Common use of Credit Extensions Clause in Contracts

Credit Extensions. Borrower promises to pay to the order of Bank, in lawful money of the United States of America, the aggregate unpaid principal amount of all Credit Extensions made by Bank to Borrower hereunder. Borrower shall also pay interest on the unpaid principal amount of such Loans at rates in accordance with the terms hereof. (a) Subject to and upon the terms and conditions of this Agreement, Bank agrees to make Revolving Loans to Borrower in an aggregate outstanding amount not to exceed the Revolving Commitment; provided that no such Loan shall result in an Overadvance. Subject to the terms and conditions of this Agreement, amounts borrowed pursuant to this Section 2.1 may be repaid and reborrowed at any time during the term of this Agreement without penalty or premium. (b) Whenever Borrower desires a Revolving Loan, Borrower will notify Bank by facsimile transmission or telephone no later than 3:00 p.m. Pacific time, on the Business Day that such Revolving Loan is to be made. Each such notification shall be promptly confirmed by a Payment/Loan Form in substantially the form of Exhibit B hereto. Bank is authorized to make Loans under this Agreement, based upon instructions received from a Responsible Officer or a designee of a Responsible Officer, or without instructions if in Bank's discretion such Loans are necessary to meet Obligations which have become due and remain unpaid. Bank shall be entitled to rely on any telephonic notice given by a person who Bank reasonably believes to be a Responsible Officer or a designee thereof, and Borrower shall indemnify and hold Bank harmless for any damages or loss suffered by Bank as a result of such reliance. Bank will credit the amount of Loans made under this Section 2.1 to Borrower's deposit account.

Appears in 3 contracts

Samples: Annual Report, Loan and Security Agreement (Harmonic Lightwaves Inc), Loan and Security Agreement (Harmonic Inc)

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Credit Extensions. Borrower promises to pay to the order of Bank, in lawful money of the United States of America, the aggregate unpaid principal amount of all Credit Extensions made by Bank to Borrower hereunder. Borrower shall also pay interest on the unpaid principal amount of such Loans Credit Extensions at rates in accordance with the terms hereof. (a) Subject to and upon the terms and conditions of this Agreement, Bank agrees to make Revolving Loans Advances to Borrower in an aggregate outstanding amount not to exceed the Committed Revolving Commitment; provided that no such Loan shall result in an OveradvanceLine or the Borrowing Base, whichever is less. Subject to the terms and conditions of this Agreement, amounts borrowed pursuant to this Section 2.1 may be repaid and reborrowed at any time during the term of this Agreement without penalty or premiumAgreement. (b) Whenever Borrower desires a Revolving Loanan Advance, Borrower will notify Bank by facsimile transmission or telephone no later than 3:00 p.m. Pacific time, on the Business Day that such Revolving Loan the Advance is to be made. Each such notification shall be promptly confirmed by a Payment/Loan Advance Form in substantially the form of Exhibit B hereto. Bank is authorized to make Loans Advances under this Agreement, based upon instructions received from a Responsible Officer or a designee of a Responsible Officer, or without instructions if in Bank's discretion such Loans Advances are necessary to meet Obligations which have become due and remain unpaid. Bank shall be entitled to rely on any telephonic notice given by a person who Bank reasonably believes to be a Responsible Officer or a designee thereof, and Borrower shall indemnify and hold Bank harmless for any damages or loss suffered by Bank as a result of such reliance. Bank will credit the amount of Loans Advances made under this Section 2.1 to Borrower's deposit account. (c) The Committed Revolving Line shall terminate on the Revolving Maturity Date, at which time all Advances under this Section 2.1 and other amounts due under this Agreement (except as otherwise expressly specified herein) shall be immediately due and payable.

Appears in 1 contract

Samples: Loan and Security Agreement (Eprise Corp)

Credit Extensions. Borrower promises to pay to the order of Bank, in lawful money of the United States of America, the aggregate unpaid principal amount of all Credit Extensions made by Bank to Borrower hereunder. Borrower shall also pay interest on the unpaid principal amount of such Loans Credit Extensions at rates in accordance with the terms hereof. (a) Subject to and upon the terms and conditions of this Agreement, Bank agrees to make Revolving Loans Advances to Borrower in an aggregate outstanding amount not to exceed the Committed Revolving Commitment; provided that no such Loan shall result in an OveradvanceLine or the Borrowing Base, whichever is less. Subject to the terms and conditions of this Agreement, amounts borrowed pursuant to this Section 2.1 may be repaid and reborrowed at any time during the term of this Agreement without penalty or premiumAgreement. (b) Whenever Borrower desires a Revolving Loanan Advance, Borrower will notify Bank by facsimile transmission or telephone no later than 3:00 p.m. Pacific time, on the Business Day that such Revolving Loan the Advance is to be made. Each such notification shall be promptly confirmed by a Payment/Loan Advance Form in substantially the form of Exhibit EXHIBIT B hereto. Bank is authorized to make Loans Advances under this Agreement, based upon instructions received from a Responsible Officer or a designee of a Responsible Officer, or without instructions if in Bank's discretion such Loans Advances are necessary to meet Obligations which have become due and remain unpaid. Bank shall be entitled to rely on any telephonic notice given by a person who Bank reasonably believes to be a Responsible Officer or a designee thereof, and Borrower shall indemnify and hold Bank harmless for any damages or loss suffered by Bank as a result of such reliance. Bank will credit the amount of Loans Advances made under this Section 2.1 to Borrower's deposit accountaccount with Bank. (c) The Committed Revolving Line shall terminate on the Revolving Maturity Date, at which time all Advances under this Section 2.1 and other amounts due under this Agreement (except as otherwise expressly specified herein) shall be immediately due and payable.

Appears in 1 contract

Samples: Loan and Security Agreement (Bluestone Software Inc)

Credit Extensions. Borrower promises to pay to the order of Bank, in lawful money of the United States of America, the aggregate unpaid principal amount of all Credit Extensions made by Bank to Borrower hereunderhereunder in accordance with the terms hereof. Borrower shall also pay interest on the unpaid principal amount of such Loans Advances at rates in accordance with the terms hereof. (a) Subject to and upon the terms and conditions of this Agreement, Bank agrees to make Revolving Loans Advances to Borrower in an aggregate outstanding amount not to exceed the Committed Revolving Commitment; provided that no such Loan shall result in an OveradvanceLine or the Borrowing Base, whichever is less. Subject to the terms and conditions of this Agreement, amounts borrowed pursuant to this Section 2.1 may be repaid and reborrowed at any time during the term of this Agreement without penalty or premiumAgreement. (b) Whenever Borrower desires a Revolving Loanan Advance, Borrower will notify Bank by facsimile transmission or telephone no later than 3:00 p.m. Pacific time, on the Business Day that such Revolving Loan the Advance is to be made. Each such notification shall be promptly confirmed by a Payment/Loan Advance Form in substantially the form of Exhibit EXHIBIT B hereto. Bank is authorized to make Loans Advances under this Agreement, based upon instructions received from a Responsible Officer or a designee of a Responsible Officer, or without instructions if in Bank's discretion such Loans Advances are necessary to meet Obligations which have become due and remain unpaid. Bank shall be entitled to rely on any telephonic notice given by a person who Bank reasonably believes to be a Responsible Officer or a designee thereof, and Borrower shall indemnify and hold Bank harmless for any damages or loss suffered by Bank as a result of such reliance. Bank will credit the amount of Loans Advances made under this Section 2.1 to Borrower's deposit account. (c) The Committed Revolving Line shall terminate on the Revolving Maturity Date, at which time all Advances under this Section 2.1 and other amounts due under this Agreement (except as otherwise expressly specified herein) shall be immediately due and payable.

Appears in 1 contract

Samples: Loan and Security Agreement (Centra Software Inc)

Credit Extensions. Borrower Xxxxxxxx promises to pay to the order of Bank, in lawful money of the United States of America, the aggregate unpaid principal amount of all Credit Extensions made by Bank to Borrower hereunder. Borrower shall also pay interest on the unpaid principal amount of such Loans at rates in accordance with the terms hereof. (a) Subject to and upon the terms and conditions of this Agreement, Bank agrees to make Revolving Loans to Borrower in an aggregate outstanding amount not to exceed the Revolving Commitment; provided that no such Loan shall result in an Overadvance. Subject to the terms and conditions of this Agreement, amounts borrowed pursuant to this Section 2.1 may be repaid and reborrowed at any time during the term of this Agreement without penalty or premium. (b) Whenever Borrower desires a Revolving Loan, Borrower will notify Bank by facsimile transmission or telephone no later than 3:00 p.m. Pacific time, on the Business Day that such Revolving Loan is to be made. Each such notification shall be promptly confirmed by a Payment/Loan Form in substantially the form of Exhibit B hereto. Bank is authorized to make Loans under this Agreement, based upon instructions received from a Responsible Officer or a designee of a Responsible Officer, or without instructions if in Bank's discretion such Loans are necessary to meet Obligations which have become due and remain unpaid. Bank shall be entitled to rely on any telephonic notice given by a person who Bank reasonably believes to be a Responsible Officer or a designee thereof, and Borrower shall indemnify and hold Bank harmless for any damages or loss suffered by Bank as a result of such reliance. Bank will credit the amount of Loans made under this Section 2.1 to Borrower's deposit account.

Appears in 1 contract

Samples: Annual Report

Credit Extensions. Borrower promises to pay to the order of Bank, in lawful money of the United States of America, the aggregate unpaid principal amount of all Credit Extensions made by Bank to Borrower hereunderhereunder in accordance with the terms hereof. Borrower shall also pay interest on the unpaid principal amount of such Loans Credit Extensions at rates in accordance with the terms hereof. (a) Subject to and upon the terms and conditions of this Agreement, Bank agrees to make Revolving Loans Advances to Borrower in an aggregate outstanding amount not to exceed the Committed Revolving Commitment; provided that no such Loan shall result in an OveradvanceLine or the Borrowing Base, whichever is less. Subject to the terms and conditions of this Agreement, amounts borrowed pursuant to this Section 2.1 may be repaid and reborrowed at any time during the term of this Agreement without penalty or premiumAgreement. (b) Whenever Borrower desires a Revolving Loanan Advance, Borrower will notify Bank by facsimile transmission or telephone no later than dm 3:00 p.m. Pacific time, on the Business Day that such Revolving Loan the Advance is to be made. Each such notification shall be promptly confirmed by a Payment/Loan Advance Form in substantially the form of Exhibit B hereto. Bank is authorized to make Loans Advances under this Agreement, based upon instructions received from a Responsible Officer or a designee of a Responsible Officer, or without instructions if in Bank's discretion such Loans Advances are necessary to meet Obligations which have become due and remain unpaid. Bank shall be entitled to rely on any telephonic notice given by a person who Bank reasonably believes to be a Responsible Officer or a designee thereof, and Borrower shall indemnify and hold Bank harmless for any damages or loss suffered by Bank as a result of such reliance. Bank will credit the amount of Loans Advances made under this Section 2.1 to Borrower's deposit account. (c) The Committed Revolving Line shall terminate on the Revolving Maturity Date, at which time all Advances under this Section 2.1 and other amounts due under this Agreement (except as otherwise expressly specified herein) shall be immediately due and payable.

Appears in 1 contract

Samples: Loan and Security Agreement (Synchronicity Inc)

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Credit Extensions. Borrower promises to pay to the order of Bank, ----------------- in lawful money of the United States of America, the aggregate unpaid principal amount of all Credit Extensions made by Bank to Borrower hereunder. Borrower shall also pay interest on the unpaid principal amount of such Loans Credit Extensions at rates in accordance with the terms hereof. (a) Subject to and upon the terms and conditions of this Agreement, Bank agrees to make Revolving Loans Advances to Borrower in an aggregate outstanding amount not to exceed the Committed Revolving Commitment; provided that no such Loan shall result in an OveradvanceLine or the Borrowing Base, whichever is less. Subject to the terms and conditions of this Agreement, amounts borrowed pursuant to this Section 2.1 may be repaid and reborrowed at any time during the term of this Agreement without penalty or premiumAgreement. (b) Whenever Borrower desires a Revolving Loanan Advance, Borrower will notify Bank by facsimile transmission or telephone no later than 3:00 p.m. Pacific Eastern time, on the Business Day that such Revolving Loan the Advance is to be made. Each such notification shall be promptly confirmed by a Payment/Loan Advance Form in substantially the form of Exhibit B hereto. Bank is authorized to make Loans Advances under this Agreement, --------- based upon instructions received from a Responsible Officer or a designee of a Responsible Officer, or without instructions if in Bank's discretion such Loans Advances are necessary to meet Obligations which have become due and remain unpaid. Bank shall be entitled to rely on any telephonic notice given by a person who Bank reasonably believes to be a Responsible Officer or a designee thereof, and Borrower shall indemnify and hold Bank harmless for any damages or loss suffered by Bank as a result of such reliance. Bank will credit the amount of Loans Advances made under this Section 2.1 to Borrower's deposit account. (c) The Committed Revolving Line shall terminate on the Maturity Date, at which time all Advances under this Section 21 and other amounts due under this Agreement (except as otherwise expressly specified herein) shall be immediately due and payable.

Appears in 1 contract

Samples: Loan and Security Agreement (Natural Microsystems Corp)

Credit Extensions. Subject to and upon the terms and conditions of ------------------ this Agreement, Borrower promises to pay to the order of Bank, in lawful money of the United States of America, the aggregate unpaid principal amount of all Credit Extensions made by Bank to Borrower hereunder. Borrower shall also pay interest on the unpaid principal amount of such Loans Credit Extensions at the rates in accordance with specified under the terms hereof. (a) Subject to and upon the terms and conditions of this Agreement, Bank agrees to make Revolving Loans Advances to Borrower in an aggregate outstanding amount not to exceed (i) the Committed Revolving Commitment; provided that no such Loan shall result in an OveradvanceLine or the Borrowing Base, whichever is less, minus (ii) the face amount of all outstanding Letters of Credit (including drawn but unreimbursed Letters of Credit) and minus (iii) the Foreign Exchange Reserve. Subject to the terms and conditions of this Agreement, amounts borrowed pursuant to this Section 2.1 may be repaid and reborrowed at any time during the term of this Agreement without penalty or premiumAgreement. (b) Whenever Borrower desires a Revolving Loanan Advance, Borrower will notify Bank by facsimile transmission or telephone no later than 3:00 p.m. Pacific time, time on the Business Day that such Revolving Loan the Advance is to be made. Each such notification shall be promptly confirmed by a Payment/Loan Advance Form in substantially the form of Exhibit EXHIBIT B hereto. Bank is authorized to make Loans Advances under this Agreement, --------- based upon instructions received from a Responsible Officer or a designee of a Responsible OfficerOfficer (as designated in writing in accordance with the terms hereof), or without instructions if in Bank's discretion such Loans Advances are necessary to meet Obligations which have become due and remain unpaid. Bank shall be entitled to rely on any telephonic notice given by a person who Bank reasonably believes to be a Responsible Officer or a designee thereofthereof (as designated in writing in accordance with the terms hereof), and Borrower shall indemnify and hold Bank harmless for any damages or loss suffered by Bank as a result of such reliance. Bank will credit the amount of Loans Advances made under this Section 2.1 to Borrower's deposit account. (c) The Committed Revolving Line shall terminate on the Maturity Date, at which time all Advances under this Section 2.1 and other amounts due under this Agreement (except as otherwise expressly specified herein) shall be immediately due and payable.

Appears in 1 contract

Samples: Loan and Security Agreement (Open Market Inc)

Credit Extensions. Borrower promises Borrowers promise, jointly and severally, to pay to the order of Bank, in lawful money of the United States of America, the aggregate unpaid principal amount of all Credit Extensions made by Bank to Borrower Borrowers hereunder. Borrower Borrowers shall also pay interest on the unpaid principal amount of such Loans Credit Extensions at rates in accordance with the terms hereof. (a) Subject to and upon the terms and conditions of this Agreement, Bank agrees to make Revolving Loans Advances to Borrower Borrowers in an aggregate outstanding amount not to exceed the Committed Revolving Commitment; provided that no such Loan shall result in an OveradvanceLine or the Borrowing Base, whichever is less. Subject to the terms and conditions of this Agreement, amounts borrowed pursuant to this Section 2.1 may be repaid and reborrowed at any time during the term of this Agreement without penalty or premiumAgreement. (b) Whenever Borrower desires a Revolving LoanBorrowers desire an Advance, Borrower Borrowers will notify Bank by facsimile transmission or telephone no later than 3:00 p.m. Pacific timeTime, on the Business Day that such Revolving Loan the Advance is to be made. Each such notification shall be promptly confirmed by a Payment/Loan Advance Form in substantially the form of Exhibit EXHIBIT B hereto. Bank is authorized to make Loans Advances under this Agreement, based upon instructions received from a Responsible Officer or a designee of a Responsible Officer, or without instructions if in Bank's discretion such Loans Advances are necessary to meet Obligations which have become due and remain unpaid. Bank shall be entitled to rely on any telephonic notice given by a person who Bank reasonably believes to be a Responsible Officer or a designee thereof, and Borrower Borrowers, jointly and severally, shall indemnify and hold Bank harmless for any damages or loss suffered by Bank as a result of such reliance. Bank will credit the amount of Loans Advances made under this Section 2.1 to such Borrower's deposit accountaccount with Bank, as identified in the Payment/Advance Form. (c) The Committed Revolving Line shall terminate on the Revolving Maturity Date, at which time all Advances under this Section 2.1 and other amounts due under this Agreement (except as otherwise expressly specified herein) shall be immediately due and payable.

Appears in 1 contract

Samples: Loan and Security Agreement (Spectranetics Corp)

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