Irrevocable Instruction Sample Clauses
An Irrevocable Instruction clause establishes that a party gives binding, non-retractable directions to a third party, such as a bank or escrow agent, to perform a specific action on their behalf. For example, this might involve instructing a financial institution to release funds to another party upon fulfillment of certain conditions, and once given, the instruction cannot be changed or cancelled without the consent of all relevant parties. The core function of this clause is to provide certainty and security in transactions by ensuring that agreed-upon actions will be carried out without risk of unilateral withdrawal or alteration.
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Irrevocable Instruction. The Administrative Agent shall have received evidence satisfactory to the Administrative Agent that, in connection with any Required Payment, the payor thereof has been instructed to deliver the Net Cash Proceeds to the Collection Account, which instructions may not be modified without the prior written consent of the Administrative Agent.
Irrevocable Instruction. The Borrower shall maintain the Irrevocable Instruction and shall not instruct or vote on any matter pertaining to the Company in its capacity as a holder of share capital in the Company or otherwise in any manner that would conflict with the terms of this agreement other than in accordance with the instructions of the Lender.
Irrevocable Instruction. The Administrative Agent shall have received an executed irrevocable instruction letter in form and substance reasonably satisfactory to the Administrative Agent with respect to the accounts listed on Schedule 5.
Irrevocable Instruction. The TAMC Irrevocable Instruction is in full force and effect. To the knowledge of the Borrower, TAMC is (and has been since the most recent date as of which this representation and warranty was made) in full compliance with the TAMC Irrevocable Instruction.
Irrevocable Instruction. Any notice of cancellation given by the Principal Company pursuant to Clause 7.1 (Cancellation) shall be irrevocable and shall specify the date upon which such cancellation is to be made and the amount of such cancellation. Amounts so cancelled may not be reborrowed.