Payments in Kind. The proceeds of collections of the Borrower's accounts receivable, when received by the Bank in kind, shall be credited to interest, principal, and other sums owed to the Bank under this Agreement in the order and proportion determined by the Bank in its sole discretion. All such credits will be conditioned upon collection and any returned items may, at the Bank's option, be charged to the Borrower.
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Sources: Business Loan Agreement (Watsco Inc)
Payments in Kind. The proceeds of collections of the Borrower's Borrowers' accounts receivable, when received by the Bank in kind, shall be credited to interest, principal, and other sums owed to the Bank under this Agreement in the order and proportion determined by the Bank in its sole discretion. All such credits will be conditioned upon collection and any returned items may, at the Bank's option, be charged to the BorrowerBorrowers.
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Payments in Kind. The proceeds of collections of the Borrower's accounts receivable, when received by the Bank in kind, shall be credited to interest, principal, and other sums owed to the Bank under this Restated Credit Agreement in the order and proportion determined by the Bank in its sole discretion. All such credits will be conditioned upon collection and any returned items may, at the Bank's option, be charged to the Borrower.
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Sources: Credit Agreement (FFP Partners L P)
Payments in Kind. The proceeds of collections of the Borrower's accounts receivable, when received by the Bank in kind, shall be credited to interest, principal, and other sums owed to the Bank under this Agreement in the order and proportion determined by the Bank in its sole discretion. All such credits will be conditioned upon collection and any returned items may, at the Bank's option, be charged to the Borrower.
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