Common use of Sales of Accounts Clause in Contracts

Sales of Accounts. The Borrower will not, nor will the Borrower permit any of its Subsidiaries to, sell, with or without recourse, or discount or otherwise sell for less than the face value thereof, any of their notes or accounts receivable except that the Borrower or any of its Subsidiaries may sell, without recourse, accounts receivable of individual account debtors that the Borrower or such Subsidiary reasonably and in good faith believes to be uncollectible or otherwise difficult to collect in the ordinary course of business so long as the aggregate face amount (less applicable reserves) of all such accounts receivable of the Borrower and its Subsidiaries so sold in any fiscal year of the Borrower does not exceed $500,000 (as to the Borrower and its Subsidiaries).

Sales of Accounts. The Borrower will not, nor will the Borrower permit any of its Subsidiaries to, sell, with or without recourse, or discount or otherwise sell for less than the face value thereof, thereof any of their notes or accounts receivable receivable, except that the Borrower or any of its Subsidiaries may sell, without recourse, accounts receivable of individual account debtors that the Borrower or such Subsidiary reasonably and in good faith believes to be uncollectible or otherwise difficult to collect in the ordinary course of business so long as the aggregate face amount (less applicable reserves) of all such accounts receivable of the Borrower and its Subsidiaries so sold in any fiscal year of the Borrower does not exceed $500,000 (as to the Borrower and its Subsidiaries).