Open Account Stop Ship Status Sample Clauses
Open Account Stop Ship Status. Upon a Capital Default or if for any reason CNHi Capital deems itself insecure with respect to financing being provided to a Dealer, CNHi Capital may place such Dealer’s Open Account on Stop Ship status. CNHi Capital will provide prompt oral and written notification of such Stop Ship status to CNHi. CNHi Capital shall advise CNHi of the reason for any Stop Ship status and actions necessary to reinstate such Dealer’s Open Account Terms. Upon notification of such Stop Ship status, CNHi shall not ship any additional parts to the affected Dealer or invoice any other miscellaneous charges to the affected Dealer’s Open Account.
Open Account Stop Ship Status. Upon a Capital Default or if for any reason CNH Capital deems itself insecure with respect to financing being provided to a Dealer, CNH Capital may place such Dealer’s Open Account on Stop Ship status. CNH Capital will provide prompt oral and written notification of such Stop Ship status to CNH. CNH Capital shall advise CNH of the reason for any Stop Ship status and actions necessary to reinstate such Dealer’s Open Account Terms. Upon notification of such Stop Ship status, CNH shall not ship any additional parts to the affected Dealer or invoice any other miscellaneous charges to the affected Dealer’s Open Account.