Common use of Accounts Receivable Documentation Clause in Contracts

Accounts Receivable Documentation. The Obligors will at such intervals as the Agent may require, execute and deliver confirmatory written assignments of the Accounts Receivable to the Agent and furnish such further schedules and/or information as the Agent may require relating to the Accounts Receivable. In addition, the Obligors shall notify the Agent and the Holders of any non-compliance in respect of the representations, warranties and covenants contained in Section 8.03. The items to be provided under this Section 8.02 are to be in form reasonably satisfactory to the Agent and are to be executed and delivered to the Agent from time to time solely for its convenience in maintaining records of the Collateral. The Obligors’ failure to give any of such items to the Agent shall not affect, terminate, modify or otherwise limit the Agent’s Lien on the Collateral. During the continuance of a Default or Event of Default, the Obligors shall not re-xxxx any Accounts Receivable without promptly disclosing the same to the Agent and providing the Agent with a copy of such re-billing, identifying the same as such. If the Obligors become aware of anything materially detrimental to the value, enforceability or collectibility of the Accounts Receivable generally, or the value, enforceability or collectibility of a material portion thereof, the Obligors will promptly and in writing advise the Agent and the Holders thereof.

Appears in 8 contracts

Samples: Securities Purchase Agreement (FriendFinder Networks Inc.), Securities Purchase Agreement (FriendFinder Networks Inc.), Securities Purchase Agreement (FriendFinder Networks Inc.)

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