Common use of Special Provisions Re: Receivables Clause in Contracts

Special Provisions Re: Receivables. (a) As of the time any Receivable becomes subject to the security interest provided for hereby, the Company shall be deemed to have warranted as to each and all of such Receivables that each Receivable and all papers and documents relating thereto are genuine and in all respects what they purport to be; that each Receivable is valid and subsisting and, if such Receivable is an account receivable, arises out of a bona fide sale, lease or rental of goods by the Company to, or in the process of being delivered to, or out of and for services theretofore actually rendered by the Company to, the account debtor named therein; that no such Receivable is evidenced by any instrument or chattel paper unless such instrument or chattel paper is promptly endorsed by the Company and delivered to the Collateral Agent (other than chattel paper consisting of rental agreements and other ordinary course agreements relating to the lease, rental or sale of goods which shall only be delivered to the Collateral Agent after the occurrence of an Event of Default hereunder and upon the request of the Collateral Agent); that no surety bond was required or given in connection with said Receivable or the contracts or purchase orders out of which the same arose; and that if said Receivable is scheduled, listed or referred to on any Borrowing Base Certificate as an Eligible Receivable, that said Receivable qualifies as an Eligible Receivable as of the date covered by such Borrowing Base Certificate.

Special Provisions Re: Receivables. (a) As of the time any Receivable becomes subject to the security interest provided for herebyhereby and at all times thereafter, the Company each Debtor shall be deemed to have warranted as to each and all of such its Receivables that all warranties of such Debtor set forth in this Agreement are true and correct with respect to each such Receivable; that each of its Receivable and all papers and documents relating thereto are genuine and in all respects what they purport to be; that each of its Receivable is valid and subsisting existing and, if such Receivable is an account receivableaccount, arises out of a bona fide sale, lease or rental sale of goods sold and delivered by the Company such Debtor to, or in the process of being delivered to, or out of and for services theretofore actually rendered by the Company such Debtor to, the account debtor named therein; that no such Receivable is evidenced by any instrument or chattel paper unless such instrument or chattel paper is promptly has theretofore been endorsed by the Company such Debtor and delivered to the Collateral Agent (other than except to the extent the aggregate unpaid amount of such instruments and chattel paper consisting of rental agreements not so endorsed and other ordinary course agreements relating to the lease, rental or sale of goods which shall only be delivered to the Collateral Agent after the occurrence of an Event of Default hereunder and upon the request of the Collateral Agentis less than $5,000,000 at any one time outstanding); and that no surety bond was required or given in connection with said such Receivable or the contracts or purchase orders out of which the same arose; . If any Receivable arises out of a contract with the United States of America or any of its departments, agencies or instrumentalities, after the occurrence and during the continuance of any Event of Default, the relevant Debtor agrees to notify the Agent and, at the request of the Agent or the Required Banks, execute whatever instruments and documents are required by the Agent in order that such Receivable shall be assigned to the Agent and that if said Receivable is scheduled, listed proper notice of such assignment shall be given under the federal Assignment of Claims Act (or referred any successor statute) or any similar statute relating to on any Borrowing Base Certificate as an Eligible Receivable, that said Receivable qualifies as an Eligible Receivable as the assignment of the date covered by such Borrowing Base CertificateReceivables.

Special Provisions Re: Receivables. (a) As of the time any Receivable becomes subject to the security interest provided for herebyhereby and at all times thereafter, the Company shall be deemed to have warranted as to each and all of such Receivables that all warranties of the Company set forth in this Agreement are true and correct with respect to each such Receivable; that each Receivable and all papers and documents relating thereto are genuine and in all respects what they purport to be; that each Receivable is valid and subsisting and, if such Receivable is an account receivableaccount, arises out of a bona fide sale, lease or rental sale of goods sold and delivered by the Company to, or in the process of being delivered to, or out of and for services theretofore actually rendered by the Company to, the account debtor named therein; that no such Receivable is evidenced by any instrument or chattel paper unless such instrument or chattel paper is promptly has theretofore been endorsed by the Company and delivered to the Collateral Agent (other than chattel paper consisting of rental agreements and other ordinary course agreements relating except to the lease, rental extent the Agent specifically requests the Company not to do so with respect to any such instrument or sale of goods which shall only be delivered to the Collateral Agent after the occurrence of an Event of Default hereunder and upon the request of the Collateral Agentchattel paper); that no surety bond was required or given in connection with said such Receivable or the contracts or purchase orders out of which the same arose; and that if said Receivable is scheduled, listed or referred to on any certificate evidencing the Borrowing Base Certificate or is otherwise a Receivable which the Company wants the Lenders to consider as an Eligible ReceivableAccount, that said Receivable qualifies as an Eligible Account. Without limiting the foregoing, if any Receivable which the Company desires to qualify as an Eligible Account arises out of a contract with the date covered United States of America or any of its departments, agencies or instrumentalities, the Company agrees to notify the Agent and execute whatever instruments and documents are required by the Agent in order that such Borrowing Base CertificateReceivable shall be assigned to the Agent and that proper notice of such assignment shall be given under the federal Assignment of Claims Act (or any successor statute).

Special Provisions Re: Receivables. (a) As of the time any Receivable which is an account receivable becomes subject to the security interest interests provided for hereby, the Company each Debtor shall be deemed to have warranted as to each and all of such its Receivables that each such Receivable and all papers and documents relating thereto are genuine and in all respects what they purport to be; that each such Receivable is valid and subsisting and, and if such Receivable is an account receivable, arises out of a bona fide sale, lease or rental of goods by the Company to, or in the process of being delivered to, or out of and for services theretofore actually rendered or to be rendered by the Company such Debtor to, the account debtor named therein; that the amount of the Receivable represented as owing is the correct amount actually and unconditionally owing, except for normal cash discounts on normal trade terms in the ordinary course of business if such Receivable is an account receivable; that the amount of such Receivable represented as owing is not disputed, and is not subject to any set-offs, credits, deductions or counter charges; that no such Receivable is evidenced by any instrument or chattel paper unless such instrument or chattel paper is promptly has theretofore been endorsed by the Company appropriate Debtor and delivered to the Collateral Agent Bank (other than chattel paper consisting of rental agreements and other ordinary course agreements relating except to the lease, rental extent the Bank specifically requests such Debtor not to do so with respect to any such instrument or sale of goods which shall only be delivered to the Collateral Agent after the occurrence of an Event of Default hereunder and upon the request of the Collateral Agentchattel paper); and that no surety bond was required or given in connection with said Receivable or the contracts or purchase orders out of which the same arose; . Without limiting the foregoing, if any Receivable arises out of a contract with the United States of America or any of its departments, agencies or instrumentalities, each Debtor agrees to notify the Bank and execute whatever instruments are required by the Bank in order that such Receivable shall be assigned to the Bank and that if said Receivable is scheduled, listed or referred to on any Borrowing Base Certificate as an Eligible Receivable, that said Receivable qualifies as an Eligible Receivable as proper notice of such assignment shall be given under the date covered by such Borrowing Base CertificateFederal Assignment of Claims Act.