California time. If any Collection item is received into the Agent's Account on a non-Business Day or after 11:00 a.m. California time on a Business Day, it shall be deemed to have been received by Agent as of the opening of business on the immediately following Business Day.
Appears in 6 contracts
Samples: Loan and Security Agreement (Gantos Inc), Loan and Security Agreement (Grant Geophysical Inc), Loan and Security Agreement (Leslies Poolmart Inc)
California time. If any Collection item is received into the Agent's Account on a non-Business Day or after 11:00 a.m. California time on a Business Day, it shall be deemed to have been received by Agent as of the opening of business on the immediately following Business Day.; and
Appears in 2 contracts
Samples: Loan and Security Agreement (Texas New Mexico & Oklahoma Coaches Inc), Loan and Security Agreement (Vermont Transit Co Inc)
California time. If any Collection item is received into the Agent's Agent Account on a non-Business Day or after 11:00 a.m. California time on a Business Day, it shall be deemed to have been received by Agent as of the opening of business on the immediately following Business Day. Anything contained herein to the contrary notwithstanding, the economic benefit of the 1 Business Day clearance or float charge provided for in this Section 2.8 is not for the ratable benefit of the Lenders, but instead shall be for the sole and separate account of Agent.
Appears in 2 contracts
Samples: Loan and Security Agreement (Employee Solutions Inc), Loan and Security Agreement (Ram Energy Inc/Ok)
California time. If any Collection item is received into the Agent's Agent Account on a non-Business Day or after 11:00 a.m. California time on a Business Day, it shall be deemed to have been received by Agent as of the opening of business on the immediately following Business Day. Anything contained herein to the contrary notwithstanding, the economic benefit of the two Business Day clearance or float charge provided for in this Section 2.8 is not for the ratable benefit of the Lenders, but instead shall be for the sole and separate account of Agent.
Appears in 1 contract
Samples: Loan and Security Agreement (General Datacomm Industries Inc)
California time. If any Collection item is received into the Agent's Agent Account on a non-Business Day or after 11:00 a.m. California time on a Business Day, it shall be deemed to have been received by Agent as of the opening of business on the immediately following Business Day. The parties acknowledge and agree that the economic benefit of the foregoing provisions of this Section 2.8 shall be for the exclusive benefit of Agent.
Appears in 1 contract
Samples: Loan and Security Agreement (Southwest Royalties Holdings Inc)
California time. If any Collection item is received into the Agent's Agent Account on a non-Business Day or after 11:00 a.m. California time on a Business Day, it shall be deemed to have been received by Agent as of the opening of business on the immediately following Business Day. Anything contained herein to the contrary notwithstanding, the economic benefit of the two Business Days clearance or float charge provided for in this Section 2.8 is not for the ratable benefit of the Lenders, but instead shall be for the sole and separate account of Agent.
Appears in 1 contract
California time. If any Collection item is received into the Agent's Agent Account on a non-Business Day or after 11:00 a.m. California time on a Business Day, it shall be deemed to have been received by Agent as of the opening of business on the immediately following Business Day. Anything contained herein to the contrary notwithstanding, the economic benefit of the one Business Day clearance or float charge provided for in this SECTION 2.8 is not for the ratable benefit of the Lenders, but instead shall be for the sole and separate account of Agent.
Appears in 1 contract
California time. If any Collection item is received into the Agent's Account on a non-Business Day or after 11:00 a.m. California time on a Business Day, it shall be deemed to have been received by Agent as of the opening of business on the immediately following Business Day.
Appears in 1 contract
California time. If any Collection item is received into the Administrative Agent's Account on a non-Business Day or after 11:00 a.m. California time on a Business Day, it shall be deemed to have been received by Administrative Agent as of the opening of business on the immediately following Business Day. In the event that Borrower has a credit balance in its Loan Account, Foothill shall automatically pay such monies to Borrower so long as no Event of Default has occurred and is continuing.
Appears in 1 contract
California time. If any Collection item is received into the Agent's Account on a non-Business Day or after 11:00 a.m. California time on a Business Day, it shall be deemed to have been received by Facility Agent as of the opening of business on the immediately following Business Day.; and
Appears in 1 contract
Samples: Loan and Security Agreement (Los Buenos Leasing Co Inc)
California time. If any Collection item is received into the Agent's Agent Account on a non-Business Day or after 11:00 a.m. California time on a Business Day, it shall be deemed to have been received by Agent as of the opening of business on the immediately following Business Day. Anything contained herein to the contrary notwithstanding, the economic benefit of the one Business Day clearance or float charge provided for in this Section 2.8 is ----------- not for the ratable benefit of the Lenders, but instead shall be for the sole and separate account of Agent.
Appears in 1 contract
Samples: Loan and Security Agreement (Convergent Communications Inc /Co)
California time. If any Collection item is received into the Agent's Account on a non-Business Day or after 11:00 a.m. (California time on a Business Day, time) it shall be deemed to have been received by Agent as of the opening of business on the immediately following Business Day.
Appears in 1 contract
Samples: Loan and Security Agreement (Neostar Retail Group Inc)
