Credit Exposure. No more than ten percent (10%) of the Borrower's Consolidated Net Worth shall be subject to credit risk from any single customer (including any Affiliate of such customer) unless such accounts receivable are supported by a letter of credit issued or confirmed by a financial institution acceptable to the Agent.
Appears in 2 contracts
Samples: Secured Credit Agreement (Palex Inc), Secured Credit Agreement (Palex Inc)
Credit Exposure. No more than ten percent (10%) of the --------------- Borrower's Consolidated Net Worth shall be subject to credit risk from any single customer (including any Affiliate of such customer) unless such accounts receivable are supported by a letter of credit issued or confirmed by a financial institution acceptable to the Agent.
Appears in 1 contract
Samples: Secured Credit Agreement (Palex Inc)
Credit Exposure. No more than ten percent (10%) of the Borrower's Consolidated Net Worth shall be subject to credit risk from any single customer (including any Affiliate of such customer) unless such accounts receivable are supported by a letter of credit issued or confirmed by a financial institution acceptable to the AgentLender.
Appears in 1 contract
Samples: Credit Agreement (Palex Inc)
