Streamline Provisions Clause Samples

Streamline Provisions. (1) Borrower may, at its option, elect not to have any Loans or Letters of Credit outstanding, except as provided for below, for specified periods of time (the “Streamline Periods”). At least 10 days prior to putting a Streamline Period into effect, Borrower will give Silicon written notice thereof, specifying the date the Streamline Period is to start. (2) In order for a Streamline Period to go into effect, and at all times during the Streamline Period, no Revolving Loans may be outstanding or made, no Letters of Credit may be outstanding, the combined amount of the required FX Reserves and Cash Management Reserves may not exceed $250,000 and the amount of Obligations outstanding with respect to the Term Loans may not exceed $500,000. (3) During the Streamline Period, provided no Event of Default has occurred and is continuing, Borrower will not be required to provide Silicon with weekly reporting of transactions, weekly schedules of Accounts or schedules of collections (as called for by Section 4.3 of this Agreement). (4) Provided no Default or Event of Default has occurred and is continuing, Borrower may, at its option, terminate the Streamline Period, so that Borrower can thereafter request Loans and Letters of Credit under this Agreement, by giving Silicon written notice at least 30 days before the Streamline Period is to terminate, together with such information relating to the Accounts and other Collateral as Silicon shall specify. (5) Upon Borrower giving notice that it wishes to terminate the Streamline Period, and thereafter, Borrower will, provide Silicon with the (at a minimum) weekly reporting of transactions and related schedules and assignments of Accounts and schedules of collections, as called for by Section 4.3 of this Agreement. (6) During the Streamline Period, Borrower shall provide a borrowing base certificate, accounts receivable aging, accounts payable aging and reconciliation to Silicon, on a monthly basis, all in such form as Silicon shall specify, within 30 days after the end of each month.

Streamline Provisions. SILICON VALLEY BANK SCHEDULE TO LOAN AND SECURITY AGREEMENT (a) The Streamline Provisions below shall be applicable if and so long as Borrower meets the following requirements (the "Streamline Requirements"): As of the end of the most recent month Borrower had Available Cash of not less than $20,000,000. (b) The Streamline Provisions are as follows: (i) Borrower will not be required to provide Silicon with weekly transaction reports and schedules of collections as provided in Section 6(1) of this Schedule (but Borrower shall provide a transaction report to Silicon with each request for a Revolving Loan); and (ii) Borrower will not be required to deliver to Silicon the proceeds of Accounts, as received by Borrower, as called for by Section 4.4 of this Loan Agreement to be applied to the Obligations; and (c) If at any time the Streamline Requirements are not met, the Streamline Provisions shall immediately cease to be applicable, and thereafter Borrower will provide Silicon with weekly transaction reports and schedules of collections as provided in Section 6(1) of this Schedule, and Borrower will deliver to Silicon the proceeds of Accounts, as received by Borrower, as called for by Section 4.4 of this Loan Agreement. (d) Notwithstanding the foregoing, and without limiting its other rights and remedies, if any Default or Event of Default has occurred and is continuing, Silicon may terminate the Streamline Provisions.

Streamline Provisions. So long as no Default or Event of Default has occurred and is continuing and the Zero Loan Balance Condition (as defined below) is satisfied, the following provisions in this Section 9 of this Schedule (collectively, the “Streamline Provisions”) shall be in effect notwithstanding anything herein to the contrary: (1) (a) Delivery of the items set forth in Item #1 of Section 6 of this Schedule will not be required more frequently than on a monthly basis; and (b) delivery of the items set forth in Items #4 and #5 of Section 6 of this Schedule will not be required with respect to any month during which at all times the Streamline Provisions are in effect. (2) Silicon will not request, pursuant to Section 4.3 of this Agreement, copies of credit memos (if at all) more frequently than on a monthly basis. (3) Borrower shall not be required to deliver payments on, and proceeds of, Accounts to Silicon upon receipt as required by Section 4.4 of this Agreement. (4) So long as the Zero Loan Balance Condition is satisfied, Borrower shall provide Silicon with at least 30 days’ prior written notice of Borrower’s desire to have Silicon make any future Loan or other extension of credit to Borrower. Prior to Silicon making such Loans or other extensions of credit, if any, Silicon shall have received the results, satisfactory to Silicon in its good faith business judgment, of an audit as provided for in Section 5.4 of this Agreement. Upon (y) the Zero Loan Balance Condition not being satisfied, or (z) the occurrence and during the continuation of a Default or Event of Default under the Loan Documents, all of the terms and conditions of this Agreement that have been modified by this Section 9 of this Schedule will immediately revert to the standard terms and conditions as provided for in this Agreement (without giving effect to this Section 9 of this Schedule — but, if applicable, subject to paragraph (4) of this Section 9 of this Schedule with respect to the Zero Loan Balance Condition) without any further action on the part of Silicon or Borrower.