Settling of Accounts. Borrower shall not settle or adjust any Account identified by Borrower as an Eligible Account or with respect to which the Account Debtor is an Affiliate without the consent of Lender, provided, that following the occurrence and during the continuance of an Event of Default, Borrower shall not settle or adjust any Account without the consent of Lender.
Appears in 5 contracts
Sources: Loan and Security Agreement (Sri Surgical Express Inc), Loan and Security Agreement (Obsidian Enterprises Inc), Loan and Security Agreement (Sri Surgical Express Inc)
Settling of Accounts. No Borrower shall not settle or adjust any Account identified by such Borrower as an Eligible Account or with respect to which the Account Debtor is an Affiliate without the consent of Lender, provided, that following the occurrence and during the continuance of an Event of Default, no Borrower shall not settle or adjust any Account without the consent of Lender.
Appears in 3 contracts
Sources: Loan and Security Agreement (Broadwind Energy, Inc.), Loan and Security Agreement (Katy Industries Inc), Credit and Security Agreement (Mendocino Brewing Co Inc)
Settling of Accounts. Borrower shall not settle or adjust any Account identified by Borrower as an Eligible Account or with respect to which the Account Debtor is an Affiliate without the consent of LenderLender (which consent shall not unreasonably be withheld so long as no Event of Default as occurred and is continuing), provided, that following the occurrence and during the continuance of an Event of Default, Borrower shall not settle or adjust any Account without the consent of Lender.
Appears in 2 contracts
Sources: Loan and Security Agreement (Seven Arts Pictures PLC), Loan and Security Agreement (Seven Arts Pictures PLC)
Settling of Accounts. Each Borrower shall not settle or adjust any Account identified by such Borrower as an Eligible Account or with respect to which the Account Debtor is an Affiliate without the consent of Lender, provided, that following the occurrence and during the continuance of an Event of Default, such Borrower shall not settle or adjust any Account without the consent of Lender.
Appears in 2 contracts
Sources: Loan and Security Agreement (Novitron International Inc), Loan and Security Agreement (Cti Industries Corp)
Settling of Accounts. Borrower shall not settle or adjust any Account identified by Borrower as an Eligible Account except for such settlements and adjustments made in the ordinary course of business and in a manner consistent with past practices, or with respect to which the Account Debtor is an Affiliate without the consent of LenderAdministrative Agent, provided, that following the occurrence and during the continuance of an Event of Default, Borrower shall not settle or adjust any Account without the consent of LenderAdministrative Agent.
Appears in 2 contracts
Sources: Loan and Security Agreement (Cobra Electronics Corp), Loan and Security Agreement (Cobra Electronics Corp)
Settling of Accounts. Borrower shall not settle or adjust any Account identified by Borrower as an Eligible Account or with respect to which the Account Debtor is an Affiliate without the consent of Lender, provided, that following the occurrence and during the continuance of an Event of Default, Borrower shall not settle or adjust any Account without the consent of Lender.
Appears in 2 contracts
Sources: Loan and Security Agreement (Cohen Phillip Ean), Loan and Security Agreement (Tarpon Industries, Inc.)
Settling of Accounts. Each Borrower shall not settle or adjust any Account identified by such Borrower as an Eligible Account or with respect to which the Account Debtor is an Affiliate without the consent of Lender, provided, that following the occurrence and during the continuance of an Event of Default, such Borrower shall not settle or adjust any Account without the consent of Lender.
Appears in 2 contracts
Sources: Loan and Security Agreement (Numatics Inc), Loan and Security Agreement (Digital Recorders Inc)
Settling of Accounts. Each Borrower shall not settle or adjust any Account identified by such Borrower as an Eligible Account or with respect to which the Account Debtor is an Affiliate without the consent of Lender, provided, that following the occurrence and during the continuance of an Event of DefaultDefault that has not been waived in writing by Lender, such Borrower shall not settle or adjust any Account without the consent of Lender.
Appears in 1 contract
Settling of Accounts. No Borrower shall not settle or adjust any Account identified by a Borrower as an Eligible Account in any material respect or any Account with respect to which the Account Debtor is an Affiliate Affiliate, in each case without the consent of Lender, provided, that following the occurrence and during the continuance of an Event of Default, no Borrower shall not settle or adjust any Account without the consent of Lender.
Appears in 1 contract
Settling of Accounts. No Borrower shall not settle or adjust any Account identified by a Borrower as an Eligible Account or with respect to which the Account Debtor is an Affiliate without the consent of Lender, provided, that following the occurrence and during the continuance of an Event of Default, no Borrower shall not settle or adjust any Account without the consent of Lender.
Appears in 1 contract
Sources: Loan and Security Agreement (Smithway Motor Xpress Corp)
Settling of Accounts. Borrower Neither of the Borrowers shall not settle or adjust any Account identified by such Borrower as an Eligible Account or with respect to which the Account Debtor is an Affiliate without providing notice thereof to the consent of Lender, provided, that following the occurrence and during the continuance of an Event of Default, such Borrower shall not settle or adjust any Account without the consent of Lender.
Appears in 1 contract
Sources: Loan and Security Agreement (Wells Gardner Electronics Corp)
Settling of Accounts. Borrower Borrowers shall not settle or adjust any Account identified by Borrower Borrowers as an Eligible Account or with respect to which the Account Debtor is an Affiliate without the consent of Lender, provided, that following the occurrence and during the continuance of an Event of Default, Borrower Borrowers shall not settle or adjust any Account without the consent of Lender.
Appears in 1 contract
Sources: Credit and Security Agreement (Clark Holdings Inc.)
Settling of Accounts. Borrower shall not settle or adjust any Account identified by Borrower as an Eligible Account or with respect to which the Account Debtor is an Affiliate without the consent of Lender, except for ordinary course discounts, credits or allowances which reduce the availability set forth in Subsection (2)(a) of this Agreement provided, that following the occurrence and during the continuance of an Event of Default, Borrower shall not settle or adjust any Account without the consent of Lender.
Appears in 1 contract