Common use of DISPUTES WITH ACCOUNT DEBTORS Clause in Contracts

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;

DISPUTES WITH ACCOUNT DEBTORS. it will notify the Agent promptly of all disputes and claims with Account Debtors in excess of L50,000 of(pound)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. Ideal shall send, or procure that there is sent to, the Agent a copy of each credit note in excess of L1,000,000 of(pound)1,000,000 as soon as issued and a list of all credit notes in excess of L750,000 of(pound)750,000 on a weekly basis, with copies of any such credit notes to be supplied to the Agent at the Agent's request;