Terms & Conditions

464 of its debts; 14.1.3 a petition is filed, a notice is given, a resolution is passed, or an order is made, for or in connection with the winding up of the Buyer; 14.1.4 a creditor or encumbrancer of the Buyer attaches or takes possession of, or a distress, execution, sequestration or other such process is levied or enforced on or sued against, the whole or any part of its assets and such attachment or process is not discharged within 14 days; 14.1.5 an application is made to court, or an order is made for the appointment of an administrator; 14.1.6 a floating charge holder over the Buyer’s assets has become entitled to appoint or has appointed an administrative receiver; 14.1.7 a person becomes entitled to appoint a receiver over the Buyer’s assets or a receiver is appointed over the Buyer’s assets; 14.1.8 any event occurs, or proceeding is taken, with respect to the Buyer in any jurisdiction to which it is subject that has an effect equivalent or similar to any of the events in Conditions 14.1.1 to 14.1.7 (inclusive). 14.1.9 the Buyer suspends, threatens to suspend, ceases or threatens to cease to carry on all or substantially the whole of its business; or 14.1.10 the Buyer’s financial position deteriorates to such an extent that in Mila’s opinion the Buyer’s capability to adequately fulfil its obligations has been placed in jeopardy. 14.2 The Buyer shall immediately notify Mila in writing if:- 14.2.1 there is any change in the ownership, management or control of the Buyer; 14.2.2 there is any sale or transfer of a material part of the Buyer’s business or assets; 14.2.3 the Buyer, being a sole trader, entering into partnership with others; or 14.2.4 the Buyer, being a sole trader or a partnership, becomes incorporated or amalgamated with others. 14.3 If any of the events listed at Condition 14.2 occur any credit facilities granted by Mila shall automatically terminate and the balance of such account shall become immediately payable in full 14.4 If any of the events detailed in Condition 14.1 occur, Mila reserve the right to terminate the warranty for certain products as stated in Mila’s brochure at the date of the contract. 14.5 Should the Buyer fail to notify Mila of the occurrence of any of the events listed in Conditions 14.2.1 – 14.2.4 above the Buyer shall be jointly and severally liable to pay all sums due to Mila in respect of goods and/or services supplied to the changed entity until the date that written notice is received by Mila. 14.6 The Buyer shall be jointly and severally liable for all sums due to Mila in respect of goods and/or services supplied to any individual, partnership or other legal entity that makes use of the customer’s credit account facility. 14.7 Mila may (without prejudice to its other rights or remedies) terminate or suspend Mila’s performance of the whole or any outstanding part of the contract if the Buyer fails to take delivery of or to pay for the goods on the date required or breaches any other term of contract, or if the customer is late in payment or performance under or otherwise breaches 01.12.17