IBM Credit as defined in the caption.

IBM Credit has earned stock representing a four percent (4%) ownership interest in Pulsar (the "IBM Credit Interest") on a fully diluted basis. At the option Xxxxxxx X. Xxxxx Xx. in lieu of a distribution of such Pulsar stock to IBM Credit, Pulsar shall pay to IBM Credit the lesser of (i) four percent (4%) of the sale price upon the sale of all or substantially all of Pulsar's asset; or (ii) $650,000.00 or (iii) a pro-rata share of $650,000.00 upon sale of less than all or substantially all of Pulsar's assets. For the purpose of example only should Pulsar sell twenty-five percent (25%) of its assets, pursuant to provision (iii) above, Pulsar would pay IBM Credit $162,500.00, it being an amount equal to twenty-five percent of $650,000.00."

Examples of IBM Credit in a sentence

No delay or omission of IBM Credit to exercise any right or remedy hereunder, whether before or after the occurrence of any Event of Default, shall impair any such right or remedy or shall operate as a waiver thereof or as a waiver of any such Event of Default.
All sums paid by IBM Credit in performing in satisfaction or on account of the foregoing and any expenses, including reasonable attorney's fees, court costs, and other charges relating thereto, shall be a part of the Obligations, payable on demand and secured by the Collateral.
IBM Credit may at any time adjust such statements of transaction or billing statements to comply with applicable law and this Agreement.
In addition, all Policies so maintained are to name IBM Credit as an additional insured as its interest may appear.
Such locations shall be certified quarterly to IBM Credit substantially in the form of Attachment G.

More Definitions of IBM Credit

IBM Credit s consent to the amendment set forth in Section 2 A of this Amendment shall immediately cease upon the occurrence of an Event of Default and all obligations of Pulsar to IBM Credit under the IWCF, the Agreement and otherwise shall, without notice or demand, become immediately due and payable.

IBM Credit as defined in the preamble hereto.

IBM Credit is defined in Recital A.

IBM Credit means IBM Credit Corporation and any successor or assign thereof under the IBM Credit Loan Agreement.

IBM Credit means IBM Credit Corporation, a Delaware corporation, with a place of business at 0000 Xxxxxxxxx Xxxxxxx, Xxxxx Xxxxx, Xxx Xxxxx, Xxxxxxxxxx 00000.

IBM Credit is defined in Recital A. "Indemnified Trustee Person(s)" is defined in Section 6.06.

IBM Credit its attorney-in-fact to execute and file all such writings for the foregoing purposes, all acts of such attorney being hereby ratified and confirmed, such power being coupled with an interest and irrevocable until the Obligations are paid in full and this Agreement is terminated. For the purposes of enabling IBM Credit to exercise its rights and remedies under this Agreement, Customer hereby grants to IBM Credit an irrevocable, non-exclusive license (exercisable without payment of royalty or other compensation to Customer) to use, assign, license or sublicense, following the occurrence of an Event of Default and the exercise by IBM Credit of its rights and remedies with respect thereto, any of the Collateral consisting of patents, trademarks, tradenames or copyrights now owned or hereafter acquired by Customer, wherever the same may be located, including in such license reasonable access to all media in which any of the licensed items may be recorded or stored and to all computer programs used for the compilation or printout thereof. Upon payment in full of all Obligations and termination of this Agreement, the license granted by Customer pursuant to the immediately preceding sentence shall be terminated.