Acceptance Drafts Sample Clauses

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Acceptance Drafts. 22 Payment in Respect of Letters of Credit and Acceptances; Reimbursement......................... 27 2.23
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Acceptance Drafts. (a) Upon the terms and conditions hereof, the ----------------- Borrower may, from time to time from the date hereof until the Termination Date, request the Banks to accept drafts in the form of Exhibit B (each an "Acceptance Draft" and, collectively, the "Acceptance Drafts"), at the Borrower's election. (b) The Borrower shall give the Agent telephonic notice (immediately confirmed in writing) of its request that the Agent accept such Acceptance Draft no later than 1:00 p.m. (Philadelphia time) on the same day of such request (the "Acceptance Date"). Such notice shall contain the aggregate face amount (which shall be in minimum aggregate principal amounts of $1,000,000 and in integral multiples of $100,000 in excess thereof) and maturity date of such Acceptance Draft, which maturity date shall not be later than the earlier of (a) 30, 60, 90 or 120 days after the Acceptance Date of such Acceptance Draft, as the Borrower shall designate, and (b) the Termination Date. Such notices also shall describe the underlying goods and indicate their origin and destination points or provide other evidence of the underlying transaction in form and substance as may be acceptable to the Agent to permit it to accurately complete the appropriate eligibility legend (i.e., "eligibility certificate") on the face of the Acceptance Draft. The Borrower shall promptly confirm such telephonic notices by telecopy and mailing an original signed notice. Each draft shall mature on a Business Day, which shall be at least thirty (30) days after the Acceptance Date. No Acceptance Draft shall be dated or accepted more than thirty (30) days before or more than thirty (30) days after the date of the shipment of goods to which it relates. The Borrower hereby irrevocably authorizes the Agent to complete its Acceptance Draft in accordance with the instructions given pursuant to this Section 2.21. Any pre-signed drafts held by the Agent for completion shall not be affected by the departure of the signer as an authorized signatory of the Borrower, which drafts shall nevertheless remain valid and binding upon the Borrower for all purposes as if the signer's authority had continued in effect. (Such completion and presentment, however, shall not obligate the Agent to accept any such Acceptance Draft.) (c) Upon receipt of such notices from the Borrower, the Agent shall promptly notify each Bank of (i) its pro rata (based on its Revolving Credit Commitment) share of such Acceptance Draft, (ii) the matu...
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Acceptance Drafts. 43 SECTION 3.08. Payment of Acceptances . . . . . . . . . . . . 45 SECTION 3.09. Ineligibility of Acceptance Drafts . . . . . . 48 SECTION 3.10.
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Related to Acceptance Drafts

  • Acceptance/Payment Unless otherwise agreed to in writing by County, 1) acceptance shall not be deemed complete unless in writing and until all the goods/services have actually been received, inspected, and tested to the satisfaction of County, and 2) payment shall be made in arrears after satisfactory acceptance.

  • Acceptance; Rejection A holder of Notes may accept the offer to prepay made pursuant to this Section 8.8 by causing a notice of such acceptance to be delivered to the Company not later than 15 Business Days after receipt by such holder of the most recent offer of prepayment. A failure by a holder of Notes to respond to an offer to prepay made pursuant to this Section 8.8 shall be deemed to constitute rejection of such offer by such holder.

  • Order Acceptance ▇▇▇▇▇▇▇’▇ acceptance of the Order and consequent agreement to the Contract by either: (a) delivering the Goods, Services, or Digital Services; or

  • Card Acceptance When accepting a Card, ▇▇▇▇▇▇▇▇ will follow the steps provided by Servicer for accepting Cards and will: (a) determine in good faith and to the best of its ability that the Card is valid on its face; (b) obtain Authorization from the Card Issuer to charge the Cardholder's account; (c) unless the Sales Draft is electronically generated or is the result of a mail, internet, phone or preauthorized order, (i) obtain an Imprint of the Card including embossed data from the merchant imprinter plate; and (ii) obtain the Cardholder's signature on the Sales Draft and compare that signature to the signature on the Card; (d) enter a description of the goods or services sold and the price thereof (including any applicable taxes); (e) deliver a true and completed copy of the Sales Draft to the Cardholder at the time the goods are delivered or services performed, or, if the Sales Draft is prepared by a point-of-sale terminal, at the time of the sale; (f) offer the Sales Draft to Servicer for purchase according to Servicer's procedures and the terms of this Agreement; and (g) make a Card Imprint, if the Transaction is not based upon a mail, internet, phone or pre-authorized order.

  • Acceptance; Purchase Buyer shall accept the goods and pay sum of: $88,170.00 for the goods in accordance with the terms of this Agreement.