Common use of Line of Credit Clause in Contracts

Line of Credit. This Agreement evidences a revolving line of credit. Advances under this Agreement, as well as directions for payment from Borrower's accounts, may be requested orally or in writing by Borrower or by an authorized person. Lender may, but need not, require that all oral requests be confirmed in writing. Borrower agrees to be liable for all sums either: (a) advanced in accordance with the instructions of an authorized person or (b) credited to any of Borrower's accounts with Lender. The unpaid principal balance owing on this Agreement at any time may be evidenced by endorsements on this Agreement or by Lender's internal records, including daily computer print-outs. Lender will have no obligation to advance funds under this Agreement if: (a) Borrower or any guarantor is in default under the terms of this Agreement or any agreement that Borrower or any guarantor has with Lender, including any agreement made in connection with the signing of this Agreement; (

Appears in 9 contracts

Sources: Loan Agreement (SCC Communications Corp), Business Loan Agreement (Large Scale Biology Corp), Loan Agreement (Scientific Software Intercomp Inc)

Line of Credit. This Agreement evidences a revolving line of credit. Advances under this Agreement, as well as directions for payment from Borrower's accounts, may be requested orally or in writing by Borrower or by an authorized person. Lender may, but need not, require that all oral requests be confirmed in writing. Borrower agrees to be liable for all sums either: (a) advanced in accordance with the instructions of an authorized person or (b) credited to any of Borrower's accounts account with Lender. The unpaid principal balance owing on this Agreement at any time may be evidenced by endorsements on this Agreement or by Lender's internal records, including daily computer print-outs. Lender will have no obligation to advance funds under this Agreement if: (a) Borrower or any guarantor is in default under the terms of this Agreement or any agreement that Borrower or any guarantor has with Lender, including any agreement made in connection with the signing of this Agreement; (

Appears in 2 contracts

Sources: Change in Terms Agreement (Scientific Software Intercomp Inc), Change in Terms Agreement (Scientific Software Intercomp Inc)

Line of Credit. This Agreement Note evidences a revolving line of credit. Advances under this AgreementNote, as well as directions for payment from Borrower's accounts, may be requested orally or in writing by Borrower or by an authorized person. Lender may, but need not, require that all oral requests be confirmed in writing. Borrower agrees to be liable for all sums either: (a) advanced in accordance with the instructions of an authorized person or (b) credited to any of Borrower's accounts with Lender. The unpaid principal balance owing on this Agreement Note at any time may be evidenced by endorsements on this Agreement Note or by Lender's internal records, including daily computer print-outs. Lender will have no obligation to advance funds under this Agreement Note if: (a) Borrower or any guarantor is in default under the terms of this Agreement Note or any agreement that Borrower or any guarantor has with Lender, including any agreement made in connection with the signing of this AgreementNote; (

Appears in 2 contracts

Sources: Business Loan Agreement (Spectrian Corp /Ca/), Promissory Note (International Integration Inc)

Line of Credit. This Agreement evidences a revolving line of credit. Advances under this Agreement, as well as directions for payment from Borrower's accounts, Agreement may be requested either orally or in writing by Borrower or by an authorized person. Lender may, but need not, require that all oral requests be confirmed in writing. All communications, instructions, or directions by telephone or otherwise to Lender are to be directed to Lender's office shown above. Borrower agrees to be liable for all sums either: (aA) advanced in accordance with the instructions of an authorized person or (bB) credited to any of Borrower's accounts with Lender. The unpaid principal balance owing on this Agreement at any time may be evidenced by endorsements on this Agreement or by Lender's Lenders internal records, including daily computer print-outs. Lender will have no obligation to advance funds under this Agreement if: (aA) Borrower or any guarantor is in In default under the terms of this Agreement or any agreement that Borrower or any guarantor has with Lender, including any agreement made in connection with the signing of this Agreement; (;

Appears in 1 contract

Sources: Change in Terms Agreement (Visionics Corp)

Line of Credit. This Agreement evidences a revolving line of credit. Advances under this Agreement, as well as directions for payment from Borrower's accounts, Agreement may be requested orally or in writing by Borrower or by an authorized person. Lender may, but need not, require that all All oral requests shall be confirmed in writingwriting on the day of the request. All communications, instructions, or directions by telephone or otherwise to Lender are to be directed to Lender's office shown above. Borrower agrees to be liable for all sums either: (a) advanced in accordance with the instructions of an authorized person or (b) credited to any of Borrower's accounts with Lender. The unpaid principal balance owing on this Agreement at any time may be evidenced by endorsements endorsement on this Agreement or by Lender's internal eternal records, including daily computer print-outs. Lender will have no obligation to advance funds under this Agreement if: (a) Borrower or any guarantor is in default under the terms of this Agreement or any agreement that Borrower or any guarantor has with Lender, including any agreement made in connection with the signing of this Agreement; (

Appears in 1 contract

Sources: Change in Terms Agreement (Allin Corp)

Line of Credit. This Agreement Note evidences a revolving line of credit. Advances under this AgreementNote, as well as directions for payment from Borrower's accounts, may be requested orally or in writing by Borrower or by an authorized person. Lender may, but need not, require that all oral requests be confirmed in writing. Borrower agrees to be liable for all sums either: (a) advanced in accordance with the instructions of an authorized person or (b) credited to any of Borrower's accounts with Lender. The unpaid principal balance owing ow'ng on this Agreement Note at any time may be evidenced by endorsements on this Agreement Note or by Lender's Lenders internal records, including daily computer print-outs. Lender will have no obligation to advance funds under this Agreement Note if: (a) Borrower or any guarantor is in default under the terms of this Agreement Note or any agreement that Borrower or any guarantor has with Lender, including any agreement made in connection with the signing of this AgreementNote; (

Appears in 1 contract

Sources: Business Loan Agreement (Solopoint Inc)

Line of Credit. This Agreement Note evidences a revolving line of credit. Advances under this AgreementNote, as well as directions for payment from Borrower▇▇▇▇▇▇▇▇'s accounts, may be requested orally or in writing by Borrower or by an authorized person. Lender may, but need not, require that all oral requests be confirmed in writing. Borrower ▇▇▇▇▇▇▇▇ agrees to be liable for all sums either: (a) advanced in accordance with the instructions of an authorized person or (b) credited to any of Borrower▇▇▇▇▇▇▇▇'s accounts with Lender▇▇▇▇▇▇. The unpaid principal balance owing on this Agreement Note at any time may be evidenced by endorsements on this Agreement Note or by Lender▇▇▇▇▇▇'s internal records, including daily computer print-outs. Lender will have no obligation to advance funds under this Agreement Note if: (a) Borrower or any guarantor is in default under the terms of this Agreement Note or any agreement that Borrower or any guarantor has with Lender, including any agreement made in connection with the signing of this AgreementNote; (

Appears in 1 contract

Sources: Disbursement Request and Authorization (Regeneration Technologies Inc)

Line of Credit. This Agreement evidences a revolving line of credit. Advances under this Agreement, as well as directions for payment from Borrower's accounts, Agreement may be requested either orally or in writing by Borrower or by an authorized person. Lender may, but need not, require that all oral requests be confirmed in writing. All communications, instructions, or directions by telephone or otherwise to Lender are to be directed to Lender's office shown above. Borrower agrees to be liable for all sums either: (a) advanced in accordance with the instructions of an authorized person or (b) credited to any of Borrower's accounts with Lender. The unpaid principal balance owing on this Agreement at any time may be evidenced by endorsements on this Agreement or by Lender's internal records, including daily computer print-outs. Lender will have no obligation to advance funds under this Agreement if: (a) Borrower or any guarantor is in default under the terms of this Agreement or any agreement that Borrower or any guarantor has with Lender, including any agreement made in connection with the signing of this Agreement; (

Appears in 1 contract

Sources: Change in Terms Agreement (Medicalcv Inc)

Line of Credit. This Agreement evidences a revolving line of credit. Advances under this Agreement, as well as directions for payment from Borrower's accounts, may be requested orally or in writing by Borrower or by an authorized person. Lender may, but need not, require that all oral requests be confirmed in writing. Borrower agrees to be liable for all sums either: (a) advanced in accordance with the instructions of an authorized person or (b) credited to any of Borrower's accounts with Lender. The unpaid principal balance owing on this Agreement at any time may be evidenced by endorsements on this Agreement Note or by Lender's internal records, including daily computer print-outs. Lender will have no obligation to advance funds under this Agreement if: (a) Borrower or any guarantor is in default under the terms of this Agreement or any agreement that Borrower or any guarantor has with Lender, including any agreement made in connection with the signing of this Agreement; (

Appears in 1 contract

Sources: Change in Terms Agreement (Scientific Software Intercomp Inc)

Line of Credit. This Agreement Subject to the paragraph entitled `Payment", this Note evidences a revolving line of credit. Advances credit advances under this AgreementNote, as well as directions for payment from Borrower's accounts, may be requested orally or in writing by Borrower or by an authorized person. Lender may, but need not, require that all oral requests be confirmed in writing. Borrower agrees to be liable for all sums either: either (a) advanced in accordance with the instructions of an authorized person or (b) credited to any of Borrower's accounts with Lender. The unpaid principal balance owing on this Agreement Note at any time may be evidenced by endorsements on this Agreement Note or by Lender's internal records, including daily computer print-outs. Lender will have no obligation to advance funds under this Agreement Note if: (a) Borrower or any guarantor is in default under the terms of this Agreement Note or any agreement that Borrower or any guarantor has with Lender, including any agreement made in connection with the signing of this AgreementNote; (

Appears in 1 contract

Sources: Promissory Note (Rosetta Inpharmatics Inc)

Line of Credit. This Agreement evidences a revolving line of credit. Advances under this Agreement, as well as directions for payment from Borrower's accounts, Agreement may be requested either orally or in writing by Borrower or by an authorized person. Lender may, but need not, require that all oral requests be confirmed in writing. All communications, instructions, or directions by telephone or otherwise to Lender are to be directed to Lender's office shown above. Borrower agrees to be liable for all sums either: (a) advanced in accordance with the instructions of an authorized person or (b) credited to any of Borrower's Borrowers accounts with Lender. The unpaid principal balance owing on this Agreement at any time may be evidenced by endorsements on this Agreement or by Lender's Lenders internal records, including daily computer print-outs. Lender will have no obligation to advance funds under this Agreement if: (a) Borrower or any guarantor is in default under the terms of this Agreement or any agreement that Borrower or any guarantor has with Lender, including any agreement made in connection with the signing of this Agreement; (

Appears in 1 contract

Sources: Change in Terms Agreement (Digital Biometrics Inc)