Common use of Termination by Borrower Clause in Contracts

Termination by Borrower. (a) Borrower may terminate this Agreement, without penalty, upon any anniversary date of the execution hereof by giving Lender no less than sixty (60) days prior written notice. This Agreement shall terminate upon the anniversary date if and only if Borrower has on the anniversary date paid to Lender in full all of the Obligations.

Appears in 1 contract

Samples: Loan Security and Service Agreement (Auto Underwriters of America, Inc.)

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Termination by Borrower. (a) Borrower may terminate this Agreement, without penalty, upon Agreement at any time on or after the second (2nd) annual anniversary date of the execution hereof by of this Agreement, upon giving Lender no not less than sixty thirty (6030) days days' prior irrevocable written notice. This In the event Borrower seeks to terminate this Agreement shall terminate upon the prior to such second anniversary date if and only if Borrower has on or without the anniversary date paid giving of adequate notice, then in addition to Lender in full the payment of all of the Obligations.Borrower's obligations to Lender, in full, together with all accrued interest, fees and charges, there shall also be due and payable a termination fee as follows:

Appears in 1 contract

Samples: Loan and Security Agreement (Programmers Paradise Inc)

Termination by Borrower. (a) Borrower may terminate this Agreement, without penaltytermination charge, upon any anniversary date as of the execution hereof second or any subsequent anniversary of the date stated at the beginning of this Agreement, by giving Lender no less than sixty at least ninety (6090) days written notice prior written notice. This Agreement shall terminate upon to the anniversary date if and only if on which the Borrower has intends to terminate, provided that on the such anniversary date paid to Lender in full all the principal and interest of the ObligationsRevolving Loans, and all other Obligations under this Agreement and the Relevant Documents have been paid in full.

Appears in 1 contract

Samples: Revolving Loan and Security Agreement (Measurement Specialties Inc)

Termination by Borrower. (a) Borrower may terminate this Agreement, without penalty, upon any anniversary date of the execution hereof by giving Lender no less than sixty (60) days prior written notice. This Agreement shall terminate upon the anniversary date if and only if the Borrower has on the anniversary date paid to the Lender in full all of the Obligations.

Appears in 1 contract

Samples: Security and Service Agreement (Easy Money Holding Corp)

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Termination by Borrower. (a) Borrower may terminate this Agreement, without penalty, upon any anniversary date of the execution hereof by giving Lender no less than sixty (60sixty(60) days prior written notice. This Agreement shall terminate upon the anniversary date if and only if the Borrower has on the anniversary date paid to the Lender in full all of the Obligations.

Appears in 1 contract

Samples: Loan, Security and Service Agreement (Thatlook Com Inc/Nv)

Termination by Borrower. (a) Borrower may terminate this Agreement, without penalty, upon any anniversary date of the execution hereof by giving Lender no less than sixty (60) days prior written notice. Borrower may rescind a termination notice to Lender at any time prior to the anniversary date referred to in this paragraph. This Agreement shall terminate upon the anniversary date if and only if the Borrower has on the anniversary date paid to the Lender in full all of the Obligations.

Appears in 1 contract

Samples: Loan, Security and Service Agreement (TFC Enterprises Inc)

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