AMOUNTS PAYABLE ON DEMAND. If the Borrower shall fail to pay on demand any amount so payable under this Agreement, the Bank may, at its option and without any obligation to do so and without waiving any default occasioned by the Borrower having so failed to pay such amount, create an Advance under this Agreement in an amount equal to the amount so payable, which Advance shall thereafter bear interest as provided hereunder.
Appears in 27 contracts
Samples: Trade Finance Credit Agreement, Credit Agreement (Ixys Corp /De/), Credit Agreement (Applied Signal Technology Inc)
AMOUNTS PAYABLE ON DEMAND. If the Borrower shall fail fails to pay on demand any amount so payable under this Agreement, the Bank may, at its option and without any obligation to do so and without waiving any default occasioned by the Borrower having so failed Borrower's failure to pay such amount, create an Advance under this Agreement in an amount equal to the amount so payable, which Advance shall thereafter bear interest as provided hereunderunder the Line of Credit.
Appears in 7 contracts
Samples: Line of Credit Agreement (Scheid Vineyards Inc), Line of Credit Agreement (Maxwell Technologies Inc), Line of Credit Agreement (Public Storage Properties Xiv Inc)
AMOUNTS PAYABLE ON DEMAND. If the Borrower shall fail to pay on demand any amount so payable under this Agreement, the Bank may, at its option and without any obligation to do so and without waiving any default occasioned by the Borrower having so failed to pay such amount, create an Advance under this Agreement the Line of Credit in an amount equal to the amount so payable, which Advance shall thereafter bear interest as provided hereunderunder the Line of Credit.
Appears in 7 contracts
Samples: Term Loan Credit Agreement (Elexsys International Inc), Credit Agreement (PMR Corp), Line of Credit Agreement (Elexsys International Inc)
AMOUNTS PAYABLE ON DEMAND. If the Borrower Borrowers shall fail to pay on demand any amount so payable under this Agreement, the Bank may, at its option and without any obligation to do so and without waiving any default occasioned by the Borrower Borrowers having so failed to pay such amount, create an Advance under this Agreement in an amount equal to the amount so payable, which Advance shall thereafter bear interest as provided hereunder.
Appears in 2 contracts
Samples: Credit Agreement (Tag It Pacific Inc), Credit Agreement (Osi Systems Inc)
AMOUNTS PAYABLE ON DEMAND. If the Borrower shall fail fails to pay on demand any amount so payable under this Agreement, the Bank may, at its option and without any obligation to do so and without waiving any default occasioned by the Borrower having so failed Borrower's failure to pay such amount, create an Advance under this Agreement in an amount equal to the amount so payable, which Advance shall thereafter bear interest as provided hereundera Variable Rate Advance.
Appears in 1 contract
AMOUNTS PAYABLE ON DEMAND. If the Borrower shall fail fall to pay on demand any amount so payable under this AgreementAgreement (including but not limited to interest), the Bank may, at its option and without any obligation to do so and without waiving any default occasioned by the Borrower having so failed to pay such amount, create an Advance under this Agreement the Line of Credit in an amount equal to the amount so payable, which Advance shall thereafter bear interest as provided hereunderunder the Line of Credit.
Appears in 1 contract
Samples: Letter of Credit Agreement (Atg Inc)
AMOUNTS PAYABLE ON DEMAND. If the any Borrower shall fail to pay on demand any amount so payable under this Agreement, the Bank may, at its option and without any obligation to do so and without waiving any default occasioned by the Borrower having so failed to pay such amount, create an Advance under this Agreement the Line of Credit in an amount equal to the amount so payable, which Advance shall thereafter bear interest as provided hereunderunder the Line of Credit.
Appears in 1 contract
Samples: Credit Agreement (Osi Systems Inc)
AMOUNTS PAYABLE ON DEMAND. If the Borrower shall fail to pay on demand any amount so payable under this Agreement, ; the Bank may, at its option and without any obligation to do so and without waiving any default occasioned by the Borrower having so failed to pay such amount, create an Advance under this Agreement in an amount equal to the amount so payable, which Advance shall thereafter bear interest as provided hereunder.
Appears in 1 contract
