Common use of Designated Account Clause in Contracts

Designated Account. Foothill is authorized to make the Advances and 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(e). 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 Borrower and made by Foothill hereunder. Unless otherwise agreed by Foothill and Borrower, any Advance requested by Borrower and made by Foothill hereunder shall be made to the Designated Account.

Appears in 4 contracts

Samples: Loan and Security Agreement (Multigraphics Inc), Loan and Security Agreement (Starcraft Corp /In/), Loan and Security Agreement (Bpi Packaging Technologies Inc)

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Designated Account. Foothill is authorized to make the Advances and 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(e). 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 Borrower and made by Foothill hereunder. Unless otherwise agreed by Foothill and Borrower, any Advance requested by Borrower and made by Foothill hereunder shall be made to the Designated Account.

Appears in 2 contracts

Samples: Loan and Security Agreement (Majestic Star Casino LLC), Loan and Security Agreement (Garden Botanika Inc)

Designated Account. Foothill is authorized to make the Advances and Advances, the Letters of Credit and the Term Loan 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(e). Borrower agrees Borrowers agree to establish and maintain the Designated Account with the Designated Account Bank for the purpose of receiving the proceeds of the Advances requested by any Borrower and made by Foothill hereunder. Unless otherwise agreed by Foothill and BorrowerBorrowers, any Advance requested by any Borrower and made by Foothill hereunder shall be made to the Designated Account.

Appears in 2 contracts

Samples: Loan and Security Agreement (Effective Management Systems Inc), Loan and Security Agreement (Starcraft Corp /In/)

Designated Account. Foothill is authorized to make the Advances and the Letters of Credit Term Loan 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(e). 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 the Term Loan requested by Borrower and made by Foothill hereunder. Unless otherwise agreed by Foothill and Borrower, any Advance and the Term Loan requested by Borrower and made by Foothill hereunder shall be made to the Designated Account.

Appears in 2 contracts

Samples: Loan and Security Agreement (Childrens Broadcasting Corp), Loan and Security Agreement (Childrens Broadcasting Corp)

Designated Account. Foothill is authorized to make the Advances and Advances, the Letters of Credit Credit, and the Term Loan 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(e). 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 Borrower and made by Foothill hereunder. Unless otherwise agreed by Foothill and Borrower, any Advance requested by Borrower and made by Foothill hereunder shall be made to the Designated Account.

Appears in 2 contracts

Samples: Loan and Security Agreement (Intergraph Corp), Loan and Security Agreement (Intergraph Corp)

Designated Account. Foothill is authorized to make the Advances and 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(e). 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 Borrower and made by Foothill hereunder. Unless otherwise agreed by Foothill and Borrower, any Advance requested by Borrower and made by Foothill hereunder shall be made to the Designated Account.

Appears in 2 contracts

Samples: Loan and Security Agreement (Concurrent Computer Corp/De), Loan and Security Agreement (Computervision Corp /De/)

Designated Account. Foothill is authorized to make the Advances and 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(e). 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 Borrower and made by Foothill hereunder. Unless otherwise agreed by Foothill and Borrower, any Advance requested by Borrower and made by Foothill hereunder shall be made to the Designated Account.

Appears in 2 contracts

Samples: Loan and Security Agreement (Network Computing Devices Inc), Loan and Security Agreement (Incomnet Inc)

Designated Account. Foothill is authorized to make the Advances and 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(e). Borrower agrees Borrowers agree to establish and maintain the a single Designated -------------- Account with the Designated Account Bank for the purpose of receiving the proceeds of the Advances requested by Borrower Borrowers and made by Foothill hereunder. Unless otherwise agreed by Foothill and BorrowerBorrowers, any Advance requested by Borrower Borrowers and made by Foothill hereunder shall be made to the Designated Account.

Appears in 1 contract

Samples: Loan and Security Agreement (Digital Generation Systems Inc)

Designated Account. Foothill is authorized to make the Advances and the Letters of Credit 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(e). 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 Borrower and made by Foothill hereunder. Unless otherwise agreed by Foothill and Borrower, any Advance requested by Borrower and made by Foothill hereunder shall be made to the Designated Account.

Appears in 1 contract

Samples: Loan and Security Agreement (Data Systems Network Corp)

Designated Account. Foothill is authorized to make the Advances and the Letters of Credit Loans 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(e2.5(e). Borrower agrees to establish and maintain the Designated Account with the Designated Account Bank for the purpose of receiving the proceeds of the Advances any Loan requested by Borrower and made by Foothill hereunder. Unless otherwise agreed by Foothill and Borrower, any Advance Loan requested by Borrower and made by Foothill hereunder shall be made to the Borrower's Designated Account.

Appears in 1 contract

Samples: Loan and Security Agreement (Brill Media Co LLC)

Designated Account. Foothill is authorized to make the Advances and Advances, the Letters of Credit Credit, and the Term Loan Subline, 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(e). 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 Borrower and made by Foothill hereunder. Unless otherwise agreed by Foothill and Borrower, any Advance requested by Borrower and made by Foothill hereunder shall be made to the Designated Account.

Appears in 1 contract

Samples: Loan and Security Agreement (Allied Products Corp /De/)

Designated Account. Foothill is authorized to make the Advances and 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(e2.3(e). 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 Borrower and made by Foothill hereunder. Unless otherwise agreed by Foothill and Borrower, any Advance requested by Borrower and made by Foothill hereunder shall be made to the Designated Account.

Appears in 1 contract

Samples: Loan and Security Agreement (Banyan Systems Inc)

Designated Account. Foothill is authorized to make the Advances and the Letters of Credit Term Loan 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(e2.6(d). 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 Borrower and made by Foothill hereunder. Unless otherwise agreed by Foothill and Borrower, any Advance requested by Borrower and made by Foothill hereunder shall be made to the Designated Account.

Appears in 1 contract

Samples: Loan and Security Agreement (Lasersight Inc /De)

Designated Account. Foothill is authorized to make the Advances and Advances, the Letters of Credit and the Term Loans 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(e). Borrower agrees Borrowers agree to establish and maintain the a single Designated Account with the Designated Account Bank for the purpose of receiving the proceeds of the Advances requested by Borrower Borrowers and made by Foothill hereunder. Unless otherwise agreed by Foothill and BorrowerBorrowers, any Advance requested by Borrower Borrowers and made by Foothill hereunder shall be made to the Designated Account.

Appears in 1 contract

Samples: Loan and Security Agreement (Allied Healthcare Products Inc)

Designated Account. Foothill is authorized to make the Advances and 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(eSECTION 2.6(E). 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 Borrower and made by Foothill hereunder. Unless otherwise agreed by Foothill and Borrower, any Advance requested by Borrower and made by Foothill hereunder shall be made to the Designated Account.

Appears in 1 contract

Samples: Loan and Security Agreement (National Media Corp)

Designated Account. Foothill is authorized to make the Advances and Advances, 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(e). Borrower agrees 2.6(e).Borrowers agree to establish --------------- and maintain the a single Designated Account with the Designated Account Bank for the purpose of receiving the proceeds of the Advances requested by Borrower Borrowers and made by Foothill hereunder. Unless otherwise agreed by Foothill and BorrowerBorrowers, any Advance requested by Borrower Borrowers and made by Foothill hereunder shall be made to the Designated Account.

Appears in 1 contract

Samples: Loan and Security Agreement (Allied Healthcare Products Inc)

Designated Account. Foothill is authorized to make the Advances and 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(e2.4(e). 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 Borrower and made by Foothill hereunder. Unless otherwise agreed by Foothill and Borrower, any Advance requested by Borrower and made by Foothill hereunder shall be made to the Designated Account.

Appears in 1 contract

Samples: Loan and Security Agreement (Cortelco Systems Inc)

Designated Account. Foothill is authorized to make the Advances and 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(e). 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 Borrower Borrowers and made by Foothill hereunder. Unless otherwise agreed by Foothill and Administrative Borrower, any Advance requested by Borrower Borrowers and made by Foothill hereunder shall be made to the Designated Account.

Appears in 1 contract

Samples: Loan and Security Agreement (P Com Inc)

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Designated Account. Foothill is authorized to make the Advances and Advances, the Letters of Credit and the Term Loan 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(e2.5(e). 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 Borrower and made by Foothill hereunder. Unless otherwise agreed by Foothill and Borrower, any Advance requested by Borrower and made by Foothill hereunder shall be made to the Designated Account.

Appears in 1 contract

Samples: Loan and Security Agreement (Dorsey Trailers Inc)

Designated Account. Foothill is authorized to make the Advances and the Letters of Credit Term Loan, 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(e). 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 Borrower and made by Foothill hereunder. Unless otherwise agreed by Foothill and Borrower, any Advance requested by Borrower and made by Foothill hereunder shall be made to the Designated Account.

Appears in 1 contract

Samples: Loan and Security Agreement (Wam Net Inc)

Designated Account. Foothill is authorized to make the Advances and 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(e). Each 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 Borrower Borrowers and made by Foothill hereunder. Unless otherwise agreed by Foothill and BorrowerBorrowers, any Advance requested by a Borrower and made by Foothill hereunder shall be made to the Designated Account.

Appears in 1 contract

Samples: Loan and Security Agreement (Global Sports Inc)

Designated Account. Foothill is authorized to make the Advances and Advances, the Letters of Credit and the Term Loan 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(e). Borrower agrees Borrowers agree to establish and maintain the a single Designated Account with the Designated Account Bank for the purpose of receiving the proceeds of the Advances requested by Borrower Borrowers and made by Foothill hereunder. Unless otherwise agreed by Foothill and BorrowerBorrowers, any Advance requested by Borrower Borrowers and made by Foothill hereunder shall be made to the Designated Account.

Appears in 1 contract

Samples: Loan and Security Agreement (Morrow Snowboards Inc)

Designated Account. Foothill is authorized to make the Advances and the Letters of Credit in immediately available funds 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(e2.4(e). 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 Borrower and made by Foothill hereunder. Unless otherwise agreed by Foothill and Borrower, any Advance requested by Borrower and made by Foothill hereunder shall be made to the Designated Account.

Appears in 1 contract

Samples: Assumption Agreement (Cortelco Systems Inc)

Designated Account. Foothill is authorized to make the Advances and 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(eSECTION 2.4(e). 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 Borrower and made by Foothill hereunder. Unless otherwise agreed by Foothill and Borrower, any Advance requested by Borrower and made by Foothill hereunder shall be made to the Designated Account.

Appears in 1 contract

Samples: Loan and Security Agreement (Ultimate Electronics Inc)

Designated Account. Foothill is authorized to make the Advances and Supplemental Advances and 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(e). 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 Borrower and made by Foothill hereunder. Unless otherwise agreed by Foothill and Borrower, any Advance or Supplemental Advance requested by Borrower and made by Foothill hereunder shall be made to the Designated Account.

Appears in 1 contract

Samples: Loan and Security Agreement (Oneita Industries Inc)

Designated Account. Foothill is authorized to make the Advances and Advances, the Letters of Credit and the Term Loan 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(e). 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 Borrower and made by Foothill hereunder. Unless otherwise agreed by Foothill and Borrower, any Advance requested by Borrower and made by Foothill hereunder shall be made to the Designated Account.

Appears in 1 contract

Samples: Loan and Security Agreement (Computron Software Inc)

Designated Account. Foothill is authorized to make the Advances and to cause to be issued 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(e). 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 Borrower and made by Foothill hereunder. Unless otherwise agreed by Foothill and Borrower, any Advance requested by Borrower and made by Foothill hereunder shall be made to the Designated Account.or

Appears in 1 contract

Samples: Loan and Security Agreement (Gi Joes Inc)

Designated Account. Foothill is authorized to make the Advances and Advances, the Letters of Credit Credit, and the FCC Term Loan 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(e). 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 Borrower and made by Foothill hereunder. Unless otherwise agreed by Foothill and Borrower, any Advance requested by Borrower and made by Foothill hereunder shall be made to the Designated Account.

Appears in 1 contract

Samples: Loan and Security Agreement (Grant Geophysical Inc)

Designated Account. Foothill is authorized to make the Advances Advances, and to arrange for the Letters of Credit 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(e). Borrower agrees Borrowers agree to establish and maintain the a single Designated Account with the Designated Account Bank for the purpose of receiving the proceeds of the Advances requested by Borrower Borrowers and made by Foothill hereunder. Unless otherwise agreed by Foothill and BorrowerBorrowers, any Advance requested by Borrower Borrowers and made by Foothill hereunder shall be made to the Designated Account.

Appears in 1 contract

Samples: Loan and Security Agreement (Celebrity Inc)

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