Verification of Receivables Sample Clauses

Verification of Receivables. The Bank may at any time, either orally or in writing, request confirmation from any debtor of the current amount and status of the accounts receivable upon which such debtor is obligated.

Verification of Receivables. Bank may at any time, either orally or in writing, request confirmation from any debtor of the current amount and status of the accounts receivable upon which such debtor is obligated.

Verification of Receivables. Borrower will submit annual account receivable, account payable and business debt schedules to Lender, each in form and substance reasonably acceptable to Lender, within 90 days of Borrower’s fiscal year-end. Upon the occurrence of an Event of Default and the continuation thereof beyond any applicable cure period, any of Lender’s officers, authorized representatives, employees or agents shall have the right, at any time, in ▇▇▇▇▇▇’s sole and absolute discretion, in the name of Lender, or in the name of any designee of Lender or Borrower, to verify the validity, amount or any other matter relating to any Receivable by mail, telephone, telegraph, or otherwise, and Borrower shall cooperate fully with Lender in an effort to facilitate and promptly conclude any such verification process;

Verification of Receivables. The Bank shall have the right to make test verifications of Receivables in any manner and through any medium that it considers advisable, and the Borrower agrees to furnish all such assistance and information as the Bank may require in connection therewith. The Borrower at its expense will cause either independent certified public accountants or, if agreeable to the Bank in its sole discretion, the Borrower's chief financial officer, to furnish to the Bank at any time and from time to time promptly upon the Bank's request, the following reports: (i) a reconciliation of all Receivables, (ii) an aging of all Receivables, (iii) trial balances and (iv) a test verification of such Receivables as the Bank may request.

Verification of Receivables. If an Event of Default exists, the Lender may confirm and verify all Accounts in any reasonable manner. In such circumstance, the Borrower shall assist the Lender in confirmation and verification of the Accounts. If no Event of Default exists, the Lender and the Borrower shall in good faith coordinate the verification of all Accounts. The Lender may at any time after an Event of Default exists, notify or require the Borrower to notify, all of the Borrower's Account Debtors or any of them to make payment directly to the Lender to the extent not already provided by the Lock Box. The Lender may enforce collection of, settle, compromise, extend or renew the indebtedness of any or all of the Borrower's Account Debtors after an Event of Default exists.

Verification of Receivables. FGI shall have the right to confirm and verify all Receivables by any manner and through any medium it considers advisable and do whatever it may deem reasonably necessary to protect its interest under this Deed.

Verification of Receivables. The Bank may at any time prior to the occurrence and continuation of any Potential Default or Default, upon three Bank Day's notice to Borrower, and thereafter, at any time, either orally or in writing, request confirmation from any debtor of the current amount and status of the accounts receivable upon which such debtor is obligated.

Verification of Receivables. 1. The Parties shall determine the value of the Net Receivables of the Business as at the Closing Date that shall be transferred to the Purchaser in accordance with the provisions of Schedule 4. For the purpose of this Clause 6 and Schedule 4, Net Receivables) means the excess of receivables and related short term assets in excess of payables and related short term liabilities, excluding any fixed assets transferred. 2. When the Net Receivables have been finally agreed or determined in accordance with the provisions of Schedule 4, if the amount of the Net Receivables is less than US$2,700,000, then the Seller shall pay an amount equal to the difference to the Purchaser. If the amount of the Net Receivables is more than US$2,700,000, then the Purchaser shall pay an amount equal to the difference to the Seller. 3. The Seller and Purchaser agree that, once the Net Receivables have been agreed or determined in accordance with the provisions of Schedule 4, the Seller or, as the case may be, the Purchaser, shall make any applicable payment within 5 Business Days of the date on which the Net Receivables are agreed or so determined. Any such payment shall be made in accordance with the provisions of clause 22 of this Agreement.

Verification of Receivables. Bank may at any time after an Event of Default or upon written consent from Borrower which consent may not be reasonably withheld, either orally or in writing, request confirmation from any debtor of the current amount and status of the accounts receivable upon which such debtor is obligated.