Common use of Certain Agreements on Receivables Clause in Contracts

Certain Agreements on Receivables. No Grantor will (i) make or agree to make any discount, credit, rebate or other reduction in the original amount owing on a Receivable or (ii) accept in satisfaction of a Receivable less than the original amount thereof, in either case except in the ordinary course of such Grantor’s business, except that, prior to the occurrence of an Event of Default, the Grantors may make discounts, credits, rebates and other reductions and accept satisfaction less than the original amount of Accounts arising from the sale of Inventory in accordance with their present policies and in the ordinary course of business.

Appears in 3 contracts

Samples: Pledge and Security Agreement (Core-Mark Holding Company, Inc.), Pledge and Security Agreement (Core-Mark Holding Company, Inc.), Pledge and Security Agreement (Core-Mark Holding Company, Inc.)

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Certain Agreements on Receivables. No Such Grantor will (i) not make or agree to make any discount, credit, rebate or other reduction in the original amount owing on a Receivable or (ii) accept in satisfaction of a Receivable less than the original amount thereof, in either case except other than (i) discounts and adjustments that are accounted for in the ordinary course calculation of such Grantor’s businessEligible Accounts in accordance with the Credit Agreement, except that, and (ii) prior to the occurrence of an Event of Default, reduction by a Grantor of the Grantors may make discounts, credits, rebates and other reductions and accept satisfaction less than the original amount of Accounts arising from the sale of Inventory in accordance with their present such Grantor’s customary policies and in the ordinary course of business.

Appears in 1 contract

Samples: Pledge and Security Agreement (Frank's International N.V.)

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