In relation to a master agreement relating to financial transactions (ISDA, Repurchase Agreement; Securities Lending Agreement) , a guarantee is given by a party's credit support provider to the other party for the party's obligations. This is drafted in neutral form.
The Guarantor irrevocably and unconditionally guarantees, for the benefit of the Beneficiary upon the terms of this Guarantee, the due and punctual performance of all present and future obligations and liabilities, whether actual or contingent, of the Counterparty to make any payment under or in relation to any Contract between the Counterparty and that Beneficiary (the Liabilities) and promises to pay to that Beneficiary on demand any unpaid balance of such Liabilities in accordance with the terms of this Guarantee.
As a separate and independent primary obligation, the Guarantor irrevocably and unconditionally agrees to indemnify each Beneficiary on demand against any cost, loss or liability suffered by that Beneficiary as a result of any Liability guaranteed by the Guarantor being or becoming unenforceable or invalid because of the operation of applicable insolvency or bankruptcy laws in relation to the Counterparty. The amount of the cost, loss or liability shall be equal to the amount of the Liability which the Beneficiary would otherwise have been entitled to recover under this Guarantee.
credit support, master agreement,
securities lending agreement,
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