Disposal Procedures Certificate Sample Clauses
The Disposal Procedures Certificate clause requires a party to provide formal documentation confirming that certain assets, materials, or information have been disposed of in accordance with agreed procedures. Typically, this involves the responsible party issuing a certificate after securely destroying confidential documents, equipment, or data, often at the end of a contract or upon request. This clause ensures accountability and provides proof that sensitive items have been handled properly, thereby reducing the risk of unauthorized disclosure or misuse.
Disposal Procedures Certificate. Where the Disposal Agent has not sold the Disposal Assets by the Disposal Date:
(a) if the Disposal Agent determines (acting in good faith) that it has complied in all material respects with the relevant procedures under this Base Condition 10, the Disposal Agent shall deliver a Disposal Procedures Certificate to the Issuer upon the Disposal Date; or
(b) if a Disposal Procedures Failure has occurred, any successor Disposal Agent appointed pursuant to Base Condition 9.4 shall use its reasonable endeavours to dispose of the Disposal Assets by the date falling 40 Business Days following the Disposal Date (the “Disposal Cut-off Date”) in accordance with the procedure set out in Base Conditions 10.1 to 10.3, which procedure shall apply mutatis mutandis.