Common use of Notice of Diminution of Value Clause in Contracts

Notice of Diminution of Value. The Borrowers shall give prompt notice to the Lender of any matter or event which has resulted in, or may result in, the actual or potential diminution in excess of $400,000 in the value of any of its Collateral, except for any diminution in the value of any Receivables or Inventory in the ordinary course of business which has been appropriately reserved against, as reflected in the financial statements previously delivered to the Lender pursuant to Article 9.

Appears in 1 contract

Samples: Loan and Security Agreement (Intellicall Inc)

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Notice of Diminution of Value. The Borrowers Borrower shall give prompt notice to the Lender Agent of any matter or event which has resulted in, or may could reasonably be expected to result in, the actual or potential diminution in excess of $400,000 500,000 in the value of any of its Collateral, except for any such diminution in the value of any Receivables or Inventory in the ordinary course of business which has been appropriately reserved against, as reflected in the financial statements previously delivered to the Lender Agent and the Lenders pursuant to Article ARTICLE 9.

Appears in 1 contract

Samples: Loan and Security Agreement (Nabi /De/)

Notice of Diminution of Value. The Borrowers Borrower shall give prompt notice to the Lender Agent of any matter or event which has resulted in, or may result in, the actual or potential diminution in excess of $400,000 50,000 in the value of any of its Collateral, except for any diminution in the value of any Receivables or Inventory in the ordinary course of business which has been appropriately reserved against, as reflected in the financial statements previously delivered to the Lender Lenders pursuant to Article 9ARTICLE 10.

Appears in 1 contract

Samples: Loan and Security Agreement (Supreme International Corp)

Notice of Diminution of Value. The Borrowers shall give prompt notice to the Lender Agent of any matter or event which has resulted in, or may result in, the actual or potential diminution in excess of $400,000 150,000 in the value of any of its their Collateral, except for any diminution in the value of any Receivables or Inventory in the ordinary course of business which has been appropriately reserved against, as reflected in the financial statements previously delivered to the Lender Lenders pursuant to Article 9ARTICLE 11.

Appears in 1 contract

Samples: Loan and Security Agreement (Supreme International Corp)

Notice of Diminution of Value. The Borrowers shall give prompt notice to the Lender of any matter or event which has resulted in, or may result in, the actual or potential diminution in excess of $400,000 in the value of any of its Collateral, except for any diminution in the value of any Receivables or Inventory in the ordinary course of business which has been appropriately reserved against, as reflected in the financial statements previously delivered to the Lender pursuant to Article ARTICLE 9.

Appears in 1 contract

Samples: Loan and Security Agreement (Ild Telecommunications Inc)

Notice of Diminution of Value. The Borrowers Borrower and each Guarantor shall give prompt notice to the Lender of any matter or event which has resulted in, or may result in, the actual or potential diminution in excess of $400,000 100,000 in the value of any of its the Collateral, except for any diminution in the value of any Receivables or Inventory in the ordinary course of business which has been appropriately reserved against, as reflected in the financial statements previously delivered to the Lender pursuant to Article 9.

Appears in 1 contract

Samples: Loan and Security Agreement (Acr Group Inc)

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Notice of Diminution of Value. The Borrowers Borrower shall give prompt notice to the Lender of any matter or event which has resulted in, or may result in, the actual or potential diminution in excess of $400,000 50,000 in the value of any of its Collateral, except for any diminution in the value of any Receivables or Inventory in the ordinary course of business which has been appropriately reserved against, as reflected in the financial statements previously delivered to the Lender pursuant to Article ARTICLE 9.

Appears in 1 contract

Samples: Loan and Security Agreement (Airport Systems International Inc)

Notice of Diminution of Value. The Borrowers shall give prompt notice to the Lender of any matter or event which has resulted in, or may result in, the actual or potential diminution in excess of $400,000 50,000 in the value of any of its the Collateral, except for any diminution in the value of any Receivables or Inventory in the ordinary course of business which has been appropriately reserved against, as reflected in the financial statements previously delivered to the Lender pursuant to Article 9.

Appears in 1 contract

Samples: Loan and Security Agreement (Denali Inc)

Notice of Diminution of Value. The Borrowers Borrower and each Guarantor shall ----------------------------- give prompt notice to the Lender of any matter or event which has resulted in, or may result in, the actual or potential diminution in excess of $400,000 200,000 in the value of any of its the Collateral, except for any diminution in the value of any Receivables or Inventory in the ordinary course of business which has been appropriately reserved against, as reflected in the financial statements previously delivered to the Lender pursuant to Article 9.

Appears in 1 contract

Samples: Loan and Security Agreement (Acr Group Inc)

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