Making of Revolving Credit Loans. (a) A loan or advance under the Revolving Credit shall be made by the transfer of the proceeds of such loan or advance to the Operating Account or as otherwise instructed by the Borrower. (b) A loan or advance shall be deemed to have been made under the Revolving Credit (and the Borrower shall be indebted to the Agent and the Revolving Credit Lenders for the amount thereof immediately) at the following: (i) The Agent’s initiation of the transfer of the proceeds of such loan or advance in accordance with the Borrower’s instructions (if such loan or advance is of funds requested by the Borrower). (ii) The charging of the amount of such loan to the Loan Account (in all other circumstances). (c) Except where there has been gross negligence or willful misconduct on the part of the Agent or any Revolving Credit Lender, there shall not be any recourse to or liability of the Agent or any Revolving Credit Lender, on account of: (i) Any delay in the making of any loan or advance requested under the Revolving Credit. (ii) Any delay by any bank or other depository institution in treating the proceeds of any such loan or advance as collected funds. (iii) Any delay in the receipt, and/or any loss, of funds which constitute a loan or advance under the Revolving Credit, the wire transfer of which was properly initiated by the Agent in accordance with wire instructions provided to the Agent by the Borrower.
Appears in 3 contracts
Samples: Loan and Security Agreement (Gander Mountain Co), Loan and Security Agreement (Gander Mountain Co), Loan and Security Agreement (Gander Mountain Co)
Making of Revolving Credit Loans. (a) A loan or advance under the Revolving Credit shall be made by the transfer of the proceeds of such loan or advance to the Operating Account or as otherwise instructed by the Borrower.
(b) A loan or advance shall be deemed to have been made under the Revolving Credit (and the Borrower shall be indebted to the Agent and the Revolving Credit Lenders for the amount thereof immediately) at the following:
(i) The Agent’s 's initiation of the transfer of the proceeds of such loan or advance in accordance with the Borrower’s 's instructions (if such loan or advance is of funds requested by the Borrower).
(ii) The charging of the amount of such loan to the Loan Account (in all other circumstances).
(c) Except where there has been gross negligence or willful misconduct on the part of the Agent or any Revolving Credit Lender, there shall not be any recourse to or liability of the Agent or any Revolving Credit Lender, on account of:
(i) Any delay in the making of any loan or advance requested under the Revolving Credit.
(ii) Any delay by any bank or other depository institution in treating the proceeds of any such loan or advance as collected funds.
(iii) Any delay in the receipt, and/or any loss, of funds which constitute a loan or advance under the Revolving Credit, the wire transfer of which was properly initiated by the Agent in accordance with wire instructions provided to the Agent by the Borrower.
Appears in 2 contracts
Samples: Loan and Security Agreement (Gander Mountain Co), Loan and Security Agreement (Gander Mountain Co)
Making of Revolving Credit Loans. (a) A loan or advance under the Revolving Credit Loan shall be made by the transfer of the proceeds of such loan or advance Revolving Credit Loan to the Operating Account or as otherwise instructed by the Borrower.
(b) A loan or advance Revolving Credit Loan shall be deemed to have been made under the Revolving Credit (and the Borrower shall be indebted to the Agent and the Revolving Credit Lenders for the amount thereof immediately) at the following:
(i) The Agent’s initiation of the transfer of the proceeds of such loan or advance Revolving Credit Loan in accordance with the Borrower’s instructions (if such loan or advance Revolving Credit Loan is of funds requested by the Borrower).
(ii) The charging of the amount of such loan Revolving Credit Loan to the Loan Account (in all other circumstances).
(c) Except where there has been gross negligence or willful misconduct on the part of the Agent or any Revolving Credit Lender, there There shall not be any recourse to or liability of the Agent or any Revolving Credit Lender, on account ofof any of the following which is beyond the reasonable control of the Agent:
(i) Any delay in the making of any loan or advance requested under the Revolving Credit.
(ii) Any delay by any bank or other depository institution in treating the proceeds of any such loan or advance as collected funds.
(iii) Any delay in the receipt, and/or any loss, of funds which constitute a loan or advance Revolving Credit Loan under the Revolving Credit, the wire transfer of which was properly initiated by the Agent in accordance with wire instructions provided to the Agent by the Borrower.
Appears in 2 contracts
Samples: Loan and Security Agreement (Hastings Entertainment Inc), Loan and Security Agreement (Hastings Entertainment Inc)
Making of Revolving Credit Loans. (a) A loan or advance under the Revolving Credit Loan shall be made by the transfer of the proceeds of such loan or advance Revolving Credit Loan to the Operating Primary Blocked Account or as otherwise instructed by the Lead Borrower.
(b) A loan or advance Revolving Credit Loan shall be deemed to have been made under the Revolving Credit (and the Borrower Borrowers shall be indebted to the Administrative Agent and the Revolving Credit Lenders for the amount thereof immediately) at the following:
(i) The Administrative Agent’s initiation of the 's transfer of the proceeds of such loan or advance Revolving Credit Loan in accordance with the Lead Borrower’s 's instructions on thus Agreement (if such loan or advance Revolving Credit Loan is of funds requested by the Lead Borrower).
(ii) The charging of the amount of such loan Revolving Credit Loan to the Loan Account in accordance with the terms hereof (in all other circumstances).
(c) Except where there has been gross negligence or willful misconduct on the part of the Agent or any Revolving Credit Lender, there There shall not be any recourse to or liability of the Administrative Agent or any Revolving Credit Lender, on account of:
(i) Any delay in the making of any loan or advance Revolving Credit Loan requested under the Revolving Credit.
(ii) Any delay by any bank or other depository institution in treating the proceeds of any such loan or advance Revolving Credit Loan as collected funds.
(iii) Any delay in the receipt, and/or any loss, of funds which constitute a loan or advance Revolving Credit Loan under the Revolving Credit, the wire transfer of which was properly initiated by the Administrative Agent in accordance with wire instructions provided to the Administrative Agent by the Lead Borrower.
Appears in 1 contract
Making of Revolving Credit Loans. (a) A loan or advance under the Revolving Credit shall be made by the transfer of the proceeds of such loan or advance to the Operating Account or as otherwise instructed by the Lead Borrower.
(b) A loan or advance shall be deemed to have been made under the Revolving Credit (and the Borrower Borrowers shall be indebted to the Agent and the Revolving Credit Lenders for the amount thereof immediately) at the following:
(i) The Agent’s initiation of the transfer of the proceeds of such loan or advance in accordance with the Lead Borrower’s instructions (if such loan or advance is of funds requested by the Lead Borrower).
(ii) The charging of the amount of such loan to the Loan Account (in all other circumstances).
(c) Except where there has been gross negligence or willful misconduct on the part of the Agent or any Revolving Credit Lender, there shall not be any recourse to or liability of the Agent or any Revolving Credit Lender, on account of:
(i) Any delay in the making of any loan or advance requested under the Revolving Credit.
(ii) Any delay by any bank or other depository institution in treating the proceeds of any such loan or advance as collected funds.
(iii) Any delay in the receipt, and/or any loss, of funds which constitute a loan or advance under the Revolving Credit, the wire transfer of which was properly initiated by the Agent in accordance with wire instructions provided to the Agent by the Lead Borrower.
Appears in 1 contract
Making of Revolving Credit Loans. (a) A loan or advance under the Revolving Credit shall be made by the transfer of the proceeds of such loan or advance to the Operating Account or as otherwise instructed by the Lead Borrower.
(b) A loan or advance shall be deemed to have been made under the Revolving Credit (and the Borrower Borrowers shall be indebted to the Agent and the Revolving Credit Lenders for the amount thereof immediately) at the following:
(i) The Agent’s 's initiation of the transfer of the proceeds of such loan or advance in accordance with the Lead Borrower’s 's instructions (if such loan or advance is of funds requested by the Lead Borrower).
(ii) The charging of the amount of such loan to the Loan Account (in all other circumstances).
(c) Except where there has been a final judicial determination (in a proceeding in which the Agent or applicable Revolving Credit Lender has had an opportunity to be heard) that any of the following delays were the result of the Agent's or such Revolving Credit Lenders' gross negligence or willful misconduct on the part of the Agent or any Revolving Credit Lendermisconduct, there shall not be any recourse to or liability of the Agent or any Revolving Credit Lender, on account ofof any delay:
(i) Any delay in the making of any loan or advance requested under the Revolving Credit.
(ii) Any delay by any bank or other depository institution in treating the proceeds of any such loan or advance as collected funds.
(iii) Any delay in the receipt, and/or any loss, of funds which constitute a loan or advance under the Revolving Credit, the wire transfer of which was properly initiated by the Agent in accordance with wire instructions provided to the Agent by the Lead Borrower.
Appears in 1 contract
Making of Revolving Credit Loans. (a) A loan or advance under the Revolving Credit Loan shall be made by the transfer of the proceeds of such loan or advance Revolving Credit Loan to the Operating Account or as otherwise instructed by the Borrower.
(b) A loan or advance Revolving Credit Loan shall be deemed to have been made under the Revolving Credit (and the Borrower shall be indebted to the Agent and the Revolving Credit Lenders for the amount thereof immediately) at the following:
(i) The Agent’s 's initiation of the transfer of the proceeds of such loan or advance Revolving Credit Loan in accordance with the Borrower’s 's instructions (if such loan or advance Revolving Credit Loan is of funds requested by the Borrower).
(ii) The charging of the amount of such loan Revolving Credit Loan to the Loan Account (in all other circumstances).
(c) Except where there has been gross negligence or willful misconduct on the part of the Agent or any Revolving Credit Lender, there There shall not be any recourse to or liability of the Agent or any Revolving Credit Lender, on account ofof any of the following which is beyond the reasonable control of the Agent:
(i) Any delay in the making of any loan or advance requested under the Revolving Credit.
(ii) Any delay by any bank or other depository institution in treating the proceeds of any such loan or advance as collected funds.
(iii) Any delay in the receipt, and/or any loss, of funds which constitute a loan or advance Revolving Credit Loan under the Revolving Credit, the wire transfer of which was properly initiated by the Agent in accordance with wire instructions provided to the Agent by the Borrower.
Appears in 1 contract
Samples: Loan and Security Agreement (Hastings Entertainment Inc)
Making of Revolving Credit Loans. (a) A loan or advance under the Revolving Credit shall be made by the transfer of the proceeds of such loan or advance to the Operating Account or as otherwise instructed by the BorrowerBorrowers' Representative.
(b) A loan or advance shall be deemed to have been made under the Revolving Credit (and the Borrower Borrowers shall be indebted to the Administrative Agent and the Revolving Credit Lenders for the amount thereof immediately) at the following:
(i) The Administrative Agent’s 's initiation of the transfer of the proceeds of such loan or advance in accordance with the Borrower’s Borrowers' Representative's instructions (if such loan or advance is of funds requested by the BorrowerBorrowers' Representative).
(ii) The charging of the amount of such loan to the Loan Account (in all other circumstances).
(c) Except where there has been gross negligence or willful misconduct on the part of the Agent or any Revolving Credit Lender, there There shall not be any recourse to or liability of the any Agent or any Revolving Credit Lender, Lender on account of:
(i) Any delay delay, beyond the reasonable control of the Agents and the Revolving Credit Lenders, in the making of any loan or advance requested under the Revolving Credit.
(ii) Any delay delay, beyond the reasonable control of the Agents and the Revolving Credit Lenders, by any bank or other depository institution in treating the proceeds of any such loan or advance as collected funds.
(iii) Any delay in the receipt, and/or any loss, of funds which constitute a loan or advance under the Revolving Credit, the wire transfer of which was properly initiated by the Administrative Agent in accordance with wire instructions provided to the Administrative Agent by the BorrowerBorrowers' Representative.
Appears in 1 contract
Making of Revolving Credit Loans. (a) A loan or advance under the Revolving Credit shall be made by the transfer of the proceeds of such loan or advance to an account of the Operating Account Lead Borrower maintained by the Lender or as otherwise instructed by the Lead Borrower.
(b) A loan or advance shall be deemed to have been made under the Revolving Credit (and the Borrower Borrowers shall be indebted to the Agent and the Revolving Credit Lenders Lender for the amount thereof immediately) at the following:
(i) The Agent’s initiation of the Lender's transfer of the proceeds of such loan or advance in accordance with the Lead Borrower’s 's instructions (if such loan or advance is of funds requested by the Lead Borrower).
(ii) The charging of the amount of such loan to the Loan Account (in all other circumstances).
(c) Except where there has been gross negligence or willful misconduct on the part of the Agent or any Revolving Credit Lender, there There shall not be any recourse to or liability of the Agent Lender or any Revolving Credit Lender, on account of:
(i) Any delay in the making of any loan or advance requested under the Revolving Credit.
(ii) Any delay by any bank or other depository institution in treating the proceeds of any such loan or advance as collected funds.
(iii) Any delay in the receipt, and/or any loss, of funds which constitute a loan or advance under the Revolving Credit, the wire transfer of which was properly initiated by the Agent Lender in accordance with wire instructions provided to the Agent Lender by the Lead Borrower.
Appears in 1 contract
Samples: Loan Agreement (Lojack Corp)
Making of Revolving Credit Loans. (a) A loan or advance under the Revolving Credit shall be made by the transfer of the proceeds of such loan or advance to the Operating Account or as otherwise instructed by the BorrowerBorrowers’ Representative.
(b) A loan or advance shall be deemed to have been made under the Revolving Credit (and the Borrower Borrowers shall be indebted to the Administrative Agent and the Revolving Credit Lenders for the amount thereof immediately) at the following:
(i) The Administrative Agent’s initiation of the transfer of the proceeds of such loan or advance in accordance with the BorrowerBorrowers’ Representative’s instructions (if such loan or advance is of funds requested by the BorrowerBorrowers’ Representative).
(ii) The charging of the amount of such loan to the Loan Account (in all other circumstances).
(c) Except where there has been gross negligence or willful misconduct on the part of the Agent or any Revolving Credit Lender, there There shall not be any recourse to or liability of the any Agent or any Revolving Credit Lender, Lender on account of:
(i) Any delay delay, beyond the reasonable control of the Agents and the Revolving Credit Lenders, in the making of any loan or advance requested under the Revolving Credit.
(ii) Any delay delay, beyond the reasonable control of the Agents and the Revolving Credit Lenders, by any bank or other depository institution in treating the proceeds of any such loan or advance as collected funds.
(iii) Any delay in the receipt, and/or any loss, of funds which constitute a loan or advance under the Revolving Credit, the wire transfer of which was properly initiated by the Administrative Agent in accordance with wire instructions provided to the Administrative Agent by the BorrowerBorrowers’ Representative.
Appears in 1 contract
Samples: Loan and Security Agreement (Casual Male Retail Group Inc)
Making of Revolving Credit Loans. (a) A loan or advance under the Revolving Credit Loan shall be made by the transfer of the proceeds of such loan or advance Revolving Credit Loan to the Operating Account or as otherwise instructed by the Lead Borrower.
(b) A loan or advance Revolving Credit Loan shall be deemed to have been made under the Revolving Credit (and the Borrower Borrowers shall be indebted to the Administrative Agent and the Revolving Credit Lenders for the amount thereof immediately) at the following:
(i) The Administrative Agent’s 's initiation of the transfer of the proceeds of such loan or advance Revolving Credit Loan in accordance with the Lead Borrower’s 's instructions (if such loan or advance Revolving Credit Loan is of funds requested by the Lead Borrower).
(ii) The charging of the amount of such loan Revolving Credit Loan to the Loan Account (in all other circumstances).
(c) Except where there has been gross negligence or willful misconduct on the part of the Agent or any Revolving Credit Lender, there There shall not be any recourse to or liability of the Administrative Agent or any Revolving Credit Lender, on account of:
(i) Any delay in the making of any loan or advance Revolving Credit Loan requested under the Revolving Credit.
(ii) Any delay by any bank or other depository institution in treating the proceeds of any such loan or advance Revolving Credit Loan as collected funds.
(iii) Any delay in the receipt, and/or any loss, of funds which constitute a loan or advance Revolving Credit Loan under the Revolving Credit, the wire transfer of which was properly initiated by the Administrative Agent in accordance with wire instructions provided to the Administrative Agent by the Lead Borrower.
Appears in 1 contract
