Common use of Sale or Discount of Accounts Clause in Contracts

Sale or Discount of Accounts. Borrower will not, and it will not cause or permit any Subsidiary to, sell or discount (other than prompt payment discounts granted in the ordinary course of business) any of its notes or accounts receivable or chattel paper generated from the sale of natural gas, except for (i) past due accounts that may be sold to a collection agent and (ii) Permitted Securitizations that comply with clause (iv) of Section 6.03(b)(ii).

Appears in 3 contracts

Samples: Loan Agreement (Laclede Gas Co), Loan Agreement (Laclede Group Inc), Loan Agreement (Laclede Group Inc)

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Sale or Discount of Accounts. Borrower will not, and it will not cause or permit any Subsidiary to, sell or discount (other than prompt payment discounts granted in the ordinary course of business) any of its notes or accounts receivable or chattel paper generated from the sale of natural gas, except for (i) past due accounts that may be sold to a collection agent and (ii) Permitted Securitizations that comply with clause (iv4) of Section 6.03(b)(ii).

Appears in 3 contracts

Samples: Loan Agreement (Laclede Gas Co), Loan Agreement (Laclede Group Inc), Loan Agreement (Laclede Gas Co)

Sale or Discount of Accounts. Such Borrower will not, and it will not cause or permit any Subsidiary to, sell or discount (other than prompt payment discounts granted in the ordinary course of business) any of its notes or accounts receivable or chattel paper generated from the sale of natural gas, except for (i) past due accounts that may be sold to a collection agent disposed of as provided in Section 6.03(b)(ii), and (ii) Permitted Securitizations that comply with clause (iv3) of Section 6.03(b)(ii).

Appears in 3 contracts

Samples: Loan Agreement (Spire Missouri Inc), Loan Agreement (Spire Alabama Inc), Loan Agreement (Laclede Gas Co)

Sale or Discount of Accounts. The Borrower will not, and it will not cause or permit any Subsidiary to, sell or discount (other than prompt payment discounts granted in the ordinary course of business) any of its notes or accounts receivable or chattel paper generated from the sale of natural gas, except for (i) past due accounts that may be sold in the ordinary course of business and to a collection agent the extent permitted under Section 6.03(b)(ii) and (ii) Permitted Securitizations that comply with clause (ivz) of Section 6.03(b)(ii).

Appears in 2 contracts

Samples: Loan Agreement (Spire Missouri Inc), Loan Agreement (Spire Inc)

Sale or Discount of Accounts. The Borrower will not, and it will not cause or permit any Subsidiary to, sell or discount (other than prompt payment discounts granted in the ordinary course of business) any of its notes or accounts receivable or chattel paper generated from the sale of natural gas, except for (i) past due accounts that may be sold to a collection agent disposed of as provided in Section 6.03(b)(ii) and (ii) Permitted Securitizations that comply with clause (ivz) of Section 6.03(b)(ii).

Appears in 2 contracts

Samples: Loan Agreement (Spire Missouri Inc), Loan Agreement (Spire Missouri Inc)

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Sale or Discount of Accounts. Borrower will not, and it will not cause or permit any Subsidiary to, sell or discount (other than prompt payment discounts granted in the ordinary course of business) any of its notes or accounts receivable or chattel paper generated from the sale of natural gas, except for (i) past due accounts that may be sold to a collection agent and (ii) Permitted Securitizations that comply with clause (iv) of Section 6.03(b)(ii)agent.

Appears in 1 contract

Samples: Loan Agreement (Laclede Gas Co)

Sale or Discount of Accounts. The Borrower will not, and it will not cause or permit any Subsidiary to, sell or discount (other than prompt payment discounts granted in the ordinary course of business) any of its notes or accounts receivable or chattel paper generated from the sale of natural gas, except for (i) past due accounts that may be sold in the ordinary course of business and to a collection agent the extent permitted under Section 6.03(b)(ii) and (ii) Permitted Securitizations that comply with clause (iv4) of Section 6.03(b)(ii).

Appears in 1 contract

Samples: Loan Agreement (Spire Missouri Inc)

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