Credit Protection Clause Samples
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Credit Protection. Consultation, advice, and preparation of clarification letter(s) relating to billing disputes and collection agency harassment. District Court representation is provided if applicable. This does not include credit recovery action(s) or extensive credit negotiations.
Credit Protection. 15.6.1 A CCMs published block will not be adjusted for the purposes of credit balancing.
a) If a CCM accepts a pairing on a GDO or goes unforeseen to extend a duty day beyond 14/15 hours or is affected by Management Displacement and this results in an awarded pairing being removed, he will not lose the credit for the removed pairing. If the CCM is reassigned during the period of the removed pairing, he will receive the greater of the original removed pairing credit or the actual pairing credit worked.
b) If the CCM prefers not to be reassigned he may request to be released and will not receive credit(s).
Credit Protection. In the inspection of driving records, the Employer will be limited to use of either the DMV pull notices or Motor Vehicle Record checks, and the Employer is further limited in the scope of this search to inspecting only current, valid driving records. The Employer agrees that use of DMV pull notices and MVR checks will not include personal records other than current driving records, and violation of this provision will be subject to the grievance procedure.
Credit Protection. Automatic Credit Protection Limit United Kingdom, Ireland, the Isle of Man and the Channel Islands: £ 3,000 Other countries: N/A Credit Protection Percentage United Kingdom, Ireland, the Isle of Man and the Channel Islands: 100 per cent Other countries: 90 per cent First Loss United Kingdom, Ireland, the Isle of Man and the Channel Islands: £ 1,000 Other countries: £ 1,000 Unprotected Debts at the Commencement Date At the Commencement Date any Debt which is unpaid 60 days or more after the due date for payment and any other Debts of the same Customer
Credit Protection. If the Client has Credit Protection (which is only available in conjunction with at least one other product provided by HIF):
11.1 HIF will provide an Automatic Credit Protection Limit for an existing or a new Customer domiciled in the United Kingdom, Ireland, the Isle of Man and the Channel Islands in the amount specified in the Agreement, provided that neither the Client nor HIF is aware of any adverse information in respect of that Customer, reasonable enquiries having been made by the Client.
11.2 HIF may, at HIF's discretion, establish a Credit Protection Limit following a request by the Client. If a Credit Protection Limit is lower than the Automatic Credit Protection Limit, the Credit Protection Limit will apply.
11.3 HIF may, by notice to the Client, increase, reduce or cancel a Credit Protection Limit with immediate effect, but the reduction or cancellation of a Credit Protection Limit will be without prejudice to existing Credit Protected Debts.
11.4 A Debt will not be a Credit Protected Debt if:
(a) its Notification causes the Credit Protection Limit to be exceeded (and for the purpose of determining the Debts which are Credit Protected, the Debts due from the relevant Customer will be taken in the order they become due for payment); or
(b) the Client is in breach of any warranty or undertaking relating to it; or
(c) it is in respect of interest; or
(d) it is within First Loss; or
(e) it is an Existing Debt which is 60 days or more past Due Date; or
(f) payment does not arise due to Force Majeure; or
(g) the Client has failed to comply with its obligations under Condition 11.5; or
(h) it is outstanding on the Termination Date (even if previously a Credit Protected Debt and a Credit Protection Payment has been made by HIF to the Client); or
(i) it is that part of the Debt applicable to VAT; or
(j) it has been created on payment terms not approved by HIF in writing or otherwise agreed by HIF in writing.
11.5 This Condition is applicable if the Client does not have Credit Management. If a Credit Protected Debt remains unpaid on the earliest of (i) 60 days past Due Date (ii) 120 days from the date of the Invoice and (iii) such other time as HIF may specify in writing, the Client will:
(a) within 7 days notify the relevant Customer that all its Debts have been assigned to HIF; and
(b) within 15 days submit to HIF instructions to collect in the form determined by HIF and provide HIF with all records (in whatever form) relating to its attempted collect...
Credit Protection. If any Lender shall purchase credit protection for any of its Loan Obligations pursuant to a credit default swap, put or similar arrangement from a person that is not a Borrower or an Affiliate of the Borrower, and the credit protector has no recourse, directly or indirectly, against a Borrower or any Affiliate of the Borrower in respect of such credit protection (apart from rights arising under Loan Obligations assigned to such credit protector pursuant to such credit protection), any amounts received by such Lender pursuant to such credit protection arrangement shall not be subject to the provisions of Subsection 16.22.1.
Credit Protection. The provisions of Sections 11.22.1 and 11.22.2 shall not apply to any credit protection purchased by a Secured Party without financial assistance from or independent recourse by the protection provider to any Obligor or any of its Affiliates.
Credit Protection. The applicable credit and collateral requirements shall be as specified on the Cover Sheet and shall only apply if marked as "Applicable" on the Cover Sheet." The introductory paragraph in Section 8.2 shall be deleted in its entirety and replaced with the following: "Party B Credit Protection. The applicable credit and collateral requirements shall be as specified on the Cover Sheet and shall only apply if marked as "Applicable" on the Cover Sheet." If the Parties elect as being applicable on the Cover Sheet, the following new Sections 8.4 and 8.5 shall be added to Article Eight:
Credit Protection. A. Customer hereby grants to G1 on behalf of itself and as agent for each other Galaxy Entity a first priority security interest in and right of set-off against all Collateral to secure the discharge of all Obligations of Customer to Galaxy and all other liabilities of Customer to Galaxy or any other Galaxy Entity under any Contract, whether now existing or hereafter arising (including any interest and fees that may accrue after the commencement by or against Customer of any bankruptcy, insolvency, reorganization or similar proceeding) and irrespective of whether or not Galaxy or such other Galaxy Entity has made advances in connection with such Collateral, and irrespective of the number of accounts Customer may have with Galaxy or any other Galaxy Entity including without limitation all losses, costs and expenses (including legal costs, costs of cover and costs of establishing or unwinding any ▇▇▇▇▇▇) incurred or sustained by them in connection with their exercise of remedies hereunder and under any other Contract. Galaxy, on behalf of itself and as agent for each other Galaxy Entity, hereby notifies each other Galaxy Entity of its security interest in the Collateral and, on behalf of itself and as agent for each other Galaxy Entity, hereby acknowledges such notice and consents to the security interest granted hereby. Customer acknowledges that Galaxy and its present and future Affiliates act as agents for each other in respect of the assets subject to the foregoing security interest and that Galaxy and each such Affiliate holds Control of such assets on behalf of each other and shall, and Galaxy hereby agrees to, comply with any entitlement orders or instructions originated by any of them with respect to any Collateral or distribute any value in respect of any Collateral at the direction of any of them, in each case without any further consent of Customer. Customer agrees that Galaxy and its Affiliates may enter into one or more intercompany control agreements among themselves to give further effect to the foregoing. As used herein, “Control” refers to “control” within the meaning of Sections 9-104 and 9-106 of the NYUCC and, with respect to controllable electronic records, Section 12-105 of the Uniform Commercial Code in each jurisdiction that has enacted Article 12
Credit Protection. If the Client has Credit Protection, RBSIF will accept the Credit Risk for Approved Debts where a Credit Limit is established for the relevant Customer.