Specified Customer definition
Examples of Specified Customer in a sentence
As of each date reported by Borrowers, all Accounts and Credit Card Receivables which any Borrower has then reported to Agent as then being Eligible Accounts, Eligible Specified Customer Accounts or Eligible Credit Card Receivables, as the case may be, comply in all respects with the criteria for eligibility set forth in the definition of “Eligible Accounts”, “Eligible Specified Customer Accounts” or “Eligible Credit Card Receivables”, as applicable.
None of the Specified Customers has (i) provided written notice to the Company that it intends to materially reduce the dollar amount of sales attributable to such Specified Customer, or (ii) either provided written notice or, to the Knowledge of the Company, otherwise notified the Company that it intends to terminate its business relations with the Company.
If (i) the applicable Company does not deliver a proposal to be submitted within five business days of receiving the Notice, or (ii) the Specified Customer chooses to reject such Company’s proposal for any reason, Seller shall have no further obligation to Purchaser or the Companies and shall be free to submit its own proposal or that of another third party at any time to the Specified Customer and perform the requested services.
Upon Seller’s payment of the Cash Payment to IMEA, Seller shall have no rights to the return or other reimbursement of the Cash Payment, and the Cash Payment shall be deemed to be Performance Assurance (as defined by the IMEA Contract) provided to IMEA by the Marketing Company, and Seller shall be deemed to have satisfied all of its obligations to IPH pursuant to this Section 5.9(a) with respect to the Specified Customer Guarantee.
No later than November 30, 2015, Seller, on behalf of the Marketing Company, shall deliver to IMEA cash in an amount (such amount, the “Cash Payment”) equal to the difference, if any, of (A) $25,000,000 minus (B) any amount that Seller has paid to IMEA pursuant to the Specified Customer Guarantee following the Closing, such amount to be delivered by wire transfer of immediately available funds to an account to be specified by IMEA.