Returned Instruments. If a payment is made by check, draft or other instrument and the check, draft or other instrument is returned unpaid, any application of the payment to the Loan Obligations will be reversed and will be treated as never having been made.
Appears in 18 contracts
Sources: Credit Facilities Agreement (Young Innovations Inc), Credit Agreement (Young Innovations Inc), Credit Facilities Agreement (MTM Technologies, Inc.)
Returned Instruments. If a payment is made by check, draft or other instrument and the check, draft or other instrument is returned unpaid, any the application of the payment to the Loan Obligations will be reversed and will be treated as never having been made.
Appears in 5 contracts
Sources: Loan Agreement (Omniquip International Inc), Loan Agreement (Insituform Technologies Inc), Loan Agreement (Labarge Inc)
Returned Instruments. If a payment is made by check, draft or other instrument and the check, draft or other instrument is returned unpaid, any the application of the payment to the Loan Obligations Obligation will be reversed and will be treated as never having been made.
Appears in 1 contract
Sources: Credit Agreement (Osullivan Industries Holdings Inc)