Common use of ACCEPTANCE OF ACCOUNTS RECEIVABLE Clause in Contracts

ACCEPTANCE OF ACCOUNTS RECEIVABLE. Bank is not obligated to finance any accounts receivable. Bank may approve any Account Debtor's credit before agreeing to finance any accounts receivable. When Bank agrees to finance a receivable, it will extend credit to Borrower in an amount up to the result of the Advance Rate multiplied by the face amount of the receivable (the "Advance"). Bank may, in its discretion, change the percentage of the Advance Rate. When Bank makes an Advance, the receivable becomes a "Financed Receivable." All representations and warranties in Section 6 must be true as of the date of the Invoice Transmittal and of the Advance and no Event of Default exists would occur as a result of the Advance. The aggregate amount of all Financed Receivables outstanding at any time may not exceed the Facility Amount.

ACCEPTANCE OF ACCOUNTS RECEIVABLE. Bank Lender is not obligated to finance any accounts receivableReceivable. Bank Lender may approve review any Account Debtor's credit before agreeing to finance any accounts receivableReceivable. When Bank Lender agrees to finance a receivableReceivable, it will extend credit to the Borrower in an amount up to the result of the Advance Rate multiplied by the face amount of the receivable Receivable (the "Advance"). Bank maySuch extension of credit may include the issuance of letters of credit, in its discretion, change subject to the percentage of the Advance Rateterms and rates acceptable to Lender. When Bank Lender makes an Advance, the receivable Receivable becomes a "Financed Receivable." All representations and warranties in Section 6 must be true as of the date of the Invoice Transmittal and of the Advance and no Event of Default exists would occur as a result of the Advance. The aggregate amount of all Financed Receivables outstanding at any time may not exceed the Facility Amount.

ACCEPTANCE OF ACCOUNTS RECEIVABLE. Bank is not obligated to finance any accounts receivable. Bank may approve any Account Debtor's credit before agreeing to finance any accounts receivable. When Bank agrees to finance a receivable, it will extend credit to Borrower in an amount up to the result of the Advance Rate multiplied by the face amount of the receivable (the "Advance"). Bank may, in its reasonable discretion, change the percentage of the Advance RateRate for a particular receivable on a case by case basis. When Bank makes an Advance, the receivable becomes a "Financed Receivable." All representations and warranties in Section 6 must be true as of the date of the Invoice Transmittal and of the Advance and no Event of Default exists shall then exist or would occur as a result of the Advance. The aggregate face amount of all Financed Receivables outstanding at any time may not exceed the Facility Amount.

ACCEPTANCE OF ACCOUNTS RECEIVABLE. Bank is not obligated to finance any accounts receivableReceivable. Bank may approve review any Account Debtor's credit before agreeing to finance any accounts receivableReceivable. When Bank agrees to finance a receivableReceivable, it will extend credit to the Borrower in an amount up to the result of the Advance Rate multiplied by the face amount of the receivable Receivable (the "Advance"). Bank may, in its discretion, change the percentage of the Advance Rate. When Bank makes an Advance, the receivable Receivable becomes a "Financed Receivable." All representations and warranties in Section 6 must be true as of the date of the Invoice Transmittal and of the Advance and no Event of Default exists would occur as a result of the Advance. The aggregate amount of all Financed Receivables outstanding at any time may not exceed the Facility Amount.