Common use of Practice note Clause in Contracts

Practice note. It is not clear whether, if the Retailer went into receivership and the Retailer is a customer of the Bank, the Bank would be prepared to waive any right of set off. The Distributor is advised to check with the Bank if the Retailer uses the same bank. Paragraph (d) of clause 12.24 below requires the Retailer to inform the Distributor of the bank(s) the Retailer uses.

Practice note. It is not clear whether, if the Retailer went into receivership and the Retailer is a customer of the Bank, the Bank would be prepared to waive any right of set off. The Distributor is advised to check with the Bank if the Retailer uses the same bank. Paragraph (d) of clause 12.24 below requires the Retailer to inform the Distributor of the bank(s) the Retailer uses.

Practice note. It is not clear whether, if the Retailer went into receivership and the Retailer is a customer of the Bank, the Bank would be prepared to waive any right of set off. The Distributor is advised to check with the Bank if the Retailer uses the same bank. Paragraph (d) of clause 12.24 below requires the Retailer to inform the Distributor of the bank(s) the Retailer uses.

Practice note. It is not clear whether, if the Retailer went into receivership and the Retailer is a customer of the Bank, the Bank would be prepared to waive any right of set off. The Distributor is advised to check with the Bank if the Retailer uses the same bank. Paragraph (d) of clause 12.24 below requires the Retailer to inform the Distributor of the bank(s) the Retailer uses.)