Common use of Continuing Requirements Clause in Contracts

Continuing Requirements. Customer shall: (a) from time to time, if required by IBM Credit, immediately upon their creation, deliver to IBM Credit copies of all invoices, delivery evidences and other documents relating to each Account; (b) within three (3) Business Days after Customer's learning thereof, inform IBM Credit in writing of any rejection of goods or services by any Account debtor, delays in delivery of goods or performance of services, non-performance of contracts and of any assertion of any claim, offset or counterclaim by any Account debtor, if such return or rejection could reasonably be expected to have a Material Adverse Effect; (c) not permit or agree to any extension, compromise or settlement or make any change or modification of any kind or nature with respect to any Account, including any of the terms relating thereto; (d) within three (3) Business Days after Customer's learning thereof, furnish to and inform IBM Credit in writing of all adverse information relating to the financial condition of any Account debtor if such information could reasonably be expected to have a Material Adverse Effect; (e) affix appropriate endorsements or assignments upon all items of payment and proceeds so that the same may be properly deposited by IBM Credit to IBM Credit's account; (f) within three (3) Business Days after Customer's learning thereof, notify IBM Credit in writing which Accounts may be deemed ineligible as defined in Subsection 3.3 herein; (g) keep all goods rejected or returned by any Account debtor and all goods repossessed or stopped in transit by Customer from any Account debtor segregated from other property of Customer, holding the same in trust and as trustee for IBM Credit until Customer applies a credit against such Account debtor's outstanding obligations to Customer or sells such goods in the ordinary course of business, whichever occurs first, if such returned goods could reasonably be expected, as determined by IBM Credit, to have a Material Adverse Affect; (h) stamp or otherwise ▇▇▇▇ chattel paper and instruments now owned or hereafter acquired by it to show that the same are subject to IBM Credit's security interest and immediately thereafter deliver or cause such chattel paper and instruments to be delivered to IBM Credit or any agent designated by IBM Credit with appropriate endorsements and assignments to vest title and possession in IBM Credit; (i) together with each Request for Advance, provide IBM Credit with a summary of the aging of the Accounts; and (j) provide to IBM Credit a detailed aging report of its Accounts, which shall include its accounts receivable ledger and its on-line aging of Accounts and any other report listing other Collateral that IBM Credit may request, in a format acceptable to IBM Credit, no later than the fifteenth (15th) day of each month and containing information as of the close of business on the last day of the preceding month.

Continuing Requirements. Customer shall: (aA) from time to time, if required by IBM Credit, immediately upon their creation, deliver to IBM Credit copies of all invoices, delivery evidences and other documents relating to each Account; (bB) within three (3) Business Days after Customer's learning thereof, inform IBM Credit in writing of any rejection of goods or services by any Account debtor, delays in delivery of goods or performance of services, non-performance of contracts and of any assertion of any claim, offset or counterclaim by any Account debtor, if such return or rejection could reasonably be expected to have a Material Adverse Effect; (cC) other than in the ordinary course of business as generally conducted by Cutsomer over a period of time, not permit or agree to any extension, compromise or settlement or make any change or modification of any kind or nature with respect to any Accountaccount, including any of the terms relating thereto; (dD) within three (3) Business Days after Customer's learning thereof, furnish to and inform IBM Credit in writing of all adverse information relating to the financial condition of any Account debtor if such information could reasonably be expected to have a Material Adverse Effect; (e) affix appropriate endorsements or assignments upon all items of payment and proceeds so that the same may be properly deposited by IBM Credit to IBM Credit's account; (f) within three (3) Business Days after Customer's learning thereof, notify IBM Credit in writing which Accounts may be deemed ineligible as defined in Subsection 3.3 herein; (gE) keep all goods rejected or returned by any Account debtor and all goods repossessed or stopped in transit by Customer from any Account debtor segregated from other property of Customer, holding the same in trust and as trustee for IBM Credit until Customer applies a credit against such Account debtor's outstanding obligations to Customer or sells such goods in the ordinary course of business, whichever occurs first, if such returned goods could reasonably be expected, as determined by IBM Credit, to have a Material Adverse Affect; (hF) stamp or otherwise ▇▇▇▇ chattel paper and instruments now owned or hereafter acquired by it to show that the same are subject to IBM Credit's security interest and immediately thereafter deliver or cause such chattel paper and instruments to be delivered to IBM Credit or any agent designated by IBM Credit with appropriate endorsements and assignments to vest title and possession in IBM Credit; (i) together with each Request for Advance, provide IBM Credit with a summary of the aging of the Accounts; and (jG) provide to IBM Credit a detailed aging report of its Accounts, which shall include its accounts receivable ledger and its on-line aging of Accounts and any other report listing other Collateral that IBM Credit may reasonably request, in a format acceptable to IBM Credit, no later than the fifteenth (15th) day of each month and containing information as of the close of business on the last day of the preceding month.