Acceptance Period. With respect to the drafts for which the Applicant applies for the Bank’s acceptance, the period between the expiry date thereof and the acceptance date shall not exceed 180 days; provided, however, that if the drafts are issued for repayment of the loan borrowed for purchasing raw materials hereunder, the expiry date thereof shall not go beyond the due date for repaying such loan.
Appears in 4 contracts
Samples: General Credit Facility Agreement (Hardinge Inc), General Credit Facility Agreement (Hardinge Inc), General Credit Facility Agreement (Hardinge Inc)
Acceptance Period. With respect to the drafts for which the Applicant applies for the Bank’s 's acceptance, the period between the expiry date thereof and the acceptance date shall not exceed 180 days; provided, however, that if the drafts are issued for repayment of the loan borrowed for purchasing raw materials hereunder, the expiry date thereof shall not go beyond the due date for repaying such loan.
Appears in 1 contract