Common use of Limitations on Modifications of Accounts Clause in Contracts

Limitations on Modifications of Accounts. Such Grantor will not, without the Administrative Agent's prior written consent, grant any extension of the time of payment of any of the Accounts, Chattel Paper or Instruments, 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 any of the foregoing which are done in the ordinary course of business, consistent with past practices and trade discounts granted in the ordinary course of business of such Grantor.

Appears in 3 contracts

Samples: Secured Super Priority Debtor in Possession Credit Agreement (Globalstar Telecommunications LTD), Revolving Credit Agreement (Classic Cable Inc), Secured Super Priority Debtor in Possession Credit Agreement (Conseco Inc)

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Limitations on Modifications of Accounts. Such Grantor will not, without the Administrative Agent's Lender’s prior written consent, grant any extension of the time of payment of any of the Accounts, Chattel Paper or Instruments, 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 any of the foregoing which are done in the ordinary course of business, consistent with past practices and trade discounts granted in the ordinary course of business of such Grantor.

Appears in 1 contract

Samples: Secured Super Priority Debtor in Possession Credit Agreement (Globalstar Lp)

Limitations on Modifications of Accounts. Such Grantor will not, without the Administrative Agent's prior written consent, grant any extension of the time of payment of any of the Accounts, Accounts Receivable, Chattel Paper Paper, Instruments, Payment Intangibles or InstrumentsSupporting Obligations, 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 any of the foregoing which are done in the ordinary course of business, consistent with past practices and trade discounts granted in the ordinary course of business of such Grantor.

Appears in 1 contract

Samples: Secured Super Priority Debtor in Possession Revolving Credit Agreement (Kasper a S L LTD)

Limitations on Modifications of Accounts. Such Grantor will not, without the Administrative Agent's prior written consent, grant any extension of the time of payment of any of the Accounts, Chattel Paper or Instruments, 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 any of the foregoing which are done in the ordinary course of business, consistent with past practices and trade discounts and other modifications granted in the ordinary course of business of such Grantor and in accordance with Grantor's usual and customary business practice in effect on the Closing Date.

Appears in 1 contract

Samples: General Security Agreement (Venture Stores Inc)

Limitations on Modifications of Accounts. Such Grantor will not, without the Administrative AgentLender's prior written consent, grant any extension of the time of payment of any of the Accounts, Chattel Paper or Instruments, 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 any of the foregoing which are done in the ordinary course of business, consistent with past practices and trade discounts granted in the ordinary course of business of such Grantor.

Appears in 1 contract

Samples: Secured Super Priority Debtor in Possession Credit Agreement (Globalstar Lp)

Limitations on Modifications of Accounts. Such Grantor will not, without the Administrative Agent's prior written consent, grant any extension of the time of payment of any of the Accounts, Chattel Paper or Instruments, 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 any of the foregoing which are done in the ordinary course of business, consistent with past practices and trade discounts granted in the ordinary course of business of such Grantor.the

Appears in 1 contract

Samples: Credit and Security Agreement (Amr Corp)

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Limitations on Modifications of Accounts. Such Grantor will shall not, without the Administrative Agent's prior written consent, grant any extension of the time of payment of any of the Accounts, Chattel Paper or Instruments, 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 any of the foregoing which are done in the ordinary course of business, consistent with past practices and trade discounts granted in the ordinary course of business of such Grantor.

Appears in 1 contract

Samples: Secured Super Priority Debtor in Possession Credit Agreement (Exide Corp)

Limitations on Modifications of Accounts. Such Grantor will shall not, without the Administrative Agent's Lender’s prior written consent, grant any extension of the time of payment of any of the Accounts, Chattel Paper or Instruments, 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 thereon, other than any of the foregoing which are done in the ordinary course of business, consistent with past practices and trade discounts granted in the ordinary course of business of such Grantor.

Appears in 1 contract

Samples: Credit Agreement (Directv Group Inc)

Limitations on Modifications of Accounts. Such The Grantor will shall not, without the Administrative Agent's Lender’s prior written consent, grant any extension of the time of payment of any of the Accounts, Chattel Paper or Instruments, 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 thereon, other than any of the foregoing which are done in the ordinary course of business, consistent with past practices and trade discounts granted in the ordinary course of business of such the Grantor.

Appears in 1 contract

Samples: Revolving Credit Agreement (Hughes Electronics Corp)

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