Common use of Purchase Request Clause in Contracts

Purchase Request. The Customer may utilise the Facility by issuing a Purchase Request to the Bank notifying the Bank of its intention to enter into an arrangement to purchase an identified commodity from the Bank at the Bank’s Selling Price(s) as set out in Schedule 3A. In accordance with the Bank’s financing procedures, upon the acceptance of the Letter of Offer of the Facility, the Customer will issue a request and once it is issued it is irrevocable (except with the prior written consent of the Bank) and binding on the Customer including its successor in title, permitted assigns and personal representatives. The Customer will then give an undertaking to purchase an identified commodity from the Bank at the Bank’s Selling Price(s) which will be stated in the relevant Murabahah Sale Contract.