Cancellation of Loans Sample Clauses

Cancellation of Loans. Simultaneously with the execution of this Agreement, and conditioned upon cancellation of the CopyTele Sub Loan, the Mars Overseas Loan shall be deemed to be cancelled in full (the “Mars Overseas Loan Cancellation”). Simultaneously with the execution of this Agreement, and conditioned upon the cancellation of the Mars Overseas Loan, the CopyTele Sub Loan shall be deemed to be cancelled in full (the “CopyTele Sub Loan Cancellation” and together with the Mars Overseas Loan. Cancellation, the “Loan Cancellations”).
Sample 1Sample 2
AutoNDA by SimpleDocs
Cancellation of Loans. The Agent shall have received evidence satisfactory to the Agent that all existing loans with any of the Banks shall have been terminated or canceled and all amounts outstanding thereunder or otherwise payable pursuant thereto shall have been paid.
Sample 1Sample 2
Cancellation of Loans. In the event of a recipient's death or total and permanent disability, the recipient's unpaid indebtedness shall be fully canceled.
Sample 1
Cancellation of Loans. A portion of the Purchase Price equal to the Loans owed to Buyer at the Closing shall be paid by Buyer's cancellation of the Loans at the Closing; and
Sample 1
Cancellation of Loans. As consideration for the Debenture, Visionary agrees to forgive, cancel, and otherwise surrender the Notes and the Accrued Interest, and Visionary further agrees to take all actions reasonably requested by the Company in furtherance of the foregoing, including, without limitation, the physical surrender of all Notes to the Company. Upon issuance of the duly-executed Debenture, Visionary represents and agrees it will have no further rights with respect to the Notes or the Accrued Interest, and its exclusive rights will thereafter be limited to and contained in the Debenture.
Sample 1
Cancellation of Loans. Notwithstanding any provision in this Agreement or the other Credit Documents, (a) if the Sponsor Purchases are contributed by any Sponsor Affiliated Lender as an equity contribution to Holdings and Borrower pursuant to and to the extent provided in the definition of “Contributions”, then promptly following such Contributions, any Loans that are the subject of such Contributions shall be forgiven by Sponsor, Holdings and Borrower, as applicable, and shall be cancelled and no longer outstanding (and may not be resold by Borrower), for all purposes of this Agreement and all other Credit Documents, including, but not limited to (A) the making of, or the application of, any payments to the Lenders under this 44 Agreement or any other Credit Document, (B) the making of any request, demand, authorization, direction, notice, consent or waiver under this Agreement or any other Credit Document or (C) the determination of Required Lenders, or for any similar or related purpose, under this Agreement or any other Credit Document; (b) immediately following the consummation of a Borrower Purchase, any Loans that are the subject of such Borrower Purchase shall be forgiven by Borrower and shall be cancelled and no longer outstanding (and may not be resold by Borrower), for all purposes of this Agreement and all other Credit Documents, including, but not limited to (A) the making of, or the application of, any payments to the Lenders under this Agreement or any other Credit Document, (B) the making of any request, demand, authorization, direction, notice, consent or waiver under this Agreement or any other Credit Document or (C) the determination of Required Lenders, or for any similar or related purpose, under this Agreement or any other Credit Document; and (c) the parties hereto hereby agree that any Contribution or Borrower Purchase will not be a voluntary prepayment by Borrower for any purpose under this Agreement and the other Credit Documents, including, without limitation, the application of Section 5.3(a) and Section 14.8(a).
Sample 1
Cancellation of Loans. 42 SECTION 7 CONDITIONS TO OBLIGATIONS OF THE PURCHASER................................................... 42
Sample 1
AutoNDA by SimpleDocs
Cancellation of Loans. The Purchaser or Parent shall cause the Company to terminate and cancel, and discharge Xxxx XXXX and Xxxxxx DU from, any outstanding loans owed by either of them respectively to the Company upon the completion under the Equity Transfer Agreements.
Sample 1

Related to Cancellation of Loans

  • Termination of Loans In addition to BTC’s authority to terminate a loan of Securities pursuant to the terms of the applicable Securities Lending Agreement as described in Section 2.4 above, BTC shall terminate any Securities loan to a Borrower in accordance with the applicable Securities Lending Agreement promptly:

  • Acceleration of Loans Declare the unpaid principal of and any accrued interest in respect of all Loans, any reimbursement obligations arising from drawings under Letters of Credit and any and all other indebtedness or obligations of any and every kind owing by a Credit Party to any of the Lenders hereunder to be due whereupon the same shall be immediately due and payable without presentment, demand, protest or other notice of any kind, all of which are hereby waived by the Credit Parties.

  • Cancellation of Notes Any Person that receives a Note surrendered for payment, registration of transfer, exchange or redemption will deliver the Note to the Indenture Trustee and the Indenture Trustee will promptly cancel it. The Issuer may surrender to the Indenture Trustee for cancellation Notes previously authenticated and delivered under this Indenture which the Issuer may have acquired, and the Indenture Trustee will promptly cancel them. No Notes will be authenticated in place of or in exchange for Notes cancelled as stated in this Section 2.10. The Indenture Trustee may hold or dispose of cancelled Notes according to its standard retention or disposal policy unless the Issuer directs, by Issuer Order, that they be destroyed or returned to it.

  • Cancellation of Commitments The Commitments in respect of any Tranche which are unutilised at the end of the Availability Period for such Tranche shall then be cancelled.

  • Cancellation of Commitment The Commitments which, at that time, are unutilised shall be immediately cancelled at the end of the Availability Period.

  • Conversion of Loans Borrower may convert any Loan from one Type of Loan to another Type; provided, however, that (i) any conversion of LIBOR Loans into Base Rate Loans shall be made on, and only on, the first day after the last day of an Interest Period for such LIBOR Loans, and (ii) Loans shall be converted only in amounts of $10,000,000 and increments of $1,000,000 in excess thereof. Borrower shall request such a conversion by a written notice to Administrative Agent in the form of Exhibit C-2, appropriately completed (a “Notice of Conversion of Loan Type”), which specifies:

  • Cancellation of Agreement In the event that prior to the Closing Date (a) trading in securities on the New York Stock Exchange generally, or in securities of the Bank in particular, shall have been suspended, or minimum prices established by the New York Stock Exchange, or any new restrictions on transactions in securities shall have been established by the New York Stock Exchange or by the Commission or by any other United States Federal or State agency or by any action of the United States Congress or by executive order to such a degree as, in your judgment as the Representatives, to affect materially and adversely the marketing of the Securities or (b) existing financial, political or economic conditions in Europe, the United States or elsewhere shall have undergone any change which, in your judgment as the Representatives, would materially and adversely affect the market for the Securities, this Agreement and all obligations of the Underwriters hereunder may be canceled at, or at any time prior to, the Closing Date by you, as the Representatives, without liability on the part of any Underwriter to the Bank or of the Bank to any Underwriter, subject to Section 11(e). Notice of such cancellation shall be given to the Bank in writing, or by cable or telephone confirmed in writing.

  • Cancellation of Warrants In the event the Company shall purchase or otherwise acquire Warrants, the same shall thereupon be cancelled and retired. The warrant agent (if so appointed) shall cancel any Warrant surrendered for exchange, substitution, transfer or exercise in whole or in part.

  • Cancellation of Converted Notes All Notes delivered for conversion shall be delivered to the Trustee to be canceled by or at the direction of the Trustee, which shall dispose of the same as provided in Section 2.10.

  • Cancellation of Debt The Borrower shall not cancel any claim or debt owing to it, except for reasonable consideration or in the ordinary course of business.

Time is Money Join Law Insider Premium to draft better contracts faster.