Notice Regarding Disputed Accounts. In the event any amounts due and owing in excess of $10,000 are in dispute between any Account Debtor and the Grantor (which shall include without limitation any dispute in which an offset claim or counterclaim may result), the Grantor shall provide the Secured Parties with written notice thereof as soon as practicable, explaining in detail the reason for the dispute, all claims related thereto and the amount in controversy.
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Samples: Amended and Restated Security Agreement (Merlin Software Technologies International Inc), Subsidiary Security Agreement (Merlin Software Technologies International Inc), Security Agreement (Merlin Software Technologies International Inc)
Notice Regarding Disputed Accounts. In the event any amounts due and owing in excess of $10,000 250,000 are in dispute between any Account Debtor and the a Grantor (which shall include without limitation any dispute in which an offset claim or counterclaim may result), the such Grantor shall provide the Secured Parties Agent with written notice thereof as soon as practicable, explaining in detail the reason for the dispute, all claims related thereto and the amount in controversy.
Appears in 2 contracts
Samples: Security Agreement (Bec Group Inc), Bolle Credit Agreement (Bolle Inc)
Notice Regarding Disputed Accounts. In the event any amounts due and owing in excess of $10,000 in the aggregate amount, are in dispute between any Account Debtor and the a Grantor (which shall include without limitation any dispute in which an offset claim or counterclaim may result), the such Grantor shall provide the Secured Parties Agent with written notice thereof as soon as practicable, explaining in detail the reason for the dispute, all claims related thereto and the amount in controversy.
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