Common use of Procedure for Revolving Advances Borrowing Clause in Contracts

Procedure for Revolving Advances Borrowing. (a) Borrowing Agent must notify Lender prior to 11:00 a.m. on a Business Day of Borrower’s request to incur, on that day, a Revolving Advance hereunder. Should any amount required to be paid as interest hereunder, or as fees or other charges under this Agreement or any other agreement with Lender, or with respect to any other Obligation, become due, same shall be deemed a request for a Revolving Advance as of the date such payment is due, in the amount required to pay in full such interest, fee, charge or Obligation under this Agreement or any other agreement with Lender, and such request shall be irrevocable.

Appears in 1 contract

Samples: Security Agreement (Franklin Electronic Publishers Inc)

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Procedure for Revolving Advances Borrowing. (a) Borrowing Agent must Borrower may notify Lender prior to 11:00 a.m. on a Business Day of Borrower’s its request to incur, on that day, a Revolving Advance hereunder. Should any amount required to be paid as interest hereunder, or as fees or other charges due from Borrower under this Agreement or any other agreement with Lender, or with respect to any other Obligation, become due, same shall be deemed a request for a Revolving Advance as of the date such payment is due, in the amount required to pay in full such interest, fee, charge or Obligation under this Agreement or any other agreement with Lender, and such request shall be irrevocable.

Appears in 1 contract

Samples: Credit and Security Agreement (Prima Group International Inc)

Procedure for Revolving Advances Borrowing. (a) Borrowing Agent must The Borrower may notify the Lender prior to 11:00 10:00 a.m. on a Business Day of Borrower’s its request to incur, on that day, a Revolving Advance hereunder. Should any amount required to be paid as interest hereunder, or as fees or other charges under this Agreement or any other agreement with the Lender, or with respect to any other Obligation, become due, same shall be deemed a request for a Revolving Advance as of the date such payment is due, in the amount required to pay in full such interest, fee, charge or Obligation under this Agreement or any other agreement with the Lender, and such request shall be irrevocable.

Appears in 1 contract

Samples: Credit Agreement (Cold Metal Products Inc)

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Procedure for Revolving Advances Borrowing. (a) Borrowing Agent must The Borrowers may notify the Lender prior to 11:00 a.m. on a Business Day of Borrower’s their request to incur, on that day, a Revolving Advance hereunder. Should any amount required to be paid as interest hereunder, or as fees or other charges under this Agreement or any other agreement with Lender, or with respect to any other Obligation, become due, same shall be deemed a request for a Revolving Advance as of the date such payment is due, in the amount required to pay in full such interest, fee, charge or Obligation under this Agreement or any other agreement with Lender, and such request shall be irrevocable.

Appears in 1 contract

Samples: Credit and Security Agreement (Canisco Resources Inc)

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