Collateral Reporting Inventory Sample Clauses
The 'Collateral Reporting; Inventory' clause requires a party to regularly provide detailed reports on the status and quantity of collateral, such as inventory, that secures an obligation. Typically, this involves submitting periodic statements or schedules that list current inventory levels, locations, and any changes since the last report. By mandating up-to-date and accurate reporting, this clause ensures transparency for the secured party and helps them monitor the value and sufficiency of the collateral, thereby reducing the risk of under-collateralization or loss.
Collateral Reporting Inventory. 6 3.6 Receivables.................................................. 7 3.7 Equipment.................................................... 7 3.8 Other Liens; No Disposition of Collateral................... 7 3.9
Collateral Reporting Inventory. (A) INVOICES. BORROWER SHALL NOT REDATE ANY INVOICE OR SALE FROM THE -------- ORIGINAL DATE THEREOF OR, MAKE SALES ON EXTENDED TERMS BEYOND THOSE CUSTOMARY IN BORROWER'S INDUSTRY, OR OTHERWISE EXTEND OR MODIFY THE TERM OF ANY RECEIVABLE. IF BORROWER BECOMES AWARE OF ANY MATTER AFFECTING ANY RECEIVABLE, INCLUDING INFORMATION AFFECTING THE CREDIT OF THE ACCOUNT DEBTOR THEREON, BORROWER SHALL PROMPTLY NOTIFY FINOVA IN WRITING.
(B) INSTRUMENTS. IN THE EVENT ANY RECEIVABLE IS OR BECOMES EVIDENCED BY A ----------- PROMISSORY NOTE, TRADE ACCEPTANCE OR ANY OTHER INSTRUMENT FOR THE PAYMENT OF MONEY, BORROWER SHALL IMMEDIATELY DELIVER SUCH INSTRUMENT TO FINOVA APPROPRIATELY ENDORSED TO FINOVA AND, REGARDLESS OF THE FORM OF ANY PRESENTMENT, DEMAND, NOTICE OF DISHONOR, PROTEST AND NOTICE OF PROTEST WITH RESPECT THERETO, BORROWER SHALL FINOVA LOAN AND SECURITY AGREEMENT ________________________________________________________________________________ REMAIN LIABLE THEREON UNTIL SUCH INSTRUMENT IS PAID IN FULL.
Collateral Reporting Inventory