AutoBorrow Service Agreement definition
Examples of AutoBorrow Service Agreement in a sentence
To the extent that any of the provisions of Section 1.2(a) through 1.2(f) hereof are inconsistent with provisions of the AutoBorrow Service Agreement, the provisions of the AutoBorrow Service Agreement shall govern.
Any Advances made to the Borrower under the AutoBorrow Service Agreement shall nonetheless be deemed to be an Advance hereunder, subject to all other terms hereof.
Any Advances made to the Borrowers under the AutoBorrow Service Agreement shall nonetheless be deemed to be an Advance hereunder, subject to all other terms hereof.
The Company hereby acknowledges and ---------------------------- agrees that the Bank, in its sole discretion, may, at any time, terminate the AutoBorrow Service Agreement, and take any and all actions necessary or advisable in connection with such termination.
The Company acknowledges and agrees that the Bank may make advances under the Revolving Credit Facility (i) upon receipt of a written or telephonic request therefor from any person the Bank reasonably believes to be an authorized representative of the Company, or (ii) pursuant to the terms of the automatic borrowing feature described in any AutoBorrow Service Agreement entered into by and between the Company and the Bank on or after the date hereof.
AutoBorrow Advances shall be made automatically in accordance with the terms of the AutoBorrow Service Agreement.
Any unutilized portion of the Revolving Commitment hereunder in excess of the Maximum Availability (as defined in and determined in accordance with the AutoBorrow Service Agreement) may be irrevocably reduced in whole or in part.
The fact that the balance hereunder may be reduced to zero from time to time pursuant to the Financing Agreement and also, for the AutoBorrow Advances (as defined in the Financing Agreement) only, under the AutoBorrow Service Agreement (as defined in the Financing Agreement), will not affect the continuing validity of this Note or the Financing Agreement, and the balance may be increased to the Principal Sum after any such reduction to zero.
Until an Event of Default exists or occurs, the Lender, on each Business Day, or if an AutoBorrow Service Agreement is then in effect, on each Autoborrow Business Day, will apply all finally collected funds on deposit to the Collection Account to the unpaid principal amount of Advances then outstanding.
The Borrower has executed and delivered to Bank of America, N.A. an AutoBorrow Service Agreement dated on or about May 2, 2008 (as the same may be amended or otherwise modified from time to time the “Service Agreement”) providing for, among other things, a linkage between the line of credit evidenced by this Agreement and the Borrower’s demand deposit account with the Lender.