Common use of Limitations on Discounts, Compromises, Extensions of Accounts Clause in Contracts

Limitations on Discounts, Compromises, Extensions of Accounts. Other than in the ordinary course of business as generally conducted by each Grantor over a period of time, no Grantor will grant any extension of the time of payment of any of the Accounts, compromise, compound or settle the same for less than the full amount thereof, release, wholly or partially, any Person liable for the payment thereof, or allow any credit or discount whatsoever thereon.

Limitations on Discounts, Compromises, Extensions of Accounts. Other than in the ordinary course of business as generally conducted by each Grantor over a period of timeconsistent with its past practice, no Grantor will (i) grant any extension of the time of payment of any of the AccountsAccount, (ii) compromise, compound or settle the same any Account for less than the full amount thereof, (iii) release, wholly or partially, any Person liable for the payment thereofof any Account, or (iv) allow any credit or discount whatsoever thereonon any Account.