Common use of Communication with Debtors Clause in Contracts

Communication with Debtors. In its own name or in the name of others, to communicate with account debtors in order to verify with them to the Bank's reasonable satisfaction the existence, amount and terms of any Accounts Receivable and the absence of any reductions, discounts, defenses or offsets with respect thereto; provided, however, that prior to the occurrence of an Event of Default, the Bank shall communicate with such account debtors only in the name of others and not in its own name;

Appears in 2 contracts

Samples: Security Agreement (Dover Saddlery Inc), Security Agreement (Dover Saddlery Inc)

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Communication with Debtors. In its own name or in the -------------------------- name of others, and upon prior notice to SatCon, to communicate with account debtors solely in order to verify with them to the Bank's reasonable satisfaction the existence, amount and terms of any Accounts Receivable and the absence of any reductions, discounts, defenses or offsets with respect thereto; provided, however, that prior to the occurrence of an Event of Default, the Bank shall communicate with such account debtors only in the name of others and not in its own name;and

Appears in 1 contract

Samples: Letter Agreement (Satcon Technology Corp)

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Communication with Debtors. In At any time, in its own name or in the name of others, to communicate with account debtors in order to verify with them to the BankAgent's reasonable satisfaction the existence, amount and terms of any Accounts Receivable and the absence of any reductions, discounts, defenses or offsets with respect thereto; provided, however, that prior to the occurrence of an a Default or Event of Default, the Bank Agent shall communicate with such account debtors only in the name of others and not in its own name;

Appears in 1 contract

Samples: Revolving Credit Agreement (United States Leather Inc /Wi/)

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