Common use of Streamline Period Clause in Contracts

Streamline Period. Borrowers may, at their option, elect not to have any Advances outstanding during specified periods of time (each, a “Streamline Period”). At least 5 days prior to requesting that a Streamline Period be put into effect, Borrowers shall give Bank written notice thereof, specifying the date the Streamline Period is to begin. On or prior to the Business Day immediately preceding the commencement of the Streamline Period, Borrowers will pay to Bank, by wire transfer, an amount sufficient to repay in full all outstanding Advances, all accrued interest thereon, and all other outstanding monetary Obligations then due hereunder. A Streamline Period may not be put into effect if there are outstanding Obligations in connection with Cash Management Services in excess of $500,000. Notwithstanding the foregoing, a Streamline Period may be permitted to exist even if Advances are outstanding so long as the Trigger Availability is in excess of $3,000,000 at all times during such period. During a Streamline Period, Borrowers will not be permitted to incur Obligations in connection with Cash Management Services in an amount more than $500,000 and no additional Letters of Credit will be issued. During a Streamline Period, Borrowers may not request any Advances, and Bank shall have no obligation to make any Advances. To terminate a Streamline Period, Borrowers shall provide Bank at least 15 days prior written notice thereof together with such information relating to the Eligible Accounts, the Cash Management Services Sublimit and other Collateral as Bank may reasonably request.

Streamline Period. Borrowers may, at their option, elect not to have any Advances outstanding during specified periods of time (each, a “Streamline Period”). At least 5 days prior to requesting that a Streamline Period be put into effect, Borrowers shall give Bank written notice thereof, specifying the date the Streamline Period is to begin. On or prior to the Business Day immediately preceding the commencement of the Streamline Period, Borrowers will pay to Bank, by wire transfer, an amount sufficient to repay in full all outstanding Advances, all accrued interest thereon, and all other outstanding monetary Obligations then due hereunder. A Streamline Period may not be put into effect if there are outstanding Obligations in connection with Cash Management Services in excess of $500,000. Notwithstanding the foregoing, a Streamline Period may be permitted to exist even if Advances are outstanding so long as the Trigger Availability is in excess Borrowers maintain a Quick Ratio of $3,000,000 at least 1.10:1.00 at all times during such period. During a Streamline Period, Borrowers will not be permitted to incur Obligations in connection with Cash Management Services in an amount more than $500,000 and no additional Letters of Credit will be issued. During a Streamline Period, Borrowers may not request any Advances, and Bank shall have no obligation to make any Advances. To terminate a Streamline Period, Borrowers shall provide Bank at least 15 days prior written notice thereof together with such information relating to the Eligible Accounts, the Cash Management Services Sublimit and other Collateral as Bank may reasonably request.

Streamline Period. Borrowers Borrower may, at their its option, elect not to have any Advances outstanding during specified periods of time (each, a “Streamline Period”). At least 5 10 days prior to requesting that a Streamline Period be put into effect, Borrowers Borrower shall give Bank written notice thereof, specifying the date the Streamline Period is to begin. On or prior to the Business Day immediately preceding the commencement of the Streamline Period, Borrowers Borrower will pay to Bank, by wire transfer, an amount sufficient to repay in full all outstanding Advances, all accrued interest thereon, and all other outstanding monetary Obligations then due hereunderObligations. A Streamline Period may not be put into effect if (i) there are outstanding Obligations in connection with Cash Management Services in excess of Five Hundred Thousand Dollars ($500,000. Notwithstanding the foregoing), a Streamline Period may be permitted to exist or (ii) there are any issued (even if Advances are outstanding so long as the Trigger Availability is in excess undrawn) Letters of $3,000,000 at all times during such periodCredit. During a Streamline Period, Borrowers Borrower will not be permitted to incur Obligations in connection with Cash Management Services (as defined below) in an amount more than Five Hundred Thousand Dollars ($500,000 500,000) in the aggregate at any time outstanding, and no additional Letters of Credit will be issued. During a Streamline Period, Borrowers Borrower may not request any Advances, and Bank shall have no obligation to make any Advances. To terminate a Streamline Period, Borrowers Borrower shall provide Bank at least 15 30 days prior written notice thereof together with such information relating to the Eligible Accounts, the Cash Management Services Sublimit Domestic Accounts and Eligible Foreign Accounts and other Collateral as Bank may reasonably requestspecify.