Common use of Right of Disposal Clause in Contracts

Right of Disposal. 3.1 The Account Holder hereby grants eSett an unconditional and exclusive right of disposal over the balance on the Pledged Cash Account, to be utilised in accordance with the Imbalance Settlement Agreement (with its Appendices). 3.2 The Account Holder irrevocably instructs and authorises, without any further permission from the Account Holder, the Settlement Bank to comply with the terms of any written notice or instruction relating to the Pledged Cash Account issued by eSett. 3.3 The Settlement Bank may not oppose such notice or instruction or conduct any investigations regarding the validity of such notices or instructions save for a customary check that the instructions are given by an authorised party and, if applicable, any other checks required by applicable mandatory law, including but not limited to know-your-customer checks. 3.4 The right of disposal under Section 3.1 may not be revoked or amended by the Account Holder and shall remain in effect until eSett has confirmed in writing that the account is no longer required for the Nordic Imbalance Settlement and the right of disposal can be revoked. 3.5 The Account Holder may not pledge the Pledged Cash Account to third parties even with priority after eSett.

Right of Disposal. 3.1 The Account Holder hereby grants eSett an unconditional and exclusive right of disposal over the balance on the Pledged Cash Account, to be utilised in accordance with the Imbalance Settlement Agreement (with its Appendices). 3.2 The Account Holder irrevocably instructs and authorises, without any further permission from the Account Holder, the Settlement Bank to comply with the terms of any written notice or instruction relating to the Pledged Cash Account issued by eSett. 3.3 The Settlement Bank may not oppose such notice or instruction or conduct any investigations regarding the validity of such notices or instructions save for a customary check that the instructions are given by an authorised party and, if applicable, any other checks required by applicable mandatory law, including but not limited to know-your-customer checks. 3.4 The right of disposal under Section 3.1 may not be revoked or amended by the Account Holder and shall remain in effect until eSett has confirmed in writing that the account is no longer required for the Nordic Imbalance Settlement and the right of disposal can be revoked. 3.5 The Account Holder may not pledge the Pledged Cash Account to third parties even with priority after eSetteSett other than agreed in this Agreement.