Examples of Irrevocable Notice in a sentence
In case such a customer refuses to confirm the Irrevocable Notice, then this shall not be considered as a breach of Borrower’s undertaking under this Agreement, as long as the Borrower promptly deposits all Receivables it gets in connection with Customers Agreements in the Receivable Accounts; (ii) to deposit any Receivables received from Customers Agreements, including any insurance compensation related directly to the Receivables (if any) at the Receivables Account.
The Borrower undertakes to (i) give irrevocable instruction (within 30 days following the Closing Date) to all the parties (but the Borrower) to the Customers Agreements to transfer any amount due to Borrower in the present and/or in the future, directly to the Receivables Account (“Irrevocable Notice”) and ensure that all customers confirm the Irrevocable Notice, which confirmations shall be delivered to the Lender within 7 Business Days thereafter.