Common use of Facility A Loans Clause in Contracts

Facility A Loans. The amount of each Facility-A Loan made by Bank to Borrower hereunder shall be debited to the loan ledger account of Borrower maintained by Bank for the Facility-A Commitment (herein called the "Facility-A Loan Account") and Bank shall credit the Facility-A Loan Account with all loan repayments in respect thereof made by Borrower. When Borrower desires to obtain a Facility-A Loan, Borrower shall notify Bank (which notice shall be signed by an officer of Borrower and shall be irrevocable) in accordance with SECTION 2 hereof, to be received no later than 3:00 p.m. Pacific time one (1) Banking Day (as hereinafter defined) before the day on which the Facility-A Loan is to be made. Facility-A Loans may only be used for working capital purposes and the issuance of letters of credits.

Appears in 5 contracts

Samples: Loan Agreement (Metawave Communications Corp), Loan Agreement (Metawave Communications Corp), Loan Agreement (Metawave Communications Corp)

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Facility A Loans. The amount of each Facility-A Loan loan made by Bank to Borrower hereunder shall be debited to the loan ledger account of Borrower maintained by Bank for the Facility-A Commitment (herein called the "Facility-A Loan Account") and Bank shall credit the Facility-A Loan Account with all loan repayments in respect thereof made by Borrower. When Borrower desires to obtain a Facility-A Loan, Borrower shall notify Bank (which notice shall be signed by an officer of Borrower and shall be irrevocable) in accordance with SECTION Section 2 hereof, to be received no later than 3:00 p.m. Pacific time one (1) Banking Day (as hereinafter defined) before the day on which the Facility-A Loan is to be made. Facility-A Loans may only be used for working capital purposes and the issuance of letters of creditspurposes.

Appears in 1 contract

Samples: Loan Agreement (Tut Systems Inc)

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Facility A Loans. The amount of each Facility-A Loan made by Bank to Borrower hereunder shall be debited to the loan ledger account of Borrower maintained by Bank for the Facility-A Commitment (herein called the "Facility-A Loan Account") and Bank shall credit the Facility-A Loan Account with all loan repayments in respect thereof made by Borrower. When Borrower desires to obtain a Facility-A Loan, Borrower shall notify Bank (which notice shall be signed by an officer of Borrower and shall be irrevocable) in accordance with SECTION 2 Section 4 hereof, to be received no later than 3:00 p.m. Pacific time one (1) Banking Day (as hereinafter defined) business day before the day on which the Facility-A Loan is to be made. Facility-A Loans may only be used for general corporate and working capital purposes and the issuance of letters of creditspurposes.

Appears in 1 contract

Samples: Security and Loan Agreement (Excite Inc)

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