Returns of Inventory. No Borrower shall return any of its Inventory to a supplier or vendor thereof, or any other Person, whether for cash, credit against future purchases or then existing payables, or otherwise, unless (i) such return is in the ordinary course of business of such Borrower; (ii) no Default or Event of Default exists at the time of such return or would result therefrom; and (iv) any payments received by a Borrower in connection with any such return are promptly turned over to Agent for application to the Obligations.
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Sources: Loan and Security Agreement (Freedom Group, Inc.), Loan and Security Agreement (Freedom Group, Inc.)
Returns of Inventory. No Borrower shall return any of its Inventory to a supplier supplier, vendor or vendor thereof, or any other Person, whether for cash, credit against future purchases or then existing payables, or otherwise, unless (ia) such return is in the ordinary course Ordinary Course of business of such BorrowerBusiness; (iib) no Default or Default, Event of Default or Overadvance exists at the time of such return or would result therefrom; and (iv) any payments received by a Borrower in connection with any such return are promptly turned over to Agent for application to the Obligations.;
Appears in 2 contracts
Sources: Loan and Security Agreement (Orion Energy Systems, Inc.), Loan and Security Agreement (Orion Energy Systems, Inc.)
Returns of Inventory. No Borrower shall return any of its Inventory to a supplier supplier, vendor or vendor thereof, or any other Person, whether for cash, credit against future purchases or then existing payables, or otherwise, unless (ia) such return is in the ordinary course Ordinary Course of business of such BorrowerBusiness; (iib) no Default or Default, Event of Default or Overadvance applicable to such Borrower or its Borrower Group exists at the time of such return or would result therefrom; and (ivc) any payments payment received by a Borrower in connection with any such for a return are is promptly turned over remitted to the Applicable Agent for application to the ObligationsObligations to the extent required under Section 8.2.4.
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Sources: Loan Agreement (Superior Essex Inc)
Returns of Inventory. No Borrower shall return any of its Inventory to a supplier supplier, vendor or vendor thereof, or any other Person, whether for cash, credit against future purchases or then existing payables, or otherwise, unless (ia) such return is in the ordinary course Ordinary Course of business of such BorrowerBusiness; (iib) no Default or Default, Event of Default or Overadvance exists at the time of such return or would result therefrom; and (ivc) any payments payment received by a Borrower in connection with any such for a return are is promptly turned over remitted to Agent for application to the Obligations.
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Sources: Loan and Security Agreement (Adara Acquisition Corp.)
Returns of Inventory. No Borrower shall return any of its Inventory to a supplier or vendor thereof, or any other Person, whether for cash, credit against future purchases or then existing payables, or otherwise, unless (i) such return is in the ordinary course Ordinary Course of business Business of such BorrowerBorrower and such Person; (ii) no Default or Event of Default exists at the time of such return or would result therefrom; and (iv) any payments received by a Borrower in connection with any such return are promptly turned over to Agent for application to the Obligations.;
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Returns of Inventory. No Borrower shall return any of its Inventory to a supplier supplier, vendor or vendor thereof, or any other Person, whether for cash, credit against future purchases or then existing payables, or otherwise, unless (ia) such return is in the ordinary course Ordinary Course of business of such BorrowerBusiness; (iib) no Default or Default, Event of Default or Overadvance exists at the time of such return or would result therefrom; and (ivc) any payments payment received by a Borrower in connection with any such for a return are is promptly turned over remitted to Agent for application to the ObligationsObligations to the extent required under Section 8.2.4.
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Returns of Inventory. No Borrower shall return any of its Inventory to a supplier supplier, vendor or vendor thereof, or any other Person, whether for cash, credit against future purchases or then existing payables, or otherwise, unless if (ia) such return is in the ordinary course of business of such Borrower; (ii) no Default or an Event of Default exists at the time of such return or would result therefrom; and (ivb) any payments received by a Borrower in connection with any during such return are promptly turned over to Event of Default Agent for application has delivered notice to the ObligationsBorrowers directing that the Borrowers not do any of the foregoing.
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Returns of Inventory. No Borrower shall return any of its Inventory to a supplier supplier, vendor or vendor thereof, or any other Person, whether for cash, credit against future purchases or then existing payables, or otherwise, unless (ia) such return is in the ordinary course Ordinary Course of business of such BorrowerBusiness; (iib) no Default or Default, Event of Default or Overadvance exists at the time of such return or would result therefrom; and (ivc) any payments received by a Borrower in connection with any such return are Lender is promptly turned over to Agent for application to notified if the Obligationsaggregate Value of all Eligible Inventory returned since the delivery of the last Borrowing Base Certificate exceeds $25,000.
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