Revocation of the Management and Recovery Mandate Sample Clauses

Revocation of the Management and Recovery Mandate a) Crédit Agricole Leasing & Factoring reserves the right to revoke the Management and Recovery Mandate by registered letter with acknowledgement of receipt, in the following cases: However, upon express written consent of Crédit Agricole Leasing & Factoring, the Client will be authorised to continue operating the Management and Recovery Mandate until the Balance has been cleared, in the case of termination of the factoring Agreement at the Client’s own initiative, or at the initiative of Crédit Agricole Leasing & Factoring. · Revocation may occur independently of the termination event provided for under Article 14 of this Agreement, in the case where Crédit Agricole Leasing & Factoring notes a significant or repeated failure in the implementation of the provisions of Article 4-1, of a nature likely to significantly impair the interests of Crédit Agricole Leasing & Factoring, concerning assigned Receivables. In this case, the Client must continue to implement the effects of the factoring Agreement with no Management and Recovery Mandate. In this respect, the factoring commission will be subject to review under Article 10-1 of this contract, applicable to invoices issued and assigned after the revocation of the Mandate In both cases above, the revocation of the Management and Recovery Mandate takes effect on the date of receipt by the Client of notice of the revocation of the Management and Recovery Mandate or, at the discretion of Crédit Agricole Leasing & Factoring, on any subsequent date as may be specified in the notice of revocation. b) With effect from the date of the revocation of the Management and Recovery Mandate: · Crédit Agricole Leasing & Factoring shall assume responsibility for the recovery of Receivables transferred before the revocation date and shall inform the Buyer by notice. · The Client must inform its Buyers of the changed situation by letter, the text of which must be submitted for approval by Crédit Agricole Leasing & Factoring · All copies of invoices issued after the date of effect of the revocation must necessarily mention the payment terms, the due date and, conspicuously, the following statement of subrogation: