IBM Credit without waiving or releasing any Obligation or Default of the Customer, may perform any Obligations of the Customer that the Customer shall fail or refuse to perform and IBM Credit may, at any time or times hereafter, but shall be under no obligation so to do, pay, acquire or accept any assignment of any security interest, lien, encumbrance or claim against the Collateral asserted by any person. All sums paid by IBM Credit in performing in satisfaction or on account of the foregoing and any expenses, including reasonable attorney's fees, court costs, and other charges relating thereto, shall be a part of the Obligations, payable on demand and secured by the Collateral.
IBM Credit may apply any payments and Supplier Credits received by IBM Credit to reduce finance charges first and then to principal amounts of Advances owed by Customer. IBM Credit may apply principal payments to the oldest (earliest) invoices (and related Product Advances) first, but, in any case, all principal payments will be applied in respect of the Outstanding Product Advances made for Products which have been sold, lost, stolen, destroyed, damaged or otherwise disposed of prior to any other application thereof.
IBM Credit. IBM Credit may, upon written notice to Borrower, cease to include a supplier as an Authorized Supplier.
IBM Credit s notification to any Account debtors thereon of IBM Credit's security interest in any of the Accounts;
IBM Credit without waiving or releasing any Obligation or Default of any Loan Party, may perform any Obligations of the any Loan Party that any Loan Party shall fail or refuse to perform and IBM Credit may, at any time or times hereafter, but shall be under no obligation to do so, pay, acquire or accept any assignment of any security interest, lien, encumbrance or claim against the Collateral asserted by any person. All sums paid by IBM Credit in performing in satisfaction or on account of the foregoing and any expenses, including reasonable attorney's fees, court costs, and other charges relating thereto, shall be a part of the Obligations, payable on demand and secured by the Collateral.
IBM Credit. By /s/ Thomas Curcio ------------------------------------- Title: Manager of Credit STEIN ROE FLOATING RATE LIMITEX LIABILITY COMPANY By ------------------------------------- Title: STEIN ROE AND FARNHAM INCORPORXXXX AS AGENT FOR KEYPORT LIFE INSURANCE COMPANY By ------------------------------------- Title:
IBM Credit. Nothing herein shall impose any obligation on IBM Credit to sell participations in any Obligations hereunder or to enter into any Participation Agreement and IBM Credit shall have no liability for its failure to do so."
IBM Credit s agreement under subparagraph (f) of the Letter Agreement to defer the requirement to further reduce the collateral value of the Nonstandard Collateral (as defined in the Letter Agreement) monthly, therefore, terminated on January 18, 1999. Pulsar Data Systems, Inc. -2- March 8, 1999
IBM Credit may in its sole discretion from time to time decide the amount of credit IBM Credit extends to Customer, notwithstanding any prior course of conduct between IBM Credit and Customer. IBM Credit may combine all of its advances to make one debt owed by Customer. IBM Credit may in its sole discretion decide the amount of funds, if any, IBM Credit will advance on any products Customer may seek to acquire. Customer agrees that any decision to finance products will not be binding on IBM Credit until such time as the funds are actually advanced by IBM Credit.
IBM Credit. Any Supplier Credits collected by IBM Credit shall in no way reduce Customers' debt to IBM Credit in respect of the Outstanding Product Advances until such Supplier Credits are applied by IBM Credit, which in each case shall be applied promptly by IBM Credit; provided, however, that in the event such discount, credit, rebate or bonus must be returned or disgorged or is otherwise unavailable for application, then Customers' Obligations will be reinstated as if such discount, credit, rebate or bonus had never been applied.".
