Returns of Inventory. No Borrower shall return any Inventory to a supplier, vendor or other Person, whether for cash, credit or otherwise, unless (a) such return is in the Ordinary Course of Business; (b) no Default, Event of Default or Overadvance exists or would result therefrom; (c) Agent is promptly notified if the aggregate Value of all Inventory returned in any month exceeds $1,000,000; and (d) any payment received by a Borrower for a return is promptly remitted to Agent for application to the Obligations.
Appears in 10 contracts
Samples: Loan and Security Agreement (U.S. Concrete, Inc.), Guaranty and Security Agreement (ArcLight Clean Transition Corp.), Loan and Security Agreement (Arctic Cat Inc)
Returns of Inventory. No Borrower shall return any Inventory to a supplier, vendor or other Person, whether for cash, credit or otherwise, unless (a) such return is in the Ordinary Course of Business; (b) no Default, Event of Default or Overadvance exists or would result therefrom; (c) Agent is promptly notified if the aggregate Value of all Inventory returned in any month exceeds $1,000,000250,000; and (d) any payment received by a Borrower for a return is promptly remitted to Agent for application to the Obligations.
Appears in 8 contracts
Samples: Loan and Security Agreement (Bespoke Capital Acquisition Corp), First Lien Loan and Security Agreement (Duckhorn Portfolio, Inc.), First Lien Loan and Security Agreement (Duckhorn Portfolio, Inc.)
Returns of Inventory. No Borrower shall return any Inventory to a supplier, vendor or other Person, whether for cash, credit or otherwise, unless (a) such return is in the Ordinary Course of Business; (b) no Default, Event of Default or Overadvance exists or would result therefrom; (c) Agent is promptly notified if the aggregate Value of all Inventory returned in any month exceeds $1,000,0005,000,000; and (d) any payment received by a Borrower for a return is promptly remitted to Agent for application to the Obligations.
Appears in 7 contracts
Samples: Loan and Security Agreement (Olympic Steel Inc), Loan and Security Agreement (Olympic Steel Inc), Loan and Security Agreement (Olympic Steel Inc)
Returns of Inventory. No Borrower shall return any Inventory to a supplier, vendor or other Person, whether for cash, credit or otherwise, unless (a) such return is in the Ordinary Course of Business; (b) no Default, Event of Default or Overadvance exists or would result therefrom; (c) Agent is promptly notified if the aggregate Value of all Inventory returned in any month exceeds $1,000,00025,000; and (d) any payment received by a Borrower for a return is promptly remitted to Agent for application to the Obligations.
Appears in 7 contracts
Samples: Loan and Security Agreement (P&f Industries Inc), Loan and Security Agreement (P&f Industries Inc), Loan and Security Agreement (P&f Industries Inc)
Returns of Inventory. No Borrower shall return any Inventory to a supplier, vendor or other Person, whether for cash, credit or otherwise, unless (a) such return is in the Ordinary Course of Business; (b) no Default, Event of Default or Overadvance exists or would result therefrom; (c) Agent is promptly notified if the aggregate Value of all Inventory returned in any month exceeds $1,000,000500,000; and (d) any payment received by a Borrower for a return is promptly remitted to Agent for application to the Obligations.
Appears in 6 contracts
Samples: Loan and Security Agreement (Mynd.ai, Inc.), Loan and Security Agreement (Houston Wire & Cable CO), Loan and Security Agreement (Houston Wire & Cable CO)
Returns of Inventory. No Borrower shall return any Inventory to a supplier, vendor or other Person, whether for cash, credit or otherwise, unless (a) such return is in the Ordinary Course of Business; (b) no Default, Event of Default or Overadvance exists or would result therefrom; (c) Agent is promptly notified if the aggregate Value of all Inventory returned in any month exceeds $1,000,0002,500,000; and (d) any payment received by a Borrower for a return is promptly remitted to Agent for application to the Obligations.
Appears in 3 contracts
Samples: Loan Agreement (School Specialty Inc), Loan Agreement (School Specialty Inc), Loan Agreement (School Specialty Inc)
Returns of Inventory. No Borrower shall not return any Inventory to a supplier, vendor or other Person, whether for cash, credit or otherwise, unless (a) such return is in the Ordinary Course of Business; (b) no Default, Event of Default or Overadvance exists or would result therefrom; (c) Agent is promptly notified if the aggregate Value of all Inventory returned in any month exceeds $1,000,000; and (d) any payment received by a Borrower for a return is promptly remitted to Agent for application to the Obligations.
Appears in 3 contracts
Samples: Loan and Security Agreement (Ak Steel Holding Corp), Loan and Security Agreement (Ak Steel Holding Corp), Loan and Security Agreement (Ak Steel Holding Corp)
Returns of Inventory. No Borrower shall return any Inventory to a supplier, vendor or other Person, whether for cash, credit or otherwise, unless (a) such return is in the Ordinary Course of Business; (b) no Default, Event of Default or Overadvance exists or would result therefrom; (c) Agent is promptly notified if the aggregate Value of all Inventory returned in any month exceeds $1,000,0003,000,000; and (d) any payment received by a Borrower for a return during any Trigger Period is promptly remitted to Agent for application to the Obligations.
Appears in 3 contracts
Samples: Loan and Security Agreement (Clearwater Paper Corp), Loan and Security Agreement (Potlatch Forest Products CORP), Loan and Security Agreement (Clearwater Paper Corp)
Returns of Inventory. No Borrower shall return any Inventory to a supplier, vendor or other Person, whether for cash, credit or otherwise, unless (a) such return is in the Ordinary Course of Business; (b) no Default, Event of Default or Overadvance exists or would result therefrom; (c) Agent is promptly notified if the aggregate Value of all Inventory returned in any month exceeds $1,000,000100,000; and (d) any payment received by a Borrower for a return is promptly remitted to Agent for application to the Obligations.
Appears in 3 contracts
Samples: Loan and Security Agreement (Installed Building Products, Inc.), Loan and Security Agreement (Chromcraft Revington Inc), Loan and Security Agreement (Modtech Holdings Inc)
Returns of Inventory. No Borrower shall return any Inventory to a supplier, vendor or other Person, whether for cash, credit or otherwise, unless (a) such return is in the Ordinary Course of Business; (b) no Default, Event of Default or Overadvance exists or would result therefrom; (c) Agent is promptly notified if the aggregate Value of all Inventory returned in any month exceeds $1,000,000250,000; and (d) any payment received by a Borrower for a return is promptly remitted to Agent for application to the Obligations.
Appears in 3 contracts
Samples: Loan and Security Agreement (Akorn Inc), Loan and Security Agreement (Bairnco Corp /De/), Loan and Security Agreement (WHX Corp)
Returns of Inventory. No Borrower shall return any Inventory to a supplier, vendor or other Person, whether for cash, credit or otherwise, unless (a) such return is in the Ordinary Course of Business; (b) no Default, Event of Default or Overadvance exists or would result therefrom; (c) Agent is promptly notified if the aggregate Value of all Inventory returned in any month since delivery of the last Borrowing Base Certificate exceeds $1,000,000; and (d) any payment received by a Borrower for a return is promptly remitted to Agent for application to the Obligationsa Dominion Account.
Appears in 3 contracts
Samples: Loan and Security Agreement (Headwaters Inc), Loan and Security Agreement (Headwaters Inc), Loan and Security Agreement (Headwaters Inc)
Returns of Inventory. No Borrower shall return any Inventory to a supplier, vendor or other Person, whether for cash, credit or otherwise, unless (a) such return is in the Ordinary Course of Business; (b) no Default, Event of Default or Overadvance exists or would result therefrom; (c) Agent is promptly notified if the aggregate Value of all Inventory returned in any month Fiscal Month exceeds $1,000,0002,000,000; and (d) any net cash payment for such proceeds received by a Borrower for a return is promptly remitted to Agent for application to the ObligationsObligations without a corresponding commitment reduction.
Appears in 3 contracts
Samples: Loan and Security Agreement (Commercial Vehicle Group, Inc.), Loan and Security Agreement (Commercial Vehicle Group, Inc.), Loan and Security Agreement (Commercial Vehicle Group, Inc.)
Returns of Inventory. No Borrower Borrowing Base Obligor shall return any Inventory to a supplier, vendor or other Person, whether for cash, credit or otherwise, unless (a) such return is in the Ordinary Course of Business; (b) no Default, Event of Default or Overadvance exists or would result therefrom; (c) Agent is promptly notified if the aggregate Value of all Inventory returned in any month exceeds $1,000,0005,000,000; and (d) any payment received by a Borrower Borrowing Base Obligor for a return is promptly remitted to Agent for application to the Obligations.
Appears in 2 contracts
Samples: Loan and Security Agreement (Seneca Foods Corp), Loan and Security Agreement (Seneca Foods Corp)
Returns of Inventory. No Borrower shall return any Eligible Inventory to a supplier, vendor or other Person, whether for cash, credit or otherwise, unless (a) such return is in the Ordinary Course of Business; (b) no Default, Event of Default or Overadvance exists or would result therefrom; (c) Agent is promptly notified if the aggregate Value of all Inventory returned in any month exceeds $1,000,0003,000,000; and (d) any payment received by a Borrower for a return is promptly remitted to Agent for application to the Obligations.
Appears in 2 contracts
Samples: Credit Agreement, Credit Agreement (Calumet Specialty Products Partners, L.P.)
Returns of Inventory. No Borrower shall return any Inventory to a supplier, vendor or other Person, whether for cash, credit or otherwise, unless (a) such return is in the Ordinary Course of Business; (b) no Default, Default or Event of Default or Overadvance exists or would result therefrom; and (c) the Administrative Agent is promptly notified if the aggregate Value value of all Inventory returned in any month exceeds $1,000,000; and (d) any payment received by a Borrower for a return is promptly remitted to Agent for application to the Obligations.
Appears in 2 contracts
Samples: Credit Agreement (Purple Innovation, Inc.), Term Loan Credit Agreement (Purple Innovation, Inc.)
Returns of Inventory. No Borrower shall return any Inventory to a supplier, vendor or other Person, whether for cash, credit or otherwise, unless (a) such return is in the Ordinary Course of Business; (b) no Default, Event of Default or Overadvance exists or would result therefrom; (c) Agent is promptly notified if the aggregate Value of all Inventory returned in any month exceeds $1,000,0005,000,000; and (d) any payment received by a Borrower for a return is promptly remitted to Agent for application to the Obligations.
Appears in 2 contracts
Samples: Loan, Guaranty and Security Agreement (SMART Global Holdings, Inc.), Loan and Security Agreement (Seneca Foods Corp)
Returns of Inventory. No Borrower shall not return any Inventory to a supplier, vendor or other Person, whether for cash, credit or otherwise, unless (a) such return is in the Ordinary Course of Business; (b) no Default, Event of Default or Overadvance exists or would result therefrom; (c) Agent is promptly notified if the aggregate Value of all Inventory returned in any month (other than defective Inventory or Inventory returned by customers) exceeds $1,000,0002,500,000; and (d) any payment received by a Borrower for a return is promptly remitted to Agent for application to the Obligations.
Appears in 2 contracts
Samples: Loan and Security Agreement (Sport Chalet Inc), Loan and Security Agreement (Sport Chalet Inc)
Returns of Inventory. No Borrower shall return any Inventory to a supplier, vendor or other Person, whether for cash, credit or otherwise, unless (a) such return is in the Ordinary Course of Business; (b) no Default, Event of Default or Overadvance exists or would result therefrom; (c) the Administrative Agent is promptly notified if the aggregate Value value of all Inventory returned in any month exceeds $1,000,000250,000; and (d) any payment received by a Borrower for a return is promptly remitted to the Administrative Agent for application to the ObligationsObligations in accordance with Section 2.06(c).
Appears in 2 contracts
Samples: Credit Agreement (Lifecore Biomedical, Inc. \De\), Assignment and Assumption (Landec Corp \Ca\)
Returns of Inventory. No Borrower shall return any Inventory to a supplier, vendor or other Person, whether for cash, credit or otherwise, unless (a) such return is in the Ordinary Course of Business; (b) no Default, Event of Default or Overadvance exists or would result therefrom; (c) Agent Lender is promptly notified if the aggregate Value of all Inventory returned in any month exceeds $1,000,000250,000; and (d) any payment received by a Borrower for a return is promptly remitted to Agent Lender for application to the Obligations.
Appears in 2 contracts
Samples: Loan and Security Agreement (Orion Energy Systems, Inc.), Loan and Security Agreement (LIVE VENTURES Inc)
Returns of Inventory. No Borrower shall return any Inventory to a supplier, vendor or other Person, whether for cash, credit or otherwise, unless (a) such return is in the Ordinary Course of Business; (b) no Default, Event of Default or Overadvance exists or would result therefrom; (c) the Administrative Agent is promptly notified if the aggregate Value Dollar Equivalent value of all Inventory returned in any month exceeds $1,000,000250,000; and (d) any payment received by a Borrower for a return is promptly remitted to the Administrative Agent for application to the ObligationsObligations in accordance with Section 2.06(c).
Appears in 2 contracts
Samples: Credit Agreement (Matrix Service Co), Credit Agreement (Matrix Service Co)
Returns of Inventory. No Borrower shall return any Inventory to a supplier, vendor or other Person, whether for cash, credit or otherwise, unless (a) such return is in the Ordinary Course of Business; (b) no Default, Event of Default or Overadvance exists or would result therefrom; (c) Agent is promptly notified if the aggregate Value value of all Inventory returned in any month exceeds $1,000,00050,000; and (d) any payment received by a Borrower for a return is promptly remitted to Agent for application to the Obligations.
Appears in 2 contracts
Samples: Loan and Security Agreement (Alon USA Energy, Inc.), Loan and Security Agreement (Alon USA Energy, Inc.)
Returns of Inventory. No Borrower shall return any Inventory to a supplier, vendor or other Person, whether for cash, credit or otherwise, unless (a) such return is in the Ordinary Course of Business; (b) no Default, Event of Default or Overadvance exists or would result therefrom; (c) Agent is promptly notified if the aggregate Value of all Inventory returned in any month exceeds $1,000,000; and (d) any payment received by a Borrower for a return is promptly remitted to Agent for application to the Obligations. 8.3.3.
Appears in 2 contracts
Samples: Loan and Security Agreement (Us Concrete Inc), Loan and Security Agreement (Us Concrete Inc)
Returns of Inventory. No Borrower shall return any Inventory to a supplier, vendor or other PersonPerson (other than a Subsidiary), whether for cash, credit or otherwise, unless (a) such return is in the Ordinary Course of Business; (b) no Default, Event of Default or Overadvance exists or would result therefrom; and (c) Agent is promptly notified if the aggregate Value of all Inventory returned in any month exceeds $1,000,000; and (d) any payment received by a Borrower for a return is promptly remitted to Agent for application to the Obligations.
Appears in 2 contracts
Samples: Loan and Security Agreement (Movado Group Inc), Loan and Security Agreement (Movado Group Inc)
Returns of Inventory. No Borrower shall return any Inventory to a supplier, vendor or other Person, whether for cash, credit or otherwise, unless (a) such return is in the Ordinary Course of Business; (b) no Default, Event of Default or Overadvance exists or would result therefrom; (c) Agent is promptly notified if the aggregate Value of all Inventory returned in any month exceeds $1,000,00010,000,000; and (d) any payment received by a Borrower for a return is promptly remitted to Agent for application to the Obligations.
Appears in 2 contracts
Samples: Loan and Security Agreement (Cooper Tire & Rubber Co), Loan and Security Agreement (Cooper Tire & Rubber Co)
Returns of Inventory. No Borrower shall return any Inventory to a supplier, vendor or other Person, whether for cash, credit or otherwise, unless (a) such return is in the Ordinary Course of Business; (b) no Default, Event of Default Default, Dutch Overadvance, U.S. Overadvance or Overadvance exists or would result therefrom; (c) Agent is promptly notified if the aggregate Value of all Inventory returned in any month exceeds $1,000,000; and (d) any payment received by a Borrower for a return is promptly remitted to Agent for application to the Obligations.
Appears in 2 contracts
Samples: Loan and Security Agreement (Super Micro Computer, Inc.), Loan and Security Agreement (Super Micro Computer, Inc.)
Returns of Inventory. No Borrower shall return any Inventory to a supplier, vendor or other Person, whether for cash, credit or otherwise, unless (a) such return is in the Ordinary Course ordinary course of Businessbusiness; (b) no Default, Event of Default or Overadvance exists or would result therefrom; (c) Agent Lender is promptly notified if of the aggregate Value of all Inventory returned in any month exceeds $1,000,000each month; and (d) any payment received by a Borrower Borrowers for a return is promptly remitted to Agent Lender for application to the Obligations.
Appears in 2 contracts
Samples: Loan and Security Agreement (Xplore Technologies Corp), Loan and Security Agreement (Wireless Telecom Group Inc)
Returns of Inventory. No Borrower shall return any Inventory to a supplier, vendor or other Person, whether for cash, credit or otherwise, unless (a) such return is in the Ordinary Course of Business; (b) no Default, Event of Default or Overadvance exists or would result therefrom; (c) Agent is promptly notified if the aggregate Value of all Inventory returned in any month exceeds $1,000,0002,000,000; and (d) any payment received by a Borrower for a return is promptly remitted to Agent for application to the Obligations.
Appears in 2 contracts
Samples: Loan and Security Agreement (Boise Cascade Holdings, L.L.C.), Loan and Security Agreement (Boise Cascade Holdings, L.L.C.)
Returns of Inventory. No Borrower shall return any Inventory to a supplier, vendor or other Person, whether for cash, credit or otherwise, unless (a) such return is in the Ordinary Course of Business; (b) no Default, Event of Default or Overadvance exists or would result therefrom; and (c) the Administrative Agent is promptly notified if the aggregate Value value of all Inventory returned in any month exceeds $1,000,000; and (d) any payment received by a Borrower for a return is promptly remitted to Agent for application to the Obligations.
Appears in 1 contract
Returns of Inventory. No Borrower shall return any Inventory to a supplier, vendor or other Person, whether for cash, credit or otherwise, unless (a) such return is in the Ordinary Course of Business; (b) no Default, Event of Default Default, Dutch Overadvance, U.S. Overadvance or Overadvance exists or would result therefrom; (c) Agent is promptly notified if the aggregate Value of all Inventory returned in any month exceeds $1,000,000; and (d) any payment received by a Borrower for a return is promptly remitted to Agent for application to the Obligations.. 8.3.3
Appears in 1 contract
Samples: Loan and Security Agreement (Super Micro Computer, Inc.)
Returns of Inventory. No Borrower shall return any Inventory to a supplier, vendor or other Person, whether for cash, credit or otherwise, unless (a) such return is in the Ordinary Course of Business; (b) no Default, Event of Default or Overadvance exists or would result therefrom; (c) Agent is promptly notified if the aggregate Value value of all Inventory returned in any a particular calendar month exceeds $1,000,000150,000; and (d) any payment received by a Borrower for a return is promptly remitted to Agent for application to the Obligations.
Appears in 1 contract
Samples: Credit and Security Agreement (Katy Industries Inc)
Returns of Inventory. No Borrower shall not return any Inventory to a supplier, vendor or other Person, whether for cash, credit or otherwise, unless (a) such return is in the Ordinary Course of Business; (b) no Default, Event of Default or Overadvance exists or would result therefrom; (c) Agent Lender is promptly notified if the aggregate Value of all Inventory returned in any month exceeds $1,000,000100,000; and (d) any payment received by a Borrower for a return is promptly remitted to Agent Lender for application to the Obligations.. LOAN AND SECURITY AGREEMENT -
Appears in 1 contract
Samples: Loan and Security Agreement (Lapolla Industries Inc)
Returns of Inventory. No Borrower shall return any Inventory to a supplier, vendor or other Person, whether for cash, credit or otherwise, unless (a) such return is in the Ordinary Course of Business; (b) no Default, Event of Default or Overadvance exists or would result therefrom; (c) Agent is promptly notified if the aggregate Value of all Inventory returned in any month exceeds $1,000,0005,000,000; and (d) any payment received by a Borrower for a return is promptly remitted to Agent for application to the Obligations. 8.3.3.
Appears in 1 contract
Returns of Inventory. No Borrower shall not return any Inventory to a supplier, vendor or other Person, whether for cash, credit or otherwise, unless (a) such return is in the Ordinary Course ordinary course of Businessbusiness; (b) no Default, Event of Default or Overadvance exists or would result therefrom; (c) Agent Lender is promptly notified if the aggregate Value of all Inventory returned in any month exceeds $1,000,000200,000; and (d) any payment received by a the Borrower for a return is promptly remitted to Agent Lender for application to the Obligations.
Appears in 1 contract
Samples: Loan Agreement (Ashworth Inc)
Returns of Inventory. No The Borrower shall not return any Inventory to a supplier, vendor or other Person, whether for cash, credit or otherwise, unless (a) such return is in the Ordinary Course of Business; (b) no Default, Event of Default or Overadvance exists or would result therefrom; and (c) Agent the Lender is promptly notified if the aggregate Value value of all Inventory returned in any month exceeds $1,000,000; and (d) any payment received by a Borrower for a return is promptly remitted to Agent for application to the Obligations100,000.
Appears in 1 contract
Returns of Inventory. No Borrower shall return any Inventory to a supplier, vendor or other Person, whether for cash, credit or otherwise, unless (ai) such return is in the Ordinary Course of Business; (bii) no Default, Event of Default or Overadvance Out of Formula Condition exists or would result therefrom; (ciii) Agent is promptly notified if the aggregate Value of all Inventory returned in any month exceeds $1,000,000; and (div) any payment received by a Borrower for a return is promptly remitted to Agent for application to the Obligations.
Appears in 1 contract
Returns of Inventory. No Borrower shall return any Inventory to a supplier, vendor or other Person, whether for cash, credit or otherwise, unless (aA) such return is in the Ordinary Course of Business; (bB) no Default, Event of Default or Overadvance exists or would result therefrom; (cC) Agent the Lender is promptly notified if the aggregate Value value of all Inventory returned in any month exceeds $1,000,000500,000; and (dD) any payment received by a Borrower for a return is promptly remitted to Agent the Lender for application to the Obligations.
Appears in 1 contract
Returns of Inventory. No Borrower shall return any Inventory to a supplier, vendor or other Person, whether for cash, credit or otherwise, unless (a) such return is in the Ordinary Course of Business; (b) no Default, Event of Default or Overadvance exists or would result therefrom; (c) Agent the Lender is promptly notified if the aggregate Value value of all Inventory returned in any month exceeds $1,000,000500,000; and (d) any payment in excess of $500,000 received by a Borrower for a return is promptly remitted to Agent the Lender for application to the Obligations.
Appears in 1 contract
Samples: Credit and Security Agreement (FreightCar America, Inc.)
Returns of Inventory. No Borrower shall return any Inventory to a supplier, vendor or other Person, whether for cash, credit or otherwise, unless (a) such return is in the Ordinary Course of Business; (b) no Default, Event of Default or Overadvance exists or would result therefrom; and (c) Agent Lender is promptly notified if the aggregate Value of all Eligible Inventory returned in any month since the delivery of the last Borrowing Base Certificate exceeds $1,000,000; and (d) any payment received by a Borrower for a return is promptly remitted to Agent for application to the Obligations25,000.
Appears in 1 contract
Returns of Inventory. No Borrower shall return any Inventory to a supplier, vendor or other Person, whether for cash, credit or otherwise, unless (a) such return is in the Ordinary Course of Business; (b) no Default, Event of Default or Overadvance exists or would result therefrom; (c) Agent Lender is promptly notified if the aggregate Value of all Inventory returned in any month exceeds $1,000,000100,000.00; and (d) during any Trigger Period, any payment received by a Borrower for a return is promptly remitted to Agent Lender for application to the Obligations.
Appears in 1 contract
Returns of Inventory. No Borrower shall return any Inventory to a supplier, vendor or other Person, whether for cash, credit or otherwise, unless (a) such return is in the Ordinary Course of Business; (b) no Default, Event of Default or Overadvance exists or would result therefrom; therefrom and (c) Agent is promptly notified if the aggregate Value of all Inventory returned in any month exceeds $1,000,000; and (d) any payment received by a Borrower for a return is promptly remitted to Agent for application to the Obligations250,000.
Appears in 1 contract
Samples: First Lien Loan and Security Agreement (Duckhorn Portfolio, Inc.)
Returns of Inventory. No Borrower shall return any Inventory to a supplier, vendor or other Person, whether for cash, credit or otherwise, unless (a) such return is in the Ordinary Course ordinary course of Businessbusiness; (b) no Default, Event of Default or Overadvance exists or would result therefrom; (c) Agent Lender is promptly notified if the aggregate Value of all Inventory returned in any month exceeds $1,000,000200,000; and (d) any payment received by a Borrower for a return is promptly remitted to Agent Lender for application to the Obligations.
Appears in 1 contract
Returns of Inventory. No Borrower shall return any Inventory to a supplier, vendor or other Person, whether for cash, credit or otherwise, unless (a) such return is in the Ordinary Course of Business; (b) no Default, Event of Default or Overadvance exists or would result therefrom; (c) Agent the Lender is promptly notified if the aggregate Value value of all Inventory returned in any a particular calendar month exceeds $1,000,000150,000; and (d) any payment received by a Borrower for a return is promptly remitted to Agent the Lender for application to the Obligations.
Appears in 1 contract
Samples: Credit and Security Agreement (Katy Industries Inc)
Returns of Inventory. No Borrower shall return any Inventory to a supplier, vendor or other Person, whether for cash, credit or otherwise, unless (a) such return is in the Ordinary Course of Business; (b) no Default, Event of Default or Overadvance exists or would result therefrom; (c) Agent is promptly notified if the aggregate Value of all Inventory returned in any month exceeds $1,000,00010,000,000; and (d) during a Dominion Trigger Period, any payment received by a Borrower for a return is promptly remitted to Agent for application to the Obligations.
Appears in 1 contract
Returns of Inventory. No During Inventory Borrowing Period, no Borrower shall return any Inventory to a supplier, vendor or other Person, whether for cash, credit or otherwise, unless (a) such return is in the Ordinary Course of Business; (b) no Default, Event of Default or Overadvance exists or would result therefrom; (c) Agent is promptly notified if the aggregate Value of all Inventory returned in any month exceeds $1,000,000100,000; and (d) any payment received by a Borrower for a return is promptly remitted to Agent for application to the Obligations.
Appears in 1 contract
Returns of Inventory. No Borrower shall not return any Inventory to a supplier, vendor or other Person, whether for cash, credit or otherwise, unless (a) such return is in the Ordinary Course of Business; (b) no Default, Event of Default or Overadvance exists or would result therefrom; (c) Agent Lender is promptly notified if the aggregate Value of all Inventory returned in any month exceeds $1,000,000100,000; and (d) any payment received by a Borrower for a return is promptly remitted to Agent Lender for application to the Obligations.
Appears in 1 contract
Samples: Loan and Security Agreement (Lapolla Industries Inc)
Returns of Inventory. No Borrower shall return any Inventory to a supplier, vendor or other Person, whether for cash, credit or otherwise, unless (a) such return is in the Ordinary Course of Business; (b) no Default, Event of Default or Overadvance exists or would result therefrom; and (c) Agent is promptly notified if the aggregate Value of all Inventory returned in any month exceeds $1,000,000; and (d) any payment received by a Borrower for a return is promptly remitted to Agent for application to the Obligations2,000,000.
Appears in 1 contract
Samples: Loan and Security Agreement (Imperial Sugar Co /New/)
Returns of Inventory. No Borrower shall return any Inventory to a supplier, vendor or other Person, whether for cash, credit or otherwise, unless (a) such return is in the Ordinary Course ordinary course of Businessbusiness; (b) no Default, Event of Default or Overadvance exists or would result therefrom; (c) Agent is Collateral Agents are promptly notified if the aggregate Value of all Inventory returned in any month exceeds $1,000,00010,000,000; and (d) any payment received by a Borrower for a return is promptly remitted to Agent for application to the Obligations.
Appears in 1 contract
Samples: Loan Agreement (Solo Cup CO)
Returns of Inventory. No Borrower shall not return any Inventory to a supplier, vendor or other Person, whether for cash, credit or otherwise, unless (a) such return is in the Ordinary Course of Business; and (b) no Default, Event of Default or Overadvance exists or would result therefrom; (c) Agent is promptly notified if the aggregate Value of all Inventory returned in any month exceeds $1,000,000; and (d) any payment received by a Borrower for a return is promptly remitted to Agent for application to the Obligations.
Appears in 1 contract
Returns of Inventory. No Borrower shall return any Inventory to a supplier, vendor or other Person, whether for cash, credit or otherwise, unless (ai) such return is in the Ordinary Course of Business; (bii) no Default, Event of Default or Overadvance Out of Formula Condition exists or would result therefrom; (ciii) Agent is promptly notified if the aggregate Value of all Inventory returned in any month exceeds $1,000,0001,500,000; and (div) any payment received by a Borrower for a return is promptly remitted to Agent for application to the Obligations.
Appears in 1 contract
Returns of Inventory. No Borrower shall not return any Inventory to a supplier, vendor or other Person, whether for cash, credit or otherwise, unless (a) such return is in the Ordinary Course of Business; (b) no Default, Event of Default or Overadvance exists or would result therefrom; (c) Agent is promptly notified if the aggregate Value of all Inventory returned in any month exceeds $1,000,000100,000; and (d) any payment received by a Borrower for a return is promptly remitted to Agent for application to the Obligations.
Appears in 1 contract
Samples: Loan and Security Agreement (Hines Horticulture Inc)
Returns of Inventory. No Borrower shall not return any Inventory to a supplier, vendor or other Person, whether for cash, credit or otherwise, unless (a) such return is in the Ordinary Course of Business; (b) no Default, Event Agent is promptly notified if the aggregate Value of Default or Overadvance exists or would result therefromall Eligible Inventory from any single supplier returned in any month exceeds $1,000,000; and (c) Agent is promptly notified if the aggregate Value of all Inventory returned in any month exceeds (x) $1,000,000; and 4,000,000 or (dy) any payment received by during the existence of a Borrower for a return is promptly remitted to Agent for application to the ObligationsDefault or Event of Default, $2,000,000.
Appears in 1 contract
Samples: Loan and Security Agreement (Leapfrog Enterprises Inc)
Returns of Inventory. No Borrower shall return any Inventory to a supplier, vendor or other Person, whether for cash, credit or otherwise, unless (a) such return is in the Ordinary Course of BusinessBusiness (including the right of customers to return inventory which is defective or nonconforming); (b) no Default, Event of Default or Overadvance exists or would result therefromthere from; (c) Agent is promptly notified if the aggregate Value of all Inventory returned in any month exceeds $1,000,000250,000; and (d) any payment received by a Borrower for a return is promptly remitted to Agent for application to the Obligations.
Appears in 1 contract
