Common use of Noncompliance with Borrowing Base Clause in Contracts

Noncompliance with Borrowing Base. This paragraph is applicable if the promissory note or other loan document for your loan Account provides that the loan Account is tied to a borrowing base of eligible receivables. At any time that you are not in compliance with the borrowing-base requirement, we may reverse any transfer that constitutes an advance on the loan Account.

Noncompliance with Borrowing Base. This paragraph is applicable if the promissory note or other loan document for your loan Company's Loan Account provides that the loan Loan Account is tied to a borrowing base of eligible receivables. At any time that you are Company is not in compliance with the borrowing-borrowing- base requirement, we the Bank may reverse any transfer sweep transaction that constitutes an advance on the loan Loan Account.

Noncompliance with Borrowing Base. This paragraph is applicable if the promissory note or other loan document for your loan Customer's Loan Account provides that the loan Loan Account is tied to a borrowing base of eligible receivables. At any time that you are Customer is not in compliance with the borrowing-base requirement, we Banc may reverse any transfer sweep transaction that constitutes an advance on the loan Loan Account.