Common use of Positive Credit Decision Clause in Contracts

Positive Credit Decision. Credit Decision which is not a Refusal or a Cancellation in- cluding Credit Decision We grant partially compared to the requested amount. Private Individual: a person who buys goods or services for a purpose other than the purpose of his professional activity. Protracted Default: failure of the Buyer to pay fully the Debt at the expiration of the waiting period, provided that such failure is not due to Insolvency, a Political Event or a Natural Disaster. Public Buyer: Buyer which is a (i) central government authority, (ii) a regional or local authority, or (iii) a department or agency thereof. Recoveries: any amounts received, whether before or after indemnification, from the Buyer or a third party in relation to the Debts arisen before the Insolvency of the Buyer, including: - any interest You or We receive on late payment - any Security You or We realize, - VAT (including credit or refund received from the fiscal authorities when the Debt was covered VAT included) - any credit note that You raise, - any value arising from the exercise of any set-off, - any proceeds of goods You have, or could have, recovered or kept. Reduction : Credit Decision whereby We reduce the amount set in a previous Credit decision.

Positive Credit Decision. Credit Decision which is not a Refusal or a Cancellation in- cluding including Credit Decision We grant partially compared to the requested amount. Private Individual: a person who buys goods or services for a purpose other than the purpose of his professional activity. Protracted Default: failure of the Buyer to pay fully the Debt at the expiration of the waiting period, provided that such failure is not due to Insolvency, a Political Event or a Natural Disaster. Public Buyer: Buyer which is a (i) central government authority, (ii) a regional or local authority, or (iii) a department or agency thereof. Recoveries: any amounts received, whether before or after indemnification, from the Buyer or a third party in relation to the Debts arisen before the Insolvency of the Buyer, including: - • any interest You or We receive on late payment - • any Security You or We realize, - • VAT (including credit or refund received from the fiscal authorities when the Debt was covered VAT included) - • any credit note that You raise, - • any value arising from the exercise of any set-off, - • any proceeds of goods You have, or could have, recovered or kept. Reduction Reduction: Credit Decision whereby We reduce the amount set in a previous Credit decision.