Common use of Sale or Discount of Receivables Clause in Contracts

Sale or Discount of Receivables. The Borrower will not, and will not permit any of its Subsidiaries to, directly or indirectly, sell with recourse, or discount or otherwise sell for less than the face value thereof, any of its notes or accounts receivable, other than in the ordinary course of business and consistent with past and existing business practices.

Appears in 15 contracts

Samples: Senior Unsecured Credit Agreement (LaSalle Hotel Properties), Senior Unsecured Term Loan Agreement (LaSalle Hotel Properties), Senior Unsecured Term Loan Agreement (LaSalle Hotel Properties)

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Sale or Discount of Receivables. The Borrower will not, and will not permit any of its Subsidiaries to, directly or indirectly, sell with recourse, or discount or otherwise sell for less than the face value thereof, any of its notes or accounts receivable, other than in the ordinary course of business and consistent with past and existing business practices.

Appears in 11 contracts

Samples: Senior Unsecured Credit Agreement (Lasalle Hotel Properties), Secured Credit Agreement (Interstate Hotels & Resorts Inc), Senior Credit Agreement (Eagle Hospitality Properties Trust, Inc.)

Sale or Discount of Receivables. The Borrower will not, and not nor will not it cause or permit any of its Subsidiaries to, directly or indirectly, Subsidiary to sell with recourse, or discount or otherwise sell for less than the face value thereof, any of its notes or accounts receivable, other than in the ordinary course of business and consistent with past and existing business practices.

Appears in 7 contracts

Samples: Credit Agreement (InfraREIT, Inc.), Collateral Agency Agreement (InfraREIT, Inc.), Term Loan Credit Agreement (InfraREIT, Inc.)

Sale or Discount of Receivables. The Borrower will not, and ------------------------------- will not permit any of its Subsidiaries to, directly or indirectly, sell with recourse, or discount or otherwise sell for less than the face value thereof, any of its notes or accounts receivable, other than in the ordinary course of business and consistent with past and existing business practices.

Appears in 7 contracts

Samples: Credit Agreement (Lasalle Hotel Properties), Credit Agreement (Meristar Hospitality Corp), Credit Agreement (American General Hospitality Corp)

Sale or Discount of Receivables. The Each Borrower will shall not, and will shall not permit any of its Subsidiaries to, directly or indirectly, sell with recourse, or discount or otherwise sell for less than the face value thereof, any of its notes or accounts receivable, other than in the ordinary course of business and consistent with past and existing business practices.

Appears in 5 contracts

Samples: Credit Agreement (Hines Horticulture Inc), Credit Agreement (Hines Holdings Inc), Credit Agreement (Hines Horticulture Inc)

Sale or Discount of Receivables. The Borrower will not, not and will not permit any of its Subsidiaries to, directly or indirectly, Subsidiary to sell with recourse, or discount or otherwise sell for less than the face value thereof, any of its notes or accounts receivable, other than in the ordinary course of business and consistent with past and existing business practices.

Appears in 5 contracts

Samples: Assignment and Assumption (Saia Inc), Guaranty Agreement (SCS Transportation Inc), Credit Agreement (Saia Inc)

Sale or Discount of Receivables. The Borrower will shall not, and will shall not permit any of its Restricted Subsidiaries to, directly or indirectly, sell with recourse, or discount (except discounts with the primary obligor of any accounts receivable) or otherwise sell for less than the face value thereof, any of its notes or accounts receivable, other than in the ordinary course of business and consistent with past and existing business practices.

Appears in 5 contracts

Samples: Credit Agreement (Isle of Capri Casinos Inc), Security Agreement (Isle of Capri Casinos Inc), Credit Agreement (Isle of Capri Casinos Inc)

Sale or Discount of Receivables. The Borrower will Borrowers shall not, and will shall not permit any of its their Subsidiaries to, directly or indirectly, sell with recourse, or discount or otherwise sell for less than the face value thereof, any of its notes or accounts receivable, receivable other than an assignment for purposes of collection in the ordinary course of business and consistent with past and existing business practicesbusiness.

Appears in 4 contracts

Samples: Credit Agreement (Las Vegas Sands Inc), Credit Agreement (Grand Canal Shops Mall Construction LLC), Credit Agreement (Las Vegas Sands Inc)

Sale or Discount of Receivables. The Borrower will Borrowers shall not, and will shall not permit any of its their Restricted Subsidiaries to, directly or indirectly, sell with recourse, or discount or otherwise sell for less than the face value thereof, any of its notes or accounts receivable, receivable other than an assignment for purposes of collection in the ordinary course of business and consistent with past and existing business practicesbusiness.

Appears in 4 contracts

Samples: Credit Agreement (Las Vegas Sands Corp), Credit Agreement (Las Vegas Sands Corp), Credit Agreement (Las Vegas Sands Inc)

Sale or Discount of Receivables. The Borrower will shall not, and will shall not permit any of its Subsidiaries to, directly or indirectly, sell with recourse, or discount or otherwise sell for less than the face value thereof, any of its notes or accounts receivable, other than in the ordinary course of business and consistent with past and existing business practices.

Appears in 3 contracts

Samples: Credit Agreement (Pantry Inc), Credit Agreement (Pantry Inc), Credit Agreement (Fibernet Telecom Group Inc\)

Sale or Discount of Receivables. The Borrower will not, and will not permit any of its Subsidiaries Subsidiary to, directly or indirectly, sell sell, with or without recourse, or discount (other than in connection with trade discounts in the ordinary course of business consistent with past practice) or otherwise sell or transfer for less than the face value thereof, any of its notes or accounts receivable, other than in the ordinary course of business and consistent with past and existing business practices.

Appears in 3 contracts

Samples: Credit Agreement (Constar International Inc), Credit Agreement (Constar Inc), Credit Agreement (Constar International Inc)

Sale or Discount of Receivables. The Borrower will not, and nor will not permit Borrower allow any of its Subsidiaries to, directly discount or indirectly, sell with recourse, or discount or otherwise sell for less than the greater of the face or market value thereof, any of its notes receivable or accounts receivable, other than in the ordinary course of business and consistent with past and existing business practices.

Appears in 3 contracts

Samples: Credit Agreement (Range Resources Corp), Credit Agreement (Range Resources Corp), Credit Agreement (Range Resources Corp)

Sale or Discount of Receivables. The Borrower will shall not, and will shall not permit any of its Subsidiaries to, directly or indirectly, sell with recourse, or discount or otherwise sell for less than the face value thereof, any of its notes or accounts receivable, other than in the ordinary course of business and consistent with past and existing business practices.

Appears in 2 contracts

Samples: Credit Agreement (Viasource Communications Inc), Credit Agreement (Viasource Communications Inc)

Sale or Discount of Receivables. The Borrower will not, and nor will not it permit any of its Subsidiaries to, directly discount or indirectly, sell with recourse, or discount or otherwise sell for less than the greater of the face value or Fair Market Value thereof, any of its notes receivable or accounts receivable, other than in the ordinary course of business and consistent with past and existing business practices.

Appears in 2 contracts

Samples: Credit Agreement (Genencor International Inc), Credit Agreement (Genencor International Inc)

Sale or Discount of Receivables. The Borrower will Borrowers shall not, and will shall not permit any of its their Subsidiaries to, directly or indirectly, sell with recourse, or discount or otherwise sell for less than the face value thereof, any of its notes or accounts receivable, receivable other than an assignment for purposes of collection in the ordinary course of business and consistent with past and existing business practicesbusiness.

Appears in 2 contracts

Samples: Construction Loan Agreement (Las Vegas Sands Inc), Construction Loan Agreement (Las Vegas Sands Corp)

Sale or Discount of Receivables. The Borrower will not, and nor will not it permit any of its Subsidiaries to, directly sell, with or indirectly, sell with without recourse, or discount (other than in connection with trade discounts or arrangements necessitated by the creditworthiness of the other party, in each case in the ordinary course of business consistent with past practice) or otherwise sell for less than the face value thereof, any of its notes receivable or accounts receivable, other than in the ordinary course of business and consistent with past and existing business practicesreceivable owed to it by its third party customers or suppliers.

Appears in 2 contracts

Samples: Securities Pledge Agreement (Carson Inc), Securities Pledge Agreement (Carson Inc)

Sale or Discount of Receivables. The Borrower will shall not, and will shall not permit any of its Subsidiaries to, directly or indirectly, sell with recourse, or discount or otherwise sell for less than the face value thereof, any of its notes or accounts receivable, other than in the ordinary course except neither Borrower nor any of business and consistent with past and existing business practicesits Subsidiaries shall be precluded from compromising disputed or potentially uncollectible notes or accounts receivable.

Appears in 1 contract

Samples: Credit Agreement (Red Robin Gourmet Burgers Inc)

Sale or Discount of Receivables. The Borrower will Borrowers shall not, and will shall not permit any of its their Subsidiaries to, directly or indirectly, sell with recourse, or discount or otherwise sell for less than the face value thereof, any of its their notes or accounts receivable, other than in the ordinary course of business and consistent with past and existing business practices.

Appears in 1 contract

Samples: Possession Credit Agreement (Fruehauf Trailer Corp)

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Sale or Discount of Receivables. The Borrower will not, and nor will not it permit any of its Subsidiaries to, directly sell, with or indirectly, sell with without recourse, or discount (other than in connection with trade discounts in the ordinary course of business consistent with past practice) or otherwise sell for less than the face value thereof, any of its notes or accounts receivable, other than in the ordinary course of business and consistent with past and existing business practices.

Appears in 1 contract

Samples: Revolving Credit Agreement (Urohealth Systems Inc)

Sale or Discount of Receivables. The Borrower will shall not, and will shall not permit any of its Subsidiaries to, directly or indirectly, sell with recourse, or discount or otherwise sell for less than the face value thereof, any of its notes or accounts receivable, other than in the ordinary course of business and consistent with past and existing business practices.. 120

Appears in 1 contract

Samples: Credit Agreement (Central Garden & Pet Company)

Sale or Discount of Receivables. The Borrower will not, and will not permit any of its Subsidiaries to, directly sell, with or indirectly, sell with without recourse, or discount (other than in connection with trade discounts in the ordinary course of business consistent with past practice) or otherwise sell for less than the face value thereof, any of its notes or accounts receivable, other than in the ordinary course of business and consistent with past and existing business practices.

Appears in 1 contract

Samples: Credit Agreement (Wheels Sports Group Inc)

Sale or Discount of Receivables. The Borrower will not, and will shall not permit any of its Subsidiaries to, directly or indirectly, sell with recourse, or discount or otherwise sell for less than the face value thereof, any of its notes or accounts receivable, other than in the ordinary course of business and consistent with past and existing business practices.

Appears in 1 contract

Samples: Business Loan Agreement (Mobility Electronics Inc)

Sale or Discount of Receivables. The Borrower will not, and will not permit any of its Subsidiaries to, directly or indirectly, sell with recourse, or discount or otherwise sell for less than the face value thereof, any of its notes or accounts receivable, other than receivable except in the ordinary course connection with sale of business and consistent with past and existing business practicesan Owned Hospitality Property.

Appears in 1 contract

Samples: Senior Secured Credit Agreement (Interstate Hotels & Resorts Inc)

Sale or Discount of Receivables. The Each Borrower will shall not, and will shall not permit any of its respective Subsidiaries to, directly or indirectly, sell with recourse, or discount or otherwise sell for less than the face value thereof, any of its notes or accounts receivable, other than in the ordinary course of business and consistent with past and existing business practices.

Appears in 1 contract

Samples: Credit Agreement (Silver Cinemas International Inc)

Sale or Discount of Receivables. The Borrower will shall not, and will shall not permit any of its Subsidiaries to, directly or indirectly, sell with recourse, or discount or otherwise sell for less than the face value thereof, any of its notes or accounts receivable, receivable other than an assignment for purposes of collection in the ordinary course of business and consistent with past and existing business practicesbusiness.

Appears in 1 contract

Samples: Credit Agreement (Las Vegas Sands Inc)

Sale or Discount of Receivables. The Each Borrower will not, and will not permit any of its Subsidiaries to, directly or indirectly, (i) sell with recourse, or discount or otherwise sell for less than the face value thereof, any of its notes or accounts receivablereceivable or (ii) sell, assign, pledge, hypothecate, transfer or otherwise dispose of any of their rights and claims to the payment or receipt of money or other forms of consideration of any kind other than in pursuant to the ordinary course of business and consistent with past and existing business practicesLoan Documents.

Appears in 1 contract

Samples: Credit Agreement (Mac Frugals Bargains Close Outs Inc)

Sale or Discount of Receivables. The Borrower will shall not, and will shall not permit any of its Subsidiaries to, directly or indirectly, sell with recourse, or discount or otherwise sell for less than the face value thereof, any of its notes or accounts receivable, other than in the ordinary course of business and consistent with except for past and existing business practicesdue accounts sold to collection agencies.

Appears in 1 contract

Samples: Credit Agreement (Oakley Inc)

Sale or Discount of Receivables. The Borrower will not, and will not permit any of its Subsidiaries to, directly or indirectly, sell with recourse, or discount or otherwise sell for less than the face book value thereof, any of its notes or accounts receivable, other than receivable except in the ordinary course connection with sale of business and consistent with past and existing business practicesan Owned Hospitality Property.

Appears in 1 contract

Samples: Senior Secured Credit Agreement (Interstate Hotels & Resorts Inc)

Sale or Discount of Receivables. The Borrower will Borrowers shall not, and will shall not permit any of its their Restricted Subsidiaries to, directly or indirectly, sell with recourse, or discount or otherwise sell for less than the face value thereof, any of its their notes or accounts receivable, other than in the ordinary course of business and consistent with past and existing business practices.

Appears in 1 contract

Samples: Credit Agreement (Farmland Industries Inc)

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