Common use of Disclosure of Counterclaims on Receivables Clause in Contracts

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

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

Disclosure of Counterclaims on Receivables. If (ai) any discount, credit or agreement to make a rebate or to otherwise reduce the amount owing on a Receivable owned by such Grantor exists or (bii) if, to the Knowledge knowledge of such Grantor, any dispute, setoff, claim, counterclaim or defense exists or has been asserted or threatened with respect to a Receivable, such Grantor will promptly disclose such fact to the Administrative Agent in writing in connection with the inspection by the Administrative Agent of any record of such Grantor relating to such Receivable and in connection with any invoice or report furnished by such Grantor to the Administrative Agent relating to such Receivable, in each case subject to the terms of this Security Agreement.

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

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

Disclosure of Counterclaims on Receivables. If (ai) any material discount, credit or agreement to make a rebate or to otherwise materially reduce the amount owing on a any Receivable owned by such Grantor exists or (bii) if, to the Knowledge knowledge of such Grantor, any material dispute, setoff, claim, counterclaim or defense exists or has been asserted or threatened with respect to a any such Receivable, such Grantor will promptly disclose such fact to the Administrative Agent in writing in connection with the inspection by the Administrative Agent of any record of such Grantor relating to such Receivable and in connection with any invoice or report furnished by such Grantor to Administrative Agent relating to such Receivable.

Disclosure of Counterclaims on Receivables. If (ai) any material discount, credit or agreement to make a rebate or to otherwise reduce the amount owing on a Receivable owned by such Grantor exists or (bii) if, to the Knowledge knowledge of such Grantor, any material dispute, setoff, claim, counterclaim or defense exists or has been asserted or threatened with respect to a Receivable, such Grantor will promptly disclose such fact to the Administrative Agent in writing in connection with the inspection by the Administrative Agent of any record of such Grantor relating to such Receivable and in connection with any invoice or report furnished by such Grantor to the Administrative Agent relating to such Receivable.