Common use of ACH Transactions and Swap Contracts Clause in Contracts

ACH Transactions and Swap Contracts. The Borrowers may request and the Lender or its Affiliates may, in their sole and absolute discretion, provide ACH Transactions and Swap Contracts. In the event the Borrowers request Lender or its Affiliates to procure ACH Transactions or Swap Contracts, then the Borrowers agree to indemnify and hold the Lender or its Affiliates harmless from any and all obligations now or hereafter owing to the Lender or its Affiliates. The Borrowers agree to pay the Lender or its Affiliates all amounts owing to the Lender or its Affiliates pursuant to ACH Transactions and Swap Contracts. In the event the Borrowers shall not have paid to the Lender or its Affiliates such amounts, the Lender may cover such amounts by an advance under the Revolving Loan, which advance shall be deemed to have been requested by the Borrowers. The Borrowers acknowledge and agree that the obtaining of ACH Transactions and Swap Contracts from the Lender or its Affiliates (a) is in the sole and absolute discretion of the Lender or its Affiliates and (b) is subject to all rules and regulations of the Lender or its Affiliates.

Appears in 4 contracts

Samples: Financing and Security Agreement (Argan Inc), Financing and Security Agreement (Argan Inc), Financing and Security Agreement (Versar Inc)

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ACH Transactions and Swap Contracts. The Borrowers Borrower may request and the Lender or its Affiliates affiliates may, in their sole and absolute discretion, provide ACH Transactions and Swap Contracts. In the event the Borrowers request Borrower requests Lender or its Affiliates affiliates to procure ACH Transactions or Swap Contracts, then the Borrowers agree Borrower agrees to indemnify and hold the Lender or its Affiliates affiliates harmless from any and all obligations now or hereafter owing to the Lender or its Affiliatesaffiliates. The Borrowers agree Borrower agrees to pay the Lender or its Affiliates affiliates all amounts owing to the Lender or its Affiliates affiliates pursuant to ACH Transactions and Swap Contracts. In the event the Borrowers Borrower shall not have paid to the Lender or its Affiliates affiliates such amounts, the Lender may cover such amounts by an advance under the Revolving Loan, which advance shall be deemed to have been requested by the BorrowersBorrower. The Borrowers acknowledge Borrower acknowledges and agree agrees that the obtaining of ACH Transactions and Swap Contracts from the Lender or its Affiliates (a) is in the sole and absolute discretion of the Lender or its Affiliates and (b) is subject to all rules and regulations of the Lender or its Affiliates.

Appears in 2 contracts

Samples: Financing and Security Agreement (ARGON ST, Inc.), Financing and Security Agreement (Sensytech Inc)

ACH Transactions and Swap Contracts. The Borrowers Borrower may request and the Lender or its Affiliates may, in their sole and absolute discretion, provide ACH Transactions and Swap Contracts. In the event the Borrowers request Borrower requests Lender or its Affiliates to procure ACH Transactions or Swap Contracts, then the Borrowers agree Borrower agrees to indemnify and hold the Lender or its Affiliates harmless from any and all obligations now or hereafter owing to the Lender or its Affiliates. The Borrowers agree Borrower agrees to pay the Lender or its Affiliates all amounts owing to the Lender or its Affiliates pursuant to ACH Transactions and Swap Contracts. In the event the Borrowers Borrower shall not have paid to the Lender or its Affiliates such amounts, the Lender may cover such amounts by an advance under the Revolving Loan, which advance shall be deemed to have been requested by the BorrowersBorrower. The Borrowers acknowledge Borrower acknowledges and agree agrees that the obtaining of ACH Transactions and Swap Contracts from the Lender or its Affiliates (a) is in the sole and absolute discretion of the Lender or its Affiliates and (b) is subject to all rules and regulations of the Lender or its Affiliates.

Appears in 2 contracts

Samples: Financing and Security Agreement (Healthextras Inc), Financing and Security Agreement (Healthextras Inc)

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ACH Transactions and Swap Contracts. The Borrowers Borrower may request and the Lender or its Affiliates may, in their sole and absolute discretion, provide ACH Transactions and Swap Contracts. In the event the Borrowers request Borrower requests Lender or its Affiliates to procure ACH Transactions or Swap Contracts, then the Borrowers agree Borrower agrees to indemnify and hold the Lender or its Affiliates harmless from any and all obligations now or hereafter owing to the Lender or its Affiliates. The Borrowers agree Borrower agrees to pay the Lender or its Affiliates all amounts owing to the Lender or its Affiliates pursuant to ACH Transactions and Swap Contracts. In the event the Borrowers Borrower shall not have paid to the Lender or its Affiliates such amounts, the Lender may cover such amounts by an advance under the Revolving Loan, which advance shall be deemed to have been requested by the BorrowersBorrower. The Borrowers acknowledge Borrower acknowledges and agree agrees that the obtaining of ACH Transactions and Swap Contracts from the Lender or its Affiliates (a) is in the sole and absolute discretion of the Lender or its Affiliates and (b) is subject to all rules and regulations of the Lender or its Affiliates.

Appears in 1 contract

Samples: Financing and Security Agreement (Liquidity Services Inc)

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