Notice of Diminution of Value. The Borrowers shall give prompt notice to the Lender of any matter or event which has resulted in, or may result in, the actual or potential diminution in excess of $50,000 in the value of any of the Collateral.
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Notice of Diminution of Value. The Borrowers Borrower shall give prompt notice to the Lender of any matter or event which has resulted in, or may result in, the actual or potential diminution in excess of $50,000 in the value of any of its Collateral, except for any diminution in the Collateralvalue of any Receivables or Inventory in the ordinary course of business which has been appropriately reserved against, as reflected in the financial statements previously delivered to the Lender pursuant to ARTICLE 9.
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Sources: Loan and Security Agreement (Airport Systems International Inc)
Notice of Diminution of Value. The Borrowers shall give prompt notice to the Lender of any matter or event which has resulted in, or may result in, the actual or potential diminution in excess of $50,000 400,000 in the value of any of its Collateral, except for any diminution in the Collateralvalue of any Receivables or Inventory in the ordinary course of business which has been appropriately reserved against, as reflected in the financial statements previously delivered to the Lender pursuant to ARTICLE 9.
Appears in 1 contract
Sources: Loan and Security Agreement (Ild Telecommunications Inc)