Hermes Cover definition

Hermes Cover means the export credit guarantee (Exportkreditgarantie) on the terms of Hermes’ Declaration of Guarantee (Gewährleistungs-Erklärung) for [*] of the principal amount of the Loans and any interests and secondary financing costs of the Federal Republic of Germany acting through Euler Hermes Kreditversicherungs-AG for the period of the Loans on the terms and conditions applied for by the Lenders, and shall include any successor thereto (it being understood that the Hermes Cover shall be issued on the basis of Hermes’ applicable Hermes guidelines (Richtlinien) and general terms and conditions (Allgemeine Bedingungen)).
Hermes Cover means the guarantee from the Federal Republic of Germany acting through Hermes for the period of the transaction in the amount and on the terms and conditions required by the Lenders;
Hermes Cover means the export credit guarantee (Exportkreditgarantie) on the terms of Hermes’ Declaration of Guarantee (Gewährleistungs-Erklärung) for 95% of the principal amount of the Loans and any interests and secondary financing costs of the Federal Republic of Germany acting through Euler Hermes Aktiengesellschaft for the period of the Loans on the terms and conditions applied for by the Lenders, and shall include any successor thereto (it being understood that the Hermes Cover shall be issued on the basis of Hermes’ applicable Hermes guidelines (Richtlinien) and general terms and conditions (Allgemeine Bedingungen)).

Examples of Hermes Cover in a sentence

  • Export Credit Guarantees (so­called Hermes Cover) protectGerman exporters and banks financing exports against political and commercial risks.

  • Only conflicts between players from the same school or if players have played each other in one of the previous rounds of play in this tournament will be resolved.

  • The exporter has contractual obligations under the export (credit) contract, Hermes Cover 2 and the for- faiting contract entered into with the bank buying the receivable.

  • However, risks which can normally be insured out­ side Hermes Cover, e.g. the risk of theft, are not covered.

  • Hence the KfW is, through the existing Hermes Cover, 100 % protected against default on the purchased export loans.

  • Detailed information on these additional forms of cover can be found in the brochure Hermes Cover Special Multi-sourcing projects.

  • Indeed, KfW will only purchase loans which are currently covered by a 100% State guarantee (Hermes Cover).

  • The recoveries expected under these will be transferred to the Federal Budget Accounts Export Credit Guarantees of the Federal Republic of Germany Hermes Cover Annual Report 2002 Federal Minister of Economics and Labour The export credit guarantees given by the Federal Republic of Germany make a substantial contribution to ensuring the competitiveness of German exporting industry in the inter- national arena.

  • For Hermes Cover click&cover BANK, application fees are charged according to item 1.1. Separate issuing fees are not payable because they are included in the overall premium.

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More Definitions of Hermes Cover

Hermes Cover means the export credit guarantee (Exportkreditgarantie) on the terms of Hermes’ Declaration of Guarantee (Gewährleistungs-Erklärung) for 100% of the principal amount of the Loans and any interests and secondary financing costs of the Federal Republic of Germany acting through Euler Hermes Aktiengesellschaft for the period of the Loans on the terms and conditions applied for by the Lenders, and shall include any successor thereto (it being understood that the Hermes Cover shall be issued on the basis of Hermes’ applicable Hermes guidelines (Richtlinien) and general terms and conditions (Allgemeine Bedingungen)). ​ -20- ​ ​ ​
Hermes Cover means the export credit cover (Finanzkreditdeckung) provided by HERMES securing the repayment of up to ninety-five per cent (95%) of the Loan granted hereunder and the payment of a substantial part of the interest payable by the Borrower pursuant to the provisions of this Loan Agreement;
Hermes Cover means the export credit guarantee (Exportkreditgarantie) on the terms of Hermes’ Declaration of Guarantee (Gewährleistungs-Erklärung) for [*]% of the principal amount of the Loans and any interests and secondary financing costs of the Federal Republic of Germany acting through Euler Hermes Aktiengesellschaft for the period of the Loans on the terms and conditions applied for by the Lenders, and shall include any successor thereto (it being understood that the Hermes Cover shall be issued on the basis of Hermes’

Related to Hermes Cover

  • Arranger Fee Letter means that certain Arranger Fee Letter related to this Agreement, entered into by the Company and dated November 23, 2015.

  • protection and indemnity risks means the usual risks covered by a protection and indemnity association managed in London, including pollution risks and the proportion (if any) of any sums payable to any other person or persons in case of collision which are not recoverable under the hull and machinery policies by reason of the incorporation in them of clause 6 of the International Hull Clauses (1/11/02 or 1/11/03), clause 8 of the Institute Time Clauses (Hulls) (1/11/95) or clause 8 of the Institute Time Clauses (Hulls) (1/10/83) or the Institute Amended Running Down Clause (1/10/71) or any equivalent provision;

  • ancillary services undertaking means an undertaking the principal activity of which consists in owning or managing property, managing data-processing services, or any other similar activity which is ancillary to the principal activity of one or more credit institutions;

  • letter agreement constitutes a Confirmation" as referred to in the ISDA Master Agreement specified below. The definitions and provisions contained in the 2000 ISDA Definitions, as supplemented by the Annex to the 2000 ISDA Definitions, each published by the International Swaps and Derivatives Association, Inc. (collectively, the "Definitions"), are incorporated in this Confirmation. In the event of any inconsistency between those Definitions and this Confirmation, this Confirmation will govern.

  • Facility Letter means the facility letter and the other letters of offer or other letters which may from time to time be issued by the Bank to the Borrower in relation to the Facilities.

  • Ancillary Facility means any ancillary facility made available by an Ancillary Lender in accordance with Clause 6 (Ancillary Facilities).

  • Facility A means the term loan facility made available under this Agreement as described in paragraph (a) of Clause 2.1 (The Facilities).

  • insurance undertaking means insurance undertaking as defined in point (1) of Article 13 of Directive 2009/138/EC of the European Parliament and of the Council of 25 November 2009 on the taking-up and pursuit of the business of Insurance and Reinsurance (Solvency II) (1);

  • MLPFS means Xxxxxxx Lynch, Pierce, Xxxxxx & Xxxxx Incorporated.

  • Mandate Letter has the meaning ascribed to it in the Memorandum of Understanding between MOHLTC and the LHIN, and means a letter from the Minister to the LHIN establishing priorities in accordance with the Premier’s mandate letter to the Minister.

  • reinsurance undertaking means reinsurance undertaking as defined in point (4) of Article 13 of Directive 2009/138/EC;

  • Facility Agreements means the agreements of that name between the Issuer and different

  • Engagement Letter means that certain Engagement Letter, dated as of June 18, 2015, by and among the Borrower and the Arrangers.

  • Ancillary equipment means any device including, but not limited to, such devices as piping, fittings, flanges, valves, and pumps, that is used to distribute, meter, or control the flow of hazardous waste from its point of generation to a storage or treatment tank(s), between hazardous waste storage and treatment tanks to a point of disposal onsite, or to a point of shipment for disposal off-site.

  • Bookrunners as defined in the preamble hereto.

  • insurance broker means an insurance brokerage firm,

  • Facility Agreement means an agreement or arrangement between a State Party and the Organization relating to a specific facility subject to on-site verification pursuant to Articles IV, V and VI.

  • Arrangers as defined in the preamble hereto.

  • Finance Parties means the Agents, the Arrangers, the Bookrunners, the Security Trustee, the Lenders and each Hedge Counterparty and “Finance Party” means any of them.

  • Arranger Fee means a fee charged by the Arranger in relation to each Series of ETP Securities, as modified by the Arranger from time to time, as set out in the Base Prospectus of the Issuer.

  • Letter of Undertaking means the letter of undertaking from, amongst others, the Issuer and its Managing Directors to the Initial Purchaser, Investment Manager and the Trustee.

  • Ancillary Lender means each Lender (or Affiliate of a Lender) which makes available an Ancillary Facility in accordance with Clause 7 (Ancillary Facilities).

  • Fee Letters means, collectively, (a) the Arranger Fee Letter and (b) the Administrative Agent Fee Letter.

  • Replacement cost for houses and other structures means the prevailing cost of replacing affected structures, in an area and of the quality similar to or better than that of the affected structures. Such costs will include: (a) transporting building materials to the construction site; (b) any labor and contractors’ fees; and (c) any registration costs.

  • Co-Arrangers has the meaning specified in the recital of parties to this Agreement.

  • group of undertakings means a controlling undertaking and its controlled undertakings;