Common use of Determination of Balance of Revolving Loan Clause in Contracts

Determination of Balance of Revolving Loan. In determining the outstanding balance of the Revolving Loan, (i) funds transferred from the Blocked Account to the Lender’s account at HSBC, Account Name: Keltic Financial Partners, LP; Account No. 590978403 (or such other account as Lender may direct from time to time), before 2 p.m. Eastern Time of a Business Day will be credited on the second (2nd) Banking Day after such Banking Day, and thereafter on the following Banking Day, as follows: (a) first, to the outstanding principal balance of the Revolving Loan, and (b) second, to all other Obligations in such order as Lender shall elect; (ii) any other form of funds received by Lender will be credited on the Banking Day when Lender has received notification that such funds are collected and available to Lender if before 2 p.m. (Eastern Time), and thereafter on the following Banking Day; (iii) all credits shall be conditional upon final payment to Lender in cash or solvent credits of the items giving rise to them and, if any item is not so paid, the amount of any credit given for it shall be charged to the balance of the Revolving Loan whether or not the item is returned; and (iv) for the purpose of computing interest on the Revolving Loan and other Obligations, interest shall continue to accrue on the amount of any payment credited to the Revolving Loan balance by Lender for a period of two (2) calendar days after the date so credited. Subject to Lender’s rights, as set forth in Section 16, as soon as available payment is received by Lender with respect to all credits, if there are no outstanding Obligations hereunder, then Lender in accordance with and subject to applicable law, will transfer upon Borrower’s written request the funds on deposit in the Blocked Account to Borrower’s operating account.

Determination of Balance of Revolving Loan. In determining the outstanding balance of the Revolving Loan, (i) funds transferred from the Blocked Account to the Lender’s account at HSBCXxxxxx Trust and Savings Bank, ABA # 000000000, Xxxxxxx, Xxxxxxxx 00000, Account Name: Keltic Financial PartnersPartners II, LP; L.P., Account No. 590978403 0000000 (or such other account as Lender may direct from time to time), before 2 p.m. Eastern Time of a Business Day will be credited on the second (2nd) Banking Day after such Banking Day, and thereafter on the following Banking Day, as follows: (a) first, to the outstanding principal balance of the Revolving Loan, and (b) second, to all other Obligations in such order as Lender shall elect; (ii) any other form of funds received by Lender will be credited on the Banking Day when Lender has received notification that such funds are collected and available to Lender if before 2 p.m. (Eastern Time), and thereafter on the following Banking Day; (iii) all credits shall be conditional upon final payment to Lender in cash or solvent credits of the items giving rise to them and, if any item is not so paid, the amount of any credit given for it shall be charged to the balance of the Revolving Loan whether or not the item is returned; and (iv) for the purpose of computing interest on the Revolving Loan and other Obligations, interest shall continue to accrue on the amount of any payment credited to the Revolving Loan balance by Lender for a period of two (2) calendar days after the date so credited. Subject to Lender’s rights, as set forth in Section 1614, as soon as available payment is received by Lender with respect to all credits, if there are no outstanding Obligations hereunder, then Lender in accordance with and subject to applicable law, will transfer upon Borrower’s written request the funds on deposit in the Blocked Account to Borrower’s operating account.

Determination of Balance of Revolving Loan. In determining the outstanding balance of the Revolving Loan, (i) available funds transferred from the Blocked Account to in the Lender’s account at HSBCXxxxxx Trust and Savings Bank, Xxxxxxx, Xxxxxxxx 00000, Account Name: Keltic Financial Partners, LP; , Account No. 590978403 0000000, ABA #000000000 (or such other account as Lender may direct from time to time), before 2 p.m. Eastern Time of a Business Banking Day will be credited on the second (2nd) Banking Day after such that Banking Day, and thereafter on the following Banking Day, as follows: and shall be applied to pay late charges, accrued and unpaid interest, principal, escrows (a) firstif any), to the outstanding principal balance and any other fees, costs and expenses and other of the Revolving LoanObligations for which Borrowers are obligated to Lender, and (b) second, to all other Obligations in such order as Lender shall electmay elect from time to time in its sole discretion; (ii) any other form of funds received by Lender will be credited and applied as set forth above on the Banking Day when Lender has received notification that such funds are collected and available to Lender if before 2 p.m. (Eastern Time), and thereafter on the following Banking Day; (iii) all credits shall be conditional upon final payment to Lender in cash or solvent credits of the items giving rise to them and, if any item is not so paid, the amount of any credit given for it shall be charged to the balance of the Revolving Loan whether or not the item is returned; and (iv) for the purpose of computing interest on the Revolving Loan and other Obligations, interest shall continue to accrue on the amount of any payment credited to the Revolving Loan balance by Lender for a period of two (2) calendar days 2)Banking Days after the date so credited. Subject to Lender’s rights, as set forth in Section 16, as soon as available payment is received by Lender with respect to all credits, if there are no outstanding Obligations hereunder, then Lender in accordance with and subject to applicable law, will transfer upon Borrower’s written request the funds on deposit in the Blocked Account to Borrower’s operating account.