Streamline Provisions Clause Samples

Streamline Provisions. If at the date the Asset Based Terms go into effect there are no Revolving Loans or Equipment Loans outstanding, then the following provisions (the “Streamline Provisions”) shall apply: (1) Borrower will not be required to provide Silicon with weekly reporting of transactions and schedules of Accounts and collections (as called for by Section 8(a)(1) of this Schedule). Borrower shall, however, provide Silicon with monthly transaction reports including sales, collections and memo journals for each month within 15 days after the end of each month. (2) During the Streamline Period, no Loans will be made. (3) Notwithstanding the fact that no Loans will be outstanding during the Streamline Period, the Unused Line Fee shall be effective during the Streamline Period.
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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.
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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.
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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.
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Related to Streamline Provisions

  • Protective Provisions In addition to any vote required by the General Corporation Law, other applicable law, the Certificate of Incorporation, or this Certificate of Designations, for so long as any of the shares of Series A Preferred Stock shall remain outstanding, the Corporation shall not, either directly or indirectly by amendment, merger, consolidation or otherwise, take any of the following actions, including whether by merger, consolidation or otherwise, without (in addition to any other vote required by the General Corporation Law, other applicable law, the Certificate of Incorporation, or this Certificate of Designations), the written consent or affirmative vote of the Holders of at least a majority of the then outstanding shares of Series A Preferred Stock voting as a separate class to: (i) authorize, create, or increase the authorized amount of, or issue any class or series of Senior Stock, or reclassify or amend the provisions of any existing class of securities of the Corporation into shares of Senior Stock; (ii) authorize, create or issue any stock or debt instrument or other obligation that is convertible or exchangeable into shares of its Senior Stock (or that is accompanied by options or warrants to purchase such Senior Stock); (iii) amend, alter or repeal any provision of the Certificate of Incorporation or this Certificate of Designations, in either case, in a manner that materially adversely affects the special rights, preferences, privileges or voting powers of the Series A Preferred Stock; (iv) declare or pay any dividends or other distributions in cash or property with respect to its Common Stock or other Junior Stock; (v) redeem, repurchase or acquire shares of its Common Stock or other Junior Stock (other than with respect to customary repurchase rights or tax withholding arrangements with respect to equity awards or benefit plans); or (vi) redeem, repurchase, recapitalize or acquire shares of its Parity Stock other than (A) pro rata offers to purchase all, or a pro rata portion, of the Series A Preferred Stock and such Parity Stock, (B) as a result of a reclassification of Parity Stock for or into other Parity Stock or Junior Stock, (C) the exchange or conversion of Parity Stock for or into other Parity Stock or Junior Stock or (D) the purchase of fractional interests in shares of Parity Stock pursuant to the conversion or exchange provisions of such Parity Stock or the security being converted or exchanged.

  • EEO Provisions During the performance of this Contract the Contractor agrees as follows: (1) The Contractor shall not discriminate against any employee or applicant for employment because of race, color, religion, sex, national origin, political affiliation or belief, age, or handicap. The Contractor shall take affirmative action to insure that applicants are employed and that employees are treated equally during employment, without regard to race, color, religion, sex, national origin, political affiliation or belief, age, or handicap. Such action shall include but not be limited to the following: employment, upgrading, demotion, transfer, recruitment or advertising, layoff or termination, rates of pay or other forms of compensation, and selection for training, including apprenticeship. The Contractor shall post in conspicuous places, available to employees and applicants for employment, notices setting forth these EEO provisions. (2) The Contractor shall in all solicitations or advertisement for employees placed by or on behalf of the Contractor, state that all qualified applicants will receive consideration for employment without regard to race, color, religion, sex, national origin, political affiliation or belief, age, or handicap. (3) The Contractor shall send a copy of the EEO provisions to each labor union or representative of workers with which it has a collective bargaining agreement or other contract or understanding. (4) In the event of the Contractor's noncompliance with these EEO provisions, the City may cancel, terminate, or suspend this contract, in whole or in part, and the City may declare the Contractor ineligible for further City contracts. (5) Unless exempted by the City Council of the City of Durham, the Contractor shall include these EEO provisions in every purchase order for goods to be used in performing this contract and in every subcontract related to this contract so that these EEO provisions will be binding upon such subcontractors and vendors.

  • Administrative Provisions (a) Replies to grievances at Step 2 of the grievance procedure and notification to arbitrate shall be by certified mail, courier or by facsimile. (b) Grievances, replies, and notification shall be deemed to have been presented on the date on which they were verifiably transmitted, and received on the date they were delivered to the appropriate office of the Employer or the Union.

  • Leave Provisions The benefits which are expressly provided by this section, Article 10.0, are the sole benefits which are part of this collective Agreement, and it is agreed that other statutory or regulatory leave benefits are not incorporated, either directly or implicitly, into this Agreement, nor are such other benefits subject to the grievance procedure, Article 20. All leave provisions are subject to verification.

  • Mortgage Provisions The Mortgage Loan documents for each Mortgage Loan, together with applicable state law, contain provisions that render the rights and remedies of the holder thereof adequate for the practical realization against the Mortgaged Property of the principal benefits of the security intended to be provided thereby, including realization by judicial or, if applicable, non-judicial foreclosure subject to the limitations set forth in the Standard Qualifications.