Common use of Disclosure of Counterclaims on Receivables Clause in Contracts

Disclosure of Counterclaims on Receivables. If (i) any discount, credit or agreement to make a rebate or to otherwise reduce the amount owing on a Receivable exists or (ii) if, to the knowledge of the Borrower, any dispute, setoff, claim, counterclaim or defense exists or has been asserted or threatened with respect to a Receivable, the Borrower shall disclose such fact to the Lender in writing in connection with the inspection by the Lender of any record of the Borrower relating to such Receivable and in connection with any invoice or report furnished by the Borrower to the Lender relating to such Receivable.

Disclosure of Counterclaims on Receivables. If (i) any discount, credit credit, or agreement to make a rebate or to otherwise reduce the amount owing on a Receivable exists or (ii) if, to the knowledge of the Borrower, any dispute, setoff, claim, counterclaim counterclaim, or defense exists or has been asserted or threatened with respect to a Receivable, the Borrower shall will disclose such fact to the Lender in writing in connection with the inspection by the Lender of any record of the Borrower relating to such Receivable and in connection with any invoice or report furnished by the Borrower to the Lender relating to such Receivable.

Disclosure of Counterclaims on Receivables. If (i) any discount, credit or agreement to make a rebate or to otherwise reduce the amount owing on a Receivable exists or (ii) if, to the knowledge of the BorrowerDebtor, any dispute, setoff, claim, counterclaim or defense exists or has been asserted or threatened with respect to a Receivable, the Borrower shall Debtor will disclose such fact to the Lender in writing in connection with the inspection by the Lender of any record of the Borrower Debtor relating to such Receivable and in connection with any invoice or report furnished by the Borrower Debtor to the Lender relating to such Receivable.

Disclosure of Counterclaims on Receivables. If (i) any discount, credit or agreement to make a rebate or to otherwise reduce the amount owing on a Receivable exists or (ii) if, to the knowledge of the BorrowerDebtor, any dispute, setoff, claim, counterclaim or defense exists or has been asserted or threatened with respect to a Receivable, the Borrower Debtor shall disclose such fact to the Lender Bank in writing in connection with the inspection by the Lender Bank of any record of the Borrower Debtor relating to such Receivable and in connection with any invoice or report furnished by the Borrower Debtor to the Lender Bank relating to such Receivable.