BMG Harvesting Plan Sample Clauses

BMG Harvesting Plan. (a) The Borrower agrees to liquidate inventory and accounts receivable in the manner contemplated by the BMG Harvesting Plan and agrees that the Lenders may retain that percentage of the cash from such liquidations as set forth in the BMG Harvesting Payment Schedule and Borrower further agrees to deliver to the Agent and Lenders by no later than Tuesday of each week payment for the liquidations as of such prior week along with a certificate signed by a Responsible Officer of Borrower (x) demonstrating (i) the current BMG accounts receivable rollforward calculation; and (ii) the current BMG inventory rollforward calculation and (y) explaining any differences between actual BMG accounts receivable and inventory as of such date and the BMG Harvesting Plan projections for such date, in each case in form and substance satisfactory to the Agent; (b) The Borrower shall, on or before December 15, 2003, deliver to Agent and Lenders, in form and substance satisfactory to the Agent and Lenders, weekly projections of the accounts receivable, inventory and fixed assets for the BMG Business for the month of January, 2004; (c) The outstanding inventory balance for the BMG Business as of any date following the effectiveness of the Third Amended Agreement until December 30, 2003 shall not exceed $9,000,000 and thereafter shall be less than $8,500,000. "