Common use of Consequences of the revocation of the Mandates Clause in Contracts

Consequences of the revocation of the Mandates. 7.8.1 Information of the Debtors, collection and cashing by the Factor (a) Upon revocation of the Mandates, the Factor may in relation to the relevant French Seller: (i) notify the Debtors, and any other third parties as the case may be, of the existence of this Agreement and the Assignment of the Transferred Receivables, and it shall restrain them from paying the French Sellers. Such notification shall be made under the form set out in Annex 4; (ii) address to the Debtors the originals of invoices obtained from such French Seller; (iii) ensure the collection of all Transferred Receivables, including Transferred Receivables assigned prior to the date of revocation of the Mandates; (iv) set the Holdback Reserve for all new Receivables to be Assigned as from the relevant revocation date, at the higher of (i) ten per cent (10%) of all Transferred Receivables outstanding, including VAT, less (A) the Specific Reserve and (B) the sums credited to the relevant Deferred Availability Accounts; (ii) the sum of ten per cent (10%) and the Average Dilution Rate of all Transferred Receivables outstanding, including VAT, less (A) the Specific Reserve and (B) the sums credited to the relevant Deferred Availability Accounts; and (iii) the minimum amount set out in Clause 8.4.2(b) below; (v) charge five Euros (EUR 5) of fixed servicing and notification costs per outstanding Transferred Receivable or Receivable to be Assigned as from the relevant revocation date (if any) by immediate debit of the Current Account. (b) As soon as the revocation of the Mandates becomes effective and in relation to any new Transferred Receivable (if any), the relevant French Seller shall include the following wording in its invoices: “La créance relative à la présente facture a été cédée à GE FACTOFRANCE SNC dans le cadre des articles L. 313-23 à L. 313-34 du Code monélaire et financier. Pour étre libératoire, votre réglement doit étre effectué directement à I’ordre de GE FACTOFRANCE Tour FACTO - ▇▇ ▇▇▇ ▇▇▇▇▇ - ▇▇▇▇▇ ▇▇ - ▇▇▇▇▇ LA DEFENSE CEDEX TEL: ▇▇.▇▇.▇▇.▇▇.▇▇ – GE FACTOFRANCE (RIB: [—]) qui ▇▇▇▇▇ être ▇▇▇▇▇ de toute réclamation relative à cette créance”. 7.8.2 Management of the Debtors positions