Common use of Irrevocability of a Payment Order Clause in Contracts

Irrevocability of a Payment Order. The Payment Order validly given by an Account Holder is irrevocable for the Account Holder. The Account Holder will not be able to request cancellation of the Payment Order. However, Lemonway may block any Payment Order in the event of a suspected fraud or violation of anti-money laundering and combating the financing of terrorism (AML-CFT) applicable rules. Payment Orders are subject to the prior consent of the Payer or the Account Holder. In the absence of such consent, the Transaction or series of payment Transactions shall be deemed not authorised. The consent may be withdrawn by the Payer as long as the Payment Order has not acquired a character of irrevocability in accordance with the provisions of article L. 133-8 of the French Monetary and Financial Code. When the Payment Transaction is initiated by the Beneficiary or by the Payer who gives a Payment Order through the Beneficiary, the Payer cannot revoke the Payment Order after having transmitted the Payment Order to the Beneficiary or given the Beneficiary his/her consent to execute the Payment Transaction. Consent to execute a series of Payment Transactions may also be withdrawn, with the effect that any subsequent Transaction shall be deemed unauthorised.

Irrevocability of a Payment Order. The Payment Order validly given by an Account Holder is irrevocable for the Account HolderHolder as of the entry of a single- use code in accordance with article 5.1. The Account Holder will not be able to request cancellation of the Payment Order. However, Lemonway may block any Payment Order in the event of a suspected fraud or violation of anti-money laundering and combating the financing of terrorism (AML-CFT) applicable rules. Payment Orders are subject to the prior consent of the Payer or the Account Holder. In the absence of such consent, the Transaction or series of payment Transactions shall be deemed not authorised. The consent may be withdrawn by the Payer as long as the Payment Order has not acquired a character of irrevocability in accordance with the provisions of article L. 133-8 of the French Monetary and Financial Code. When the Payment Transaction is initiated by the Beneficiary or by the Payer who gives a Payment Order payment order through the Beneficiary, the Payer cannot revoke the Payment Order payment order after having transmitted the Payment Order to the Beneficiary or given the Beneficiary his/her his consent to execute the Payment Transaction. Consent to execute a series of Payment Transactions may also be withdrawn, with the effect that any subsequent Transaction shall be deemed unauthorised.

Irrevocability of a Payment Order. The Payment Order validly given by an Account Holder is irrevocable for the Account HolderHolder as of the entry of a single- use code in accordance with article 5.1. The Account Holder will not be able to request cancellation of the Payment Order. However, Lemonway may block any Payment Order in the event of a suspected fraud or violation of anti-money laundering and combating the financing of terrorism (AML-CFT) applicable rules. Payment Orders are subject to the prior consent of the Payer or the Account Holder. In the absence of such consent, the Transaction or series of payment Transactions shall be deemed not authorised. The consent may be withdrawn by the Payer as long as the Payment Order has not acquired a character of irrevocability in accordance with the provisions of article L. 133-8 of the French Monetary and Financial Code. When the Payment Transaction is initiated by the Beneficiary or by the Payer who gives a Payment Order through the Beneficiary, the Payer cannot revoke the Payment Order after having transmitted the Payment Order to the Beneficiary or given the Beneficiary his/her his consent to execute the Payment Transaction. Consent to execute a series of Payment Transactions may also be withdrawn, with the effect that any subsequent Transaction shall be deemed unauthorised.