Financing of Accounts Sample Clauses

Financing of Accounts. Section 2.1.1(b) of the Loan Agreement hereby is amended and restated in its entirety to read as follows:
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Financing of Accounts. Section 2.1.1(b) is amended in its entirety and replaced with the following:
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Financing of Accounts. The second sentence of Section 2.1.1 is deleted in its entirety and replaced with the following: “Subject to all terms, conditions and limitations set forth herein, the aggregate face amount of all Financed Receivables outstanding at any time may not exceed Fifty Million Dollars ($50,000,000.00) (the “Facility Amount”), and the aggregate amount of all outstanding Advances at any time may not exceed the Net Availability Amount.”
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Financing of Accounts. Section 2.1.1(b) of the Loan Agreement is hereby amended by deleting it in its entirety and replacing it with the following:
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Financing of Accounts. The Credit Extensions by Bank to Borrower for the financing of Accounts in accordance with this Section 2.1.1 shall be referred to as the “Accounts Financing Facility.” Subject to all terms, conditions and limitations set forth herein, the aggregate face amount of all Financed Receivables outstanding at any time may not exceed Seven Million Five Hundred Thousand Dollars ($7,500,000) (the “Facility Amount”), and the aggregate amount of all outstanding Advances at any time may not exceed Six Million Dollars ($6,000,000).
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Financing of Accounts. Section 2.1.1 of the Loan Agreement is hereby amended by adding clauses (g) immediately after clause (f) of Section 2.1.1 of the Loan Agreement as follows:
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Financing of Accounts. Borrower shall present to Lender Eligible Accounts for financing pursuant to this Agreement in the Availability Certificate. Borrower agrees that it will do all of its business through Lender as Borrower’s sole lender and Borrower hereby assigns to Lender, as its sole lender, all Accounts to act as Borrower’s sole collection agent and for Lender to collect on Borrower’s behalf. Lender shall be under no obligation to finance Borrower’s Accounts and shall only finance Accounts in its sole discretion. Unless Lender notifies Borrower to the contrary as to a specific Account, all Accounts shall be deemed assigned by Borrower to Lender to act as Borrower’s sole collection agent upon presentment by Borrower. Although an Account may appear on an Availability Certificate multiple times, the Account shall only be financed, if at all, or deemed assigned for collection, the first time such Account appears on an Availability Certificate.
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Financing of Accounts. (a) Availability.
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Financing of Accounts 
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Related to Financing of Accounts

  • Crediting of Accounts If PFPC Trust in its sole discretion credits an Account with respect to (a) income, dividends, distributions, coupons, option premiums, other payments or similar items on a contractual payment date or otherwise in advance of PFPC Trust's actual receipt of the amount due, (b) the proceeds of any sale or other disposition of assets on the contractual settlement date or otherwise in advance of PFPC Trust's actual receipt of the amount due or (c) provisional crediting of any amounts due, and (i) PFPC Trust is subsequently unable to collect full and final payment for the amounts so credited within a reasonable time period using reasonable efforts or (ii) pursuant to standard industry practice, law or regulation PFPC Trust is required to repay to a third party such amounts so credited, or if any Property has been incorrectly credited, PFPC Trust shall have the absolute right in its sole discretion without demand to reverse any such credit or payment, to debit or deduct the amount of such credit or payment from the Account, and to otherwise pursue recovery of any such amounts so credited from the Fund. Nothing herein or otherwise shall require PFPC Trust to make any advances or to credit any amounts until PFPC Trust's actual receipt thereof. The Fund hereby grants a first priority contractual possessory security interest in and a right of setoff against the assets maintained in an Account hereunder in the amount necessary to secure the return and payment to PFPC Trust of any advance or credit made by PFPC Trust (including charges related thereto) to such Account.

  • Investment of Accounts (a) To the extent there are uninvested amounts deposited in the Series Accounts, the Issuer shall cause such amounts to be invested in Permitted Investments selected by the Issuer that mature no later than the immediately preceding Transfer Date.

  • Statement of Accounts The Company shall provide to the Director, within one hundred twenty (120) days after each anniversary of this Agreement, a statement setting forth the Deferral Account balance.

  • Collection of Accounts 43 5.4 Payments ............................................................................. 44 5.5 Authorization to Make Loans .......................................................... 44 5.6

  • Payment of Accounts (a) Each of Company and each Eligible Subsidiary will irrevocably direct all of its present and future Account Debtors and other Persons obligated to make payments constituting Collateral to make such payments directly to the lockboxes maintained by Company and each Eligible Subsidiary (the "Lockboxes") with North Fork Bank, the Royal Bank of Canada or such other financial institution accepted by Laurus in writing as may be selected by Company and/or any Eligible Subsidiary (collectively, the "Lockbox Bank") pursuant to the terms of the documentation acceptable to Laurus. On or prior to the Closing Date, each of Company and each Eligible Subsidiary shall and shall cause the Lockbox Bank to enter into all such documentation acceptable to Laurus pursuant to which, among other things, the Lockbox Bank agrees to: (a) sweep the Lockbox on a daily basis and deposit all checks received therein to an account designated by Laurus in writing and (b) comply only with the instructions or other directions of Laurus concerning the Lockbox. All of Company's and each Eligible Subsidiary's invoices, account statements and other written or oral communications directing, instructing, demanding or requesting payment of any Account of Company or any Eligible Subsidiary or any other amount constituting Collateral shall conspicuously direct that all payments be made to the Lockbox or such other address as Laurus may direct in writing. If, notwithstanding the instructions to Account Debtors, Company or any Eligible Subsidiary receives any payments, Company or such Eligible Subsidiary, as the case may be, shall immediately remit such payments to Laurus in their original form with all necessary endorsements. Until so remitted, Company and each Eligible Subsidiary shall hold all such payments in trust for and as the property of Laurus and shall not commingle such payments with any of its other funds or property.

  • Debit of Accounts Bank may debit any of Borrower’s deposit accounts, including the Designated Deposit Account, for principal and interest payments or any other amounts Borrower owes Bank when due. These debits shall not constitute a set-off.

  • Statement of Account 5.1 Sending periodic statement of account We will send you a statement of account on a monthly or other periodic basis as we deem fit but we may not send you a statement of account for any period during which your card account is inactive or has been terminated.

  • Investment of Account Assets a. All contributions to the custodial account shall be invested in the shares of the Provident Trust Mutual Funds, Inc. or, if available, any other series of Provident Trust Mutual Funds, Inc. or other regulated investment companies for which Provident Trust Company serves as Investment Advisor or designates as being eligible for investment. Shares of stock of an Investment Company shall be referred to as “Investment Company Shares”. To the extent that two or more funds are available for investment, contributions shall be invested in accordance with the depositor’s investment election.

  • Location of accounts The Borrower shall promptly:

  • Maintenance of Loan Account; Statements of Account (a) The Administrative Agent shall maintain an account on its books in the name of the Borrowers (each, the “Loan Account”) which will reflect (i) all Revolving Credit Loans and other advances made by the Lenders to the Borrowers or for the Borrowers’ account, (ii) all Letter of Credit Disbursements, fees and interest that have become payable as herein set forth, and (iii) any and all other monetary Obligations that have become payable.

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