Common use of Termination of a Loan Clause in Contracts

Termination of a Loan. (i) Loans shall be terminable on demand. With the prior approval of Lender, however, Loans may be made on the basis of a reasonably anticipated termination date ("Term Loan") and without providing for the right of substitution of equivalent securities. Termination of a Term Loan prior to its anticipated termination date by either Lender or Borrower may result in the terminating party having to pay the non-terminating party damages based on the cost of obtaining a replacement loan. (ii) Chase shall terminate any Loan of Securities to a Borrower as soon as practicable after: (a) receipt by Chase of a notice of termination of the respective MSLA; (b) receipt by Chase of Written Instructions directing it to terminate a Loan; (c) receipt by Chase of Written Instructions it to delete from Appendix 1 the Borrower to whom such Loan was made; (d) receipt by Chase of Written Instructions advising that the Security subject to a Loan is no longer subject to the representations contained in Section 3 hereof; (e) receipt by Chase of notice advising that an Event of Default (as defined in the applicable MSLA) has occurred and is continuing

Termination of a Loan. (i) Loans shall be terminable on demand. With the prior approval of Lender, however, Loans may be made on the basis of a reasonably anticipated termination date ("Term Loan") and without providing for the right of substitution of equivalent securities. Termination of a Term Loan prior to its anticipated termination date by either Lender or Borrower may result in the terminating party having to pay the non-terminating party damages based on the cost of obtaining a replacement loan. (ii) Chase shall terminate any Loan of Securities to a Borrower as soon as practicable after: (a) receipt by Chase of a notice of termination of the respective MSLA; (b) receipt by Chase of Written Instructions directing it to terminate a Loan; (c) receipt by Chase of Written Instructions it to delete from Appendix 1 the Borrower to whom such Loan was made; (d) receipt by Chase of Written Instructions advising that the Security subject to a Loan is no longer subject to the representations contained in Section 3 hereof; (e) receipt by Chase of notice advising that an Event of Default (as defined in the applicable MSLA) has occurred and is continuingcontinuing beyond any applicable grace period; (f) whenever Chase, in its sole discretion,