Inventory; Returns. Keep all Inventory in good and marketable condition, free from material defects except for Inventory for which adequate reserves have been made. Returns and allowances between Borrower, or any of its Subsidiaries, and their respective Account Debtors shall follow Borrower’s, or such Subsidiary’s, customary practices as they exist at the Effective Date. Borrower must promptly notify Collateral Agent and the Lenders of all returns, recoveries, disputes and claims that involve more than Two Hundred Fifty Thousand Dollars ($250,000.00) individually or in the aggregate in any calendar year.
Appears in 5 contracts
Samples: Loan and Security Agreement (Centogene N.V.), Loan and Security Agreement (Zogenix, Inc.), Loan and Security Agreement (Apricus Biosciences, Inc.)
Inventory; Returns. Keep all Inventory in good and marketable condition, free from material defects defects, except for Inventory for which adequate reserves have been made. Returns and allowances between Borrower, or any of its Subsidiaries, and their respective Account Debtors shall follow Borrower’s, or such Subsidiary’s, customary practices as they exist at the Effective Date. Borrower must promptly notify Collateral Agent and the Lenders of all returns, recoveries, disputes and claims that involve more than Two Hundred Fifty Thousand Dollars ($250,000.00) individually or in the aggregate in any calendar year.
Appears in 3 contracts
Samples: Loan and Security Agreement (Inhibrx, Inc.), Loan and Security Agreement (Inhibrx, Inc.), Loan and Security Agreement (Inhibrx, Inc.)
Inventory; Returns. Keep all Inventory in good and marketable condition, free from material defects defects, except for Inventory for which adequate reserves have been mademade in amounts reasonably acceptable to Lenders. Returns and allowances between Borrower, or any of Borrower and its Subsidiaries, and their respective Account Debtors shall follow Borrower’s, or such Subsidiary’s, ’s customary practices as they exist at the Effective Date. Borrower must promptly notify Collateral Agent and the Lenders of all returns, recoveries, disputes and claims that involve more than Two One Hundred Fifty Thousand Dollars ($250,000.00) 150,000), individually or in the aggregate in any calendar year.
Appears in 3 contracts
Samples: Loan and Security Agreement (Vitae Pharmaceuticals, Inc), Loan and Security Agreement (Vitae Pharmaceuticals, Inc), Loan and Security Agreement (Vitae Pharmaceuticals, Inc)
Inventory; Returns. Keep all Inventory in good and marketable condition, free from material defects defects, except for Inventory for which adequate reserves have been madeare maintained. Returns and allowances between Borrower, or any of its Subsidiaries, and their respective Account Debtors shall follow Borrower’s, or such Subsidiary’s, customary practices as they exist at the Effective Date. Borrower must promptly notify Collateral Agent and the Lenders of all returns, recoveries, disputes and claims that involve more than Two One Hundred Fifty Thousand Dollars ($250,000.00100,000.00) individually or in the aggregate in any calendar year.
Appears in 2 contracts
Samples: Loan and Security Agreement, Loan and Security Agreement (Restoration Robotics Inc)
Inventory; Returns. Keep all Inventory in good and marketable condition, free from material defects except for Inventory for which adequate reserves have been made. Returns and allowances between Borrower, or any of its Subsidiaries, and their respective Account Debtors shall follow Borrower’s, or such Subsidiary’s, customary practices as they exist at the Effective Date. Borrower must promptly notify Collateral Agent and the Lenders of all returns, recoveries, disputes and claims that involve more than Two One Hundred Fifty Thousand Dollars ($250,000.00100,000.00) individually or in the aggregate in any calendar year.
Appears in 2 contracts
Samples: Loan and Security Agreement (Acceleron Pharma Inc), Loan and Security Agreement (Acceleron Pharma Inc)
Inventory; Returns. Keep all Inventory in good and marketable condition, free from material defects defects, except for obsolete Inventory for which adequate reserves have been made. Returns and allowances between Borrower, or any of its Subsidiaries, and their respective Account Debtors shall substantially follow Borrower’s, or such Subsidiary’s, customary practices as they exist at the Effective Date. Borrower must promptly notify Collateral Agent and the Lenders of all returns, recoveries, disputes and claims that involve more than Two Hundred Fifty Thousand Dollars ($250,000.00) individually or in the aggregate in any calendar year.
Appears in 2 contracts
Samples: Loan and Security Agreement (Durect Corp), Loan and Security Agreement (Durect Corp)
Inventory; Returns. Keep all Inventory in good and marketable condition, free from material defects except for Inventory for which adequate reserves have been madedefects. Returns and allowances between Borrower, or any of its Subsidiaries, and their respective Account Debtors shall follow Borrower’s, or such Subsidiary’s, customary practices as they exist at the Effective Date. Borrower must promptly notify Collateral Agent and the Lenders of all returns, recoveries, written disputes and written claims with respect to Borrower’s Inventory that involve more than Two Hundred Fifty Thousand Dollars ($250,000.00) individually or in the aggregate in any calendar year.
Appears in 2 contracts
Samples: Loan and Security Agreement (Visterra, Inc.), Loan and Security Agreement (Visterra, Inc.)
Inventory; Returns. Keep all Inventory in good and marketable condition, free from material defects except for Inventory for which adequate reserves have been made. Returns and allowances between Borrower, or any of its Subsidiaries, and their respective Account Debtors shall follow Borrower’s, or such Subsidiary’s, customary practices as they exist at the Effective Date. Borrower must promptly notify Collateral Agent and the Lenders of all returns, recoveries, disputes and claims that involve more than Two Five Hundred Fifty Thousand Dollars ($250,000.00500,000.00) individually or in the aggregate in any calendar year.
Appears in 2 contracts
Samples: Loan and Security Agreement (Puma Biotechnology, Inc.), Loan and Security Agreement (Puma Biotechnology, Inc.)
Inventory; Returns. Keep all Inventory in good and marketable condition, free from material defects except for Inventory for which adequate reserves have been made. Returns and allowances between Borrower, or any of its Subsidiaries, and their respective Account Debtors shall follow Borrower’s, or such Subsidiary’s, customary practices as they exist at the Effective Date. Borrower must promptly notify Collateral Agent and the Lenders of all returns, recoveries, disputes and claims that involve more than Two Hundred Fifty Thousand Dollars ($250,000.00) individually or in the aggregate in any calendar year.
Appears in 1 contract
Inventory; Returns. Keep all Inventory in good and marketable condition, free from material defects except for Inventory for which adequate reserves have been made. Returns and allowances between Borrower, or any of its Subsidiaries, and their respective Account Debtors shall follow Borrower’s, or such Subsidiary’s, customary practices as they exist at the Effective Date. Borrower must promptly notify Collateral Agent and the Lenders of all returns, recoveries, disputes and claims that involve more than Two Seven Hundred Fifty Thousand Dollars ($250,000.00750,000.00) individually or in the aggregate in any calendar year.
Appears in 1 contract
Samples: Loan and Security Agreement (Halozyme Therapeutics Inc)
Inventory; Returns. Keep all Inventory in good and marketable condition, free from material defects except for Inventory for which adequate reserves have been madedefects. Returns and allowances between Borrower, or any of its Subsidiaries, and their respective Account Debtors shall follow Borrower’s, or such Subsidiary’s, customary practices as they exist at the Effective DateDate or as are approved in writing by Collateral Agent from time to time. Borrower must promptly notify Collateral Agent and the Lenders of all returns, recoveries, disputes and claims that involve more than Two Hundred Fifty Thousand Dollars ($250,000.00250,000) individually or in the aggregate in any calendar year.
Appears in 1 contract
Samples: Loan and Security Agreement (NanoString Technologies Inc)
Inventory; Returns. Keep all Inventory in good and marketable condition, free from material defects except for Inventory for which adequate reserves have been made. Returns and allowances between Borrower, or any of its Subsidiaries, and their respective Account Debtors shall follow Borrower’s, or such Subsidiary’s, customary practices as they exist at on the Effective Date. Borrower must promptly notify Collateral Agent and the Lenders of all returns, recoveries, disputes and claims that involve more than Two Hundred Thousand Fifty Thousand Dollars ($250,000.00) individually or in the aggregate in any calendar year.
Appears in 1 contract
Samples: Loan and Security Agreement (Conatus Pharmaceuticals Inc)
Inventory; Returns. Keep all unexpired Inventory in good and marketable condition, free from material defects defects, except for Inventory for which adequate reserves have been madedefects arising in the ordinary course of business. Returns and allowances between Borrower, or any of its Subsidiaries, and their respective Account Debtors shall follow Borrower’s, or such Subsidiary’sSubsidiaries’, customary practices as they exist at the Effective Date. Borrower must promptly notify Collateral Agent and the Lenders of all returns, recoveries, disputes and claims that involve more than Two Hundred Fifty Thousand One Million Dollars ($250,000.001,000,000.00) individually or in the aggregate in any calendar year.
Appears in 1 contract
Samples: Loan and Security Agreement (Lexicon Pharmaceuticals, Inc.)
Inventory; Returns. Keep all Inventory in good and marketable condition, free from material defects except for Inventory for which adequate reserves have been madedefects. Returns and allowances between Borrower, or any of its Subsidiaries, and their respective Account Debtors shall follow Borrower’s, or such Subsidiary’s, customary practices as they exist at the Effective Date. Borrower must promptly notify Collateral Agent and the Lenders of all returns, recoveries, disputes and claims that involve more than Two Hundred Fifty Thousand One Million Dollars ($250,000.001,000,000.00) individually or in the aggregate in the 2019 calendar year and Two Million Dollars ($2,000,000.00) individually or in the aggregate in any calendar yearyear thereafter.
Appears in 1 contract
Samples: Loan and Security Agreement (Acelrx Pharmaceuticals Inc)
Inventory; Returns. Keep all Inventory in good and marketable condition, free from material defects except for Inventory for which adequate reserves have been made. Returns and allowances between Borrower, or any of its Subsidiaries, and their respective Account Debtors shall follow Borrower’s, or such Subsidiary’s, customary practices as they exist at the Effective Date. Borrower must promptly notify Collateral Agent and the Lenders of all returns, recoveries, disputes and claims that involve more than Two Three Hundred Fifty Thousand Dollars ($250,000.00300,000.00) individually or in the aggregate in any calendar year.
Appears in 1 contract
Inventory; Returns. Keep all Inventory in good and marketable condition, free from material defects defects, except for Inventory for which adequate reserves have been made. Returns and allowances between Borrower, or any of its Subsidiaries, and their respective Account Debtors shall follow Borrower’s, or such Subsidiary’s, customary practices as they exist at the Effective Date. Borrower must promptly notify Collateral Agent and the Lenders of all returns, recoveries, disputes and claims that involve more than Two Hundred Fifty Thousand Dollars ($250,000.00200,000) individually or in the aggregate in any calendar year.
Appears in 1 contract
Samples: Loan and Security Agreement (Rib-X Pharmaceuticals, Inc.)