Common use of Termination by Borrower Clause in Contracts

Termination by Borrower. The Borrower may terminate this Agreement at any time and, subject to payment and performance of all Obligations, may obtain any release or termination of the Security Interest to which the Borrower is otherwise entitled by law by: (i) giving at least 30 days' prior written notice to the Lender of the Borrower's intention to terminate this Agreement, (ii) terminating the Norwest Bank Credit Agreement pursuant to the terms thereof, and (iii) paying the Lender a prepayment fee in accordance with subsection (b) if the Borrower terminates this Agreement effective as of any date other than a Maturity Date.

Appears in 1 contract

Samples: Credit and Security Agreement (Nicollet Process Engineering Inc)

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Termination by Borrower. The Borrower may terminate this Agreement at any time and, subject to payment and performance of all Obligations, may obtain any release or termination of the Security Interest to which the Borrower is otherwise entitled by law by: by (i1) giving at least 30 days' prior written notice to the Lender of the Borrower's intention to terminate this Agreement, (ii) terminating the Norwest Bank Credit Agreement pursuant to the terms thereof, and (iii2) paying the Lender a prepayment fee in accordance with subsection (bSection 2.5(b) if the Borrower terminates this Agreement effective as of any date other than a Maturity Termination Date.

Appears in 1 contract

Samples: Credit and Security Agreement (Vicom Inc)

Termination by Borrower. The Borrower may terminate this Agreement at any time and, subject to payment and performance of all Obligations, may obtain any release or termination of the Security Interest to which the Borrower is otherwise entitled by law by: (i) by giving at least 30 days' prior written notice to the Lender of the Borrower's intention to terminate this Agreement, (ii) terminating the Norwest Bank Credit Agreement pursuant to the terms thereof, and (iii) paying the Lender a prepayment fee in accordance with subsection (b) Section if the Borrower terminates this Agreement effective as of any date other than a Maturity Termination Date.. (b) (c)

Appears in 1 contract

Samples: Credit and Security Agreement (Minnesota Brewing Co)

Termination by Borrower. The Borrower may terminate this Agreement at any time and, subject to payment and performance of all Obligations, may obtain any release or termination of the Security Interest to which the Borrower is otherwise entitled by law by: by (i) giving at least 30 days' prior written notice to the Lender of the Borrower's intention to terminate this Agreement, (ii) terminating the Norwest Bank Credit Agreement pursuant to the terms thereof, and (iii) paying the Lender a prepayment fee in accordance with subsection (b) if the Borrower terminates this Agreement effective as of any date other than a Maturity Date.

Appears in 1 contract

Samples: Credit and Security Agreement (Rsi Systems Inc/Mn)

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Termination by Borrower. The Borrower may terminate this Agreement at any time and, subject to payment and performance of all Obligations, may obtain any release or termination of the Security Interest to which the Borrower is otherwise entitled by law by: by (i1) giving at least 30 days' prior written notice to the Lender of the Borrower's intention to terminate this Agreement, (ii) terminating the Norwest Bank Credit Agreement pursuant to the terms thereof, and (iii2) paying the Lender a prepayment fee in accordance with subsection (bSection 2.5(b) if the Borrower terminates this Agreement effective as of any date other than a Maturity the Termination Date.

Appears in 1 contract

Samples: Credit and Security Agreement (Digital Biometrics Inc)

Termination by Borrower. The Borrower may terminate this Agreement at any time and, subject to payment and performance of all Obligations, may obtain any release or termination of the Security Interest to which the Borrower is otherwise entitled by law by: by (i1) giving at least 30 days' prior written notice to the Lender of o the Borrower's intention to terminate this Agreement, (ii) terminating the Norwest Bank Credit Agreement pursuant to the terms thereof, and (iii2) paying the Lender a prepayment fee in accordance with subsection Section 2.5 (b) if the Borrower terminates this Agreement effective as of any date other than a Maturity Termination Date.

Appears in 1 contract

Samples: Credit and Security Agreement (Cima Labs Inc)

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