Common use of Depository Clause in Contracts

Depository. The Borrower will establish and maintain with the Bank the Borrower’s primary depository accounts. If the Borrower fails to establish and/or maintain its primary depository accounts with the Bank, the Bank may, at its option, upon thirty (30) days notice to the Borrower, increase the interest rate payable by the Borrower under this Note by up to 1.00 percentage points (1.00%). The Bank’s right to increase the interest rate pursuant to this paragraph shall be in addition to any other rights or remedies the Bank may have under this Note, all of which are hereby reserved, and shall not constitute a waiver, release or limitation upon the Bank’s exercise of any such rights or remedies.

Appears in 8 contracts

Samples: Committed Line of Credit Note (Mikros Systems Corp), Committed Line of Credit Note (Weyco Group Inc), Committed Line of Credit Note (Charles & Colvard LTD)

AutoNDA by SimpleDocs

Depository. The Borrower will establish and maintain with the Bank the Borrower’s primary depository accounts. If the Borrower fails to establish and/or maintain its primary depository accounts with the Bank, the Bank may, at its option, upon thirty (30) days 30 days’ notice to the Borrower, increase the interest rate payable by the Borrower under this Note by up to 1.00 percentage 100 basis points (1.00%). The Bank’s right to increase the interest rate pursuant to this paragraph shall be in addition to any other rights or remedies the Bank may have under this Note, all of which are hereby reserved, and shall not constitute a waiver, release or limitation upon the Bank’s exercise of any such rights or remedies.

Appears in 2 contracts

Samples: Term Note (VerifyMe, Inc.), Revolving Line of Credit Note (VerifyMe, Inc.)

Depository. The Borrower will establish and maintain with the Bank the Borrower’s primary depository accounts. If the Borrower fails to establish and/or maintain its primary depository accounts with the Bank, the Bank may, at its option, upon thirty (30) days days’ notice to the Borrower, increase the interest rate payable by the Borrower under this Note by up to 1.00 percentage points (1.00%). The Bank’s right to increase the interest rate pursuant to this paragraph shall be in addition to any other rights or remedies the Bank may have under this Note, all of which are hereby reserved, and shall not constitute a waiver, release or limitation upon the Bank’s exercise of any such rights or remedies.,

Appears in 1 contract

Samples: Term Note (IMAC Holdings, Inc.)

Depository. The Borrower will establish and maintain with the Bank the Borrower’s 's primary depository accountsdepositmy acconnts. If the lfthe Borrower fails to establish and/or maintain its primary depository primmy depositmy accounts with the Bank, the Bank may, at its option, upon thirty (30) days 30 days' notice to the Borrower, increase the interest rate payable by the Borrower under this Note by up to 1.00 percentage 100 basis points (1.00I .00%). The Bank’s 's right to increase the interest rate pursuant to this paragraph shall be in addition to any other rights or remedies the Bank may have under this Note, all of which are hereby reserved, and shall not constitute a waiver, release or limitation upon the Bank’s 's exercise of any such rights or remedies. 24.

Appears in 1 contract

Samples: Revolving Line of Credit Note (Innovative Solutions & Support Inc)

AutoNDA by SimpleDocs

Depository. The Borrower will establish by December 1, 2011, and maintain with the Bank thereafter, the Borrower’s primary depository accounts. If the Borrower fails to establish and/or maintain its primary depository accounts with the Bank, the Bank may, at its option, upon thirty (30) days notice to the Borrower, increase the interest rate payable by the Borrower under this Note by up to 1.00 percentage points (1.00%). The Bank’s right to increase the interest rate pursuant to this paragraph shall be in addition to any other rights or remedies the Bank may have under this Note, all of which are hereby reserved, and shall not constitute a waiver, release or limitation upon the Bank’s exercise of any such rights or remedies.

Appears in 1 contract

Samples: Non Revolving Equipment Line of Credit Note (Bovie Medical Corp)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!