CERTIFICATE FROM BENEFICIARY Clause Samples
The 'Certificate from Beneficiary' clause requires the beneficiary of a contract or financial instrument to provide a formal written statement or certificate confirming the occurrence of certain events or the fulfillment of specific conditions. Typically, this certificate must be submitted before the beneficiary can claim payment or enforce certain rights under the agreement; for example, a beneficiary might need to certify that a default has occurred before drawing on a letter of credit. This clause ensures that claims or demands are substantiated and documented, thereby reducing the risk of fraudulent or unsupported claims and providing clarity and assurance to all parties involved.
CERTIFICATE FROM BENEFICIARY. For the purposes of determining the amount of any payment to be made to any Beneficiary pursuant hereto the Security Trustee shall be entitled to call for and rely upon (and it is the intention of the parties that the Security Trustee shall rely upon) a certificate from the relevant Beneficiary of the amount and nature of any amount due, owing or incurred to the relevant Beneficiary at the date fixed by the Security Trustee for such purpose and as to such other matters as the Security Trustee may deem necessary or desirable to enable it to make a distribution.