Notice Regarding Disputed Accounts. Borrowers shall give Agent prompt notice of any dispute in excess of $300,000 in respect of any Account. Each such notice shall identify any such disputed Account and disclose with respect thereto, in reasonable detail, the reason for the dispute, all claims related thereto and the amount in controversy. Agent shall promptly notify each Lender of receipt of such a notice.
Appears in 3 contracts
Samples: Loan and Security Agreement (Cmgi Inc), Loan and Security Agreement (Cmgi Inc), Loan and Security Agreement (Cmgi Inc)
Notice Regarding Disputed Accounts. Borrowers shall give Agent prompt notice of any dispute in excess of $300,000 5,000,000 in respect of any Account. Each such notice shall identify any such disputed Account and disclose with respect thereto, in reasonable detail, the reason for the dispute, all claims related thereto and the amount in controversy. Agent shall promptly notify each Lender of receipt of such a notice.
Appears in 2 contracts
Samples: Loan and Security Agreement (ModusLink Global Solutions Inc), Loan and Security Agreement (Cmgi Inc)
Notice Regarding Disputed Accounts. Borrowers shall give Agent prompt notice of any dispute in excess of $300,000 100,000 in respect of any Account. Each such notice shall identify any such disputed Account and disclose with respect thereto, in reasonable detail, the reason for the dispute, all claims related thereto and the amount in controversy. Agent shall promptly notify each Lender of receipt of such a notice.
Appears in 1 contract
