Returned Inventory. Each Borrower shall execute and deliver to Lender, on forms supplied by Lender and no less frequently than once a month, a report of returns of any Inventory and as requested by Lender, provide to Lender copies of any credit memorandums to the Account Debtor issued in respect thereof. In all cases, Lender shall be promptly notified of returns of Inventory, the reason for such return and the location of such returned Inventory and, unless otherwise agreed by Lender, no such returned Inventory shall be Eligible Inventory for purposes of this Agreement.
Appears in 3 contracts
Samples: Credit Facility and Security Agreement (Goodman Conveyor Co), Credit Facility and Security Agreement (Continental Conveyor & Equipment Co), Credit Facility and Security Agreement (Goodman Conveyor Co)
Returned Inventory. Each Borrower shall execute and deliver to Lender, on forms supplied by Lender and no less frequently than once a monthweek, a report of all returns of any Inventory and as requested by Lender, provide to Lender copies of any credit memorandums to the Account Debtor issued in respect thereof. In all cases, Lender shall be promptly notified of all returns of Inventory, the reason for such return and the location of such returned Inventory and, unless otherwise agreed by Lender, no such returned Inventory shall be Eligible Inventory for purposes of this AgreementInventory.
Appears in 1 contract
Samples: Facility and Security Agreement (International Total Services Inc)
