Common use of Returned Inventory Clause in Contracts

Returned Inventory. Such Grantor shall, at such time as any Financial Officer of such Grantor knows or should have known, promptly report to the Administrative Agent any return of Inventory involving an amount in excess of $20,000,000. Each such report shall indicate the reasons for the returns and the locations and condition of the returned Inventory. In the event any Account Debtor returns Inventory to such Grantor when an Event of Default exists, such Grantor, upon the request of the Administrative Agent, shall: (i) hold the returned Inventory in trust for the Administrative Agent; (ii) segregate all returned Inventory from all of its other property; (iii) dispose of the returned Inventory solely according to the Administrative Agent's written instructions; and (iv) not issue any credits or allowances with respect thereto without the Administrative Agent's prior written consent. All returned Inventory shall be subject to the Administrative Agent's Liens thereon.

Returned Inventory. Such Grantor shall, at such time as If an Account Debtor returns any Financial Officer of Inventory to such Grantor knows or should have known, promptly report to the Administrative Agent any return of Inventory involving an amount in excess of $20,000,000. Each 100,000 when no Event of Default exists, then such report Grantor shall indicate promptly determine the reasons reason for such return and shall issue a credit memorandum to the returns and Account Debtor in the locations and condition of the returned Inventoryappropriate amount. In the event any Account Debtor returns Inventory in excess of $100,000 to such Grantor when an Event of Default exists, such Grantor, upon the request of the Administrative Agent, shall: (i) hold the returned Inventory in trust for the Administrative Agent; (ii) segregate all returned Inventory from all of its other property; (iii) dispose of the returned Inventory solely according to the Administrative Agent's ’s written instructions; and (iv) not issue any credits or allowances with respect thereto without the Administrative Agent's ’s prior written consent. All returned Inventory shall be subject to the Administrative Agent's ’s Liens thereon.

Returned Inventory. Such Grantor shall, at such time as any Financial Officer of such Grantor knows or should have known, promptly report to the Administrative Agent any return of Inventory involving an amount in excess of $20,000,000. Each such report shall indicate the reasons for the returns and the locations and condition of the returned Inventory. In the event any Account Debtor returns Inventory to such the Grantor when an Event of Default exists, such the Grantor, upon the request of the Administrative AgentLender, shall: (i) hold the returned Inventory in trust for the Administrative AgentLender; (ii) segregate all returned Inventory from all of its other property; (iii) dispose of the returned Inventory solely according to the Administrative Agent's Lender’s written instructions; and (iv) not issue any credits or allowances with respect thereto without the Administrative Agent's Lender’s prior written consent. All returned Inventory shall be subject to the Administrative Agent's Lender’s Liens thereon. Whenever any Inventory is returned, the related Account shall be deemed ineligible to the extent of the amount owing by the Account Debtor with respect to such returned Inventory and such returned Inventory shall not be Eligible Inventory.

Returned Inventory. Such Grantor shall, at such time as any Financial Officer of such Grantor knows or should have known, promptly report to the Administrative Agent any return of Inventory involving an amount in excess of $20,000,000. Each such report shall indicate the reasons for the returns and the locations and condition of the returned Inventory. In the event any Account Debtor returns Inventory to such Grantor when an Event of Default exists, such Grantor, upon the request of the Administrative Agent, shall: (i) hold the returned Inventory in trust for the Administrative Agent; (ii) segregate all returned Inventory from all of its other property; (iii) dispose of the returned Inventory solely according to the Administrative Agent's ’s written instructions; and (iv) not issue any credits or allowances with respect thereto without the Administrative Agent's ’s prior written consent. All returned Inventory shall be subject to the Administrative Agent's ’s Liens thereon. Whenever any Inventory is returned, the related Account shall be deemed ineligible to the extent of the amount owing by the Account Debtor with respect to such returned Inventory and such returned Inventory shall not be Eligible Inventory.

Returned Inventory. Such Grantor shall, at such time as If an Account Debtor returns any Financial Officer of Inventory to such Grantor knows or should have knownwhen no Event of Default exists, then such Grantor shall promptly report determine the reason for such return and shall issue a credit memorandum to the Administrative Agent any return of Inventory involving an amount Account Debtor in excess of $20,000,000. Each such report shall indicate the reasons for the returns and the locations and condition of the returned Inventoryappropriate amount. In the event any Account Debtor returns Inventory (other than perishable Inventory) to such Grantor when an Event of Default exists, such Grantor, upon the request of the Administrative Agent, shall: (i) hold the returned Inventory in trust for the Administrative Agent; (ii) segregate all returned Inventory from all of its other property; (iii) dispose of the returned Inventory solely according to the Administrative Agent's ’s written instructions; and (iv) not issue any credits or allowances with respect thereto without the Administrative Agent's ’s prior written consent. All returned Inventory shall be subject to the Administrative Agent's ’s Liens thereon.

Returned Inventory. Such Grantor shall, at such time as any Financial Officer of such Grantor knows or should have known, promptly report to the Administrative Agent any return of Inventory involving an amount in excess of $20,000,000. Each such report shall indicate the reasons for the returns and the locations and condition of the returned Inventory. In the event any Account Debtor returns Inventory to such the Grantor when an Event of Default exists, such the Grantor, upon the request of the Administrative Agent, shall: (i) hold the returned Inventory in trust for the Administrative Agent; (ii) segregate all returned Inventory from all of its other property; (iii) dispose of the returned Inventory solely according to the Administrative Agent's ’s written instructions; and (iv) not issue any credits or allowances with respect thereto without the Administrative Agent's ’s prior written consent. All returned Inventory shall be subject to the Administrative Agent's ’s Liens thereon. Whenever any Inventory is returned, the related Account shall be deemed ineligible to the extent of the amount owing by the Account Debtor with respect to such returned Inventory.

Returned Inventory. Such Grantor shall, at such time as If an Account Debtor returns any Financial Officer of Inventory to such Grantor knows or should have knownwhen no Event of Default exists, then such Grantor shall promptly report determine the reason for such return and shall issue a credit memorandum to the Administrative Agent any return of Inventory involving an amount Account Debtor in excess of $20,000,000. Each such report shall indicate the reasons for the returns and the locations and condition of the returned Inventoryappropriate amount. In the event any Account Debtor returns Inventory to such Grantor when an Event of Default exists, such Grantor, upon the request of the Administrative Agent, shall: (i) hold the returned Inventory in trust for the Administrative Agent; (ii) segregate all returned Inventory from all of its other property; (iii) dispose of the returned Inventory solely according to the Administrative Agent's ’s written instructions; and (iv) not issue any credits or allowances with respect thereto without the Administrative Agent's ’s prior written consent. All returned Inventory shall be subject to the Administrative Agent's ’s Liens thereon.

Returned Inventory. Such Grantor shall, at such time as any Financial Officer of such Grantor knows or should have known, promptly report to the Administrative Agent any return of Inventory involving an amount in excess of $20,000,000. Each such report shall indicate the reasons for the returns and the locations and condition of the returned Inventory. In the event any Account Debtor returns Inventory to such Grantor when an Event of Default exists, such Grantor, upon the request of the Administrative Agent, shall: (i) hold the returned Inventory in trust for the Administrative Agent; (ii) segregate all returned Inventory from all of its other property; (iii) dispose of the returned Inventory solely according to the Administrative Agent's ’s written instructions; and (iv) not issue any credits or allowances with respect thereto without the Administrative Agent's ’s prior written consent. All returned Inventory shall be subject to the Administrative Agent's ’s Liens thereon. Whenever any Inventory is returned, the related Account shall be deemed ineligible to the extent of the amount owing by the Account Debtor with respect to such returned Inventory and such returned Inventory shall not be Eligible Inventory (unless the same is undamaged and able to be resold in the ordinary course of business).