AMOUNTS PAYABLE ON DEMAND. If the Borrower shall fail to pay on demand any amount so payable under this Agreement, the Bank may, at its option and without any obligation to do so and without waiving any default occasioned by the Borrower having so failed to pay such amount, create an Advance under this Agreement in an amount equal to the amount so payable, which Advance shall thereafter bear interest as provided hereunder.
Appears in 24 contracts
Samples: Credit Agreement (Guidance Software, Inc.), Credit Agreement (Biolase Technology Inc), Credit Agreement (Biolase Technology Inc)
AMOUNTS PAYABLE ON DEMAND. If the Borrower shall fail to pay on demand any amount so payable under this Agreement, the Bank may, at its option and without any obligation to do so and without waiving any default occasioned by the Borrower having so failed to pay such amount, create an Advance under this Agreement the Line of Credit in an amount equal to the amount so payable, which Advance shall thereafter bear interest as provided hereunderunder the Line of Credit.
Appears in 7 contracts
Samples: 1998 Credit Agreement (Align Rite International Inc), Credit Agreement (PMR Corp), Accounts Receivable Credit Agreement (Elexsys International Inc)
AMOUNTS PAYABLE ON DEMAND. If the Borrower shall fail fails to pay on demand any amount so payable under this Agreement, the Bank may, at its option and without any obligation to do so and without waiving any default occasioned by the Borrower having so failed Borrower's failure to pay such amount, create an Advance under this Agreement in an amount equal to the amount so payable, which Advance shall thereafter bear interest as provided hereunderunder the Line of Credit.
Appears in 7 contracts
Samples: Line of Credit Agreement (Scheid Vineyards Inc), Credit Agreement (Diamond Multimedia Systems Inc), Line of Credit Agreement (Maxwell Laboratories Inc /De/)
AMOUNTS PAYABLE ON DEMAND. If the Borrower shall fail to pay on demand any amount so payable under this Agreement, the Bank may, at its option and without any obligation to do so and without waiving any default occasioned by the Borrower having so failed to pay such amount, create an Advance under this Agreement in an amount equal to the amount so payable, which Advance shall thereafter bear interest as provided hereunder.. 9.2
Appears in 2 contracts
Samples: Agreement (Golden State Vintners Inc), Agreement (Golden State Vintners Inc)
AMOUNTS PAYABLE ON DEMAND. If the Borrower Borrowers shall fail to pay on demand any amount so payable under this Agreement, the Bank may, at its option and without any obligation to do so and without waiving any default occasioned by the Borrower Borrowers having so failed to pay such amount, create an Advance under this Agreement in an amount equal to the amount so payable, which Advance shall thereafter bear interest as provided hereunder.
Appears in 2 contracts
Samples: Credit Agreement (Osi Systems Inc), Credit Agreement (Tag It Pacific Inc)
AMOUNTS PAYABLE ON DEMAND. If the Borrower shall fail to pay on demand any amount so payable under this Agreement, ; the Bank may, at its option and without any obligation to do so and without waiving any default occasioned by the Borrower having so failed to pay such amount, create an Advance under this Agreement in an amount equal to the amount so payable, which Advance shall thereafter bear interest as provided hereunder.
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AMOUNTS PAYABLE ON DEMAND. If the Borrower shall fail fails to pay on demand any amount so payable under this Agreement, the Bank may, at its option and without any obligation to do so and without waiving any default occasioned by the Borrower having so failed Borrower's failure to pay such amount, create an Advance under this Agreement in an amount equal to the amount so payable, which Advance shall thereafter bear interest as provided hereundera Variable Rate Advance.
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