Source: http://regulations.delaware.gov/AdminCode/title7/1000/1300/Split1351/1351-12.shtml
Timestamp: 2019-02-23 05:44:15
Document Index: 357785575

Matched Legal Cases: ['§2', '§2', '§2', '§2', '§3', '§1', '§2', '§2', '§2', '§2', '§2', '§2', '§1', '§2']

Form B: Guarantee
Guarantee made this [Date] by [Name of guaranteeing entity], a business entity organized under the laws of the State of [name of state], herein referred to as Guarantor, to the Department of Natural Resources and Environmental Control (Department) and to any and all third parties, and obligees, on behalf of [Owner or Operator] of [Business Name and Address].
(1)	Guarantor meets or exceeds the financial test criteria of Part F, §§2.2.1 or either §2,2,2 or §2.2.3
of the Delaware Regulations Governing Underground Storage Tank Systems and agrees to comply with
the requirements for Guarantors as specified in Part F, §2.3 of the Delaware Regulations
Governing Underground Storage Tank Systems.
(2)	[Owner or Operator] owns or operates the following Underground Storage Tank Systems covered by this
[Attach Part F, §3.18. Form R, Tank Schedule, of the Delaware Regulations Governing
Underground Storage Tank Systems, listing each UST System assured by this Guarantee.]
This guarantee satisfies Part F, §1.3 of the Delaware Regulations Governing Underground Storage Tank Systems for assuring funding for [insert: "taking corrective action" and/or "compensating third parties for Bodily Injury and Property Damage"] caused by Accidental Releases; (if coverage is different for different UST Systems or locations, indicate the type of coverage applicable to each UST or location) arising from operating the above-identified UST Systems in the amount of [insert dollar amount] per Occurrence and [insert dollar amount] Annual Aggregate.
(3)	[Insert appropriate phrase: "On behalf of our subsidiary" (if Guarantor is corporate parent of the Owner or Operator); "On behalf of our affiliate" (if Guarantor is a related firm of the Owner or Operator); or "Incident to our business relationship with" (if Guarantor is providing the guarantee as an incident to a Substantial Business Relationship with Owner or Operator)] [Owner or Operator], Guarantor guarantees to the Department and to any and all third parties that:
In the event that [Owner or Operator] fails to provide alternate coverage within sixty (60) days after receipt of a notice of cancellation of this guarantee and the Department has determined or suspects that a Release has occurred at an UST Facility covered by this guarantee, the Guarantor, upon instructions from the Department, shall fund a standby trust fund in accordance with the provisions of Part F, §2.12 of the Delaware Regulations Governing Underground Storage Tank Systems in an amount not to exceed the coverage limits specified above.
In the event that the DNREC determines that [Owner or Operator] has failed to
perform corrective action for Release arising out of the operation of the above-identified Underground Storage Tank System(s) in accordance with Part E of the Delaware Regulations Governing Underground Storage Tank Systems, the Guarantor upon written instructions from the DNREC shall fund a standby trust fund in accordance with the provisions of Part F, §2.12 of the Delaware Regulations Governing Underground Storage Tank Systems in an amount not to exceed the coverage limits specified above.
If [Owner or Operator] fails to satisfy a judgment or award based on a determination of
liability for Bodily Injury or Property Damage to third parties caused by Accidental Releases arising from the operation of the above-identified UST Systems, or fails to pay an amount agreed to in settlement of a claim arising from or alleged to arise from such injury or damage, the Guarantor, upon written instructions from the Department, shall fund a standby trust fund in accordance with the provisions of Part F, §2.12 of the Delaware Regulations Governing Underground Storage Tank Systems to satisfy such judgment(s), award(s), or settlement agreement(s) up to the limits of coverage specified above.
(4)	Guarantor agrees that if, at the end of any fiscal year before cancellation of this guarantee, the Guarantor fails to meet the financial test criteria of Part F §2.2.1 and either §2.2.2 or §2.2.3 of the Delaware Regulations Governing Underground Storage Tank Systems, Guarantor shall send within 120 days of such failure, by Verifiable Service, notice to [Owner or Operator]. The guarantee will terminate 120 days from the date of receipt of the notice by [Owner or Operator] as evidenced by Verifiable Service.
(5) Guarantor agrees to notify [Owner or Operator] by Verifiable Service of a voluntary or
involuntary proceeding under Title 11 (Bankruptcy), U.S. Code, naming Guarantor as debtor, within 10 days after commencement of the proceeding.
(6)	Guarantor agrees to remain bound under this guarantee notwithstanding any modification or alteration of any obligation of [Owner or Operator] pursuant to these Regulations.
(7) Guarantor agrees to remain bound under this guarantee for so long as [Owner or Operator]
must comply with the applicable financial responsibility requirements of these regulations for the above-identified UST Systems, except that Guarantor may cancel this guarantee by sending notice by certified mail to[Owner or Operator] such cancellation to become effective no earlier than 120 days after receipt of such notice by[Owner or Operator] as evidenced by the return receipt.
(b)	Bodily Injury to an employee of [Owner or Operator] arising from, and in the course of, employment by [Owner or Operator];
(d)	Property Damage to any property owned, rented, loaned to, in the care of, custody, or control of, or occupied by [Owner or Operator] that is not the direct result of a Release from an UST System;
(e)	Bodily Injury or Property Damage for which [Owner or Operator] is obligated to pay damages by reason of the assumption of liability in a contract or agreement other than a contract or agreement entered into to meet the Requirements of Part F, §1.3 of the Delaware Regulations Governing Underground Storage Tank Systems.
(9)	Guarantor expressly waives notice of acceptance of this guarantee by the Department, by any or all third parties, or by [Owner or Operator].
I hereby certify that the wording of this guarantee is identical to the wording specified in Part F, §2.3 of the Delaware Regulations Governing Underground Storage Tank Systems as such Regulations were constituted on the effective date shown immediately below.