Common use of Termination of Credit Clause in Contracts

Termination of Credit. (a) Unless the Termination Date is extended pursuant to clause (b) of this Section 11.7, the Credit shall terminate on the then-scheduled Termination Date. Borrower may terminate the Credit at any time prior to the Termination Date upon notice to Lender and payment in full of the outstanding principal balance of the Loans and all other Liabilities. All of Lender's rights and remedies, the liens and security interests of Lender in the Collateral and the Third Party Collateral and all of Borrower's duties and obligations under this Agreement shall survive termination of the Credit extended to Borrower hereunder until all of the Liabilities have been finally paid and performed in full. The termination or cancellation of the Credit shall not affect or impair the liabilities and obligations of Borrower or any one or more of the Obligors to Lender or Lender's rights with respect to any Loans and advances made and other Liabilities incurred prior to such termination or with respect to the Collateral or any Third Party Collateral.