Common use of Procedure for Loans Clause in Contracts

Procedure for Loans. Company may by written notice request a borrowing of Loans prior to 12:00 p.m. (New York time) on the Business Day of its request to incur, on the next business day, a Loan. Together with each request for a Loan (or at such other intervals as Laurus may request), Company shall deliver to Laurus a Borrowing Base Certificate in the form of Exhibit A, which shall be certified as true and correct by the Chief Executive Officer or Chief Financial Officer of Company together with all supporting documentation relating thereto. All Loans shall be disbursed from whichever office or other place Laurus may designate from time to time and shall be charged to Company's account on Laurus' books. The proceeds of each Loan made by Laurus shall be made available to Company on the Business Day following the Business Day so requested in accordance with the terms of this Section 4 by way of credit to Company's operating account maintained with such bank as Company designated to Laurus. Any and all Obligations due and owing hereunder may be charged to Company's account and shall constitute Loans.

Appears in 6 contracts

Sources: Security Agreement (Gvi Security Solutions Inc), Security Agreement (Transgenomic Inc), Security Agreement (Greenman Technologies Inc)

Procedure for Loans. Company may by written notice request a borrowing of Loans prior to 12:00 p.m. (New York time) on the Business Day of its request to incur, on the next business day, a Loan. Together with each request for a Loan (or at such other intervals as Laurus may request), Company shall deliver to Laurus a Borrowing Base Certificate in the form of Exhibit A, which shall be certified as true and correct by the Chief Executive Officer or Chief Financial Officer of Company together with all supporting documentation relating thereto. All Loans shall be disbursed from whichever office or other place Laurus may designate from time to time and shall be charged to Company's ’s account on Laurus' books. The proceeds of each Loan made by Laurus shall be made available to Company on the Business Day following the Business Day so requested in accordance with the terms of this Section 4 by way of credit to Company's ’s operating account maintained with such bank as Company designated to Laurus. Any and all Obligations due and owing hereunder may be charged to Company's ’s account and shall constitute Loans.

Appears in 2 contracts

Sources: Security Agreement (Gvi Security Solutions Inc), Security Agreement (Comc Inc)

Procedure for Loans. Company may by written notice request a borrowing of Loans prior to 12:00 p.m. (New York time) on the Business Day of its request to incur, on the next business day, a Loan. Together with each request for a Loan (or at such other intervals as Laurus may request), Company shall deliver to Laurus a Borrowing Base Certificate substantially in the form of Exhibit A, which shall be certified as true and correct by the Chief Executive Officer or Chief Financial Officer of Company together with all supporting documentation relating thereto. All Loans shall be disbursed from whichever office or other place Laurus may designate from time to time and shall be charged to Company's account on Laurus' books. The proceeds of each Loan made by Laurus shall be made available to Company on the Business Day following the Business Day so requested in accordance with the terms of this Section 4 by way of credit to Company's operating account maintained with such bank as Company designated to Laurus. Any and all Obligations due and owing hereunder may be charged to Company's account and shall constitute Loans.

Appears in 2 contracts

Sources: Loan Agreement (Creative Vistas Inc), Loan Agreement (Creative Vistas Inc)

Procedure for Loans. The Company may by written notice request a borrowing of Loans prior to 12:00 p.m. noon (New York time) on the Business Day of its request to incur, on the next business dayBusiness Day, a Loan. Together with each request for a Loan (or at such other intervals as Laurus may request), Company shall deliver to Laurus a Borrowing Base Certificate in the form of Exhibit A"C" attached hereto, which shall be certified as true and correct by the Chief Executive Officer or Chief Financial Officer of Company together with all supporting documentation relating thereto. All Loans shall be disbursed from whichever office or other place Laurus may designate from time to time and shall be charged to the Company's account on Laurus' books. The proceeds of each Loan made by Laurus shall be made available to the Company on the Business Day following the Business Day so requested in accordance with the terms of this Section 4 6 by way of credit to the applicable Company's operating account maintained with such bank as the Company designated to Laurus. Any and all Obligations due and owing hereunder may be charged to the Company's account and shall constitute Loans.

Appears in 1 contract

Sources: Security and Purchase Agreement (Reliant Home Warranty Corp)

Procedure for Loans. The Company may by written notice request a borrowing of Loans prior to 12:00 p.m. noon (New York time) on the Business Day of its request to incur, on the next business dayBusiness Day, a Loan. Together with each request for a Loan (or at such other intervals as Laurus may request), Company shall deliver to Laurus a Borrowing Base Certificate in the form of Exhibit AD attached hereto, which shall be certified as true and correct by the Chief Executive Officer or Chief Financial Officer of Company together with all supporting documentation relating thereto. All Loans shall be disbursed from whichever office or other place Laurus may designate from time to time and shall be charged to the Company's account on Laurus' books. The proceeds of each Loan made by Laurus shall be made available to the Company on the Business Day following the Business Day so requested in accordance with the terms of this Section 4 6 by way of credit to the applicable Company's operating account maintained with such bank as the Company designated to Laurus. Any and all Obligations due and owing hereunder may be charged to the Company's account and shall constitute Loans.

Appears in 1 contract

Sources: Security and Purchase Agreement (Essential Innovations Technology Corp)

Procedure for Loans. Company may by written notice request a borrowing of Loans prior to 12:00 p.m. p.m.. (New York time) on the Business Day of its request to incur, on the next business day, a Loan. Together with each request for a Loan (or at such other intervals as Laurus may request), Company shall deliver to Laurus a Borrowing Base Certificate in the form of Exhibit A, which shall be certified as true and correct by the Chief Executive Officer or Chief Financial Officer of Company together with all supporting documentation relating thereto. All Loans shall be disbursed from whichever office or other place Laurus may designate from time to time and shall be charged to Company's account on Laurus' books. The proceeds of each Loan made by Laurus shall be made available to Company on the Business Day following the Business Day so requested in accordance with the terms of this Section 4 by way of credit to Company's operating account maintained with such bank as Company designated to Laurus. Any and all Obligations due and owing hereunder may be charged to Company's account and shall constitute Loans.

Appears in 1 contract

Sources: Security Agreement (Home Solutions of America Inc)

Procedure for Loans. Company may by written notice request a borrowing of Loans prior to 12:00 p.m. p.m.. (New York time) on the Business Day of its request to incur, on the next business day, a Loan. Together with each request for a Loan (or at such other intervals as Laurus may request), Company shall deliver to Laurus a Borrowing Base Certificate in the form of Exhibit A, which shall be certified as true and correct by the Chief Executive Officer or Officer, Chief Financial Officer or the Controller of Company together with all supporting documentation relating thereto. All Loans shall be disbursed from whichever office or other place Laurus may designate from time to time and shall be charged to Company's ’s account on Laurus' books. The proceeds of each Loan made by Laurus shall be made available to Company on the Business Day following the Business Day so requested in accordance with the terms of this Section 4 by way of credit to Company's ’s operating account maintained with such bank as Company designated to Laurus. Any and all Obligations due and owing hereunder may be charged to Company's ’s account and shall constitute Loans.

Appears in 1 contract

Sources: Security Agreement (Micro Component Technology Inc)

Procedure for Loans. Company may by written notice request a borrowing of Loans prior to 12:00 p.m. (New York time) on the Business Day of its request to incur, on the next business day, a Loan. Together with each request for a Loan (or at such other intervals as Laurus may request), Company shall deliver to Laurus a Borrowing Base Certificate borrowing base certificate in the form of Exhibit A, which shall be certified as true and correct by the Chief Executive Officer or Chief Financial Officer of Company together with all supporting documentation relating thereto. All Loans shall be disbursed from whichever office or other place Laurus may designate from time to time and shall be charged to Company's account on Laurus' books. The proceeds of each Loan made by Laurus shall be made available to Company on the Business Day following the Business Day so requested in accordance with the terms of this Section 4 by way of credit to Company's operating account maintained with such bank as Company designated to Laurus. Any and all Obligations due and owing hereunder may be charged to Company's account and shall constitute Loans.

Appears in 1 contract

Sources: Loan Agreement (Ventures National Inc)

Procedure for Loans. Company may by written notice request a borrowing of Loans prior to 12:00 p.m. (New York time) on the Business Day of its request to incur, on the next business dayBusiness Day, a Loan. Together with each request for a Loan (or at such other intervals as Laurus may request), Company shall deliver to Laurus a Borrowing Base Certificate in the form of Exhibit A, which shall be certified as true and correct by the Chief Executive Officer or Chief Financial Officer of Company together with all supporting documentation relating thereto. All Loans shall be disbursed from whichever office or other place Laurus may designate from time to time and shall be charged to Company's account on Laurus' books. The proceeds of each Loan made by Laurus shall be made available to Company on the Business Day following the Business Day so requested in accordance with the terms of this Section 4 by way of credit to Company's operating account maintained with such bank as Company designated may designate from time to time to Laurus. Any and all Obligations due and owing hereunder may be charged to Company's account and shall constitute Loans.

Appears in 1 contract

Sources: Security Agreement (Digital Lifestyles Group Inc)

Procedure for Loans. Company may by written notice request a borrowing of Loans prior to 12:00 p.m. (New York time) on the Business Day of its request to incur, on the next business dayBusiness Day, a Loan. Together with each request for a Loan (or at such other intervals as Laurus may request), Company shall deliver to Laurus a Borrowing Base Certificate in the form of Exhibit A, which shall be certified as true and correct by the Chief Executive Officer or Chief Financial Officer of Company together with all supporting documentation relating thereto. All Loans shall be disbursed from whichever office or other place Laurus may designate from time to time and shall be charged to Company's ’s account on Laurus' books. The proceeds of each Loan made by Laurus shall be made available to Company on the Business Day following the Business Day so requested in accordance with the terms of this Section 4 by way of credit to Company's ’s operating account maintained with such bank as Company designated may designate from time to time to Laurus. Any and all Obligations due and owing hereunder may be charged to Company's ’s account and shall constitute Loans.

Appears in 1 contract

Sources: Security Agreement (Digital Lifestyles Group Inc)

Procedure for Loans. Company may by written notice request a borrowing of Loans prior to 12:00 3:00 p.m. (New York time) on the Business Day of its request to incur, on the next business that day, a Loan. Together with each request for a Loan (or at such other intervals as Laurus may request), Company shall deliver to Laurus a Borrowing Base Certificate in the form of Exhibit A, which shall be certified as true and correct by the Chief Executive Officer or Chief Financial Officer of Company together with all supporting documentation relating thereto. All Loans shall be disbursed from whichever office or other place Laurus may designate from time to time and shall be charged to Company's ’s account on Laurus' books. The proceeds of each Loan made by Laurus shall be made available to Company on the Business Day following the Business Day so requested in accordance with the terms of this Section 4 by way of credit to Company's ’s operating account maintained with such bank as Company designated to Laurus. Any and all Obligations due and owing hereunder may be charged to Company's ’s account and shall constitute Loans.

Appears in 1 contract

Sources: Security Agreement (Electric City Corp)