Common use of Termination by Borrower Clause in Contracts

Termination by Borrower. Upon at least 90 days prior written notice to Lender, Borrower may, at its option, terminate this Agreement; provided, however, no such termination shall be effective until Borrower has paid all of the Obligations in immediately available funds. Any notice of termination given by Borrower shall be irrevocable unless Lender otherwise agrees in writing, and Lender shall have no obligation to make any Loans on or after the termination date stated in such notice. Borrower may elect to terminate this Agreement in its entirety only. No section of this Agreement or type of Loan available hereunder may be terminated singly.

Appears in 2 contracts

Samples: Loan and Security Agreement (KVH Industries Inc \De\), Loan and Security Agreement (Union Drilling Inc)

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Termination by Borrower. Upon at least 90 days prior written notice to LenderAgent, Borrower may, at its option, terminate this Agreementthe Commitments; provided, however, no such termination by Borrower shall be effective until Borrower has paid satisfied all of the Obligations in immediately available fundsObligations. Any notice of termination given by Borrower shall be irrevocable unless Lender Agent otherwise agrees in writing, and Lender shall have no obligation to make any Loans on or after the termination date stated in such notice. Borrower may elect to terminate this Agreement the Commitments in its their entirety only; provided, that nothing contained herein shall affect Borrower's right to reduce the Commitments as provided in Section 1.1.5 of this Agreement. No section of this Agreement or type Agreement, Type of Loan available hereunder or Commitment may be terminated by Borrower singly.

Appears in 2 contracts

Samples: Loan and Security Agreement (Dixie Group Inc), Loan and Security Agreement (Dixie Group Inc)

Termination by Borrower. Upon at least 90 days thirty (30) days’ prior written notice to LenderAgent and Lenders, Borrower may, at its option, terminate this Agreement; provided, however, that no such termination shall be effective until Borrower has paid complied with Section 2.2(f) and all of the Obligations in immediately available fundshave been paid. Any notice of termination given by Borrower shall be irrevocable unless Lender all Lenders otherwise agrees agree in writing, writing and no Lender shall have no any obligation to make any Loans or issue or procure any Letters of Credit or Support Agreements on or after the termination date stated in such notice. Borrower may elect to terminate this Agreement in its entirety only. No section of this Agreement or type of Loan available hereunder may be terminated singly.

Appears in 1 contract

Samples: Credit and Security Agreement (Staffing 360 Solutions, Inc.)

Termination by Borrower. Upon at least 90 ninety (90) days prior written notice to Lender, Borrower may, at its option, terminate this Agreement; providedPROVIDED, howeverHOWEVER, no such termination shall be effective until Borrower has paid all of the Obligations in immediately available funds. Any notice of termination given by Borrower shall be irrevocable unless Lender otherwise agrees in writing, and Lender shall have no obligation to make any Loans on or after the termination date stated in such notice. Borrower may elect to terminate this Agreement in its entirety only. No section of this Agreement or type of Loan available hereunder may be terminated singly.

Appears in 1 contract

Samples: Loan and Security Agreement (Media Sciences International Inc)

Termination by Borrower. Upon at least 90 days prior written notice to LenderAgent, Borrower may, at its option, terminate this Agreementthe Commitments; provided, however, no such termination by Borrower shall be effective until Borrower has paid satisfied all of the Obligations in immediately available fundsObligations. Any notice of termination given by Borrower shall be irrevocable unless Lender Agent otherwise agrees in writing, and Lender shall have no obligation to make any Loans on or after the termination date stated in such notice. Borrower may elect to terminate this Agreement the Commitments in its their entirety only; provided, that nothing contained herein shall affect Borrower's right to reduce the Commitments as provided in SECTION 1.1.5 of this Agreement. No section of this Agreement or type Agreement, Type of Loan available hereunder or Commitment may be terminated by Borrower singly.

Appears in 1 contract

Samples: Loan and Security Agreement (Dixie Group Inc)

Termination by Borrower. Upon at least 90 30 days prior written notice to LenderAgent, Borrower may, at its option, terminate this Agreementthe Commitments; provided, however, no such termination by Borrower shall be effective until Borrower has paid satisfied all of the Obligations and executed in immediately available fundsfavor of and delivered to Agent and Lenders a general release of all Claims that Borrower may have against Agent or any Lender. Any notice of termination given by Borrower shall be irrevocable unless Lender Agent otherwise agrees in writing, and Lender shall have no obligation to make any Loans on or after the termination date stated in such notice. Borrower may elect to terminate this Agreement the Commitments in its their entirety only. No section of this Agreement or type of Loan available hereunder Commitment may be terminated by Borrower singly.

Appears in 1 contract

Samples: Loan and Security Agreement (Amerigroup Corp)

Termination by Borrower. Upon at least 90 days prior written notice to Lender, Borrower may, at its option, terminate this Agreement; providedPROVIDED, howeverHOWEVER, no such termination shall be effective until Borrower has paid all of the Obligations in full in immediately available funds. Any notice of termination given by Borrower shall be irrevocable unless Lender otherwise agrees in writing, and Lender shall have no obligation to make any Loans on or after the termination date stated in such notice. Borrower may elect to terminate this Agreement in its entirety only. No section of this Agreement or type of Loan available hereunder may be terminated singly.

Appears in 1 contract

Samples: Loan and Security Agreement (Rowecom Inc)

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Termination by Borrower. Upon at least 90 days prior written notice to LenderAgent, Borrower may, at its option, terminate this Agreementthe Commitments; providedPROVIDED, howeverHOWEVER, no such termination by Borrower shall be effective until Borrower has paid satisfied all of the Obligations and executed in immediately available fundsfavor of and delivered to Lender a general release of all Claims that Borrower may have against Lender. Any notice of termination given by Borrower shall be irrevocable unless Lender Agent otherwise agrees in writing, and Lender shall have no obligation to make any Loans on or after the termination date stated in such notice. Borrower may elect to terminate this Agreement the Commitments in its their entirety only. No section of this Agreement or type Agreement, Type of Loan available hereunder or Commitment may be terminated by Borrower singly.

Appears in 1 contract

Samples: Loan and Security Agreement (Metromedia International Group Inc)

Termination by Borrower. Upon at least 90 sixty (60) days prior ------------------------ written notice to Lender, Borrower may, at its option, terminate this Agreement; provided, however, no such termination shall be effective until Borrower has paid all of the Obligations in immediately available funds. Any notice of termination given by Borrower shall be irrevocable unless Lender otherwise agrees in writing, and Lender shall have no obligation to make any Loans on or after the termination date stated in such notice. Borrower may elect to terminate this Agreement in its entirety only. No section of this Agreement or type of Loan available hereunder may be terminated singly.

Appears in 1 contract

Samples: Loan and Security Agreement (Seranova Inc)

Termination by Borrower. Upon at least 90 days prior written notice to LenderAgent, Borrower may, at its option, terminate this Agreementthe Commitments; provided, however, no such termination by Borrower shall be effective until Borrower has paid satisfied all of the Obligations and executed in immediately available fundsfavor of and delivered to Agent and Lenders a general release of all claims that Borrower may have against Agent or any Lender. Any notice of termination given by Borrower shall be irrevocable unless Lender Agent otherwise agrees in writing, and Lender shall have no obligation to make any Loans on or after the termination date stated in such notice. Borrower may elect to terminate this Agreement the Commitments in its their entirety only. No section of this Agreement or type Agreement, Type of Loan available hereunder or Commitment may be terminated by Borrower singly.

Appears in 1 contract

Samples: Financing Agreement (Emerge Interactive Inc)

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