Common use of Agreements Regarding Receivables Clause in Contracts

Agreements Regarding Receivables. Borrower may not backdate, postdate or redate any of its invoices or statements. Borrower may not make any sales on extended dating or credit terms beyond that customary in the ordinary course of Borrower’s business. In addition to the Borrowing Base Certificate to be delivered in accordance with Section 8.3, Borrower shall notify Agent promptly upon Borrower’s learning thereof, in the event any Eligible Receivable in an amount in excess of $250,000 becomes ineligible for any reason, other than the aging of such Receivable, and of the reasons for such ineligibility. Borrower shall also notify Agent promptly of all material disputes and claims with respect to its Receivables (other than with respect to any individual Receivable in an amount not in excess of $250,000), and Borrower will settle or adjust such material disputes and claims at no expense to Agent or the Lenders; however, Borrower may not, without Agent’s consent, grant (i) any discount, credit or allowance in respect of its Receivables (a) which is outside the ordinary course of business and (b) which discount, credit or allowance exceeds an amount equal to $100,000 in the aggregate with respect to any individual Receivable or (ii) any materially adverse extension, compromise or settlement to any customer or account debtor with respect to any then Eligible Receivable, other than in respect to any such individual Receivable in an amount not in excess of $250,000. Nothing permitted by this Section 7.1 or Section 7.2, however, may be construed to alter in any way the criteria for Eligible Receivables provided in Section 1.1.

Agreements Regarding Receivables. No Borrower may not backdate, postdate or redate any of its invoices or statementswhich relate to Eligible Accounts. No Borrower may not make any sales on extended dating or credit terms with respect to Eligible Accounts beyond that customary in the ordinary course of such Borrower’s businessindustry except in the Ordinary Course of Business or consented to in advance by Agent. In addition to the Borrowing Base Certificate to be delivered in accordance with Section 8.3this Agreement, Borrower Representative shall notify Agent promptly upon any Borrower’s learning thereof, in the event any Eligible Receivable in an amount in excess of $250,000 Account becomes ineligible for any reason, other than the aging of such ReceivableAccount, and of the reasons for such ineligibility. Borrower Representative shall also notify Agent promptly of all material disputes and claims with respect to its Receivables (other than with respect to the Accounts of any individual Receivable in an amount not in excess of $250,000)Borrower, and such Borrower will settle or adjust 77 such material disputes and claims at no expense to Agent or the LendersAgent; provided, however, no Borrower may notmay, without Agent’s consent, grant (ia) any discount, credit or allowance in respect of its Receivables (a) which is outside the ordinary course any Account with a value in excess of business and $1,000,000 or (b) which discount, credit or allowance exceeds an amount equal to $100,000 in the aggregate with respect to any individual Receivable or (ii) any materially adverse extension, compromise or settlement to any customer or account debtor with respect to any then Eligible Receivable, other than in respect to any such individual Receivable in an amount not in excess of $250,000Account. Nothing permitted by this Section 7.1 or Section 7.25.16, however, may be construed to alter in any way of the criteria for Eligible Receivables Accounts or Eligible Inventory provided in Section 1.1.

Agreements Regarding Receivables. No Borrower may not backdate, postdate or redate any of its invoices or statementsinvoices, other than current redates on rebills in the Ordinary Course of Business. No Borrower may not make any sales on extended dating or credit terms beyond that customary in the ordinary course of such Borrower’s business's industry and consented to in advance by Agent. In addition to the Borrowing Base Certificate to be delivered in accordance with Section 8.3this Agreement, Borrower Representative shall notify Agent promptly upon any Borrower’s 's learning thereof, in the event any Eligible Receivable in an amount in excess of $250,000 Account or Eligible Unbilled Account becomes ineligible for any reason, other than the aging of such ReceivableAccount, and of the reasons for such ineligibility. Borrower Representative shall also notify Agent promptly of all material disputes and claims with respect to its Receivables (other than with respect to the Accounts of any individual Receivable in an amount not in excess of $250,000)Borrower, and such Borrower will settle or adjust such material disputes and claims at no expense to Agent or the LendersAgent; provided, however, no Borrower may notmay, without Agent’s 's consent, grant (ia) any discount, credit or allowance in respect of its Receivables Accounts (ai) which is outside the ordinary course of business and or (bii) which discount, credit or allowance exceeds an amount equal to $100,000 in the aggregate with respect to any individual Receivable or Account of (iib) any materially adverse extension, compromise or settlement to any customer or account debtor with respect to any then Eligible Receivable, other than in respect to any such individual Receivable in an amount not in excess of $250,000Account or Eligible Unbilled Account. Nothing permitted by this Section 7.1 or Section 7.25.16, however, may be construed to alter in any way the criteria for Eligible Receivables Accounts or Eligible Unbilled Accounts provided in Section 1.1.

Agreements Regarding Receivables. Borrower No Credit Party may not backdate, postdate or redate any of its invoices or statementsexcept as necessary to correct manifest errors with respect to such invoices. Borrower No Credit Party may not make any sales on extended dating or credit terms beyond that customary in the ordinary course of Borrowersuch Credit Party’s businessindustry and consented to in advance by Agent. In addition to the Borrowing Base Certificate to be delivered in accordance with Section 8.3this Agreement, Borrower Representative shall notify Agent promptly upon any Borrower’s learning thereof, in the event any Eligible Receivable in an amount in excess of $250,000 Account becomes ineligible for any reason, other than the aging of such ReceivableAccount, and of the reasons for such ineligibility. Borrower Representative shall also notify Agent promptly of all material disputes and claims with respect to its Receivables (other than with respect to the Accounts of any individual Receivable in an amount not in excess of $250,000)Borrower, and such Borrower will settle or adjust such material disputes and claims at no expense to Agent or the LendersAgent; provided, however, no Borrower may notmay, without Agent’s consent, grant (ia) any discount, credit or allowance in respect of its Receivables (a) which is outside the ordinary course of business and (b) Accounts, which discount, credit or allowance exceeds is (i) outside the Ordinary Course of Business or (ii) in an amount equal to $100,000 or greater than [***] in the aggregate with respect to any individual Receivable Account, or (iib) any materially adverse extension, compromise or settlement to any customer or account debtor with respect MidCap / Cerus / A&R Credit, Security and Guaranty Agreement (Revolving Loan) [***] = Certain Confidential Information Omitted to any then Eligible Receivable, other than in respect to any such individual Receivable in an amount not in excess of $250,000Account. Nothing permitted by this Section 7.1 or Section 7.25.18, however, may be construed to alter in any way the criteria for Eligible Receivables Accounts or Eligible Inventory provided in Section 1.1.

Agreements Regarding Receivables. No Borrower may not backdate, postdate or redate any of its invoices or statementswhich relate to Eligible Accounts. No Borrower may not make any sales on extended dating or credit terms with respect to Eligible Accounts beyond that customary in the ordinary course of such Borrower’s businessindustry except in the Ordinary Course of Business or consented to in advance by Agent. In addition to the Borrowing Base Certificate to be delivered in accordance with Section 8.3this Agreement, Borrower Representative shall notify Agent promptly upon any Borrower’s learning thereof, in the event any Eligible Receivable in an amount in excess of $250,000 Account becomes ineligible for any reason, other than the aging of such ReceivableAccount, and of the reasons for such ineligibility. Borrower Representative shall also notify Agent promptly of all material disputes and claims with respect to its Receivables (other than with respect to the Accounts of any individual Receivable in an amount not in excess of $250,000)Borrower, and such Borrower will settle or adjust such material disputes and claims at no expense to Agent or the LendersAgent; provided, however, no Borrower may notmay, without Agent’s consent, grant (ia) any discount, credit or allowance in respect of its Receivables (a) which is outside the ordinary course any Account with a value in excess of business and $1,000,000 or (b) which discount, credit or allowance exceeds an amount equal to $100,000 in the aggregate with respect to any individual Receivable or (ii) any materially adverse extension, compromise or settlement to any customer or account debtor with respect to any then Eligible Receivable, other than in respect to any such individual Receivable in an amount not in excess of $250,000Account. Nothing permitted by this Section 7.1 or Section 7.25.16, however, may be construed to alter in any way of the criteria for Eligible Receivables Accounts or Eligible Inventory provided in Section 1.1.