Refinancing Option Sample Clauses

Refinancing Option. Prior to April 30, 2002 (the "REFINANCING OPTION TERMINATION DATE"), the Company shall have the right to purchase from the Lenders (a) the Bank Note (or the shares of Series A Preferred Stock issued upon conversion of the Bank Note) and (b) 1,337,358 shares of Common Stock held by the Lenders ((a) and (b) collectively, the "REFINANCING OPTION") for an aggregate amount equal to (i) the $5,000,000 principal amount of the Bank Note and accrued interest thereon (assuming that the full $5,000,000 principal amount of the Bank Note was outstanding on the payment date) plus reasonable expenses (as defined in the Bank Note) to the date of purchase and (ii) $4,158,431 (the sum of (i) and (ii) the "REFINANCING OPTION PRICE"); PROVIDED, that in the event that (x) the Company shall not have exercised the Refinancing Option prior to the Refinancing Option Termination Date, (y) the Company has obtained a non-binding letter of intent, term sheet or similar documentation which sets forth the terms of a transaction that the Company in good faith reasonably believes will provide the Company with the requisite funds to effect the Refinancing Option on or before May 14, 2002 and (z) the Company has provided the Lender with a copy of such documentation, then the Refinancing Option shall automatically and irrevocably be extended to May 14, 2002. In the event that the Refinancing Option is exercised and the Refinancing Option Price is paid in full by the rendering of payment thereof by April 30, 2002 or May 14, 2002, as applicable, then this Agreement shall terminate and have no further effect (other than SECTION 7.2 hereof which shall survive). Notwithstanding the foregoing the Company shall not have the right to exercise the Refinancing Option unless it has received, after the date of this Agreement, proceeds from the issuance of subordinated debt or equity of the Company (in each case having terms reasonably acceptable to the Required Lenders (as defined in the Credit Agreement)) at least equal to the sum of (x) the Refinancing Option Price plus (y) $6,000,000.

Refinancing Option. From and after and during the continuance of a Specified Default Triggering Event, the Initial Investor may, at its sole option and in its sole discretion, provide the Company or its subsidiaries with, and the Company and its subsidiaries shall accept, debt financing in an amount equal to the full amount then necessary to repay and retire, in full, all indebtedness and other obligations under the Credit Agreement, which new debt financing shall be on such terms and conditions (including interest rates, date of maturity and collateral and security) identical (other than the identity of the lenders party thereto and other similar conforming changes, but subject to the proviso set forth below in the last sentence of this Section 5.9) to the terms and conditions in the Credit Agreement, and in any event not less favorable to the Initial Investor than such terms and conditions are to the lenders under the Credit Agreement, and shall be used solely to refinance the indebtedness outstanding under the Credit Agreement. The Company acknowledges and agrees that, upon the exercise of the foregoing right by the Initial Investor, it will, and will cause its subsidiaries to, enter in such documents, instruments or agreements as are necessary to give effect to the foregoing. The Company, on behalf of itself and its subsidiaries, and the Initial Investor acknowledge and agree that, at the time of providing such new debt financing, a default or event of default may exist under the definitive documentation therefor (including with respect to any default or event of default under the Credit Agreement at such time), which would afford the Initial Investor the rights and remedies provided therein, including the right to accelerate such new debt financing and exercise any rights or remedies (including rights and remedies relating to any collateral or security provided in connection therewith); provided, however, that notwithstanding any term or provision in the Credit Agreement or such definitive documentation relating to such new debt financing, the Initial Investor shall not be permitted to accelerate such new debt financing or exercise such rights or remedies (including rights and remedies relating to any collateral or security provided in connection therewith) with respect to any such default or event of default in existence at the time such new debt financing is provided and included on a list of existing defaults and events of defaults delivered by the Company to the Init...

Refinancing Option. The Borrower shall have the right to refinance all Commitments and all of the outstanding Loans, if any, in whole but not in part, without premium or penalty upon at least ten (10) days' prior written notice to the Agent; provided, however, that the Borrower agrees to indemnify each Bank and hold each Bank harmless from any direct loss (but excluding any indirect, consequential or incidental loss or damage), cost or out-of-pocket expense which such Bank incurs as a result of a refinancing pursuant to this Section 2.21 of any LIBOR Rate Loan on a date which is not the last day of an Interest Period applicable thereto.

Refinancing Option. The Borrower shall have the right to refinance the Commitment and any outstanding Loans without premium or penalty upon at least ten (10) Business Days' prior written notice to the Agent; provided, however, the Borrower agrees to indemnify each Bank and hold each Bank harmless from any direct loss (but excluding any indirect, consequential or incidental loss or damage), cost or out-of-pocket expense which such Bank incurs as a result of a refinancing pursuant to this Section 2.19 of any LIBOR Rate Loan on a date which is not the last day of an Interest Period applicable thereto.

Refinancing Option. The Borrower shall have the right to refinance the Commitment and any outstanding Loans without premium or penalty, except as provided in Section 2.3(c), upon at least 10 Business Days' prior written notice to the Agent.

Refinancing Option. 35 Section 11.

Refinancing Option. 19 SECTION 2.19 RIGHT OF SET-OFF.............................................................19