Common use of Credit Exposure Clause in Contracts

Credit Exposure. No more than ten percent (10%) of the Borrower's Consolidated Net Worth shall be subject to credit risk from any single customer (including any Affiliate of such customer) unless such accounts receivable are supported by a letter of credit issued or confirmed by a financial institution acceptable to the Agent.

Appears in 2 contracts

Samples: Credit Agreement (Palex Inc), Secured Credit Agreement (Palex Inc)

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Credit Exposure. No more than ten percent (10%) of the Borrower's Consolidated Net Worth shall be subject to credit risk from any single customer (including any Affiliate of such customer) unless such accounts receivable are supported by a letter of credit issued or confirmed by a financial institution acceptable to the AgentLender.

Appears in 1 contract

Samples: Credit Agreement (Palex Inc)

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Credit Exposure. No more than ten percent (10%) of the --------------- Borrower's Consolidated Net Worth shall be subject to credit risk from any single customer (including any Affiliate of such customer) unless such accounts receivable are supported by a letter of credit issued or confirmed by a financial institution acceptable to the Agent.

Appears in 1 contract

Samples: Secured Credit Agreement (Palex Inc)

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