Termination Prior to Maturity Clause Samples
Termination Prior to Maturity. This Agreement may be terminated prior to the Term Loan 2015 Maturity Date or the Equipment Term Loan 2015 Maturity Date by Borrower, effective three (3) Business Days after written notice of termination is given to Bank. Notwithstanding any such termination, Bank’s lien and security interest in the Collateral shall continue until Borrower fully satisfies its Obligations. In connection with such termination, Borrower shall pay to Bank, in addition to all other Obligations then owing, the prepayment premium set forth in Section 2.1.6(c). ” 7 The loan Agreement shall be amended by inserting the following definitions in Section 13.1 thereof, each in its appropriate alphabetical order:
Termination Prior to Maturity. The Debtor may terminate this Note by delivering written notice of termination to the Lender at any time and for any reason provided that, the effective date of any such early termination shall be deemed the Maturity Date.
Termination Prior to Maturity. Survival. All covenants, representations and warranties made in this Agreement continue in full force until all Obligations (other than contingent indemnification obligations as to which no claim has been asserted or is known to exist and any other obligations which, by their terms, are to survive the termination of this Agreement) have been satisfied in full, in cash and Bank no longer has any obligation to extend credit to a Borrower. So long as Borrowers have satisfied in full the Obligations (other than contingent indemnification obligations as to which no claim has been asserted or is known to exist and any other obligations which, by their terms, are to survive the termination of this Agreement) in cash, and all Bank Services which are to survive the termination of this Agreement have been cash collateralized, as required by Bank, (a) this Agreement may be terminated prior to the maturity of all Credit Extensions outstanding by Borrowers, effective three (3) Business Days after written notice of termination is given to Bank and (b) Bank shall, at the sole cost and expense of Borrowers, execute and deliver such instruments and documents evidencing the release and termination of the security interests granted by Loan Parties to Bank hereunder and under the other Loan Documents. Those obligations that are expressly specified in this Agreement as surviving this Agreement’s termination shall continue to survive notwithstanding this Agreement’s termination.