Common use of Procedure for Revolving Credit Advances Clause in Contracts

Procedure for Revolving Credit Advances. Borrowing Representative on behalf of each Borrower may by written or telephonic notice request a borrowing of Revolving Credit Advances prior to 11:00 a.m. (New York time) on the Business Day of its request to incur, on that day, a Revolving Credit Advance. All Revolving Credit Advances shall be disbursed from whichever office or other place Lender may designate from time to time and, together with any and all other Obligations of Borrowers to Lender, shall be charged to Borrowers’ account on Lender’s books. The proceeds of each Revolving Credit Advance made by Lender shall be made available to Borrowers on the Business Day so requested by way of credit to the applicable Borrower’s operating account maintained with such bank as Borrowing Representative designated to Lender. Any and all Obligations due and owing hereunder may be charged to Borrowers’ account and shall constitute Revolving Credit Advances.

Appears in 5 contracts

Samples: Loan and Security Agreement (ATRM Holdings, Inc.), Loan and Security Agreement (ATRM Holdings, Inc.), Loan and Security Agreement (Kush Bottles, Inc.)

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Procedure for Revolving Credit Advances. Borrowing Representative on behalf of each Borrower may by written or telephonic notice request a borrowing of Revolving Credit Advances prior to 11:00 a.m. (1:00 P.M. New York time) time on the Business Day of its request to incur, on that day, a Revolving Credit Advance. All Revolving Credit Advances shall be disbursed from whichever office or other place Lender may designate from time to time and, together with any and all other Obligations of Borrowers Borrower to Lender, shall be charged to Borrowers’ the Borrower's account on Lender’s 's books. The proceeds of each Revolving Credit Advance made by the Lender shall be made available to Borrowers Borrower on the Business Day day so requested by way of credit to the applicable Borrower’s 's operating account maintained with Borrower such bank as Borrowing Representative Borrower designated to Lender. Any and all Obligations due and owing hereunder may be charged to Borrowers’ Borrower's account and shall constitute Revolving Credit Advances.

Appears in 2 contracts

Samples: Loan and Security Agreement (Greka Energy Corp), Loan and Security Agreement (Greka Energy Corp)

Procedure for Revolving Credit Advances. Borrowing Representative on behalf of each The Borrower may by written or telephonic notice request a borrowing of Revolving Credit Advances prior to 11:00 a.m. (1:00 P.M. New York time) time on the Business Day of its request to incur, on that day, a Revolving Credit Advance. All Revolving Credit Advances shall be disbursed from whichever office or other place Lender may designate from time to time and, together with any and all other Obligations of Borrowers Borrower to Lender, shall be charged to Borrowers’ the Borrower's account on Lender’s 's books. The proceeds of each Revolving Credit Advance made by the Lender shall be made available to Borrowers the Borrower on the Business Day day so requested by way of credit to the applicable Borrower’s 's operating account maintained with such bank as Borrowing Representative Borrower designated to Lender. Any and all Obligations due and owing hereunder may be charged to Borrowers’ Borrower's account and shall constitute Revolving Credit Advances.

Appears in 2 contracts

Samples: Revolving Credit and Security Agreement (Morgan Group Inc), Credit and Security Agreement (Aviation Distributors Inc)

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Procedure for Revolving Credit Advances. Borrowing Representative on behalf of each Borrower may by written or telephonic notice request a borrowing of Revolving Credit Advances prior to 11:00 a.m. (New York time) on the Business Day of its request to incur, on that day, a Revolving Credit Advance. All Revolving Credit Advances shall be disbursed from whichever office or other place Lender may designate from time to time and, together with any and all other Obligations of Borrowers to Lender, shall be charged to Borrowers’ account on LenderLxxxxx’s books. The proceeds of each Revolving Credit Advance made by Lender shall be made available to Borrowers on the Business Day so requested by way of credit to the applicable Borrower’s operating account maintained with such bank as Borrowing Representative designated to Lender. Any and all Obligations due and owing hereunder may be charged to Borrowers’ account and shall constitute Revolving Credit Advances.

Appears in 1 contract

Samples: Loan and Security Agreement (Digirad Corp)

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