French Accounts Clause Samples

French Accounts. The French Borrower shall ensure that (i) a copy of, or reference to, the French Borrower’s standard terms and conditions of purchase is attached to or included on (as applicable) each purchase order or equivalent document with their suppliers, (ii) its standard terms and conditions of purchase at all times contain a condition to the effect that title to the purchased goods transfers to the French Borrower at a time no later than on delivery of the purchased goods to the French Borrower, (iii) its standard terms and conditions of purchase are not amended without the prior consent in writing of the Administrative Agent, and (iv) if the reference on any purchase order or equivalent document is to the standard terms and conditions of purchase as set out on a specified website, the relevant website must be maintained, be up to date and be publicly accessible at all times. During any Cash Dominion Period or at any other time at which the Administrative Agent considers that the Collateral of the French Borrower may be at risk, at the request of the Administrative Agent, the French Borrower must send a copy of its standard terms and conditions of purchase (or other notice satisfactory to the Administrative Agent which rejects retention of title and/or extendible retention of title provisions in relation to the French Borrower’s Inventory) to its suppliers. 942882452.15

French Accounts. Not, and not permit any of the Loan Parties to, maintain more than $500,000 in the aggregate at any time in foreign deposit accounts or foreign securities accounts.