Returned Merchandise. Debtor shall notify Secured Party immediately of the return, rejection, repossession, stoppage in transit, loss, damage, or destruction of any Inventory. In addition to making appropriate adjustments to the Receivables Borrowing Base and the Inventory Borrowing Base to reflect the return of such Inventory, Secured Party may, in its sole discretion, request Debtor to pay Secured Party an amount equal to the consideration to have been paid for such Inventory by the Account Debtor, such payment to be applied directly to unpaid Advances.
Appears in 3 contracts
Samples: Loan and Security Agreement (Delsoft Consulting Inc), Loan and Security Agreement (American Artists Film Corp/Mo/), Loan and Security Agreement (Computone Corporation)
Returned Merchandise. Debtor shall notify Secured Party immediately of the return, rejection, repossession, stoppage in transit, loss, damage, or destruction of any material portion of the Inventory. In addition to making Secured Party shall make appropriate adjustments to the Receivables Borrowing Base and the Inventory Borrowing Base to reflect the return of such Inventory, Secured Party may, in its sole discretion, request Debtor to pay Secured Party an amount equal to the consideration to have been paid for such Inventory by the Account Debtor, such payment to be applied directly to unpaid Advances.
Appears in 3 contracts
Samples: Loan and Security Agreement (FFP Marketing Co Inc), Loan and Security Agreement (FFP Partners L P), Loan and Security Agreement (FFP Partners L P)
