Binding Effect of Request for Advance Sample Clauses
The "Binding Effect of Request for Advance" clause establishes that once a party submits a formal request for an advance, that request becomes legally binding on the parties involved. In practice, this means that after a request is made—such as for a payment or disbursement of funds—the requesting party cannot unilaterally withdraw or alter the request without the consent of the other party, and the recipient is obligated to process the request as agreed. This clause ensures certainty and reliability in financial transactions by preventing parties from backing out of or modifying advance requests after submission, thereby reducing the risk of disputes and facilitating smooth contract performance.
Binding Effect of Request for Advance. Borrower agrees that, by its acceptance of any advance of proceeds of the Loans under this Agreement, it shall be bound in all respects by the request for advance submitted on its behalf in connection therewith with the same force and effect as if Borrower had itself executed and submitted the request for advance and whether or not the request for advance is executed and/or submitted by an authorized person.
Binding Effect of Request for Advance. Borrower agrees that, by its acceptance of any advance of proceeds of the Loans under this Agreement or the issuance of any Letter of Credit, it shall be bound in all respects by the request for advance or Letter of Credit submitted on its behalf in connection therewith with the same force and effect as if Borrower had itself executed and submitted the request for advance or Letter of Credit and whether or not the request for advance is executed and/or submitted by an authorized person.
Binding Effect of Request for Advance. B▇▇▇▇▇▇▇ agrees that, by its acceptance of any advance of proceeds of the Loans under this Agreement, it shall be bound in all respects by the request for advance submitted on its behalf in connection therewith with the same force and effect as if B▇▇▇▇▇▇▇ had itself executed and submitted the request for advance and whether or not the request for advance is executed and/or submitted by an authorized person.
Binding Effect of Request for Advance. 59 ------------------------------------- Section 12.02