Common use of Verification of Receivables Clause in Contracts

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.

Appears in 2 contracts

Sources: Loan Agreement (Fresh America Corp), Business Loan Agreement (Fresh America Corp)