Common use of Returned or Rejected Goods Clause in Contracts

Returned or Rejected Goods. Upon receipt of any returned or rejected goods the Borrower shall immediately issue and deliver a credit memo to the Bank with respect thereto. Or, at the Bank's election, the Borrower shall set aside such goods, mark xxxm in the Bank's name and hold them in trust for the Bank at the Borrower's expense, and, upon request, shall pay the Bank the sales price thereof. If the Bank shall request the Borrower to pay the sales price of such goods and the Borrower fails to forthwith pay the sales price to the Bank, the Bank may take possession of such goods and sell or cause the goods to be sold, at public or private sale, at such prices, to such purchasers and upon such terms as 105 17 the Bank deems advisable. The Borrower shall remain liable to the Bank for any deficiency and shall pay the costs and expenses of such sale, including reasonable attorneys' fees.

Returned or Rejected Goods. Upon receipt of any returned or rejected goods the Borrower Borrowers shall immediately issue and deliver a credit memo to the Bank with respect thereto. Or, or, at the Bank's election, the Borrower Borrowers shall set aside such goods, mark xxxm them in the Bank's name and hold them in trust for the Bank at the Borrower's Xxxrowers' expense, and, upon request, shall pay the Bank the sales price thereof. If the Bank shall request the Borrower Borrowers to pay the sales price of such goods and the Borrower fails Borrowers fail to forthwith pay the sales price to the Bank, the Bank may take possession of such goods and sell or cause the goods to be sold, at public or private sale, at such prices, to such purchasers and upon such terms as 105 17 the Bank deems advisable. The Borrower Borrowers shall remain liable to the Bank for any deficiency and shall pay the costs and expenses of such sale, including reasonable attorneys' fees.

Returned or Rejected Goods. Upon After the occurrence and during the continuance of an Event of Default or upon receipt of any returned or rejected non-retail goods in an amount in excess of Five Hundred Thousand Dollars ($500,000.00) the Borrower shall immediately issue and deliver a copy of a credit memo to the Bank with respect thereto. Or, at the Bank's election, the Borrower shall set aside such goods, mark xxxm in the Bank's name and hold them in trust for the Bank at the Borrower's expense, and, upon request, shall pay the Bank the sales price thereof. If the Bank shall request the Borrower to pay the sales price of such goods and the Borrower fails to forthwith pay the sales price to the Bank, the Bank may take possession of such goods and sell or cause the goods to be sold, at public or private sale, at such prices, to such purchasers and upon such terms as 105 17 the Bank deems advisable. The Borrower shall remain liable to the Bank for any deficiency and shall pay the costs and expenses of such sale, including reasonable attorneys' fees.

Returned or Rejected Goods. Upon After the occurrence and during the continuance of an Event of Default or upon receipt of any returned or rejected goods in an amount in excess of One Hundred Thousand Dollars ($100,000.00) the Borrower shall immediately issue and deliver a copy of a credit memo to the Bank with respect thereto. Or, at the Bank's election, the Borrower shall set aside such goods, mark xxxm in the Bank's name and hold them in trust for the Bank at the Borrower's expense, and, upon request, shall pay the Bank the sales price thereof. If the Bank shall request the Borrower to pay the sales price of such goods and the Borrower fails to forthwith pay the sales price to the Bank, the Bank may take possession of such goods and sell or cause the goods to be sold, at public or private sale, at such prices, to such purchasers and upon such terms as 105 17 the Bank deems advisable. The Borrower shall remain liable to the Bank for any deficiency and shall pay the costs and expenses of such sale, including reasonable attorneys' fees.

Returned or Rejected Goods. Upon the occurrence and continuance -------------------------- of an Event of Default beyond any applicable cure periods, upon receipt of any returned or rejected goods the Borrower shall immediately issue and deliver a credit memo to the Bank with respect thereto. Or, at the Bank's election, the Borrower shall set aside such goods, mark xxxm xxxx them in the Bank's name and hold them in trust for the Bank at the Borrower's expense, and, upon request, shall pay the Bank the sales price thereof. thereof If the Bank shall request the Borrower to pay the sales price of such goods and the Borrower fails to forthwith pay the sales price to the Bank, the Bank may take possession of such goods and sell or cause the goods to be sold, at public or private sale, at such prices, to such purchasers and upon such terms as 105 17 the Bank deems advisable. The Borrower shall remain liable to the Bank for any deficiency and shall pay the costs and expenses of such sale, including reasonable attorneys' fees.