Irrevocable undertaking meaning
WebJan 28, 2024 · CPU is a buyer-led initiative which falls under the category of payable finance, without the requirement of the assignment of the underlying receivable to the financial institution, relying completely on the buyer’s irrevocable payment undertaking,” Peter Mulroy, Secretary General at FCI told TFG. WebNov 2, 2024 · In the paper IPUs are described as irrevocable (rather than independent ) payment undertakings. They are not to be replacements for promissory notes. The paper …
Irrevocable undertaking meaning
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WebSep 2, 2015 · Irrevocable. Revocable undertakings A revocable undertaking is a promise or pledge that may be retracted at any time by the person who has provided it. However, when the undertaking is revoked, there is a risk being litigation and the potential allocation of costs being granted against the party who revoked the undertaking. WebOct 20, 2024 · Irrevocable undertaking definition What does Irrevocable undertaking mean? In the context of an equity fundraising, a binding agreement given by a shareholder to vote …
WebIrrevocable undertakings to accept an offer are normally sought by an offeror from significant offeree shareholders immediately before the announcement of a firm intention to make an offer ( Rule 2.7 announcement ), so as to secure as much comfort as possible that the offer will be successful. WebIrrevocable has a formal sound to it and is often used in legal contexts. Irrevocable trusts are trust funds that cannot be dissolved by the people who created them (the other kind is a revocable trust). An irrevocable credit is an absolute obligation from a bank to provide …
WebIrrevocable Undertaking and Direction means an undertaking and direction executed by the Borrower in favour of the Lender, in form and content satisfactory to the Lender, acting … http://supplychainfinanceforum.org/techniques/corporate-payment-undertaking/
WebIRREVOCABLE. That which cannot be revoked. 2. A will may at all times be revoked by the same person who made it, he having a disposing mind; but the moment the testator is …
WebThe usual practice in such cases is to give an irrevocable undertaking to establish guarantees at the lender's request. EurLex-2 An irrevocable undertaking does not offer … some houses for rentWebirrevocable - incapable of being retracted or revoked; "firm and irrevocable is my doom"- Shakespeare irrevokable revocable , revokable - capable of being revoked or annulled; "a revocable order" small business phone system reviews 2012WebNov 13, 2024 · Such an undertaking is considered as irrevocable. In essence, this means that documentary credits can only be amended or cancelled with the agreement of the beneficiary and, if one is in place, the confirming bank. By default, a credit is irrevocable even if there is no indication to that effect. somehow another wordWeblock-ups — irrevocable undertaking Also known as a lock up. A binding agreement by a target shareholder to accept a takeover offer. An irrevocable undertaking may be either hard (binding in all circumstances), soft (ceases to be binding if a higher offer… … Law dictionary lock-up — irrevocable undertaking Also known as a lock up. small business phone service voipsmall business phones for saleWebIrrevocable undertaking: secondary issues. A form of irrevocable undertaking for use by either large shareholders or directors in connection with a rights issue (or, with appropriate amendments, other secondary issue). An irrevocable undertaking will generally be addressed to both the company and the sponsor. small business phone system reviews 2013WebJun 4, 2024 · “ Reimbursement Undertaking ” means a separate irrevocable undertaking of the reimbursing bank, issued upon the authorization or request of the issuing bank, to the claiming bank named in the reimbursement authorization, to honour that bank’s reimbursement claim, provided the terms and conditions of the reimbursement … somehow cleverest hens