Returns of Inventory. No Obligor shall return any Inventory to a supplier, vendor or other Person, whether for cash, credit or otherwise, unless (a) such return is in the Ordinary Course of Business; (b) no Default, Event of Default or Overadvance exists or would result therefrom; (c) Collateral Agent is promptly notified if the aggregate Value of all Inventory returned in any Fiscal Month exceeds $2,625,000; and (d) any payment received by an Obligor for a return is promptly remitted to Collateral Agent for application to the Obligations.
Appears in 6 contracts
Samples: Term Loan Agreement (Apparel Holding Corp.), Term Loan Agreement (Apparel Holding Corp.), Term Loan Agreement (Apparel Holding Corp.)
Returns of Inventory. No Obligor shall return any Inventory to a supplier, vendor or other Person, whether for cash, credit or otherwise, unless (a) such return is in the Ordinary Course of Business; (b) no Default, Event of Default or Overadvance exists or would result therefrom; (c) Collateral Agent is promptly notified if the aggregate Value of all Inventory returned in any Fiscal Month month exceeds $2,625,0005,000,000; and (d) any payment received by an Obligor for a return during any Dominion Trigger Period is promptly remitted to Collateral Agent for application to the Obligations.
Appears in 5 contracts
Samples: Loan and Security Agreement (Callaway Golf Co), Loan and Security Agreement (Callaway Golf Co), Loan and Security Agreement (Callaway Golf Co)
Returns of Inventory. No Obligor shall return any Inventory to a supplier, vendor or other Person, whether for cash, credit or otherwise, unless (a) such return is in the Ordinary Course of Business; (b) no Default, Event of Default Default, Revolver Overadvance or FILO Overadvance exists or would result therefrom; (c) Collateral Agent is promptly notified if the aggregate Value of all Inventory returned in any Fiscal Month month exceeds $2,625,000375,000; and (d) any payment received by an Obligor for a return is promptly remitted to Collateral Agent for application to the Obligations.
Appears in 3 contracts
Samples: Loan and Security Agreement (Summer Infant, Inc.), Loan and Security Agreement (Summer Infant, Inc.), Loan and Security Agreement (Summer Infant, Inc.)
Returns of Inventory. No Obligor shall return any Inventory to a supplier, vendor or other Person, whether for cash, credit or otherwise, unless (a) such return is in the Ordinary Course of Business; (b) no Default, Event of Default or Overadvance exists or would result therefrom; (c) Collateral Agent is promptly notified if the aggregate Value of all Inventory returned in any Fiscal Month month exceeds $2,625,0002,000,000; and (d) during a Cash Dominion Event, any payment received by an Obligor for a return is promptly remitted to Collateral Agent for application to the Obligations.
Appears in 3 contracts
Samples: Loan, Security and Guaranty Agreement (Hyster-Yale Materials Handling, Inc.), Loan Agreement (Hyster-Yale Materials Handling, Inc.), Loan Agreement (Hyster-Yale Materials Handling, Inc.)
Returns of Inventory. No Obligor shall return any Inventory to a supplier, vendor or other Person, whether for cash, credit or otherwise, unless (a) such return is in the Ordinary Course of Business; (b) no Default, Event of Default or Revolver Overadvance exists or would result therefrom; (c) Collateral Agent is promptly notified if the aggregate Value of all Inventory returned in any Fiscal Month month exceeds $2,625,000375,000; and (d) any payment received by an Obligor for a return is promptly remitted to Collateral Agent for application to the Obligations.
Appears in 2 contracts
Samples: Term Loan and Security Agreement (Summer Infant, Inc.), Loan and Security Agreement (Summer Infant, Inc.)
Returns of Inventory. No Obligor shall return any Inventory to a supplier, vendor or other PersonPerson that has a Value in excess of $1,000,000, whether for cash, credit or otherwise, unless (a) such return is in the Ordinary Course of Business; (b) no Default, Event of Default or Overadvance exists or would result therefrom; (c) Collateral Administrative Agent is promptly notified if the aggregate Value of all Inventory so returned in any Fiscal Month month exceeds $2,625,0002,000,000; and (d) any cash payment received by an a Obligor for a return is promptly remitted to Collateral Administrative Agent for application to the Obligations.
Appears in 1 contract
Samples: Loan and Security Agreement (Spectrum Brands, Inc.)
Returns of Inventory. No Obligor shall return any Inventory to a supplier, vendor or other Person, whether for cash, credit or otherwise, unless (a) such return is in the Ordinary Course of Business; (b) no Default, Event of Default or Overadvance exists or would result therefrom; (c) Collateral Agent is promptly notified if the aggregate Value of all Inventory returned in any Fiscal Month month exceeds $2,625,0002,000,000; and (div) during a Cash Dominion Event, any payment received by an Obligor for a return is promptly remitted to Collateral Agent for application to the Obligations.
Appears in 1 contract
Samples: Loan, Security and Guaranty Agreement (Hyster-Yale Materials Handling, Inc.)
Returns of Inventory. No Obligor Grantor shall return any Inventory to a supplier, vendor or other Person, whether for cash, credit or otherwise, unless (ai) such return is in the Ordinary Course of Business; (bii) no Default, Default or Event of Default or Overadvance exists or would result therefrom; (c) Collateral Agent is promptly notified if the aggregate Value of all Inventory returned in any Fiscal Month month exceeds $2,625,000500,000; and (d) after the Senior Priority Discharge Date, or as otherwise provided in the Intercreditor Agreement, any payment received by an Obligor a Grantor for a return is promptly remitted to Collateral Agent for application to the Noteholder Obligations.
Appears in 1 contract
Samples: General Security Agreement (United Maritime Group, LLC)
Returns of Inventory. No Obligor shall return any Inventory to a supplier, vendor or other Person, whether for cash, credit or otherwise, unless (a) such return is in the Ordinary Course of Business; (b) no Default, Default or Event of Default or Overadvance exists or would result therefrom; (c) Collateral the Administrative Agent is promptly notified if the aggregate Value value of all Inventory returned in any Fiscal Month month exceeds $2,625,0005,000,000; and (d) any payment received by an Obligor a Borrower for a return is promptly remitted to Collateral the Administrative Agent for application to the Obligations.
Appears in 1 contract
Returns of Inventory. No Obligor shall return any Inventory to a supplier, vendor or other Person, whether for cash, credit or otherwise, unless (a) such return is in the Ordinary Course of Business; (b) no Default, Default or Event of Default or Overadvance exists or would result therefrom; (c) Collateral the Administrative Agent is promptly notified if the aggregate Value value of all Inventory returned in any Fiscal Month month exceeds $2,625,0005,000,000; and (d) during any Sweep Trigger Period, any payment received by an Obligor a Borrower for a return is promptly remitted to Collateral Administrative Agent for application to the Obligations.
Appears in 1 contract
Returns of Inventory. No Obligor shall return any Inventory to a supplier, vendor or other Person, whether for cash, credit or otherwise, unless (a) such return is in the Ordinary Course of Business; (b) no Default, Event of Default or Overadvance exists or would result therefrom; (c) Collateral Agent is promptly notified if the aggregate Value of all Inventory returned in any Fiscal Month exceeds $2,625,00010,000,000; and (d) any payment received by an Obligor for a return is promptly remitted to Collateral Agent for application to the Obligations.
Appears in 1 contract
