Common use of Term of this Guarantee Clause in Contracts

Term of this Guarantee. (a) The Guarantee in respect of a Tranche shall be effective as of the first date on which both: (i) the Issue Date in respect of that Tranche has taken place; and (ii) CGIF has issued the CGIF Certificate in respect of that Tranche, (the Effective Date). (b) Subject to paragraph (c) below and Clause 2.7 (Reinstatement) and Clause 12 (Termination), the Guarantee in respect of a Tranche will cease to be effective on the earlier of: (i) the date on which all Guaranteed Amounts in respect of that Tranche have been paid, repaid or prepaid in full, or the payment obligations of the Issuer in respect of all such Guaranteed Amounts have been otherwise discharged or released pursuant to the Bond Documents or any other arrangement between the Issuer and the Guaranteed Party; (ii) the date of full redemption, prescription or cancellation of the Bonds under that Tranche; (iii) in the event of an occurrence of a Non-Payment Event in respect of that Tranche, the last day of a Demand Period; (iv) the date on which the Guaranteed Party takes an Acceleration Step in respect of that Tranche other than in respect of a CGIF Non-Payment Event in respect of that Tranche; (v) the date on which the Bonds under that Tranche become payable under the Bond Conditions on an accelerated basis at the instigation of the Issuer in accordance with the Bond Conditions (including, without limitation, as a result of the Issuer's voluntary redemption of the Bonds under that Tranche (whether in full or in part) prior to the Bond Maturity Date); (vi) the date on which a Bondholder exercises the Put Option to require the Issuer to redeem the Bonds under that Tranche prior to the Bond Maturity Date in accordance with the Bond Conditions; and (vii) the effective date of any termination of this Guarantee pursuant to Clause 12 (Termination), (such period of effectiveness of this Guarantee being the Guarantee Term). (c) The Guarantee in respect of a Tranche will remain effective where a Demand has been made in respect of that Tranche in accordance with this Agreement and payment by CGIF has not yet been made to the Guaranteed Party.

Term of this Guarantee. (a) The Guarantee in respect of a Tranche shall be effective as of the first date on which both: (i) the Issue Date in respect of that Tranche has taken place; and (ii) CGIF has issued the CGIF Certificate in respect of that Tranche, (the Effective Date)Certificate. (b) Subject to paragraph (c) below and Clause clauses 2.7 (Reinstatement) and Clause 12 (Termination), the Guarantee in respect of a Tranche will cease to be effective expire on the earlier of: (i) the date on which all Guaranteed Amounts in respect of that Tranche have been paid, repaid or prepaid in full, or the payment obligations of the Issuer in respect of all such Guaranteed Amounts have been otherwise discharged or released pursuant to the Bond Documents or any other arrangement between the Issuer and the Guaranteed Party; (ii) the date of full redemption, prescription or cancellation of the Bonds under that TrancheBonds; (iii) in the event of an occurrence of a Non-Payment Event in respect Event, the close of that Tranche, business of the last day of a Demand Period; (iv) the date on which the Guaranteed Party takes an Acceleration Step in respect of that Tranche other than in respect of a CGIF Non-Payment Event in respect of that TrancheEvent; (v) the date on which the Bonds under that Tranche become payable under the Bond Conditions on an accelerated basis at the instigation of the Issuer in accordance with the Bond Conditions (including, without limitation, as a result of the Issuer's voluntary redemption of the Bonds under that Tranche (whether in full or in part) prior to the Bond Maturity Date); (vi) the date on which a Bondholder exercises the Put Option to require the Issuer to redeem the Bonds under that Tranche prior to the Bond Maturity Date in accordance with the Bond Conditions; and (viivi) the effective date of any termination of this Guarantee pursuant to Clause 12 (Termination), (such period of effectiveness of this Guarantee being the Guarantee Term). (c) The From and after the end of the Guarantee Term the Guaranteed Party shall have no further right to deliver a Demand in respect of a Tranche will remain effective where a Demand has been made in respect of that Tranche any Guaranteed Amounts to be paid by CGIF in accordance with this Agreement and CGIF shall have no further obligation to pay any Guaranteed Amount; provided, however, that this Guarantee will remain effective in respect of any Demand that has been made prior to the end of the Guarantee Term in accordance with this Agreement to the extent that payment by CGIF has not yet been made to the Guaranteed Party.Party prior to the end of the Guarantee Term