Business Credit. Vonage shall have a personal and non-transferable (notwithstanding Section 9.10) option to reduce the payment(s) that becomes due during the months following the third year of the Term pursuant to Section 4.1 through the application of a “Credit Amount” earned by Vonage as a result of New Business. Although, by definition, New Business is limited to services and products purchased under and pursuant to the terms of the AT&T Network Connections Service Agreement to be executed within 180 days of the signing of this Settlement Agreement, Vonage and AT&T may agree to include other service agreements as New Business (“Additional Business”) but AT&T is not obligated to consider Additional Business or to include Additional Business on the same formula as the Credit Amount defined herein. A Credit Amount reduces the required payment on a dollar for dollar basis. The Credit Amount shall be calculated as follows: For each calendar year, the Credit Amount shall be 10% of the New Business. The following examples illustrate how the Credit Amounts will be calculated and applied.
Business Credit. This Agreement and the Instruments evidence extensions of business credit exempt from the Federal Truth-In-Lending Act (15 USC 1601, et seq.), the Federal Reserve Bank’s Regulation Z (12 CFR 226, et seq.), and the Indiana Uniform Consumer Credit Code (IC 24-4.5-1-101, et seq.).
Business Credit. 5.1 Aged Corporation: Clients in the Diamond Program will receive an Aged Corporation which will be built up with 8 to 10 business tradelines to receive at least 5 credit cards under the Corporation and over $800,000 worth of funding.
Business Credit. SERVICE The Borrower will have access to the Operating Loan (Facility 1) via Loan Account Number 0000-0000000-01 (the "Loan Account") up to the Credit Limit of Operating Loan by withdrawing funds from the Borrower's Current Account Number 1466-0321583 (the "Current Account"). The Borrower agrees that each advance from the Loan Account will be in an amount equal to $10,000 (the "Transfer Amount") or a multiple thereof. If the transfer amount is NIL, the Borrower agrees that an advance from the Borrower's Loan Account may be in an amount sufficient to cover the debits made to the Current Account. The Borrower agrees that: a) all other overdraft privileges which have governed the Borrower's Current Account are hereby canceled.
Business Credit. (i) to execute any document which Debtor is obligated to execute under Section 4.1 of this Agreement upon Debtor's failure or inability to execute such document, (ii) to demand, collect, receive, receipt for, sue xxx recover all sums of money or other property which may now or hereafter become due, from the Collateral; (iii) to execute, sign and endorse all Claims. instruments, receipts, chicks, drafts or `warrants issued in payment for the Collateral; (iv) to settle or compromise any and all claims arising under the Collateral, and, in the place and stead of Debtor, to execute and deliver its release and settlement for the claim; (v) to file any Claim or Claims or to take any action or institute or take part in any proceedings, either in its own name or in the name of Debtor, or otherwise, which in the sole discretion of Secured Party may seem to be necessary or advisable; (vi) to transfer to Secured Party all right, title and interest of Debtor in Collateral (if any) retained by Secured Party as discharge of Indebtedness under Article 9-505 of the Uniform Commercial Code or other applicable law; and (vii) to transfer to any transferee of a Disposition of Collateral made under Section 8 hereof all right, tide and interest of Debtor in Collateral, and to execute such other documents or instruments as necessary or advisable to register, record, or prove title to or ownership of the Collateral. The Power of Attorney hereby conferred is and shall be irrevocable and shall remain in full force and until renounced in writing by Secured Party.
Business Credit. You hereby confirm your representation to us that no loans under this Agreement are intended to be used or shall be used for other than business and/or commercial (non-consumer) purposes. You agree that (1) Xxxxxxxx, (2) any affiliate of Borrower, (3) Guarantor (as defined in Section 8 of the Note), (4) any holder of a direct or indirect equity interest in Borrower or any such affiliate, (5) any officer, director, executive employee or manager of any person or entity described in the foregoing clauses (1) — (4) or (6) any family member (including spouse, siblings, ancestors and lineal descendants) of any person or entity described in the foregoing clauses (1) — (5) shall not occupy any real property, including without limitation, the Property, securing any loan we make to you. You may have employees, security personnel and other persons temporarily occupy such property for the purposes of securing it, but no one shall occupy the Property as their principal residence or second home while you own it.
