The full faith and credit of the United States of America is pledged for the full payment and performance of such guarantee obligations.
That is because separate ownership is critical to the concept of keeping the debt and guarantee obligations of the two behemoths — more than $5 trillion combined — off the government's books.
The deeply unpopular debt represents the bill Britain is charging Iceland for taking over its deposit guarantee obligations to almost 300,000 UK savers who had money in Icesave online accounts offered by Landsbanki, one of three Icelandic banks that collapsed into bankruptcy protection a year ago.
This meant that the Treasury Department had no legal authority to put government money into the firm or provide a guarantee for its obligations.
The story quotes UCLA/Hammer Museum Director Henry Hopkins as saying the Codex is among works in the Hammer collection being held in escrow as a guarantee against any financial obligation that might result from a lawsuit filed in 1990 on behalf of Joan Weiss, the niece and sole heir to the fortune of Hammer's wife, Frances, who died in 1989.
The contribution of Federal funds to an infrastructure bank established under this section shall not be construed as a commitment, guarantee, or obligation on the part of the United States to any third party.
Any security or debt financing instrument issued by the infrastructure bank shall expressly state that the security or instrument does not constitute a commitment, guarantee, or obligation of the United States.
The contribution of Federal funds into an infrastructure bank established under this section shall not be construed as a commitment, guarantee, or obligation on the part of the United States to any third party, nor shall any third party have any right against the United States for payment solely by virtue of the contribution.
No financial obligation of an eligible entity entered into pursuant to this section (such as an obligation under a guarantee, bond, note, evidence of debt, or loan) shall be an obligation of, or guaranteed in any respect by, the United States.
General obligation bonds carry a guarantee in the Puerto Rico constitution stipulating that debt must be repaid before just about any other expense.
As part of the sale of its convenience stores, Morrisons retained a guarantee on a number of lease obligations, meaning that they will revert to the supermarket if My Local collapses.
