Common use of Structure of Credit Facility Clause in Contracts

Structure of Credit Facility. Each Borrower hereby agrees that Lender shall have the right, in its sole discretion, to do any or all of the following in connection with the credit facility established by this Agreement: (i) establish a separate “borrowing base” for each Borrower, (ii) advance a Loan specifically to a specific Borrower, based on such Borrower’s availability under its own “borrowing base”, (iii) establish separate lockbox and dominion accounts for each Borrower, and (iv) establish such other procedures as shall be deemed by Lender to be useful in tracking where Loans are made under this Agreement and the source of payments received by Lender on such Loans. In addition to and not in limitation of the foregoing, Borrowers hereby agree and acknowledge that the present intention of Lender is to advance future Loans directly to such Borrower whose assets provide the Availability for such Loan to be used by such Borrower for its working capital and other purposes relevant to the normal conduct of such Borrower’s business.

Structure of Credit Facility. Each Borrower agrees and acknowledges that the present structure of the credit facilities detailed in this Agreement is based in part upon the financial and other information presently known to Lender regarding each Borrower, the corporate structure of Borrowers, and the present financial condition of each Borrower. Each Borrower hereby agrees that Lender shall have the right, in its sole discretion, at any time to do require that any or all of the following in connection with the changes be made to these credit facility established by this Agreementfacilities: (i) establish a separate “"borrowing base” " for each Borrower, (ii) advance a Revolving Credit Loan specifically to a specific Borrower, based on such Borrower’s 's availability under its own “"borrowing base”," (iii) restrict loans and advances between Borrowers, (iiiiv) establish separate lockbox and dominion accounts for each Borrower, and (ivv) establish such other procedures as shall be deemed by Lender to be useful in tracking where Loans are made under this Agreement and the source of payments received by Lender on such Loans. In addition to and not in limitation of the foregoing, Borrowers hereby agree and acknowledge that the present intention of Lender is to advance future Loans directly to such Borrower whose assets provide the Availability for such Loan to be used by such Borrower for its working capital and other purposes relevant to the normal conduct of such Borrower’s business.

Structure of Credit Facility. Each Borrower agrees and acknowledges that the present structure of the credit facilities detailed in this Agreement is based in part upon the financial and other information presently known to Lender regarding each Borrower, the corporate structure of Borrowers, and the present financial condition of each Borrower. Each Borrower hereby agrees that Lender shall have the right, in its sole discretioncredit judgment, at any time to do require that any or all of the following in connection with the changes be made to these credit facility established by this Agreementfacilities: (i) establish a separate “"borrowing base” " for each Borrower, (ii) advance a Revolving Credit Loan specifically to a specific Borrower, based on such Borrower’s 's availability under its own “"borrowing base”", (iii) restrict loans and advances between Borrowers, (iv) establish separate lockbox and dominion accounts for each Borrower, and (ivv) establish such other procedures as shall be reasonably deemed by Lender to be useful in tracking where Loans are made under this Agreement and the source of payments received by Lender on such Loans. In addition to and not in limitation of the foregoing, Borrowers hereby agree and acknowledge that the present intention of Lender is to advance future Loans directly to such Borrower whose assets provide the Availability for such Loan to be used by such Borrower for its working capital and other purposes relevant to the normal conduct of such Borrower’s business."

Structure of Credit Facility. Each Borrower agrees and acknowledges that the present structure of the credit facility detailed in this Agreement is based in part upon the financial and other information presently known to Agent and Lenders regarding each Borrower, the organizational structure of Borrowers, and the present financial condition of each Borrower. Each Borrower hereby agrees that Lender upon the occurrence of a Default, Agent shall have the right, in its sole discretioncredit judgment, to do require that any or all of the following in connection with the changes be made to this credit facility established by this Agreementfacility: (i) establish a separate “"borrowing base” " for each Borrower, (ii) advance a Revolving Credit Loan specifically to a specific Borrower, based on such Borrower’s 's availability under its own “"borrowing base”", (iii) restrict loans and advances between Borrowers, (iv) establish separate lockbox and dominion accounts for each Borrower, and (ivv) establish such other procedures as shall be reasonably deemed by Lender Agent to be useful in tracking where Loans are made under this Agreement and the source of payments received by Lender Agent on such Loans. In addition to and not in limitation of the foregoing, Borrowers hereby agree and acknowledge that the present intention of Lender is to advance future Loans directly to such Borrower whose assets provide the Availability for such Loan to be used by such Borrower for its working capital and other purposes relevant to the normal conduct of such Borrower’s business."