Continuing Credit; Security Sample Clauses

Continuing Credit; Security. If Customer’s charges for the Services are projected to exceed (based on NetWolves’ measurement of Customer’s daily usage run rate), or do exceed, its credit limit, NetWolves may require additional security of its choice from Customer in an amount to be determined by NetWolves in its sole discretion. Customer must provide this additional security to NetWolves within five (5) business days. NetWolves reserves the right at any time, upon notice to Customer, to withdraw credit approval for Customer; limit the amount of credit NetWolves may make available to Customer, change the length of billing cycle Terms and Conditions and/or due date and/or change the security requirements applicable to Customer from time to time hereunder in NetWolves’ sole discretion. NetWolves shall be entitled to suspend or terminate, in whole or in part, any or all Service hereunder if NetWolves has withdrawn its credit approval of Customer, Customer has exceeded or, in NetWolves’ sole determination, will soon exceed its credit limit, or Customer has failed to comply with the then applicable security requirements hereunder. Additionally, if at any time NetWolves determines that, in its sole and absolute discretion, payment for services may not be made when due, NetWolves may suspend services. NetWolves may suspend the services, apply any deposit, draw on any letter of credit, collect from any guarantor, or apply other security if any amounts due by Customer under the Agreement (including Early Termination Charges) not properly disputed are not paid in full by its due date. Customer agrees to restore any security to the amounts in place prior to application of such security to Customer’s obligations under the Agreement. NetWolves will return the unapplied portion of any deposit to Customer at the end of the Term. Customer will receive interest on the amount of the returned deposit if required by applicable law.
Sample 1
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Related to Continuing Credit; Security

  • Commitment Charge; Credit; Maturity Premium (a) The Borrower shall pay a commitment charge on the unwithdrawn amount of the Loan at the rate and on the terms specified in the Loan Agreement.

  • Employer Commitments It is agreed that the institution will make every reasonable attempt to minimize the impact of funding shortfalls and reductions on the work force. It is incumbent upon institutions to communicate effectively with their employees and the unions representing those employees as soon as the impact of any funding reduction or shortfall or profile change has been assessed. If a work force reduction is necessary, the Joint Labour Management Committee will canvas employees in a targeted area or other areas over a fourteen (14) day period, or such longer time as the Joint Labour Management Committee agrees, to find volunteer solutions that provide as many viable options as possible and minimize potential layoffs. Subject to any agreement that the Joint Labour Management Committee may make to extend the period of a canvass, such canvasses shall take place either: • prior to the issuance of lay-off notice to employees under the local agreement, or • by no later than fourteen (14) calendar days following the annual deadline for notice of non-renewal or layoff where a local provision provides for such a deadline, whichever date is later. The union shall be provided with a copy of each final plan for employee labour adjustment.

  • Loan Amount 5. ACCOUNT NAME(S) .............................................................................................................................................................................. BANK NAME / BRANCH ...................................................................................................................................................................

  • Letter of Credit Fees The Borrower shall pay to the Administrative Agent for the account of each Revolving Credit Lender in accordance, subject to Section 2.16 with its Applicable Revolving Credit Percentage a Letter of Credit fee (the “Letter of Credit Fee”) for each Letter of Credit equal to the Applicable Rate times the daily amount available to be drawn under such Letter of Credit. For purposes of computing the daily amount available to be drawn under any Letter of Credit, the amount of such Letter of Credit shall be determined in accordance with Section 1.06. Letter of Credit Fees shall be (i) due and payable on the first Business Day after the end of each March, June, September and December, commencing with the first such date to occur after the issuance of such Letter of Credit, on the Letter of Credit Expiration Date and thereafter on demand and (ii) computed on a quarterly basis in arrears. If there is any change in the Applicable Rate during any quarter, the daily amount available to be drawn under each Letter of Credit shall be computed and multiplied by the Applicable Rate separately for each period during such quarter that such Applicable Rate was in effect. Notwithstanding anything to the contrary contained herein, upon the request of the Required Revolving Lenders, while any Event of Default exists, all past due Letter of Credit Fees shall accrue at the Default Rate.

  • Additional Public Interest Commitments Registry Operator shall comply with the public interest commitments set forth in Specification 11 attached hereto (“Specification 11”).

  • Continuing Security This Security is a continuing security and will extend to the ultimate balance of the Secured Liabilities, regardless of any intermediate payment or discharge in whole or in part.

  • Credit Limits 18.1 The Client understands that:

  • Commitment Charge; Credit (a) The Borrower shall pay a commitment charge on the unwithdrawn amount of the Loan at the rate and on the terms specified in the Loan Agreement.

  • Continuing Obligation The Contractor's duty to indemnify continues in full force and effect, notwithstanding the expiration or early cancellation of the contract, with respect to any claims based on facts or conditions that occurred before expiration or cancellation.

  • Term Loan The Borrower may, upon notice from the Borrower to the Administrative Agent, at any time or from time to time voluntarily prepay the Term Loan in whole or in part together with the applicable Prepayment Premium; provided that (A) such notice must be received by the Administrative Agent not later than 11:00 a.m. (1) three Business Days prior to any date of prepayment of LIBOR Rate Loans and (2) on the date of prepayment of Base Rate Loans; (B) any such prepayment of LIBOR Rate Loans shall be in a principal amount of $500,000 or a whole multiple of $100,000 in excess thereof (or, if less, the entire principal amount thereof then outstanding); (C) any prepayment of Base Rate Loans shall be in a principal amount of $500,000 or a whole multiple of $100,000 in excess thereof (or, if less, the entire principal amount thereof then outstanding); and (D) any prepayment of the Term Loan shall be applied in the inverse order of maturity with respect to the remaining amortization payments. Each such notice shall specify the date and amount of such prepayment and the Type(s) of Loans to be prepaid. The Administrative Agent will promptly notify each Lender of its receipt of each such notice, and of the amount of such Lender’s Applicable Percentage of such prepayment. If such notice is given by the Borrower, the Borrower shall make such prepayment and the payment amount specified in such notice shall be due and payable on the date specified therein. Any prepayment of a LIBOR Rate Loan shall be accompanied by all accrued interest on the amount prepaid, together with any additional amounts required pursuant to Section 3.05. On the date of any voluntary prepayment of any Term Loan pursuant to this Section 2.05(a)(ii), the Borrower shall pay to the Administrative Agent, for the benefit of the Lenders, whether before or after an Event of Default, the applicable Prepayment Premium. Subject to Section 2.15, each such prepayment shall be applied to the Loans of the Lenders in accordance with their respective Applicable Percentages.

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