Commercial Credits. The provisions of this Section 4 apply only to commercial Credits:
(a) Customer will keep all property shipped in connection with any commercial Credit insured in amounts, against risks and with insurers satisfactory to Bank, assign the policies or certificates to Bank or make loss payable to Bank, at Bank’s option, and furnish Bank on request with evidence of compliance with the foregoing. If Bank at any time and in connection with any commercial Credit, deems such insurance inadequate, Bank may procure additional insurance at Customer’s expense.
(b) Customer will procure all licenses and comply with all formalities necessary for the import, export and shipping of any property in connection with any commercial Credit and shall comply with all applicable domestic and foreign laws, orders and regulations (including those relating to exchange); upon Bank’s request Customer shall promptly furnish Bank with certificates evidencing such compliance. Customer hereby certifies and warrants to Bank that transactions with respect to any property shipped in connection with any commercial Credit are not prohibited under any United States law, order or regulation and that any shipment covered by any Credit or any documents required thereunder shall fully conform to all existing United States laws, orders and regulations.
(c) If Bank, at its discretion, delivers to Customer all or part of the goods or documents referred to in or shipped in connection with any commercial Credit before full payment of all Obligations (as defined in Section 6 hereof) secured thereby, Customer will execute and deliver such security agreements and financing statements, and will carry and furnish evidence of such assurance, as Bank may request, and Customer will pay all required filing fees. Bank’s rights specified herein shall be in addition to Bank’s rights under any applicable law or other agreement.
(d) If Bank agrees to issue any commercial Credit permitting the direct consignment of goods to Customer or Customer’s agents, Customer agrees to hold any goods so received in trust for Bank readily identifiable and stored separately and intact under separate accounting as Bank’s property and to execute and deliver such security agreements as Bank deems appropriate until Customer has: (i) accepted or rejected the related documents; and (ii) made full payment of all indebtedness arising under such Credit.
(e) If Bank, in Bank’s discretion, and at the Customer’s request, delivers to Customer all...
Commercial Credits. Between the date hereof and the Effective Time of the Merger, Falcon will (a) advise First Maryland of any loan, letter of credit or other credit facility of Falcon in excess of $500,000 (i) which it proposes to extend to a new or existing borrower, (ii) which it proposes to restructure with an existing borrower, (iii) under which it proposes to take enforcement or collection action, or (iv) which it proposes to sell or transfer, and (b) await First Maryland's advice (if any) with respect to any such credit facilities prior to taking any action it is considering with regard to any such credit facilities. If First Maryland advises Falcon that any such credit facility or the action to be taken with respect to any such credit facility does not meet with existing First Maryland credit standards or procedures, Falcon shall use their respective best efforts to undertake such action with respect to such facility as is recommended by First Maryland.
