Common use of Limitation on Modification of Accounts Clause in Contracts

Limitation on Modification of Accounts. None of the Grantors will, without the Collateral Agent's prior written consent, grant any extension of the time of payment of any of the Accounts Receivable, compromise, compound or settle the same for less than the full amount thereof, release, wholly or partly, any person liable for the payment thereof or allow any credit or discount whatsoever thereon, other than extensions, credits, discounts, compromises or settlements granted or made in the ordinary course of business and consistent with its current practices and in accordance with such prudent and standard practices used in industries that are the same as or similar to those in which such Grantor is engaged.

Appears in 21 contracts

Samples: Security Agreement (MTS Inc), Security Agreement (Lpa Services Inc), Credit Agreement (Hechinger Co)

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Limitation on Modification of Accounts. None of the Grantors will, without the Collateral Agent's prior written consent, grant any extension of the time of payment of any of the Accounts Receivable, compromise, compound or settle the same for less than the full amount thereof, release, wholly or partly, any person Person liable for the payment thereof or allow any credit or discount whatsoever thereon, other than extensions, credits, discounts, compromises or settlements granted or made in the ordinary course of business and consistent with its current practices and in accordance with such prudent and standard practices used in industries that are the same as or similar to those in which such Grantor is engaged.

Appears in 9 contracts

Samples: Canadian Security Agreement (Pliant Corp), Domestic Security Agreement (Pliant Corp), Security Agreement (Laralev Inc)

Limitation on Modification of Accounts. None of the Grantors will, without the Collateral Agent's ’s prior written consent, grant any extension of the time of payment of any of the Accounts Receivable, compromise, compound or settle the same for less than the full amount thereof, release, wholly or partly, any person Person liable for the payment thereof or allow any credit or discount whatsoever thereon, other than extensions, credits, discounts, compromises or settlements granted or made in the ordinary course of business and consistent with its current practices and in accordance with such prudent and standard practices used in industries that are the same as or similar to those in which such Grantor is engaged.

Appears in 6 contracts

Samples: Domestic Security Agreement (Pliant Corp), Canadian Security Agreement (Pliant Corp), Security Agreement (Polymer Group Inc)

Limitation on Modification of Accounts. None of the Grantors will, without the Collateral Agent's ’s prior written consent, grant any extension of the time of payment of any of the Accounts ReceivableAccounts, compromise, compound or settle the same for less than the full amount thereof, release, wholly or partly, any person Person liable for the payment thereof or allow any credit or discount whatsoever thereon, other than extensions, releases, credits, discounts, compromises or settlements (a) granted or made in the ordinary course of business and or consistent with its current practices and in accordance with such prudent and standard practices used in industries that are the same as or similar to those in which such Grantor is engagedengaged or (b) constituting a Permitted Disposition as described in clause (f) of the definition thereof.

Appears in 4 contracts

Samples: Security Agreement (Music123, Inc.), Security Agreement (Music123, Inc.), Security Agreement (COHOES FASHIONS of CRANSTON, Inc.)

Limitation on Modification of Accounts. None of the Grantors will, without the Collateral Agent's prior written consent, grant any extension of the time of payment of any of the Accounts ReceivableAccount Rights, compromise, compound or settle the same for less than the full amount thereof, release, wholly or partly, any person liable for the payment thereof or allow any credit or discount whatsoever thereon, other than extensions, credits, discounts, compromises or settlements granted or made in the ordinary course of business and consistent with its current practices and in accordance with such prudent and standard practices used in industries that are the same as or similar to those in which such Grantor is engaged.

Appears in 3 contracts

Samples: Security Agreement (New Playboy Inc), Security Agreement (Cross Country Inc), Credit Agreement (Kansas City Southern Industries Inc)

Limitation on Modification of Accounts. None of the Grantors will, without the Collateral Administrative Agent's prior written consent, grant any extension of the time of payment of any of the Accounts Receivable, compromise, compound or settle the same for less than the full amount thereof, release, wholly or partly, any person Person liable for the payment thereof or allow any credit or discount whatsoever thereon, other than extensions, credits, discounts, compromises or settlements granted or made in the ordinary course of business and consistent with its current practices and in accordance with such prudent and standard practices used in industries that are the same as or similar to those in which such Grantor is engaged.

Appears in 3 contracts

Samples: Security Agreement (Aerolink International Inc), Security Agreement (Knowles Electronics LLC), Security Agreement (Knowles Electronics LLC)

Limitation on Modification of Accounts. None of the Grantors willThe Grantor will not, without the Collateral Agent's prior written consent, grant any extension of the time of payment of any of the Accounts Receivable, compromise, compound or settle the same for less than the full amount thereof, release, wholly or partly, any person liable for the payment thereof or allow any credit or discount whatsoever thereon, other than extensions, credits, discounts, compromises or settlements granted or made in the ordinary course of business and consistent with its current practices and in accordance with such prudent and standard practices used in industries that are the same as or similar to those in which such the Grantor is engaged.

Appears in 3 contracts

Samples: Security Agreement (Lamonts Apparel Inc), Security Agreement (Tel Save Holdings Inc), Credit Agreement (Tel Save Holdings Inc)

Limitation on Modification of Accounts. None of the Grantors will, without the Collateral Agent's prior written consent, grant any extension of the time of payment of any of the Accounts Receivable, compromise, compound or settle the same for less than the full amount thereof, release, wholly or partly, any person liable for the payment thereof or allow any credit or discount whatsoever thereon, other than extensions, credits, discounts, compromises or settlements granted or made in the ordinary course of business and consistent with its current practices and in accordance with such prudent and standard practices used in industries that are the same as or similar to those in which such Grantor is engaged.

Appears in 3 contracts

Samples: Security Agreement (Century Maintenance Supply Inc), Security Agreement (Hudson Respiratory Care Inc), Security Agreement (Hudson Respiratory Care Inc)

Limitation on Modification of Accounts. None of the Grantors will, without the Collateral Agent's ’s prior written consent, grant any extension of the time of payment of any of the Accounts Receivableincluded in the Collateral, compromise, compound or settle the same for less than the full amount thereof, release, wholly or partly, any person Person liable for the payment thereof or allow any credit or discount whatsoever thereon, other than extensions, credits, discounts, compromises or settlements granted or made in the ordinary course of business and consistent with its current practices and in accordance with such prudent and standard practices used in industries that are the same as or similar to those in which such Grantor is engaged.

Appears in 2 contracts

Samples: Security Agreement (Advance Auto Parts Inc), Security Agreement (Advance Auto Parts Inc)

Limitation on Modification of Accounts. None of the Grantors will, without the Collateral Agent's prior written consent, grant any extension of the time of payment of any of the Accounts Receivableincluded in the Collateral, compromise, compound or settle the same for less than the full amount thereof, release, wholly or partly, any person Person liable for the payment thereof or allow any credit or discount whatsoever thereon, other than extensions, credits, discounts, compromises or settlements granted or made in the ordinary course of business and consistent with its current practices and in accordance with such prudent and standard practices used in industries that are the same as or similar to those in which such Grantor is engaged.

Appears in 2 contracts

Samples: Security Agreement (Western Auto Supply Co/), Credit Agreement (Western Auto Supply Co/)

Limitation on Modification of Accounts. None of the Grantors will, without the Collateral Agent's ’s prior written consent, grant any extension of the time of payment of any of the Accounts ReceivableReceivables, compromise, compound or settle the same for less than the full amount thereof, release, wholly or partly, any person liable for the payment thereof or allow any credit or discount whatsoever thereon, other than extensions, credits, discounts, compromises or settlements granted or made in the ordinary course of business and consistent with its current practices and in accordance with such prudent and standard practices used in industries that are the same as or similar to those in which such Grantor is engaged.

Appears in 2 contracts

Samples: Security Agreement (Great Atlantic & Pacific Tea Co Inc), Security Agreement (Great Atlantic & Pacific Tea Co Inc)

Limitation on Modification of Accounts. None Except with respect to Excluded Assets, none of the Grantors will, without the Collateral Agent's ’s prior written consent, grant any extension of the time of payment of any of the Accounts ReceivableAccounts, compromise, compound or settle the same for less than the full amount thereof, release, wholly or partly, any person liable for the payment thereof or allow any credit or discount whatsoever thereon, other than extensions, credits, discounts, compromises or settlements granted or made in the ordinary course of business and consistent with its current practices and in accordance with such prudent and standard practices used in industries that are the same as or similar to those in which such Grantor is engaged.

Appears in 2 contracts

Samples: Credit Agreement (Trimas Corp), Credit Agreement (Trimas Corp)

Limitation on Modification of Accounts. None of the -------------------------------------- Grantors will, without the Collateral Agent's prior written consent, grant any extension of the time of payment of any of the Accounts ReceivableAccount Rights, compromise, compound or settle the same for less than the full amount thereof, release, wholly or partly, any person liable for the payment thereof or allow any credit or discount whatsoever thereon, other than extensions, credits, discounts, compromises or settlements granted or made in the ordinary course of business and consistent with its current practices and in accordance with such prudent and standard practices used in industries that are the same as or similar to those in which such Grantor is engaged.

Appears in 1 contract

Samples: Security Agreement (Kansas City Southern Industries Inc)

Limitation on Modification of Accounts. None Except with respect to Excluded Assets, none of the Grantors will, without the Collateral Agent's ’s prior written consent, grant any extension of the time of payment of any of the Accounts Receivable, compromise, compound or settle the same for less than the full amount thereof, release, wholly or partly, any person liable for the payment thereof or allow any credit or discount whatsoever thereon, other than extensions, credits, discounts, compromises or settlements granted or made in the ordinary course of business and consistent with its current practices and in accordance with such prudent and standard practices used in industries that are the same as or similar to those in which such Grantor is engaged.

Appears in 1 contract

Samples: Credit Agreement (Trimas Corp)

Limitation on Modification of Accounts. None of the Grantors will, without the Collateral Agent's prior written consent, grant any extension of the time of payment of any of the Accounts Receivable, compromise, compound or settle the same for less than the full amount thereof, release, wholly or partly, any person liable for the payment thereof or allow any 248 12 credit or discount whatsoever thereon, other than extensions, credits, discounts, compromises or settlements granted or made in the ordinary course of business and consistent with its current practices and in accordance with such prudent and standard practices used in industries that are the same as or similar to those in which such Grantor is engaged.

Appears in 1 contract

Samples: Credit Agreement (Fairchild Semiconductor International Inc)

Limitation on Modification of Accounts. None of the Grantors No Grantor will, without the Collateral Agent's prior written consent, grant any extension of the time of payment of any of the Accounts Receivable, compromise, compound or settle the same for less than the full amount thereof, release, wholly or partly, any person liable for the payment thereof or allow any credit or discount whatsoever thereon, other than extensions, credits, discounts, compromises or settlements granted or made in the ordinary course of business and consistent with its current practices and in accordance with such prudent and standard practices used in industries that are the same as or similar to those in which such Grantor is engaged.

Appears in 1 contract

Samples: Security Agreement (Monterey Carpets Inc)

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Limitation on Modification of Accounts. None of the Grantors will, without the Collateral Agent's ’s prior written consent, grant any extension of the time of payment of any of the Accounts Receivable, compromise, compound or settle the same for less than the full amount thereof, release, wholly or partly, any person Person liable for the payment thereof or allow any credit or discount whatsoever thereon, other than extensions, credits, discounts, compromises or settlements granted or made in the ordinary course of business and consistent with its current past practices and in accordance with such prudent and standard practices used in industries that are the same as or similar to those in which such Grantor is engaged.

Appears in 1 contract

Samples: Security Agreement (Fairpoint Communications Inc)

Limitation on Modification of Accounts. None of the -------------------------------------- Grantors will, without the Collateral Agent's prior written consent, grant any extension of the time of payment of any of the Accounts Receivable, compromise, compound or settle the same for less than the full amount thereof, release, wholly or partly, any person Person liable for the payment thereof or allow any credit or discount whatsoever thereon, other than extensions, credits, discounts, compromises or settlements granted or made in the ordinary course of business and consistent with its current practices and in accordance with such prudent and standard practices used in industries that are the same as or similar to those in which such Grantor is engaged.

Appears in 1 contract

Samples: Credit Agreement (Ixl Enterprises Inc)

Limitation on Modification of Accounts. None of the Grantors will, without the prior written consent of the Collateral Agent's prior written consent, grant any extension of the time of payment of any of the Accounts Receivable, compromise, compound or settle the same for less than the full amount thereof, release, wholly or partly, any person liable for the payment thereof or allow any credit or discount whatsoever thereon, other than extensions, credits, discounts, compromises or settlements granted or made in the ordinary course of business and consistent with its current practices and in accordance with such prudent and standard practices used in industries that are the same as or similar to those in which such Grantor is engaged.

Appears in 1 contract

Samples: Credit Agreement (Phillips Van Heusen Corp /De/)

Limitation on Modification of Accounts. None of the Grantors will, without the Collateral Agent's ’s prior written consent, grant any material extension of the time of payment of any of the Accounts ReceivableAccounts, compromise, compound or settle the same for less than the full amount thereof, release, wholly or partly, any person Person liable for the payment thereof or allow any credit or discount whatsoever thereon, other than extensions, releases, credits, discounts, compromises or settlements granted or made in the ordinary course of business and consistent with its current practices and in accordance with such prudent and standard practices used in industries that are the same as or similar to those in which such Grantor is engaged.

Appears in 1 contract

Samples: Security Agreement (Dri I Inc)

Limitation on Modification of Accounts. None of the Grantors will, without the Collateral Agent's prior written consent, grant any extension of the time of payment of any of the Accounts Receivable, compromise, compound or settle the same for less than the full amount thereof, release, wholly or partly, any person Person liable for the payment thereof or allow any credit or discount whatsoever thereon, other than extensions, ,credits, discounts, compromises or settlements granted or made in the ordinary course of business and consistent with its current practices and in accordance with such prudent and standard practices used in industries that are the same as or similar to those in which such Grantor is engaged.

Appears in 1 contract

Samples: Security Agreement (Huntsman Packaging Corp)

Limitation on Modification of Accounts. None of the Grantors will, without the Collateral Agent's ’s prior written consent, grant any extension of the time of payment of any of the Accounts Receivable, compromise, compound or settle the same for less than the full amount thereof, release, wholly or partly, any person liable for the payment thereof or allow any credit or discount whatsoever thereon, other than extensions, credits, discounts, compromises or settlements granted or made in the ordinary course of business and consistent with its current practices and in accordance with such prudent and standard practices used in industries that are the same as or similar to those in which such the applicable Grantor is engaged.

Appears in 1 contract

Samples: Security Agreement (Iowa Telecommunications Services Inc)

Limitation on Modification of Accounts. None of the Grantors will, without the U.S. Collateral Agent's ’s prior written consent, grant any extension of the time of payment of any of the Accounts Receivable, compromise, compound or settle the same for less than the full amount thereof, release, wholly or partly, any person liable for the payment thereof or allow any credit or discount whatsoever thereon, other than extensions, credits, discounts, compromises or settlements granted or made in the ordinary course of business and consistent with its current practices and in accordance with such prudent and standard practices used in industries that are the same as or similar to those in which such Grantor is engaged.

Appears in 1 contract

Samples: Credit Agreement (Oil States International, Inc)

Limitation on Modification of Accounts. None of the Grantors will, without the Collateral Agent's ’s prior written consent, grant any extension of the time of payment of any of the Accounts ReceivableAccounts, compromise, compound or settle the same for less than the full amount thereof, release, wholly or partly, any person Person liable for the payment thereof or allow any credit or discount whatsoever thereon, other than extensions, releases, credits, discounts, compromises or settlements granted or made in the ordinary course of business and consistent with its current practices and in accordance with such prudent and standard practices used in industries that are the same as or similar to those in which such Grantor is engaged.

Appears in 1 contract

Samples: Term Loan Credit Agreement (Pier 1 Imports Inc/De)

Limitation on Modification of Accounts. None of the Grantors will, without the Collateral Agent's prior written consent, grant any extension of the time of payment of any of the Accounts ReceivableReceivable (when such Accounts Receivable are deemed not to be Excluded Assets), compromise, compound or settle the same for less than the full amount thereof, release, wholly or partly, any person liable for the payment thereof or allow any credit or discount whatsoever thereon, other than extensions, credits, discounts, compromises or settlements granted or made in the ordinary course of business and consistent with its current practices and in accordance with such prudent and standard practices used in industries that are the same as or similar to those in which such Grantor is engaged.

Appears in 1 contract

Samples: Credit Agreement (Burlington Industries Inc /De/)

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