Returns. Provided no Event of Default has occurred and is continuing, if any Account Debtor returns any Inventory to Borrower, Borrower shall promptly determine the reason for such return and promptly issue a credit memorandum to the Account Debtor in the appropriate amount. In the event any attempted return occurs after the occurrence and during the continuance of any Event of Default, Borrower shall hold the returned Inventory in trust for Silicon, and immediately notify Silicon of the return of the Inventory.
Appears in 49 contracts
Samples: Loan and Security Agreement (Telecommunication Systems Inc /Fa/), Loan and Security Agreement (Essential Group Inc), Loan and Security Agreement (PortalPlayer, Inc.)
Returns. Provided no Event of Default has occurred and is continuing, if any Account Debtor returns any Inventory to Borrower, Borrower shall promptly determine the reason for such return and if such return is customarily acceptable to Borrower under the circumstances, then Borrower shall promptly issue a credit memorandum to the Account Debtor in the appropriate amount. In the event any attempted return occurs after the occurrence and during the continuance of any Event of Default, Borrower shall hold the returned Inventory in trust for Silicon, and immediately notify Silicon of the return of the Inventory.
Appears in 2 contracts
Samples: Loan and Security Agreement (Endocardial Solutions Inc), Loan and Security Agreement (Endocardial Solutions Inc)
Returns. Provided no Event of Default has occurred and is continuing, if any Account Debtor returns any Inventory to Borrower, Borrower shall promptly determine the reason for such return and promptly issue a credit memorandum to the Account Debtor in the appropriate amount. In the event any attempted return occurs after the occurrence and during the continuance of any Event of Default, Borrower shall hold the returned Inventory in trust for Silicon, and immediately promptly notify Silicon of the return of the Inventory.
Appears in 2 contracts
Samples: Loan and Security Agreement (Cogent Communications Group Inc), Loan and Security Agreement (Cogent Communications Group Inc)
Returns. Provided no Event of Default has occurred and is continuing, if any Account Debtor returns any Inventory to either Borrower, such Borrower shall promptly determine the reason for such return and promptly issue a credit memorandum to the Account Debtor in the appropriate amount. In the event any attempted return occurs after the occurrence and during the continuance of any Event of Default, Borrower Borrowers shall hold the returned Inventory in trust for Silicon, and immediately notify Silicon of the return of the Inventory.
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