Certain Agreements on Receivables. Upon the occurrence of and during the continuance of an Event of Default, such Grantor will not make or agree to make any discount, credit, rebate or other reduction in the original amount owing on a Receivable or accept in satisfaction of a Receivable less than the original amount thereof without the Administrative Agent’s prior written consent, except for discounts, credits, rebates or other reductions made or given in accordance with its present policies and in the ordinary course of business.
Appears in 4 contracts
Samples: Security Agreement (Levi Strauss & Co), Security Agreement (Levi Strauss & Co), Security Agreement (Levi Strauss & Co)
Certain Agreements on Receivables. Upon After written notice from the Collateral Agent during the occurrence of and during the continuance continuation of an Event of Default, such no Grantor will not make or agree to make any discount, credit, rebate or other reduction in the original amount owing on a Receivable or accept in satisfaction of a Receivable less than the original amount thereof without the Administrative Agent’s prior written consent, except for discounts, credits, rebates or (other reductions made or given than discounting of receivables owing from distressed customers in accordance a manner consistent with its present policies and in the ordinary course of businessprudent business practices).
Appears in 3 contracts
Samples: Security Agreement (Photronics Inc), Security Agreement (Photronics Inc), Security Agreement (Photronics Inc)
Certain Agreements on Receivables. Upon the occurrence of and during the continuance of an Event of DefaultDefault and subject to the Order, such Grantor will not make or agree to make any discount, credit, rebate or other reduction in the original amount owing on a Receivable or accept in satisfaction of a Receivable less than the original amount thereof without the Administrative Agent’s prior written consent, except for discounts, credits, rebates or other reductions made or given in accordance with its present policies and in the ordinary course of businessthereof.
Appears in 1 contract
Samples: Guaranty and Collateral Agreement (Ascena Retail Group, Inc.)
Certain Agreements on Receivables. Upon After the occurrence of and during the continuance of an Event of Default, such Grantor will not make or agree to make any discount, credit, rebate or other reduction in the original amount owing on a Receivable or accept in satisfaction of a Receivable less than the original amount thereof without the Administrative Agent’s prior written consent, except for discounts, credits, rebates or other reductions made or given than in accordance with its present policies and in the ordinary course of business.
Appears in 1 contract
Samples: Intercreditor Agreement (Fender Musical Instruments Corp)