Glossary / finance terms
Acceptance
The customer's confirmation, after testing, that delivered GPU capacity meets the contract specification. Acceptance usually starts the billing period, and GPU loans often make it a condition to drawing.
In the filed deals
IREN's statement of work with Microsoft provides for deemed acceptance if Microsoft does not reject a delivered GPU service within the acceptance period.
For in-house counsel
Acceptance in the filed documents
Where the term turns up in filed contracts and what is market, for the lender’s or the borrower’s side. Previews are open; the full text is free with InfraCompute Weekly.
- Contract library: Acceptance testing and when fees startWhen does the service term, and the obligation to pay, start?
- Clause library: Remarketing right and RVG on non-acceptanceIf the customer validly rejects a tranche of GPUs, the borrower must sell or redeploy them within a short window. In Nscale's…
- Contract library: Late or faulty equipmentWhat happens to the loan if financed equipment is not delivered on time, or fails its tests?
- The legal desk for in-house counselContract library, issues lists, checklists and English law notes.
Related terms
Explanatory definition, not a statement that a particular transaction contains this term or a substitute for its contractual definition.
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