Common use of Termination by Borrowers Clause in Contracts

Termination by Borrowers. Upon at least thirty (30) days’ prior written notice to Lender, Borrowers may, at their option, terminate this Agreement. Any notice of termination given by Borrowers shall be irrevocable unless Lender otherwise agrees in writing and Lender shall not have any obligation to make the Term Loan on or after the termination date stated in such notice. Borrowers 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: Credit, Security and Guaranty Agreement (Alphatec Holdings, Inc.), Credit, Security and Guaranty Agreement (Alphatec Holdings, Inc.)

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Termination by Borrowers. Upon at least thirty (30) days’ prior written notice to Lender, Borrowers may, at their option, terminate this Agreement. Any notice of termination given by Borrowers shall be irrevocable unless Lender otherwise agrees in writing and Lender shall not have any obligation to make the Term Loan any Loans on or after the termination date stated in such notice. Borrowers 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, Security and Guaranty Agreement (Alphatec Holdings, Inc.)

Termination by Borrowers. Upon at least thirty (30) days’ prior written notice to LenderAgent and Lenders, Borrowers may, at their its option, terminate this Agreement; provided, however, that no such termination shall be effective until Borrowers have (i) paid all of the Obligations in immediately available funds and (ii) complied with Section 2.2(f) and the terms of the Fee Letter resulting from such termination. Any notice of termination given by Borrowers shall be irrevocable unless Lender all Lenders otherwise agrees agree in writing and no Lender shall not have any obligation to make the Term Loan any Loans on or after the termination date stated in such notice. Borrowers 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.the

Appears in 1 contract

Samples: Credit and Security Agreement (Kewaunee Scientific Corp /De/)

Termination by Borrowers. Upon at least thirty (30) days’ prior written notice to LenderAgent and Lenders, Borrowers may, at their its option, terminate this Agreement. Any notice of termination given by Borrowers shall be irrevocable unless Lender all Lenders otherwise agrees agree in writing and no Lender shall not have any obligation to make the Term Loan any Loans on or after the termination date stated in such notice. Borrowers 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 (BioTelemetry, Inc.)

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Termination by Borrowers. Upon Borrowers may terminate this Agreement at least thirty any time upon not less than ten (3010) days’ prior written notice to Lender, Borrowers may, at their option, terminate this Agreement. Any notice Lender and upon full performance and payment in full in cash of termination given by Borrowers shall be irrevocable unless Lender otherwise agrees in writing all Obligations (other than indemnity and Lender shall not have any obligation reimbursement obligations with respect to make the Term Loan which no claim has been made) on or prior to the 10th calendar day after the termination date stated in receipt by Lender of such written notice. Borrowers 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 (Fuse Medical, Inc.)

Termination by Borrowers. Upon at least thirty ninety (3090) days’ days prior written notice to Lender, Borrowers may, at their option, terminate this Agreement; provided, however, no such termination shall be effective until Borrowers have paid all of the Obligations in immediately available funds. Any notice of termination given by Borrowers shall be irrevocable unless Lender otherwise agrees in writing writing, and Lender shall not have any no obligation to make the Term Loan any Loans on or after the termination date stated in such notice. Borrowers may elect to terminate this Agreement in its their entirety only. No section of this Agreement or type Type of Loan available hereunder may be terminated singly.

Appears in 1 contract

Samples: And Consolidated Loan and Security Agreement (Eagle Supply Group Inc)

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