Conditional Payment. Borrowers agree that checks and other instruments received by Agent on behalf of Lenders or by any Lender in payment or on account of the Indebtedness constitute only conditional payment until such items are actually paid to Agent or such Lender.
Appears in 4 contracts
Samples: Revolving Credit Loan Agreement (Orleans Homebuilders Inc), Revolving Credit Loan Agreement (Orleans Homebuilders Inc), Revolving Credit Loan Agreement (Orleans Homebuilders Inc)
Conditional Payment. Borrowers agree Borrower agrees that checks and other instruments received by Agent on behalf of Lenders or by any Lender in payment or on account of the Indebtedness constitute only conditional payment until such items are actually paid to Agent or such Lender.
Appears in 3 contracts
Samples: Revolving Credit and Term Loan Agreement (Pennsylvania Real Estate Investment Trust), Revolving Credit Loan Agreement (First Washington Realty Trust Inc), Line of Credit Loan Agreement (Orleans Homebuilders Inc)
Conditional Payment. Borrowers agree Borrower agrees that checks and other instruments received by Agent on behalf of Lenders or by any Lender in payment or on account of the Indebtedness constitute only conditional payment until such items are actually paid to Agent or such Lender.
Appears in 2 contracts
Samples: Secured Loan Agreement (Pennsylvania Real Estate Investment Trust), Revolving Credit Agreement (Pennsylvania Real Estate Investment Trust)
