Termination of the Credit Agreement. Effective upon consummation of the transactions described in Section 2.1(a), (i) all outstanding indebtedness (including, without limitation, for principal, interest and fees) and other Obligations of each Obligor under or relating to the Loan Documents shall be considered paid and satisfied in full and irrevocably discharged, terminated and released, (ii) all security interests and other liens granted to or held by the Administrative Agent or the Investors in the Collateral as security for the Obligations (the “Property”), if any, shall be automatically satisfied, released and discharged, without recourse, representation, warranty or other assurance of any kind, (iii) the Credit Agreement and the other Loan Documents shall terminate and be of no further force or effect, (iv) the Administrative Agent shall file UCC termination statements terminating the liens of the Administrative Agent for the benefit of the Investors on the Property of any Obligor securing the Obligations, (v) the Administrative Agent shall deliver to the Company agreements releasing the Administrative Agent’s security interests in intellectual property of the Obligors and (vi) the Company (and its designees) shall be authorized and directed, without further notice, to deliver a copy of this Agreement to any bank, landlord, warehouseman, insurance company, insurance broker or other person for the purpose of evidencing the termination and release of all security interests and liens granted to or held by the Administrative Agent or the Investors in the assets and Property of the Obligors pursuant to the Loan Documents, and thereafter, any contract, agreement, control, blocked account or deposit account agreement, collateral access agreement, warehousemen waiver, commitment to deliver insurance certificates and proceeds and the like executed by any Obligor in favor of the Administrative Agent or the Investors pursuant to the Loan Documents shall be automatically terminated, without further action or consent by the Administrative Agent or the Investors. Further, after the Closing Date, the Administrative Agent agrees to take all reasonable additional steps (at the expense of the Company) reasonably requested by the Company in writing as may be necessary to release their security interests in the Property securing the Obligations, except for any such steps that (x) would expose the Administrative Agent or any of the Investors or any officer of the Administrative Agent or any of the Investors ...
Termination of the Credit Agreement. The Company's option to require Xxxxxx to loan money pursuant to the Credit Agreement shall terminate upon the earlier of (a) July 31, 1999, (b) the termination of the Distribution Agreement pursuant to its terms (except for termination of the Distribution Agreement by Xxxxxx without cause) or otherwise resulting from a material breach or default by the Company of any covenant, condition or other provision thereof, or (c) notice from Xxxxxx following an Event of Default.
Termination of the Credit Agreement. The Parties agree that the Credit Agreement shall be terminated in its entirety and shall be of no further force or effect from the date of this Agreement.
Termination of the Credit Agreement. 14.1. The Credit agreement may be terminated by mutual agreement between the Parties.
Termination of the Credit Agreement. 14.1. This Credit Agreement may be terminated by either us or you, as set out in this section 14.
Termination of the Credit Agreement. Effective as of the Commencement Date, the Credit Agreement is hereby terminated with respect to all parties thereto, and neither the Bank, Honeywell, HFI nor any Subsidiary shall have any further obligations thereunder, except for those relating to (i) the repayment of any Loans, if any, outstanding as of the date hereof, (ii) any indemnities provided for therein with respect to any party which by their terms survive the termination of the Credit Agreement, or (iii) any fees due the Bank or any sums due the Bank for costs incurred pursuant to the terms of the Credit Agreement.
Termination of the Credit Agreement. Delshah and Judo hereby terminate immediately, for mutual convenience, the Credit Agreement and any amendments thereto. Effective immediately upon execution of this Termination Agreement, neither party shall have (except as otherwise expressly set forth in Sections 4 and 5 below) any obligation, responsibility, or liability to the other party for any reason whatsoever in connection with the Credit Agreement.
Termination of the Credit Agreement. MCA and Funding hereby terminate, without any cost or expense on the part of either party thereto, the Credit Agreement, subject to the payment in full by MCA of all amounts due to Funding thereunder.
Termination of the Credit Agreement. As of the Effective Date, all of the principal, interest and fees owing by the Borrower to the Lender under the Credit Agreement and all related loan and collateral documents as of the Effective Date will have been paid, satisfied and discharged The Borrower hereby acknowledges and agrees that, pursuant to its notice heretofore delivered to the Lender regarding the termination of all the commitments and reduction of the outstanding principal amount of all Loans, together with all accrued interest thereon to zero, and the termination of the Credit Agreement and all the other Loan Documents, the Borrower has no right to request, and shall not request, any such credit extension under the Credit Agreement.
Termination of the Credit Agreement. 30 TAX APPENDIX TO OPERATING AGREEMENT ALLOCATION OF PROFITS AND LOSSES 1 EXHIBIT LIST: EXHIBIT A – Members, Capital Contributions, and Capitalization EXHIBIT B – Moog IP EXHIBIT C – Workhorse IP EXHIBIT D – License Agreement Terms This document does not contain Technical Data or Technology as defined in the ITAR Part 120.10 or EAR Part 772 THIS OPERATING AGREEMENT (“Agreement”) of CERTUS UNMANNED AERIAL SYSTEMS LLC, a Delaware limited liability company (the “Company”), formed pursuant to the provisions of the Delaware Limited Liability Company Act (such act, as amended from time to time, or any corresponding provisions of succeeding law, the “Act”), is entered into as of November 27, 2019, (the “Effective Date”) by and between WORKHORSE GROUP INC., a Nevada corporation (“Workhorse”), and MOOG INC., a New York corporation, acting through its Aircraft Group (“Moog”), such execution to evidence the mutual agreement of the Members to implement an Operating Agreement under the provisions of the Act, for the purposes and upon the terms and conditions hereinafter set forth. Reference to an Article, Section, or paragraph means an Article, Section, or paragraph of this Agreement, unless otherwise specified.
