Rbc Application And Agreement For Standby Letter Of Credit Or Guarantee
« applicant, » the person listed in the electronic return for a balance and listed in a credit that can be issued on the basis of such an application; « security breach, » any breach of service security or any actual or threatened use of the service, security device or electronic channel, in a manner contrary to this agreement, including, but not limited to the introduction of a deactivation code or virus into the service; 16. Guarantees. The client assures and guarantees to the Royal Bank that the performance, supply and compliance of these conditions are duly authorized by all necessary acts and (ii) (a) does not contravene the Charter, to the unanimous statutes or shareholders` pact to which it is subject, or (b) to a violation, delay or violation of an agreement, instrument, judgment, decree, statute, rule or regulation that leads to the client or one of his assets. « electronic communications »: any information, disclosure, request or other agreement that is sent, received or accepted through an electronic channel; 4. Eligible candidates. The client may identify himself in writing with the Royal Bank with other companies and/or direct or indirect subsidiaries of the client who, together with the client, have the right to submit credit applications (other companies and subsidiaries of customers together form the « eligible applicants »). The client assures and guarantees to the Royal Bank that the client and other legitimate candidates (if any) can use the service to submit a credit application under which the « applicant » listed in the application may be an authorized client or candidate. Whether it is indicated in the credit application or in a credit that may be issued as a result of such a request, the customer or any other legitimate applicant, liability for such credit is recorded in the name and on behalf of the Customer and this credit is issued on and subject to these conditions. Secured bonds and standby letters of credit provide businesses with additional protection for their business or customers, performance or financial obligations. We may provide guarantees on your behalf or obtain and validate guarantees from other banks on your behalf. 23.
No renunciation. No breach, exercise and delay in exercise by the Royal Bank, a right, power or privilege of that right can be considered a waiver of that right, nor the partial or unique exercise of another right, other power or privilege excludes other rights, powers or privileges. No modification, modification or waiver of a provision of these conditions is effective, unless it is written, duly signed by Royal Bank and the client, and then the amendment, modification or waiver will be effective only in the specific case, for the specific purpose and for the specific duration for which it is given by the Royal Bank. These conditions and obligations under this framework are in addition, not as a substitute, to other obligations or guarantees held by the Royal Bank to meet these obligations. The remedies are cumulative and are not only other rights or remedies provided by law, capital or as part of an agreement or instrument. If your Relationship Manager has confirmed that you have a line of credit to support these institutions, select the most suitable product for your business and apply online with one of our simple application forms below.