Terms and Conditions of Use. The Borrower shall receive the line of credit during it's term, in whole or in part, in one or many advances of money, provided that the total amount of sums owing in capital on those advances does not exceed the amount of the line of credit indicated in section 2 of this agreement and that he is not in default under the terms of this agreement. These advances shall be paid so as to cover the cheques drawn on his account no. SAISIE and the withdrawals made from that account, provided that the purposes for which the cheques are drawn or the withdrawals made comply with the Program and, as the case may be, with the use specified on the certificate. The first advance shall be disbursed when all the applicable conditions of the certificate have been met to the satisfaction of the Lender, when the required securities have been adequately pledged and when the deed for those securities has been duly registered.
Appears in 6 contracts
Samples: Credit Agreement, Credit Agreement, Credit Agreement
