Common use of Receivables and Payables Clause in Contracts

Receivables and Payables. Neither either Borrower nor Guarantor will, and will not permit any Subsidiary to, discount or sell with recourse, or sell for less than the market value thereof, any of its notes receivable or accounts receivable.

Appears in 2 contracts

Samples: Credit Agreement (Parallel Petroleum Corp), Credit Agreement (Parallel Petroleum Corp)

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Receivables and Payables. Neither either Borrower None of the Borrowers nor Guarantor will, and will not permit any Subsidiary to, Guarantor will discount or sell with recourse, or sell for less than the greater of the face or market value thereof, any of its notes receivable or accounts receivable.

Appears in 1 contract

Samples: Credit Agreement (Exco Resources Inc)

Receivables and Payables. Neither either Borrower nor either Guarantor will, and will not permit any Subsidiary to, discount or sell with recourse, or sell for less than the market value thereof, any of its notes receivable or accounts receivable.

Appears in 1 contract

Samples: Credit Agreement (Parallel Petroleum Corp /De/)

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Receivables and Payables. Neither either Borrower nor Guarantor willwill not, and will not permit any Subsidiary to, discount or sell with recourse, or sell for less than the market value thereof, any of its notes receivable or accounts receivable.

Appears in 1 contract

Samples: Credit Agreement (Parallel Petroleum Corp)

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