Notice of Proceedings; Overpayments. The Borrower shall promptly notify the Master Servicer (and modify the next Borrowing Base Certificate to be delivered hereunder) in the event of any action, suit, proceeding, dispute, set-off, deduction, defense or counterclaim that is or may be asserted by an Obligor with respect to any Receivable.
Appears in 2 contracts
Samples: Loan and Security Agreement (Nu Tech Bio Med Inc), Loan and Security Agreement (Physicians Clinical Laboratory Inc)
Notice of Proceedings; Overpayments. The Borrower shall promptly notify the Master Servicer (and modify the next Borrowing Base Certificate to be delivered hereunder) in the event of any action, suit, proceeding, dispute, set-off, deduction, defense or counterclaim that is or may be asserted by an Obligor with respect to any Receivable. The Borrower shall make all payments to the Obligors necessary to prevent the Obligors from offsetting any earlier overpayment to the Borrower against any amounts the Obligors owe on any Receivables.
Appears in 1 contract
Samples: Loan and Security Agreement (Community Care of America Inc)
Notice of Proceedings; Overpayments. The Borrower Primary Servicer shall promptly notify the Master Servicer (and modify the next Borrowing Base Certificate to be delivered hereunder) in the event of any action, suit, proceeding, dispute, set-off, deduction, defense or counterclaim that is or may be asserted by an Obligor with respect to any Receivable. The Borrowers shall make all payments to prevent offsetting any earlier overpayment to the Borrowers against any amounts owing on any Receivables.
Appears in 1 contract
Samples: Loan and Security Agreement (Perennial Health Systems Inc)
