Common use of Payments as Revolving Loans Clause in Contracts

Payments as Revolving Loans. At the election of the Lender, all payments of principal, interest, reimbursement obligations in connection with Letters of Credit and Credit Support for Letters of Credit, fees, premiums, reimbursable expenses and other sums payable hereunder, may be paid from the proceeds of Revolving Loans made hereunder. The Borrower hereby irrevocably authorizes the Lender to charge the Loan Account for the purpose of paying all amounts from time to time due hereunder and agrees that all such amounts charged shall constitute Revolving Loans.

Appears in 2 contracts

Samples: Credit Agreement (New Athletics, Inc.), Credit Agreement (Meade Instruments Corp)

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Payments as Revolving Loans. At the election of the Lender, all payments of principal, interest, reimbursement obligations in connection with Letters of Credit and Credit Support for Letters of Credit, fees, premiums, reimbursable expenses and other sums payable hereunder, may be paid from the proceeds of Revolving Loans made hereunder. The Borrower Borrowers hereby irrevocably authorizes authorize the Lender to charge the Loan Account for the purpose of paying all amounts from time to time due hereunder and agrees that all such amounts charged shall constitute Revolving Loans.

Appears in 1 contract

Samples: Credit Agreement (Meade Instruments Corp)

Payments as Revolving Loans. At the election of the Lender, all payments of principal, interest, reimbursement obligations in connection with Letters of Credit and Credit Support for Letters of Credit, fees, premiums, reimbursable expenses and other sums payable hereunder, may be paid from the proceeds of Revolving Loans made hereunder. The Borrower Borrowers hereby irrevocably authorizes authorize the Lender to charge the Loan Account for the purpose of paying all amounts from time to time due hereunder and agrees agree that all such amounts charged shall constitute Revolving Loans.

Appears in 1 contract

Samples: Credit Agreement (Spacelabs Medical Inc)

Payments as Revolving Loans. At the election of the Lender, (a) all payments of principal, interest, reimbursement obligations in connection with Letters of Credit and Credit Support for Letters of Credit, Credit and fees, premiums, and (b) all payments of reimbursable expenses and other sums payable hereunder, may be paid from the proceeds of Revolving Loans made hereunder. The Borrower Borrowers hereby irrevocably authorizes authorize the Lender to charge the Loan Account for the purpose of paying all amounts from time to time due hereunder and agrees agree that all such amounts charged shall constitute Revolving Loans.

Appears in 1 contract

Samples: Credit Agreement (Remedytemp Inc)

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Payments as Revolving Loans. At the election of the Lender, all payments of principal, interest, reimbursement obligations in connection with Letters of Credit and Credit Support for Letters of Credit, fees, premiums, reimbursable expenses and other sums payable hereunderhereunder or under any other Loan Document, may be paid from the proceeds of Revolving Loans made hereunder. The Borrower Borrowers hereby irrevocably authorizes authorize the Lender to charge the Loan Account for the purpose of paying all amounts from time to time due hereunder and agrees that all such amounts charged shall constitute Revolving Loans.

Appears in 1 contract

Samples: Credit Agreement (Reeds Jewelers Inc)

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