Returns of Inventory. No Borrower 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; and (b) no Event of Default or Overadvance exists or would result therefrom.
Appears in 2 contracts
Samples: Loan, Guaranty and Security Agreement (BIG 5 SPORTING GOODS Corp), Loan Agreement (BIG 5 SPORTING GOODS Corp)
Returns of Inventory. No Borrower 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; and (b) no Default, Event of Default or Overadvance exists or would result therefrom.;
Appears in 2 contracts
Samples: Loan and Security Agreement (Orion Energy Systems, Inc.), Loan and Security Agreement (Orion Energy Systems, Inc.)
Returns of Inventory. No Borrower shall return any of its Inventory to a suppliersupplier or vendor thereof, vendor or any other Person, whether for cash, credit against future purchases or then existing payables, or otherwise, unless (ai) such return is in the Ordinary Course ordinary course of Businessbusiness of such Borrower; and (bii) no Default or Event of Default or Overadvance exists at the time of such return or would result therefrom; and (iv) any payments received by a Borrower in connection with any such return are promptly turned over to Agent for application to the Obligations.
Appears in 2 contracts
Samples: Loan and Security Agreement (Freedom Group, Inc.), Loan and Security Agreement (Freedom Group, Inc.)
Returns of Inventory. No Borrower 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 ordinary course of Businessbusiness; and (b) no Event of Default or Overadvance exists or would result therefrom; (c) Lender is promptly notified of the aggregate Value of all Inventory returned in each month; and (d) any payment received by Borrowers for a return is promptly remitted to Lender for application to the Obligations.
Appears in 2 contracts
Samples: Loan and Security Agreement (Xplore Technologies Corp), Loan and Security Agreement (Wireless Telecom Group Inc)
Returns of Inventory. No Borrower 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; and (b) no Default, Event of Default or Overadvance applicable to such Borrower or its Borrower Group exists or would result therefrom; and (c) any payment received by a Borrower for a return is promptly remitted to the Applicable Agent for application to the Obligations to the extent required under Section 8.2.4.
Appears in 1 contract
Samples: Loan Agreement (Superior Essex Inc)
Returns of Inventory. No Borrower 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; and (b) no Default, Event of Default or Overadvance exists or would result therefrom; and (c) any payment received by a Borrower for a return is promptly remitted to Agent for application to the Obligations.
Appears in 1 contract
Samples: Loan and Security Agreement (Adara Acquisition Corp.)
Returns of Inventory. No Borrower shall return any of its Inventory to a suppliersupplier or vendor thereof, vendor or any other Person, whether for cash, credit against future purchases or then existing payables, or otherwise, unless (ai) such return is in the Ordinary Course of BusinessBusiness of such Borrower and such Person; and (bii) no Default or Event of Default or Overadvance exists or would result therefrom.;
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Returns of Inventory. No Borrower 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; and (b) no Default, Event of Default or Overadvance exists or would result therefrom; and (c) any payment received by a Borrower for a return is promptly remitted to Agent for application to the Obligations to the extent required under Section 8.2.4.
Appears in 1 contract
Returns of Inventory. No Borrower shall not return any of its Inventory to a suppliersupplier or vendor thereof, vendor or any other Person, whether for cash, credit against future purchases or then existing payables, or otherwise, unless (a) such return is in the Ordinary Course ordinary course of Business; business of Borrower and (b) no Event of Default or Overadvance exists or would result therefromsuch Person and any payments received by Borrower in connection with any such return is promptly turned over to Lender for application to the Obligations.
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