REPAYMENTS OF REVOLVING CREDIT LOANS AFTER EVENT OF DEFAULT. Following the occurrence and during the continuance of an Event of Default of which the account officers of the Administrative Agent active on the Borrower's account have knowledge, all funds transferred to the Fleet Concentration Account and for which the Borrowers have received credits shall be applied to the Obligations in accordance with ss.13.4.
Appears in 2 contracts
Samples: Revolving Credit, Tranche B Loan and Security Agreement (Mayors Jewelers Inc/De), Revolving Credit, Tranche B Loan and Security Agreement (Mayors Jewelers Inc/De)
REPAYMENTS OF REVOLVING CREDIT LOANS AFTER EVENT OF DEFAULT. Following the occurrence and during the continuance of an Event of Default of which the account officers of the Administrative Agent active on the Borrower's ’s account have knowledge, all funds transferred to the Fleet Concentration Account and for which the Borrowers have received credits shall be applied to the Obligations in accordance with ss.13.4Section 13.5.
Appears in 1 contract
REPAYMENTS OF REVOLVING CREDIT LOANS AFTER EVENT OF DEFAULT. Following the occurrence and during the continuance of an Event of Default of which the account officers of the Administrative Agent active on the Borrower's account have knowledge, all funds transferred to the Fleet Concentration Account and for which the Borrowers have Borrower has received credits shall be applied to the Obligations in accordance with ss.13.4Section 15.4.
Appears in 1 contract
Samples: Revolving Credit and Term Loan Agreement (Bell Sports Corp)
REPAYMENTS OF REVOLVING CREDIT LOANS AFTER EVENT OF DEFAULT. Following the occurrence and during the continuance of an Event of Default of which the account officers of the Administrative Agent active on the Borrower's Borrowers' account have knowledge, the Administrative Agent, in its sole and absolute discretion, may apply all funds transferred to the Fleet Concentration Account and for which the Borrowers have received credits shall be applied to the Obligations in accordance with ss.13.4.
Appears in 1 contract
Samples: Revolving Credit Agreement (Fairfield Communities Inc)
REPAYMENTS OF REVOLVING CREDIT LOANS AFTER EVENT OF DEFAULT. Following the occurrence and during the continuance of an Event of Default of which the account officers offices of the Administrative Agent active on the Borrower's account have knowledge, all funds transferred to the Fleet Concentration Account and for which the Borrowers have Borrower has received credits shall be applied to the Obligations in accordance with ss.13.4.Section 15.4
Appears in 1 contract
Samples: Revolving Credit and Term Loan Agreement (Genrad Inc)
REPAYMENTS OF REVOLVING CREDIT LOANS AFTER EVENT OF DEFAULT. Following the occurrence and during the continuance of an Event of Default of which the account officers of the Administrative Agent active on the Borrower's Borrowers' account have knowledge, all funds transferred to the Fleet Concentration Account and for which the Borrowers have applicable Domestic Borrower has received credits shall be applied to the Obligations in accordance with ss.13.4Section 13.5.
Appears in 1 contract
Samples: Revolving Credit and Term Loan Agreement (Holmes Group Inc)
REPAYMENTS OF REVOLVING CREDIT LOANS AFTER EVENT OF DEFAULT. Following the occurrence and during the continuance of an Event of Default of which the account officers of the Administrative Agent active on the Borrower's Borrowers' account have knowledge, all funds transferred to the Fleet Concentration Account and for which the Borrowers have applicable Domestic Borrower has received credits shall be applied to the Obligations in accordance with ss.13.4ss.13.5.
Appears in 1 contract
Samples: Revolving Credit and Term Loan Agreement (Holmes Group Inc)
