Account Covenants. Except as otherwise provided in this subsection 6.9, Debtor shall continue to collect, at its own expense, all amounts due or to become due Debtor under the Accounts and other Payment Obligations and apply such amounts as are so collected to the outstanding balances thereof. In connection with such collections, Debtor may take (and, at Collateral Agent's direction while an Event of Default is continuing, shall take) such action as Debtor or Collateral Agent may deem necessary or advisable to enforce collection of the Accounts and other Payment Obligations; provided, that Collateral Agent shall have the right at any time after the occurrence and during the continuance of a Default or an Event of Default to: (a) notify the customers or obligors under any Accounts and other Payment Obligations of the assignment of such Accounts and other Payment Obligations to Collateral Agent and to direct such customers or obligors to make payment of all amounts due or to become due directly to Collateral Agent; (b) enforce collection of any such Accounts and other Payment Obligations; and (c) adjust, settle or compromise the amount or payment of such Accounts and other Payment Obligations. After the occurrence and during the continuance of a Default or an Event of Default (I) all amounts and Proceeds received by Debtor with respect to its Accounts and other Payment Obligations shall be received in trust for the benefit of Collateral Agent, shall be segregated from other funds of Debtor and shall be forthwith paid over to Collateral Agent in the same form as so received (with any necessary endorsement) to be held in the Depository Account pursuant to Section 7 or applied pursuant to Section 14. Each Debtor shall not adjust, settle or compromise the amount or payment of any Account or other Payment Obligations, or release wholly or partly any customer or obligor thereof, or allow any credit or discount thereon (other than credits and discounts in the ordinary course of business and in amounts which are not material to Debtor) without the prior consent of Collateral Agent.
Account Covenants. The Borrower shall promptly upon its learning thereof: (a) inform the Administrative Agent in writing of any delay in the Borrower’s performance of any of its obligations to any Account Debtor or of any assertion of any claims, offsets or counterclaims by any Account Debtor of the Borrower other than made in the ordinary course of business, either of which could have a Material Adverse Effect; (b) furnish to and inform the Administrative Agent of all adverse information relating to the financial condition of any Account Debtor of the Borrower which could have a Material Adverse Effect; and (c) notify the Administrative Agent in writing if any of Borrower’s then existing Accounts scheduled to the Administrative Agent with respect to which the Administrative Agent for the Lenders has made an advance are no longer Eligible Accounts.
Account Covenants. Except as otherwise provided in this subsection 6.8, Borrower shall continue to collect, at its own expense, all amounts due or to become due to Borrower under the Accounts. In connection with such collections, Borrower may take (and, at Agent's direction, shall take) such action as Borrower or Agent may deem necessary or advisable to enforce collection of the Accounts; PROVIDED, that Agent shall have the right at any time after the occurrence and during the continuation of an Event of Default to:
(a) notify the customers or obligors under any Account of the assignment of such Account to Agent, for the benefit of Agent and the Lenders, and to direct such customers or obligors to make payment of all amounts due or to become due directly to Agent; (b) enforce collection of any such Accounts; and (c) adjust, settle or compromise the amount or payment of such Accounts. After the occurrence and during the continuation of an Event of Default (i) all amounts and proceeds (including Instruments) received by Borrower with respect to the Accounts shall be received in trust for the benefit of Agent (on behalf of Lenders), shall be segregated from other funds of Borrower and shall be forthwith paid over to Agent in the same form as so received (with any necessary endorsement) pursuant to Section 7 and (ii) Borrower shall not adjust, settle or compromise the amount or payment of any Account, or release wholly or partially any customer or obligor thereof, or allow any credit or discount thereon without the prior consent of Agent.
Account Covenants. The Borrower shall promptly upon the Borrower’s learning thereof: (i) inform the Lender in writing of any material delay in the Borrower’s performance of any of its material obligations to any Account Debtor or of any assertion of any material claims, setoff or counterclaims by any Account Debtor; (ii) furnish to and inform the Lender of all material adverse information of which the Borrower obtains knowledge relating to the financial condition of any Person who is then an Account Debtor as to open Accounts with a face amount, in the aggregate, in excess of $1,000,000.00.
Account Covenants. Unless the Lender notifies Borrower in writing that Lender suspends any one or more of the following requirements, Borrower shall (a) promptly upon Borrower’s learning thereof, inform the Lender, in writing, of any material delay in Borrower’s performance of any of its obligations to any Account Debtor and of any assertion of any material claims, offsets or counterclaims by any Account Debtor and of any allowances, credits and/or other monies granted by Borrower to any Account Debtor outside of the ordinary course of Borrower’s business, and (b) not permit or agree to any compromise or settlement with respect to Accounts which constitute, in the aggregate, more than five percent (5%) of all Accounts then owing to Borrower.
Account Covenants. Each Borrower shall promptly upon learning thereof (except as to Accounts not to exceed $500,000 in the aggregate for all Borrowers at any time outstanding): (i) inform Agent in writing of any material violation of such Borrower's contractual obligations to any Account Debtor or of any assertion of any claims, offsets or counterclaims by any Account Debtor; (ii) furnish to and inform Agent of all material adverse information relating to the financial condition of any Account Debtor; and (iii) notify Agent in writing if any of its then existing Accounts scheduled to Agent with respect to which Agent or any Lender has made an advance are no longer Eligible Accounts as to which Agent and each Lender has not previously received notice from such Borrower that the same have ceased to be Eligible Accounts hereunder.
Account Covenants. Except as otherwise provided in this subsection 6.8, Debtor shall continue to collect, at its own expense, all amounts due or to become due Debtor under the Accounts. In connection with such collections, Debtor may take (and, at Lender's direction, shall take) such action as Debtor or Lender may reasonably deem necessary or advisable to enforce collection of the Accounts; provided, that Lender shall have the right at any time after the occurrence and during the continuance of an Event of Default to:
(a) notify the customers or obligors under any Accounts of the assignment of such Accounts to Lender and to direct such customers or obligors to make payment of all amounts due or to become due directly to Lender; (b) enforce collection of any such Accounts; and (c) adjust, settle or compromise the amount or payment of such Accounts. After the occurrence and during the continuance of an Event of Default (i) all amounts and Proceeds (including Instruments) received by Debtor with respect to the Accounts shall be received in trust for the benefit of Lender, shall be segregated from other funds of Debtor and shall be forthwith paid over to Lender in the same form as so received (with any necessary endorsement) to be held in the Collateral Account pursuant to Section 7 and (ii) Debtor shall not adjust, settle or compromise the amount or payment of any Account, or release wholly or partly any customer or obligor thereof, or allow any credit or discount thereon (other than discounts given in the ordinary course of business) without the prior consent of Lender, which consent shall not be unreasonably withheld, conditioned or delayed.
Account Covenants. Borrower shall promptly upon its learning thereof: (a) inform Administrative Agent in writing of any material delay in Borrower’s performance of any of its obligations to any Account Debtor in excess of Two Hundred Fifty Thousand Dollars ($250,000) or of any assertion of any claims, offsets or counterclaims in excess of Two Hundred Fifty Thousand Dollars ($250,000) by any Account Debtor of Borrower other than made in the ordinary course of business; and (b) furnish to and inform Administrative Agent of all material adverse information relating to the financial condition of any Account Debtor of Borrower.
Account Covenants. Until the expiration or termination of the Program, Pier 1 covenants to do the following with respect to the Accounts:
(i) maintain a policy for the exchange and return of goods and adjustments for services rendered or not rendered that is communicated in accordance with Applicable Law and shall promptly deliver applicable Pier 1 Charge Transaction Data to the Cardholder and include credit for such returns or adjustments in the Pier 1 Charge Transaction Data in accordance with the terms of this Agreement and the Operating Procedures; and
(ii) comply with all warranties, if any, with respect to all Pier 1 Goods and Services.
Account Covenants. Until the Final Liquidation Date, Retailers covenant to do the following with respect to each transaction involving an Account or the Program:
(a) Retailers shall respond to, and cooperate with, Bank promptly in connection with the resolution of disputes with Cardholders; (b) Retailers shall maintain a policy for the exchange and return of Goods and adjustments for Services rendered or not rendered that is in accordance with all applicable laws and include credit for such return or adjustment in the Charge Transaction Data in accordance with the terms of this Agreement and the Operating Procedures in the event the return/exchange has been authorized in accordance with Retailers' policies;
