Common use of Modification of Receivables Clause in Contracts

Modification of Receivables. Other than in the ordinary course of business consistent with its past practice, such Grantor will not (i) grant any extension of the time of payment of any Receivable, (ii) compromise or settle any Receivable for less than the full amount thereof, (iii) release, wholly or partially, any Person liable for the payment of any Receivable, (iv) allow any credit or discount whatsoever on any Receivable or (v) amend, supplement or modify any Receivable in any manner that could adversely affect the value thereof.

Appears in 4 contracts

Samples: Security Agreement (Airship AI Holdings, Inc.), Security Agreement (Volcon, Inc.), Security Agreement (Live Current Media Inc.)

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Modification of Receivables. Other than in the ordinary course of business consistent with its past practicepractice or as permitted under the Loan Agreement, such Grantor will not (ia) grant any extension of the time of payment of any Receivable, (iib) compromise or settle any Receivable for less than the full amount thereof, (iiic) release, wholly or partially, any Person liable for the payment of any Receivable, (ivd) allow any credit or discount whatsoever on any Receivable or (ve) amend, supplement or modify any Receivable in any manner that could adversely affect the value thereof.

Appears in 1 contract

Samples: Security Agreement (Medicine Man Technologies, Inc.)

Modification of Receivables. Other than in the ordinary course Ordinary Course of business Business consistent with its past prudent business practice, such Grantor will not (i) grant any extension of the time of payment of any Receivable, (ii) compromise or settle any Receivable for less than the full amount thereof, (iii) release, wholly or partially, any Person liable for the payment of any Receivable, (iv) allow any credit or discount whatsoever on any Receivable or (v) amend, supplement or modify any Receivable in any manner that could adversely affect the value thereof.

Appears in 1 contract

Samples: Security Agreement (New Enterprise Stone & Lime Co., Inc.)

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Modification of Receivables. Other than in the ordinary course of business consistent with its past practicepractice or as permitted under the Indenture, such Grantor will not (ia) grant any extension of the time of payment of any Receivable, (iib) compromise or settle any Receivable for less than the full amount thereof, (iiic) release, wholly or partially, any Person liable for the payment of any Receivable, (ivd) allow any credit or discount whatsoever on any Receivable or (ve) amend, supplement or modify any Receivable in any manner that could adversely affect the value thereof.

Appears in 1 contract

Samples: Security Agreement (Medicine Man Technologies, Inc.)

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