of the Guarantor in respect of any claims made hereunder resulting from early termination or expiry of the OMDA on or prior to the date of the expiry of this Guarantee.