GUARANTEE TERMS AND CONDITIONS Sample Clauses

A Joint Life Guarantee may be continued upon Contract Owner’s death only if permitted by federal law. Table of Contents If you have started withdrawals under the Lifetime Withdrawal Guarantee of the Rider, the Joint Life Guarantee cannot be converted to a Single Life Guarantee. The Covered Life can be removed from the Contract by the Contract Owner(s) (provided that all Owner / Annuitant requirements are satisfied), but the charge for the Rider would remain at the Joint Life Guarantee charge, and all features and benefits of the Rider will continue to be based upon the age/lifetime of the original Covered Lives. The Guaranteed Party agrees that in no event shall the Guarantor be required to pay to the Guaranteed Party any amounts in connection with this Limited Guarantee or the Merger Agreement other than as expressly set forth in this Limited Guarantee. All payments under this Limited Guarantee shall be made in lawful money of the United States, in immediately available funds. Table of Contents • The obligations of the Capital Trust under the preferred securities will be fully and unconditionally guaranteed by us.

These can cover things like accidental damage or extend the warranty period. While they offer added peace of mind, it’s important to read the terms carefully to ensure they provide the coverage you need. Many retailers, credit cards, and manufacturers offer extended warranties or service plans that provide additional coverage beyond the standard warranty. In reality, all of us utilize such implied warranties on a daily basis. Each time you eat out at a restaurant or fast food location and do not become ill from tainted food or purchase oil for your vehicle which works to lubricate your car motor you are relying on such implied warranties and they are critical to the level of trust and reliance on business transactions that is so much a part of American life that it is taken for granted.

• In business and legal transactions, a warranty is an assurance by one party to the other party that certain facts or conditions are true or will happen.
• Neither the Trustee nor any Holder shall by any act (except bya written instrument pursuant to Section 3.01), delay, indulgence, omission or otherwise be deemed to have waived any right or remedy hereunder or to have acquiesced in any default or event of default.
• Fangda also exchanged comments with Hankun on representations and warranties of the Company relating to its PRC operations.
• The higher the guaranteed term, the lower the initial income and vice versa.
• The company should respond to claims promptly and efficiently, ensuring that repairs or replacements are carried out according to the warranty terms.

The Company will not be obligated to file any claim relating to any of the Guaranteed Obligations if Parent or Merger Sub becomes subject to an insolvency, bankruptcy, reorganization or similar proceeding, and the failure of the Company to so file will not affect any Guarantor’s obligations under this Guarantee. If any payment to the Company in respect of any of the Guaranteed Obligations is rescinded or must otherwise be returned for any reason whatsoever, each Guarantor will remain fully liable under this Guarantee, subject to the terms hereof, with respect to the Guaranteed Obligations (subject to such Guarantor’s Cap) as if such payment had not been made. If the Company is prevented pursuant to applicable Law or otherwise from demanding or accelerating payment of any of the Guaranteed Obligations from Parent or Merger Sub by reason of any automatic stay or otherwise, the Company will be entitled to receive from each Guarantor, upon demand therefor, the sums that otherwise would have been due hereunder, in each case subject to such Guarantor’s Cap, had such demand or acceleration occurred. Dividends on the preference shares are payable quarterly on a non-cumulative basis, only when, as and if declared by the Board, on March15, June15, September15 and December15 of each year at a fixed rate equal to 8.00% per annum on the liquidation preference, commencing on September15, 2009.

For an Approved Payment Request that involves Eligible Losses to Eligible Property that is owned by a party other than you, we reserve the right, in our sole discretion, to pay all or a portion of the amount covered in such Approved Payment Request either to you or directly to the owner of such Eligible Property. If a Host Damage Protection payment for all or a portion of such amount is made directly to the owner of such Eligible Property, then you agree that such payment will be treated for purpose of the Approved Payment Request as being paid to you directly, and that you will be solely responsible for collecting from the owner of such Eligible Property any portion of such payment to which you believe you are legally entitled. For clarity, your indemnification obligations set forth below under the paragraph entitled “Host’s Indemnification Obligations” will apply to claims arising from any payments made pursuant to Host Damage Protection, including without limitation any payments made directly to the owner of any Eligible Property.

This warranty serves as a promise from the manufacturer that the product will perform as expected, or they will repair or replace it if it doesn’t. However, the details of what’s covered and what’s not can often be a source of confusion. In most cases, a single product or solution will not tick every box for you. So, combining retirement income products and features can ensure the best outcome for your retirement.

(a)Unless otherwise defined herein, terms defined in the Indenture and used herein shall have the meanings given to them in the Indenture. In this comprehensive guide, we’ll break down the Indemnity vs Guaranteedebate with real-world examples, definitions, and legal insights to help you clearly understand what each term means, how they’re used, and why the difference matters. Repair and deduct, or ‘fix and take off,’ is a way for renters to pay for necessary repairs in their home and subtract that cost from their rent if the landlord doesn’t fix things in a timely manner. Constitution that aims to guarantee equal rights for all people, regardless of their sex. The legal term ‘for’ is used to indicate the reason or purpose behind an action, similar to saying ‘because of’ in everyday language.

“Lifetime” here does not refer to the lifetime of the buyer, but to the length of time the item remains in production (and sometimes for a short time after that). Within the grand scheme of material goods, relatively few products come with lifetime warranties. Additionally, any damage caused by a buyer is not covered by a warranty, lifetime or otherwise. As warranties are usually contracts, they are often valid and binding for a specific length of time, usually 12 to 24 months, and sometimes customers can further extend a warranty. More expensive products, such as electronic goods, typically come with a one-year warranty by default (except in the UK and EU, where a 2-year warranty is the minimum required by law for electronics). Sellers will then try to sell longer-termed warranty protections as a separate product.

Legal compliance and customer satisfaction are enhanced by a well-drafted warranty agreement. For the avoidance of doubt, the Partnership or the Partnership GP may pursue enforcement of its rights under both this letter agreement and that certain Limited Guarantee by the Sponsor in favor of the Partnership (the “Limited Guarantee”), or either of them; provided, that the Partnership or the Partnership GP shall only be entitled to actually enforce its rights under either this letter agreement or the Limited Guarantee. The exercise by Parent, the Partnership or the Partnership GP of any right to enforce this letter agreement does not give rise to any other remedies, monetary or otherwise. • we or any permitted successor or assignee owns all of the trust common securities of the successor entity and guarantees the obligations of the successor entity under the successor securities at least to the extent provided by the related guarantee.

“Unauthorized Invitees” means one or more Invitees of a Responsible Guest or one or more persons allowed by a Responsible Guest to be present at the Eligible Accommodation that exceed the number of additional guests included in the booking of the applicable Listing unless permitted by the Host’s House Rules or otherwise approved by the Host before or during the course of the booking period shown in the applicable Listing. For Hosts who offer Accommodations in the State of Washington, all amounts payable by Airbnb under these Host Damage Protection Terms are secured by an insurance policy purchased by Airbnb. Such Hosts are designated as loss payees under such insurance policy. Airbnb has instructed the relevant insurance company to make direct payment to the relevant Hosts for amounts payable by Airbnb to them pursuant to these Host Damage Protection Terms.

SBA’s maximum exposure (i.e., dollars guaranteed) is $3.75 million. However, 7(a) International Trade loans may receive a maximum guaranty of 90% or $4.5 million. The amount guaranteed for working capital for the International Trade loan combined with any other outstanding 7(a) loan for working capital cannot exceed $4 million.

Such provisions should form part of the average terms and conditions of sale that every seller should have for every transaction. By automating the management of warranty agreements, businesses can save time, reduce errors, and improve customer satisfaction. With a contract management tool like Juro, businesses can automate the creation, negotiation, signing, and storage of warranty agreements up to 10x faster with powerful AI.

Meet some of our Guarantee Agreement Lawyers

In accordance with applicable accounting standards related to guarantees, the Bank defers fees collected in connection with the issuance of standby letters of credit and letters of guarantee. The fees are then recognised in income proportionately over the life of the credit agreements. The following table presents the outstanding financial guarantees. Collateral is shown at estimated market value less selling cost. Where the collateral is cash, it is shown gross including accrued income.

This Limited Guarantee is an unconditional guarantee of payment and not of collection. This Limited Guarantee is a primary obligation of the Guarantor and is not merely the creation of a surety relationship, and the Guaranteed Party shall not be required to proceed against Parent or Merger Sub first before proceeding against the Guarantor hereunder. Notwithstanding anything herein to the contrary, the Guarantor shall have the right to assert, and shall have the benefit of, any defenses to the payment of the Obligations that are available to Parent or Merger Sub under the Merger Agreement or as otherwise expressly provided in Section3(a)hereof, other than defenses arising from bankruptcy, reorganization or similar proceeding of Parent or Merger Sub.

Among other things, Advent’s proposed revisions to the draft of the Original Merger Agreement included the removal of the “go-shop” provision but accepted Forescout’s proposal related to the amount of the termination fee payable by Forescout in order to accept a superior acquisition proposal from a third party after entry into the Original Merger Agreement with Advent. No single document standing alone or operating in conjunction with fewer than all of the other documents constitutes such guarantee. It is only the combined operation of those documents that has the effect of providing a full, irrevocable and unconditional guarantee of Air T Funding’s obligations under the Capital Securities. If and to the extent that the Company does not make payments on the Junior Subordinated Debentures, Air T Funding will not pay Distributions or other amounts due on the Capital Securities. The Guarantee does not cover payment of Distributions when Air T Funding does not have sufficient funds to pay such Distributions. In such event, the remedy of a holder of the Capital Securities is to institute a legal proceeding directly against the Company for enforcement of payment of such Distributions to such holder.

The agreement should also detail any exclusions or limitations, such as damage caused by misuse https://aliexpressofficial.com/ or unauthorized repairs. Additionally, the duration of the warranty period should be clearly stated. Comprehensive coverage ensures that buyers understand their protections and recourse.

What is a guarantee in legal terms?

A warranty agreement is a legal document that sets forth the terms and conditions of a warranty. Generally, a warranty agreement specifies what products are covered under warranty, how long the coverage will last, and any limitations on the coverage. For example, an electronics company might offer its customers a limited warranty that covers defects in materials or workmanship.

Each particular state has variations on the warranties provided in this review. For new importers, or just importers who are new to importing into the US, the concept of an ‘estimated duty’ on a customs broker’s invoice for duty can sometimes be a bit of a challenge to understand. The short answer is no, and the process at play is one referred to as ‘liquidation.’ The way liquidation works is, essentially, that the amounts owed to US Customs and Border Protection (CBP), in the form of duties and taxes, remain an ‘estimate’ until they are ‘liquidated’ by CBP. This means that you pay this estimated amount, and the goods are then released. However, there is still a significant period after that during which CBP can adjust the final accounting if necessary.

With relation to the above, Kenon provided a RMB350 million ($54 million) guarantee of this financing agreement to Chery for up to 50% of Chery’s Guarantee. As at December31, 2015, Qoros had drawn down the Facility of RMB700 million ($108 million) with an interest rate of 5.39%. The fair value of the guarantee has been recorded in the financial statements.

“Eligible Accommodation” means an Accommodation located in the Territory that can be used as a residence and that is (i) owned or legally controlled by you as a Host during the period of the Responsible Guest’s stay at such Accommodation and (ii) listed by you on the Airbnb Platform and booked by such Responsible Guest in compliance with the Terms. A vehicle (including, but not limited to, automobiles, scooters, vespas, and motorcycles) or a watercraft (including, but not limited to, boats, yachts, jet skis and similar craft) booked through the Airbnb Platform constitutes an “Eligible Accommodation” only to the extent it is stationary and used solely for lodging purposes. These Host Damage Protection Terms do not affect your statutory rights, except to the extent permitted by law in respect of residents outside of the UK and EU. If you would like a written copy of these Host Damage Protection Terms, please email us.

If you have filed a Host Damage Protection Payment Request Form and such a payment request is approved in whole or in part for an Eligible Loss (any such approved payment request, an “Approved Payment Request”), you will be paid the amount of the Eligible Loss as calculated by Airbnb or its designees. The process for such calculation of Eligible Losses is described under “Determination of the Amount of the Eligible Loss” below. You will be notified by Airbnb and, as a condition of payment hereunder, you will be required to deliver to Airbnb an executed Host Damage Protection Approved Payment Request Agreement. Airbnb or its designees may use third party service providers to assist in the processing of Host Damage Protection Payment Request Forms and the investigation and evaluation of payment requests relating thereto. In its simplest form, a “warranty” is merely another form of “contract” which binds a party to perform in a specified way, either in terms of providing a product that accomplishes a specified task or in delivering a service that provides certain minimal benefits.