DISPUTES WITH ACCOUNT DEBTORS Sample Clauses

DISPUTES WITH ACCOUNT DEBTORS it will notify the Agent promptly of all disputes and claims with Account Debtors in excess of L50,000 and settle or adjust them, or ensure that the relevant Trading Company settles or adjusts them, at no expense to the Lenders, but no discount, credit or allowance shall be granted to any Account Debtor without the Agent's consent, except for discounts, credits and allowances made or given in the ordinary course of trading when no Event of Default exists hereunder. Ideal shall send, or procure that there is sent to, the Agent a copy of each credit note in excess of L1,000,000 as soon as issued and a list of all credit notes in excess of L750,000 on a weekly basis, with copies of any such credit notes to be supplied to the Agent at the Agent's request;
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DISPUTES WITH ACCOUNT DEBTORS. 10.1 Client shall promptly notify SLF of any dispute between Client and an Account Debtor concerning an Account (an "Account Debtor Dispute"). 10.2 Client shall promptly issue credit notes for returned Goods as accepted by Client from any Account Debtor and provide SLF with a copy of any credit note issued by Client to an Account Debtor as soon as that credit note is issued. SLF shall continue to have a protected security interest in returned Goods until SLF has received payment in full of all Indebtedness relating to an Account in respect of which Goods have been returned. In addition, Section 10.3 shall apply mutatis mutandis to returned Goods as if the returned Goods were repossessed Goods. 10.3 At SLF's request and notwithstanding the purchase by SLF of the Accounts in respect of which there is a dispute, Client shall exercise its rights as an unpaid vendor including Client's right of repossession, if any, with respect to any Account purchased by SLF Repossessed merchandise recovered from Account Debtors in respect to which there are monies due and owing to SLF pertaining to an Account purchased by SLF from Client shall be held by Client in trust for SLF until such time as SLF is paid in full with respect to any Indebtedness due and owing to SLF from Client and, at SLF's request, Client shall use Client's best efforts to sell such merchandise for SLF. Notwithstanding the repossession and sale of any Goods by Client in accordance with this section and for greater clarity, Client is not an employee or agent of SLF; Client and SLF are not partners or joint venturers with each other, and nothing herein shall be construed so as to make Client and SLF partners or joint venturers, to make Client an employee or agent of SLF or to impose any liability as partner, joint venturer, employer or employee or principal or agent on Client or SLF, as the case may be. 10.4 Client shall not institute legal or collection proceedings against any Account Debtor from whom monies are due and owing to SLF with respect to an Account purchased by SLF without obtaining SLF's prior written consent thereto. 10.5 SLF may commence legal or collection proceedings in respect of any unpaid Account upon providing prior notice to Client. In cases of urgency, SLF may commence such proceedings in its discretion without providing notice to Client. Upon SLF advising Client of its intention to commence proceedings, Client may instruct SLF not to proceed accompanied by payment in full to SLF fro...
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DISPUTES WITH ACCOUNT DEBTORS it will notify the Agent promptly of all disputes and claims with Account Debtors in excess of £50,000 and settle or adjust them, or ensure that the relevant Trading Company settles or adjusts them, at no expense to the Lenders, but no discount, credit or allowance shall be granted to any Account Debtor without the Agent’s consent, except for discounts, credits and allowances made or given in the ordinary course of trading when no Event of Default exists hereunder. BMUK shall send, or procure that there is sent to, the Agent a copy of each credit note in excess of £1,000,000 as soon as issued and a list of all credit notes in excess of £750,000 on a weekly basis, with copies of any such credit notes to be supplied to the Agent at the Agent’s request;
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DISPUTES WITH ACCOUNT DEBTORS. Borrower will immediately notify Crestmark of any invoices that have been rejected or the amount thereof disputed, in whole or in part, by any Account Debtor. These invoices will then be eliminated as an Eligible Account Receivable. Borrower must also immediately inform Crestmark of Borrower's receipt of written or verbal notice of the rejection of goods or services by any Account Debtor, delays in delivery of goods, non-performance of contracts or services, and of any assertion or threatened assertion of any claims, offsets or counterclaims by Account Debtors. Borrower will also furnish to, and inform Crestmark of, to the extent confirmed by Borrower, all material adverse information relating to the financial condition of any Account Debtor.
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DISPUTES WITH ACCOUNT DEBTORS it shall notify the Bank promptly of all disputes and claims with Account Debtors in excess of(pound)50,000 and settle or adjust them at no expense to the Bank, but no discount, credit or allowance shall be granted to any Account Debtor without the Bank's consent, except for discounts, credits and allowances made or given in the ordinary course of the Borrower's business when no Event of Default exists hereunder. The Borrower shall send the Bank a copy of each credit notes in excess of(pound)50,000 as soon as issued and copies of all credit notes on a weekly basis. The Bank may at all times after a demand for payment has been made under clause 16.2 settle or adjust disputes and claims directly with customers or Account Debtors for amounts and upon terms which the Bank considers advisable and, in all cases, the Bank will credit the Borrower's loan account with only the net amounts received by the Bank in payment of any Accounts;
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Related to DISPUTES WITH ACCOUNT DEBTORS

  • Notification of Account Debtors MLBFS may notify any Account Debtor that its Account or Chattel Paper has been assigned to MLBFS and direct such Account Debtor to make payment directly to MLBFS of all amounts due or becoming due with respect to such Account or Chattel Paper; and MLBFS may enforce payment and collect, by legal proceedings or otherwise, such Account or Chattel Paper.

  • Notice to Account Debtors Lender may, at any time after an Event of Default, notify the account debtors and obligors of any accounts, chattel paper, negotiable instruments or other evidences of indebtedness to Borrower included in the Property to pay Lender directly. Borrower shall at any time or from time to time upon the request of Lender provide to Lender a current list of all such account debtors and obligors and their addresses.

  • Direction to Account Debtors; Contracting Parties; etc Upon the occurrence and during the continuance of an Event of Default, if the Collateral Agent so directs any Assignor, such Assignor agrees (x) to cause all payments on account of the Receivables and Contracts to be made directly to one or more Cash Collateral Accounts (as the Collateral Agent shall so direct), (y) that the Collateral Agent may, at its option, directly notify the obligors with respect to any Receivables and/or under any Contracts to make payments with respect thereto as provided in the preceding clause (x), and (z) that the Collateral Agent may enforce collection of any such Receivables and Contracts and may adjust, settle or compromise the amount of payment thereof, in the same manner and to the same extent as such Assignor. Without notice to or assent by any Assignor, the Collateral Agent may, upon the occurrence and during the continuance of an Event of Default, apply any or all amounts then in, or thereafter deposited in, the Cash Collateral Accounts which application shall be effected in the manner provided in Section 7.4 of this Agreement. The reasonable costs and expenses (including reasonable attorneys' fees) of collection, whether incurred by an Assignor or the Collateral Agent, shall be borne by the relevant Assignor. The Collateral Agent shall deliver a copy of each notice referred to in the preceding clause (y) to the relevant Assignor, provided, that the failure by the Collateral Agent to so notify such Assignor shall not affect the effectiveness of such notice or the other rights of the Collateral Agent created by this Section 3.3.

  • Settlement of Disputes between the Contracting Parties 1. Disputes between the Contracting Parties concerning the interpretation or application of this Agreement should, if possible, be settled through diplomatic channels. 2. If a dispute between the contracting Parties cannot thus be settled, it shall upon the request of either Contracting Party be submitted to an arbitral tribunal. 3. Such as arbitral tribunal shall be constituted for each individual case in the following way. Within two months of the receipt of the request for arbitration, each Contracting Party shall appoint one member of the tribunal. Those two members shall then select a national of a third State who an approval by the two Contracting Parties shall be appointed Chairman of the tribunal. The Chairman shall be appointed within two months from the date of appointment of the other two members. 4. If within the periods specified in paragraph 3 of this Article the necessary appointments have not been made either Contracting Party may, in the absence of any other agreement, invite the President of the International Court of Justice to make any necessary appointments. If the President is a national of either Contracting Party or if he is otherwise prevented from discharging the said function, the Vice-President shall be invited to make the necessary appointments. If the vice- President is a national of either Contracting Party or if he too is prevented form discharging the said function, the members of the International Court of Justice next in seniority who is not a national of either Contracting Party Shall be invited to make the necessary appointments. 5. The arbitral tribunal shall reach its decision by a majority of votes. Such decision shall be binding on both Contracting Parties. Each Contracting Party shall bear the cost of its own member of the tribunal and of its representation in the arbitral proceedings; the cost of the Chairman and the remaining cost shall be borne in equal parts by the Contracting Parties. The tribunal may, however, in its decision direct that a higher proportion of costs shall be borne by one of the two Contracting Parties, and this award shall be binding on both Contracting Parties. The tribunal shall determine its won procedure.

  • Settlement of Disputes between Contracting Parties 1. Should any dispute arise concerning the interpretation or application of this Agreement the Contracting Parties shall try to settle the dispute amicably. 2. If the dispute cannot be settled in a such manner it shall, upon the request of either Contracting Party, be submitted to an ad hoc Arbitral Tribunal in accordance with the provisions of this Article. 3. The Arbitral Tribunal shall be constituted in the following way: within two months of the receipt of the request for arbitration, each Contracting Party shall appoint one arbitrator. The two arbitrators will choose a national of a third State who, on the approval by the two Contracting Parties, shall act as chairman of the Tribunal (hereinafter referred to as "the Chairman"). The Chairman shall be appointed within two months from the date of appointment of the other two arbitrators. 4. If within the period specified in paragraph 3 of this Article either Contracting Party shall not have appointed its arbitrator or the two arbitrators shall not have agreed on the chairman, a request may be made to the President of the International Court of Justice to make the appointment. If he is a national of either Contracting Party or if he is otherwise prevented from discharging the said function, the Vice-President shall be invited to make the appointment. If the Vice-President also is a national of either Contracting Party or is prevented from discharging the said function, the member of the International Court of Justice next in seniority who is not a national of either Contracting Party shall be invited to make the appointment. 5. The Arbitral Tribunal shall reach its decision by a majority of votes, such decision shall be final and binding. Each contracting Party shall bear the costs of its own arbitrator and its counsel in the arbitral proceedings, the costs of the chairman and the remaining costs shall be borne in equal parts by both Contracting Parties. The Tribunal may, however, in its decision direct that a higher proportion of costs shall be borne by one of the two Contracting Parties. The Arbitral Tribunal shall determine its own procedure.

  • Accounts Receivable and Accounts Payable (a) The Seller agrees that it will utilize normal collection efforts consistent with past business practices of the Seller in collecting the outstanding accounts receivable of the Seller generated by the Purchased Assets as of the Effective Date. The Seller shall not undertake any formal collection action (whether legal action, referral to a collection agency or otherwise) with respect to any such Account Receivable without first consulting with the Buyer. The Seller agrees to pay, in a manner consistent with past business practice of the Seller, the outstanding accounts payable of the Seller as of the Effective Date. The Buyer shall not, and shall not permit its employees, officers, directors, independent contractors or agents to, directly or indirectly, encourage any customer of Seller not to make payment on any accounts receivable of Seller or commit any action which could reasonably lead or cause any customer not to make such a payment and the Buyer shall otherwise cooperate with Seller and its designees (and cause its personnel and accountants to cooperate) in Seller’s collection efforts. (b) Both parties agree, as expeditiously as possible, to notify the Customers set forth on Exhibit 2.25, of the sale of the Purchased Assets, and to instruct such Customers that any monies due on invoices for service periods prior to the Effective Date shall be paid to Seller/Capital via the Capital lockbox mechanism, and all monies due on invoices for service periods subsequent to the Effective Date shall be paid to Buyer. The parties agree that in the event payments are received by either of the parties on accounts receivable from customers who are customers of both of the Buyer and Seller, and in the event that the customer has not provided instructions on the face of the remittance or any accompanying documentation or correspondence, the party receiving such payment shall contact the Customer to ascertain how the payment is to be applied. In the event such inquiry is unsuccessful, then such payments shall be applied first to the oldest outstanding invoice(s). In the event that either party receives proceeds of accounts receivable which belong to the other party, such party will immediately remit such proceeds, in kind, to the other party; provided, however, that, in the case of monies being received by Buyer and due to Seller, such proceeds shall be remitted to the Capital lockbox.

  • Account Debtor The words "Account Debtor" mean the person or entity obligated upon an Account.

  • Notification to Account Debtors and Other Persons Obligated on Collateral If an Event of Default shall have occurred and be continuing: (a) the Company shall, at the request and option of the Secured Party, notify account debtors and other persons obligated on any of the Collateral of the security interest of the Secured Party in any account, chattel paper, general intangible, instrument or other Collateral and that payment thereof is to be made directly to the Secured Party or to any financial institution designated by the Secured Party as the Secured Party’s agent therefor; (b) the Secured Party may itself, without notice to or demand upon the Company, so notify account debtors and other persons obligated on Collateral; (c) after the making of such a request or the giving of any such notification, the Company shall hold any proceeds of collection of accounts, chattel paper, general intangibles, instruments and other Collateral received by the Company as trustee for the Secured Party, for the benefit of the Secured Party, without commingling the same with other funds of the Company and shall turn the same over to the Secured Party in the identical form received, together with any necessary endorsements or assignments; and (d) the Secured Party shall apply the proceeds of collection of accounts, chattel paper, general intangibles, instruments and other Collateral and received by the Secured Party to the payment of the Obligations, such proceeds to be immediately credited after final payment in cash or other immediately available funds of the items giving rise to them.

  • Accounts Receivable and Payable The accounts receivable reflected on the Financial Statements arose in the ordinary course of business and, except as reserved against on the Financial Statements, are collectible in the ordinary course of business and consistent with past practices, free of any claims, rights or defenses of any account debtor. No accounts payable of the Company are over forty-five (45) days old.

  • CONTRACTS WITH ELIGIBLE FOREIGN CUSTODIANS The Foreign Custody Manager shall determine that the contract governing the foreign custody arrangements with each Eligible Foreign Custodian selected by the Foreign Custody Manager will satisfy the requirements of Rule 17f-5(c)(2).

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