Common use of Overadvances Clause in Contracts

Overadvances. If at any time or for any reason the total of all outstanding Loans and all other Obligations exceeds the Credit Limit (an "Overadvance"), Borrower shall immediately pay the amount of the excess to Silicon, without notice or demand. Without limiting Borrower's obligation to repay to Silicon on demand the amount of any Overadvance, Borrower agrees to pay Silicon interest on the outstanding amount of any Overadvance, on demand, at a rate equal to the interest rate which would otherwise be applicable to the Overadvance, plus an additional 2% per annum.

Appears in 46 contracts

Samples: Loan Agreement (Sigma Designs Inc), Loan and Security Agreement (Cobalt Group Inc), Loan and Security Agreement (Invision Technologies Inc)

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Overadvances. If at any time or for any reason the total of all outstanding Loans and all other monetary Obligations exceeds the Credit Limit (an "Overadvance"), Borrower shall immediately pay the amount of the excess to Silicon, without notice or demand. Without limiting Borrower's ’s obligation to repay to Silicon on demand the amount of any Overadvance, Borrower agrees to pay Silicon interest on the outstanding amount of any Overadvance, on demand, at a rate equal to the interest rate which would otherwise be applicable to the Overadvance, plus an additional 2% per annumDefault Rate.

Appears in 18 contracts

Samples: Loan and Security Agreement (PortalPlayer, Inc.), Loan and Security Agreement (Micro Therapeutics Inc), Loan and Security Agreement (Maxwell Technologies Inc)

Overadvances. If at any time or for any reason the total of all outstanding Loans and all other monetary Obligations exceeds the Credit Limit (an "Overadvance"), Borrower shall immediately pay the amount of the excess to Silicon, without notice or demand. Without limiting Borrower's obligation to repay to Silicon on demand the amount of any Overadvance, Borrower agrees to pay Silicon interest on the outstanding amount of any Overadvance, on demand, at a rate equal to the interest rate which would otherwise be applicable to the Overadvance, plus an additional 2% per annumDefault Rate.

Appears in 15 contracts

Samples: Loan and Security Agreement (Alibris Inc), Loan and Security Agreement (Axs One Inc), Loan and Security Agreement (Click2learn Inc/De/)

Overadvances. If at any time or for any reason the total of all outstanding Loans and all other Obligations exceeds the Credit Limit (an "Overadvance"), Borrower shall immediately pay the amount of the excess to Silicon, without notice or demand. Without limiting Borrower's obligation to repay to Silicon on demand the amount of any Overadvance, Borrower agrees to pay Silicon interest on the outstanding amount of any Overadvance, on demand, at a rate equal to the interest rate which would otherwise be applicable to the Overadvance, plus an additional two percent (2% %) per annum.

Appears in 11 contracts

Samples: Loan and Security Agreement (Interliant Inc), Loan and Security Agreement (Scansoft Inc), Loan and Security Agreement (Collagenex Pharmaceuticals Inc)

Overadvances. If at any time or for any reason the total of all outstanding Loans and all other monetary Obligations exceeds the Credit Limit (an "Overadvance"), . Borrower shall immediately pay the amount of the excess to Silicon, without notice or demand. Without limiting Borrower's ’s obligation to repay to Silicon on demand the amount of any Overadvance, Borrower agrees to pay Silicon interest on the outstanding amount of any Overadvance, on demand, at a rate equal to the interest rate which would otherwise be applicable to the Overadvance, plus an additional 2% per annumDefault Rate.

Appears in 3 contracts

Samples: Loan and Security Agreement (Rackable Systems, Inc.), Loan and Security Agreement (Rackable Systems, Inc.), Loan and Security Agreement (Rackable Systems, Inc.)

Overadvances. If at any time or for any reason the total of all outstanding Loans and all other * Obligations exceeds the Credit Limit (an "Overadvance"), Borrower shall immediately pay the amount of the excess to Silicon, without notice or demand. Without limiting Borrower's obligation to repay to Silicon on demand the amount of any Overadvance, Borrower agrees to pay Silicon interest on the outstanding amount of any Overadvance, on demand, at a rate equal to the interest rate which would otherwise be applicable to the Overadvance, plus an additional 2% per annum.

Appears in 2 contracts

Samples: Loan and Security Agreement (Global Village Communication Inc), Loan and Security Agreement (Lightspan Partnership Inc)

Overadvances. If at any time or for any reason the total of all outstanding Loans and all other monetary Obligations under or in connection with this Agreement exceeds the Credit Limit (an "Overadvance"), Borrower shall immediately pay the amount of the excess to Silicon, without within one Business Day following notice or demandthereof from Silicon to Borrower. Without limiting Borrower's obligation to repay to Silicon on demand the amount of any Overadvance, Borrower agrees to pay Silicon interest on the outstanding amount of any Overadvance, on demand, at a rate equal to the interest rate which would otherwise be applicable to the Overadvance, plus an additional 2% per annumDefault Rate.

Appears in 2 contracts

Samples: Loan and Security Agreement (Zhone Technologies Inc), Loan and Security Agreement (Zhone Technologies Inc)

Overadvances. If at any time or for any reason the total of all outstanding Loans and all other monetary Obligations exceeds the Credit Limit (an "Overadvance"), Borrower shall immediately pay the amount of the excess to Silicon, without notice or demand, provided that under ordinary circumstances, but without any obligation to do so, Silicon will use its best efforts to contact the Borrower regarding the payment of any such Overadvance. Without limiting Borrower's ’s obligation to repay to Silicon on demand the amount of any Overadvance, Borrower agrees to pay Silicon interest on the outstanding amount of any Overadvance, on demand, at a rate equal to the interest rate which would otherwise be applicable to the Overadvance, plus an additional 2% per annumDefault Rate.

Appears in 2 contracts

Samples: Loan and Security Agreement (Endocardial Solutions Inc), Loan and Security Agreement (Endocardial Solutions Inc)

Overadvances. If at any time or for any reason the total of all outstanding Loans and all other monetary Obligations exceeds the Maximum Credit Limit (an "Overadvance"), Borrower shall immediately pay the amount of the excess to Silicon, without notice or demand. Without limiting Borrower's ’s obligation to repay to Silicon on demand the amount of any Overadvance, Borrower agrees to pay Silicon interest on the outstanding amount of any Overadvance, on demand, at a rate equal to the interest rate which would otherwise be applicable to the Overadvance, plus an additional 2% per annumDefault Rate.

Appears in 2 contracts

Samples: Loan and Security Agreement (Xplore Technologies Corp), Loan and Security Agreement (Xplore Technologies Corp)

Overadvances. If at any time or for any reason the total of all outstanding Loans and all other monetary Obligations exceeds the Credit Limit (an "Overadvance"), Borrower shall immediately pay the amount of the excess to Silicon, without notice or demand. Without limiting Borrower's obligation to repay to Silicon on demand the amount of any Overadvance, Borrower agrees to pay Silicon interest on the outstanding amount of any Overadvance, on demand, at a rate equal to the interest rate which would otherwise be applicable to the Overadvance, plus an additional 2% per annum.

Appears in 2 contracts

Samples: Loan and Security Agreement (Cogent Communications Group Inc), Loan and Security Agreement (Cogent Communications Group Inc)

Overadvances. If at any time or for any reason the total of all outstanding Loans and all other Obligations exceeds the Credit Limit (an "Overadvance"), Borrower shall immediately pay the amount of the excess to Silicon, without notice or demand. Without limiting Borrower's ’s obligation to repay to Silicon on demand the amount of any Overadvance, Borrower agrees to pay Silicon interest on the outstanding amount of any Overadvance, on demand, at a rate equal to the interest rate which would otherwise be applicable to the Overadvance, plus an additional 2% per annum.. Silicon Valley Bank Loan and Security Agreement

Appears in 2 contracts

Samples: Loan and Security Agreement (Digirad Corp), Loan and Security Agreement (Digirad Corp)

Overadvances. If at any time or for any reason the total of all outstanding Revolving Loans and all other Obligations exceeds the Credit Limit (an "Overadvance"), Borrower shall immediately pay the amount of the excess to Silicon, without notice or demand. Without limiting Borrower's obligation to repay to Silicon on demand the amount of any Overadvance, Borrower agrees to pay Silicon interest on the outstanding amount of any Overadvance, on demand, at a rate equal to the interest rate which would otherwise be applicable to the Overadvance, plus an additional 2% per annumDefault Rate.

Appears in 2 contracts

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

Overadvances. If at any time or for any reason the total of all outstanding Loans and all other monetary Obligations (other than the Term Loan) exceeds the Credit Limit (an "Overadvance"), Borrower shall immediately pay the amount of the excess to Silicon, without notice or demand. Without limiting Borrower's ’s obligation to repay to Silicon on demand the amount of any Overadvance, Borrower agrees to pay Silicon interest on the outstanding amount of any Overadvance, on demand, at a rate equal to the interest rate which would otherwise be applicable to the Overadvance, plus an additional 2% per annumDefault Rate.

Appears in 1 contract

Samples: Loan and Security Agreement (Artisoft Inc)

Overadvances. If at any time or for any reason the total of all outstanding Loans and all other Obligations exceeds the Credit Limit (an "Overadvance"), Borrower shall immediately pay the amount of the excess to Silicon, without notice or demand. Without limiting Borrower's ’s obligation to repay to Silicon on demand the amount of any Overadvance, Borrower agrees to pay Silicon interest on the outstanding amount of any Overadvance, on demand, at a rate equal to the interest rate which would otherwise be applicable to the Overadvance, plus an additional 2% per annum.

Appears in 1 contract

Samples: Loan and Security Agreement (Network Computing Devices Inc)

Overadvances. If at any time or for any reason the total of all outstanding Loans and all other Obligations monetary Obligations, including, without limitation, Exim Loans, Cash Management Services and the face amount of all outstanding Letters of Credit, exceeds the Credit Limit (an "Overadvance"), Borrower shall immediately pay the amount of the excess to Silicon, without notice or demand. Without limiting Borrower's ’s obligation to repay to Silicon on demand the amount of any Overadvance, Borrower agrees to pay Silicon interest on the outstanding amount of any Overadvance, on demand, at a rate equal to the interest rate which would otherwise be applicable to the Overadvance, plus an additional 2% per annumDefault Rate.

Appears in 1 contract

Samples: Loan and Security Agreement (Telecommunication Systems Inc /Fa/)

Overadvances. If at any time or for any reason the total of all outstanding Loans and all other monetary Obligations exceeds the Credit Limit (an "Overadvance"), Borrower Borrowers shall immediately pay the amount of the excess to Silicon, without notice or demand. Without limiting Borrower's obligation Borrowers’ obligations to repay to Silicon on demand the amount of any Overadvance, Borrower agrees Borrowers agree to pay Silicon interest on the outstanding amount of any Overadvance, on demand, at a rate equal to the interest rate which would otherwise be applicable to the Overadvance, plus an additional 2% per annumDefault Rate.

Appears in 1 contract

Samples: Loan and Security Agreement (Xenogen Corp)

Overadvances. If at any time or for any reason the total of all outstanding Loans and all other monetary Obligations hereunder exceeds the Credit Limit (an "Overadvance"), Borrower shall immediately pay the amount of the excess to Silicon, without notice or demand. Without limiting Borrower's obligation to repay to Silicon on demand the amount of any Overadvance, Borrower agrees to pay Silicon interest on the outstanding amount of any Overadvance, on demand, at a rate equal to the interest rate which would otherwise be applicable to the Overadvance, plus an additional 2% per annumDefault Rate.

Appears in 1 contract

Samples: Loan and Security Agreement (Inktomi Corp)

Overadvances. If at any time or for any reason the total of all outstanding Revolving Loans and all other monetary Obligations exceeds the Revolving Credit Limit (an "Overadvance"), Borrower shall immediately pay the amount of the excess to Silicon, without notice or demand. Without limiting Borrower's obligation to repay to Silicon on demand the amount of any Overadvance, Borrower agrees to pay Silicon interest on the outstanding amount of any Overadvance, on demand, at a rate equal to the interest rate which would otherwise be applicable to the Overadvance, plus an additional 2% per annumDefault Rate.

Appears in 1 contract

Samples: Loan and Security Agreement (Pharmchem Inc)

Overadvances. If at any time or for any reason the total of all outstanding Loans and all other Obligations exceeds ex-ceeds the Credit Limit (an "Overadvance"), Borrower shall immediately pay the amount of the excess to Silicon, without with-out notice or demand. Without limiting Borrower's obligation obliga-tion to repay to Silicon on demand the amount of any Overadvance, Borrower agrees to pay Silicon interest on the outstanding amount of any Overadvance, on demand, at a rate equal to the interest rate which would otherwise be applicable to the Overadvance, plus an additional 2% per annum.

Appears in 1 contract

Samples: Loan and Security Agreement (Entrada Networks Inc)

Overadvances. If at any time or for any reason the total of all outstanding Loans and all other monetary Obligations under or in connection with this Agreement exceeds the Credit Limit (an "Overadvance"), Borrower shall immediately pay the amount of the excess to Silicon, without within one Business Day following notice or demandthereof from Silicon to Borrower. Without limiting Borrower's ’s obligation to repay to Silicon on demand the amount of any Overadvance, Borrower agrees to pay Silicon interest on the outstanding amount of any Overadvance, on demand, at a rate equal to the interest rate which would otherwise be applicable to the Overadvance, plus an additional 2% per annumDefault Rate.

Appears in 1 contract

Samples: Loan and Security Agreement (Zhone Technologies Inc)

Overadvances. If at any time or for any reason the total of all outstanding Loans and all other Obligations monetary Obligations, including, without limitation, the amount of all Equipment Loans, Exim Loans and the face amount of all outstanding Letters of Credit, exceeds the Credit Limit (an "Overadvance"), Borrower shall immediately pay the amount of the excess to Silicon, without notice or demand. Without limiting Borrower's ’s obligation to repay to Silicon on demand the amount of any Overadvance, Borrower agrees to pay Silicon interest on the outstanding amount of any Overadvance, on demand, at a rate equal to the interest rate which would otherwise be applicable to the Overadvance, plus an additional 2% per annumDefault Rate.

Appears in 1 contract

Samples: Loan and Security Agreement (Telecommunication Systems Inc /Fa/)

Overadvances. If at any time or for any reason the total of all outstanding Loans and all other Obligations (other than pursuant to the Exim Agreement) exceeds the Credit Limit (an "Overadvance"), Borrower shall immediately pay the amount of the excess to Silicon, without notice or demand. Without limiting Borrower's obligation to repay to Silicon on demand the amount of any Overadvance, Borrower agrees to pay Silicon interest on the outstanding amount of any Overadvance, on demand, at a rate equal to the interest rate which would otherwise be applicable to the Overadvance, plus an additional two percent (2% %) per annum.

Appears in 1 contract

Samples: Loan and Security Agreement (Aspen Technology Inc /De/)

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Overadvances. If at any time or for any reason the total of all outstanding Loans and all other monetary Obligations (including extensions of credit under Section 1.6, Section 1.7, and Section 1.8) exceeds the Credit Limit (an "Overadvance"), Borrower shall immediately pay the amount of the excess to Silicon, without notice or demand. Without limiting Borrower's ’s obligation to repay to Silicon on demand the amount of any Overadvance, Borrower agrees to pay Silicon interest on the outstanding amount of any Overadvance, on demand, at a rate equal to the interest rate which would otherwise be applicable to the Overadvance, plus an additional 2% per annumDefault Rate.

Appears in 1 contract

Samples: Loan and Security Agreement (Tut Systems Inc)

Overadvances. If at any time or for any reason the total of all outstanding Loans and all other monetary Obligations exceeds the Credit Limit (an "Overadvance"), . Borrower shall immediately pay the amount of the excess to Silicon, without notice or demand. Without limiting Borrower's obligation to repay to Silicon on demand the amount of any Overadvance, Borrower agrees to pay Silicon interest on the outstanding amount of any Overadvance, on demand, at a rate equal to the interest rate which would otherwise be applicable to the Overadvance, plus an additional 2% per annumDefault Rate.

Appears in 1 contract

Samples: Loan and Security Agreement (Divx Inc)

Overadvances. If at any time or for any reason the total of all outstanding Loans and all other Obligations exceeds the Credit Limit (an "Overadvance"), Borrower shall immediately promptly pay the amount of the excess to Silicon, without notice or demand. Without limiting Borrower's obligation to repay to Silicon on demand the amount of any Overadvance, Borrower agrees to pay Silicon interest on the outstanding amount of any Overadvance, on demand, at a rate equal to the interest rate which would otherwise be applicable to the Overadvance, plus an additional two percent (2% %) per annum; provided, however, if Borrower promptly pays such Overadvance, Bank will waive the additional two percent (2%) per annum increase.

Appears in 1 contract

Samples: Loan and Security Agreement (Datawatch Corp)

Overadvances. If Except as set forth in Section 1.6 with respect to any Permitted Overadvance, if at any time or for any reason the total of all outstanding Loans and all other monetary Obligations exceeds the Credit Limit (an "Overadvance"), Borrower shall immediately pay the amount of the excess to Silicon, without notice or demand. Without limiting Borrower's obligation to repay to Silicon on demand the amount of any Overadvance, Borrower agrees to pay Silicon interest on the outstanding amount of any Overadvance, on demand, at a rate equal to the interest rate which would otherwise be applicable to the Overadvance, plus an additional 2% per annumDefault Rate.

Appears in 1 contract

Samples: Loan and Security Agreement (U S Realtel Inc)

Overadvances. If at any time or for any reason the total of all outstanding Loans and all other Obligations exceeds the Credit Limit (an "Overadvance"), Borrower shall immediately pay the amount of the excess to Silicon, without notice or demand. Without limiting Borrower's obligation obliga tion to repay to Silicon on demand the amount of any Overadvance, Borrower agrees to pay Silicon interest on the outstanding amount of any Overadvance, on demand, at a rate equal to the interest rate which would otherwise be applicable to the Overadvance, plus an additional 2% per annum.

Appears in 1 contract

Samples: Loan and Security Agreement (Netsmart Technologies Inc)

Overadvances. If at any time or for any reason the total of all outstanding Loans and all other monetary Obligations exceeds the Credit Limit (an "Overadvance"), Borrower shall * immediately pay the amount of the excess to Silicon, without notice or demand. Without limiting Borrower's ’s obligation to repay to Silicon on demand the amount of any Overadvance, Borrower agrees to pay Silicon interest on the outstanding amount of any Overadvance, on demand, at a rate equal the Default Rate. * promptly (and subject to the interest rate which would otherwise be applicable to the Overadvance, plus an additional 2% per annum.cure period (if applicable) set forth in Section 7.1(c) hereof)

Appears in 1 contract

Samples: Loan and Security Agreement (Giga Tronics Inc)

Overadvances. If at any time or for any reason the total of all outstanding Loans and all other Obligations exceeds the Credit Limit (an "Overadvance"), Borrower shall immediately pay the amount of the excess to Silicon, without notice or demand. Without limiting Borrower's obligation to repay to Silicon on demand the amount of any Overadvance, Borrower agrees to pay Silicon interest on the outstanding amount of any Overadvance, on demand, at a rate equal to the interest rate which would otherwise be applicable to the Overadvance, plus an additional 2% per annum.. *EXCEPT AS PROVIDED IN THE SCHEDULE,

Appears in 1 contract

Samples: Loan and Security Agreement (Laserscope)

Overadvances. If at any time or for any reason the total of all outstanding Loans and all other Obligations exceeds the Credit Limit (an "Overadvance"), Borrower shall immediately pay the amount of the excess to Silicon, without upon written notice or demand. Without limiting Borrower's obligation to repay to Silicon on demand the amount of any Overadvance, Borrower agrees to pay Silicon interest on the outstanding amount of any OveradvanceOveradvance (by way of clarification the amount in excess of the Credit Limit), on demand, at a rate equal to the interest rate which would otherwise be applicable to the Overadvance, plus an additional two percent (2% %) per annum.

Appears in 1 contract

Samples: Loan and Security Agreement (Infinium Software Inc)

Overadvances. If Except as set forth in Section 1.6 with respect to any Permitted Overadvance, if at any time or for any reason the total of all outstanding Revolving Loans and all other monetary Obligations exceeds the Credit Limit (an "Overadvance"), Borrower shall immediately pay the amount of the excess to Silicon, without notice or demand. Without limiting Borrower's obligation to repay to Silicon on demand the amount of any Overadvance, Borrower agrees to pay Silicon interest on the outstanding amount of any Overadvance, on demand, at a rate equal to the interest rate which would otherwise be applicable to the Overadvance, plus an additional 2% per annumDefault Rate.

Appears in 1 contract

Samples: Loan and Security Agreement (Cypress Communications Holding Co Inc)

Overadvances. If at any an time or for any reason the total of all outstanding Loans and all other monetary Obligations exceeds the Credit Limit (an "Overadvance"), Borrower shall immediately pay the amount of the excess to Silicon, Silicon without notice or demand. Without limiting Borrower's ’s obligation to repay to Silicon on demand the amount of any Overadvance, Borrower agrees to pay Silicon interest on the outstanding amount of any Overadvance, on demand, at a rate equal to the interest rate which would otherwise be applicable to the Overadvance, plus an additional 2% per annumDefault Rate.

Appears in 1 contract

Samples: Loan and Security Agreement (Relm Wireless Corp)

Overadvances. If IF at any time or for any reason the total of all outstanding Loans and all other Obligations exceeds the Credit Limit (an "Overadvance"), Borrower shall immediately pay the amount of the excess to Silicon, without notice or demand. Without limiting Borrower's obligation to repay to Silicon on demand the amount of any Overadvance, Borrower agrees to pay Silicon interest on the outstanding amount of any Overadvance, on demand, at a rate equal to the interest rate which would otherwise be applicable to the Overadvance, plus an additional 2% per annum.

Appears in 1 contract

Samples: Loan and Security Agreement (Adaytum Software Inc)

Overadvances. If at any time or for any reason the total of all outstanding Loans and all other Obligations exceeds the Credit Limit (an "Overadvance"), Borrower shall immediately pay the amount of the excess to Silicon, without notice or demand. Without limiting Borrower's Borrowers obligation to repay to Silicon on demand the amount of any Overadvance, Borrower agrees to pay Silicon interest on the outstanding amount of any Overadvance, on demand, at a rate rote equal to the interest rate which would otherwise be applicable to the Overadvance, plus an additional 2% per annum.

Appears in 1 contract

Samples: Loan and Security Agreement (Wireless Inc)

Overadvances. If at any time or for any reason the total of all outstanding Loans and all other Obligations exceeds ex­ceeds the Credit Limit (an "Overadvance"), Borrower shall immediately pay the amount of the excess to Silicon, without with­out notice or demand. Without limiting Borrower's obligation ’s obliga­tion to repay to Silicon on demand the amount of any Overadvance, Borrower agrees to pay Silicon interest on the outstanding amount of any Overadvance, on demand, at a rate equal to the interest rate which would otherwise be applicable to the Overadvance, plus an additional two percent (2% %) per annum.

Appears in 1 contract

Samples: Loan and Security Agreement (Satcon Technology Corp)

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