Common use of Verification of Receivables Clause in Contracts

Verification of Receivables. The Bank may in the Event of Default, either orally or in writing, request confirmation from any debtor of the current amount and status of the accounts receivable upon which such debtor is obligated. At any other time, the Bank may reasonably request confirmation from any other debtor of the current amount and status of accounts receivable using a third party acceptable to the Bank, at cost to the Borrower.

Verification of Receivables. The Bank may in the Event of Defaultat any time, either orally or in writingwriting (in the name of Borrower or its appropriate subsidiary unless an Event of Default has occurred), request confirmation from any debtor of the current amount and status of the accounts receivable upon which such debtor is obligated. At any other time, the Bank may reasonably request confirmation from any other debtor of the current amount and status of accounts receivable using a third party acceptable to the Bank, at cost to the Borrower.

Verification of Receivables. The Bank may in the Event of Default, either orally or in writing, request confirmation from any debtor of the current amount and status of the accounts receivable upon which such debtor is obligated. At any other time, the Bank may reasonably request confirmation from any other debtor of the current amount and status of accounts receivable using a third party acceptable to the Bank, at cost to the Borrower.