Common use of Structure of Credit Facility Clause in Contracts

Structure of Credit Facility. Each Borrower agrees and acknowledges that the present structure of the credit facility detailed in this Agreement is based in part upon the financial and other information presently known to Agent and Lenders regarding each Borrower, the organizational structure of Borrowers, and the present financial condition of each Borrower. Each Borrower hereby agrees that upon the occurrence of a Default, Agent shall have the right, in its sole credit judgment, to require that any or all of the following changes be made to this credit facility: (i) establish a separate "borrowing base" for each Borrower, (ii) advance a Revolving Credit Loan specifically to a specific Borrower, based on such Borrower's availability under its own "borrowing base", (iii) restrict loans and advances between Borrowers, (iv) establish separate lockbox and dominion accounts for each Borrower, and (v) establish such other procedures as shall be reasonably deemed by Agent to be useful in tracking where Loans are made under this Agreement and the source of payments received by Agent on such Loans."

Structure of Credit Facility. Each Borrower agrees and acknowledges that the present structure of the credit facility detailed in this Agreement is based in part upon the financial and other information presently known to Agent and Lenders regarding each Borrower, the organizational structure of Borrowers, and the present financial condition of each Borrower. Each Borrower hereby agrees that upon the occurrence of a Default, Agent Lender shall have the right, in its sole credit judgmentdiscretion, to require that do any or all of the following changes be made to in connection with the credit facility established by this credit facilityAgreement: (i) establish a separate "“borrowing base" ” for each Borrower, (ii) advance a Revolving Credit Loan specifically to a specific Borrower, based on such Borrower's ’s availability under its own "“borrowing base"”, (iii) restrict loans and advances between Borrowers, (iv) establish separate lockbox and dominion accounts for each Borrower, and (viv) establish such other procedures as shall be reasonably deemed by Agent Lender to be useful in tracking where Loans are made under this Agreement and the source of payments received by Agent Lender on such Loans. In addition to and not in limitation of the foregoing, Borrowers hereby agree and acknowledge that the present intention of Lender is to advance future Loans directly to such Borrower whose assets provide the Availability for such Loan to be used by such Borrower for its working capital and other purposes relevant to the normal conduct of such Borrower’s business."

Structure of Credit Facility. Each Borrower agrees and acknowledges that the present structure of the credit facility facilities detailed in this Agreement is based in part upon the financial and other information presently known to Agent and Lenders Lender regarding each Borrower, the organizational corporate structure of Borrowers, and the present financial condition of each Borrower. Each Borrower hereby agrees that upon the occurrence of a Default, Agent Lender shall have the right, in its sole credit judgmentdiscretion, at any time to require that any or all of the following changes be made to this these credit facilityfacilities: (i) establish a separate "borrowing base" for each Borrower, (ii) advance a Revolving Credit Loan specifically to a specific Borrower, based on such Borrower's availability under its own "borrowing base", ," (iii) restrict loans and advances between Borrowers, (iv) establish separate lockbox and dominion accounts for each Borrower, and (v) establish such other procedures as shall be reasonably deemed by Agent Lender to be useful in tracking where Loans are made under this Agreement and the source of payments received by Agent Lender on such Loans."

Structure of Credit Facility. Each Borrower agrees and acknowledges that the present structure of the credit facility facilities detailed in this Agreement is based in part upon the financial and other information presently known to Agent and Lenders Lender regarding each Borrower, the organizational corporate structure of Borrowers, and the present financial condition of each Borrower. Each Borrower hereby agrees that upon the occurrence of a Default, Agent Lender shall have the right, in its sole credit judgment, at any time to require that any or all of the following changes be made to this these credit facility: facilities: (i) establish a separate "borrowing base" for each Borrower, (ii) advance a Revolving Credit Loan specifically to a specific Borrower, based on such Borrower's availability under its own "borrowing base", (iii) restrict loans and advances between Borrowers, (iv) establish separate lockbox and dominion accounts for each Borrower, and (v) establish such other procedures as shall be reasonably deemed by Agent Lender to be useful in tracking where Loans are made under this Agreement and the source of payments received by Agent Lender on such Loans."