Common use of Repayment of the Loans Clause in Contracts

Repayment of the Loans. The Companies (a) may prepay the Obligations from time to time in accordance with the terms and provisions of the Note (and Section 17 hereof if such prepayment is due to a termination of this Agreement); (b) shall repay on the expiration of the Term (i) the then aggregate outstanding principal balance of the Loans together with accrued and unpaid interest, fees and charges and; (ii) all other amounts owed Lender under this Agreement and the Ancillary Agreements; and (c) absent approval of Permitted Overadvance by Lender pursuant to Section 2(a)(ii), shall repay on any day on which the then aggregate outstanding principal balance of the Loans are in excess of the Formula Amount at such time, Loans in an amount equal to such excess and (d) shall repay any Permitted Overadvance on the date specified by Lender upon approval of such Permitted Overadvance. Any payments of principal, interest, fees or any other amounts payable hereunder or under any Ancillary Agreement shall be made prior to 12:00 noon (New York time) on the due date thereof in immediately available funds.

Appears in 2 contracts

Samples: Security Agreement (Digital Angel Corp), Security Agreement (Applied Digital Solutions Inc)

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Repayment of the Loans. The Companies (a) may prepay the Obligations from time to time in accordance with the terms and provisions of the Note Notes (and Section 17 hereof if such prepayment is due to a termination of this Agreement); (b) shall repay on the Maturity Date (as defined in the Secured Convertible Term Note) (i) the then aggregate outstanding principal balance of the Term Loan together with accrued and unpaid interest, fees and charges and: (ii) all other amounts owed Laurus under the Secured Convertible Term Note; (c) shall repay on the expiration of the Term (i) the then aggregate outstanding principal balance of the Revolving Loans together with accrued and unpaid interest, fees and charges and; (ii) all other amounts owed Lender Laurus under this Agreement and the Ancillary Agreements; and (c) absent approval of Permitted Overadvance by Lender pursuant subject to Section 2(a)(ii), shall repay on any day on which the then aggregate outstanding principal balance of the Loans are in excess of the Formula Amount at such time, Loans in an amount equal to such excess and (d) shall repay any Permitted Overadvance on the date specified by Lender upon approval of such Permitted Overadvanceexcess. Any payments of principal, interest, fees or any other amounts payable hereunder or under any Ancillary Agreement shall be made prior to 12:00 noon (New York time) on the due date thereof in immediately available funds.

Appears in 2 contracts

Samples: Security and Purchase Agreement (Jagged Peak, Inc.), Security Agreement (General Environmental Management, Inc)

Repayment of the Loans. The Companies (a) may prepay the Obligations from time to time in accordance with the terms and provisions of the Note Notes (and Section 17 hereof if such prepayment is due to a termination of this Agreement); (b) shall repay on the Maturity Date (as defined in the Secured Convertible Term Note) (i) the then aggregate outstanding principal balance of the Term Loan together with accrued and unpaid interest, fees and charges and (ii) all other amounts owed Laurus under the Secured Convertible Term Note; (c) shall repay on the expiration of the Term (i) the then aggregate outstanding principal balance of the Revolving Loans together with accrued and unpaid interest, fees and charges and; and (ii) all other amounts owed Lender Laurus under this Agreement and the Ancillary Agreements; and (cd) absent approval of Permitted Overadvance by Lender pursuant subject to Section 2(a)(ii), shall repay on any day on which the then aggregate outstanding principal balance of the Revolving Loans are in excess of the Formula Amount at such time, the Revolving Loans in an amount equal to such excess and (d) shall repay any Permitted Overadvance on the date specified by Lender upon approval of such Permitted Overadvanceexcess. Any payments of principal, interest, fees or any other amounts payable hereunder or under any Ancillary Agreement shall be made prior to 12:00 noon (New York time) on the due date thereof in immediately available funds.

Appears in 1 contract

Samples: Security Agreement (Elandia International Inc.)

Repayment of the Loans. The Companies (a) may prepay the Obligations from time to time in accordance with the terms and provisions of the Note Notes (and Section 17 hereof if such prepayment is due to a termination of this Agreement); (b) shall repay on the Maturity Date (as defined in the Secured Convertible Term Note) (i) the then aggregate outstanding principal balance of the Term Loan together with accrued and unpaid interest, fees and charges and: (ii) all other amounts owed Calliope under the Secured Convertible Term Note; (c) shall repay on the expiration of the Term (i) the then aggregate outstanding principal balance of the Revolving Loans together with accrued and unpaid interest, fees and charges and; and (ii) all other amounts owed Lender Calliope under this Agreement and the Ancillary Agreements; and (c) absent approval of Permitted Overadvance by Lender pursuant subject to Section 2(a)(ii), shall repay on any day on which the then aggregate outstanding principal balance of the Revolving Loans are in excess of the Formula Amount at such time, Revolving Loans in an amount equal to such excess and (d) shall repay any Permitted Overadvance on the date specified by Lender upon approval of such Permitted Overadvanceexcess. Any payments of principal, interest, fees or any other amounts payable hereunder or under any Ancillary Agreement shall be made prior to 12:00 noon (New York time) on the due date thereof in immediately available funds.

Appears in 1 contract

Samples: Security Agreement (American Mold Guard Inc)

Repayment of the Loans. The Companies Company (a) may prepay the Obligations from time to time in accordance with the terms and provisions of the Note Notes (and Section 17 16 hereof if such prepayment is due to a termination of this Agreement); (b) shall repay the Term Loan on the expiration of Maturity Date (as defined in the Secured Non-Convertible Term Note) (i) the then aggregate outstanding principal balance of the Loans Term Loan together with accrued and unpaid interest, fees and charges and; (ii) all other amounts owed Lender Laurus under Secured Non-Convertible Term Note, (c) shall repay the Revolving Loans on the expiration of the Term (i) the then aggregate outstanding principal balance of the Revolving Loans together with accrued and unpaid interest, fees and charges and (ii) all other amounts owed Laurus under this Agreement and the Ancillary Agreements; and (cd) absent approval of Permitted Overadvance by Lender pursuant subject to Section 2(a)(ii), shall repay on any day on which the then aggregate outstanding principal balance of the Loans are in excess of the Formula Amount at such time, Loans in an amount equal to such excess and (d) shall repay any Permitted Overadvance on the date specified by Lender upon approval of such Permitted Overadvanceexcess. Any payments of principal, interest, fees or any other amounts payable hereunder or under any Ancillary Agreement shall be made prior to 12:00 noon (New York time) on the due date thereof in immediately available funds.

Appears in 1 contract

Samples: Security Agreement (Conversion Services International Inc)

Repayment of the Loans. The Companies (a) may prepay the Obligations from time to time in accordance with the terms and provisions of the Note Notes (and Section 17 hereof if such prepayment is due to a termination of this Agreement); (b) shall repay the Term Loan on the Maturity Date (as defined in the Secured Convertible Term Note (i) the then aggregate outstanding principal balance of the Term Loan together with accrued and unpaid interest, fees and charges and; (ii) all other amounts owed Laurus under Secured Convertible Term Note, (c) shall repay the Revolving Loans on the expiration of the Term (i) the then aggregate outstanding principal balance of the Revolving Loans together with accrued and unpaid interest, fees and charges and; (ii) all other amounts owed Lender Laurus under this Agreement and the Ancillary Agreements; and (cd) absent approval of Permitted Overadvance by Lender pursuant subject to Section 2(a)(ii), shall repay on any day on which the then aggregate outstanding principal balance of the Loans are in excess of the Formula Amount at such time, Loans in an amount equal to such excess and (d) shall repay any Permitted Overadvance on the date specified by Lender upon approval of such Permitted Overadvanceexcess. Any payments of principal, interest, fees or any other amounts payable hereunder or under any Ancillary Agreement shall be made prior to 12:00 noon 2:00 p.m. (New York time) on the due date thereof in immediately available funds.

Appears in 1 contract

Samples: Security and Purchase Agreement (Time America Inc)

Repayment of the Loans. The Companies (a) may prepay the Obligations from time to time in accordance with the terms and provisions of the Note Notes (and Section 17 hereof if such prepayment is due to a termination of this Agreement); (b) shall repay on the Maturity Date (as defined in the Secured Non-Convertible Term Note) (i) the then aggregate outstanding principal balance of the Term Loan together with accrued and unpaid interest, fees and charges and: (ii) all other amounts owed Laurus under the Secured Non-Convertible Term Note; (c) shall repay on the expiration of the Term (i) the then aggregate outstanding principal balance of the Revolving Loans together with accrued and unpaid interest, fees and charges and; (ii) all other amounts owed Lender Laurus under this Agreement and the Ancillary Agreements; and (c) absent approval of Permitted Overadvance by Lender pursuant subject to Section 2(a)(ii), shall repay on any day on which the then aggregate outstanding principal balance of the Loans are in excess of the Formula Amount at such time, Loans in an amount equal to such excess and (d) shall repay any Permitted Overadvance on the date specified by Lender upon approval of such Permitted Overadvanceexcess. Any payments of principal, interest, fees or any other amounts payable hereunder or under any Ancillary Agreement shall be made prior to 12:00 noon 3:00 p.m. (New York time) on the due date thereof in immediately available funds.

Appears in 1 contract

Samples: Security and Purchase Agreement (Ronco Corp)

Repayment of the Loans. The Companies (a) may prepay the Obligations ------------------------- from time to time in accordance with the terms and provisions of the Note Notes (and Section 17 hereof if such prepayment is due to a termination of this Agreement); (b) shall repay on the Maturity Date (as defined in the Secured Term Note) (i) the then aggregate outstanding principal balance of the Term Loan together with accrued and unpaid interest, fees and charges and: (ii) all other amounts owed Laurus under the Secured Term Note; (c) shall repay on the expiration of the Term (i) the then aggregate outstanding principal balance of the Revolving Loans together with accrued and unpaid interest, fees and charges and; (ii) all other amounts owed Lender Laurus under this Agreement and the Ancillary Agreements; and (c) absent approval of Permitted Overadvance by Lender pursuant subject to Section 2(a)(ii), shall repay on any day on which the then aggregate outstanding principal balance of the Loans are in excess of the Formula Amount at such time, Loans in an amount equal to such excess and (d) shall repay any Permitted Overadvance on the date specified by Lender upon approval of such Permitted Overadvanceexcess. Any payments of principal, interest, fees or any other amounts payable hereunder or under any Ancillary Agreement shall be made prior to 12:00 noon (New York time) on the due date thereof in immediately available funds.

Appears in 1 contract

Samples: Security Agreement (Trinity Learning Corp)

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Repayment of the Loans. The Companies (a) may prepay the Obligations from time to time in accordance with the terms and provisions of the Note Notes (and Section 17 hereof if such prepayment is due to a termination of this Agreement); (b) shall repay on the Maturity Date (as defined in the Secured Non-Convertible Term Note) (i) the then aggregate outstanding principal balance of the Term Loan together with accrued and unpaid interest, fees and charges and: (ii) all other amounts owed Laurus under the Secured Non-Convertible Term Note; (c) shall repay on the expiration of the Revolving Term (i) the then aggregate outstanding principal balance of the Revolving Loans together with accrued and unpaid interest, fees and charges and; (ii) all other amounts owed Lender Laurus under this Agreement and the Ancillary Agreements; and (c) absent approval of Permitted Overadvance by Lender pursuant subject to Section 2(a)(ii), shall repay on any day on which the then aggregate outstanding principal balance of the Loans are in excess of the Formula Amount at such time, Loans in an amount equal to such excess and (d) shall repay any Permitted Overadvance on the date specified by Lender upon approval of such Permitted Overadvanceexcess. Any payments of principal, interest, fees or any other amounts payable hereunder or under any Ancillary Agreement shall be made prior to 12:00 noon (New York time) on the due date thereof in immediately available funds.

Appears in 1 contract

Samples: Security and Purchase Agreement (Micro Component Technology Inc)

Repayment of the Loans. The Companies (a) may prepay the Obligations from time to time in accordance with the terms and provisions of the Note Notes (and Section 17 hereof if such prepayment is due to a termination of this Agreement); (b) shall repay on the Maturity Date (as defined in the Secured Term Notes) (i) the then aggregate outstanding principal balance of the Term Loan together with accrued and unpaid interest, fees and charges; and (ii) all other amounts owed the Lenders under the Secured Term Notes; (c) shall repay on the expiration of the Term (i) the then aggregate outstanding principal balance of the Revolving Loans together with accrued and unpaid interest, fees and charges andcharges; and (ii) all other amounts owed Lender the Creditor Parties under this Agreement and the Ancillary Agreements; and (cd) absent approval of Permitted Overadvance by Lender pursuant subject to Section 2(a)(ii), shall repay on any day on which the then aggregate outstanding principal balance of the Revolving Loans are in excess of the Formula Amount at such time, the Revolving Loans in an amount equal to such excess and (d) shall repay any Permitted Overadvance on the date specified by Lender upon approval of such Permitted Overadvanceexcess. Any payments of principal, interest, fees or any other amounts payable hereunder or under any Ancillary Agreement shall be made prior to 12:00 noon (New York time) on the due date thereof in immediately available funds.

Appears in 1 contract

Samples: Security Agreement (NewMarket Technology Inc)

Repayment of the Loans. The Companies (a) may prepay the Obligations from time to time in accordance with the terms and provisions of the Note Notes (and Section 17 18 hereof if such prepayment is due to a termination of this Agreement); (b) shall repay on the Maturity Date (as defined in the Secured Term Note) (i) the then aggregate outstanding principal balance of the Term Loan together with the accrued and unpaid interest, fees and charges; and (ii) all other amounts owed the Creditor Parties under the Secured Term Note; (c) shall repay on the expiration of the Term (i) the then aggregate outstanding principal balance of the Revolving Loans together with accrued and unpaid interest, fees and charges andcharges; and (ii) all other amounts owed Lender the Creditor Parties under this Agreement and the Ancillary Agreements; and (c) absent approval of Permitted Overadvance by Lender pursuant subject to Section 2(a)(ii), shall repay on any day on which the then aggregate outstanding principal balance of the Revolving Loans are in excess of the Formula Amount at such time, the Revolving Loans in an amount equal to such excess and (d) shall repay any Permitted Overadvance on the date specified by Lender upon approval of such Permitted Overadvanceexcess. Any payments of principal, interest, fees or any other amounts payable hereunder or under any Ancillary Agreement shall be made prior to 12:00 noon 1:00 pm (New York time) on the due date thereof in immediately available funds.”

Appears in 1 contract

Samples: Omnibus Amendment (Sten Corp)

Repayment of the Loans. The Companies (a) may prepay the Obligations from time to time in accordance with the terms and provisions of the Note Notes (and Section 17 18 hereof if such prepayment is due to a termination of this Agreement); (b) shall repay on the Maturity Date (as defined in the Secured Term Notes) (i) the then aggregate outstanding principal balance of the Term Loans together with accrued and unpaid interest, fees and charges; and (ii) all other amounts owed the Lenders under the Secured Term Notes; (c) shall repay on the expiration of the Term (i) the then aggregate outstanding principal balance of the Revolving Loans together with accrued and unpaid interest, fees and charges andcharges; and (ii) all other amounts owed Lender the Creditor Parties under this Agreement and the Ancillary Agreements; and (cd) absent approval of Permitted Overadvance by Lender pursuant subject to Section 2(a)(ii), shall repay on any day on which the then aggregate outstanding principal balance of the Revolving Loans are in excess of the Formula Amount at such time, the Revolving Loans in an amount equal to such excess and (d) shall repay any Permitted Overadvance on the date specified by Lender upon approval of such Permitted Overadvanceexcess. Any payments of principal, interest, fees or any other amounts payable hereunder or under any Ancillary Agreement shall be made prior to 12:00 noon (New York time) on the due date thereof in immediately available funds.

Appears in 1 contract

Samples: Security Agreement (Rapid Link Inc)

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