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What's market · Customer contracts
Customer direct agreement in GPU financings
When must the customer sign a direct agreement with the lenders, and what will it agree to? Lenders want the customer to acknowledge the security, give notice and time to cure, and pay into the secured account. The filed credit agreements make it a condition, while Anthropic's filed order shows what a customer will commit to in advance.
Before the first draw, by closing, or only as negotiated4 filed deals · as at 27 October 2026
As at 27 October 2026. This page keeps its address when it is updated, so it can be cited. If a newer filing changes a term, tell us.
More on customer contracts
Related positions
Customer step-in to the supplier's financing
One filed example: Microsoft's option under the IREN statement of work
Customer contractsHyperscaler lease backstop (recognition agreement)
90 days to find a tenant, then assume or reject
Customer contractsData centre access and step-in letters for GPU lenders
Within 120 days on an efforts basis, or per site at closing
Method
Levels are taken from the filed documents quoted above and summarised in the clause library. Where only a few deals are public, the range is narrow by necessity; a private deal can sit outside it. General information drawn from public filings. It is not legal advice on any transaction, and using this page does not create a lawyer-client relationship. Views are personal.
