Common use of Designated Account Clause in Contracts

Designated Account. Agent is authorized to make the Advances and the Term Loan, and Issuing Lender is authorized to issue the Letters of Credit, under this Agreement based upon telephonic or other instructions received from anyone purporting to be an Authorized Person, or without instructions if pursuant to Section 2.6(d). Administrative Borrower agrees to establish and maintain the Designated Account with the Designated Account Bank for the purpose of receiving the proceeds of the Advances requested by Borrowers and made by Agent or the Lenders hereunder. Unless otherwise agreed by Agent and Administrative Borrower, any Advance, Agent Advance, or Swing Loan requested by Borrowers and made by Agent or the Lenders hereunder shall be made to the Designated Account.

Appears in 8 contracts

Samples: Loan and Security Agreement (Midway Games Inc), Loan and Security Agreement (Dairy Mart Convenience Stores Inc), Loan and Security Agreement (Norstan Inc)

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Designated Account. Agent is authorized to make the Advances Advances, and the Term Loan, and Issuing Lender is authorized to issue the Letters of Credit, under this Agreement based upon telephonic or other instructions received from anyone purporting to be an Authorized Person, or without instructions if pursuant to Section 2.6(d). Administrative Subsidiary Borrower agrees to establish and maintain the Designated Account with the Designated Account Bank for the purpose of receiving the proceeds of the Advances requested by Borrowers Subsidiary Borrower and made by Agent or the Lenders hereunder. Unless otherwise agreed by Agent and Administrative Subsidiary Borrower, any Advance, Agent Advance, or Swing Loan requested by Borrowers Subsidiary Borrower and made by Agent or the Lenders hereunder shall be made to the Designated Account.

Appears in 4 contracts

Samples: Loan Agreement (Palm Inc), Loan Agreement (Palm Inc), Loan Agreement (Palm Inc)

Designated Account. Agent is authorized to make the Advances and the Term LoanAdvances, and Issuing Lender is authorized to issue the Letters of Credit, under this Agreement based upon telephonic or other instructions received from anyone purporting to be an Authorized Person, or without instructions if pursuant to Section 2.6(d). Administrative Borrower agrees to establish and maintain the a Designated Account for Borrowers with the Designated Account Bank for the purpose of receiving the proceeds of the Advances requested by Borrowers and made by Agent or the Lenders hereunder. Unless otherwise agreed by Agent and Administrative Borrower, any Advance, Agent Advance, Advance or Swing Loan requested by Borrowers and made by Agent or the Lenders hereunder shall be made to the Designated Account.

Appears in 4 contracts

Samples: Loan and Security Agreement (LSB Industries Inc), Loan and Security Agreement (LSB Industries Inc), Loan and Security Agreement (LSB Industries Inc)

Designated Account. Agent is authorized to make the Advances Advances, the Term Loan, and the Capex Term Loan, and Issuing Lender is authorized to issue the Letters of Credit, under this Agreement based upon telephonic or other instructions received from anyone purporting to be an Authorized PersonPerson or, or without instructions instructions, if pursuant to Section 2.6(d). Administrative Borrower agrees to establish and maintain the Designated Account with the Designated Account Bank for the purpose of receiving the proceeds of the Advances requested by Borrowers Borrower and made by Agent or the Lenders hereunder. Unless otherwise agreed by Agent and Administrative Borrower, any Advance, Advance or Agent Advance, or Swing Loan Advance requested by Borrowers Borrower and made by Agent or the Lenders hereunder shall be made to the Designated Account.

Appears in 3 contracts

Samples: Loan and Security Agreement (Freshpet, Inc.), And Security Agreement (Freshpet, Inc.), And Security Agreement (Freshpet, Inc.)

Designated Account. Agent is authorized to make the Advances and the Term Loan, and Issuing Lender is authorized to issue the Letters of Credit, under this Agreement based upon telephonic or other instructions received from anyone purporting to be an Authorized PersonPerson or, or without instructions instructions, if pursuant to Section 2.6(dSECTION 2.6(D). Administrative Borrower agrees to establish and maintain the Designated Account with the Designated Account Bank for the purpose of receiving the proceeds of the Advances requested by Borrowers and made by Agent or the Lenders hereunder. Unless otherwise agreed by Agent and Administrative Borrower, any Advance, Agent Protective Advance, or Swing Loan requested by Borrowers and made by Agent or the Lenders hereunder shall be made to the Designated Account.

Appears in 2 contracts

Samples: Credit Agreement (WHX Corp), Credit Agreement (Primedex Health Systems Inc)

Designated Account. Agent is authorized to make the Advances and the Term Loan, and Issuing Lender is authorized to issue the Letters of Credit, under this Agreement based upon telephonic or other instructions received from anyone purporting to be an Authorized PersonPerson or, or without instructions instructions, if pursuant to Section 2.6(d). Administrative Borrower agrees to establish and maintain the Designated Account with the Designated Account Bank for the purpose of receiving the proceeds of the Advances requested by Borrowers and made by Agent or the Lenders hereunder. Unless otherwise agreed by Agent and Administrative Borrower, any Advance, Agent Advance, or Swing Loan requested by Borrowers and made by Agent or the Lenders hereunder shall be made to the Designated Account.

Appears in 2 contracts

Samples: Loan and Security Agreement (Evergreen Holdings Inc), Loan and Security Agreement (Trust Created February 25 1986)

Designated Account. Agent is authorized to make the Advances and the Term Loan, and Issuing Lender is authorized to issue the Letters of Credit, under this Agreement based upon telephonic or other instructions received from anyone purporting to be an Authorized Person, or without instructions if pursuant to Section SECTION 2.6(d). Administrative Borrower agrees to establish and maintain the Designated Account with the Designated Account Bank for the purpose of receiving the proceeds of the Advances requested by Borrowers and made by Agent or the Lenders hereunder. Unless otherwise agreed by Agent and Administrative Borrower, any Advance, Agent Advance, or Swing Loan requested by Borrowers and made by Agent or the Lenders hereunder shall be made to the Designated Account.

Appears in 2 contracts

Samples: Loan and Security Agreement (Midway Games Inc), Loan and Security Agreement (Peregrine Systems Inc)

Designated Account. Agent is authorized to make the Advances and the Term Loan, and Issuing Lender is authorized to issue the Letters of Credit, under this Agreement based upon telephonic or other instructions received from anyone purporting to be an Authorized PersonPerson or, or without instructions instructions, if pursuant to Section SECTION 2.6(d). Administrative Borrower agrees to establish and maintain the Designated Account with the Designated Account Bank for the purpose of receiving the proceeds of the Advances requested by Borrowers and made by Agent or the Lenders hereunder. Unless otherwise agreed by Agent and Administrative Borrower, any Advance, Agent Advance, or Swing Loan requested by Borrowers and made by Agent or the Lenders hereunder shall be made to the Designated Account.

Appears in 2 contracts

Samples: Loan and Security Agreement (Evergreen International Aviation Inc), Loan and Security Agreement (James River Coal CO)

Designated Account. Administrative Agent is authorized to make the Advances and the Term LoanLoans, and Issuing Lender is authorized to issue the Letters of Credit, under this Agreement based upon telephonic or other instructions received from anyone purporting to be an Authorized PersonPerson or, or without instructions instructions, if pursuant to Section 2.6(d). Administrative Borrower agrees to establish and maintain the Designated Account with the Designated Account Bank for the purpose of receiving the proceeds of the Advances requested by Borrowers Borrower and made by Administrative Agent or the Lenders hereunder. Unless otherwise agreed by Administrative Agent and Administrative Borrower, any Advance, Agent Protective Advance, or Swing Loan requested by Borrowers Borrower and made by Administrative Agent or the Lenders hereunder shall be made to the Designated Account.

Appears in 2 contracts

Samples: Credit Agreement (Transtechnology Corp), Credit Agreement (Transtechnology Corp)

Designated Account. Agent is authorized to make the Advances and the Term LoanLoans, and Issuing Lender is authorized to issue the Letters of Credit, under this Agreement based upon telephonic or other instructions received from anyone purporting to be an Authorized Person, or without instructions if pursuant to Section 2.6(d). Administrative Borrower agrees to establish and maintain the Designated Account with the Designated Account Bank for the purpose of receiving the proceeds of the Advances and Terms Loans requested by Borrowers and made by Agent or the Lenders hereunder. Unless otherwise agreed by Agent and Administrative BorrowerParent, any Advance, Term Loan, Agent Advance, or Swing Loan requested by Borrowers and made by Agent or the Lenders hereunder shall be made to the Designated Account.

Appears in 1 contract

Samples: Loan and Security Agreement (Outsourcing Services Group Inc)

Designated Account. Agent is authorized to make the Advances and the Term Loan, and Issuing Lender is authorized to issue the Letters of Credit, under this Agreement based upon telephonic or other instructions received from anyone purporting to be an Authorized Person, or without instructions if pursuant to Section 2.6(d). Administrative Borrower agrees to establish and maintain the Designated Account with the Designated Account Bank for the purpose of receiving the proceeds of the Advances requested by Borrowers and made by Agent or the Lenders hereunder. Unless otherwise agreed by Agent and the chief executive officer or chief financial officer of Administrative Borrower, any AdvanceAdvance (other than the initial extension of credit hereunder), Agent Advance, or Swing Loan requested by Borrowers and made by Agent or the Lenders hereunder shall be made to the Designated Account.

Appears in 1 contract

Samples: Loan and Security Agreement (Mercator Software Inc)

Designated Account. Agent is authorized to make the Advances and the Term Loan, and Issuing Lender is authorized to issue the Letters of Credit, under this Agreement based upon telephonic or other written instructions (which may be by telecopy) received from anyone purporting to be an Authorized Person, or without instructions if pursuant to Section 2.6(dSECTION 2.6(D). Administrative Borrower agrees to establish and maintain the Designated Account with the Designated Account Bank for the purpose of receiving the proceeds of the Advances requested by Borrowers Borrower and made by Agent or the Lenders hereunder. Unless otherwise agreed by Agent and Administrative Borrower, any Advance, Agent Advance, or Swing Loan requested by Borrowers Borrower and made by Agent or the Lenders hereunder shall be made to the Designated Account.

Appears in 1 contract

Samples: Loan and Security Agreement (Nabi Biopharmaceuticals)

Designated Account. Agent is authorized to make the Advances and Advances, the Term Loan, and Issuing Lender is authorized to issue the Letters of Credit, Credit and F/X Undertakings under this Agreement based upon telephonic or other instructions received from anyone purporting to be an Authorized Person, or without instructions if pursuant to Section SECTION 2.6(d). Administrative Borrower agrees to establish and maintain the Designated Account with the Designated Account Bank for the purpose of receiving the proceeds of the Advances requested by Borrowers Administrative Borrower and made by Agent or the Lenders hereunder. Unless otherwise agreed by Agent and Administrative Borrower, any Advance, Agent Advance, or Swing Loan requested by Borrowers Administrative Borrower and made by Agent Agent, Swing Lender, or the Lenders hereunder shall be made to the Designated Account.

Appears in 1 contract

Samples: Loan and Security Agreement (Star Telecommunications Inc)

Designated Account. Agent is authorized to make the Advances and the Term LoanLoans, and Issuing Lender is authorized to issue the Letters of Credit, under this Agreement based upon telephonic or other instructions received from anyone purporting to be an Authorized Person, or without instructions if pursuant to Section 2.6(d). Administrative Borrower agrees to establish and maintain the Designated Account with the Designated Account Bank for the purpose of receiving the proceeds of the Advances requested by Borrowers and made by Agent or the Lenders hereunder. Unless otherwise agreed by Agent and Administrative Borrower, any Advance, Advance or Agent Advance, or Swing Loan Advance requested by Borrowers and made by Agent or the Lenders hereunder shall be made to the Designated Account.

Appears in 1 contract

Samples: Loan and Security Agreement (Midas Inc)

Designated Account. Agent is authorized to make the Advances and the Term LoanLoans, and Issuing Lender is authorized to issue the Letters of Credit, under this Agreement based upon telephonic or other instructions received from anyone purporting to be an Authorized Person, or without instructions if pursuant to Section SECTION 2.6(d). Administrative Borrower agrees to establish and maintain the Designated Account with the Designated Account Bank for the purpose of receiving the proceeds of the Advances requested by Borrowers and made by Agent or the Lenders hereunder. Unless otherwise agreed by Agent and Administrative Borrower, any Advance, Agent Advance, or Swing Loan requested by Borrowers and made by Agent or the Lenders hereunder shall be made to the Designated Account.

Appears in 1 contract

Samples: Loan and Security Agreement (Amtrol Inc /Ri/)

Designated Account. Agent is authorized to make the Advances and the ------------------ Term Loan, and Issuing Lender is authorized to issue the Letters of Credit, under this Agreement based upon telephonic or other instructions received from anyone purporting to be an Authorized Person, or without instructions if pursuant to Section 2.6(d). The Administrative Borrower agrees to establish and -------------- maintain the Designated Account with the Designated Account Bank for the purpose of receiving the proceeds of the Advances requested by the Administrative Borrowers and made by Agent or the Lenders hereunder. Unless otherwise agreed by Agent and Administrative Borrower, any Advance, Agent Advance, Advance or Swing Loan requested by Borrowers and made by Agent or the Lenders hereunder shall be made to the Designated Account.

Appears in 1 contract

Samples: Loan and Security Agreement (Hologic Inc)

Designated Account. Agent is authorized to make the Advances and the Term LoanAdvances, and Issuing Lender is authorized to issue or cause the issuance the Letters of Credit, under this Agreement based upon telephonic or other instructions received from anyone purporting to be an Authorized PersonPerson or, or without instructions instructions, if pursuant to Section 2.6(d). Administrative Borrower agrees to establish and maintain the Designated Account with the Designated Account Bank for the purpose of receiving the proceeds of the Advances requested by Borrowers Borrower and made by Agent or the Lenders hereunder. Unless otherwise directed in writing by Borrower and agreed to by Agent and Administrative BorrowerAgent, any Advance, Agent Protective Advance, or Swing Loan requested by Borrowers Borrower and made by Agent or the Lenders hereunder shall be made to the Designated Account.

Appears in 1 contract

Samples: Credit Agreement (Storm Cat Energy CORP)

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Designated Account. Agent is authorized to make the Advances and the Term LoanCapital Expenditures Loans, and Issuing Lender is authorized to issue the Letters of Credit, under this Agreement based upon telephonic or other instructions received from anyone purporting to be an Authorized PersonPerson or, or without instructions instructions, if pursuant to Section 2.6(d). Administrative Borrower agrees to establish and maintain the Designated Account with the Designated Account Bank for the purpose of receiving the proceeds of the Advances requested by Borrowers Borrower and made by Agent or the Lenders hereunder. Unless otherwise agreed by Agent and Administrative Borrower, any Advance, Agent Advance, or Swing Loan requested by Borrowers Borrower and made by Agent or the Lenders hereunder shall be made to the Designated Account.

Appears in 1 contract

Samples: Loan and Security Agreement (Sharper Image Corp)

Designated Account. Agent is authorized to make the Advances and the Delayed Draw Term Loan, and Issuing Lender is authorized to issue the Letters of Credit, under this Agreement based upon telephonic or other instructions received from anyone purporting to be an Authorized PersonPerson or, or without instructions instructions, if pursuant to Section 2.6(d). Administrative Borrower agrees to establish and maintain the Designated Account with the Designated Account Bank CNB for the purpose of receiving the proceeds of the Advances and the Delayed Draw Term Loan requested by Borrowers Borrower and made by Agent or the Lenders hereunder. Unless otherwise agreed by Agent and Administrative Borrower, any Advance, Agent Advance, Advance or Swing Delayed Draw Term Loan requested by Borrowers Borrower and made by Agent or the Lenders hereunder shall be made to the Designated Account.

Appears in 1 contract

Samples: Loan and Security Agreement (Freshpet, Inc.)

Designated Account. Agent is Agents and the Lenders are authorized to make the Advances and the Term Loan, and Issuing Lender is authorized to issue the Letters of Credit, under this Agreement based upon telephonic or other instructions received from anyone purporting to be an Authorized Person, or without instructions if pursuant to Section 2.6(d). Administrative Borrower agrees to establish and maintain the Designated Account with the Designated Account Bank for the purpose of receiving the proceeds of the Advances requested by Borrowers Borrower and made by Administrative Agent or the Lenders hereunder. Unless otherwise agreed by Agent Agents and Administrative Borrower, any Advance, Agent Advance, or Swing Loan requested by Borrowers Borrower and made by Agent Agents or the Lenders hereunder shall be made to the Designated Account.

Appears in 1 contract

Samples: Loan and Security Agreement (Northland Cranberries Inc /Wi/)

Designated Account. Agent is authorized to make the Advances Advances, and the ------------------ Term Loan, and Issuing Lender is authorized to issue the Letters of Credit, under this Agreement based upon telephonic or other instructions received from anyone purporting to be an Authorized Person, or without instructions if pursuant to Section SECTION 2.6(d). Administrative Borrower agrees to establish and maintain the --------------- Designated Account with the Designated Account Bank for the purpose of receiving the proceeds of the Advances requested by Borrowers Borrower and made by Agent or the Lenders hereunder. Unless otherwise agreed by Agent and Administrative Borrower, any Advance, Agent Advance, or Swing Loan requested by Borrowers Borrower and made by Agent or the Lenders hereunder shall be made to the Designated Account.

Appears in 1 contract

Samples: Credit Agreement (Energy Corp of America)

Designated Account. Agent is authorized to make the Advances and the Term LoanAdvances, and Issuing Lender is authorized to issue the Letters of Credit, under this Agreement based upon telephonic or other instructions received from anyone purporting to be an Authorized PersonPerson or, or without instructions instructions, if pursuant to Section 2.6(d). Administrative Borrower agrees to establish and maintain the Designated Account with the Designated Account Bank for the purpose of receiving the proceeds of the Advances requested by Borrowers and made by Agent or the Lenders hereunder. Unless otherwise agreed by Agent and Administrative Borrower, any Advance, Agent Advance, or Swing Loan requested by Borrowers and made by Agent or the Lenders hereunder shall be made to the Designated Account.

Appears in 1 contract

Samples: Loan and Security Agreement (Advanced Marketing Services Inc)

Designated Account. Agent is authorized to make the Advances and the he Term LoanLoans, and Issuing Lender is authorized to issue the Letters of Credit, under this Agreement based upon telephonic or other instructions received from anyone purporting to be an Authorized Person, or without instructions if pursuant to Section SECTION 2.6(d). Administrative Borrower agrees to establish and maintain the Designated Account with the Designated Account Bank for the purpose of receiving the proceeds of the Advances requested by Borrowers Borrower and made by Agent or the Lenders hereunder. Unless otherwise agreed by Agent and Administrative Borrower, any Advance, Advance or Agent Advance, or Swing Loan requested by Borrowers Borrower and made by Agent or the Lenders hereunder shall be made to the Designated Account.

Appears in 1 contract

Samples: Loan and Security Agreement and Guaranty (Archibald Candy Corp)

Designated Account. . Agent is authorized to make the Advances and the Term LoanAdvances, and Issuing Lender Bank is authorized to issue the Letters of Credit, under this Agreement based upon telephonic or other instructions received from anyone purporting to be an Authorized Person, or without instructions if pursuant to Section 2.6(d). Administrative Borrower Bxxxxxxx agrees to establish and maintain the a Designated Account for Borrowers with the Designated Account Bank for the purpose of receiving the proceeds of the Advances requested by Borrowers Bxxxxxxxx and made by Agent or the Lenders hereunder. Unless otherwise agreed by Agent and Administrative Borrower, any Advance, Agent Advance, Advance or Swing Loan requested by Borrowers Bxxxxxxxx and made by Agent or the Lenders hereunder shall be made to the Designated Account.

Appears in 1 contract

Samples: Loan and Security Agreement (LSB Industries, Inc.)

Designated Account. Agent is authorized to make the Advances and the Term LoanAdvances, and Issuing Lender is authorized to issue or cause the issuance of the Letters of Credit, under this Agreement based upon telephonic or other instructions received from anyone purporting to be an Authorized PersonPerson or, or without instructions instructions, if pursuant to Section 2.6(d). Administrative Borrower agrees to establish and maintain the Designated Account with the Designated Account Bank for the purpose of receiving the proceeds of the Advances requested by Borrowers Borrower and made by Agent or the Lenders hereunder. Unless otherwise directed in writing by Borrower and agreed to by Agent and Administrative BorrowerAgent, any Advance, Agent Advance, Advance or Swing Loan Protective Advance requested by Borrowers Borrower and made by Agent or the Lenders hereunder shall be made to the Designated Account.

Appears in 1 contract

Samples: Dip Credit Agreement (Storm Cat Energy CORP)

Designated Account. Agent is authorized to make the Advances and the Term LoanAdvances, and Issuing Lender is authorized to issue the Letters of Credit, under this Agreement based upon telephonic or other instructions received from anyone purporting to be an Authorized Person, or without instructions if pursuant to Section 2.6(d). Administrative -------------- Borrower agrees to establish and maintain the Designated Account with the Designated Account Bank for the purpose of receiving the proceeds of the Advances requested by Borrowers Borrower and made by Agent or the Lenders hereunder. Unless otherwise agreed by Agent and Administrative Borrower, any Advance, Agent Advance, or Swing Loan requested by Borrowers Borrower and made by Agent or the Lenders hereunder shall be made to the Designated Account.

Appears in 1 contract

Samples: Credit Agreement (Energy Corp of America)

Designated Account. Agent is authorized to make the Advances and the Term Loan, and Issuing Lender is authorized to issue the Letters of Credit, under this Agreement based upon telephonic or other instructions received from anyone purporting to be an Authorized Person, or without instructions if pursuant to Section SECTION 2.6(d). Administrative Borrower agrees to establish and maintain the Designated Account with the Designated Account Bank for the purpose of receiving the proceeds of the Advances requested by Borrowers Borrower and made by Agent or the Lenders hereunder. Unless otherwise agreed by Agent and Administrative Borrower, any Advance, Agent Advance, or Swing Loan requested by Borrowers Borrower and made by Agent or the Lenders hereunder shall be made to the Designated Account.

Appears in 1 contract

Samples: Loan and Security Agreement (Abraxas Petroleum Corp)

Designated Account. Agent is authorized to make the Advances and the Term LoanAdvances, and Issuing Lender is authorized to issue the Letters of Credit, under this Agreement based upon telephonic or other instructions received from anyone purporting to be an Authorized Person, or without instructions if pursuant to Section SECTION 2.6(d). Administrative Borrower agrees to establish and maintain the Designated Account with the Designated Account Bank for the purpose of receiving the proceeds of the Advances requested by Borrowers and made by Agent or the Lenders hereunder. Unless otherwise agreed by Agent and Administrative Borrower, any Advance, Agent Advance, or Swing Loan requested by Borrowers and made by Agent or the Lenders hereunder shall be made to the Designated Account.

Appears in 1 contract

Samples: Loan and Security Agreement (Ultimate Electronics Inc)

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