Common use of Loans Directly to Borrower Clause in Contracts

Loans Directly to Borrower. (a) If, for any reason, and at any time during the term of this Agreement, (i) any Borrower, including the Agent, as agent for each Borrower, shall be unable to, or prohibited from carrying out the terms and conditions of this Agreement (as determined by Silicon in Silicon's sole and absolute discretion); or (ii) Silicon deems it inexpedient (in Silicon's sole and absolute discretion) to continue making Loans to or for the account of any particular Borrower, or to channel such loans and Loans through the Agent, then Silicon may make Loans directly to such Borrower as Silicon determines to be expedient, which Loans may be made without regard to the procedures otherwise included in this Article 1. (b) In the event that Silicon determines to forgo the procedures included herein pursuant to which Loans are to be channeled through the Agent, then Silicon may designate one or more Borrower to fulfill the financial and other reporting requirements otherwise imposed herein upon the Agent. (c) Each Borrower shall remain liable to Silicon for the payment and performance of all Obligations (which payment and performance shall continue to be secured by all Collateral) notwithstanding any determination by Silicon to cease making Loans to or for the benefit of any Borrower.

Loans Directly to Borrower. (a) If, for any reason, and at any time during the term of this Agreement, (i) any Borrower, including the Agent, as agent for each Borrower, shall be unable to, or prohibited from carrying out the terms and conditions of this Agreement (as determined by Silicon in Silicon's ’s sole and absolute discretion); or (ii) Silicon deems it inexpedient (in Silicon's ’s sole and absolute discretion) to continue making Loans to or for the account of any particular Borrower, or to channel such loans and Loans through the Agent, then Silicon may make Loans directly to such Borrower as Silicon determines to be expedient, which Loans may be made without regard to the procedures otherwise included in this Article 1herein. (b) In the event that Silicon determines to forgo the procedures included herein pursuant to which Loans are to be channeled through the Agent, then Silicon may designate one or more Borrower to fulfill the financial and other reporting requirements otherwise imposed herein upon the Agent. (c) Each Borrower shall remain liable to Silicon for the payment and performance of all Obligations (which payment and performance shall continue to be secured by all Collateral) notwithstanding any determination by Silicon to cease making Loans to or for the benefit of any Borrower.

Loans Directly to Borrower. (a) If, for any reason, and at any time during the term of this Agreement, (i) any Borrower, including the Agent, as agent for each Borrower, shall be unable to, or prohibited prohib­ited from carrying out the terms and conditions of this Agreement (as determined deter­mined by Silicon in Silicon's ’s sole and absolute discretion); or (ii) Silicon deems it inexpedient (in Silicon's ’s sole and absolute discretion) to continue making Loans to or for the account of any particular Borrower, or to channel such loans and Loans through the Agent, then Silicon may make Loans directly to such Borrower as Silicon determines to be expedient, which Loans may be made without regard to the procedures otherwise included in this Article 1. (b) In the event that Silicon determines to forgo the procedures included herein pursuant to which Loans are to be channeled through the Agent, then Silicon may designate one or more Borrower to fulfill the financial and other reporting requirements otherwise imposed herein upon the Agent. (c) Each Borrower shall remain liable to Silicon for the payment and performance of all Obligations (which payment and performance perfor­mance shall continue to be secured by all Collateral) notwithstanding any determination by Silicon to cease making Loans to or for the benefit of any BorrowerBorrow­er.