Financing arrangements; obligations irrevocable

Va. Code Ann. § 59.1-505.9, under Chapter 43. Uniform Computer Information Transactions Act..

Va. Code Ann. § 59.1-505.9

Unless the accommodated licensee is a consumer, a term in a financial accommodation contract providing that the accommodated licensee's obligations to the financier are irrevocable and independent is enforceable. The obligations become irrevocable and independent upon the licensee's acceptance of the license or the financier's giving of value, whichever occurs first.