Common use of Agreements Regarding Receivables Clause in Contracts

Agreements Regarding Receivables. No Borrower may backdate, postdate or redate any of its invoices which relate to Eligible Accounts. No Borrower may make any sales on extended dating or credit terms with respect to Eligible Accounts beyond that customary in such Borrower’s industry except in the Ordinary Course of Business or consented to in advance by Agent. In addition to the Borrowing Base Certificate to be delivered in accordance with this Agreement, Borrower Representative shall notify Agent promptly upon any Borrower’s learning thereof, in the event any Eligible Account becomes ineligible for any reason, other than the aging of such Account, and of the reasons for such ineligibility. Borrower Representative shall also notify Agent promptly of all material disputes and claims with respect to the Accounts of any Borrower, and such Borrower will settle or adjust such material disputes and claims at no expense to Agent; provided, however, no Borrower may, without Agent’s consent, grant (a) any discount, credit or allowance in respect of any Account with a value in excess of $1,000,000 or (b) any materially adverse extension, compromise or settlement to any customer or account debtor with respect to any then Eligible Account. Nothing permitted by this Section 5.16, however, may be construed to alter any of the criteria for Eligible Accounts or Eligible Inventory provided in Section 1.1.

Agreements Regarding Receivables. No Borrower may not backdate, postdate or redate any of its invoices which relate to Eligible Accountsor statements. No Borrower may not make any sales on extended dating or credit terms with respect to Eligible Accounts beyond that customary in such the ordinary course of Borrower’s industry except in the Ordinary Course of Business or consented to in advance by Agentbusiness. In addition to the Borrowing Base Certificate to be delivered in accordance with this AgreementSection 8.3, Borrower Representative shall notify Agent promptly upon any Borrower’s learning thereof, in the event any Eligible Account Receivable in an amount in excess of $250,000 becomes ineligible for any reason, other than the aging of such AccountReceivable, and of the reasons for such ineligibility. Borrower Representative shall also notify Agent promptly of all material disputes and claims with respect to the Accounts its Receivables (other than with respect to any individual Receivable in an amount not in excess of any Borrower$250,000), and such Borrower will settle or adjust such material disputes and claims at no expense to AgentAgent or the Lenders; provided, however, no Borrower maymay not, without Agent’s consent, grant (ai) any discount, credit or allowance in respect of its Receivables (a) which is outside the ordinary course of business and (b) which discount, credit or allowance exceeds an amount equal to $100,000 in the aggregate with respect to any Account with a value in excess of $1,000,000 individual Receivable or (bii) any materially adverse extension, compromise or settlement to any customer or account debtor with respect to any then Eligible AccountReceivable, other than in respect to any such individual Receivable in an amount not in excess of $250,000. Nothing permitted by this Section 5.167.1 or Section 7.2, however, may be construed to alter in any of way the criteria for Eligible Accounts or Eligible Inventory Receivables provided in Section 1.1.

Agreements Regarding Receivables. No Borrower may backdate, postdate or redate any of its invoices which relate to Eligible Accountsinvoices, other than current redates on rebills in the Ordinary Course of Business. No Borrower may make any sales on extended dating or credit terms with respect to Eligible Accounts beyond that customary in such Borrower’s 's industry except in the Ordinary Course of Business or and consented to in advance by Agent. In addition to the Borrowing Base Certificate to be delivered in accordance with this Agreement, Borrower Representative shall notify Agent promptly upon any Borrower’s 's learning thereof, in the event any Eligible Account or Eligible Unbilled Account becomes ineligible for any reason, other than the aging of such Account, and of the reasons for such ineligibility. Borrower Representative shall also notify Agent promptly of all material disputes and claims with respect to the Accounts of any Borrower, and such Borrower will settle or adjust such material disputes and claims at no expense to Agent; provided, however, no Borrower may, without Agent’s 's consent, grant (a) any discount, credit or allowance in respect of its Accounts (i) which is outside the ordinary course of business or (ii) which discount, credit or allowance exceeds an amount equal to $100,000 in the aggregate with respect to any individual Account with a value in excess of $1,000,000 or (b) any materially adverse extension, compromise or settlement to any customer or account debtor with respect to any then Eligible Account or Eligible Unbilled Account. Nothing permitted by this Section 5.16, however, may be construed to alter in any of the criteria for Eligible Accounts or Eligible Inventory Unbilled Accounts provided in Section 1.1.

Agreements Regarding Receivables. No Borrower Credit Party may backdate, postdate or redate any of its invoices which relate except as necessary to Eligible Accountscorrect manifest errors with respect to such invoices. No Borrower Credit Party may make any sales on extended dating or credit terms with respect to Eligible Accounts beyond that customary in such BorrowerCredit Party’s industry except in the Ordinary Course of Business or and consented to in advance by Agent. In addition to the Borrowing Base Certificate to be delivered in accordance with this Agreement, Borrower Representative shall notify Agent promptly upon any Borrower’s learning thereof, in the event any Eligible Account becomes ineligible for any reason, other than the aging of such Account, and of the reasons for such ineligibility. Borrower Representative shall also notify Agent promptly of all material disputes and claims with respect to the Accounts of any Borrower, and such Borrower will settle or adjust such material disputes and claims at no expense to Agent; provided, however, no Borrower may, without Agent’s consent, grant (a) any discount, credit or allowance in respect of its Accounts, which discount, credit or allowance is (i) outside the Ordinary Course of Business or (ii) in an amount equal to or greater than [***] in the aggregate with respect to any Account with a value in excess of $1,000,000 individual Account, or (b) any materially adverse extension, compromise or settlement to any customer or account debtor with respect MidCap / Cerus / A&R Credit, Security and Guaranty Agreement (Revolving Loan) [***] = Certain Confidential Information Omitted to any then Eligible Account. Nothing permitted by this Section 5.165.18, however, may be construed to alter in any of the criteria for Eligible Accounts or Eligible Inventory provided in Section 1.1.

Agreements Regarding Receivables. No Borrower may backdate, postdate or redate any of its invoices which relate to Eligible Accounts. No Borrower may make any sales on extended dating or credit terms with respect to Eligible Accounts beyond that customary in such Borrower’s industry except in the Ordinary Course of Business or consented to in advance by Agent. In addition to the Borrowing Base Certificate to be delivered in accordance with this Agreement, Borrower Representative shall notify Agent promptly upon any Borrower’s learning thereof, in the event any Eligible Account becomes ineligible for any reason, other than the aging of such Account, and of the reasons for such ineligibility. Borrower Representative shall also notify Agent promptly of all material disputes and claims with respect to the Accounts of any Borrower, and such Borrower will settle or adjust 77 such material disputes and claims at no expense to Agent; provided, however, no Borrower may, without Agent’s consent, grant (a) any discount, credit or allowance in respect of any Account with a value in excess of $1,000,000 or (b) any materially adverse extension, compromise or settlement to any customer or account debtor with respect to any then Eligible Account. Nothing permitted by this Section 5.16, however, may be construed to alter any of the criteria for Eligible Accounts or Eligible Inventory provided in Section 1.1.