Common use of Verifications; Confirmations; Credit Quality; Notifications Clause in Contracts

Verifications; Confirmations; Credit Quality; Notifications. Bank may, from time to time, (i) verify and confirm directly with the respective Account Debtors the validity, amount and other matters relating to the Accounts, either in the name of Borrower or Bank or such other name as Bank may choose, and notify any Account Debtor of Bank’s security interest in such Account and/or (ii) conduct a credit check of any Account Debtor to approve any such Account Debtor’s credit. Notwithstanding the foregoing, while no Event of Default has occurred and is continuing, Bank will notify Borrower prior to making direct contact with an Account Debtor.

Appears in 4 contracts

Samples: Loan and Security Agreement (Myomo, Inc.), Loan and Security Agreement (Treace Medical Concepts, Inc.), Loan and Security Agreement (Treace Medical Concepts, Inc.)

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Verifications; Confirmations; Credit Quality; Notifications. Bank may, from time to time, (i) verify and confirm directly with the respective Account Debtors the validity, amount and other matters relating to the Accounts, either in the name of Borrower or Bank or such other name as Bank may choose, and notify any Account Debtor of Bank’s security interest in such Account and/or (ii) conduct a credit check of any Account Debtor to approve any such Account Debtor’s credit. Notwithstanding the foregoing, while no Event of Default has occurred and is continuing, Bank will notify and consult with Borrower prior to making direct contact with an Account Debtor.

Appears in 1 contract

Samples: Loan and Security Agreement (Sentinel Labs, Inc.)

Verifications; Confirmations; Credit Quality; Notifications. Bank may, from time to time, (i) verify and confirm directly with the respective Account Debtors the validity, amount and other matters relating to the Accounts, either in the name of Borrower or Bank or such other name as Bank may choose, and notify any Account Debtor of Bank’s security interest in such Account and/or (ii) conduct a credit check of any Account Debtor to approve any such Account Debtor’s credit. Notwithstanding the foregoing, while so long as no Event of Default has occurred and is continuing, Bank will notify and consult with Borrower prior to making any direct contact with an Account Debtor.

Appears in 1 contract

Samples: Loan and Security Agreement (Telaria, Inc.)

Verifications; Confirmations; Credit Quality; Notifications. Bank may, from time to time, (i) verify and confirm directly with the respective Account Debtors the validity, amount and other matters relating to the Accounts, either in the name of Borrower or Bank or such other name as Bank may choose, and notify any Account Debtor of Bank’s security interest in such Account and/or (ii) conduct a credit check of any Account Debtor to approve any such Account Debtor’s credit. Notwithstanding the foregoingIn addition, while Bank may notify Account Debtors to make payments in respect of Accounts directly to Bank. So long as no Event of Default has occurred and is continuingexists, Bank will notify Borrower prior to making any direct contact with an Account Debtor.

Appears in 1 contract

Samples: Loan and Security Agreement (Frankly Inc)

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Verifications; Confirmations; Credit Quality; Notifications. Bank may, from time to time, (i) verify and confirm directly with the respective Account Debtors the validity, amount and other matters relating to the Accounts, either in the name of Borrower or Bank or such other name as Bank may choose, and notify any Account Debtor of Bank’s security interest in such Account and/or (ii) conduct a credit check of any Account Debtor to approve any such Account Debtor’s credit. Notwithstanding the foregoing, while so long as no Event of Default has occurred and is continuing, Bank will notify and consult with Borrower prior to making direct contact with an Account Debtor.

Appears in 1 contract

Samples: Loan and Security Agreement (Misonix Inc)

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