Common use of Termination of Commitment to Lend Clause in Contracts

Termination of Commitment to Lend. Notwithstanding anything in the Loan Documents, Lender's obligation to lend the undisbursed portion of the Commitment Amount to Borrower hereunder shall terminate on the earlier of (i) at Lender's sole election, the occurrence of any Event of Default hereunder, (ii) with respect to Loan A, the Commitment Termination Date Loan A and (iii) with respect to Loan B, the Commitment Termination Date Loan B. Notwithstanding the foregoing, Lender's obligation to lend the undisbursed portion of the Commitment Amount to Borrower shall terminate if, in Lender's sole judgment, there has been a material adverse change in the general affairs, results of operations or financial condition of Borrower, whether or not arising from transactions in the ordinary course of business, or there has been any material adverse deviation by Borrower from the business plan of Borrower presented to Lender on or before the date of this Agreement.

Appears in 1 contract

Samples: Venture Loan and Security Agreement (Convio, Inc.)

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Termination of Commitment to Lend. Notwithstanding anything in the Loan Documents, Lender's ’s obligation to lend the undisbursed portion of the Commitment Amount to Borrower hereunder shall terminate on the earlier of (i) at the Lender's ’s sole election, the occurrence and continuance of any Default or Event of Default hereunder, or (ii) with respect to Loan A, the Commitment Termination Date Loan A and (iii) with respect to Loan B, the Commitment Termination Date Loan B. Date. Notwithstanding the foregoing, Lender's ’s obligation to lend the undisbursed portion of the Commitment Amount to Borrower shall terminate if, in Lender's ’s sole judgment, there has been a material adverse change in the general affairs, management, results of operations operations, or condition (financial condition or otherwise) or prospects of Borrower, whether or not arising from transactions in the ordinary course of business, or there has been any material adverse deviation by Borrower from the business plan of Borrower presented to and not disapproved by Lender on or before (a “Material Adverse Change”), since the date of this Agreement.Amendment 02. In Section 2.4, “Amortization of Principal and Interest, Interim Payment, Final Payment,” the following sections shall be amended and restated in their entirety to read:

Appears in 1 contract

Samples: And Security Agreement (Hemosense Inc)

Termination of Commitment to Lend. Notwithstanding anything in the Loan Documents, each Lender's obligation to lend the undisbursed portion of the such Lender's Commitment Amount to Borrower hereunder shall terminate on the earlier of (i) at such Lender's sole election, the occurrence of any Default or Event of Default hereunder, and (ii) with respect to Loan A, the Commitment Termination Date Loan A and (iii) with respect to Loan B, the Commitment Termination Date Loan B. Date. Notwithstanding the foregoing, each Lender's obligation to lend the undisbursed portion of the such Lender's Commitment Amount to Borrower shall terminate if, in such Lender's sole judgment, there has been a material adverse change in the general affairs, management, results of operations or condition (financial condition or otherwise) of Borrower, whether or not arising from transactions in the ordinary course of business, or there has been any material adverse deviation by Borrower from the business plan of Borrower presented to Lender Lenders on or before the date of this Agreement.. Each Lender shall provide Borrower written notice of such

Appears in 1 contract

Samples: Equipment Loan and Security Agreement (Egenera, Inc.)

Termination of Commitment to Lend. Notwithstanding anything in the Loan DocumentsDocuments to the contrary, each respective Lender's ’s obligation to lend the undisbursed portion of the its Commitment Amount to Borrower hereunder shall terminate on the earlier of (i) at such Lender's ’s sole election, the occurrence of any Event of Default hereunder, and (ii) with respect to Loan A, the Loan A Commitment Termination Date Loan A and (iii) with respect to Loan B, the Loan B Commitment Termination Date Loan B. Date. Notwithstanding the foregoing, each Lender's ’s obligation to lend the undisbursed portion of the its Commitment Amount to Borrower shall terminate if, in such Lender's ’s sole judgmentdiscretion, there has been a material adverse change in the general affairs, management, results of operations operations, condition (financial or financial condition otherwise) or prospects of Borrower, whether or not arising from transactions in the ordinary course of business, or there has been any material adverse deviation by Borrower from the business plan of Borrower presented to Lender Lenders on or before the date of this Agreement.

Appears in 1 contract

Samples: Venture Loan and Security Agreement (Palatin Technologies Inc)

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Termination of Commitment to Lend. Notwithstanding anything in the Loan Documents, Lender's obligation to lend the undisbursed portion of the Commitment Credit Amount to Borrower hereunder shall terminate on the earlier of (i) at Lender's sole election, the occurrence and during the continuance of any Default or Event of Default hereunderhereunder which has not been cured or specifically waived in writing by Lender, and (ii) with respect to Loan A, the Commitment Termination Date Loan A and (iii) with respect to Loan B, the Commitment Termination Date Loan B. Date. Notwithstanding the foregoing, Lender's obligation to lend the undisbursed portion of the Commitment Credit Amount to Borrower shall terminate if, in Lender's sole judgment, there has been a material adverse change in the general affairs, management, results of operations operations, condition (financial or financial condition otherwise) or prospects of Borrower, whether or not arising from transactions in the ordinary course of business, or there has been any material adverse deviation by Borrower from the business plan of Borrower presented to Lender on or before and not disapproved by Lender, since the date of this Agreement.

Appears in 1 contract

Samples: Loan and Security Agreement (Depomed Inc)

Termination of Commitment to Lend. Notwithstanding anything in the Loan Documents, each Lender's obligation to lend the undisbursed portion of the such Lender's Commitment Amount to Borrower hereunder shall terminate on the earlier of (i) at Lender's the Requisite Lenders' sole election, the occurrence and continuance of any Default or Event of Default hereunder, and (ii) with respect to Loan A, the Commitment Termination Date Loan A and (iii) with respect to Loan B, the Commitment Termination Date Loan B. Date. Notwithstanding the foregoing, each Lender's obligation to lend the undisbursed portion of the such Lender's Commitment Amount to Borrower shall terminate if, in Lender's Requisite Lenders' sole judgment, there has been a material adverse change in the general affairs, management, results of operations operations, condition (financial or financial condition otherwise) or prospects of Borrower, whether or not arising from transactions in the ordinary course of business, or there has been any material adverse deviation by Borrower from the business plan of Borrower presented to Lender on or before and not disapproved by Requisite Lenders, since the date of this Agreement.

Appears in 1 contract

Samples: Landlord Agreement (Colo Com)

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