USE AND COLLECTION OF COLLATERAL. 6.1. Use of Inventory Collateral ................................................62 6.2. Inventory Quality ..........................................................62 6.3. Adjustments and Allowances .................................................62 6.4.
USE AND COLLECTION OF COLLATERAL. 6-1. Use of Inventory Collateral 6-2. Inventory Quality 6-3. Adjustments and Allowances 6-4. Validity of Accounts 6-5. Notification to Account Debtors
USE AND COLLECTION OF COLLATERAL. 50 6-1. -Use of Inventory Collateral..............................50 6-2. -Inventory Quality........................................50 6-3. -Adjustments and Allowances...............................50 6-4. -Validity of Accounts.....................................50 6-5. -Notification to Account Debtors..........................51 ARTICLE 7-CASH MANAGEMENT. PAYMENT OF LIABILITIES............................51 7-1. -Depository Accounts......................................51 7-2. -Credit Card Receipts.....................................51 7-3. -The Concentration and the Funding Accounts...............51 7-4. -Proceeds and Collection of Accounts......................52 7-5. -Payment of Liabilities...................................52 7-6. -The Funding Account......................................53
USE AND COLLECTION OF COLLATERAL. 6-1 Use of Inventory Collateral --------------------------- 6-2. Inventory Quality ----------------- 6-3. Adjustments and Allowances -------------------------- 6-4. Validity of Accounts -------------------- 6-5. Notification to Account Debtors -------------------------------
USE AND COLLECTION OF COLLATERAL. 26- 6-1 USE OF INVENTORY COLLATERAL ................................................ -26- 6-2. INVENTORY QUALITY .......................................................... -27- 6-3. ADJUSTMENTS AND ALLOWANCES ................................................. -27- 6-4. VALIDITY OF ACCOUNTS ....................................................... -27- 6-5. NOTIFICATION TO ACCOUNT DEBTORS ............................................ -27- ARTICLE 7 - CASH MANAGEMENT ............................................................ -27- -iv- 7-1. DEPOSITORY ACCOUNTS ........................................................ -27- 7-2. CREDIT CARD RECEIPTS ....................................................... -28- 7-3. THE CONCENTRATION ACCOUNT, THE BLOCKED ACCOUNT AND THE FUNDING ACCOUNTS .... -29- 7-4. PROCEEDS AND COLLECTION OF ACCOUNTS ........................................ -29- 7-5. PAYMENT OF LIABILITIES ..................................................... -30- 7-6. THE FUNDING ACCOUNT ....................................................... -30- ARTICLE 8 - LENDER AS BORROWER'S ATTORNEY-IN-FACT ....................................... -30- 8-1. APPOINTMENT AS ATTORNEY-IN-FACT ............................................ -30- 8-2. NO OBLIGATION TO ACT ....................................................... -31- ARTICLE 9 - FINANCIAL AND OTHER REPORTING REQUIREMENTS/FINANCIAL COVENANTS ............. -32- 9-1. MAINTAIN RECORDS ........................................................... -32- 9-2. ACCESS TO RECORDS .......................................................... -32- 9-3. IMMEDIATE NOTICE TO LENDER ................................................. -33- 9-4. BORROWING BASE CERTIFICATE ................................................. -34- 9-5. WEEKLY REPORTS ............................................................. -34- 9-6. MONTHLY REPORTS ............................................................ -35- 9-7. ANNUAL REPORTS ............................................................. -35- 9-8. OFFICERS' CERTIFICATES ..................................................... -35- 9-9. INVENTORIES, APPRAISALS, AND AUDITS ........................................ -36- 9.10 ADDITIONAL FINANCIAL INFORMATION ........................................... -37- -v- 9-11. FINANCIAL PERFORMANCE AND INVENTORY COVENANTS .............................. -37- 9-12. ELECTRONIC REPORTING........................................................ -37- ARTICLE 10 - EVENTS OF DEFAUL...
USE AND COLLECTION OF COLLATERAL. 28 6-1. Use of Inventory Collateral 28 6-2. Inventory Quality 29 6-3. Adjustments and Allowances 29 6-4. Validity of Accounts 29 6-5. Notification to Account Debtors 29 ARTICLE 7 - CASH MANAGEMENT 30 7-1. Depository Accounts 30 7-2. Credit Card Receipts 30 7-3. The Concentration and the Funding Accounts 31 7-4. Proceeds and Collection of Accounts 31 7-5. Payment of Liabilities 32 7-6. The Funding Account 32
USE AND COLLECTION OF COLLATERAL. 73 6-1. Use of Inventory Collateral............................ 73 6-2. Adjustments and Allowances............................. 73 6-3. Validity of Accounts................................... 73 6-4. Notification to Account Debtors........................ 74 Exhibit 10.4 ARTICLE 7 - CASH MANAGEMENT. PAYMENT OF LIABILITIES:.................. 74 7-1 Depository Accounts.................................... 74 7-2. Credit Card Receipts................................... 75 7-3. The Concentration, Blocked, and Operating Accounts..... 75 7-4. Proceeds and Collection of Accounts.................... 76 7-5. Payment of Liabilities................................. 77 7-6. The Operating Account.................................. 78 ARTICLE 8 - GRANT OF SECURITY INTEREST:............................... 78 8-1. Grant of Security Interest............................. 78 8-2. Extent and Duration of Security Interest............... 80
USE AND COLLECTION OF COLLATERAL. With notice to Lender and Lender's opportunity to participate in any proceedings regarding the same, Borrower may consent to the return of any item of Collateral pursuant to Section 546(h)(a/k/a the Second Section 546(g)) of the Bankruptcy Code.
USE AND COLLECTION OF COLLATERAL. 117 6.1. Use of Inventory Collateral.........................................
USE AND COLLECTION OF COLLATERAL. 54 8-1. Adjustments and Allowances 54 8-2. Validity of Accounts 54 8-3. Notification to Account Debtors 55 ARTICLE 9 - RECEIVABLES 55 9-1. Proceeds and Collection of Accounts 55 9-2. Proceeds and Collection of Accounts Held in Trust 56 9-3. Payment of Liabilities 56
