Common use of Selection of Settlement Dates Clause in Contracts

Selection of Settlement Dates. If the Agent elects, in its discretion, but subject to the consent of the Settlement Lender, to settle accounts among the Lenders with respect to principal amounts of Revolving Credit Loans less frequently than each Business Day, then the Agent shall designate periodic Settlement Dates which may occur on any Business Day after the Effective Date; provided, however, that the Agent shall designate as a Settlement Date any Business Day which is an Interest Payment Date; and provided further, that a Settlement Date shall occur at least once during each seven-day period. The Agent shall designate a Settlement Date by delivering to each Lender a Settlement Report not later than 12:00 noon (New York time) on the proposed Settlement Date, which Settlement Report will be in the form of Exhibit D hereto and shall be with respect to the period beginning on the next preceding Settlement Date and ending on such designated Settlement Date.

Appears in 3 contracts

Samples: Loan and Security Agreement (Trism Inc /De/), Loan and Security Agreement (Trism Inc /De/), Trism Inc /De/

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Selection of Settlement Dates. If the Agent elects, in its discretion, but subject to the consent of the Settlement LenderBank of America, to settle accounts among the Lenders with respect to principal amounts of Revolving Credit Loans less frequently than each Business Day, then the Agent shall designate periodic Settlement Dates which may occur on any Business Day after the Effective Date; providedPROVIDED, howeverHOWEVER, that the Agent shall designate as a Settlement Date any Business Day which is an Interest Payment Date; and provided furtherPROVIDED FURTHER, that a Settlement Date shall occur at least once during each seven-day period. The Agent shall designate a Settlement Date by delivering to each Lender a Settlement Report not later than 12:00 noon (New York time) on the proposed Settlement Date, which Settlement Report will be in the form of Exhibit D hereto and shall be with respect to the period beginning on the next preceding Settlement Date and ending on such designated Settlement Date.

Appears in 2 contracts

Samples: Tultex Corp, Tultex Corp

Selection of Settlement Dates. If the Agent elects, in its discretion, but subject to the consent of the Settlement Lender, to settle accounts among the Lenders with respect to principal amounts of Revolving Credit Loans less frequently than each Business Day, then the Agent shall designate periodic Settlement Dates which may occur on any Business Day after the Effective Date; provided, however, that the Agent shall designate as a Settlement Date any Business Day which is an Interest Payment Date; and provided further, that a Settlement Date shall occur at least once during each seven-day period. The Agent shall designate a Settlement Date by delivering to each Lender a Settlement Report not later than 12:00 noon (New York time) on the proposed Settlement Date, which Settlement Report will be in the form of Exhibit D hereto and shall be with respect to the period beginning on the next preceding Settlement Date and ending on such designated Settlement Date.

Appears in 2 contracts

Samples: Loan and Security Agreement (Tropical Sportswear International Corp), Loan and Security Agreement (Loehmanns Holdings Inc)

Selection of Settlement Dates. If the Agent elects, in its discretion, but subject to the consent of the Settlement LenderNationsBank, to settle accounts among the Lenders with respect to principal amounts of Revolving Credit Loans less frequently than each Business Day, then the Agent shall designate periodic Settlement Dates which may occur on any Business Day after the Effective Date; providedPROVIDED, howeverHOWEVER, that the Agent shall designate as a Settlement Date any Business Day which is an Interest Payment Date; and provided furtherPROVIDED FURTHER, that a Settlement Date shall occur at least once during each seven-day period. The Agent shall designate a Settlement Date by delivering to each Lender a Settlement Report not later than 12:00 noon (New York Atlanta time) on the proposed Settlement Date, which Settlement Report will be in the form of Exhibit D EXHIBIT E hereto and shall be with respect to the period beginning on the next preceding Settlement Date and ending on such designated Settlement Date.

Appears in 2 contracts

Samples: Loan and Security Agreement (Meadowcraft Inc), Loan and Security Agreement (Kellstrom Industries Inc)

Selection of Settlement Dates. If the Agent elects, in its discretion, but subject to the consent of the Settlement LenderM&T, to settle accounts (“Settlement”) among the Lenders with respect to principal amounts of Revolving Credit Loans Loan less frequently than each Business Day, then the Agent shall designate periodic Settlement Dates which that may occur on any Business Day after the Effective Closing Date; provided, however, that the Agent shall designate as a Settlement Date any Business Day which that is an Interest Payment Date; and provided further, that a Settlement Date shall occur at least once during each seven-day periodweek. The Agent shall designate a Settlement Date by delivering to each Lender a Settlement Report not later than 12:00 noon (New York timeBaltimore City Time) on the proposed Settlement Date, which Settlement Report will be in the form of Exhibit D hereto and shall be with respect to the period beginning on the next immediately preceding Settlement Date and ending on such designated Settlement Date.

Appears in 2 contracts

Samples: Financing and Security Agreement (Dcap Group Inc), Financing and Security Agreement (Dcap Group Inc)

Selection of Settlement Dates. If the Agent elects, in its discretion, but subject to the consent of the Settlement LenderNationsBank, to settle accounts among the Lenders with respect to principal amounts of Revolving Credit Loans less frequently than each Business Day, then the Agent shall designate periodic Settlement Dates which may occur on any Business Day after the Effective Date; providedPROVIDED, howeverHOWEVER, that the Agent shall designate as a Settlement Date any Business Day which is an Interest Payment Date; and provided furtherPROVIDED FURTHER, that a Settlement Date shall occur at least once during each seven-day period. The Agent shall designate a Settlement Date by delivering to each Lender a Settlement Report not later than 12:00 noon (New York Atlanta time) on the proposed Settlement Date, which Settlement Report will be in the form of Exhibit EXHIBIT D hereto and shall be with respect to the period beginning on the next preceding Settlement Date and ending on such designated Settlement Date.

Appears in 2 contracts

Samples: Loan and Security Agreement (Supreme International Corp), Loan and Security Agreement (Supreme International Corp)

Selection of Settlement Dates. If the Administrative Agent elects, in its discretion, but subject to the consent of the Settlement LenderNationsBank, to settle accounts among the Lenders with respect to principal amounts of Revolving Credit Loans Loan less frequently than each Business Day, then the Administrative Agent shall designate periodic Settlement Dates which may occur on any Business Day after the Effective Closing Date; provided, however, that the Administrative Agent shall designate as a Settlement Date any Business Day which is an Interest Payment Date; and provided further, that a Settlement Date shall occur at least once during each seven-day period. The Administrative Agent shall designate a Settlement Date by delivering to each Lender a Settlement Report not later than 12:00 noon (New York timeBaltimore City Time) on the proposed Settlement Date, which Settlement Report will be in the form of Exhibit D hereto and shall be with respect to the period beginning on the next preceding Settlement Date and ending on such designated Settlement Date.

Appears in 2 contracts

Samples: Financing and Security Agreement (Walbro Corp), Financing and Security Agreement (Walbro Corp)

Selection of Settlement Dates. If the Agent elects, in its discretion, but subject to the consent of the Settlement LenderNationsBank, to settle accounts among the Lenders with respect to principal amounts of Revolving Credit Loans less frequently than each Business Day, then the Agent shall designate periodic Settlement Dates which may occur on any Business Day after the Effective Date; provided, however, that the Agent shall designate as a Settlement Date any Business Day which is an Interest Payment Date; and provided further, that a Settlement Date shall occur at least once during each seven-day period. The Agent shall designate a Settlement Date by delivering to each Lender a Settlement Report not later than 12:00 noon (New York Atlanta time) on the proposed Settlement Date, which Settlement Report will be in the form of Exhibit D E hereto and shall be with respect to the period beginning on the next preceding Settlement Date and ending on such designated Settlement Date.

Appears in 2 contracts

Samples: Loan and Security Agreement (Ithaca Industries Inc), Loan and Security Agreement (American Aircarriers Support Inc)

Selection of Settlement Dates. If the Agent elects, in its discretion, but subject to the consent of the Settlement Lender, to settle accounts among the Lenders with respect to principal amounts of Revolving Credit Loans less frequently than each Business Day, then the Agent shall designate periodic Settlement Dates which may occur on any Business Day after the Effective Date; provided, however, that the Agent shall designate as a Settlement Date any Business Day which is an Interest Payment Date; and provided further, that a Settlement Date shall occur at least once during each seven-seven- day period. The Agent shall designate a Settlement Date by delivering to each Lender a Settlement Report not later than 12:00 noon (New York time) on the proposed Settlement Date, which Settlement Report will be in the form of Exhibit D hereto and shall be with respect to the period beginning on the next preceding Settlement Date and ending on such designated Settlement Date.

Appears in 1 contract

Samples: And Security Agreement (Tropical Sportswear International Corp)

Selection of Settlement Dates. If the Agent elects, in its discretion, but subject to the consent of the Settlement LenderBANA, to settle accounts among the Formula Lenders with respect to principal amounts of the Revolving Credit Loans Loan less frequently than each Business Day, then the Agent shall designate periodic Settlement Dates which may occur on any Business Day after the Effective Closing Date; provided, however, that the Agent shall designate as a Settlement Date any Business Day which is an Interest Payment Date; and provided further, that a Settlement Date shall occur at least once during each seven-day period. The Agent shall designate a Settlement Date by delivering to each Formula Lender a Settlement Report not later than 12:00 noon (New York timeChicago, Illinois Time) on the proposed Settlement Date, which Settlement Report will be in the form of Exhibit D hereto and shall be with respect to the period beginning on the next preceding Settlement Date and ending on such designated Settlement Date.

Appears in 1 contract

Samples: Financing and Security Agreement (Reunion Industries Inc)

Selection of Settlement Dates. If the Agent elects, in its discretion, but subject to the consent of the Settlement LenderFCC, to settle accounts among the Lenders with respect to principal amounts of Revolving Credit Loans less frequently than each Business Day, then the Agent shall designate periodic Settlement Dates which may occur on any Business Day after the Effective Date; provided, however, that the Agent shall designate as a Settlement Date any Business Day which is an Interest Payment Date; and provided further, that a Settlement Date shall occur at least once during each seven-day period. The Agent shall designate a Settlement Date by delivering to each Lender a Settlement Report not later than 12:00 noon (New York time) on the proposed Settlement Date, which Settlement Report will be in the form of Exhibit D E hereto and shall be computed with respect to the period beginning on the next preceding Settlement Date and ending on such designated Settlement Date.

Appears in 1 contract

Samples: Loan and Security Agreement (Collins Industries Inc)

Selection of Settlement Dates. If the Agent elects, in its discretion, but subject to the consent of the Settlement LenderBank of America, to settle accounts among the Lenders with respect to principal amounts of Revolving Credit Loans less frequently than each Business Day, then the Agent shall designate periodic Settlement Dates which may occur on any Business Day after the Effective Date; provided, however, that the Agent shall designate as a Settlement Date any Business Day which is an Interest Payment Date; and provided further, that a Settlement Date shall occur at least once during each seven-day period. The Agent shall designate a Settlement Date by delivering to each Lender a Settlement Report not later than 12:00 noon (New York time) on the proposed Settlement Date, which Settlement Report will be in the form of Exhibit D hereto and shall be with respect to the period beginning on the next preceding Settlement Date and ending on such designated Settlement Date.

Appears in 1 contract

Samples: Safety Components International Inc

Selection of Settlement Dates. If the Agent elects, in its discretion, but subject to the consent of the Settlement Lender, to settle accounts among the Lenders with respect to principal amounts of Revolving Credit Loans less frequently than each Business Day, then the Agent shall designate periodic Settlement Dates which may occur on any Business Day after the Effective Date; 45 52 provided, however, that the Agent shall designate as a Settlement Date any Business Day which is an Interest Payment Date; and provided further, that a Settlement Date shall occur at least once during each seven-day period. The Agent shall designate a Settlement Date by delivering to each Lender a Settlement Report not later than 12:00 noon (New York Atlanta time) on the proposed Settlement Date, which Settlement Report will be in the form of Exhibit D hereto and shall be with respect to the period beginning on the next preceding Settlement Date and ending on such designated Settlement Date.

Appears in 1 contract

Samples: Loan and Security Agreement (Goodys Family Clothing Inc /Tn)

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Selection of Settlement Dates. If the Agent elects, in its discretion, but subject to the consent of the Settlement Lender, to settle accounts among the Lenders with respect to principal amounts of Revolving Credit Loans less frequently than each Business Day, then the Agent shall designate periodic Settlement Dates which may occur on any Business Day after the Effective Date; provided, however, that the Agent shall designate as a Settlement Date any Business Day which is an Interest Payment Date; and provided further, that a Settlement Date shall occur at least once during each seven-day period. The Agent shall designate a Settlement Date by delivering to each Lender a Settlement Report not later than 12:00 noon (New York time) on the proposed Settlement Date, which Settlement Report will be in the form of Exhibit D E hereto and shall be with respect to the period beginning on the next preceding Settlement Date and ending on such designated Settlement Date.

Appears in 1 contract

Samples: Loan and Security Agreement (Trism Inc /De/)

Selection of Settlement Dates. If the Agent elects, in its discretion, but subject to the consent of the Settlement LenderNationsBank, to settle accounts among the Lenders with respect to principal amounts of Revolving Credit Loans less frequently than each Business Day, then the Agent shall designate periodic Settlement Dates which may occur on any Business Day after the Effective Date; providedPROVIDED, howeverHOWEVER, that the Agent shall designate as a Settlement Date any Business Day which is an Interest Payment Date; and provided furtherPROVIDED FURTHER, that a Settlement Date shall occur at least once during each seven-day period. The Agent shall designate a Settlement Date by delivering to each Lender a Settlement Report not later than 12:00 noon (New York time) on the proposed Settlement Date, which Settlement Report will be in the form of Exhibit D EXHIBIT E hereto and shall be with respect to the period beginning on the next preceding Settlement Date and ending on such designated Settlement Date.

Appears in 1 contract

Samples: Loan and Security Agreement (Tultex Corp)

Selection of Settlement Dates. If the Administrative Agent elects, in its discretion, but subject to the consent of the Settlement LenderNationsBank, to settle accounts among the Lenders with respect to principal amounts of Revolving Credit Prime Rate Loans less frequently than each Business Day, then the Administrative Agent shall designate periodic Settlement Dates which may occur on any Business Day after the Effective Date; provided, however, that (A) the Administrative Agent shall designate as a Settlement Date any Business Day which is an Interest Payment Date; Date and provided further, that (B) a Settlement Date shall occur at least once during each seven-day periodnot less often than every five Business Days. The Administrative Agent shall designate a Settlement Date by delivering to each Lender a Settlement Report not later than 12:00 noon (New York time) on the proposed Settlement Date, which Settlement Report will be in the form of Exhibit D E hereto and shall be with respect to the period beginning on the next preceding Settlement Date and ending on such designated Settlement Date.

Appears in 1 contract

Samples: Loan and Security Agreement (Syratech Corp)

Selection of Settlement Dates. If the Agent elects, in its discretion, but subject to the consent of the Settlement Lender, to settle accounts among the Lenders with respect to principal amounts of Revolving Credit Loans less frequently than each Business Day, then the Agent shall designate periodic Settlement Dates which may occur on any Business Day after the Effective Date; providedPROVIDED, howeverHOWEVER, that the Agent shall designate as a Settlement Date any Business Day which is an Interest Payment Date; and provided furtherPROVIDED FURTHER, that a Settlement Date shall occur at least once during each seven-day period. The Agent shall designate a Settlement Date by delivering to each Lender a Settlement Report not later than 12:00 noon (New York time) on the proposed Settlement Date, which Settlement Report will be in the form of Exhibit D EXHIBIT E hereto and shall be with respect to the period beginning on the next preceding Settlement Date and ending on such designated Settlement Date.

Appears in 1 contract

Samples: Loan and Security Agreement (Galileo Corp)

Selection of Settlement Dates. If the Agent elects, in its discretion, but subject to the consent of the Settlement LenderCitizens, to settle accounts among the Lenders with respect to principal amounts of Revolving Credit Loans Loan less frequently than each Business Day, then the Agent shall designate periodic Settlement Dates which may occur on any Business Day after the Effective Closing Date; provided, however, that the Agent shall designate as a Settlement Date any Business Day which is an Interest Payment Date; and provided further, that a Settlement Date shall occur at least once during each seven-day period. The Agent shall designate a Settlement Date by delivering to each Lender a Settlement Report not later than 12:00 noon (New York timeEastern Time) on the proposed Settlement Date, which Settlement Report will be in the form of Exhibit D hereto and shall be with respect to the period beginning on the next preceding Settlement Date and ending on such designated Settlement Date.

Appears in 1 contract

Samples: Business Loan and Security Agreement (Vse Corp)

Selection of Settlement Dates. If the Agent elects, in its discretion, but subject to the consent of the Settlement LenderNationsBank, to settle accounts among the Lenders with respect to principal amounts of Revolving Credit Loans less frequently frequenfiy than each Business Day, then the Agent shall designate periodic Settlement Dates which may occur on any Business Day after the Effective Date; provided, however, that the Agent shall designate as a Settlement Date any Business Day which is an Interest Payment Date; and provided further, that a Settlement Date shall occur at least once during each seven-day period. The Agent shall designate a Settlement Date by delivering to each Lender a Settlement Report not later than 12:00 noon (New York time) on the proposed Settlement Date, which Settlement Report will be in the form of Exhibit D F hereto and shall be computed with respect to the period beginning on the next preceding Settlement Date and ending on such designated Settlement Date.

Appears in 1 contract

Samples: Loan and Security Agreement (Collins Industries Inc)

Selection of Settlement Dates. If the Agent elects, in its discretion, but subject to the consent of the Settlement LenderNationsBank, to settle accounts among the Lenders with respect to principal amounts of Revolving Credit Loans less frequently than each Business Day, then the Agent shall designate periodic Settlement Dates which may occur on any Business Day after the Effective Date; providedPROVIDED, howeverHOWEVER, that the Agent shall designate as a Settlement Date any Business Day which is an Interest Payment Date; and provided furtherPROVIDED FURTHER, that a Settlement Date shall occur at least once during each seven-seven day period. The Agent shall designate a Settlement Date by delivering to each Lender a Settlement Report not later than 12:00 noon (New York Dallas, Texas time) on the proposed Settlement Date, which Settlement Report will be in the form of Exhibit D hereto and shall be with respect to the period beginning on the next preceding Settlement Date and ending on such designated Settlement Date.

Appears in 1 contract

Samples: Loan and Security Agreement (Compusa Inc)

Selection of Settlement Dates. If the Administrative Agent elects, in its discretion, but subject to the consent of the Settlement LenderBank of America, to settle accounts among the Lenders with respect to principal amounts of Revolving Credit Base Rate Loans less frequently than each Business Day, then the Administrative Agent shall designate periodic Settlement Dates which may occur on any Business Day after the Effective Date; provided, however, that (A) the Administrative Agent shall designate as a Settlement Date any Business Day which is an Interest Payment Date; Date and provided further, that (B) a Settlement Date shall occur at least once during each seven-day periodnot less often than every five Business Days. The Administrative Agent shall designate a Settlement Date by delivering to each Lender a Settlement Report not later than 12:00 noon (New York time) on the proposed Settlement Date, which Settlement Report will be in the form of Exhibit D E hereto and shall be with respect to the period beginning on the next preceding Settlement Date and ending on such designated Settlement Date.

Appears in 1 contract

Samples: Loan and Security Agreement (Syratech Corp)

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