Common use of Adjustments and Allowances Clause in Contracts

Adjustments and Allowances. (1) If on any day the Outstanding Balance of any Paid Receivable is either (a) reduced or adjusted as a result of any defective, rejected, repossessed or returned goods or services or any cash discount (whether commercial, financial or otherwise), rebate or other adjustment made by the Originator or Exide Funding or any other Person, or (b) reduced or cancelled as a result of a set off or by agreement in respect of any claim by the Designated Account Debtor thereof against the Originator, Exide Funding or any other Person (whether such claim arises out of the same or another transaction) (including without limitation any change in the due date for payment of any Paid Receivable otherwise than with the prior consent of the Operating Agent), Exide Funding will be deemed to have received on such day a Collection of such Paid Receivable in the amount of such reduction, adjustment or cancellation and shall credit such amount to the relevant Onward Buyer Account by way of indemnity. (2) If on any day any of the representations or warranties in Clause 8 is no longer true with respect to a Paid Receivable, Exide Funding will be deemed to have received on such day a Collection of such Paid Receivable equal to its original Outstanding Balance less any Collections previously received with respect thereto and shall credit to the relevant Onward Buyer Account an amount equal to such deemed Collection by way of indemnity. (3) If any Purchased Receivable express to be an Eligible Receivables in an Account Receivables Listing at the time of Purchase, on the date such fact becomes known to Exide Funding, Exide Funding will be deemed to have received a Collection of such Purchased Receivable equal to its original Outstanding Balance less any Collections previously received with respect thereto and shall credit to the Onward Buyer Account an amount equal to such deemed Collection by way of indemnity. (4) If, following any payment in respect of a deemed Collection of a Paid Receivable pursuant to Clause 5(D)(1),(2) or (3) above, the Buyer shall receive any further Collections in respect of such Paid Receivable, the Buyer shall (provided no Termination Date has yet occurred) pay to Exide Funding an amount or amounts equal to such further Collections by way of repayment of indemnity.

Adjustments and Allowances. (1) If on any day the Outstanding Balance of any Paid Receivable is either (a) reduced or adjusted as a result of any defective, rejected, repossessed or returned goods or services or any cash discount (whether commercial, financial or otherwise), rebate or other adjustment made by the Originator or Exide Funding Seller or any other Person, or (b) reduced or cancelled as a result of a set off or by agreement in respect of any claim by the Designated Account Debtor thereof against the Originator, Exide Funding any Seller or any other Person (whether such claim arises out of the same or another transaction) (including without limitation any change in the due date for payment of any Paid Receivable otherwise than with the prior consent of the Operating Agent), Exide Funding such Seller will be deemed to have received on such day a Collection of such Paid Receivable in the amount of such reduction, adjustment or cancellation and shall credit such amount to the relevant Onward Buyer Account by way of indemnity. (2) If on any day any of the representations or warranties in Clause 8 is no longer true with respect to a Paid Receivable, Exide Funding the relevant Seller will be deemed to have received on such day a Collection of such Paid Receivable equal to its original Outstanding Balance less any Collections previously received with respect thereto and shall credit to the relevant Onward Buyer Account an amount equal to such deemed Collection by way of indemnity. (3) If any Purchased Existing Receivable express expressed to be an Eligible Receivables Receivable in an Account the relevant Accounts Receivables Listing was not an Eligible Receivable at the time of PurchasePurchase or any Future Receivable expressed to be an Eligible Receivable in the relevant Accounts Receivables Listing was not an Eligible Receivables on the Settlement Date on which the Future Receivable Purchase Price was paid in respect of such Future Receivable, on the date such fact becomes known to Exide Fundingany Seller, Exide Funding such Seller will be deemed to have received a Collection of such Purchased Paid Receivable equal to its original Outstanding Balance less any Collections previously received with respect thereto and shall credit to the Onward Buyer Account an amount equal to such deemed Collection collection by way of indemnity. (4) If, following any payment in respect of a deemed Collection of a Paid Purchased Receivable pursuant to Clause 5(D)(1),(25(D)(2) or (3and 5(D)(3) above, the Buyer shall receive any further Collections in respect of such Paid Purchased Receivable, the Buyer shall (provided no the Termination Date has not yet occurred) pay to Exide Funding the relevant Seller an amount or amounts equal to such further Collections by way of repayment of indemnity.

Adjustments and Allowances. (1) If on any day the Outstanding Balance of any Paid Purchased Receivable is either (a) reduced or adjusted as a result of any defective, rejected, repossessed or returned goods or services or any cash discount (whether commercial, financial or otherwise), rebate or other adjustment made by the Originator or Exide Funding Seller or any other Person, or (b) reduced or cancelled as a result of a set off or by agreement in respect of any claim by the Designated Account Debtor thereof against the Originator, Exide Funding Seller or any other Person (whether such claim arises out of the same or another transaction) (including without limitation any change in the due date for payment of any Paid Purchased Receivable otherwise than with the prior consent of the Operating Agent), Exide Funding the Seller will be deemed to have received on such day a Collection of such Paid Purchased Receivable in the amount of such reduction, adjustment or cancellation and shall credit such amount to the relevant Onward Buyer Account by way of indemnity. (2) If on any day any of the representations or warranties in Clause 8 is no longer true with respect to a Paid Purchased Receivable, Exide Funding the Seller will be deemed to have received on such day a Collection of such Paid Purchased Receivable equal to its original Outstanding Balance less any Collections previously received with respect thereto and shall credit to the relevant Onward Buyer Account an amount equal to such deemed Collection by way of indemnity. (3) If any Purchased Receivable express to be was not an Eligible Receivables in an Account Receivables Listing Receivable at the time of Purchase, on the date such fact becomes known to Exide Fundingthe Seller, Exide Funding the Seller will be deemed to have received a Collection of such Purchased Receivable equal to its original Outstanding Balance less any Collections previously received with respect thereto and shall credit to the Onward Buyer Account an amount equal to such deemed Collection collection by way of indemnity. (4) If the Seller is not acting as the Collection Agent, it will promptly pay to the Collection Agent the amount of any deemed Collection pursuant to Clause 5(D)(1), (2) or (3) above by way of indemnity. (5) If, following any payment in respect of a deemed Collection of a Paid Purchased Receivable pursuant to Clause 5(D)(1),(25(D)(1), (2), (3) or (34) above, the Buyer shall receive any further Collections in respect of such Paid Purchased Receivable, the Buyer shall (provided no Termination Date Early Amortisation Event has yet occurred) pay to Exide Funding the Seller an amount or amounts equal to such further Collections by way of repayment of indemnity.

Adjustments and Allowances. (1) If on any day the Outstanding Balance of any Paid Receivable is either (a) reduced or adjusted as a result of any defective, rejected, repossessed or returned goods or services or any cash discount (whether commercial, financial or otherwise), rebate or other adjustment made by the Originator or Exide Funding Seller or any other Person, or (b) reduced or cancelled as a result of a set off or by agreement in respect of any claim by the Designated Account Debtor thereof against the Originator, Exide Funding Seller or any other Person (whether such claim arises out of the same or another transaction) (including without limitation any change in the due date for payment of any Paid Receivable otherwise than with the prior consent of the Operating Agent), Exide Funding such Seller will be deemed to have received on such day a Collection of such Paid Receivable in the amount of such reduction, adjustment or cancellation and shall credit such amount to the relevant Onward Buyer Account by way of indemnity. (2) If on any day any of the representations or warranties in Clause 8 is no longer true with respect to a Paid Receivable, Exide Funding the relevant Seller will be deemed to have received on such day a Collection of such Paid Receivable equal to its original Outstanding Balance less any Collections previously received with respect thereto and shall credit to the relevant Onward Buyer Account an amount equal to such deemed Collection by way of indemnity. (3) If any Purchased Existing Receivable express expressed to be an Eligible Receivables Receivable in an Account the relevant Accounts Receivables Listing was not an Eligible Receivable at the time of PurchasePurchase or any Future Receivable expressed to be an Eligible Receivable in the relevant Accounts Receivables Listing was not an Eligible Receivables on the Settlement Date on which the Future Receivable Purchase Price was paid in respect of such Future Receivable, on the date such fact becomes known to Exide Fundingthe Seller, Exide Funding the Seller will be deemed to have received a Collection of such Purchased Paid Receivable equal to its original Outstanding Balance less any Collections previously received with respect thereto and shall credit to the Onward Buyer Account an amount equal to such deemed Collection by way of indemnity. (4) If, following any payment in respect of a deemed Collection of a Paid Purchased Receivable pursuant to Clause 5(D)(1),(25(D)(2) or (3and 5(D)(3) above, the Buyer shall receive any further Collections in respect of such Paid Purchased Receivable, the Buyer shall (provided no the Termination Date has not yet occurred) pay to Exide Funding the Seller an amount or amounts equal to such further Collections by way of repayment of indemnity.

Adjustments and Allowances. (1) If on any day the Outstanding Balance of any Paid Receivable is either (a) reduced or adjusted as a result of any defective, rejected, repossessed or returned goods or services or any cash discount (whether commercial, financial or otherwise), rebate or other adjustment made by the Originator or Exide Funding Seller or any other Person, or (b) reduced or cancelled as a result of a set off or by agreement in respect of any claim by the Designated Account Debtor thereof against the Originator, Exide Funding any Seller or any other Person (whether such claim arises out of the same or another transaction) (including without limitation any change in the due date for payment of any Paid Receivable otherwise than with the prior consent of the Operating Agent), Exide Funding such Seller will be deemed to have received on such day a Collection of such Paid Receivable in the amount of such reduction, adjustment or cancellation and shall credit such amount to the relevant Onward Buyer Account by way of indemnity. (2) If on any day any of the representations or warranties in Clause 8 is no longer true with respect to a Paid Receivable, Exide Funding the relevant Seller will be deemed to have received on such day a Collection of such Paid Receivable equal to its original Outstanding Balance less any Collections previously received with respect thereto and shall credit to the relevant Onward Buyer Account an amount equal to such deemed Collection by way of indemnity. (3) If any Purchased Existing Receivable express expressed to be an Eligible Receivables Receivable in an Account the relevant Accounts Receivables Listing was not an Eligible Receivable at the time of PurchasePurchase or any Future Receivable expressed to be an Eligible Receivable in the relevant Accounts Receivables Listing was not an Eligible Receivables on the Settlement Date on which the Future Receivable Purchase Price was paid in respect of such Future Receivable, on the date such fact becomes known to Exide Fundingany Seller, Exide Funding such Seller will be deemed to have received a Collection of such Purchased Paid Receivable equal to its original Outstanding Balance less any Collections previously received with respect thereto and shall credit to the Onward relevant Buyer Account an amount equal to such deemed Collection by way of indemnity. (4) If, following any payment in respect of a deemed Collection of a Paid Purchased Receivable pursuant to Clause 5(D)(1),(25(D)(2) or (3and 5(D)(3) above, the Buyer shall receive any further Collections in respect of such Paid Purchased Receivable, the Buyer shall (provided no the Termination Date has not yet occurred) pay to Exide Funding the relevant Seller an amount or amounts equal to such further Collections by way of repayment of indemnity.

Adjustments and Allowances. (1) If on any day the Outstanding Balance of any Paid Purchased Receivable is either ether (a) reduced or adjusted as a result of any defective, rejected, repossessed or returned goods or services or any cash discount (whether commercial, financial or otherwise), rebate or other adjustment made by the Originator or Exide Funding relevant Seller or any other Person, or (b) reduced or cancelled as a result of a set off or by agreement in respect of any claim by the Designated Account Debtor thereof against the Originator, Exide Funding relevant Seller or any other Person (whether such claim arises out of the same or another transaction) (including without limitation any change in the due date for payment of any Paid Purchased Receivable otherwise than with the prior consent of the Operating Agent), Exide Funding the relevant Seller will be deemed to have received on such day a Collection of such Paid Purchased Receivable in the amount of such reduction, adjustment or cancellation and shall credit such amount to the relevant Onward Buyer Account by way of indemnity. (2) If on any day any of the representations or warranties in Clause 8 is no longer true with respect to a Paid Purchased Receivable, Exide Funding the relevant Seller will be deemed to have received on such day a Collection of such Paid Purchased Receivable equal to its original Outstanding Balance less any Collections previously received with respect thereto and shall credit to the relevant Onward Buyer Account an amount equal to such deemed Collection by way of indemnity. (3) If any Purchased Receivable express to be was not an Eligible Receivables in an Account Receivables Listing Receivable at the time of Purchase, on the date such fact becomes known to Exide Fundinga Seller, Exide Funding the relevant Seller will be deemed to have received a Collection of such Purchased Receivable equal to its original Outstanding Balance less any Collections previously received with respect thereto and shall credit pay to the Onward Buyer Account an amount equal to such deemed Collection collection by way of indemnity. (4) If a Seller is not acting as the Collection Agent, it will promptly pay to the Collection Agent the amount of any deemed Collection pursuant to Clause 5(D)(l), (2) or (3) above by way of indemnity. (5) If, following any payment in respect of a deemed Collection of a Paid Purchased Receivable pursuant to Clause 5(D)(1),(25(D)(1), (2), (3) or (34) above, the Buyer shall receive any further Collections in respect of such Paid Purchased Receivable, the Buyer shall (provided no Termination Date Early Amortisation Event has yet occurred) pay to Exide Funding the relevant Seller an amount or amounts equal to such further Collections by way of repayment of indemnity.

Adjustments and Allowances. (1) If on any day the Outstanding Balance of any Paid Purchased Receivable is either (a) reduced or adjusted as a result of any defective, rejected, repossessed or returned goods or services or any cash discount (whether commercial, financial or otherwise), rebate or other adjustment made by the Originator or Exide Funding Seller or any other Person, or (b) reduced or cancelled as a result of a set off or by agreement in respect of any claim by the Designated Account Debtor thereof against the Originator, Exide Funding Seller or any other Person (whether such claim arises out of the same or another transaction) (including without limitation any change in the due date for payment of any Paid Purchased Receivable otherwise than with the prior consent of the Operating Agent), Exide Funding the Seller will be deemed to have received on such day a Collection of such Paid Purchased Receivable in the amount of such reduction, adjustment or cancellation and shall credit such amount to the relevant Onward Buyer Agent Account by way of indemnity. (2) If on any day any of the representations or warranties in Clause 8 is no longer true with respect to a Paid Purchased Receivable, Exide Funding the Seller will be deemed to have received on such day a Collection of such Paid Purchased Receivable equal to its original Outstanding Balance less any Collections previously received with respect thereto and shall credit to the relevant Onward Buyer Agent Account an amount equal to such deemed Collection by way of indemnity. (3) If any Purchased Receivable express to be was not an Eligible Receivables in an Account Receivables Listing Receivable at the time of Purchase, on the date such fact becomes known to Exide Fundingthe Seller, Exide Funding the Seller will be deemed to have received a Collection of such Purchased Receivable equal to its original Outstanding Balance less any Collections previously received with respect thereto and shall credit to the Onward Buyer Agent Account an amount equal to such deemed Collection collection by way of indemnity. (4) If the Seller is not acting as the Collection Agent, it will promptly pay to the Collection Agent the amount of any deemed Collection pursuant to Clause 5(D)(1) (2) or (3) above by way of indemnity. (5) If, following any payment in respect of a deemed Collection of a Paid Purchased Receivable pursuant to Clause 5(D)(1),(25(D)(1), (2), (3) or (34) above, the Buyer shall receive any further Collections in respect of such Paid Purchased Receivable, the Buyer shall (provided no Termination Date Early Amortisation Event has yet occurred) pay to Exide Funding the Seller an amount or amounts equal to such further Collections by way of repayment of indemnity.