Application of Payments to Revolving Note. Xxxxx Fargo will withdraw Account Funds deposited to the Collection Account and pay down borrowings on the Line of Credit by applying them to the Revolving Note on the first Business Day following the Business Day of deposit to the Collection Account, or, if payments are received by Xxxxx Fargo that are not first deposited to the Collection Account pursuant to any treasury management service provided to Company by Xxxxx Fargo, such payments shall be applied to the Revolving Note as provided in the Master Agreement for Treasury Management Services and the relevant service description.
Appears in 6 contracts
Samples: Credit and Security Agreement (Nortech Systems Inc), Credit and Security Agreement (Capstone Turbine Corp), Credit and Security Agreement (Winnebago Industries Inc)
Application of Payments to Revolving Note. Xxxxx Wxxxx Fargo will withdraw Account Funds deposited to the Collection Account and pay down borrowings on the Line of Credit by applying them to the Revolving Note on the first Business Day following the Business Day of deposit to the Collection Account, or, if payments are received by Xxxxx Wxxxx Fargo that are not first deposited to the Collection Account pursuant to any treasury management service provided to Company by Xxxxx Wxxxx Fargo, such payments shall be applied to the Revolving Note as provided in the Master Agreement for Treasury Management Services and the relevant service description.
Appears in 3 contracts
Samples: Credit and Security Agreement (Emcore Corp), Credit and Security Agreement (Merrimac Industries Inc), Credit and Security Agreement (Iridex Corp)
Application of Payments to Revolving Note. Xxxxx Fargo will withdraw Account Funds deposited to the Collection Account and pay down borrowings on the Line of Credit by applying them to the Revolving Note on the first Business Day following the Business Day of deposit to the Collection Account, or, if payments are received by Xxxxx Fargo that are not first deposited to the Collection Account pursuant to any treasury management service provided to Company Companies by Xxxxx Fargo, such payments shall be applied to the Revolving Note as provided in the Master Agreement for Treasury Management Services and the relevant service description.
Appears in 2 contracts
Samples: Credit and Security Agreement (Phoenix Footwear Group Inc), Credit and Security Agreement (Phoenix Footwear Group Inc)
