Cancelled P.O definition
Cancelled P.O means a P.O. (i) which has been cancelled by the Customer prior to delivery of Products to the Customer or (ii) for which the vendor of Products has failed to deliver Products conforming to specifications to the Premises on or before the Products Delivery Date.
Examples of Cancelled P.O in a sentence
Borrower is not in breach of any obligations it may have to Customer under a P.O. Borrower shall immediately notify Lender in writing if an Accepted P.O. becomes a Cancelled P.O. or a Delinquent P.O. and of any claims, returns, disputes or offsets made by a Customer regarding the Products or payment therefore.
No Advance will be made by Lender if Borrower does not have a P.O. with respect to the Products to be provided thereunder or such P.O. is not an Accepted P.O. A P.O. shall be deemed an Accepted P.O. only when (i) the P.O. is submitted pursuant to a Request Certificate, (ii) Lender shall issue an Advance with respect thereto, (iii) the P.O. shall meet each of the requirements set forth in Section 2.3 and (iv) it is not a Cancelled P.O.