Common use of Notice of Diminution of Value Clause in Contracts

Notice of Diminution of Value. Borrower and each Guarantor shall ----------------------------- give prompt notice to Lender of any matter or event which has resulted in, or may result in, the actual or potential diminution in excess of $200,000 in the value of any of the Collateral, except for any diminution in the value of any Receivables or Inventory in the ordinary course of business which has been appropriately reserved against, as reflected in the financial statements previously delivered to Lender pursuant to Article 9.

Appears in 1 contract

Samples: Loan and Security Agreement (Acr Group Inc)

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Notice of Diminution of Value. Borrower and each Guarantor The Borrowers shall ----------------------------- give prompt notice to the Lender of any matter or event which has resulted in, or may result in, the actual or potential diminution in excess of $200,000 50,000 in the value of any of the Collateral, except for any diminution in the value of any Receivables or Inventory in the ordinary course of business which has been appropriately reserved against, as reflected in the financial statements previously delivered to Lender pursuant to Article 9.

Appears in 1 contract

Samples: Loan and Security Agreement (Denali Inc)

Notice of Diminution of Value. Borrower and each Guarantor The Borrowers shall ----------------------------- give prompt notice to the Lender of any matter or event which has resulted in, or may result in, the actual or potential diminution in excess of $200,000 400,000 in the value of any of the its Collateral, except for any diminution in the value of any Receivables or Inventory in the ordinary course of business which has been appropriately reserved against, as reflected in the financial statements previously delivered to the Lender pursuant to Article 9.

Appears in 1 contract

Samples: Loan and Security Agreement (Intellicall Inc)

Notice of Diminution of Value. Borrower and each Guarantor The Borrowers shall ----------------------------- give prompt notice to the Lender of any matter or event which has resulted in, or may result in, the actual or potential diminution in excess of $200,000 400,000 in the value of any of the its Collateral, except for any diminution in the value of any Receivables or Inventory in the ordinary course of business which has been appropriately reserved against, as reflected in the financial statements previously delivered to the Lender pursuant to Article ARTICLE 9.

Appears in 1 contract

Samples: Loan and Security Agreement (Ild Telecommunications Inc)

Notice of Diminution of Value. The Borrower and each Guarantor shall ----------------------------- give prompt notice to the Lender of any matter or event which has resulted in, or may result in, the actual or potential diminution in excess of $200,000 50,000 in the value of any of the its Collateral, except for any diminution in the value of any Receivables or Inventory in the ordinary course of business which has been appropriately reserved against, as reflected in the financial statements previously delivered to the Lender pursuant to Article ARTICLE 9.

Appears in 1 contract

Samples: Loan and Security Agreement (Airport Systems International Inc)

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Notice of Diminution of Value. The Borrower and each Guarantor shall ----------------------------- give prompt notice to Lender the Agent of any matter or event which has resulted in, or may result in, the actual or potential diminution in excess of $200,000 50,000 in the value of any of the its Collateral, except for any diminution in the value of any Receivables or Inventory in the ordinary course of business which has been appropriately reserved against, as reflected in the financial statements previously delivered to Lender the Lenders pursuant to Article 9ARTICLE 10.

Appears in 1 contract

Samples: Loan and Security Agreement (Supreme International Corp)

Notice of Diminution of Value. Borrower and each Guarantor shall ----------------------------- give prompt notice to Lender of any matter or event which has resulted in, or may result in, the actual or potential diminution in excess of $200,000 100,000 in the value of any of the Collateral, except for any diminution in the value of any Receivables or Inventory in the ordinary course of business which has been appropriately reserved against, as reflected in the financial statements previously delivered to Lender pursuant to Article 9.

Appears in 1 contract

Samples: Loan and Security Agreement (Acr Group Inc)

Notice of Diminution of Value. The Borrower and each Guarantor shall ----------------------------- give prompt notice to the Lender of any matter or event which has resulted in, or may result in, the actual or potential diminution in excess of $200,000 100,000 in the value of any of the its Collateral, except for any diminution in the value of any Receivables or Inventory in the ordinary course of business which has been appropriately reserved against, as reflected in the financial statements previously delivered to the Lender pursuant to Article 9.

Appears in 1 contract

Samples: Loan and Security Agreement (Shoneys Inc)

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