Common use of Single Loan Account Clause in Contracts

Single Loan Account. At the request of Borrowers to facilitate and expedite the administration and accounting processes and procedures of the Loans and Borrowings, Bank has agreed, in lieu of maintaining separate loan accounts on Bank’s books in the name of each of the Borrowers, that Bank may maintain a single loan account under the name of all Borrowers (the “Loan Account”). All Loans shall be made jointly and severally to Borrowers and shall be charged to the Loan Account, together with all interest and other charges as permitted under and pursuant to the Loan Documents. The Loan Account shall be credited with all repayments of Obligations received by Bank, on behalf of Borrowers, from any Borrower pursuant to the terms of the Loan Documents.

Appears in 3 contracts

Samples: Credit Agreement (Winc, Inc.), Credit Agreement (Winc, Inc.), Credit Agreement (Winc, Inc.)

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Single Loan Account. At the request of Borrowers to facilitate and expedite the administration and accounting processes and procedures of the Loans and Borrowings, Bank Lender has agreed, in lieu of maintaining separate loan accounts on Bank’s Lender's books in the name of each of the Borrowers, that Bank Lender may maintain a single loan account under the name of all of both Borrowers (the "Loan Account"). All Loans shall be made jointly and severally to Borrowers and shall be charged to the Loan Account, together with all interest and other charges as permitted under and pursuant to the Loan Documentsthis Agreement. The Loan Account shall be credited with all repayments of Obligations received by BankLender, on behalf of Borrowers, from any either Borrower pursuant to the terms of the Loan Documentsthis Agreement.

Appears in 2 contracts

Samples: Business Financing Agreement, Business Financing Agreement (Selectica Inc)

Single Loan Account. At the request of Borrowers to facilitate and expedite the administration and accounting processes and procedures of the Loans and Borrowings, Bank has Agent and Lenders have agreed, in lieu of maintaining separate loan accounts on Bank’s Agent and Lenders' books in the name of each of the Borrowers, that Bank Agent and Lenders may maintain a single loan account under the name of all of both Borrowers (the "Loan Account"). All Loans shall be made jointly and severally to Borrowers and shall be charged to the Loan Account, together with all interest and other charges as permitted under and pursuant to the Loan Documentsthis Agreement. The Loan Account shall be credited with all repayments of Obligations received by BankAgent and Lenders, on behalf of Borrowers, from any either Borrower pursuant to the terms of the Loan Documentsthis Agreement.

Appears in 2 contracts

Samples: Revolving Credit Agreement (National Technical Systems Inc /Ca/), Revolving Credit Agreement (National Technical Systems Inc /Ca/)

Single Loan Account. At the request of Borrowers to facilitate and expedite the administration and accounting processes and procedures of the Loans and Borrowings, Bank has have agreed, in lieu of maintaining separate loan accounts on Bank’s 's books in the name of each of the Borrowers, that Bank may maintain a single loan account under the name of all of both Borrowers (the "Loan Account"). All Loans shall be made jointly and severally to Borrowers and shall be charged to the Loan Account, together with all interest and other charges as permitted under and pursuant to the Loan Documentsthis Agreement. The Loan Account shall be credited with all repayments of Obligations received by Bank, on behalf of Borrowers, from any either Borrower pursuant to the terms of the Loan Documentsthis Agreement.

Appears in 2 contracts

Samples: Revolving Credit Agreement (Deckers Outdoor Corp), Credit Agreement (Deckers Outdoor Corp)

Single Loan Account. At the request of Borrowers to facilitate and expedite the administration and accounting processes and procedures of the Loans and Borrowings, Bank has Agent and Lenders have agreed, in lieu of maintaining separate loan accounts on Bank’s Agent's and Lenders' books in the name of each of the Borrowers, that Bank Agent and Lenders may maintain a single loan account under the name of all Borrowers (the "Loan Account"). All Loans shall be made jointly and severally to Borrowers and shall be charged to the Loan Account, together with all interest and other charges as permitted under and pursuant to the Loan Documents. The Loan Account shall be credited with all repayments of Obligations received by BankAgent and Lenders, on behalf of Borrowers, from any Borrower pursuant to the terms of the Loan Documents.

Appears in 1 contract

Samples: Credit Agreement (Auxilio Inc)

Single Loan Account. At the request of Borrowers to facilitate and expedite the administration and accounting processes and procedures of the Loans and Borrowings, Bank has agreed, in lieu of maintaining separate loan accounts on Bank’s books in the name of each of the Borrowers, that Bank may maintain a single loan account under the name of all Borrowers (the “Loan Account”). All Loans shall be made jointly and severally to Borrowers and shall be charged to the Loan Account, together with all interest and other charges as permitted under and pursuant to the Loan Documentsthis Agreement. The Loan Account shall be credited with all repayments of Obligations received by Bank, on behalf of Borrowers, from any Borrower pursuant to the terms of the Loan Documentsthis Agreement.

Appears in 1 contract

Samples: Credit Agreement (Jakks Pacific Inc)

Single Loan Account. At the request of Borrowers to facilitate and expedite the administration and accounting processes and procedures of the Loans Advances and BorrowingsLetters of Credit, Bank Lender has agreed, in lieu of maintaining separate loan accounts on BankLender’s books in the name of each of the Borrowers, that Bank Lender may maintain a single loan account under the name of all Borrowers (the “Loan Account”). All Loans shall be made jointly and severally to Borrowers and shall be charged to the Loan Account, together with all interest and other charges as permitted under and pursuant to the Loan Documents. The Loan Account shall be credited with all repayments of Obligations received by BankLender, on behalf of Borrowers, from any Borrower pursuant to the terms of the Loan Documents.

Appears in 1 contract

Samples: Business Financing Agreement (Orion Energy Systems, Inc.)

Single Loan Account. At the request of Borrowers to facilitate and expedite the administration and accounting processes and procedures of the Loans and BorrowingsAdvances, Bank Lender has agreed, in lieu of maintaining separate loan accounts on BankLender’s books in the name of each of the Borrowers, that Bank Lender may maintain a single loan account under the name of all Borrowers (the “Loan Account”). All Loans shall be made jointly and severally to Borrowers and shall be charged to the Loan Account, together with all interest and other charges as permitted under and pursuant to the Loan Documentsrelated documents. The Loan Account shall be credited with all repayments of Obligations received by BankLender, on behalf of Borrowers, from any Borrower pursuant to the terms of the Loan Documentsrelated documents.

Appears in 1 contract

Samples: Business Financing Agreement (Digital Turbine, Inc.)

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Single Loan Account. At the request of Borrowers to facilitate and expedite the administration and accounting processes and procedures of the Loans and Borrowings, Bank has have agreed, in lieu of maintaining separate loan accounts on Bank’s books in the name of each of the Borrowers, that Bank may maintain a single loan account under the name of all Borrowers (the “Loan Account”). All Loans shall be made jointly and severally to Borrowers and shall be charged to the Loan Account, together with all interest and other charges as permitted under and pursuant to the Loan Documentsthis Agreement. The Loan Account shall be credited with all repayments of Obligations received by Bank, on behalf of Borrowers, from any either Borrower pursuant to the terms of the Loan Documentsthis Agreement.

Appears in 1 contract

Samples: Credit Agreement (Matrixx Initiatives Inc)

Single Loan Account. At the request of Borrowers to facilitate and expedite the administration and accounting processes and procedures of the Loans and BorrowingsCredit Facility, Bank Lender has agreed, in lieu of maintaining separate loan accounts on Bank’s Lender's books in the name of each of the Borrowers, that Bank Lender may maintain a single loan account under the name of all both Borrowers (the "Loan Account"). All Loans Advances or any other borrowings under the Credit Facility shall be made jointly and severally to Borrowers and shall be charged to the Loan Account, together with all interest and other charges as permitted under and pursuant to the Loan Documentsthis Agreement. The Loan Account shall be credited with all repayments of Obligations received by BankLender, on behalf of Borrowers, from any either Borrower pursuant to the terms of the Loan Documentsthis Agreement.

Appears in 1 contract

Samples: Credit and Security Agreement (Netlist Inc)

Single Loan Account. At the request of Borrowers to facilitate and expedite the administration and accounting processes and procedures of the Loans and Borrowings, Bank has have agreed, in lieu of maintaining separate loan accounts on Bank’s books in the name of each of the Borrowers, that Bank may maintain a single loan account under the name of all of both Borrowers (the “Loan Account”). All Loans shall be made jointly and severally to Borrowers and shall be charged to the Loan Account, together with all interest and other charges as permitted under and pursuant to the Loan Documentsthis Agreement. The Loan Account shall be credited with all repayments of Obligations received by Bank, on behalf of Borrowers, from any Borrower pursuant to the terms of the Loan Documentsthis Agreement.

Appears in 1 contract

Samples: Credit Agreement (Kingsway Financial Services Inc)

Single Loan Account. At the request of Borrowers to facilitate and expedite the administration and accounting processes and procedures of the Loans and Borrowings, Bank has have agreed, in lieu of maintaining separate loan accounts on Bank’s books in the name of each of the Borrowers, that Bank may maintain a single loan account under the name of all of both Borrowers (the “Loan Account”). All Loans shall be made jointly and severally to Borrowers and shall be charged to the Loan Account, together with all interest and other charges as permitted under and pursuant to the Loan Documentsthis Agreement. The Loan Account shall be credited with all repayments of Obligations received by Bank, on behalf of Borrowers, from any either Borrower pursuant to the terms of the Loan Documentsthis Agreement.

Appears in 1 contract

Samples: Credit Agreement (Deckers Outdoor Corp)

Single Loan Account. At the request of Borrowers to facilitate and expedite the administration and accounting processes and procedures of the Loans and Borrowings, Bank has have agreed, in lieu of maintaining separate loan accounts on Bank’s books in the name of each of the Borrowers, that Bank may maintain a single loan account under the name of all of both Borrowers (the “Loan Account”). All Loans shall be made jointly and severally to Borrowers and shall be charged to the Loan Account, together with all interest and other charges as permitted under and pursuant to the Loan Documentsthis Agreement. The Loan Account shall be credited with all repayments of Obligations received by Bank, on behalf of Borrowers, from any either Borrower pursuant to the terms of the Loan Documentsthis Agreement.

Appears in 1 contract

Samples: Business Financing Agreement (Sysorex Global Holdings Corp.)

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