Common use of Without limiting the obligation of Borrowers Clause in Contracts

Without limiting the obligation of Borrowers. to deliver any other information to Agent, Borrowers shall promptly report to Agent any return of Inventory by any one account debtor if the Inventory so returned in such case has a value in excess of $250,000. At any time that Inventory is returned, reclaimed or repossessed, the Account (or portion thereof) which arose from the sale of such returned, reclaimed or repossessed Inventory shall not be deemed an Eligible Account. In the event any account debtor returns Inventory when an Event of Default exists or has occurred and is continuing, Borrowers shall, upon Agent’s request, (i) hold the returned Inventory in trust for Agent and Lenders, (ii) segregate all returned Inventory from all of its other property, (iii) dispose of the returned Inventory solely according to Agent’s instructions in good faith, and (iv) not issue any credits, discounts or allowances with respect thereto without Agent’s prior written consent.

Appears in 1 contract

Samples: Loan and Security Agreement (Bell Microproducts Inc)

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Without limiting the obligation of Borrowers. to deliver any other information to Agent, Borrowers shall promptly report to Agent any return of Inventory by any one account debtor if (i) the Inventory so returned in such case has a value in excess of $250,0001,000,000, and (ii) the Account arising out of the sale of the Inventory so returned was not already excluded from Eligible Accounts in whole or in part as a result of the account debtor’s potential return rights with respect to such Inventory. At any time that Inventory is returned, reclaimed or repossessed, the Account (or portion thereof) which arose from the sale of such returned, reclaimed or repossessed Inventory shall not be deemed an Eligible Account. In the event any account debtor returns Inventory when an Event of Default exists or has occurred and is continuing, Borrowers shall, upon Agent’s request, (i) hold the returned Inventory in trust for Agent and LendersAgent, (ii) segregate all returned Inventory from all of its other property, (iii) dispose of the returned Inventory solely according to Agent’s instructions in good faithinstructions, and (iv) not issue any credits, discounts or allowances with respect thereto without Agent’s prior written consent.

Appears in 1 contract

Samples: Loan and Security Agreement (Delta Apparel, Inc)

Without limiting the obligation of Borrowers. to deliver any other information to AgentLender, Borrowers shall promptly report to Agent Lender any return of Inventory by any one account debtor if the Inventory inventory so returned in such case has a value in excess of $250,00010,000. At any time that Inventory is returned, reclaimed or repossessed, the Account (or portion thereof) which arose from the sale of such returned, reclaimed or repossessed Inventory shall not be deemed an Eligible Account. In the event any account debtor returns Inventory when an Event of Default exists or has occurred and is continuing, Borrowers shall, upon Agent’s Lender's request, (i) hold the returned Inventory in trust for Agent and LendersLender, (ii) segregate all returned Inventory from all of its other property, (iii) dispose of the returned Inventory solely according to Agent’s instructions in good faithLender's instructions, and (iv) not issue any credits, discounts or allowances with respect thereto without Agent’s Lender's prior written consent.

Appears in 1 contract

Samples: Loan and Security Agreement (Nutritional Sourcing Corp)

Without limiting the obligation of Borrowers. to deliver any other information to AgentLender, Borrowers shall promptly report to Agent Lender any return of Inventory by any one account debtor if the Inventory so returned in such case has a value in excess of $250,00075,000. At any time that Inventory is returned, reclaimed or repossessed, the Account (or portion thereof) which arose from the sale of such returned, reclaimed or repossessed Inventory shall not be deemed an Eligible Account. In the event any account debtor returns Inventory when an Event of Default exists or has occurred and is continuing, Borrowers shall, upon Agent’s Lender's request, (i) hold the returned Inventory in trust for Agent and LendersLender, (ii) segregate all returned Inventory from all of its other property, (iii) dispose of the returned Inventory solely according to Agent’s instructions in good faithLender's instructions, and (iv) not issue any credits, discounts or allowances with respect thereto without Agent’s Lender's prior written consent.

Appears in 1 contract

Samples: Loan and Security Agreement (Play by Play Toys & Novelties Inc)

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Without limiting the obligation of Borrowers. to deliver any other information to AgentLender, Borrowers shall promptly report include in its collateral reporting to Agent Lender pursuant to Section 7.1 hereof, any return returns of Inventory by any one account debtor if the Inventory so returned in such case has a value in excess of $250,000debtors. At any time that Inventory is returned, reclaimed or repossessed, the Account (or portion thereof) which arose from the sale of such returned, reclaimed or repossessed Inventory shall not be deemed an Eligible Account. In the event any account debtor returns Inventory when an Event of Default exists or has occurred and is continuing, Borrowers each Borrower shall, upon Agent’s Lender's request, (i) hold the returned Inventory in trust for Agent and LendersLender, (ii) segregate all returned Inventory from all of its other property, (iii) dispose of the returned Inventory solely according to Agent’s instructions in good faithLender's instructions, and (iv) not issue any credits, discounts or allowances with respect thereto without Agent’s Lender's prior written consent.

Appears in 1 contract

Samples: Loan and Security Agreement (Deckers Outdoor Corp)

Without limiting the obligation of Borrowers. to deliver any other information to Agent, Borrowers shall promptly report to Agent any return of Inventory by any one account debtor if the Inventory so returned in such case has a value in excess of $250,0001,000,000. At any time that Inventory is returned, reclaimed or repossessed, the Account (or portion thereof) which arose from the sale of such returned, reclaimed or repossessed Inventory shall not be deemed an Eligible Account. In the event any account debtor returns Inventory when an Event of Default exists or has occurred and is continuing, Borrowers shall, upon Agent’s 's request, (i) hold the returned Inventory in trust for Agent and Lenders, (ii) segregate all returned Inventory from all of its other property, (iii) dispose of the returned Inventory solely according to Agent’s instructions in good faith's instructions, and (iv) not issue any credits, discounts or allowances with respect thereto without Agent’s 's prior written consent.

Appears in 1 contract

Samples: Loan and Security Agreement (Pep Boys Manny Moe & Jack)

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