Common use of Returned and Repossessed Inventory Clause in Contracts

Returned and Repossessed Inventory. If at any time prior to the occurrence of an Event of Default, any Account Debtor returns any Inventory to Debtor with a value in excess of $10,000.00, Debtor shall promptly determine the reason for such return and, if Debtor accepts such return, issue a credit memorandum (with a copy to be sent to Secured Party if Secured Party has so requested) in the appropriate amount to such Account Debtor. After the occurrence of an Event of Default, Debtor shall hold all returned Inventory in trust for Secured Party, shall segregate all returned Inventory from all other property of Debtor or in its possession and shall conspicuously label said returned Inventory as the property of Secured Party. Debtor shall, in all cases, immediately notify Secured Party of the return of any Inventory with a value in excess of $10,000.00 specifying the reason for such return and the location and condition of the returned Inventory.

Returned and Repossessed Inventory. If at any time prior to the occurrence of an Event of Default, any Account Debtor returns any Inventory to any Debtor with a value in excess of $10,000.0050,000, such Debtor shall promptly determine the reason for such return and, if such Debtor accepts such return, issue a credit memorandum (with a copy to be sent to the Secured Party if the Secured Party has so requested) in the appropriate amount to such Account Debtor. After the occurrence of and during the continuance of an Event of Default, each Debtor shall hold all returned Inventory in trust for Secured Party, shall segregate all returned Inventory from all other property of such Debtor or in its possession and shall conspicuously label said returned Inventory as the property of Secured Party. Each Debtor shall, in all cases, immediately notify Secured Party of the return of any Inventory with a value in excess of $10,000.00 50,000, specifying the reason for such return and the location and condition of the returned Inventory.

Returned and Repossessed Inventory. If at any time prior to the occurrence of an Event of Default, any Account Debtor returns any Inventory to Debtor with a value in excess of $10,000.0025,000.00, Debtor shall promptly determine the reason for such return and, if Debtor accepts such return, issue a credit memorandum (with a copy to be sent to Secured Party if Secured Party has so requested) in the appropriate amount to such Account Debtor. After the occurrence of an Event of Default, Debtor shall hold all returned Inventory in trust for Secured Party, shall segregate all returned Inventory from all other property of Debtor or in its possession and shall conspicuously label said returned Inventory as the property of Secured Party. Debtor shall, in all cases, immediately notify Secured Party of the return of any Inventory with a value in excess of $10,000.00 25,000.00 specifying the reason for such return and the location and condition of the returned Inventory.

Returned and Repossessed Inventory. If at any time prior to the occurrence of an Event of Default, any Account Debtor returns any Inventory to any Debtor with a value in excess of $10,000.00250,000.00, such Debtor shall promptly determine the reason for such return and, if such Debtor accepts such return, issue a credit memorandum (with a copy to be sent to the Secured Party if the Secured Party has so requested) in the appropriate amount to such Account Debtor. After the occurrence of an Event of Default, each Debtor shall hold all returned Inventory in trust for Secured Party, shall segregate all returned Inventory from all other property of such Debtor or in its possession and shall conspicuously label said returned Inventory as the property of Secured Party. Each Debtor shall, in all cases, immediately notify Secured Party of the return of any Inventory with a value in excess of $10,000.00 250,000.00, specifying the reason for such return and the location and condition of the returned Inventory.

Returned and Repossessed Inventory. If at any time prior to the occurrence of an Event of Default, any Account Debtor returns any Inventory to any Debtor with a value in excess of $10,000.00200,000, such Debtor shall promptly determine the reason for such return and, if such Debtor accepts such return, issue a credit memorandum (with a copy to be sent to the Secured Party if the Secured Party has so requested) in the appropriate amount to such Account Debtor. After the occurrence of and during the continuance of an Event of Default, each Debtor shall hold all returned Inventory in trust for Secured Party, shall segregate all returned Inventory from all other property of such Debtor or in its possession and shall conspicuously label said returned Inventory as the property of Secured Party. Each Debtor shall, in all cases, immediately notify Secured Party of the return of any Inventory with a value in excess of $10,000.00 200,000, specifying the reason for such return and the location and condition of the returned Inventory.