Common use of COVERED OUTSTANDING Clause in Contracts

COVERED OUTSTANDING. For avoidance of doubt, it is reminded that the Current Credit Limit or the New Credit Limit, when it has been notified, sets the maximum amount covered for Deliveries made to a given Buyer, whether before or after inception of this Contract. Accordingly, during the hold cover period, Deliveries made to such Buyer are covered only up to the difference between the amount of the applicable credit limit (New Credit Limit or Current Credit Limit, as applicable) to this Buyer and the total amount of Debts, due or to be due, as per your previous contract.

COVERED OUTSTANDING. For avoidance of doubt, it is reminded that the Current Credit Limit or the New Credit Limit, when it has been notified, Limit (as applicable) sets the maximum amount covered for Deliveries made to a given Buyer, whether before or after inception of this Contract. Accordingly, during the hold cover period, Deliveries made to such Buyer are covered only up to the difference between the amount of the applicable credit limit (New Credit Limit or Current Credit Limit, as applicable) to this Buyer and the total amount of Debts, due or to be due, to this Buyer as per your previous contract.