Returned Instruments. If a payment is made by check, draft or other instrument and the check, draft or other instrument is returned unpaid, any application of the payment to the Loan Obligations will be reversed and will be treated as never having been made.
Appears in 18 contracts
Samples: Assignment and Assumption (Young Innovations Inc), Credit Agreement (Young Innovations Inc), Loan Agreement (Layne Christensen Co)
Returned Instruments. If a payment is made by check, draft or other instrument and the check, draft or other instrument is returned unpaid, any the application of the payment to the Loan Obligations will be reversed and will be treated as never having been made.
Appears in 5 contracts
Samples: Loan Agreement (Labarge Inc), Loan Agreement (Omniquip International Inc), Loan Agreement (Intrav Inc)
Returned Instruments. If a payment is made by check, draft or other instrument and the check, draft or other instrument is returned unpaid, any the application of the payment to the Loan Obligations Obligation will be reversed and will be treated as never having been made.
Appears in 1 contract
Samples: Credit Agreement (Osullivan Industries Holdings Inc)
