Common use of Borrower’s Loan Account Clause in Contracts

Borrower’s Loan Account. Agent shall maintain a loan account (the "Loan Account") on its internal data control systems in which shall be recorded (i) all loans and advances made by Agent or the Lenders to each Borrower or for each Borrower's account pursuant to this Agreement, including without limitation all Letter of Credit Obligations, (ii) all payments made by each Borrower or for each Borrower's account on all such loans and advances and Letter of Credit Obligations, and (iii) all other appropriate debits and credits as provided in this Agreement, including, without limitation, all interest, Fees, Expenses, and other charges, expenses and fees. All entries in each Borrower's Loan Account shall be made in accordance with Agent's customary accounting practices as in effect from time to time. Each Borrower will be credited, in accordance with Subsection 2.8 above, with all amounts received by or on behalf of Agent, the Lenders or the Issuing Bank from such Borrower or from others for such Borrower's account, including, as set forth above, all amounts received by Agent as set forth in Subsection 2.8(B). In no event shall prior recourse to any Accounts or other Collateral be a prerequisite to Agent's right to demand payment of any of the Liabilities upon its maturity. Further, Agent shall have no obligation whatsoever to perform in any respect any of a Borrower's contracts or obligations relating to the Accounts. Each Borrower promises to pay to Agent and Lenders the amount reflected as owing by it under its Loan Account and all of its other obligations hereunder and under any of the other Financing Agreements as such amounts become due or are declared due (whether by scheduled maturity, required prepayment, acceleration, demand or otherwise) pursuant to the terms of this Agreement and the other Financing Agreements. Unless otherwise agreed in writing from time to time hereafter, all payments which any Borrower is required to make to the Lenders and Agent under this Agreement or under any of the other Financing Agreements shall be made by appropriate debits to such Borrower's Loan Account. Agent may in its sole discretion elect to xxxx such Borrower for such amounts in which case the amount shall be immediately due and payable with interest thereon as provided herein.

Borrower’s Loan Account. Agent shall maintain a loan account (the "Loan Account") on its internal data control systems in which shall be recorded (i) all loans and advances made by Agent or the Lenders to each Borrower or for each Borrower's account pursuant to this Agreement, including without limitation all Letter of Credit Obligations, (ii) all payments made by each Borrower or for each Borrower's account on all such loans and advances and Letter of Credit Obligations, and (iii) all other appropriate debits and credits as provided in this Agreement, including, without limitation, all interest, Fees, Expenses, and other charges, expenses and fees. All entries in each Borrower's Loan Account shall be made in accordance with Agent's customary accounting practices as in effect from time to time. Each Borrower will be credited, in accordance with Subsection 2.8 2.7 above, with all amounts received by or on behalf of Agent, the Lenders or the Issuing Bank from such Borrower or from others for such Borrower's account, including, as set forth above, all amounts received by Agent as set forth in Subsection 2.8(B2.7(B). In no event shall prior recourse to any Accounts or other Collateral be a prerequisite to Agent's right to demand payment of any of the Liabilities upon its maturity. Further, Agent shall have no obligation whatsoever to perform in any respect any of a Borrower's contracts or obligations relating to the Accounts. Each Borrower promises to pay to Agent and Lenders the amount reflected as owing by it under its Loan Account and all of its other obligations hereunder and under any of the other Financing Agreements as such amounts become due or are declared due (whether by scheduled maturity, required prepayment, acceleration, demand or otherwise) pursuant to the terms of this Agreement and the other Financing Agreements. Unless otherwise agreed in writing from time to time hereafter, all payments which any Borrower is required to make to the Lenders and Agent under this Agreement or under any of the other Financing Agreements shall be made by appropriate debits to such Borrower's Loan Account. Agent may in its sole discretion elect to xxxx such bill Borrower for such amounts in which case the amount shall be immediately immexxxxely due and payable with interest thereon as provided herein.

Borrower’s Loan Account. Agent shall maintain a Lender may charge to Borrower’s loan account at any time the amounts of all Obligations (and interest, if any, thereon) owing by Borrower to Lender, including (without limitation) the "Loan Account") Loans, debts, liabilities, obligations acquired by purchase, assignment or participation and all other obligations, whenever arising, whether absolute or contingent and whether due or to become due; also the amount of all costs and expenses and all attorneys’ fees and legal expenses incurred in connection with efforts made to enforce payment of such obligations, or to obtain payment of any Receivables, or the foreclosure of any Collateral or in the prosecution or defense of any actions or proceedings relating in any way to this Agreement whether or not suit is commenced, including reasonable attorneys’ fees and legal expenses incurred in connection with any appeal of a lower court’s order or judgment; and also the amounts of all unpaid taxes and the like, owing by Borrower to any governmental authority or required to be deposited by Borrower, which Lender pays or deposits for Borrower’s account. All sums at any time standing to Borrower’s credit on its internal data control systems Lender’s books and all of Borrower’s property at any time in Lender’s possession or upon or in which shall Lender has a Security Interest, may be recorded (i) held by Lender as security for all loans obligations which are chargeable to Borrower’s loan account. Subject to the foregoing, Lender, at Borrower’s request, will remit to Borrower any net balance standing to Borrower’s credit on Lender’s books. Lender will account to Borrower monthly and advances made by Agent or the Lenders to each monthly accounting will be fully binding on Borrower, unless, within thirty days thereafter, Borrower or for each gives Lender specific written notice of exceptions. All debit balances in Borrower's ’s loan account pursuant to this Agreement, including without limitation all Letter of Credit Obligations, (ii) all payments made by each Borrower or for each Borrower's account on all such loans and advances and Letter of Credit Obligations, and (iii) all other appropriate debits and credits will bear interest as provided in Paragraph 5 of this Agreement, including, without limitation, all interest, Fees, Expenses, and other charges, expenses and fees. All entries in each Borrower's Loan Account shall be made in accordance with Agent's customary accounting practices as in effect from time to time. Each Borrower will be credited, in accordance with Subsection 2.8 above, with all amounts received by or on behalf of Agent, the Lenders or the Issuing Bank from such Borrower or from others for such Borrower's account, including, as set forth above, all amounts received by Agent as set forth in Subsection 2.8(B). In no event shall prior recourse to any Accounts or other Collateral be a prerequisite to Agent's right to demand payment of any of the Liabilities upon its maturity. Furtherevent, Agent shall have no obligation whatsoever to perform in any respect any of a Borrower's contracts or obligations relating to the Accounts. Each Borrower promises covenants to pay to Agent all Loans, debts, accounts and Lenders the amount reflected as owing by it under its Loan Account and all of its other obligations hereunder and under any of the other Financing Agreements as such amounts become due or are declared due (whether by scheduled maturity, required prepayment, acceleration, demand or otherwise) pursuant to the terms of this Agreement and the other Financing Agreements. Unless otherwise agreed in writing from time to time hereafter, all payments which any Borrower is required to make to the Lenders and Agent under this Agreement or under any of the other Financing Agreements shall be made by appropriate debits to such Borrower's Loan Account. Agent may in its sole discretion elect to xxxx such Borrower for such amounts in which case the amount shall be immediately due and payable with interest thereon as provided hereinwhen due.

Borrower’s Loan Account. Agent To the extent advances are made to Borrower by Lender, Lender shall maintain a enter such advances as debits in the Borrower's loan account. The Lender shall also record in the Borrower's loan account (the "Loan Account") on its internal data control systems in which shall be recorded (i) accordance with customary accounting practice all loans and advances made by Agent or the Lenders to each Borrower or for each Borrower's account pursuant to this Agreement, including without limitation all Letter of Credit Obligations, (ii) all payments made by each Borrower or for each Borrower's account on all such loans and advances and Letter of Credit Obligations, and (iii) all other appropriate debits and credits as provided in this Agreement, including, without limitation, all interest, Fees, Expenses, and other charges, expenses and feesother items properly chargeable to the Borrower; all payments made by the Borrower on account of indebtedness evidenced by the Borrower'S loan account; all proceeds of collateral which are finally paid to the Lender at its own office in cash or solvent credits; and other appropriate debits and credits. All entries in each The debit balance of the Borrower's Loan Account loan account shall be made in accordance with Agent's customary accounting practices as in effect from time to time. Each Borrower will be credited, in accordance with Subsection 2.8 above, with all amounts received by or on behalf reflect the amount of Agent, the Lenders or the Issuing Bank from such Borrower or from others for such Borrower's account, including, as set forth above, all amounts received by Agent as set forth in Subsection 2.8(B). In no event shall prior recourse to any Accounts or other Collateral be a prerequisite to Agent's right to demand payment of any of the Liabilities upon its maturity. Further, Agent shall have no obligation whatsoever to perform in any respect any of a Borrower's contracts or obligations relating indebtedness to the Accounts. Each Borrower promises to pay to Agent and Lenders the amount reflected as owing by it under its Loan Account and all of its other obligations hereunder and under any of the other Financing Agreements as such amounts become due or are declared due (whether by scheduled maturity, required prepayment, acceleration, demand or otherwise) pursuant to the terms of this Agreement and the other Financing Agreements. Unless otherwise agreed in writing Lender from time to time hereafterby reason of advances and other appropriate charges hereunder. At least once each month, all payments the Lender shall render a statement of account for the Borrower's loan account which any statement shall be considered correct and accepted by the Borrower is required to make and conclusively binding upon the Borrower unless it notifies the Lender to the Lenders and Agent under this Agreement or under any contrary within thirty (30) days of the other Financing Agreements shall be made sending of such statement by appropriate debits the Lender to such the Borrower. The Borrower understands that the Lender will use the maximum line of credit as set out in paragraph 1 as a maximum ceiling on advances under the line of credit. The debit balance of the Borrower's Loan Account. Agent loan account shall at no time exceed the maximum line of credit, and if at any time such excess does arise, the Borrower shall pay cash to the Lender to be credited to the Borrower's loan account in such amount as may in its sole discretion elect be necessary to xxxx eliminate such Borrower for such amounts in which case the amount shall be immediately due and payable with interest thereon as provided hereinexcess.

Borrower’s Loan Account. Agent shall maintain a Lender may charge to Borrower’s loan account at any time the amounts of all Obligations (and interest, if any, thereon) owing by Borrower to Lender, including (without limitation) loans, Advances, debts, liabilities, obligations acquired by purchase, assignment or participation and all other obligations, whenever arising, whether absolute or contingent and whether due or to become due; also the "Loan Account") amount of all costs and expenses and all attorneys’ fees and legal expenses incurred in connection with efforts made to enforce payment of such obligations, or to obtain payment of any Receivables, or the foreclosure of any Collateral or in the prosecution or defense of any actions or proceedings relating in any way to this Agreement whether or not suit is commenced, including reasonable attorneys’ fees and legal expenses incurred in connection with any appeal of a lower court’s order or judgment; and also the amounts of all unpaid taxes and the like, owing by Borrower to any governmental authority or required to be deposited by Borrower, which Lender pays or deposits for Borrower’s account. All sums at any time standing to Borrower’s credit on its internal data control systems Lender’s books and all of Borrower’s property at any time in Lender’s possession or upon or in which shall Lender has a Security Interest, may be recorded held by Lender as security for all obligations which are chargeable to Borrower’s loan account. Subject to the foregoing, Lender, at Borrower’s request, will remit to Borrower any net balance standing to Borrower’s credit on Lender’s books. Lender will account to Borrower monthly and each monthly accounting will be fully binding on Borrower, unless, within sixty (i60) all loans and advances made by Agent or the Lenders to each days thereafter, Borrower or for each gives Lender specific written notice of exceptions. All debit balances in Borrower's ’s loan account pursuant to this Agreement, including without limitation all Letter of Credit Obligations, (ii) all payments made by each Borrower or for each Borrower's account on all such loans and advances and Letter of Credit Obligations, and (iii) all other appropriate debits and credits will bear interest as provided in Paragraph 5 of this Agreement, including, without limitation, all interest, Fees, Expenses, and other charges, expenses and fees. All entries in each Borrower's Loan Account shall be made in accordance with Agent's customary accounting practices as in effect from time to time. Each Borrower will be credited, in accordance with Subsection 2.8 above, with all amounts received by or on behalf of Agent, the Lenders or the Issuing Bank from such Borrower or from others for such Borrower's account, including, as set forth above, all amounts received by Agent as set forth in Subsection 2.8(B). In no event shall prior recourse to any Accounts or other Collateral be a prerequisite to Agent's right to demand payment of any of the Liabilities upon its maturity. Further, Agent shall have no obligation whatsoever to perform in any respect any of a Borrower's contracts or obligations relating to the Accounts. Each Borrower promises to pay to Agent and Lenders the amount reflected as owing by it under its Loan Account and all of its other obligations hereunder and under any of the other Financing Agreements as such amounts become due or are declared due (whether by scheduled maturity, required prepayment, acceleration, demand or otherwise) pursuant to the terms of this Agreement and the other Financing Agreements. Unless otherwise agreed in writing from time to time hereafter, all payments which any Borrower is required to make to the Lenders and Agent under this Agreement or under any of the other Financing Agreements shall be made by appropriate debits to such Borrower's Loan Account. Agent may in its sole discretion elect to xxxx such Borrower for such amounts in which case the amount shall be immediately due and payable with interest thereon as provided herein.

Borrower’s Loan Account. Agent shall maintain a loan account (the "Loan Account") on its internal data control systems in which shall be recorded (i) all loans and advances made by Agent or the Lenders to each Borrower or for each Borrower's account pursuant to this Agreement, including without limitation all Letter of Credit Obligations, (ii) all payments made by each Borrower or for each Borrower's account on all such loans and advances and Letter of Credit Obligations, and (iii) all other appropriate debits and credits as provided in this Agreement, including, without limitation, all interest, Fees, Expenses, and other charges, expenses and fees. All entries in each Borrower's Loan Account shall be made in accordance with Agent's customary accounting practices as in effect from time to time. Each Borrower will be credited, in accordance with Subsection 2.8 2.7 above, with all amounts received by or on behalf of Agent, the Lenders or the Issuing Bank from such Borrower or from others for such Borrower's account, including, as set forth above, all amounts received by Agent as set forth in Subsection 2.8(B2.7(B). In no event shall prior recourse to any Accounts or other Collateral be a prerequisite to Agent's right to demand payment of any of the Liabilities upon its maturity. Further, Agent shall have no obligation whatsoever to perform in any respect any of a Borrower's contracts or obligations relating to the Accounts. Each Borrower promises to pay to Agent and Lenders the amount reflected as owing by it under its Loan Account and all of its other obligations hereunder and under any of the other Financing Agreements as such amounts become due or are declared due (whether by scheduled maturity, required prepayment, acceleration, demand or otherwise) pursuant to the terms of this Agreement and the other Financing Agreements. Unless otherwise agreed in writing from time to time hereafter, all payments which any Borrower is required to make to the Lenders and Agent under this Agreement or under any of the other Financing Agreements shall be made by appropriate debits to such Borrower's Loan Account. Agent may in its sole discretion elect to xxxx such Borrower for such amounts in which case the amount shall be immediately due and payable with interest thereon as provided herein.