Common use of Disputes, Returns and Adjustments Clause in Contracts

Disputes, Returns and Adjustments. (a) Borrower shall provide Lender with prompt written notice of amounts in excess of the amount shown on Schedule A that are in dispute between any Account Debtor and Borrower after completion of the account dispute appeal process, exclusive of the amounts of ordinary course reimbursement deductions made by insurance companies. (b) Borrower shall notify Lender promptly of all returns and credits in respect of any Account, which notice shall specify the Accounts affected and be included in the Borrowing Base Certificate delivered to Lender. Borrower shall notify Lender promptly of any pending return or credit in excess of the amount shown on Schedule A, and shall specify the Account affected, the related Account Debtor, and the goods to be returned. (c) Borrower may, in the ordinary course of business and prior to a Default or an Event of Default, grant any extension of time for payment of any Account or compromise, compound, or settle the same for less than the full amount thereof or release wholly or partly any Person liable for the payment thereof or allow any credit or discount whatsoever thereon, provided that (i) Borrower shall not have taken any such action that results in the reduction of more than the amount shown on Schedule A with respect to any Account or more than the amount shown on Schedule A (exclusive of the amounts of ordinary course reimbursement deductions made by insurance companies) with respect to all Accounts of Borrower in any fiscal year and (ii) Borrower shall promptly notify Lender (but not less often than ten (10) days after the end of each month) of the amount of such adjustments and the Account(s) affected thereby.

Disputes, Returns and Adjustments. (a) Borrower shall provide Lender with prompt written notice of amounts in excess of the amount shown on Schedule A that are in dispute between any Account Debtor and Borrower after completion of the account dispute appeal process, exclusive of the amounts of ordinary course reimbursement deductions made by insurance companiesBorrower. (b) Borrower shall notify Lender promptly of all returns and credits in respect of any Account, which notice shall specify the Accounts affected and be included in the Borrowing Base Certificate delivered to Lender. Borrower shall notify Lender promptly of any pending return or credit in excess of the amount shown on Schedule A, and shall specify the Account affected, the related Account Debtor, and the goods to be returned. (c) Borrower may, in the ordinary course of business and prior to a Default or an Event of Default, grant any extension of time for payment of any Account or compromise, compound, or settle the same for less than the full amount thereof or release wholly or partly any Person liable for the payment thereof or allow any credit or discount whatsoever thereon, provided that (i) Borrower shall not have taken any such action that results in the reduction of more than the amount shown on Schedule A with respect to any Account account or more than the amount shown on Schedule A (exclusive of the amounts of ordinary course reimbursement deductions made by insurance companies) with respect to all Accounts of Borrower in any fiscal year year, and (ii) Borrower shall promptly notify Lender (but not less often than ten (10) days after the end of each month) of the amount of such adjustments and the Account(s) affected thereby.

Disputes, Returns and Adjustments. (a) Borrower shall provide Lender with prompt written notice of amounts in excess of the amount shown on Schedule A that are in dispute between any Account Debtor and Borrower after completion of the account dispute appeal process, exclusive of the amounts of ordinary course reimbursement deductions made by insurance companiesBorrower. (b) Borrower shall notify Lender promptly of all returns and credits in respect of any AccountAccount in excess of the amount shown on Schedule A, which notice shall specify the Accounts affected and be included in the Borrowing Base Certificate delivered to Lender. Borrower shall notify Lender promptly of any pending return or credit in excess of the amount shown on Schedule A, and shall specify the Account affected, the related Account Debtor, and the goods to be returned. (c) Borrower may, in the ordinary course of business and prior to a Default or absent the occurrence and continuance of an Event of Default, grant any extension of time for payment of any Account or compromise, compound, or settle the same for less than the full amount thereof or release wholly or partly any Person liable for the payment thereof or allow any credit or discount whatsoever thereon, provided that (i) Borrower shall not have taken any such action that results in the reduction of more than the amount shown on Schedule A with respect to any Account account or more than the amount shown on Schedule A (exclusive of the amounts of ordinary course reimbursement deductions made by insurance companies) with respect to all Accounts of Borrower in any fiscal year year, and (ii) Borrower shall promptly notify Lender (but not less often than ten (10) days after the end of each month) of the amount of such adjustments and the Account(s) affected thereby.