Contingent Guarantee

Contingent Guarantee

A guarantee made by a third party to the buyer of a good or service stating that the seller will receive payment on time and in the correct amount. If the buyer fails to make the payment, the third party will make payment on his/her behalf. Contingent guarantees, known as letters of credit, have become very common in international commerce, as distance and other factors make it difficult for sellers to establish the credit worthiness of every buyer. See also: Co-signer.
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The rating affirmation reflects the strength of the sovereign's contingent guarantee of RPICAO payments if water utility bill payments to SEDAPAL do not sufficiently cover debt service.
has issued to creditors a contingent guarantee for payment of any amounts that may be lacking for servicing of the debt of Reficar S.
The IRS apparently views a creditor under a contingent guarantee as having a prohibited interest in the trust.
The rating affirmation reflects Fitch's view of additional reliance on the sovereign's contingent guarantee rather than on the incoming water utility flows.
Under the original contingent guarantee provided by the sponsors, SCP's weak financial condition potentially exposed investors to the declaration of a technical event of default and an acceleration by the IFC; the unstructured unsecured bonds rank pari passu with the certificates and contain cross-default provisions.
Under a contingent guarantee provided by the sponsors, SCP's weak financial condition potentially exposes investors to the declaration of a technical event of default and an acceleration by the IFC; the unstructured unsecured bonds rank pari passu with the certificates and contain cross-default provisions.
The rating on State Life is tied to AUL`s rating based on AUL`s contingent guarantee of State Life`s existing and future policyholder liabilities.
5 million in cash from SigmaTel for a contingent guarantee made in November 2000 that became payable upon SigmaTel's IPO.
The rating on State Life is tied to AUL's rating based on AUL's contingent guarantee of State Life's existing and future policyholder liabilities.
The Belize government provides additional credit enhancement to both tranches with a contingent guarantee of timely payment of principal and interest.
State Life`s rating is tied to AUL`s rating based on AUL`s contingent guarantee of State Life`s existing and future policyholder liabilities.
Financial strength improves significantly due to AUL's provision of a contingent guarantee of State Life's existing and future policyholder liabilities.