Common use of Return of Stock Clause in Contracts

Return of Stock. Each Facility Company will promptly report to Burdale any return of Stock by an account debtor where that Stock has a value in excess of L50,000. At any time that any Stock (irrespective of its value) is returned, reclaimed or repossessed, the related Receivable will be deemed an Ineligible Receivable. In the event any account debtor returns Stock when an Event of Default has occurred and is continuing, such Facility Company will, upon Burdale's request: (i) hold the returned Stock on trust for Burdale; (ii) segregate all returned Stock from all of its other property; (iii) dispose of the returned Stock solely according to Burdale's instructions; and (iv) not issue any credits, discounts or allowances with respect to such returned stock without Burdale's prior written consent.

Return of Stock. Each Facility Company will promptly report to Burdale any return of Stock by an account debtor where that Stock has a value in excess of L50,000$75,000. At any time that any Stock (irrespective of its value) is returned, reclaimed or repossessed, the related Receivable will be deemed not to be an Ineligible Eligible Receivable. In the event any account debtor returns Stock when an Event of Default has occurred and is continuing, such Facility Company will, upon Burdale's request: (ia) hold the returned Stock on trust for Burdale; (iib) segregate all returned Stock from all of its other property; (iiic) dispose of the returned Stock solely according to Burdale's instructions; and (ivd) not issue any credits, discounts or allowances with respect to such returned stock without Burdale's prior written consent.

Return of Stock. Each Facility Company will promptly report to Burdale any return of Stock by an account debtor where that Stock has a value in excess of L50,000$75,000. At any time that any Stock (irrespective of its value) is returned, reclaimed or repossessed, the related Receivable will be deemed not to be an Ineligible Eligible Receivable. In the event any account debtor returns Stock when an Event of Default has occurred and is continuing, such Facility Company will, upon Burdale's ’s request: (ia) hold the returned Stock on trust for Burdale; (iib) segregate all returned Stock from all of its other property; (iiic) dispose of the returned Stock solely according to Burdale's ’s instructions; and (ivd) not issue any credits, discounts or allowances with respect to such returned stock without Burdale's ’s prior written consent.