Significant Detrimental Effect definition
Significant Detrimental Effect refers to a change which, in the well-considered opinion of Crédit Agricole Leasing & Factoring, may have a detrimental effect on (i) the business, the operations, the property, the Assets or the financial situation (including the consequences of any debts on these) of the CMI, Clients or Twist Beauty Packaging Sarl & Partners SCA (Luxembourg register no. B-161913) (ii) the ability of the CMI, the Clients or Twist Beauty Packaging Sarl & Partners SCA (Luxembourg register no. B-161913), to perform their obligations under this contract, which are essential to the rights and interests of Crédit Agricole Leasing & Factoring, (iii) the recoverable nature (other than through insolvency of the Debtor) of the business debts or the rights and interests of Crédit Agricole Leasing & Factoring in the Debts or (iv) the rights or profits of Crédit Agricole Leasing & Factoring under this contract and the related documents which are essential to the interests of Crédit Agricole Leasing & Factoring. Refers to the currency which is currently legal tender in the European Union. Refers to an invoice for Products sold or rented or for services rendered under a contract or agreement by virtue of which the Debtor’s obligation to pay the invoice is dependent on the Client concerned performing any other obligations under that contract or agreement.