Sales Tax. Borrower shall notify Bank if any Account includes any sales or other similar tax and Bank may, but shall not be obligated to, remit any such taxes directly to the taxing authority and make Advances or charge the Demand Deposit Account therefor. In no event shall Bank be liable for any such taxes.
Appears in 4 contracts
Samples: Revolving and Term Credit and Security Agreement (Aerosonic Corp /De/), Loan Credit Agreement (Farrel Corp), Credit and Security Agreement (SFBC International Inc)
Sales Tax. The Borrower shall notify Bank the Lender if any Account includes any sales or other similar tax and Bank the Lender may, but shall not be obligated to, remit any such taxes directly to the taxing authority and make Advances or charge the Demand Deposit Account thereforAdvances. In no event shall Bank the Lender be liable for any such taxes. 42.
Appears in 3 contracts
Samples: Share Purchase Agreement (Vector Aeromotive Corp), Share Purchase Agreement (Welty W R), Share Purchase Agreement (American Dream International LTD)
Sales Tax. Borrower shall notify Bank if any Account includes any sales or other similar tax and Bank may, but shall not be obligated to, remit any such taxes directly to the taxing authority and make Advances under the Revolving Loan or charge the Demand Deposit Account therefor. In no event shall Bank be liable for any such taxes.
Appears in 2 contracts
Samples: Credit and Security Agreement (Sancilio Pharmaceuticals Company, Inc.), Credit and Security Agreement (Sancilio Pharmaceuticals Company, Inc.)
Sales Tax. Borrower shall notify Bank if any Account includes any sales or other similar tax and Bank may, but shall not be obligated to, remit any such taxes directly to the taxing authority and make Advances under the Equipment Loan or charge the Demand Deposit Account therefor. In no event shall Bank be liable for any such taxes.
Appears in 2 contracts
Samples: Credit and Security Agreement (Sancilio Pharmaceuticals Company, Inc.), Credit and Security Agreement (Sancilio Pharmaceuticals Company, Inc.)
Sales Tax. The Borrower shall notify the Bank if any Account includes any sales or other similar tax and the Bank may, but shall not be obligated to, may at Bank's option either disburse amounts to Borrower from the Special Loan Accounts for payment to the taxing authority if the Special Loan Account contains sufficient amounts to pay or remit any such taxes directly to the taxing authority and make Advances or charge the Demand Deposit Special Loan Account therefor. In no event shall the Bank be liable for any such taxes.
Appears in 2 contracts
Samples: Credit and Security Agreement (Able Telcom Holding Corp), Term Loan and Security Agreement (Able Telcom Holding Corp)
Sales Tax. The Borrower shall notify the Bank if any Account includes any sales or other similar tax and the Bank may, but shall not be obligated to, remit any such taxes directly to the taxing authority and make Advances or charge the Demand Deposit Special Loan Account therefor. In no event shall the Bank be liable for any such taxes.
Appears in 2 contracts
Samples: Credit and Security Agreement (Advanced Communication Systems Inc), Credit Agreement (Boca Research Inc)
Sales Tax. Borrower shall notify Bank if any Account includes --------- any sales or other similar tax and and, to the extent Borrower fails to pay the same, Bank may, but shall not be obligated to, remit any such taxes directly to the taxing authority and make Advances or charge the Demand Deposit Account therefor. In no event shall Bank be liable for any such taxes.
Appears in 1 contract
Samples: Loan and Security Agreement (Bradley Pharmaceuticals Inc)
Sales Tax. The Borrower shall notify the Bank if any Account includes any sales or other similar tax and and, if not paid by the Borrower prior to the date upon which the same shall become delinquent, the Bank may, but shall not be obligated to, remit any such taxes directly to the taxing authority and make Advances or charge the Demand Deposit Special Loan Account therefor. In no event shall the Bank be liable for any such taxes.
Appears in 1 contract
Samples: Revolving Credit and Security Agreement (Nstor Technologies Inc)
Sales Tax. Borrower shall notify Bank if any Account includes any sales or other similar tax and Bank may, but shall not be obligated to, remit any such taxes directly to the taxing authority and make Advances or charge the Demand Deposit Account therefor. In no event shall Bank be liable for any such taxes.
Appears in 1 contract
Samples: Non Revolving Credit and Security Agreement (Unilife Corp)
Sales Tax. Borrower shall notify Bank if any Account includes any --------- sales or other similar tax and Bank may, but shall not be obligated to, remit any such taxes directly to the taxing authority and make Advances or charge the Demand Deposit Special Loan Account therefor. In no event shall Bank be liable for any such taxes.
Appears in 1 contract
Samples: Credit and Security Agreement (Pra International Inc)
Sales Tax. Borrower shall notify Bank Lender if any Account includes any sales or other similar tax and Bank Lender may, but shall not be obligated to, remit any such taxes directly to the taxing authority and make Advances or charge the Demand Deposit Account therefor. In no event shall Bank Lender be liable for any such taxes.
Appears in 1 contract
Samples: Revolving Credit and Security Agreement (Corgenix Medical Corp/Co)
Sales Tax. Borrower shall notify Bank if any Account includes any sales or other similar tax and Bank may, but shall not be obligated to, remit any such taxes directly to the taxing authority and make Advances or charge the Demand Deposit Collections Account therefor. In no event shall Bank be liable for any such taxes.
Appears in 1 contract
Samples: Revolving Credit and Security Agreement (Intelligroup Inc)
Sales Tax. Borrower shall notify Bank if any Account includes any sales or other similar tax and Bank may, but shall not be obligated to, remit any such taxes directly to the taxing authority and make Advances or charge the Demand Deposit Account therefortherefore. In no event shall Bank be liable for any such taxes.
Appears in 1 contract
Sales Tax. The Borrower shall notify the Bank if any Account includes any sales or other similar tax and the Bank may, but shall not be obligated to, remit any such taxes directly to the taxing authority and make Advances or charge the Demand Deposit Account therefor. In no event shall the Bank be liable Liable for any such taxes.
Appears in 1 contract
Samples: Credit and Security Agreement (Prestige Cosmetics Corp)
