Common use of Verification Clause in Contracts

Verification. Bank may, from time to time, verify directly with the respective Account Debtors the validity, amount and other matters relating to the Accounts, either in the name of Borrower or Bank or such other name as Bank may choose.

Appears in 108 contracts

Samples: Loan and Security Agreement (Rubicon Project, Inc.), Loan and Security Agreement (GOOD TECHNOLOGY Corp), Loan and Security Agreement (Stereotaxis, Inc.)

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Verification. Bank may, from time to time, verify directly with the respective Account Debtors the validity, amount and other matters relating to the Accounts, either in the name of Borrower or Bank or such other name as Bank may choose, and notify any Account Debtor of Bank’s security interest in such Account.

Appears in 27 contracts

Samples: Loan and Security Agreement (Fastly, Inc.), Loan and Security Agreement (Astea International Inc), Loan and Security Agreement (Twilio Inc)

Verification. Bank may, from time to time, after consultation with Borrower, verify directly with the respective Account Debtors the validity, amount and other matters relating to the Accounts, either in the name of Borrower or Bank or such other name as Bank may choose.

Appears in 6 contracts

Samples: Loan Modification Agreement (Aspen Aerogels Inc), Loan and Security Agreement (ConforMIS Inc), Loan Modification Agreement (Aspen Aerogels Inc)

Verification. Bank may, from time to time, verify directly with the respective Account Debtors the validity, amount and other matters relating to the Accounts, either in the name of a Borrower or Bank or such other name as Bank may choose.

Appears in 4 contracts

Samples: Loan and Security Agreement (Alphatec Holdings, Inc.), Export Import Bank Loan and Security Agreement (Qualmark Corp), Loan and Security Agreement (Sciclone Pharmaceuticals Inc)

Verification. Bank may, from time to time, verify directly with the respective Account Debtors the validity, amount and other matters relating to the Accounts, either in the name of Borrower Borrowers or Bank or such other name as Bank may choose.

Appears in 4 contracts

Samples: Loan and Security Agreement (GOOD TECHNOLOGY Corp), Loan and Security Agreement (GOOD TECHNOLOGY Corp), Loan and Security Agreement (Covad Communications Group Inc)

Verification. Bank may, from time to time, verify directly with the respective Account Debtors the validity, amount and other matters relating to the Accounts, by means of mail, telephone or otherwise, either in the name of Borrower or Bank or such other name as Bank may choose.

Appears in 4 contracts

Samples: Loan and Security Agreement (Fiberstars Inc /Ca/), Loan and Security Agreement (Redback Networks Inc), Loan and Security Agreement (Redback Networks Inc)

Verification. Bank may, from time to time, verify directly with the respective Account Debtors the validity, amount and other matters relating to the Accounts, either in the name of Borrower or Bank or such other name as Bank may choose, and notify any Account Debtor of Bank’s security interest in such Account. When no Event of Default has occurred and is continuing, Bank agrees to provide Borrower with prior notice of any such verifications.

Appears in 3 contracts

Samples: Loan and Security Agreement (AltheaDx, Inc.), Loan and Security Agreement (AltheaDx, Inc.), Loan and Security Agreement (AltheaDx, Inc.)

Verification. Bank may, from time to time, verify directly with the respective Account Debtors the validity, amount and other matters relating to the Accounts, either in the name of Borrower one of Borrowers or Bank or such other name as Bank may choose.

Appears in 3 contracts

Samples: Loan and Security Agreement (Ultra Clean Holdings Inc), Loan and Security Agreement (Ultra Clean Holdings Inc), Loan and Security Agreement (Ultra Clean Holdings Inc)

Verification. Bank may, from time to time, after the occurrence and during the continuance of any Event of Default, verify directly with the respective Account Debtors the validity, amount and other matters relating to the Accounts, either in the name of Borrower or Bank or such other name as Bank may choose, and notify any Account Debtor of Bank’s security interest in such Account.

Appears in 2 contracts

Samples: Senior Loan and Security Agreement (Appdynamics Inc), Senior Loan and Security Agreement (Appdynamics Inc)

Verification. Bank may, from time to time, verify directly with the respective Account Debtors the validity, amount and other matters relating to the Accounts, either in the name of Borrower or Bank or such other name as Bank may choose, provided that if no Event of Default has occurred and is continuing, Bank shall notify Borrower prior to making any direct contact with Borrower’s Account Debtors.

Appears in 2 contracts

Samples: Loan and Security Agreement (TrueCar, Inc.), Loan and Security Agreement (TrueCar, Inc.)

Verification. Bank may, from time to time, verify directly with the respective Account Debtors the validity, amount and other matters relating to the Accounts, either in the name of Borrower or Bank or such other name as Bank may choosechoose (which verification shall be in writing, unless there has been an Event of Default, in which event the verification need not be in writing).

Appears in 2 contracts

Samples: Loan and Security Agreement (Amtech Systems Inc), Loan and Security Agreement (Amtech Systems Inc)

Verification. Bank may, from time to time, verify directly with the respective Account Debtors the validity, amount and other matters relating to the Accounts, either in the name of Borrower or Bank or such other name as Bank may choose, and notify any Account Debtor of Bank’s security interest in such Account. In the event Bank exercises such rights, Bank shall endeavor to provide notice to Borrower thereof.

Appears in 2 contracts

Samples: Loan and Security Agreement (ECPM Holdings, LLC), Loan and Security Agreement (ECPM Holdings, LLC)

Verification. Bank may, from time to time, verify directly with the respective Account Debtors the validity, amount and other matters relating to the Accounts, either in the name of Borrower or Bank or such other name as Bank may choose; provided, that so long as no Event of Default exists, such verification will be made in cooperation with Borrower.

Appears in 2 contracts

Samples: Loan and Security Agreement (Yodlee Inc), Loan and Security Agreement (Yodlee Inc)

Verification. Bank may, from time to time, verify directly with the respective Account Debtors the validity, amount and other matters relating to the Accounts, either in the name of Borrower or Bank or such other name as Bank may choose, provided that, prior to the occurrence of an Event of Default, any such verification shall be subject to prior written notice to Borrower.

Appears in 2 contracts

Samples: Loan and Security Agreement (Global Telecom & Technology, Inc.), Loan and Security Agreement (Global Telecom & Technology, Inc.)

Verification. Bank may, from time to time, verify directly with the respective Account Debtors the validity, amount and other matters relating to the Accounts, either in the name of the relevant Borrower or Bank or such other name as Bank may choose.

Appears in 2 contracts

Samples: Loan and Security Agreement (Intellicheck Mobilisa, Inc.), Loan and Security Agreement (Derycz Scientific Inc)

Verification. Bank may, from time to time, via written confirmation, with notice to Borrower, verify in connection with Bank’s semi-annual audit, directly with the respective Account Debtors the validity, amount and other matters relating to the Accounts, either in the name of Borrower or Bank or such other name as Bank may choose.

Appears in 2 contracts

Samples: Loan and Security Agreement (Channeladvisor Corp), Loan and Security Agreement (Channeladvisor Corp)

Verification. Bank may, from time to time, upon the occurrence and during the continuance of a Default or an Event of Default, verify directly with the respective Account Debtors the validity, amount and other matters relating to the Accounts, either in the name of Borrower or Bank or such other name as Bank may choose, and notify any Account Debtor of Bank’s security interest in such Account.

Appears in 2 contracts

Samples: Seventh Loan Modification Agreement (Chyron Corp), Seventh Loan Modification Agreement (ChyronHego Corp)

Verification. Bank may, from time to time, verify directly with the respective Account Debtors the validity, amount and other matters relating to the Accounts, either in the name of Borrower or Bank or such other name as Bank may choose, and notify any Account Debtor of Bank’s security interest in such Account, provided that Bank shall, unless an Event of Default has occurred and is continuing, notify Borrower prior to any such communication with an Account Debtor.

Appears in 2 contracts

Samples: Loan and Security Agreement (Basis Global Technologies, Inc.), Loan and Security Agreement (Basis Global Technologies, Inc.)

Verification. Bank may, may from time to time, time verify directly with the respective Account Debtors the validity, amount and other matters relating to the Accounts, either in the name of Borrower or Bank or such other name as Bank may choose, and notify any Account Debtor of Bank’s security interest in such Account.

Appears in 2 contracts

Samples: Loan and Security Agreement (Adaptive Insights Inc), Loan and Security Agreement (Adaptive Insights Inc)

Verification. Bank may, from time to time, verify directly with the respective Account Debtors the validity, amount and other matters relating to the Accounts, either in the name of Borrower or Bank or such other name as Bank may chooseBank’s agent.

Appears in 2 contracts

Samples: Loan and Security Agreement (AtriCure, Inc.), Loan and Security Agreement (AtriCure, Inc.)

Verification. Bank may, from time to time, verify directly with the respective Account Debtors the validity, amount and other matters relating to the Accounts, either in the name of Borrower or Bank or such other name and, so long as Bank may chooseno Event of Default has occurred and upon notice to the Borrower, its Subsidiaries.

Appears in 1 contract

Samples: Loan and Security Agreement (Saba Software Inc)

Verification. Bank may, from time to time, verify directly with the respective Account Debtors the validity, amount and other matters relating to the AccountsAccounts of Borrower, either in the name of Borrower or Bank or such other name as Bank may choose.

Appears in 1 contract

Samples: Loan and Security Agreement (NMT Medical Inc)

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Verification. Bank may, from time to time, verify directly with the respective Account Debtors the validity, amount and other matters relating to the Accounts, either in the name of Borrower or Bank or such other name as Bank may choose, and notify any Account Debtor of Bank’s security interest in such Account. In addition, Bank may notify Account Debtors to make payments in respect of Accounts directly to Bank, provided Bank will endeavor to notify Borrower in advance.

Appears in 1 contract

Samples: Loan and Security Agreement (Sajan Inc)

Verification. Bank may, from time to time, verify directly with the respective Account Debtors the validity, amount and other matters relating to the Accounts, either in the name of Borrower or Bank or Bank’s agent; provided that Bank shall provide notice of such other name as communication to Borrower including what information Bank may chooseverified.

Appears in 1 contract

Samples: Loan and Security Agreement (AtriCure, Inc.)

Verification. Bank may, from time to time, verify directly with the respective Account Debtors the validity, amount and other matters relating to the Accounts, either in the name of Borrower or Bank or such other name as Bank may choose, and notify any Account Debtor of Bank’s security interest in such Account; provided that when no Event of Default has occurred and is continuing, Bank will endeavor to consult with Borrower prior to conducting such verifications.

Appears in 1 contract

Samples: Loan and Security Agreement (Digital Turbine, Inc.)

Verification. Bank may, from time to time, verify directly with the respective Account Debtors the validity, amount and other matters relating to the Accounts, either in the name of Borrower, Spruce, Thinq, any other Affiliate of Borrower as Bank may designate from time to time or Bank or such other name as Bank may choose.

Appears in 1 contract

Samples: Loan and Security Agreement (Saba Software Inc)

Verification. The Bank may, from time to time, verify directly with the respective Account Debtors the validity, amount and other matters relating to the AccountsAccounts by means of mail, telephone or otherwise, either in the name of Borrower or the Bank or such other name as the Bank may choose.

Appears in 1 contract

Samples: Loan and Security Agreement (Critical Path Inc)

Verification. Bank may, from time to time, verify directly ------------ with the respective Account Debtors the validity, amount and other matters relating to the Accounts, either in the name of Borrower or Bank or such other name as Bank may choose.

Appears in 1 contract

Samples: Loan and Security Agreement (Concurrent Computer Corp/De)

Verification. Bank may, from time to time, verify directly with the respective Account Debtors the validity, amount and other matters relating to the Accounts, either in the name of the relevant Co-Borrower or Bank or such other name as Bank may choose, and notify any Account Debtor of Bank's security interest in such Account.

Appears in 1 contract

Samples: Loan and Security Agreement (Augme Technologies, Inc.)

Verification. Bank may, from time to time, after consultation and reasonable notice to the Borrower, verify directly with the respective Account Debtors the validity, amount and other matters relating to the Accounts, either in the name of Borrower or Bank or such other name as Bank may choose.

Appears in 1 contract

Samples: Loan and Security Agreement (Real Goods Solar, Inc.)

Verification. Bank may, from time to time, verify directly with the respective Account Debtors the validity, amount and other matters relating to the Accounts, either in the name of Borrower or Bank or such other name as Bank may choose.

Appears in 1 contract

Samples: Loan and Security Agreement (Ulthera Inc)

Verification. Bank may, from time to time, after consultation with and notice to Borrower, verify directly with the respective Account Debtors the validity, amount and other matters relating to the Accounts, either in the name of Borrower or Bank or such other name as Bank may choose, and notify any Account Debtor of Bank’s security interest in such Account.

Appears in 1 contract

Samples: Loan and Security Agreement (Oclaro, Inc.)

Verification. Bank may, from time to time, verify directly with the respective Account Debtors the validity, amount and other matters relating to the Accounts, either in the name of such Borrower or Bank or such other name as Bank may choose.

Appears in 1 contract

Samples: Loan and Security Agreement (MEDecision, Inc.)

Verification. Bank may, from time to time, verify directly with the respective Account Debtors the validity, amount and other matters relating to the Accounts, either in the name of Borrower or Bank or such other name as Bank may chooseBank.

Appears in 1 contract

Samples: Loan and Security Agreement (Cepheid)

Verification. Bank may, from time to time, verify directly with the respective Account Debtors the validity, amount and other matters relating to the Accounts, either in the name of Borrower or Bank or such other name as Bank may choose; provided that, prior to the occurrence of an Event of Default, any such verification shall be subject to prior written notice to Borrower.

Appears in 1 contract

Samples: Loan and Security Agreement (Global Telecom & Technology, Inc.)

Verification. Bank may, from time to time, verify directly with the respective Account Debtors the validity, amount and other matters relating to the Accounts, either in the name of Borrower or Bank or such other name as Bank may chooseBank. Such verification shall be accomplished in a commercially reasonable manner.

Appears in 1 contract

Samples: Loan and Security Agreement (Ibasis Inc)

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