Disputes, Returns and Adjustments. (a) In the event any amounts due and owing under any Receivable for an amount in excess of $100,000 are in dispute between an Account Debtor and an Obligor, the Borrowers' Agent shall provide the Agent with prompt written notice thereof.
(b) The Borrowers' Agent shall notify the Agent promptly of all returns and credits in excess of $100,000 in respect of any Receivable (other than any re-xxxx or correction arising in the ordinary course of the Obligors' business), which notice shall specify the Receivable affected.
(c) The Obligors may, in the ordinary course of business unless a Default or an Event of Default has occurred and is continuing, grant any extension of time for payment of any Receivable or compromise, compound or settle the same for less than the full amount thereof, or release wholly or partly any Person liable for the payment thereof, or allow any credit or discount whatsoever therein; PROVIDED that (i) no such action results in the reduction of more than $100,000 in the amount payable with respect to any Receivable or of more than $2,000,000 with respect to all Receivables in fiscal year 1999 or $1,000,000 in any fiscal year thereafter (in each case, excluding the allowance of credits or discounts generally available to Account Debtors in the ordinary course of the Obligors' business and appropriate adjustments to the accounts of Account Debtors in the ordinary course of business), and (ii) the Agent is promptly notified of the amount of such adjustments and the Receivable(s) affected thereby.
Disputes, Returns and Adjustments. 32 SECTION 7.4 INVOICES..................................................32 SECTION 7.5
Disputes, Returns and Adjustments. (a) In the event amounts due and owing under any Receivable in excess of $300,000 are in dispute between the Account Debtor and the Borrowers, the Borrowers shall provide the Lender with prompt written notice thereof.
(b) The Borrowers shall notify the Lender promptly of all material returns, credits, offsets or charges in excess of $250,000 in respect of any Receivable, which notice shall specify the Receivables affected.
(c) The Borrowers may, in the ordinary course of business and prior to a Default or an Event of Default, grant any extension of time for payment of any Receivable or compromise, compound or settle the same for less than the full amount thereof or release wholly or partly any Person liable for the payment thereof or allow any credit or discount whatsoever thereon; provided that (i) no such action results in the reduction of more than $100,000 in the amount payable with respect to any Receivable of more than $300,000 with respect to all Receivables in any fiscal year of the Borrowers, and (ii) the Lender is promptly notified of the amount of such adjustments and the Receivable(s) affected thereby.
Disputes, Returns and Adjustments. (a) In the event amounts due and owing under any Receivable in excess of $250,000 are in dispute between the Account Debtor and any Borrower, the Borrowers' Agent shall provide the Agent with prompt written notice thereof.
(b) The Borrowers' Agent shall notify the Agent promptly of all material returns and credits in excess of $250,000 in respect of any Receivable, which notice shall specify the Receivables affected.
(c) The Borrowers may, in the ordinary course of business and prior to a Default or an Event of Default, grant any extension of time for payment of any Receivable or compromise, compound or settle the same for less than the full amount thereof or release wholly or partly any Person liable for the payment thereof or allow any credit or discount whatsoever thereon; PROVIDED that (i) no such action results in the reduction of more than $250,000 in the amount payable with respect to any Receivable or of more than $500,000 with respect to all Receivables in any fiscal year of the Borrower, and (ii) the Agent is promptly notified of the amount of such adjustments and the Receivable(s) affected thereby.
Disputes, Returns and Adjustments. (a) Borrower shall provide Lender with prompt written notice of amounts in excess of the amount shown on Schedule A that are in dispute between any Account Debtor and Borrower.
(b) Borrower shall notify Lender promptly of all returns and credits in respect of any Account, which notice shall specify the Accounts affected and be included in the Borrowing Base Certificate delivered to Lender. Borrower shall notify Lender promptly of any pending return or credit in excess of the amount shown on Schedule A, and shall specify the Account affected, the related Account Debtor, and the goods to be returned.
(c) Borrower may, in the ordinary course of business and prior to a Default or an Event of Default, grant any extension of time for payment of any Account or compromise, compound, or settle the same for less than the full amount thereof or release wholly or partly any Person liable for the payment thereof or allow any credit or discount whatsoever thereon, provided that (i) Borrower shall not have taken any such action that results in the reduction of more than the amount shown on Schedule A with respect to any account or more than the amount shown on Schedule A with respect to all Accounts of Borrower in any fiscal year, and (ii) Borrower shall promptly notify Lender (but not less often than ten (10) days after the end of each month) of the amount of such adjustments and the Account(s) affected thereby.
Disputes, Returns and Adjustments. (a) In the event any amounts due and owing under any Receivable for an amount in excess of $150,000 are in dispute between an Account Debtor and a Borrower, the Borrowers shall provide the Agent with prompt written notice thereof.
(b) The Borrowers shall notify the Agent promptly of all returns and credits in excess of $150,000 in respect of any Receivable, which notice shall specify the Receivable affected.
(c) The Borrowers may, in the ordinary course of business unless a Default or an Event of Default has occurred and is continuing, grant any extension of time for payment of any Receivable or compromise, compound or settle the same for less than the full amount thereof, or release wholly or partly any Person liable for the payment thereof, or allow any -80- 88 credit or discount whatsoever therein; provided that (i) no such action results in the reduction of more than $150,000 in the amount payable with respect to any Receivable or of more than $500,000 with respect to all Receivables in any fiscal year (in each case, excluding the allowance of credits or discounts generally available to Account Debtors in the ordinary course of the Borrowers' business and appropriate adjustments to the accounts of Account Debtors in the ordinary course of business), and (ii) the Agent is promptly notified of the amount of such adjustments and the Receivable(s) affected thereby.
Disputes, Returns and Adjustments. Borrower shall use commercially reasonable efforts to cause to be collected from its Account Debtors, as and when due, any and all amounts owing under or on account of each Account (including Accounts which are delinquent, such Accounts to be collected in accordance with lawful collection procedures) and shall apply forthwith upon receipt thereof all such amounts as are so collected to the outstanding balance of such Account.
Disputes, Returns and Adjustments. 77 SECTION 7.4 INVOICES . . . . . . . . . . . . . . . . . . . . . . . 78 SECTION 7.5 DELIVERY OF INSTRUMENTS. . . . . . . . . . . . . . . . 78 SECTION 7.6 SALES OF INVENTORY . . . . . . . . . . . . . . . . . . 78 SECTION 7.7 OWNERSHIP AND DEFENSE OF TITLE . . . . . . . . . . . . 78 SECTION 7.8 INSURANCE. . . . . . . . . . . . . . . . . . . . . . . 78 SECTION 7.9 LOCATION OF OFFICES AND COLLATERAL . . . . . . . . . . 79 SECTION 7.10 RECORDS RELATING TO COLLATERAL . . . . . . . . . . . . 80 SECTION 7.11 INSPECTION . . . . . . . . . . . . . . . . . . . . . . 80 SECTION 7.12
Disputes, Returns and Adjustments. (a) Borrower and each Guarantor shall provide Lender with prompt written notice of any dispute in excess of $50,000 under any Receivable.
(b) Borrower and each Guarantor shall notify Lender promptly of all material returns and credits in excess of $25,000 in respect of any Receivable, which notice shall specify the Receivables affected.
(c) Borrower and each Guarantor may, in the ordinary course of business and prior to a Default or an Event of Default, grant any extension of time for payment of any Receivable or compromise, compound or settle the same for less than the full amount thereof or release wholly or partly any Person liable for the payment thereof or allow any credit or discount whatsoever thereon; provided that (i) with respect to all Receivables in any fiscal year of Borrower, any and all such actions do not exceed the balance in the allowance for doubtful account reserve, and (ii) Lender is notified at least quarterly in writing of all such adjustments and the Receivable(s) affected thereby.
Disputes, Returns and Adjustments. (a) Borrower shall provide Lender with prompt written notice of amounts in excess of $50,000 that are in dispute between any Account Debtor and Borrower.
(b) Borrower shall notify Lender promptly of all returns and credits in respect of any account, which notice shall specify the accounts affected and be included in the Borrowing Base Certificate delivered to Lender in accordance with Section 8.3(d). Borrower shall notify Lender promptly of any pending return or credit in excess of $50,000, and shall specify the account affected, the related Account Debtor and the goods to be returned.
