Guarantee scheme Clause Samples

A guarantee scheme clause establishes a mechanism by which a third party, often a guarantor, promises to fulfill certain obligations if the primary party fails to do so. In practice, this clause typically applies to financial commitments, such as loan repayments or contract performance, where the guarantor steps in to cover losses or complete obligations on behalf of the defaulting party. The core function of a guarantee scheme is to provide assurance and reduce risk for the beneficiary, ensuring that contractual obligations are met even if the original party cannot perform.
Guarantee scheme. DIO I shall issue the usual guarantee for the presence of the money, including for any holidays transferred.
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Guarantee scheme. The guarantee scheme is based on the Rabobank Severance Payment which applies to employees who became redundant on or after January 1, 2017 and whose employment terminated on December 31, 2017 at the latest due to redundancy. The amount that an employee to whom this social plan applies receives on termination of the employment due to redundancy is never lower than 75% of the Rabobank Severance Payment (on the basis of the number of years of service and age on 1 January 2018). The guarantee scheme is also capped. The guarantee amount will never exceed the income that the employee would have earned if he had continued to work until the state pension age applicable to him (based on the last-earned gross monthly salary). The Rabobank Severance Payment is calculated on the basis of the following formula: A * B * C*. A: Years of service B: Income C: Multiplication factor
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Guarantee scheme. Unless you agree otherwise, the organisation collecting the payment from you will normally tell you at least ten Working Days before changing your regular payment date or the amount that they will collect from your Account;
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Guarantee scheme. Employees with a personal supplement who miss some salary perspective (expressed as a percentage of the annual salary) in the future because the personal supplement is incorporated into the new salary but not the salary scales, keep the old salary perspective.
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Guarantee scheme. The parties to the collective agreement agree that the holiday guarantee scheme is to be used by NNF members working in enterprises under the Meat Factory and Slaughterhouse Collective Agreement (DIO I).
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Guarantee scheme. DIO I shall issue the usual guarantee for the presence of the money, including for any holidays transferred. (10) Outstanding holiday payment II - Time off
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Guarantee scheme a. The parties to the collective agreement agree that the holiday guarantee scheme is to be used by NNF members working in enterprises under the Meat Factory and Slaughterhouse Collective Agreement (DIO I). b. If an enterprise wishes to keep holiday allowance in the enterprise instead of making ongoing payments to the FerieKonto holiday payment scheme, the par- ties to the collective agreement agree that this can take place. If so, the enter- prise must inform the employees of this in writing. In the event of a transition to FerieKonto payment the employees must be informed in the same way. c. DI guarantees all earned holiday allowance, including any transferred holiday.
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Guarantee scheme. Dansk Industri shall issue the usual guarantee for the presence of the money, including for any holidays transferred.
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Related to Guarantee scheme

  • Guarantee The Guarantor irrevocably and unconditionally agrees to pay in full to the Holders the Guarantee Payments (without duplication of amounts theretofore paid by the Issuer), as and when due, regardless of any defense, right of set-off or counterclaim that the Issuer may have or assert. The Guarantor's obligation to make a Guarantee Payment may be satisfied by direct payment of the required amounts by the Guarantor to the Holders or by causing the Issuer to pay such amounts to the Holders.

  • GUARANTEE AND INDEMNITY The Guarantor irrevocably and unconditionally guarantees and undertakes to the Beneficiary to procure that the Supplier duly and punctually performs all of the Guaranteed Obligations now or hereafter due, owing or incurred by the Supplier to the Beneficiary. The Guarantor irrevocably and unconditionally undertakes upon demand to pay to the Beneficiary all monies and liabilities which are now or at any time hereafter shall have become payable by the Supplier to the Beneficiary under or in connection with the Guaranteed Agreement or in respect of the Guaranteed Obligations as if it were a primary obligor. If at any time the Supplier shall fail to perform any of the Guaranteed Obligations, the Guarantor, as primary obligor, irrevocably and unconditionally undertakes to the Beneficiary that, upon first demand by the Beneficiary it shall, at the cost and expense of the Guarantor: fully, punctually and specifically perform such Guaranteed Obligations as if it were itself a direct and primary obligor to the Beneficiary in respect of the Guaranteed Obligations and liable as if the Guaranteed Agreement had been entered into directly by the Guarantor and the Beneficiary; and as a separate and independent obligation and liability, indemnify and keep the Beneficiary indemnified against all losses, damages, costs and expenses (including VAT thereon, and including, without limitation, all court costs and all legal fees on a solicitor and own client basis, together with any disbursements,) of whatever nature which may result or which such Beneficiary may suffer, incur or sustain arising in any way whatsoever out of a failure by the Supplier to perform the Guaranteed Obligations save that, subject to the other provisions of this Deed of Guarantee, this shall not be construed as imposing greater obligations or liabilities on the Guarantor than are purported to be imposed on the Supplier under the Guaranteed Agreement. As a separate and independent obligation and liability from its obligations and liabilities under Clauses 2.1 to 2.3 above, the Guarantor as a primary obligor irrevocably and unconditionally undertakes to indemnify and keep the Beneficiary indemnified on demand against all losses, damages, costs and expenses (including VAT thereon, and including, without limitation, all legal costs and expenses), of whatever nature, whether arising under statute, contract or at common law, which such Beneficiary may suffer or incur if any obligation guaranteed by the Guarantor is or becomes unenforceable, invalid or illegal as if the obligation guaranteed had not become unenforceable, invalid or illegal provided that the Guarantor's liability shall be no greater than the Supplier's liability would have been if the obligation guaranteed had not become unenforceable, invalid or illegal.

  • Guarantee Limitations The limitations applicable to the Guarantees, as set forth in Section 209 of the Indenture, will apply to the Guarantees issued hereunder; provided, however, that any further limitations, or any amendments or modifications to such Guarantees or limitations thereon, shall be set forth in an additional supplemental indenture, in each case in accordance with the Indenture.