WRITING CHECKS.The Bank willissue checksto the Borrowerat no cost. The Borrower mayborrow moneyunderthe Line(up tothe Credit Limitremaining available) by writing checks. The Borrower agrees not to write checks i
Withdrawal of Loan Proceeds Except as ADB may otherwise agree, the following provisions of this Schedule shall apply to the withdrawal of Loan proceeds from the Loan Account. Notice and Manner of Borrowing (a) Whenever the Borrowing Company desires to borrow money hereunder, it shall give the ...
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The obligation of the Bank to make the initial extension of credit hereunder is subject to the conditions precedent that the Bank shall have received before the date of such extension of credit all of the following, in form and substance satisfactory, to the Bank: A. AUTHORITY TO BORROW. ...
If the Company agrees to borrow funds --- from a lender, any Shareholder giving a guarantee to the lender may, if required by the lender, mortgage or otherwise encumber its Investment or any part thereof in favour of such <PAGE> lender as security for the loan but only if such lender ...
He thought that these people didn't really want to give their money away, that they only made these donations because they couldn’t take the money with them after death! So he had some very strong views about this. And he followed through on his beliefs! Because by the time he died ...
Meanwhile, CFO Lynn Anderson entered into a 3-year revolving credit facil- ity with the potential to borrow up to $75m from a group of lenders, providing a welcome liquidity cushion. Through the first three quarters of the year, Broadwing consumed only $19m in net cash for operations as...
3. The directors may exercise all the powers of the Company to borrow money and to mortgage or charge its undertakings, property and uncalled capital or any part thereof, to issue debentures, debenture stock and other securities whenever money is borrowed or as security for any debt, liability...
Clearly, interest rates are important to everybody because they underlie what businesses of all types—small and large—must pay to borrow money. Please visit us at essentialsofcorporatefinance.blogspot.com for the latest developments in the world of corporate finance. Our goal in this chapter is...
(a) The Directors may exercise all the powers of the Company to borrow money and to mortgage or charge all or any part of the undertaking, property and assets (present and future) and uncalled capital of the Company and to issue debentures, debenture stocks, bonds and other securities, whet...