Common use of Returned Inventory Clause in Contracts

Returned Inventory. In the event any Account Debtor returns Inventory to such Grantor when an Event of Default exists, such Grantor, upon the request of the Lender, shall: (i) hold the returned Inventory in trust for the Lender; (ii) segregate all returned Inventory from all of its other property; (iii) dispose of the returned Inventory solely according to the Lender’s written instructions; and (iv) not issue any credits or allowances with respect thereto without the Lender’s prior written consent. All returned Inventory shall be subject to the Lender’s Liens thereon.

Returned Inventory. In the event any Account Debtor returns Inventory to such Grantor when an Event of Default exists, such Grantor, Grantor shall upon the request of the Lender, shall: Agent (i) hold the returned Inventory in trust for the Lender; Agent, (ii) segregate all returned Inventory from all of its other property; , (iii) dispose of the returned Inventory solely according to the LenderAgent’s written instructions; instructions and (iv) not issue any credits or allowances with respect thereto without the LenderAgent’s prior written consent. All returned Inventory shall be subject to the LenderAgent’s Liens thereon.

Returned Inventory. In the event any Account Debtor returns Inventory to such Grantor when an Event of Default exists, such Grantor, upon the request of the LenderAgent, shall: (i) hold the returned Inventory in trust for the LenderAgent; (ii) segregate all returned Inventory from all of its other property; (iii) dispose of the returned Inventory solely according to the LenderAgent’s written instructions; and (iv) not issue any credits or allowances with respect thereto without the LenderAgent’s prior written consent. All returned Inventory shall be subject to the LenderAgent’s Liens thereon.