Common use of Credit Quality; Confirmations Clause in Contracts

Credit Quality; Confirmations. Bank may, at its option, conduct a credit check of the Account Debtor for each Account requested by Borrowers for financing as an Advance (other than a Non- Formula Advance) hereunder, in order to approve any such Account Debtor’s credit before agreeing to finance such Account. Bank may also verify directly with Account Debtors, from time to time and not necessarily all at one time, the validity, amount and other matters relating to such Accounts (including confirmations of Borrowers’ representations in Section 5.3) by means of mail, telephone or otherwise, either in the name of Borrowers or Bank from time to time in its sole discretion.

Appears in 1 contract

Samples: Loan and Security Agreement (Global Telecom & Technology, Inc.)

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Credit Quality; Confirmations. Bank may, at its option, conduct a credit check of the Account Debtor for each Account requested by Borrowers for financing as an Invoice Advance (other than a Non- Formula Advance) hereunder, hereunder in order to approve any such Account Debtor’s credit before agreeing to finance such Account. Bank may also verify directly with Account Debtors, from time to time and not necessarily all at one time, the validity, amount and other matters relating to such Accounts (including confirmations of Borrowers’ representations in Section 5.3) by means of mail, telephone or otherwise, either in the name of Borrowers or Bank from time to time in its sole discretion.

Appears in 1 contract

Samples: Silicon Valley Bank Loan and Security Agreement (Global Telecom & Technology, Inc.)

Credit Quality; Confirmations. Bank may, at its option, conduct a credit check of the Account Debtor for each Account or Purchase Order requested by Borrowers Borrower for financing as an Advance (other than a Non- Formula Advance) hereunder, hereunder in order to approve any such Account Debtor’s credit before agreeing to finance such AccountAccount or Purchase Order. Bank may also verify directly with the respective Account Debtors, from time to time and not necessarily all at one time, Debtors the validity, amount and other matters relating to such the Accounts or Purchase Orders (including confirmations of Borrowers’ Borrower’s representations in Section 5.3) by means of mail, telephone or otherwise, either in the name of Borrowers Borrower or Bank from time to time in its sole discretion.

Appears in 1 contract

Samples: Loan and Security Agreement (Bluearc Corp)

Credit Quality; Confirmations. Bank may, at its option, conduct a credit check of the Account Debtor for each Account requested by Borrowers Borrower for financing as an Advance (other than a Non- Formula Advance) hereunder, hereunder in order to approve any such Account Debtor’s credit before agreeing to finance such Account. Bank may also also, after consultation with Borrower, verify directly with the respective Account Debtors, from time to time and not necessarily all at one time, Debtors the validity, amount and other matters relating to such the Accounts (including confirmations of Borrowers’ Borrower’s representations in Section Sections 5.3, 5.4 and/or 5.5) by means of mail, telephone or otherwise, either in the name of Borrowers Borrower or Bank from time to time in its sole discretion.

Appears in 1 contract

Samples: Loan and Security Agreement (Paradigm Holdings, Inc)

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Credit Quality; Confirmations. Bank may, at its option, conduct a credit check of the Account Debtor for each Account requested by Borrowers for financing as an Advance (other than a Non- Formula Advance) hereunder, hereunder in order to approve any such Account Debtor’s credit before agreeing to finance such Account. Bank may also verify directly with Account Debtors, from time to time and not necessarily all at one time, the validity, amount and other matters relating to such Accounts (including confirmations of Borrowers’ representations in Section 5.3) by means of mail, telephone or otherwise, either in the name of Borrowers or Bank from time to time in its sole discretion.

Appears in 1 contract

Samples: Loan and Security Agreement (Global Telecom & Technology, Inc.)

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