Common use of Payroll Accounts Clause in Contracts

Payroll Accounts. Borrower shall not maintain a greater balance in any payroll account than is necessary to support Borrower’s current payroll and payroll for one additional payroll cycle (bi-monthly or weekly as applicable).

Appears in 6 contracts

Samples: Revolving Credit and Security Agreement (Neogenomics Inc), Revolving Credit and Security Agreement (Neogenomics Inc), Revolving Credit and Security Agreement (Neogenomics Inc)

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Payroll Accounts. No Borrower shall not maintain a greater balance in any payroll account than is necessary to support such Borrower’s current payroll and payroll for one additional payroll cycle (bi-monthly or weekly as applicable).

Appears in 2 contracts

Samples: Credit Agreement (Enzo Biochem Inc), Credit Agreement (Assisted 4 Living, Inc.)

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