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 Borrower in excess of Ten Thousand and 00/100 ($10,000.00) Dollars, Borrower shall promptly determine the reason for such return and, if Borrower accepts such return, issue a credit memorandum (with a copy to be sent to Lender if Lender has so requested) in the appropriate amount to such Account Debtor. After the occurrence of an Event of Default, Borrower shall hold all returned Inventory in trust for Lender, shall segregate all returned Inventory from all other property of Borrower or in Borrower’s possession and shall conspicuously label said returned Inventory as the property of Lender. Borrower shall, at all times subsequent to the occurrence of an Event of Default, immediately notify Lender of the return of any Inventory, 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 a Default, any Account Debtor returns any of the Inventory to Borrower in excess of Ten Thousand and 00/100 ($10,000.00) Dollarsa Borrower, such Borrower shall promptly determine the reason for such return and, if Borrower accepts such return, issue a credit memorandum (with a copy to be immediately sent to Lender if Lender has so requestedLender) in the appropriate amount to such Account Debtor; provided, however, that no Borrower shall, without the prior consent of Lender, accept on any single day, returned Inventory the sale price of which was in excess of Twenty-Five Thousand Dollars ($25,000) in the aggregate. After the occurrence of an Event of a Default, Borrower the Borrowers shall hold all returned Inventory in trust for Lender, shall segregate all returned Inventory from all other property of the Borrower or in Borrower’s the Borrowers' possession and shall conspicuously label said such returned Inventory as the property of Lender. Borrower The Borrowers shall, at in all times subsequent to the occurrence of an Event of Defaultcases, immediately notify Lender of the return of any Inventory, 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 a Default, any Account Debtor returns any of the Inventory to Borrower in excess of Ten Thousand and 00/100 ($10,000.00) DollarsBorrower, Borrower shall promptly determine the reason for such return and, if Borrower accepts such return, issue a credit memorandum (with a copy to be immediately sent to Lender if Lender has so requestedLender) in the appropriate amount to such Account Debtor; provided, however, that Borrower shall not, without the prior consent of Lender, accept on any single day, returned Inventory the sale price of which was in excess of $50,000 in the aggregate. After the occurrence and during the continuation of an Event of a Default, Borrower shall hold all returned Inventory in trust for Lender, shall segregate all returned Inventory from all other property of Borrower or in Borrower’s 's possession and shall conspicuously label said such returned Inventory as the property of Lender. Borrower shall, at in all times subsequent to the occurrence of an Event of Defaultcases, immediately notify Lender of the return of any Inventory, specifying the reason for such return and the location and condition of the returned Inventory.