RESTITUTION DATE Sample Clauses
The 'Restitution Date' clause defines the specific date on which a party is required to return property, funds, or other assets to another party, typically following the termination or expiration of an agreement. In practice, this clause sets a clear deadline for the restitution process, ensuring that any items or payments that must be returned are handled in a timely manner. By establishing a definitive restitution date, the clause helps prevent disputes over timing and ensures both parties understand their obligations regarding the return of assets, thereby promoting fairness and clarity in the contractual relationship.
RESTITUTION DATE. 5.1 If the Notification Event is further remedied or waived, the Beneficiary shall promptly send a notice to the Accounts Holder(s) having received a Blocking Notice instructing them to unblock the Pledged Accounts and the provisions of Article 3.1 will apply again.
5.2 From the date on which the Beneficiary will notify the Account Holder(s) of the unblocking of the Pledged Accounts, the Pledgor shall again be entitled to dispose of the amounts appearing on the credit of the Pledged Accounts in accordance with the Supplemental Agreement (hereinafter the “Restitution Date”).