Common use of PRIMARY DEPOSITORY RELATIONSHIP Clause in Contracts

PRIMARY DEPOSITORY RELATIONSHIP. If the Company fails to maintain its Primary Operating Account with the Lender, interest shall accrue on the Loans at a per annum rate of 1.0% above the rate of interest that otherwise would be applicable, effective as of the first day following the day on which the Company moves its Primary Operating Account.

Appears in 2 contracts

Samples: Loan Agreement (Execustay Corp), Loan and Security Agreement (Halifax Corp)

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PRIMARY DEPOSITORY RELATIONSHIP. If the Company fails ------------------------------- to maintain its Primary Operating Account with the Lender, interest shall accrue on the Loans at a per annum rate of 1.0% above the rate of interest that otherwise would be applicable, effective as of the first day following the day on which the Company moves its Primary Operating Account.

Appears in 1 contract

Samples: Security Agreement (Sra International Inc)

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PRIMARY DEPOSITORY RELATIONSHIP. If the Company Borrower fails to maintain its Primary Operating Account with the Lender, interest shall accrue on the Loans of the Borrower at a per annum rate of 1.0% above the rate of interest that otherwise would be applicable, effective as of the first day following the day on which the Company Borrower moves its Primary Operating Account.

Appears in 1 contract

Samples: Loan and Security Agreement (Ace Comm Corp)

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