Common use of Open Account Stop Ship Status Clause in Contracts

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 Dealer's Open Account on Stop Ship status. CNHi Capital will provide prompt oral and written notification to CNHi America of such Stop Ship status. CNHi Capital shall advise CNHi America of the reason for any Stop Ship status and actions necessary to reinstate CNHi America Open Account Terms. Upon notification of such Stop Ship status, CNHi America 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, 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 ’s Open Account on Stop Ship status. CNHi Capital will provide prompt oral and written notification to CNHi America of such Stop Ship statusstatus to CNHi. CNHi Capital shall advise CNHi America of the reason for any Stop Ship status and actions necessary to reinstate CNHi America such Dealer’s Open Account Terms. Upon notification of such Stop Ship status, CNHi America shall not ship any additional parts to the affected Dealer, Dealer or invoice any other miscellaneous charges to the affected Dealer’s open accountOpen Account.

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