Common use of Avoidance Claims Clause in Contracts

Avoidance Claims. 10.13.1 Seller shall indemnify Purchaser from any loss arising out of the assertion of any Avoidance Claim and shall pay to Purchaser on demand the amount thereof. 10.13.2 Seller shall notify Purchaser within two (2) business days of it becoming aware of the assertion of an Avoidance Claim. 10.13.3 Seller or Purchaser, as the case may be, shall notify the other party within two (2) business days of it becoming aware of the assertion of an Avoidance Claim. Upon learning of an Avoidance Claim, Seller shall have the right to repurchase the Purchased Account in respect of which the claim arose by payment of the then unpaid Face Amount thereof together with any unpaid fees relating to the Purchased Account, or at Seller's option, by directing Purchaser to charge such amount to the A/R Manager Reserve Account. 10.13.4 This provision shall survive termination of this Agreement. 10.13.5 Seller shall inform Purchaser of any modifications to Amended and Restated Convertible Note and Warrant Purchase Agreement dated January 15, 2003 and the Asset Purchase Agreement dated January 15, 2003 between Seller on the one hand and Dolphin Investors on the other hand and provide copies to Purchaser of the foregoing. Seller shall inform Purchaser and provide copiescopies to Purchaser of any subsequent agreements it enters into with Dolphin Investors.

Avoidance Claims. 10.13.1 Seller shall indemnify Purchaser from any loss arising out of the assertion of any Avoidance Claim and shall pay to Purchaser on demand the amount thereof. 10.13.2 Seller shall notify Purchaser within two (2) business days of it becoming aware of the assertion of an Avoidance Claim. 10.13.3 Seller or Purchaser, as the case may be, shall notify the other party within two (2) business days of it becoming aware of the assertion of an Avoidance Claim. Upon learning of an Avoidance Claim, Seller shall have the right to repurchase the Purchased Account in respect of which the claim arose by payment of the then unpaid Face Amount thereof together with any unpaid fees relating to the Purchased Account, or at Seller's option, by directing Purchaser to charge such amount to the A/R Manager Reserve Account. 10.13.4 This provision shall survive termination of this Agreement. 10.13.5 Seller shall inform Purchaser of any modifications to Amended and Restated Convertible Note and Warrant Purchase Agreement dated January 15, 2003 and the Asset Purchase Agreement dated January 15, 2003 between Seller on the one hand and Dolphin Investors on the other hand and provide copies to Purchaser of the foregoing. Seller shall inform Purchaser and provide copiescopies copies to Purchaser of any subsequent agreements it enters into with Dolphin Investors.