Common use of Effectiveness and Termination Clause in Contracts

Effectiveness and Termination. Subject to Agent’s right to accelerate the Loan and terminate the Revolving Loan Commitments and cease making and funding Advances upon the occurrence and during the continuation of any Event of Default, this Agreement shall continue in full force and effect until the earlier of the Maturity Date and the date on which the Revolving Loan Commitments are terminated pursuant to Section 2.5(b). All of the Obligations shall be immediately due and payable upon the earlier of (i) the Maturity Date, (ii) the date on which Agent accelerates the Loan following the occurrence and during the continuance of an Event of Default or (iii) the Prepayment Date stated in the notice of prepayment delivered by Borrower pursuant to Section 2.5(b), as applicable (the “Termination Date”). Notwithstanding any other provision of any Loan Document, no termination of this Agreement shall affect Agent’s or any Lender’s rights or any of the Obligations under the Loan Documents existing as of the effective date of such termination, and the provisions of the Loan Documents shall continue to be fully operative until the Obligations under the Loan Documents (other than indemnity obligations of Borrower under the Loan Documents that are not then due and payable or with respect to which no claim has been made) have been indefeasibly paid in cash in full. The Liens granted to Agent, under the Security Documents and the financing statements filed pursuant thereto and the rights and powers of Agent shall continue in full force and effect until all of the Obligations (other than indemnity obligations of Borrower under the Loan Documents that are not then due and payable or with respect to which no claim has been made) have been fully performed and indefeasibly paid in full in cash.

Effectiveness and Termination. Subject to Agent’s right to accelerate the Loan and terminate the Revolving Loan Commitments and cease making and funding Advances upon the occurrence and during the continuation of any Event of Default, this Agreement shall continue in full force and effect until the earlier of the Maturity Date and the date on which the Revolving Loan Commitments are terminated pursuant to Section 2.5(b). All of the Obligations shall be immediately due and payable upon the earlier of (i) the Maturity Date, (ii) the date on which Agent accelerates the Loan following the occurrence and during the continuance of an Event of Default or (iii) the Prepayment Date stated in the notice of prepayment delivered by Borrower pursuant to Section 2.5(b), as applicable (the “Termination Date”). Notwithstanding any other provision of any Loan Document, no termination of this Agreement shall affect Agent’s or any Lender’s rights or any of the Obligations under the Loan Documents existing as of the effective date of such termination, and the provisions of the Loan Documents shall continue to be fully operative until the Obligations under the Loan Documents (other than indemnity obligations of Borrower under the Loan Documents that are not then due and payable or with respect to which no claim has been made) have been indefeasibly paid in cash in full. The Liens granted to Agent, under the Security Documents and the financing statements filed pursuant thereto and the rights and powers of Agent shall continue in full force and effect until all of the Obligations (other than indemnity obligations of Borrower under the Loan Documents that are not then due and payable or with respect to which no claim has been made) have been fully performed and indefeasibly paid in full in cash.. Katapult SPV-1 LLC – Loan and Security Agreement

Effectiveness and Termination. (a) Subject to Agent’s Lender's right to accelerate the Loan and terminate the Revolving Loan Commitments and cease making and funding Advances Loans upon the occurrence and during the continuation of or after any Event of Default, this Agreement shall continue in full force and effect until the earlier full performance and indefeasible payment in cash of the Maturity Date all Obligations, unless terminated sooner as provided in this Section 11.1. Borrower may terminate this Agreement at any time upon not less than thirty (30) calendar days' prior written notice to Lender and the date upon full performance and indefeasible payment in full in cash of all Obligations on which the Revolving Loan Commitments are terminated pursuant or prior to Section 2.5(b)such 30th calendar day after Receipt by Lender of such written notice. All of the Obligations shall be immediately due and payable upon any such termination on the termination date stated in any notice of termination (the "Termination Date"); provided that, notwithstanding any other provision of any Loan Document, the Termination Date shall be effective no earlier than the first Business Day of (i) the Maturity Date, (ii) the date on which Agent accelerates the Loan month following the occurrence and during expiration of the continuance of an Event of Default or thirty (iii30) the Prepayment Date stated in the calendar days' prior written notice of prepayment delivered by Borrower pursuant to Section 2.5(b), as applicable (the “Termination Date”)period. Notwithstanding any other provision of any Loan Document, no termination of this Agreement shall affect Agent’s or any Lender’s 's rights or any of the Obligations under the Loan Documents existing as of the effective date of such termination, and the provisions of the Loan Documents shall continue to be fully operative until the Obligations under the Loan Documents (other than indemnity obligations of Borrower under the Loan Documents that are not then due and payable or with respect to which no claim has been made) have been fully performed and indefeasibly paid in cash in full. The Liens granted to Agent, Lender under the Security Documents and the financing statements filed pursuant thereto and the rights and powers of Agent Lender shall continue in full force and effect notwithstanding the fact that Borrower's borrowings hereunder may from time to time be in a zero or credit position until all of the Obligations (other than indemnity obligations of Borrower under the Loan Documents that are not then due and payable or with respect to which no claim has been made) have been fully performed and indefeasibly paid in full in cash.

Effectiveness and Termination. Subject to Administrative Agent’s right to accelerate the Loan Notes and terminate the Revolving Loan Commitments and cease making and funding Advances Note Fundings upon the occurrence and during the continuation of any Event of Default, this Agreement shall continue in full force and effect until the earlier of the Final Maturity Date and the date on which the Revolving Loan Commitments are Date, unless terminated pursuant to Section 2.5(b)sooner as provided in Sections 2.5 or 2.6. All of the Obligations shall be immediately due and payable upon the earlier of (i) the Final Maturity Date, (ii) the date on which Agent accelerates the Loan following the occurrence and during the continuance of an Event of Default or (iii) the Prepayment Date stated in or the notice date upon which Agent declares all or any of prepayment delivered by Borrower the Notes and/or Note, all interest thereon and all other Obligations to be due and payable pursuant to Section 2.5(b)the terms of Article VIII, as applicable (the “Termination Date”). Notwithstanding any other provision of any Loan Transaction Document, no termination of this Agreement shall affect Agent’s, Collateral Trustee’s or any LenderNote Purchaser’s rights or any of the Obligations under the Loan Documents existing as of the effective date of such termination, and the provisions of the Loan Transaction Documents shall continue to be fully operative until the Obligations under the Loan Documents (other than indemnity obligations of Borrower under the Loan Transaction Documents that are not then due and payable or with respect to for which no claim has been madeany events or claims that would give rise thereto are not then pending) have been fully performed and indefeasibly paid in cash in full. The Liens granted to AgentCollateral Trustee, under the Security Documents and the financing statements filed pursuant thereto and the rights and powers of Administrative Agent and Collateral Trustee shall continue in full force and effect until all of the Obligations (other than indemnity obligations of Borrower under the Loan Transaction Documents that are not then due and payable or with respect to for which no claim has been madeany events or claims that would give rise thereto are not then pending) have been fully performed and indefeasibly paid in full in cash.

Effectiveness and Termination. Subject to Agenteach Lender’s right to accelerate the Loan and terminate the Revolving Loan Commitments and cease making and funding Advances upon the occurrence and during the continuation of any Event of DefaultLoans as set forth in this Agreement, this Agreement shall continue in full force and effect until the earlier full performance and indefeasible payment in cash of all Obligations, unless terminated sooner as provided in this Section 11.1. Borrower may terminate the Revolving Facility or this Agreement at any time prior to the last day of the Maturity Date Term, subject to Section 3.3, upon not less than thirty (30) calendar days’ prior notice to Agent and upon full performance and indefeasible payment in full in cash of all Obligations under the date on which Loan Documents. Upon any termination of the Revolving Loan Commitments are terminated pursuant Facility or this Agreement by Borrower, the obligation of Lenders to Section 2.5(b)make Advances under the Revolving Facility shall terminate. All of the Obligations shall be immediately due and payable upon any such termination on the earlier of (i) the Maturity Date, (ii) the termination date on which Agent accelerates the Loan following the occurrence and during the continuance of an Event of Default or (iii) the Prepayment Date stated in the any notice of prepayment delivered by Borrower pursuant to Section 2.5(b), as applicable termination (the “Termination Date”); provided that, notwithstanding any other provision of any Loan Document, the Termination Date shall be effective no earlier than the first Business Day of the month following the expiration of the thirty (30) calendar days’ prior written notice period. Notwithstanding any other provision of any Loan Document, no termination of notice to terminate this Agreement shall affect Agentany Lender’s or any LenderAgent’s rights or any of the Obligations under the Loan Documents existing as of the effective date of such termination, and the provisions of the Loan Documents shall continue to be fully operative until the Obligations under the Loan Documents (other than indemnity obligations of Borrower under the Loan Documents that are not then due and payable or with respect to which no claim has been made) have been fully and indefeasibly paid in cash in full. The Liens granted to Agent, for the benefit of itself and Lenders, under the Security Documents and the financing statements filed pursuant thereto and the rights and powers of Agent and Lenders shall continue in full force and effect notwithstanding the fact that Borrower’s borrowings hereunder may from time to time be in a zero or credit position until all of the Obligations (other than indemnity obligations of Borrower under the Loan Documents that are not then due and payable or with respect to which no claim has been made) have been fully performed and indefeasibly paid in full in cash.

Effectiveness and Termination. Subject to Administrative Agent’s right to accelerate the Loan Notes and terminate the Revolving Loan Commitments and cease making and funding Advances Note Fundings upon the occurrence and during the continuation of any Event of Default, this Agreement shall continue in full force and effect until the earlier of the Final Maturity Date and the date on which the Revolving Loan Commitments are Date, unless terminated pursuant to Section 2.5(b)sooner as provided in Sections 2.5 or 2.6. All of the Obligations shall be immediately due and payable upon the earlier of (i) the Final Maturity Date, (ii) the date on which Agent accelerates the Loan following the occurrence and during the continuance of an Event of Default or (iii) the Prepayment Date stated in or the notice date upon which Agent declares all or any of prepayment delivered by Borrower the Notes and/or Note, all interest thereon and all other Obligations to be due and payable pursuant to Section 2.5(b)the terms of Article VIII, as applicable (the “Termination Date”). Notwithstanding any other provision of any Loan Transaction Document, no termination of this Agreement shall affect Agent’s, Collateral Agent’s or any LenderNote Purchaser’s rights or any of the Obligations under the Loan Documents existing as of the effective date of such termination, and the provisions of the Loan Transaction Documents shall continue to be fully operative until the Obligations under the Loan Documents (other than indemnity obligations of Borrower under the Loan Transaction Documents that are not then due and payable or with respect to for which no claim has been madeany events or claims that would give rise thereto are not then pending) have been fully performed and indefeasibly paid in cash in full. The Liens granted to Collateral Agent, under the Security Documents and the financing statements filed pursuant thereto and the rights and powers of Administrative Agent and Collateral Agent shall continue in full force and effect until all of the Obligations (other than indemnity obligations of Borrower under the Loan Transaction Documents that are not then due and payable or with respect to for which no claim has been madeany events or claims that would give rise thereto are not then pending) have been fully performed and indefeasibly paid in full in cash.

Effectiveness and Termination. Subject to Agent’s right to accelerate the Loan and terminate the Revolving Loan Commitments and cease making and funding Advances upon the occurrence and during the continuation of any Event of DefaultLoan, this Agreement shall continue in full force and effect until the earlier of the Maturity Date and the date on which the Revolving Loan Commitments are Date, unless terminated pursuant to sooner as provided in this Section 2.5(b)11.1. All of the Obligations (other than indemnity obligations under the Loan Documents that are not then due and payable or for which any events or claims that would give rise thereto are not then pending) shall be immediately due and payable upon the earlier of (i) on the Maturity Date, (ii) the date on which Agent accelerates the Loan following the occurrence and during the continuance of an Event of Default or (iii) the Prepayment Date stated in the notice of prepayment delivered by Borrower pursuant to Section 2.5(b), as applicable (the “Termination Date”). Notwithstanding any other provision of any Loan Document, no termination of this Agreement shall affect Agent’s or any Lender’s rights or any of the Obligations under the Loan Documents existing as of the effective date of such termination, and the provisions of the Loan Documents shall continue to be fully operative until the Obligations under the Loan Documents (other than indemnity obligations of Borrower under the Loan Documents that are not then due and payable or with respect to for which no claim has been madeany events or claims that would give rise thereto are not then pending) have been fully performed and indefeasibly paid in cash in full. The Liens granted to Agent, Agent hereunder and under the Security other Loan Documents and the financing statements filed pursuant thereto and the rights and powers of the Lenders and Agent shall continue in full force and effect until all of the Obligations (other than indemnity obligations of Borrower under the Loan Documents that are not then due and payable or with respect to for which no claim has been madeany events or claims that would give rise thereto are not then pending) have been fully performed and indefeasibly paid in full in cash.

Effectiveness and Termination. Subject to Agent’s right to accelerate the Loan and terminate the Revolving Loan Commitments Amount and cease making and funding Advances upon the occurrence and during the continuation of any Event of Default, this Agreement shall continue in full force and effect until the earlier of the Maturity Date and the date on which the Revolving Loan Commitments are Date, unless terminated pursuant to Section 2.5(b)sooner as provided in Sections 2.5 or 2.6. All of the Obligations shall be immediately due and payable upon the earlier of (i) the Maturity Date, (ii) the date on which Agent accelerates the Loan following the occurrence and during the continuance of an Event of Default or (iii) the Prepayment Date stated (only in the notice case of a prepayment delivered by Borrower in full of the Loans) or the date upon which Agent declares all or any of the Loan and/or Note, all interest thereon and all other Obligations to be due and payable pursuant to Section 2.5(b)the terms of Article VIII, as applicable (the “Termination Date”). Notwithstanding any other provision of any Loan Document, no termination of this Agreement shall affect Agent’s or any Lenderother Secured Party’s rights or any of the Obligations under the Loan Documents existing as of the effective date of such termination, and the provisions of the Loan Documents shall continue to be fully operative until the Obligations under the Loan Documents (other than indemnity obligations of Borrower under the Loan Documents that are not then due and payable or with respect to for which no claim has been madeany events or claims that would give rise thereto are not then pending) have been fully performed and indefeasibly paid in cash in full. The Liens granted to Agent, under the Security Documents and the financing statements filed pursuant thereto and the rights and powers of Agent shall continue in full force and effect until all of the Obligations (other than indemnity obligations of Borrower under the Loan Documents that are not then due and payable or with respect to for which no claim has been madeany events or claims that would give rise thereto are not then pending) have been fully performed and indefeasibly paid in full in cash.. [RumbleOn] Loan Agreement

Effectiveness and Termination. Subject to Agent’s right to accelerate the Loan and terminate the Revolving Loan Commitments and cease making and funding Advances upon the occurrence and during the continuation of any Event of Default, this Agreement shall continue in full force and effect until the earlier Maturity Date, unless terminated sooner as provided in Section 2.6. Upon the Maturity Date, any acceleration of the Maturity Date and Obligations by Agent or any such termination by Borrower, the date on which obligation of Agent and/or Lenders to make Advances under the Revolving Loan Commitments are terminated pursuant to Section 2.5(b)shall terminate. All of the Obligations shall be immediately due and payable upon the earlier of (i) the Maturity Date, (ii) the completion of a Voluntary Termination Date or the date on upon which Agent accelerates declares all or any of the Loan following the occurrence and/or Notes, all interest thereon and during the continuance of an Event of Default or (iii) the Prepayment Date stated in the notice of prepayment delivered by Borrower all other Obligations to be due and payable pursuant to Section 2.5(b)the terms of Article VIII, as applicable (the “Termination Date”). Notwithstanding any other provision of any Loan Document, no termination of this Agreement shall affect Agent’s or any Lender’s rights or any of the Obligations under the Loan Documents existing as of the effective date of such termination, and the provisions of the Loan Documents shall continue to be fully operative until the Obligations under the Loan Documents (other than indemnity obligations of Borrower under the Loan Documents that are not then due and payable or with respect to for which no claim has been madeany events or claims that would give rise thereto are not then pending) have been fully performed and indefeasibly paid in cash in full. The Liens granted to Agent, under the Security Documents and the financing statements filed pursuant thereto and the rights and powers of Agent shall continue in full force and effect until all of the Obligations (other than indemnity obligations of Borrower under the Loan Documents that are not then due and payable or with respect to for which no claim has been madeany events or claims that would give rise thereto are not then pending) have been fully performed and indefeasibly paid in full in cash.

Effectiveness and Termination. Subject to Agent’s right to accelerate the Loan and terminate the Revolving Loan Commitments and cease making and funding Advances upon the occurrence and during the continuation of any Event of Default, this Agreement shall continue in full force and effect until the earlier of the Maturity Date and the date on which the Revolving Loan Commitments are Date, unless terminated pursuant to sooner as provided in Section 2.5(b). All of the Obligations shall be immediately due and payable upon the earlier earliest of (i) the Maturity Date, (ii) the date on which Agent accelerates the Loan following the occurrence and during the continuance of an Event of Default or (iii) the Prepayment Date stated in the notice of prepayment delivered by Borrower pursuant to Section 2.5(b), as applicable (the “Termination Date”). Notwithstanding any other provision of any Loan Document, no termination of this Agreement shall affect Agent’s or any Lender’s rights or any of the Obligations under the Loan Documents existing as of the effective date of such termination, and the provisions of the Loan Documents shall continue to be fully operative until the Obligations under the Loan Documents (other than indemnity obligations of Borrower under the Loan Documents that are not then due and payable or with respect to for which no claim has been madeany events or claims that would give rise thereto are not then pending) have been fully performed and indefeasibly paid in cash in full. The Liens granted to Agent, under the Security Documents and the financing statements filed pursuant thereto and the rights and powers of Agent shall continue in full force and effect until all of the Obligations (other than indemnity obligations of Borrower under the Loan Documents that are not then due and payable or with respect to for which no claim has been madeany events or claims that would give rise thereto are not then pending) have been fully performed and indefeasibly paid in full in cash.

Effectiveness and Termination. Subject to Agent’s right to accelerate the Loan and terminate the Revolving Loan Commitments and cease making and funding Advances upon the occurrence and during the continuation of any Event of Default, this Agreement shall continue in full force and effect until the earlier Maturity Date, unless terminated sooner as provided in Section 2.6. Upon the Maturity Date, any acceleration of the Maturity Date and Obligations by Agent or any such termination by Borrower, the date on which obligation of Agent and/or Lenders to make Advances under the Revolving Loan Commitments are terminated pursuant to Section 2.5(b)shall terminate. All of the Obligations shall be immediately due and payable upon the earlier of (i) the Maturity Date, (ii) the completion of a Voluntary Termination Date or the date on upon which Agent accelerates declares all or any of the Loan following the occurrence and/or Notes, all interest thereon and during the continuance of an Event of Default or (iii) the Prepayment Date stated in the notice of prepayment delivered by Borrower all other Obligations to be due and payable pursuant to Section 2.5(b)the terms of Article VIII, as applicable (the “Termination Date”). Notwithstanding any other provision of any Loan Document, no termination of this Agreement shall affect Agent’s or any Lender’s rights or any of the Obligations under the Loan Documents existing as of the effective date of such termination, and the provisions of the Loan Documents shall continue to be fully operative until the Obligations under the Loan Documents (other than indemnity obligations of Borrower under the Loan Documents that are not then due and payable or with respect to for which no claim has been madeany events or claims that would give rise thereto are not then pending) have been fully performed and indefeasibly paid in cash in full. The Liens granted to Agent, under the Security Documents and the financing statements filed pursuant thereto and the rights and powers of Agent shall continue in full force and effect until all of the Obligations and Other Indebtedness (including, without limitation, the Inventory Loan Obligations) (other than indemnity obligations of Borrower under the Loan Documents or documentation evidencing or securing the Other Indebtedness that are not then due and payable or with respect to for which no claim has been madeany events or claims that would give rise thereto are not then pending) have been fully performed and indefeasibly paid in full in cash.

Effectiveness and Termination. Subject to Agent’s right to accelerate the Loan and terminate the Revolving Loan Commitments Availability and cease making and funding Advances upon the occurrence and during the continuation of any Event of Default, this Agreement shall continue in full force and effect until the earlier of the Maturity Date and the date on which the Revolving Loan Commitments are Date, unless terminated pursuant to Section 2.5(b)sooner as provided in Sections 2.5 or 2.6. All of the Obligations shall be immediately due and payable upon the earlier of (i) the Maturity Date, (ii) the date on which Agent accelerates the Loan following the occurrence and during the continuance of an Event of Default or (iii) the Prepayment Date stated (only in the notice case of a prepayment delivered by Borrower in full of the Loans) or the date upon which Agent declares all or any of the Loan and/or Note, all interest thereon and all other Obligations to be due and payable pursuant to Section 2.5(b)the terms of Article VIII, as applicable (the “Termination Date”). Notwithstanding any other provision of any Loan Document, no termination of this Agreement shall affect Agent’s or any Lenderother Secured Party’s rights or any of the Obligations under the Loan Documents existing as of the effective date of such termination, and the provisions of the Loan Documents shall continue to be fully operative until the Obligations under the Loan Documents (other than indemnity obligations of Borrower under the Loan Documents that are not then due and payable or with respect to for which no claim has been madeany events or claims that would give rise thereto are not then pending) have been indefeasibly fully performed and paid in cash in full. The Liens granted to Agent, under the Security Documents and the financing statements filed pursuant thereto and the rights and powers of Agent shall continue in full force and effect until all of the Obligations (other than indemnity obligations of Borrower under the Loan Documents that are not then due and payable or with respect to for which no claim has been madeany events or claims that would give rise thereto are not then pending) have been fully performed and indefeasibly paid in full in cash.

Effectiveness and Termination. Subject to AgentLender’s right to accelerate the Loan and terminate the Revolving Loan Commitments and cease making and funding Advances upon the occurrence and during the continuation continuance of any an Event of Default, this Agreement shall continue in full force and effect until the earlier full performance and indefeasible payment in cash of the Maturity Date all Obligations (other than indemnity obligations with respect to which no claim has been made), unless terminated sooner as provided in this Section 11.1. Borrower may terminate this Agreement at any time upon not less than thirty (30) calendar days’ prior written notice to Lender and the date on upon full performance and indefeasible payment in full in cash of all Obligations (other than indemnity obligations with respect to which the Revolving Loan Commitments are terminated pursuant to Section 2.5(bno claim has been made). All of the Obligations (other than indemnity obligations with respect to which no claim has been made) shall be immediately due and payable upon any such termination on the earlier of (i) the Maturity Date, (ii) the termination date on which Agent accelerates the Loan following the occurrence and during the continuance of an Event of Default or (iii) the Prepayment Date stated in the any notice of prepayment delivered by Borrower pursuant to Section 2.5(b), as applicable termination (the “Termination Date”). Notwithstanding any other provision of any Loan Document, no termination of this Agreement shall affect Agent’s or any Lender’s rights or any of the Obligations under the Loan Documents existing as of the effective date of such termination, and the provisions of the Loan Documents shall continue to be fully operative until the Obligations under the Loan Documents (other than indemnity obligations of Borrower under the Loan Documents that are not then due and payable or with respect to which no claim has been made) have been fully performed and indefeasibly paid in cash in full. The Liens granted to Agent, Lender under the Security Loan Documents and the financing statements filed pursuant thereto and the rights and powers of Agent Lender shall continue in full force and effect notwithstanding the fact that Borrower’s borrowings hereunder may from time to time be in a zero or credit position until all of the Obligations (other than indemnity obligations of Borrower under the Loan Documents that are not then due and payable or with respect to which no claim has been made) have been fully performed and indefeasibly paid in full in cash.