Common use of Method of Making Requests Clause in Contracts

Method of Making Requests. As an accommodation to Borrower, unless a Default or an Event of Default is then in existence, (i) Agent shall permit telephonic or electronic requests for Revolving Credit Loans to Agent, (ii) Agent and Bank may, in their discretion, permit electronic transmittal of requests for Letters of Credit and LC Guaranties to them, and (iii) Agent may, in Agent's discretion, permit electronic transmittal of instructions, authorizations, agreements or reports to Agent. Unless Borrower specifically directs Agent or Bank in writing not to accept or act upon telephonic or electronic communications from Borrower, neither Agent nor Bank shall have any liability to Borrower for any loss or damage suffered by Borrower as a result of Agent's or Bank's honoring of any requests, execution of any instructions, authorizations or agreements or reliance on any reports communicated to it telephonically or electronically and purporting to have been sent to Agent or Bank by Borrower, and neither Agent nor Bank shall have any duty to verify the origin of any such communication or the authority of the Person sending it. Each telephonic request for a Revolving Credit Loan, Letter of Credit or LC Guaranty accepted by Agent and Bank, if applicable, hereunder shall be promptly followed by a written confirmation of such request from Borrower to Lender and Bank, if applicable.

Appears in 3 contracts

Samples: Loan and Security Agreement (Weirton Steel Corp), Loan and Security Agreement (Weirton Steel Corp), Loan and Security Agreement (Weirton Steel Corp)

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Method of Making Requests. As an accommodation to Borrower, ------------------------- unless a Default or an Event of Default is then in existence, (i) Agent shall permit telephonic or electronic requests for Revolving Credit Loans to Agent, (ii) Agent and Bank may, in their discretion, permit electronic transmittal of requests for Letters of Credit and LC Guaranties to them, and (iii) Agent may, in Agent's discretion, permit electronic transmittal of instructions, authorizations, agreements or reports to Agent. Unless Borrower specifically directs Agent or Bank in writing not to accept or act upon telephonic or electronic communications from Borrower, neither Agent nor Bank shall have any liability to Borrower for any loss or damage suffered by Borrower as a result of Agent's or Bank's honoring of any requests, execution of any instructions, authorizations or agreements or reliance on any reports communicated to it telephonically or electronically and purporting to have been sent to Agent or Bank by an authorized officer of Borrower, and neither Agent nor Bank shall have any duty to verify the origin of any such communication or the authority of the Person person sending it. Each telephonic request for a Revolving Credit Loan, Letter of Credit or LC Guaranty accepted by Agent and Bank, if applicable, hereunder shall be promptly followed by a written confirmation of such request from Borrower to Lender and Bank, if applicable.

Appears in 2 contracts

Samples: Loan and Security Agreement (Woods Equipment Co), Loan and Security Agreement (Borden Chemicals & Plastics Limited Partnership /De/)

Method of Making Requests. As an accommodation to BorrowerCo-Borrowers, unless a Default or an Event of Default is then in existence, (i) Agent shall permit telephonic or electronic requests for Revolving Credit Loans to Agent, (ii) Agent and Bank may, in their discretion, permit electronic transmittal of requests for Letters of Credit and or LC Guaranties to them, and (iii) Agent may, in Agent's ’s discretion, permit electronic transmittal of instructions, authorizations, agreements or reports to Agent. Unless Borrower specifically directs Agent or Bank in writing not to accept or act upon telephonic or electronic communications from any Co-Borrower, neither Agent nor Bank shall have any liability to Borrower Co-Borrowers for any loss or damage suffered by Borrower Co-Borrowers as a result of Agent's ’s or Bank's ’s honoring of any requests, execution of any instructions, authorizations or agreements or reliance on any reports communicated to it telephonically or electronically and purporting to have been sent to Agent or Bank by a Co-Borrower, and neither Agent nor Bank shall have any duty to verify the origin of any such communication or the authority of the Person sending it. Each telephonic request for a Revolving Credit Loan, Letter of Credit or LC Guaranty accepted by Agent and Bank, if applicable, hereunder shall be promptly followed by a written confirmation of such request from Borrower to Lender Agent and Bank, if applicable.

Appears in 2 contracts

Samples: Loan and Security Agreement (Pw Eagle Inc), Loan and Security Agreement (Pw Eagle Inc)

Method of Making Requests. As an accommodation to BorrowerBorrowers, unless a Default or an Event of Default is then in existence, (i) Agent shall permit telephonic or electronic requests for Revolving Credit Loans to Agent, (ii) Agent and Bank may, in their discretion, permit electronic transmittal of requests for Letters of Credit and LC Guaranties to them, and (iii) Agent may, in Agent's discretion, permit electronic transmittal of instructions, authorizations, agreements or reports to Agent. Unless a Borrower specifically directs Agent or Bank in writing not to accept or act upon telephonic or electronic communications from such Borrower, neither Agent nor Bank shall have any liability to any Borrower for any loss or damage suffered by any Borrower as a result of Agent's or Bank's honoring of any requests, execution of any instructions, authorizations or agreements or reliance on any reports communicated to it telephonically or electronically and purporting to have been sent to Agent or Bank by Borrowerany Borrower (other than in connection with Agent's or Bank's willful misconduct), and neither Agent nor Bank shall have any duty to verify the origin of any such communication or the authority of the Person sending it. Each telephonic request for a Revolving Credit Loan, Letter of Credit or LC Guaranty accepted by Agent and Bank, if applicable, hereunder shall be promptly followed by a written confirmation of such request from the applicable Borrower to Lender and Bank, if applicable.

Appears in 2 contracts

Samples: Loan and Security Agreement (Kinetek Inc), Loan and Security Agreement (Kinetek Inc)

Method of Making Requests. As an accommodation to Borrower------------------------- Borrowers, unless a Default or an Event of Default is then in existence, (i) Agent shall permit telephonic or electronic requests for Revolving Credit Loans to Agent, (ii) Agent and Bank may, in their discretion, permit electronic transmittal of requests for Letters of Credit and LC Guaranties to them, and (iii) Agent may, in Agent's discretion, permit electronic transmittal of instructions, authorizations, agreements or reports to Agent. Unless a Borrower specifically directs Agent or Bank in writing not to accept or act upon telephonic or electronic communications from such Borrower, neither Agent nor Bank shall have any liability to any Borrower for any loss or damage suffered by any Borrower as a result of Agent's or Bank's honoring honoring, in good faith, of any requests, execution of any instructions, authorizations or agreements or reliance on any reports communicated to it telephonically or electronically and purporting to have been sent to Agent or Bank by any Borrower, and neither Agent nor Bank shall have any duty to verify the origin of any such communication or the authority of the Person sending it. Each telephonic request for a Revolving Credit Loan, Letter of Credit or LC Guaranty accepted by Agent and Bank, if applicable, Bank hereunder shall be promptly followed by a written confirmation of such request from the applicable Borrower to Lender Agent and Bank, if applicable.

Appears in 2 contracts

Samples: Loan and Security Agreement (Falcon Products Inc /De/), Loan and Security Agreement (Falcon Products Inc /De/)

Method of Making Requests. As an accommodation to Borrower, unless a Default or an Event of Default is then in existence, (i) Agent shall permit telephonic or electronic requests for Revolving Credit Loans to Agent, and (ii) Agent and Bank may, in their discretion, permit electronic transmittal of requests for Letters of Credit and LC Guaranties to them, ; and (iii) Agent may, in Agent's discretion, permit electronic transmittal of instructions, authorizations, agreements or reports to Agent. Unless Borrower specifically directs Agent or Bank in writing not to accept or act upon telephonic or electronic communications from Borrower, neither Agent nor Bank shall have any no liability to Borrower for any loss or damage suffered by Borrower as a result of Agent's or Bank's honoring of any requests, execution of any instructions, authorizations or agreements or reliance on any reports communicated to it telephonically or electronically and purporting to have been sent to Agent or Bank by Borrower, Borrower and neither Agent nor Bank shall have any no duty to verify the origin of any such communication or the authority of the Person person sending it. Each telephonic request for a Revolving Credit Loan, Letter of Credit or LC Guaranty Loan accepted by Agent and Bank, if applicable, hereunder shall be promptly followed by a written confirmation of such request from Borrower to Lender and Bank, if applicableAgent.

Appears in 1 contract

Samples: Loan and Security Agreement (Color Spot Nurseries Inc)

Method of Making Requests. As an accommodation to Borrower, ------------------------- unless a Default or an Event of Default is then in existence, (i) Agent shall Lender may permit telephonic or electronic requests for Revolving Credit Loans to AgentLender, (ii) Agent Lender and Bank may, in their discretion, permit electronic transmittal of requests for Letters of Credit and LC Guaranties to them, and (iii) Agent Lender may, in AgentLender's discretion, permit electronic transmittal of instructions, authorizations, agreements or reports to AgentLender. Unless Borrower specifically directs Agent Lender or Bank in writing not to accept or act upon telephonic or electronic communications from Borrower, neither Agent Lender nor Bank shall have any liability to Borrower for any loss or damage suffered by Borrower as a result of AgentLender's or Bank's honoring of any requests, execution of any instructions, authorizations or agreements or reliance on any reports communicated to it telephonically or electronically and purporting to have been sent to Agent Lender or Bank by Borrower, Borrower and neither Agent Lender nor Bank shall have any duty to verify the origin of any such communication or the authority of the Person person sending it. Each telephonic request for a Revolving Credit Loan, Letter of Credit Credit, or LC Guaranty accepted by Agent Lender and Bank, if applicable, hereunder shall be promptly followed by a written confirmation of such request from Borrower to Lender and Bank, if applicable.

Appears in 1 contract

Samples: Loan and Security Agreement (Moore Medical Corp)

Method of Making Requests. As an accommodation to BorrowerCo-Borrowers, unless a Default or an Event of Default is then in existence, (i) Agent shall permit telephonic or electronic requests for Revolving Credit Loans to Agent, (ii) Agent and Bank may, in their discretion, permit electronic transmittal of requests for Letters of Credit and or LC Guaranties to them, and (iii) Agent may, in Agent's ’s discretion, permit electronic transmittal of instructions, authorizations, agreements or reports to Agent. Unless Borrower specifically directs Agent or Bank in writing not to accept or act upon telephonic or electronic communications from any Co- Borrower, neither Agent nor Bank shall have any liability to Borrower Co-Borrowers for any loss or damage suffered by Borrower Co-Borrowers as a result of Agent's ’s or Bank's ’s honoring of any requests, execution of any instructions, authorizations or agreements or reliance on any reports communicated to it telephonically or electronically and purporting to have been sent to Agent or Bank by a Co-Borrower, and neither Agent nor Bank shall have any duty to verify the origin of any such communication or the authority of the Person sending it. Each telephonic request for a Revolving Credit Loan, Letter of Credit or LC Guaranty accepted by Agent and Bank, if applicable, hereunder shall be promptly followed by a written confirmation of such request from Borrower to Lender Agent and Bank, if applicable.

Appears in 1 contract

Samples: Loan and Security Agreement (Pw Eagle Inc)

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Method of Making Requests. As an accommodation to BorrowerBorrowers, unless a Default or an Event of Default is then in existence, (i) Agent shall permit telephonic or electronic requests for Revolving Credit Loans to AgentAgents, (ii) Agent and Bank may, in their discretion, permit electronic transmittal of requests for Letters of Credit and LC Guaranties to them, and (iii) Agent may, in Agent's ’s discretion, permit electronic transmittal of instructions, authorizations, agreements or reports to Agent. Unless Borrower MFRI, on its own behalf and on behalf of all other Borrowers, specifically directs Agent or Bank in writing not to accept or act upon telephonic or electronic communications from any Borrower, neither Agent nor Bank shall have any liability to Borrower Borrowers for any loss or damage suffered by any Borrower as a result of Agent's ’s or Bank's ’s honoring of any requests, execution of any instructions, authorizations or agreements or reliance on any reports communicated to it telephonically or electronically and purporting to CHICAGO/#1571873.4 have been sent to Agent or Bank by any Borrower, and neither Agent nor Bank shall have any duty to verify the origin of any such communication or the authority of the Person sending it. Each telephonic request for a Revolving Credit Loan, Letter of Credit or LC Guaranty accepted by Agent and Bank, if applicable, hereunder shall be promptly followed by a written confirmation of such request from Borrower MFRI, on its own behalf and on behalf of all other Borrowers, to Lender Agent and Bank, if applicable.

Appears in 1 contract

Samples: Loan and Security Agreement (Mfri Inc)

Method of Making Requests. As an accommodation to BorrowerBorrowers, unless a Default or an Event of Default is then in existence, (i) Agent shall permit telephonic or electronic requests for Revolving Credit Loans or Equipment Loans to Agent; provided that in the case of requested for Equipment Loans, Borrowers have previously delivered to Agent the written materials required pursuant to subsection 1.3.2, (ii) Agent and Bank may, in their discretion, permit electronic transmittal of requests for Letters of Credit and LC Guaranties to them, and (iii) Agent may, in Agent's discretion, permit electronic transmittal of instructions, authorizations, agreements or reports to Agent. Unless Borrower Borrowers specifically directs direct Agent or Bank in writing not to accept or act upon telephonic or electronic communications from any Borrower, neither Agent nor Bank shall have any liability to Borrower Borrowers for any loss or damage suffered by any Borrower as a result of Agent's or Bank's honoring of any requests, execution of any instructions, authorizations or agreements or reliance on any reports communicated to it telephonically or electronically and purporting to have been sent to Agent or Bank by a Borrower, and neither Agent nor Bank shall have any duty to verify the origin of any such communication or the authority of the Person sending it. Each telephonic request for a Revolving Credit Loan, Equipment Loan, Letter of Credit or LC Guaranty accepted by Agent and Bank, if applicable, hereunder shall be promptly followed by a written confirmation of such request from Borrower ETI, on behalf of each Borrower, to Lender Agent and Bank, if applicable.

Appears in 1 contract

Samples: Loan and Security Agreement (Pw Eagle Inc)

Method of Making Requests. As an accommodation to BorrowerBorrowing Agent and Borrowers, unless a Default or an Event of Default is then in existence, (i) Agent shall permit telephonic or electronic requests for Revolving Credit Loans to Agent, (ii) Agent and Bank may, in their discretion, permit electronic transmittal of requests for Letters of Credit and LC Guaranties to them, such Persons and (iii) Agent may, in Agent's discretion, permit electronic transmittal of instructions, authorizations, agreements or reports to Agent. Unless Borrowing Agent or any Borrower specifically directs Agent or Bank in writing not to accept or act upon telephonic or electronic communications from Borrowing Agent and/or such Borrower, neither Agent nor Bank shall have any no liability to Borrower such or any other Person for any loss or damage suffered by Borrower such Person as a result of Agent's or Bank's honoring of any requests, execution of any instructions, authorizations or agreements or reliance on any reports communicated to it telephonically or electronically and purporting to have been sent to Agent or Bank by Borrower, such Person and neither Agent nor Bank shall have any no duty to verify the origin of any such communication or the authority of the Person person sending it. Each telephonic request for a Revolving Credit Loan, Letter of Credit or LC Guaranty accepted by Agent and Bank, if applicable, hereunder shall be promptly followed by a written confirmation of such request from Borrower the Borrowing Agent to Lender and Bank, if applicableAgent.

Appears in 1 contract

Samples: Loan and Security Agreement (Integra Lifesciences Corp)

Method of Making Requests. As an accommodation to Borrower, unless a Default or an Event of Default is then in existence, (i) Agent shall permit telephonic or electronic requests for Revolving Credit Loans to Agent, (ii) Agent and Bank may, in their discretion, permit electronic transmittal of requests for Letters of Credit and LC Guaranties to them, and (iii) Agent may, in Agent's discretion, permit electronic transmittal of instructions, authorizations, agreements or reports to Agent. Unless Borrower specifically directs Agent or Bank in writing not to accept or act upon telephonic or electronic communications from Borrower, neither Agent nor Bank shall have any liability to Borrower for any loss or damage suffered by Borrower as a result of Agent's or Bank's honoring of any requests, execution of any instructions, authorizations or agreements or reliance on any reports communicated to it telephonically or electronically and purporting to have been sent to Agent or Bank by Borrower, and neither Agent nor Bank shall have any duty to verify the origin of any such communication or the authority of the Person sending it. Each telephonic request for a Revolving Credit Loan, Letter of Credit or LC Guaranty accepted by Agent and Bank, if applicable, hereunder shall be promptly followed by a written confirmation of such request from Borrower to Lender Agent and Bank, if applicable.

Appears in 1 contract

Samples: Loan and Security Agreement (Weirton Steel Corp)

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