Bank Actions Sample Clauses
The "Bank Actions" clause defines the rights and procedures available to a bank when certain events occur under an agreement, such as a default or breach by the other party. Typically, this clause outlines the specific steps the bank may take, which can include freezing accounts, accelerating repayment obligations, or initiating collection actions. By clearly specifying the bank's permitted responses, this clause ensures that both parties understand the consequences of non-compliance and provides the bank with legal mechanisms to protect its interests and recover funds if necessary.
Bank Actions. Any determination to be made or actions to be taken by or on behalf of the Bank under this Agreement shall be made or taken in consultation with the Board.
Bank Actions. On or after the date hereof, Silicon Valley Bank shall not have notified the Company of its acceleration of any amounts due to Silicon Valley Bank or taken any other action to collect any such amounts or realize the benefit of any security interest in the Company's assets.
Bank Actions. Without limiting any other provision of this Agreement, the Bank: (i) may rely upon any oral, telephonic, facsimile, electronic written or other communication believed by it in good faith to have been authorized by any Applicant, the Beneficiary or anyone acting for any of them; (ii) shall not be responsible for errors, omissions, interruptions or delays in transmission or delivery of any message, advice or document in connection with any Credit, whether transmitted by courier, mail, telecommunication or otherwise, or for errors in interpretation of technical terms or in translation; (iii) shall not be responsible for the identity or authority of any signer or the form, accuracy, genuineness or legal effect of any draft, certificate or other document presented under any Credit; and (iv) may accept as a draft any written or electronic demand or other request for payment under any Credit, even if such demand or other request is not in the form of a negotiable draft; provided that none of the foregoing shall be construed to excuse the gross negligence or willful misconduct of the Bank.
Bank Actions. 6.1 The Debtor hereby authorizes the Bank to:
6.1.1 file such financing statements and other documents and do such acts, matters and things (including completing and adding schedules hereto identifying the Collateral or any permitted Encumbrances affecting the Collateral or identifying the locations at which the Debtor’s business is carried on and the Collateral and records relating thereto are situate) as the Bank may deem appropriate to perfect and continue the security constituted hereby, to protect and preserve the Collateral and to realize upon the security constituted hereby and the Debtor hereby irrevocably constitutes and appoints the Bank the true and lawful attorney of the Debtor, with full power of substitution, to do any of the foregoing in the name of the Debtor whenever and wherever it may be deemed necessary or expedient by the Bank; and
6.1.2 make enquiries from time to time of any governmental authority with respect to the Debtor’s compliance with Environmental Laws and the Debtor agrees that the Debtor will from time to time provide to the Bank with such written authorization as the Bank may reasonably require in order to facilitate the obtaining of such information.
6.2 The Bank may charge for its reasonable costs incurred in connection with any disclosure requirements under the PPSA.
6.3 If the Debtor fails to perform any of its Obligations hereunder, the Bank may, but shall not be obliged to, perform any or all of such Obligations without prejudice to any other rights and remedies of the Bank hereunder, and any payments made and any costs, charges, expenses and legal fees and disbursements (on a solicitor and his own client basis) incurred in connection therewith shall be payable by the Debtor to the Bank forthwith with interest until paid at the highest rate borne by any of the Obligations and such amounts shall form part of the Obligations and constitute a charge upon the Collateral in favour of the Bank prior to all claims subsequent to this General Security Agreement.
6.4 The Debtor covenants and agrees that the Bank may, but shall be under no obligation to, at any time or times as the Bank deems necessary and without the concurrence of the Debtor or any other person make such arrangements for the repairing, finishing and putting in order of the Premises, including, without limitation, such repairs, replacements and improvements as are necessary so that the Debtor and the Premises comply with Environmental Laws, and all reasonable ...