Non-compliant Credit Notes. Credit notes that are not in accordance with usual business practices or issued in fraud of the Factor’s rights shall be deemed unenforceable against the Factor even where they have been credited to the Asset Account. Without prejudice to any and all recourse existing against the French Sellers, this rule shall apply in particular to all unsubstantiated or non-compliant Credit Notes, Credit Notes for which a written justification has not yet been provided by the relevant French Seller to the Factor five (5) Business Days following a request to that effect.
Appears in 4 contracts
Samples: Factoring Agreement, Factoring Agreement (Constellium N.V.), Factoring Agreement (Constellium Holdco B.V.)
