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Common use of Loan Procedures Clause in Contracts

Loan Procedures. Customer may obtain Loans under this Agreement as provided in (a), (b) or (c) below: (a) [_] Customer shall give Lender [_] at least __________ business days’ prior notice or [_] __________ of any Loan requested under this Agreement, specifying the date and amount of the Loan. Lender will make the Loan available to Customer [_] by crediting the amount of the Loan to Customer’s account (acct. no. __________) with Lender or [_] __________. Each Loan which is less than the full amount available to Customer under this Agreement shall be in an amount not less than ______________. (b) [_] Lender will credit Customer’s account (acct. no. __________) with Lender whenever the [_] ledger [_] collected balance in the account is less than $__________ on any banking day (the “Target Amount”), for whatever reason. The Loan will be in an amount within the Credit Limit and the Borrowing Base sufficient to increase the balance to the Target Amount. Lender may decline to make any Loan and may refuse to pay any check drawn on the account if the amount available to Customer under this Agreement would not be sufficient to increase the balance in the account to the Target Amount. (c) |X| Lender will make Loans available to Customer by crediting amount of Loan to Customer’s account maintained with Lender. [_] Lender’s obligation to make each Loan (including the initial Loan) is subject to the further condition that Lender shall have received a certificate signed by Customer, dated the date of the Loan request and stating that the representations and warranties in section 5 are true and correct as of the date of the request and that no event of default has occurred and is continuing or would result from such Loan.

Appears in 1 contract

Samples: Revolving Credit Agreement (Middleton Doll Co)

Loan Procedures. Customer may obtain Loans under this Agreement as provided in (a), (b) or (c) below:. (a) [_] X Customer shall give Lender [_] at least ___________ business days' prior notice or [_] __________ TELEPHONIC NOTICE FOLLOWED BY NEXT BUSINESS DAY WRITTEN CONFIRMATION of any Loan requested under this Agreement, specifying the date and amount of the Loan. Lender will make the Loan available to Customer [_] X by crediting the amount of the Loan to Customer’s 's account (acct. no. __________0000000) with Lender lender or [_] __________. ------------------------------------------------------------------------------- ------------------------------------------------------------------------------- Each Loan which is less than the full amount available to Customer under this Agreement shall be in an amount not less than ______________$ 1000.00. (b) [_] Lender will credit Customer’s 's account (acct. no. ,__________) with Lender whenever the [_] ledger [_] collected balance in the account is less than $__________ on any banking day (the "Target Amount"), for far whatever reason. The Loan will be in an amount within the Credit Limit and the Borrowing Base sufficient to increase the balance to the Target Amount. Lender may decline to make any Loan and may refuse to pay any check drawn on the account if the amount available to Customer under this Agreement would not be sufficient to increase the balance in the account to the Target Amount. (c) |X| Lender will make Loans available to Customer by crediting amount of Loan to Customer’s account maintained with Lender. [_] Lender’s Xxxxxx's obligation to make each Loan (including the initial Loan) is subject to the further condition that Lender shall have received a certificate signed by Customer, dated the date of the Loan request and stating that the representations and warranties in section 5 are true and correct as of the date of the request and that no event of default has occurred and is continuing or would result from such Loan.

Appears in 1 contract

Samples: Revolving Credit Agreement (Chromaline Corp)

Loan Procedures. Customer may obtain Loans under this Agreement as provided in (a), (b) or (c) below:. (a) [_] X/ Customer shall give Lender [_] / / at least __________ business days' prior notice or [_] __________ / /TELEPHONIC NOTICE FOLLOWED BY NEXT BUSINESS DAY WRITTEN CONFIRMATION of any Loan requested under this Agreement, specifying the date and amount of the Loan. Lender will make the Loan available to Customer [_] /X/ by crediting the amount of the Loan to Customer’s 's account (acctACCT. noNO. 0000000) with lender or / / __________) with Lender or [_] __________. _____________________________________________ _______________________________________________________________________________ Each Loan which is less than the full amount available to Customer under this Agreement shall be in an amount not less than $ 1000.00. (b) Lender will credit Customer's account (acct. no, ______________. (b) [_] Lender will credit Customer’s account (acct. no. ___________ ) with Lender whenever the [_] ledger [_] collected balance in the account is less than $__________ on any banking day (the "Target Amount'), for far whatever reason. The Loan will be in an amount within the Credit Limit and the Borrowing Base sufficient to increase the balance to the Target Amount. Lender may decline to make any Loan and may refuse to pay any check drawn on the account if the amount available to Customer under this Agreement would not be sufficient to increase the balance in the account to the Target Amount. (c) |X| Lender will make Loans available to Customer by crediting amount of Loan to Customer’s account maintained with Lender. [_] Lender’s Xxxxxx's obligation to make each Loan (including the initial Loan) is subject to the further condition that Lender shall have received a certificate signed by Customer, dated the date of the Loan request and stating that the representations and warranties in section 5 are true and correct as of the date of the request and that no event of default has occurred and is continuing or would result from such Loan.

Appears in 1 contract

Samples: Revolving Credit Agreement (Chromaline Corp)

Loan Procedures. Customer may obtain Loans under this Agreement as provided in (a), (b) or (c) below:. (a) [_] |X| Customer shall give Lender [_] |X| at least __________ two (2) business days' prior notice or [_] __________ |_| --------------------------------------------------------------- of any Loan requested under this Agreement, specifying the date and amount of the Loan. Lender will make the Loan available to Customer [_] |X| by crediting the amount of the Loan to Customer’s 's account (acct. no. __________) with Lender or [_] ________________) with |X| Investors Bank . ________________________________________________________________ Each Loan which is less than the full amount available to Customer under this Agreement shall be in an amount not less than ______________$ 500.00 . (b) [_] |_| Lender will credit Customer’s 's account (acct. no. _____________________) with Lender whenever the [_] ledger [_] collected balance in the account is less than $_____________________ on any banking day (the "Target Amount"), for whatever reason. The Loan will be in an amount within the Credit Limit and the Borrowing Base sufficient to increase the balance to the Target Amount. Lender may decline to make any Loan and may refuse to pay any check drawn on the account if the amount available to Customer under this Agreement would not be sufficient to increase the balance in the account to the Target Amount. (c) |X| Lender will make Loans available to Customer by crediting amount of Loan to Customer’s account maintained with |_| ----------------------------------------------------------------- ----------------------------------------------------------------- |_| Lender. [_] Lender’s 's obligation to make each Loan (including the initial Loan) is subject to the further condition that Lender shall have received a certificate signed by Customer, dated the date of the Loan request and stating that the representations and warranties in section 5 are true and correct as of the date of the request and that no event of default has occurred and is continuing or would result from such Loan.

Appears in 1 contract

Samples: Revolving Credit Agreement (Schonath George R)