No Additional Credit Sample Clauses

No Additional Credit. 8. (a) As of the effective date of this ORDER, the Bank shall not extend, directly or indirectly, any additional credit to, or for the benefit of, any borrower who has a loan or other extension of credit from the Bank that has been charged off or classified, in whole or in part, “Loss” or “Doubtful” and is uncollected. The requirements of this paragraph shall not prohibit the Bank from renewing (after collection in cash of interest due from the borrower) any credit already extended to any borrower.
Sample 1
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No Additional Credit. The Borrower acknowledges that the Banks continue to exercise their right to cease extending any additional credit under the Credit Agreement; provided, however, that unless and until a Standstill Termination occurs, the Banks will continue, pursuant to Section 1.6(c) of the Credit Agreement, to make Base Rate Loans to repay Reimbursement Obligations arising from drawings paid on Letters of Credit.
Sample 1
No Additional Credit. The Borrower acknowledges that the Banks have exercised their right to cease extending any additional credit under the Credit Agreement and that as a result, from and after the date of this letter, the Banks will not extend additional credit under the Revolving Credit and Xxxxxx Trust and Savings Bank will not extend additional credit under the Swing Line; provided, however, that unless and until a Standstill Termination occurs, the Banks will continue, pursuant to Section 1.6(c) of the Credit Agreement, to make Base Rate Loans to repay Reimbursement Obligations arising from drawings paid on Letters of Credit. Any failure by the Borrower to make any payment as and when required by this letter (including any payment required by the Borrowing Base provisions of the Credit Agreement as modified by this letter) shall be deemed an Event of Default under subsection 9.1(a) of the Credit Agreement entitling the Agent and the Banks to invoke the rights and remedies available upon the occurrence of such an Event of Default; and any other noncompliance with any of the terms, conditions or provisions of this letter shall be deemed an Event of Default under subsection 9.1(c) of the Credit Agreement after notice thereof to the Borrower in accordance with the terms of the Credit Agreement, in each case entitling the Agent and the Banks to invoke the rights and remedies available upon the occurrence of such a Default or Event of Default, as the case may be. The Defaults and Events of Default arising from any failure to pay as required by, or any other noncompliance with, this letter are in addition to the Events of Default currently set forth in the Credit Agreement.
Sample 1
No Additional Credit. During the Standstill Period, no new Revolving Credit Loans will be made by the Bank and no new Letters of Credit or LC Guaranties will be issued by the Bank. Any amounts paid or prepaid on the Revolving Credit Note may not be reborrowed. As was the case before, no amounts paid or prepaid on the Term Note may be reborrowed.
Sample 1

Related to No Additional Credit

  • Provisional Credit You acknowledge that the Rules make provisional any credit given for an entry until the financial institution crediting the account specified in the entry receives final settlement. If the financial institution does not receive final settlement, it is entitled to a refund from the credited party and the originator of the entry shall not be deemed to have paid the party.

  • Additional Credit Parties As soon as practicable and in any event within 30 days after any Person becomes a direct or indirect Domestic Subsidiary of the Borrower, the Borrower shall provide the Agent with written notice thereof setting forth information in reasonable detail describing all of the assets of such Person and shall (a) cause such Person to execute a Joinder Agreement in substantially the same form as Schedule 7.12, (b) cause 100% of the capital stock of such Person to be delivered to the Agent (together with undated stock powers signed in blank) and pledged to the Agent pursuant to an appropriate pledge agreement(s) in substantially the form of the Pledge Agreement and otherwise in form acceptable to the Agent and (c) cause such Person to (i) if such Person has any Domestic Subsidiaries, (A) deliver 100% of the capital stock of such Subsidiaries (together with undated stock powers signed in blank) to the Agent and (B) execute a pledge agreement in substantially the form of the Pledge Agreement and otherwise in form acceptable to the Agent, (ii) if such Person owns or leases any real property located in the United States of America and deemed to be material by the Agent or the Required Lenders in its or their sole reasonable discretion, execute any and all necessary mortgages, deeds of trust, deeds to secure debt or other appropriate real estate collateral documentation in form acceptable to the Agent and (iii) deliver such other documentation as the Agent may reasonably request in connection with the foregoing, including, without limitation, appropriate UCC-1 financing statements, real estate title insurance policies, environmental reports, landlord's waivers, certified resolutions and other organizational and authorizing documents of such Person and favorable opinions of counsel to such Person (which shall cover, among other things, the legality, validity, binding effect and enforceability of the documentation referred to above), all in form, content and scope reasonably satisfactory to the Agent.

  • No Additional Capital Contributions Except as otherwise provided in this Article V, no Partner shall be required to make additional Capital Contributions to the Partnership without the consent of such Partner or permitted to make additional capital contributions to the Partnership without the consent of the General Partner.

  • No Additional Collateral The Mortgage Note is not and has not been secured by any collateral except the lien of the corresponding Mortgage and the security interest of any applicable security agreement or chattel mortgage referred to in clause (j) above;

  • Total Credit Award GO-Biz, upon approval by the Committee and conditioned upon the requirements set forth in this Agreement, will award Taxpayer a California Competes Tax Credit ("CCTC") in the amount of one hundred thousand dollars ($100,000.00) (“Credit”). Specifically, Taxpayer is receiving a CCTC against the “net tax” as defined in RTC section 17039, or the “tax” as defined in RTC section 23036, as applicable, pursuant to RTC section 17059.2 or 23689, as applicable.

  • No Additional Payments There is no obligation on the part of the Company or any other party to make payments in addition to those made by the Mortgagor;

  • Incremental Credit Extensions (a) The Borrower may, at any time after the Closing Date, on one or more occasions pursuant to an Incremental Facility Agreement, (i) add one or more new tranches of term facilities (each new tranche, a “New Incremental Term Facility”) and/or increase the principal amount of the Term Loans of any existing Class by requesting new commitments to provide such Term Loans (each increase, an “Incremental Increase Facility”; together with any New Incremental Term Facility, “Incremental Term Facilities” and any loans made pursuant to an Incremental Term Facilities, “Incremental Term Loans”) and/or (ii) add one or more new tranches of Incremental Revolving Commitments (each new tranche, a “New Incremental Revolving Facility”) and/or increase the aggregate amount of the Revolving Credit Commitments of any existing Class (each increase, a “Revolving Commitment Increase”; together with any New Incremental Revolving Facility, “Incremental Revolving Facilities” and, together with any Incremental Term Facility, “Incremental Facilities”; and the loans thereunder, “Incremental Revolving Loans” and any Incremental Revolving Loans, together with any Incremental Term Loans, “Incremental Loans”) in an aggregate outstanding principal amount not to exceed the Incremental Cap; provided that:

  • No Outstanding Loans or Other Extensions of Credit The Company does not have any outstanding extension of credit, in the form of a personal loan, to or for any director or executive officer (or equivalent thereof) of the Company except for such extensions of credit as are expressly permitted by Section 13(k) of the Exchange Act.

  • No Additional Consideration For the avoidance of doubt, the transfer of any Assets under this Section 2.8 shall be effected without any additional consideration by either party.

  • Original Creation You represent that each of Your Contributions is Your original creation (see section 8 for submissions on behalf of others). You represent that Your Contribution submissions include complete details of any third-party license or other restriction (including, but not limited to, related patents and trademarks) of which you are personally aware and which are associated with any part of Your Contributions.

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