Common use of Persons Authorized to Request Loans Clause in Contracts

Persons Authorized to Request Loans. Each Borrower hereby authorizes and directs Lenders to make loan advances to or for the benefit of Borrowers upon receipt of instructions from any of the persons listed on Item 4 of the Schedule. Neither Agent nor any Lender shall have any liability whatsoever to any Borrower or any other Person for acting upon any such instructions which Agent or such Lender, as applicable, in good faith, believes were given by any such person, and neither Agent nor any Lender shall have any duty to inquire as to the propriety of any disbursement. Agent and Lenders are hereby authorized to make the loans provided for herein based on instructions received by facsimile, electronic mail, telephone or other method of communication from any of such persons. Although Agent shall make a reasonable effort to determine the person’s identity, neither Agent nor any Lender shall be responsible for determining the authenticity of any such instructions, and Agent and Lenders may act on the instructions of anyone that Agent or such Lender perceives to be one of the persons authorized to request loans hereunder. Agent shall have the right to accept the instructions of any of the foregoing persons unless and until Agent actually receives from Borrowers’ Agent (in accordance with the notice provisions of this Agreement) written notice of termination of the authority of that person. Borrowers’ Agent may change persons designated to give Agent borrowing instructions only by delivering to Agent written notice of such change. Borrowers’ Agent will ensure that each telephone instruction from any person designated in or pursuant to this paragraph shall be followed by written confirmation of the request for disbursement in such form as Agent makes available to Borrowers from time to time for such purpose; provided, however, that Borrowers’ Agent’s failure to provide written confirmation of any telephonic instruction shall not invalidate such telephonic instruction.

Appears in 2 contracts

Samples: Loan and Security Agreement, Loan and Security Agreement (Lighting Science Group Corp)

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Persons Authorized to Request Loans. Each Borrower hereby authorizes and directs Lenders Agent to make loan Revolving Loan advances to or for the benefit of Borrowers Borrower upon receipt of instructions from any of the persons listed on Item 4 of the Schedule. Neither Agent nor any Lender Lenders shall have any liability whatsoever to any Borrower or any other Person for acting upon any such instructions which Agent or such Lender, as applicableAgent, in good faith, believes were given by any such person, and neither Agent nor any Lender shall have any no duty to inquire as to the propriety of any disbursement. Agent and Lenders are is hereby authorized to make the loans Revolving Loans provided for herein based on instructions received by facsimile, electronic mail, telephone or other method of communication from any of such persons. Although Agent shall make a reasonable effort to determine the person’s identity, neither Agent nor any Lender shall not be responsible for determining the authenticity of any such instructions, and Agent and Lenders may act on the instructions of anyone that Agent or such Lender it perceives to be one of the persons authorized to request loans hereunder. Agent shall have the right to accept the instructions of any of the foregoing persons unless and until Agent actually receives from Borrowers’ Agent Borrower (in accordance with the notice provisions of this Agreement) written notice of termination of the authority of that person. Borrowers’ Agent Borrower may change persons designated to give Agent borrowing instructions only by delivering to Agent written notice of such change. Borrowers’ Agent Borrower will ensure that each telephone instruction from any person designated in or pursuant to this paragraph shall be followed by written confirmation of the request for disbursement in such form as Agent makes available to Borrowers Borrower from time to time for such purpose; provided, however, that Borrowers’ AgentBorrower’s failure to provide written confirmation of any telephonic instruction shall not invalidate such telephonic instruction.

Appears in 2 contracts

Samples: Loan and Security Agreement (Mdu Communications International Inc), Loan and Security Agreement (Mdu Communications International Inc)

Persons Authorized to Request Loans. Each Borrower hereby authorizes and directs Lenders Lender to make loan advances to or for the benefit of Borrowers Borrower upon receipt of instructions from any of the persons listed on Item 4 of the Schedule. Neither Agent nor any Lender shall have any no liability whatsoever to any Borrower or any other Person for acting upon any such instructions which Agent or such Lender, as applicable, in good faith, believes were given by any such person, and neither Agent nor any Lender shall have any no duty to inquire as to the propriety of any disbursement. Agent and Lenders are Lender is hereby authorized to make the loans provided for herein based on instructions received by facsimile, electronic mail, telephone or other method of communication from any of such persons. Although Agent Lender shall make a reasonable effort to determine the person’s identity, neither Agent nor any Lender shall not be responsible for determining the authenticity of any such instructions, and Agent and Lenders Lender may act on the instructions of anyone that Agent or such Lender it perceives to be one of the persons authorized to request loans hereunder. Agent Lender shall have the right to accept the instructions of any of the foregoing persons unless and until Agent Lender actually receives from Borrowers’ Agent Borrower (in accordance with the notice provisions of this Agreement) written notice of termination of the authority of that person. Borrowers’ Agent Borrower may change persons designated to give Agent Lender borrowing instructions only by delivering to Agent Lender written notice of such change. Borrowers’ Agent Borrower will ensure that each telephone instruction from any person designated in or pursuant to this paragraph shall be followed by written confirmation of the request for disbursement in such form as Agent Lender makes available to Borrowers Borrower from time to time for such purpose; provided, however, that Borrowers’ AgentBorrower’s failure to provide written confirmation of any telephonic instruction shall not invalidate such telephonic instruction.

Appears in 1 contract

Samples: Loan and Security Agreement (AeroGrow International, Inc.)

Persons Authorized to Request Loans. Each Borrower hereby authorizes and directs Lenders Lender to make loan advances to or for the benefit of Borrowers Borrower upon receipt of instructions from any of the persons listed on Item 4 3 of the Schedule. Neither Agent nor any Lender shall have any no liability whatsoever to any Borrower Borrower, Parent or any other Person for acting upon any such instructions which Agent or such Lender, as applicable, in good faith, believes were given by any such person, and neither Agent nor any Lender shall have any no duty to inquire as to the propriety of any disbursement. Agent and Lenders are Lender is hereby authorized to make the loans provided for herein based on instructions received by facsimile, electronic mail, telephone or other method of communication from any of such persons. Although Agent Lender shall make a reasonable effort to determine the person’s 's identity, neither Agent nor any Lender shall not be responsible for determining the authenticity of any such instructions, and Agent and Lenders Lender may act on the instructions of anyone that Agent or such Lender it perceives to be one of the persons authorized to request loans hereunder. Agent Lender shall have the right to accept the instructions of any of the foregoing persons unless and until Agent Lender actually receives from Borrowers’ Agent Borrower (in accordance with the notice provisions of this Agreement) written notice of termination of the authority of that person. Borrowers’ Agent Borrower may change persons designated to give Agent Lender borrowing instructions only by delivering to Agent Lender written notice of such change. Borrowers’ Agent Borrower will ensure that each telephone instruction from any person designated in or pursuant to this paragraph shall be followed by written confirmation of the request for disbursement in such form as Agent Lender makes available to Borrowers Borrower from time to time for such purpose; provided, however, that Borrowers’ Agent’s Borrower's failure to provide written confirmation of any telephonic instruction shall not invalidate such telephonic instruction.

Appears in 1 contract

Samples: Loan and Security Agreement (Xponential Inc)

Persons Authorized to Request Loans. Each Borrower hereby authorizes and directs Lenders Lender to make loan advances to or for the benefit of Borrowers Borrower upon receipt of instructions from any of the persons listed on Item 4 3 of the Schedule. Neither Agent nor any Lender shall have any no liability whatsoever to any Borrower or any other Person for acting upon any such instructions which Agent or such Lender, as applicable, in good faith, believes were given by any such person, and neither Agent nor any Lender shall have any no duty to inquire as to the propriety of any disbursement. Agent and Lenders are Lender is hereby authorized to make the loans provided for herein based on instructions received by facsimile, electronic mail, telephone or other method of communication from any of such persons. Although Agent Lender shall make a reasonable effort to determine the person’s 's identity, neither Agent nor any Lender shall not be responsible for determining the authenticity of any such instructions, and Agent and Lenders Lender may act on the instructions of anyone that Agent or such Lender it perceives to be one of the persons authorized to request loans hereunder. Agent Lender shall have the right to accept the instructions of any of the foregoing persons unless and until Agent Lender actually receives from Borrowers’ Agent Borrower (in accordance with the notice provisions of this Agreement) written notice of termination of the authority of that person. Borrowers’ Agent Borrower may change persons designated to give Agent Lender borrowing instructions only by delivering to Agent Lender written notice of such change. Borrowers’ Agent Borrower will ensure that each telephone instruction from any person designated in or pursuant to this paragraph shall be followed by written confirmation of the request for disbursement in such form as Agent Lender makes available to Borrowers Borrower from time to time for such purpose; provided, however, that Borrowers’ Agent’s Borrower's failure to provide written confirmation of any telephonic instruction shall not invalidate such telephonic instruction.

Appears in 1 contract

Samples: Loan and Security Agreement (Anthony Clark International Insurance Brokers LTD)

Persons Authorized to Request Loans. Each Borrower Borrowers hereby authorizes authorize and directs Lenders direct Lender to make loan advances to or for the benefit of Borrowers upon receipt of instructions from any of the persons listed on Item 4 of the Schedule. Neither Agent nor any Lender shall have any no liability whatsoever to any Borrower or any other Person for acting upon any such instructions which Agent or such Lender, as applicable, in good faith, believes were given by any such person, and neither Agent nor any Lender shall have any no duty to inquire as to the propriety of any disbursement. Agent and Lenders are Lender is hereby authorized to make the loans provided for herein based on instructions received by facsimile, electronic mail, telephone or other method of communication from any of such persons. Although Agent Lender shall make a reasonable effort to determine the person’s identity, neither Agent nor any Lender shall not be responsible for determining the authenticity of any such instructions, and Agent and Lenders Lender may act on the instructions of anyone that Agent or such Lender it perceives to be one of the persons authorized to request loans hereunder. Agent Lender shall have the right to accept the instructions of any of the foregoing persons unless and until Agent Lender actually receives from Borrowers’ Agent (in accordance with the notice provisions of this Agreement) written notice of termination of the authority of that person. Borrowers’ Agent Borrowers may change persons designated to give Agent Lender borrowing instructions only by delivering causing Borrowers’ Agent to Agent deliver to Lender written notice of such change. Borrowers’ Agent Borrowers will ensure that each telephone instruction from any person designated in or pursuant to this paragraph shall be followed by written confirmation of the request for disbursement in such form as Agent Lender makes available to Borrowers from time to time for such purpose; provided, however, that Borrowers’ Agent’s failure to provide written confirmation of any telephonic instruction shall not invalidate such telephonic instruction.

Appears in 1 contract

Samples: Loan and Security Agreement (Greenhold Group Inc)

Persons Authorized to Request Loans. Each The Borrower hereby authorizes and directs the Lenders to make loan advances Loans to or for the benefit of Borrowers Borrower upon receipt of instructions from any of the persons listed on Item 4 3 of the Schedule. Neither Agent nor any Lender Lenders shall have any liability whatsoever to any the Borrower or any other Person for acting upon any such instructions which Agent or such Lender, as applicableAgent, in good faith, believes were given by any such person, and neither Agent nor any Lender shall have any no duty to inquire as to the propriety of any disbursement. Agent and the Lenders are hereby authorized to make the loans Loans provided for herein based on instructions received by facsimile, electronic mail, telephone or other method of communication from any of such persons. Although Agent shall make a reasonable effort to determine the person’s identity, neither Agent nor any Lender shall not be responsible for determining the authenticity of any such instructions, and Agent and the Lenders may act on the instructions of anyone that Agent or such Lender it reasonably perceives to be one of the persons authorized to request loans Loans hereunder. Agent shall have the right to accept the instructions of any of the foregoing persons unless and until Agent actually receives from Borrowers’ Agent a Borrower (in accordance with the notice provisions of this Agreement) written notice of termination of the authority of that person. Borrowers’ Agent The Borrower may change persons designated to give Agent borrowing instructions only by delivering to Agent written notice of such change. Borrowers’ Agent The Borrower will ensure that each telephone instruction from any person designated in or pursuant to this paragraph shall be followed by written confirmation of the request for disbursement in such form as Agent makes available to Borrowers the Borrower from time to time for such purpose; provided, however, that Borrowers’ Agenta Borrower’s failure to provide written confirmation of any telephonic instruction shall not invalidate such telephonic instruction.

Appears in 1 contract

Samples: Loan, Guaranty and Security Agreement (Silverstar Holdings LTD)

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Persons Authorized to Request Loans. Each Borrower hereby authorizes and directs Lenders Lender to make loan advances to or for the benefit of Borrowers Borrower upon receipt of instructions from any of the persons listed on Item 4 2 of the Schedule. Neither Agent nor any Lender shall have any no liability whatsoever to any Borrower or any other Person for acting upon any such instructions which Agent or such Lender, as applicable, in good faith, believes were given by any such person, and neither Agent nor any Lender shall have any no duty to inquire as to the propriety of any disbursement. Agent and Lenders are Lender is hereby authorized to make the loans provided for herein based on instructions received by facsimile, electronic mail, telephone or other method of communication from any of such persons. Although Agent Lender shall make a reasonable effort to determine the person’s identity, neither Agent nor any Lender shall not be responsible for determining the authenticity of any such instructions, and Agent and Lenders Lender may act on the instructions of anyone that Agent or such Lender it perceives to be one of the persons authorized to request loans hereunder. Agent Lender shall have the right to accept the instructions of any of the foregoing persons unless and until Agent Lender actually receives from Borrowers’ Agent Borrower (in accordance with the notice provisions of this Agreement) written notice of termination of the authority of that person. Borrowers’ Agent Borrower may change persons designated to give Agent Lender borrowing instructions only by delivering to Agent Lender written notice of such change. Borrowers’ Agent Borrower will ensure that each telephone instruction from any person designated in or pursuant to this paragraph shall be followed by written confirmation of the request for disbursement in such form as Agent Lender makes available to Borrowers Borrower from time to time for such purpose; provided, however, that Borrowers’ AgentBorrower’s failure to provide written confirmation of any telephonic instruction shall not invalidate such telephonic instruction.

Appears in 1 contract

Samples: Loan and Security Agreement (Full Circle Capital Corp)

Persons Authorized to Request Loans. Each Borrower hereby authorizes and directs Lenders Lender to make loan advances to or for the benefit of Borrowers Borrower upon receipt of instructions from any of the persons listed on Item 4 of the Schedule. Neither Agent nor any Lender shall have any no liability whatsoever to any Borrower or any other Person for acting upon any such instructions which Agent or such Lender, as applicable, in good faith, believes were given by any such person, and neither Agent nor any Lender shall have any no duty to inquire as to the propriety of any disbursement. Agent and Lenders are Lender is hereby authorized to make the loans provided for herein based on instructions received by facsimile, electronic mail, telephone or other method of communication from any of such persons. Although Agent Lender shall make a reasonable effort to determine the person’s 's identity, neither Agent nor any Lender shall not be responsible for determining the authenticity of any such instructions, and Agent and Lenders Lender may act on the instructions of anyone that Agent or such Lender it perceives to be one of the persons authorized to request loans hereunder. Agent Lender shall have the right to accept the instructions of any of the foregoing persons unless and until Agent Lender actually receives from Borrowers’ Agent Borrower (in accordance with the notice provisions of this Agreement) written notice of termination of the authority of that person. Borrowers’ Agent Borrower may change persons designated to give Agent Lender borrowing instructions only by delivering to Agent Lender written notice of such change. Borrowers’ Agent Borrower will ensure that each telephone instruction from any person designated in or pursuant to this paragraph section shall be followed by written confirmation of the request for disbursement in such form as Agent Lender makes available to Borrowers Borrower from time to time for such purpose; provided, however, that Borrowers’ Agent’s Borrower's failure to provide written confirmation of any telephonic instruction shall not invalidate such telephonic instruction.

Appears in 1 contract

Samples: Loan and Security Agreement (Reeds Inc)

Persons Authorized to Request Loans. Each Borrower hereby authorizes and directs Lenders Lender to make loan advances to or for the benefit of Borrowers Borrower upon receipt of instructions from any of the persons listed on Item 4 of the Schedule. Neither Agent nor any Lender shall have any no liability whatsoever to any Borrower or any other Person for acting upon any such instructions which Agent or such Lender, as applicable, in good faith, believes were given by any such person, and neither Agent nor any Lender shall have any no duty to inquire as to the propriety of any disbursement. Agent and Lenders are Lender is hereby authorized to make the loans provided for herein based on instructions received by facsimile, electronic mail, telephone or other method of communication from any of such persons. Although Agent Lender shall make a reasonable effort to determine the person’s identity, neither Agent nor any Lender shall not be responsible for determining the authenticity of any such instructions, and Agent and Lenders Lender may act on the instructions of anyone that Agent or such Lender it perceives to be one of the persons authorized to request loans hereunder. Agent Lender shall have the right to accept the instructions of any of the foregoing persons unless and until Agent Lender actually receives from Borrowers’ Agent Borrower (in accordance with the notice provisions of this Agreement) written notice of termination of the authority of that person. Borrowers’ Agent Borrower may change persons designated to give Agent Lender borrowing instructions only by delivering to Agent Lender written notice of such change. Borrowers’ Agent Borrower will ensure that each telephone instruction from any person designated in or pursuant to this paragraph section shall be followed by written confirmation of the request for disbursement in such form as Agent Lender makes available to Borrowers Borrower from time to time for such purpose; provided, however, that Borrowers’ AgentBorrower’s failure to provide written confirmation of any telephonic instruction shall not invalidate such telephonic instruction.

Appears in 1 contract

Samples: Loan and Security Agreement (Reeds Inc)

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