Maturity of the Obligations Sample Clauses

Maturity of the Obligations. On the Maturity Date or, if sooner, upon acceleration after an Event of Default in accordance with this Agreement, all Obligations, together with all principal, interest, and other charges outstanding pursuant to the Loan Documents shall be immediately due and payable.
Sample 1Sample 2
AutoNDA by SimpleDocs
Maturity of the Obligations. On the Maturity Date or, if sooner, upon acceleration of the Maturity Date after an Event of Default, all Obligations, together with all principal, interest, and other charges outstanding pursuant to the Loan Documents shall be immediately due and payable; provided , however, if immediately before the Maturity Date, there exist Spec Units or Presold Units that are included in Eligible Assets and will not be completed or sold on the Maturity Date (the “Holdover Collateral”), then, so long as no Event of Default has occurred and is continuing, at the written request of the Borrower for continued financing of the Holdover Collateral made to Administrative Agent before the Maturity Date: (a) the Commitment Amount shall be automatically reduced to the aggregate Maximum Allowed Advance of the Holdover Collateral; (b) the Loan shall cease to be a revolving loan and shall be a line of credit with respect to which amounts paid and prepaid may not be reborrowed and all Letters of Credit shall have expired or be terminated (or shall have been Cash Collateralized); (c) the Holdover Collateral shall be the only Eligible Assets, all other Units shall cease to be Eligible Assets, and Borrower shall immediately make any Remargining Payment resulting from such exclusion of Units from Eligible Assets; (d) further disbursements of the Loan shall be used solely to complete the construction of the Spec Units and Presold Units included in the Holdover Collateral pursuant to such additional inspection, review and approval procedures as Administrative Agent may reasonably request; (e) all other terms and conditions with respect to such Holdover Collateral shall continue to apply (including, without limitation, the requirements and conditions for inclusion of each such Holdover Collateral in the Eligible Assets pursuant to Article 3); and (f) solely for the purpose of providing financing for the Holdover Collateral, the Maturity Date shall be extended to the earliest to occur of (i) the sale and release of the last Unit included in the Holdover Collateral, (ii) the date on which the last Unit included in the Holdover Collateral ceases to be Eligible Assets pursuant to Article 3, and (iii) the date six (6) months after the original Maturity Date (such extended Maturity Date, the “Holdover Maturity Date”). In connection with and as a further condition to any extension of the Maturity Date to the Holdover Maturity Date, Borrower will execute and deliver such amendments and agreements...
Sample 1

Related to Maturity of the Obligations

  • Guaranty of the Obligations Subject to the provisions of Section 7.2, Guarantors jointly and severally hereby irrevocably and unconditionally guaranty to Administrative Agent for the ratable benefit of the Beneficiaries the due and punctual payment in full of all Obligations when the same shall become due, whether at stated maturity, by required prepayment, declaration, acceleration, demand or otherwise (including amounts that would become due but for the operation of the automatic stay under Section 362(a) of the Bankruptcy Code, 11 U.S.C. § 362(a)) (collectively, the “Guaranteed Obligations”).

  • Acceleration of the Obligations Upon or at any time after the occurrence and during the continuance of an Event of Default, (i) the Revolving Loan Commitments shall, at the option of Agent or Majority Lenders be terminated and/or (ii) Agent or Majority Lenders may declare all or any portion of the Obligations at once due and payable without presentment, demand protest or further notice by Agent or any Lender, and Borrowers shall forthwith pay to Agent, the full amount of such Obligations, provided, that upon the occurrence of an Event of Default specified in subsection 10.1.8 hereof, the Revolving Loan Commitments shall automatically be terminated and all of the Obligations shall become automatically due and payable, in each case without declaration, notice or demand by Agent or any Lender.

  • Maturity of Loans Each Loan hereunder shall mature, and the principal amount thereof shall be due and payable on the Maturity Date with respect to such Loan.

  • Post-Maturity Interest Any principal payments on the Loan not paid when due and, to the extent permitted by applicable law, any interest payment on the Loan not paid when due, in each case whether at Stated Maturity, by notice of prepayment, by acceleration or otherwise, shall thereafter bear interest payable upon demand at a rate of interest otherwise payable under this Agreement for the Loan but in no event to exceed the maximum interest rate permitted by applicable law.

  • Maturity of the Funding Agreement Upon the maturity of the Funding Agreement and the return of funds thereunder, the Trust hereby directs the Indenture Trustee to set aside from such funds an amount sufficient for the repayment of the outstanding principal on the Notes and Trust Beneficial Interest when due.

  • Maturity As provided therein, the entire unpaid principal balance of each Note shall be due and payable on the Maturity Date thereof.

  • The Obligations The security interest granted hereunder shall secure the payment of all indebtedness and the performance of all obligations of the Debtor to the Secured Party of every type and description, whether now existing or hereafter arising, fixed or contingent, as primary obligor or as guarantor or surety, acquired directly or by assignment or otherwise, liquidated or unliquidated, regardless of how they arise or by what agreement or instrument they may be evidenced, including without limitation all loans, advances and other extensions of credit and all covenants, agreements, and provisions contained in all loan and other agreements between the parties (the “Obligations”).

  • Priority of Obligations The Company will ensure that its payment obligations under this Agreement and the Notes will at all times rank at least pari passu, without preference or priority, with all other unsecured and unsubordinated Indebtedness of the Company.

  • Repayment Obligation In the event that any State and/or federal funds are deferred and/or disallowed as a result of any audits or expended in violation of the laws applicable to the expenditure of such funds, the Contractor shall be liable to the Agency for the full amount of any claim disallowed and for all related penalties incurred. The requirements of this paragraph shall apply to the Contractor as well as any subcontractors.

  • Maturity Date This Agreement shall continue in effect until the maturity date set forth on the Schedule (the "Maturity Date"), subject to Section 6.3 below.

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