Common use of Acceptance and Purchase Clause in Contracts

Acceptance and Purchase. Subject to the terms and conditions hereof, the Agent, on behalf of the Banks, agrees to accept and purchase Bankers' Acceptances drawn upon it by the Company denominated in Dollars. The Company shall notify the Agent by irrevocable written notice (each a "Bankers' Acceptance Notice") by 11:00 a.m. (Boston time) on the date of any borrowing by way of Bankers' Acceptances. Each borrowing by way of Bankers' Acceptances shall be in a minimum aggregate undiscounted face amount of $5,000,000 or an integral multiple of $1,000,000 in excess thereof. Each request for a Bankers' Acceptance shall constitute a representation and warranty by the Company that the conditions set forth in Section 12 and Section 13 have been satisfied on the date of the issuance of such Bankers' Acceptance. Each Bankers' Acceptance Notice shall be in the form of Exhibit D. In no event shall the aggregate face amount of all outstanding Bankers' Acceptances exceed the remainder of (a) the Total Commitment minus (b) the sum of (i) the Dollar Equivalent of the outstanding amount of all Revolving Credit Loans plus (ii) the Maximum Drawing Amount and all Unpaid Reimbursement Obligations.

Acceptance and Purchase. Subject to the terms and conditions hereof, the Agent, on behalf of the Banks, agrees to accept and purchase Bankers' Acceptances drawn upon it by the Company Borrower denominated in Dollars. The Company Borrower shall notify the Agent by irrevocable written notice (each a "Bankers' Acceptance Notice") by 11:00 a.m. (Boston time) on the date of any borrowing by way of Bankers' Acceptances. Each borrowing by way of Bankers' Acceptances shall be in a minimum aggregate undiscounted face amount of $5,000,000 or an integral multiple of $1,000,000 in excess thereof. Each request for a Bankers' Acceptance shall constitute a representation and warranty by the Company Borrower that the conditions set forth in Section 12 11 and Section 13 12 have been satisfied on the date of the issuance of such Bankers' Acceptance. Each Bankers' Acceptance Notice shall be in the form of Exhibit D. C. In no event shall the aggregate face amount of all outstanding Bankers' Acceptances exceed the remainder of (a) the Total Commitment minus (b) the sum of (i) the Dollar Equivalent of the outstanding amount mount of all Revolving Credit Loans plus (ii) the Maximum Drawing Amount and all Unpaid Reimbursement Obligations.