Guarantee and indemnity: cross guarantee from group companies—bilateral—all monies

The following Banking & Finance precedent provides comprehensive and up to date legal information covering:

  • Guarantee and indemnity: cross guarantee from group companies—bilateral—all monies
  • bACKGROUND
  • 1 Definitions and interpretation
  • 2 Guarantee and indemnity
  • 3 Waiver of defences
  • 4 Immediate recourse
  • 5 No competition
  • 6 Representations and warranties
  • 7 Undertakings
  • 8 Credit to a suspense account
  • More...

Guarantee and indemnity: cross guarantee from group companies—bilateral—all monies

This Deed of guarantee and indemnity is made on [insert day and month] 20[insert year]

Parties

  1. 1

    [Insert name of Guarantor], a company incorporated in England and Wales with registered number [insert company number] whose registered office is at [insert address] (Company A);

  1. 2

    [Insert name of Guarantor], a company incorporated in England and Wales with registered number [insert company number] whose registered office is at [insert address] (Company B);

    Company A and Company B together (the Obligors) and

  1. 3

    [Insert name of Lender], of [insert address] (the Lender).

bACKGROUND

    1. (A)

      The Lender has provided facilities to the Obligors under various financing arrangements.

    1. (B)

      It is a condition of the Lender making the facilities available to the Obligors or any of them that the Obligors enter into this Deed in favour of the Lender.

It is agreed as follows:

    1. 1

      Definitions and interpretation

      1. 1.1

        Definitions

        In this Deed[, unless otherwise provided]:

        Business Day

        1. means a day, other than a Saturday, Sunday or public holiday on which banks are open for business in London;

        Legal Reservations

        1. means:

          1. (a)

            the principle that the granting or not of equitable remedies is at the discretion of a court;

          2. (b)

            the time barring of claims under any limitation acts in any jurisdiction; and

          3. (c)

            any other principles of law applicable to companies generally;

        [Material Adverse Effect

        1. means a material adverse effect

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