Settling of Accounts. No Borrower shall settle or adjust any Account identified by a Borrower as an Eligible Account or with respect to which the Account Debtor is an Affiliate without the consent of Administrative Agent, provided, that following the occurrence and during the continuance of an Event of Default, no Loan Party shall settle or adjust any Account without the consent of Administrative Agent.
Appears in 2 contracts
Samples: Loan and Security Agreement (S&W Seed Co), Loan and Security Agreement (S&W Seed Co)
Settling of Accounts. No Borrower shall settle or adjust any Account identified by a such Borrower as an Eligible Account, Eligible Foreign Account or with respect to which the Account Debtor is an Affiliate without the consent of Administrative AgentLender, provided, that following the occurrence and during the continuance of an Event of Default, no Loan Party shall settle or adjust any Account without the consent of Administrative AgentLender.
Appears in 2 contracts
Samples: Loan and Security Agreement, Loan and Security Agreement (Lawson Products Inc/New/De/)
Settling of Accounts. No Borrower shall not settle or adjust any Account identified by a Borrower as an Eligible Account or with respect to which the Account Debtor is an Affiliate without the consent of Administrative Agent, provided, that following the occurrence and during the continuance of an Event of Default, no Loan Party shall settle or adjust any Account without the consent of Administrative Agent.
Appears in 1 contract
Samples: Loan and Security Agreement (Broadwind Energy, Inc.)
