Returns; Allowances and Credits. Borrower shall not accept any returns or grant any allowances or credits to Account Debtors without notifying Lender at the time any credit is issued. Such notification may be made by way of the submission by Borrower of its usual reports to Lender in the event of returns, allowances, or credits provided they are (a.) in the ordinary course of Borrower’s business; and (b.) not in material amounts.
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Samples: Loan and Security Agreement (Visualant Inc), Loan and Security Agreement (Great American Group, Inc.)
Returns; Allowances and Credits. Borrower shall not accept any returns or grant any allowances or credits to Account Debtors without notifying Lender at the time any credit is issued. Such notification may be made by way of the submission by Borrower of its usual reports to Lender in the event of returns, allowances, or credits provided they are (a.a) in the ordinary course of Borrower’s 's business; and (b.b) not in material amounts.
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Samples: Loan and Security Agreement (Vertical Branding, Inc.)
Returns; Allowances and Credits. Borrower shall not accept any returns or grant any allowances or credits to Account Debtors without notifying Lender Lenders at the time any credit is issued. Such notification may be made by way of the submission by Borrower of its usual reports to Lender Lenders in the event of returns, allowances, or credits provided they are (a.) in the ordinary course of Borrower’s business; and (b.) not in material amounts. Lenders in its discretion shall have the right to impose a reserve against the A/R Borrowing Base for actual or anticipated returns, allowance, and credits.
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Returns; Allowances and Credits. Borrower shall not accept any returns or grant any allowances or credits to Account Debtors without notifying Lender at the time any credit is issued. Such notification may be made by way of the submission by Borrower of its usual reports to Lender in the event of returns, allowances, or credits provided they are (a.) in the ordinary course of Borrower’s business; and (b.) not in material amounts. Lender in its discretion shall have the right to impose a reserve against the A/R Borrowing Base for actual or anticipated returns, allowance, and credits.
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