SALE OF ACCOUNTS; NO CONSIGNMENT Sample Clauses

SALE OF ACCOUNTS; NO CONSIGNMENT. The Company shall not sell, assign, or encumber, except to the Administrative Agent for the ratable benefit of the Banks and to Banc One Leasing Corporation, any of its accounts or notes receivable. The Company shall not permit any of its inventory to be sold or transferred on consignment or acquire or possess any of its inventory on consignment.
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SALE OF ACCOUNTS; NO CONSIGNMENT. Except as outlined in subsection 5.3, said Company shall not sell, assign, or encumber, except to the Bank, any of its Accounts or notes receivable. Said Company shall not permit any of its Inventory to be sold or transferred on consignment or acquire or possess any of its Inventory on consignment.
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SALE OF ACCOUNTS; NO CONSIGNMENT. The Borrower shall not sell, assign, or encumber, except to the Bank, any of its Accounts or notes receivable and shall not permit any of its Inventory to be sold or transferred on consignment or acquire or possess any of its Inventory on consignment.
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SALE OF ACCOUNTS; NO CONSIGNMENT. The Borrower shall not sell, assign, or encumber, except to the Huntington, any of its Accounts or notes receivable. The Borrower shall not acquire or possess any of its Property or Inventory on consignment.
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SALE OF ACCOUNTS; NO CONSIGNMENT. No Subsidiary will sell, assign, or encumber, except to the Administrative Agent for the ratable benefit of the Banks, any of its accounts or notes receivable. No Subsidiary will permit any of its inventory to be sold or transferred on consignment or acquire or possess any of its inventory on consignment. This Section 4.22(g) shall not apply to Meta Holdings, LLC and/or Meta Management, LLC to the extent that compliance with the terms hereof would cause Meta Holdings, LLC and/or to Meta Management, LLC to default under any agreements executed by either or both of them in connection with the $19,000,000.00 term credit facility identified in SCHEDULE 4.5 attached hereto.
Sample 1
SALE OF ACCOUNTS; NO CONSIGNMENT. The Borrower shall not sell, assign, or encumber, except to the Bank, any of its Accounts or notes receivable and shall not permit any of its Inventory to be sold or transferred on consignment except to the extent of the aggregate sum of up to $100,000.00 of inventory at any one time or from time to time on consignment in California and Michigan. In addition, except in connection with acquisitions of existing inventory of purchased retail locations, the Borrower will not acquire or possess any inventory on consignment.
Sample 1
SALE OF ACCOUNTS; NO CONSIGNMENT. The Companies shall not sell, assign, or encumber, except to the Bank and to Transport Clearings East, Inc. in respect of the accounts of Xxx Xxxxxx Transportation Corporation, Inc., Advanced Distribution System, Inc., Roadrunner Trucking, Inc. and Roadrunner Distribution Services, Inc. pursuant to certain Intercreditor Agreements between the Bank and Transport Clearings East, Inc. and other agreements satisfactory to the Bank in its sole discretion, any of their Accounts or notes receivable. The Companies shall use their best efforts to discontinue as soon as practicable their practice of selling or assigning accounts to Transport Clearings East, Inc., as permitted by this paragraph. The Companies shall not permit any of their Inventory to be sold or transferred on consignment or acquire or possess any of their Inventory on consignment.
Sample 1
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Related to SALE OF ACCOUNTS; NO CONSIGNMENT

  • Sale of Accounts The Borrower will not, nor will it permit any Subsidiary to, sell or otherwise dispose of any notes receivable or accounts receivable, with or without recourse.

  • Collection of Accounts Receivable (a) At the Closing, Sellers' Agents shall designate Purchaser as its agent solely for the purposes of collecting the MMP Accounts Receivable. Purchaser will collect the MMP Accounts Receivable during the period beginning on the Closing Date and ending on the 180th day after the Closing Date (the "Collection Period") with the same care and diligence Purchaser uses with respect to its own accounts receivable and hold all such MMP Accounts Receivable in trust for Sellers until remitted by Purchaser to the Indemnification Escrow Agent or the Collections Account pursuant hereto. Purchaser shall not make any referral or compromise of any of the MMP Accounts Receivable to a collection agency or attorney for collection and shall not settle or adjust the amount of any of the MMP Accounts Receivable without the written approval of Sellers' Agent. If, during the Collection Period, Purchaser receives monies from an account debtor of Purchaser that is also an account debtor of MMP with respect to any MMP Accounts Receivable, Purchaser shall credit the sums received to the oldest account due, except where an account is disputed by the account debtor as properly due, and the account debtor has so notified Purchaser in writing, in which case, payments received shall be applied in accordance with the account debtor's instructions; provided that upon resolution of such dispute if any amounts in dispute are received by Purchaser, Purchaser shall remit such amounts to the Indemnification Escrow Agent in accordance with the Indemnification Escrow Agreement up to the amount of the Additional Indemnification Amount Deposit and, thereafter, to the Collections Account.

  • Direct Consignment A good will retain its originating status as determined under Article 2 (Originating Goods) if the following conditions have been met:

  • Sale of Collateral Secured Party may sell any or all of the Collateral at public or private sale, upon such terms and conditions as Secured Party may deem proper, and Secured Party may purchase any or all of the Collateral at any such sale. Grantor acknowledges that Secured Party may be unable to effect a public sale of all or any portion of the Collateral because of certain legal and/or practical restrictions and provisions which may be applicable to the Collateral and, therefore, may be compelled to resort to one or more private sales to a restricted group of offerees and purchasers. Grantor consents to any such private sale so made even though at places and upon terms less favorable than if the Collateral were sold at public sale. Secured Party shall have no obligation to clean-up or otherwise prepare the Collateral for sale. Secured Party may apply the net proceeds, after deducting all costs, expenses, attorneys' and paralegals' fees incurred or paid at any time in the collection, protection and sale of the Collateral and the Obligations, to the payment of the Obligations, returning the excess proceeds, if any, to Grantor. Grantor shall remain liable for any amount remaining unpaid after such application, with interest at the Default Rate. Any notification of intended disposition of the Collateral required by law shall be conclusively deemed reasonably and properly given if given by Secured Party at least ten (10) calendar days before the date of such disposition. Grantor hereby confirms, approves and ratifies all acts and deeds of Secured Party relating to the foregoing, and each part thereof, and expressly waives any and all claims of any nature, kind or description which it has or may hereafter have against Secured Party or its representatives, by reason of taking, selling or collecting any portion of the Collateral other than in the event of any intentional misconduct or gross negligence. Grantor consents to releases of the Collateral at any time (including prior to default) and to sales of the Collateral in groups, parcels or portions, or as an entirety, as Secured Party shall deem appropriate. Grantor expressly absolves Secured Party from any loss or decline in market value of any Collateral by reason of delay in the enforcement or assertion or non-enforcement of any rights or remedies under this Security Agreement.

  • Accounts Receivable; Accounts Payable All accounts receivable of Emergent and its Subsidiaries reflected in the Interim Financial Statements and all accounts receivable that are reflected on the books of Emergent and its Subsidiaries as of the Closing Date (net of allowances for doubtful accounts as reflected thereon and as determined in accordance with GAAP) are obligations arising from sales actually made or services actually performed in the Ordinary Course of Business arising in connection with bona fide arm’s length transactions with Persons who are not Affiliates of Emergent or any of its Subsidiaries, constitute valid undisputed claims and are not, by their terms, subject to defenses, set-offs or counterclaims. Neither Emergent nor any of its Subsidiaries has received written notice from or on behalf of any obligor of any such accounts receivable that such obligor is unwilling or unable to pay a material portion of such accounts receivable. All accounts payable and notes payable of Emergent and its Subsidiaries arose in bona fide arm’s length transactions in the Ordinary Course of Business and with Persons who are not Affiliates of Emergent or any of its Subsidiaries, and no such account payable or note payable is materially delinquent in its payment.

  • Consignment The Artist hereby consigns to The Gallery, and The Gallery accepts on consignment, those Artworks listed on the attached Inventory Sheet which is a part of this Agreement. Additional Inventory Sheets may be incorporated into this Agreement at such time as both parties agree to the consignment of other works of art. All Inventory Sheets shall be signed by Artist and Gallery.

  • Collection of Accounts, General Intangibles and Negotiable Collateral At any time upon the occurrence and during the continuance of an Event of Default, Agent or Agent’s designee may (a) notify Account Debtors of any Grantor that the Accounts, General Intangibles, Chattel Paper or Negotiable Collateral of such Grantor have been assigned to Agent, for the benefit of the Lender Group and the Bank Product Providers, or that Agent has a security interest therein, and (b) collect the Accounts, General Intangibles and Negotiable Collateral of any Grantor directly, and any collection costs and expenses shall constitute part of such Grantor’s Secured Obligations under the Loan Documents.

  • Collection of Accounts 43 5.4 Payments ............................................................................. 44 5.5 Authorization to Make Loans .......................................................... 44 5.6

  • Accounts Receivable All accounts receivable of the Acquired Companies that are reflected on the Balance Sheet or the Interim Balance Sheet or on the accounting records of the Acquired Companies as of the Closing Date (collectively, the "Accounts Receivable") represent or will represent valid obligations arising from sales actually made or services actually performed in the Ordinary Course of Business. Unless paid prior to the Closing Date, the Accounts Receivable are or will be as of the Closing Date current and collectible net of the respective reserves shown on the Balance Sheet or the Interim Balance Sheet or on the accounting records of the Acquired Companies as of the Closing Date (which reserves are adequate and calculated consistent with past practice and, in the case of the reserve as of the Closing Date, will not represent a greater percentage of the Accounts Receivable as of the Closing Date than the reserve reflected in the Interim Balance Sheet represented of the Accounts Receivable reflected therein and will not represent a material adverse change in the composition of such Accounts Receivable in terms of aging). Subject to such reserves, each of the Accounts Receivable either has been or will be collected in full, without any set-off, within ninety days after the day on which it first becomes due and payable. There is no contest, claim, or right of set-off, other than returns in the Ordinary Course of Business, under any Contract with any obligor of an Accounts Receivable relating to the amount or validity of such Accounts Receivable. Part 3.8 of the Disclosure Letter contains a complete and accurate list of all Accounts Receivable as of the date of the Interim Balance Sheet, which list sets forth the aging of such Accounts Receivable.

  • Consignments Consign any of its or their Inventory or sell any of its or their Inventory on xxxx and hold, sale or return, sale on approval, or other conditional terms of sale.

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