Common use of Deemed Collections; Repurchase Clause in Contracts

Deemed Collections; Repurchase. 4.2.1 If on any day the Account Balance is reduced or adjusted as a result of any defective, rejected or returned merchandise or services, any cash discount, any credit, any incorrect billing, pricing adjustment or any other adjustment by Seller or is reduced or canceled as a result of a setoff in respect of any claim by the Account Debtor thereof against Seller (whether such claim arises out of the same or a related or unrelated transaction) or as a result of any dispute or any obligation of Seller to pay to the related Account Debtor any rebate or refund, or to rework any product or service, Seller shall directly deposit into the Segregated Account in immediately available funds an amount equal to the Deemed Collections of such reduction or adjustment.

Deemed Collections; Repurchase. 4.2.1 3.2.1 If on any day the Account Balance is reduced or adjusted as a result of any defective, rejected or returned merchandise or services, any cash discount, any credit, any incorrect billing, pricing adjustment or any other adjustment by Seller or is reduced or canceled as a result of a setoff in respect of any claim by the Account Debtor thereof against Seller (whether such claim arises out of the same or a related or unrelated transaction) or as a result of any dispute or any obligation of Seller to pay to the related Account Debtor any rebate or refund, or to rework any product or service, Seller shall directly deposit into the Segregated Account in immediately available funds an amount equal to the Deemed Collections of such reduction or adjustment.