Further Advances. The Lender may from time to time without notice to the Borrowers suspend, terminate or limit any further advances, loans or other extensions of credit under the Commitments, under this Agreement and/or under any of the other Financing Documents. Further, upon the occurrence of an Event of Default or Default specified in Section 7.1.6 (Receiver; Bankruptcy) or Section 7.1.7 (Involuntary Bankruptcy, etc.), the Revolving Credit Commitment and any agreement in any of the Financing Documents to provide additional credit shall immediately and automatically terminate and the unpaid principal amount of the Notes (with accrued interest thereon) and all other Obligations then outstanding, shall immediately become due and payable without further action of any kind and without presentment, demand, protest or notice of any kind, all of which are hereby expressly waived by the Borrowers.
Appears in 2 contracts
Sources: Financing Agreement (Argan Inc), Financing and Security Agreement (Argan Inc)
Further Advances. The Lender may from time to time without notice to the Borrowers Borrower suspend, terminate or limit any further advances, loans or other extensions of credit under the Commitments, under this Agreement and/or and under any of the other Financing Documents. Further, upon the occurrence of an Event of Default or Default specified in Section 7.1.6 7.1.5 (Receiver; Bankruptcy) or Section 7.1.7 7.1.6 (Involuntary Bankruptcy, etc.), the Revolving Credit Commitment and any agreement in any of the Financing Documents to provide additional credit and/or to issue Letters of Credit shall immediately and automatically terminate and the unpaid principal amount of the Notes (with accrued interest thereon) and all other Obligations then outstanding, shall immediately become due and payable without further action of any kind and without presentment, demand, protest or notice of any kind, all of which are hereby expressly waived by the BorrowersBorrower.
Appears in 2 contracts
Sources: Financing and Security Agreement (ARGON ST, Inc.), Financing and Security Agreement (Sensytech Inc)
Further Advances. The Lender may from time to time without notice to the Borrowers Borrower suspend, terminate or limit any further advances, loans or other extensions of credit under the CommitmentsCommitment, under this Agreement and/or under any of the other Financing Documents. Further, upon the occurrence of an Event of Default or Default specified in Section 7.1.6 (Receiver; Bankruptcy) or Section 7.1.7 (Involuntary Bankruptcy, etc.), the Revolving Credit Commitment Commitments and any agreement in any of the Financing Documents to provide additional credit shall immediately and automatically terminate and the unpaid principal amount of the Notes (with accrued interest thereon) and all other Obligations then outstanding, shall immediately become due and payable without further action of any kind and without presentment, demand, protest or notice of any kind, all of which are hereby expressly waived by the BorrowersBorrower.
Appears in 1 contract
Sources: Financing and Security Agreement (Healthextras Inc)
Further Advances. The Lender may from time to time without notice to the Borrowers Borrower suspend, terminate or limit any further advances, loans or other extensions of credit under the Commitments, under this Agreement and/or and under any of the other Financing Documents. Further, upon the occurrence of an Event of Default or Default specified in Section 7.1.6 Sections 7.1.5 (Receiver; Bankruptcy) or Section 7.1.7 7.1.6 (Involuntary Bankruptcy, etc.), the Revolving Credit Commitment and any agreement in any of the Financing Documents to provide additional credit shall immediately and automatically terminate and the unpaid principal amount of the Notes (with accrued interest thereon) and all other Obligations then outstanding, shall immediately become due and payable without further action of any kind and without presentment, demand, protest or notice of any kind, all of which are hereby expressly waived by the BorrowersBorrower.
Appears in 1 contract
Sources: Financing and Security Agreement (Sensys Technologies Inc)
Further Advances. The Lender may from time to time without notice to the Borrowers Borrower suspend, terminate or limit any further advances, loans or other extensions of credit under the CommitmentsCommitment, under this Agreement and/or under any of the other Financing Documents. Further, upon the occurrence of an Event of Default or Default specified in Section 7.1.6 7.1.5 (Receiver; Bankruptcy) or Section 7.1.7 7.1.6 (Involuntary Bankruptcy, etc.), the Revolving Credit Commitment Commitments and any agreement in any of the Financing Documents to provide additional credit shall immediately and automatically terminate and the unpaid principal amount of the Notes (with accrued interest thereon) and all other Obligations then outstanding, shall immediately become due and payable without further action of any kind and without presentment, demand, protest or notice of any kind, all of which are hereby expressly waived by the BorrowersBorrower.
Appears in 1 contract
Sources: Financing and Security Agreement (Healthextras Inc)
Further Advances. The Lender may from time to time without notice to the Borrowers Borrower suspend, terminate or limit any further advances, loans or other extensions of credit under the Commitments, under this Agreement and/or under any of the other Financing Documents. Further, upon the occurrence of an Event of Default or Default specified in Section 7.1.6 6.1.5 (Receiver; Bankruptcy) or Section 7.1.7 6.1.6 (Involuntary Bankruptcy, etc.), the Revolving Credit Commitment and any agreement in any of the Financing Documents to provide additional credit shall immediately and automatically terminate and the unpaid principal amount of the Notes (with accrued interest thereon) and all other Obligations then outstanding, shall immediately become due and payable without further action of any kind and without presentment, demand, protest or notice of any kind, all of which are hereby expressly waived by the BorrowersBorrower.
Appears in 1 contract
Further Advances. The Lender may from time to time without notice to the Borrowers Borrower suspend, terminate or limit any further advances, loans or other extensions of credit under the Commitments, under this Agreement and/or under any of the other Financing Documents. Further, upon the occurrence of an Event of Default or Default specified in Section 7.1.6 6.1.5 (Receiver; Bankruptcy) or Section 7.1.7 6.1.6 (Involuntary Bankruptcy, etc.), the Revolving Credit Commitment and any agreement in any of the Financing Documents to provide additional credit shall immediately and automatically terminate and the unpaid principal amount of the Notes (with accrued interest thereon) and all other Obligations then outstanding, shall immediately become due and payable without further action of any kind and without presentment, demand, protest or notice of any kind, all of which are hereby expressly waived by the BorrowersBorrower.
Appears in 1 contract
Further Advances. The Lender may from time to time without notice to the Borrowers Borrower suspend, terminate or limit any further advances, loans or other extensions of credit under the Commitments, under this Agreement and/or and under any of the other Financing Documents. Further, upon the occurrence of an Event of Default or Default with respect to any event specified in Section 7.1.6 clause (Receiver; Bankruptcyg) or clause (h) of Section 7.1.7 7.1 (Involuntary Bankruptcy, etc.Events of Default), any commitment of the Revolving Credit Commitment Lender to make advances under the Loans and any agreement in any of the Financing Documents to provide additional credit shall immediately and automatically terminate and the unpaid principal amount of the Notes Term Note and the Revolving Credit Note (with accrued interest thereon) and all other Obligations then outstanding, shall immediately become due and payable without further action of any kind and without presentment, demand, protest or notice of any kind, all of which are hereby expressly waived by the BorrowersBorrower.
Appears in 1 contract