Common use of Advances through Loan Manager Clause in Contracts

Advances through Loan Manager. If Xxxxx Fargo has separately agreed that Company may use the Xxxxx Fargo Loan Manager service (“Loan Manager”), Line of Credit Advances will be initiated by Xxxxx Fargo and credited to the Operating Account as Floating Rate Advances as of the end of each Business Day in an amount sufficient to maintain an agreed upon ledger balance in the Operating Account, subject only to Line of Credit availability as provided in Section 1.1(a). If Xxxxx Fargo terminates Company’s access to Loan Manager, Company may continue to request Line of Credit Advances as provided in Section 1.3(a)(i). Xxxxx Fargo shall have no obligation to make an Advance through Loan Manager during a Default Period, or in an amount in excess of Line of Credit availability, and may terminate Loan Manager at any time in its sole discretion.

Appears in 3 contracts

Samples: Credit and Security Agreement (Pinnacle Data Systems Inc), Credit and Security Agreement (Capstone Turbine Corp), Credit and Security Agreement (Capstone Turbine Corp)

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Advances through Loan Manager. If Xxxxx Wxxxx Fargo has separately agreed that Company may use the Xxxxx Wxxxx Fargo Loan Manager service (“Loan Manager”), Line of Credit Advances will be initiated by Xxxxx Wxxxx Fargo and credited to the Operating Account as Floating Rate Advances as of the end of each Business Day in an amount sufficient to maintain an agreed upon ledger balance in the Operating Account, subject only to Line of Credit availability as provided in Section 1.1(a). If Xxxxx Wxxxx Fargo terminates Company’s access to Loan Manager, Company may continue to request Line of Credit Advances as provided in Section 1.3(a)(i). Xxxxx Wxxxx Fargo shall have no obligation to make an Advance through Loan Manager during a Default Period, or in an amount in excess of Line of Credit availability, and may terminate Loan Manager at any time in its sole discretion.

Appears in 2 contracts

Samples: Wells Fargo Business Credit Credit and Security Agreement (Iridex Corp), Credit and Security Agreement (Iridex Corp)

Advances through Loan Manager. If Xxxxx Fargo has separately agreed that Company Parent may use the Xxxxx Fargo Loan Manager service (“Loan Manager”), Line of Credit Advances will be initiated by Xxxxx Fargo and credited to the Operating Account as Floating Rate Advances as of the end of each Business Day in an amount sufficient to maintain an agreed upon ledger balance in the Operating Account, subject only to Line of Credit availability as provided in Section 1.1(a). If Xxxxx Fargo terminates CompanyParent’s access to Loan Manager, Company Parent may continue to request Line of Credit Advances as provided in Section 1.3(a)(i1.3(b). Xxxxx Fargo shall have no obligation to make an Advance through Loan Manager during a Default Period, or in an amount in excess of Line of Credit availability, and may terminate Loan Manager at any time in its sole discretion.. Advances through Loan Manager shall not be made as Fixed Rate Advances

Appears in 2 contracts

Samples: Credit and Security Agreement (Tandy Brands Accessories Inc), Credit and Security Agreement (Tandy Brands Accessories Inc)

Advances through Loan Manager. If Xxxxx Fargo has separately agreed that Company may use the Xxxxx Fargo Loan Manager service (“Loan Manager”), Line of Credit Advances will be initiated by Xxxxx Fargo and credited to the Operating Account as Floating Rate Advances as of the end of each Business Day in an amount sufficient to maintain an agreed upon ledger balance in the Operating Account, subject only to Line of Credit availability as provided in Section 1.1(a). If Xxxxx Fargo terminates Company’s access to Loan Manager, Company may continue to request Line of Credit Advances as provided in Section 1.3(a)(i1.3(b). Xxxxx Fargo shall have no obligation to make an Advance through Loan Manager during a Default Period, or in an amount in excess of Line of Credit availability, and may terminate Loan Manager at any time in its sole discretion. Xxxxx Fargo will use its best efforts to promptly notify Company of the termination of Loan Manager. Advances through Loan Manager shall not be made as Fixed Rate Advances.

Appears in 2 contracts

Samples: Credit and Security Agreement (Analysts International Corp), Credit and Security Agreement (Analysts International Corp)

Advances through Loan Manager. If Xxxxx Fargo has separately agreed that Company Companies may use the Xxxxx Fargo Loan Manager service (“Loan Manager”), Line of Credit Advances will be initiated by Xxxxx Fargo and credited to the Operating Account as Floating Rate Advances as of the end of each Business Day in an amount sufficient to maintain an agreed upon ledger balance in the Operating Account, subject only to Line of Credit availability as provided in Section 1.1(a). If Xxxxx Fargo terminates Company’s Companies’ access to Loan Manager, Company Funds Administrator may continue to request Line of Credit Advances as provided in Section 1.3(a)(i). Xxxxx Fargo shall have no obligation to make an Advance through Loan Manager during a Default Period, or in an amount in excess of Line of Credit availability, and may terminate Loan Manager at any time in its sole discretion.

Appears in 2 contracts

Samples: Credit and Security Agreement (Phoenix Footwear Group Inc), Credit and Security Agreement (Phoenix Footwear Group Inc)

Advances through Loan Manager. If Xxxxx Wxxxx Fargo has separately agreed that Company may use the Xxxxx Wxxxx Fargo Loan Manager service ("Loan Manager"), Line of Credit Advances will be initiated by Xxxxx Wxxxx Fargo and credited to the Operating Account as Floating Rate Advances as of the end of each Business Day in an amount sufficient to maintain an agreed upon ledger balance in the Operating Account, subject only to Line of Credit availability as provided in Section 1.1(a). If Xxxxx Wxxxx Fargo terminates Company’s 's access to Loan Manager, Company may continue to request Line of Credit Advances as provided in Section 1.3(a)(i1.3(b). Xxxxx Wxxxx Fargo shall have no obligation to make an Advance through Loan Manager during a Default Period, or in an amount in excess of Line of Credit availability, and may terminate Loan Manager at any time in its sole discretion.

Appears in 1 contract

Samples: Credit and Security Agreement (Emcore Corp)

Advances through Loan Manager. If Xxxxx Fargo has separately agreed that Company may use the Xxxxx Fargo Loan Manager service (“Loan Manager”), Line of Credit Advances will be initiated by Xxxxx Fargo and credited to the Operating Account as Floating Rate Advances as of the end of each Business Day in an amount sufficient to maintain an agreed upon ledger balance in the Operating Account, subject only to Line of Credit availability as provided in Section 1.1(a). If Xxxxx Fargo terminates Company’s access to Loan Manager, Company may continue to request Line of Credit Advances as provided in Section 1.3(a)(i1.3(b). Xxxxx Fargo shall have no obligation to make an Advance through Loan Manager during a Default Period, or in an amount in excess of Line of Credit availability, and may terminate Loan Manager at any time in its sole discretion.

Appears in 1 contract

Samples: Credit and Security Agreement (Nortech Systems Inc)

Advances through Loan Manager. If Xxxxx Fargo has separately agreed that Company may use the Xxxxx Fargo Loan Manager service (“Loan Manager”), Line of Credit Advances will be initiated by Xxxxx Fargo and credited to the Operating Account as Floating Rate Advances as of the end of each Business Day in an amount sufficient to maintain an agreed upon ledger balance in the Operating Account, subject only to Line of Credit availability as provided in Section 1.1(a). If Xxxxx Fargo terminates Company’s access to Loan Manager, Company may continue to request Line of Credit Advances as provided in this Section 1.3(a)(i)1.3. Xxxxx Fargo shall have no obligation to make an Advance through Loan Manager during a Default Period, or in an amount in excess of Line of Credit availability, and may terminate Loan Manager at any time in its sole discretion.

Appears in 1 contract

Samples: Credit and Security Agreements (CAPSTONE TURBINE Corp)

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Advances through Loan Manager. If Xxxxx Wxxxx Fargo has separately agreed that Company may use the Xxxxx Wxxxx Fargo Loan Manager service (“Loan Manager”), Line of Credit (but not Term Loan) Advances will be initiated by Xxxxx Wxxxx Fargo and credited to the Operating Account as Floating Rate Advances as of the end of each Business Day in an amount sufficient to maintain an agreed upon ledger balance in the Operating Account, subject only to Line of Credit availability as provided in Section 1.1(a). If Xxxxx Wxxxx Fargo terminates Company’s access to Loan Manager, Company may continue to request Line of Credit Advances as provided in Section 1.3(a)(i). Xxxxx Wxxxx Fargo shall have no obligation to make an Advance through Loan Manager during a Default Period, or in an amount in excess of Line of Credit availability, and may terminate Loan Manager at any time in its sole discretion.

Appears in 1 contract

Samples: Credit and Security Agreement (Merrimac Industries Inc)

Advances through Loan Manager. If Xxxxx Fargo has separately agreed that Company may use the Xxxxx Fargo Loan Manager service ("Loan Manager"), Line of Credit Advances will be initiated by Xxxxx Fargo and credited to the Operating Account as Floating Rate Advances as of the end of each Business Day in an amount sufficient to maintain an agreed upon ledger balance in the Operating Account, subject only to Line of Credit availability as provided in Section 1.1(a). If Xxxxx Fargo terminates Company’s 's access to Loan Manager, Company may continue to request Line of Credit Advances as provided in Section 1.3(a)(i). Xxxxx Fargo shall have no obligation to make an Advance through Loan Manager during a Default Period, or in an amount in excess of Line of Credit availability, and may terminate Loan Manager at any time in its sole discretion.

Appears in 1 contract

Samples: Credit and Security Agreement (Southwall Technologies Inc /De/)

Advances through Loan Manager. If Xxxxx Fargo has separately agreed that Company may use the Xxxxx Fargo Loan Manager service (“Loan Manager”), Line of Credit Advances will be initiated by Xxxxx Fargo and credited to the Operating Account as Floating Rate Advances as of the end of each Business Day in an amount sufficient to maintain an agreed upon ledger balance in the Operating Account, subject only to Line of Credit availability as provided in Section 1.1(a). If Xxxxx Fargo terminates Company’s access to Loan Manager, Company may continue to request Line of Credit Advances as provided in Section 1.3(a)(i1.3(b). Xxxxx Fargo shall have no obligation to make an Advance through Loan Manager during a Default Period, or in an amount in excess of Line of Credit availability, and may terminate Loan Manager at any time in its sole discretion. Advances through Loan Manager shall not be made as Fixed Rate Advances.

Appears in 1 contract

Samples: Credit and Security Agreement (Physicians Formula Holdings, Inc.)

Advances through Loan Manager. If Xxxxx Wxxxx Fargo has separately agreed that Company may use the Xxxxx Wxxxx Fargo Loan Manager service (“Loan Manager”), Line of Credit Advances will be initiated by Xxxxx Wxxxx Fargo and credited to the Operating Account as Floating Rate Advances as of the end of each Business Day in an amount sufficient to maintain an agreed upon ledger balance in the Operating Account, subject only to Line of Credit availability as provided in Section 1.1(a). If Xxxxx Wxxxx Fargo terminates Company’s 's access to Loan Manager, Company may continue to request Line of Credit Advances as provided in Section 1.3(a)(i1.3(b). Xxxxx Wxxxx Fargo shall have no obligation to make an Advance through Loan Manager during a Default Period, or in an amount in excess of Line of Credit availability, and may terminate Loan Manager at any time in its sole discretion.

Appears in 1 contract

Samples: Credit and Security Agreement (Spectranetics Corp)

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