Acceleration Upon Termination. Upon the effective date of termination under Section 11.1, 11.2, 11.3, or Section 13.1 (the “Facility Termination Date”), (i) all Loans and all other Obligations will automatically and immediately become due and payable, and (ii) Bank’s obligations under this Agreement and the other Loan Documents arising on and after that effective date of termination will automatically terminate immediately, without notice or demand, which Borrower hereby expressly waives.
Acceleration Upon Termination. Xxxxxx acknowledges and agrees that, in the event of termination of this Agreement, for any reason and under any circumstances, Lessor has the right to accelerate payment of the Public Improvements Use Fee payments due from Lessee under the Public Improvements Use Fee Agreement to the extent that termination of this Agreement results in an acceleration of the indebtedness owed by Lessor under the Loan Agreement or the Public Improvements Use Fee Note. This section shall not be modified by Lessor and Xxxxxx without MBOI’s prior written consent. Such acceleration shall not terminate Xxxxxx’s rights as set forth in Section 26 herein.
Acceleration Upon Termination. 59 11.4 Borrowers Remains Liable ............................. 59 12.
Acceleration Upon Termination. Upon the effective date of any termination of this Agreement, all of each Borrower' s and each Guarantor Subsidiary' 5 Obligations to Bank shall become immediately due and payable without notice or demand.
Acceleration Upon Termination. Upon the effective date of termination, all of the Borrowers' Obligations to the Banks shall become immediately due and payable without notice, presentment or demand, which the Borrowers expressly waive. If this Agreement is terminated upon the occurrence or during the continuance of an Event of Default, the Obligations shall include an amount equal to the termination fee and any fees described in Sections 3.4, 3.5 and 3.7 hereof which would be payable by the Borrowers if the Borrowers had terminated this Agreement pursuant to Section 11.3 as of the last day of the month in which the Agent terminates this Agreement, said amounts to compensate the Agent and the Banks for loss of bargain with respect to the credit advanced hereunder, and not as a penalty.
Acceleration Upon Termination. Notwithstanding the foregoing, (i) if the Optionee’s employment with the Company and its subsidiaries is terminated due to the Optionee’s disability (as determined by the Administrator) or death, the Optionee shall be eligible to vest, on the Vesting Date, with respect to a pro-rated portion of the Option Shares that would have vested and become exercisable had the Optionee’s employment not terminated prior to the Vesting Date, calculated based on (A) the number of days from the Grant Date through the date of the Optionee’s termination of employment divided by (B) the number of days from the Grant Date through the Vesting Date, only if the Company achieves the performance targets described in Paragraph 1 above, or (ii) if the Optionee’s employment with the Company and its subsidiaries is terminated by the Company without Cause or by the Optionee for Good Reason, subject to the Optionee signing of the Separation Agreement (as defined in the Employment Agreement) and the Separation Agreement becoming irrevocable, all within 60 days after the date of termination of employment, the Optionee shall be eligible to vest, on the later of (x) the Vesting Date or (y) the effective date of the Separation Agreement (such date the “Accelerated Vesting Date”), with respect to a pro-rated portion of the Option Shares that would have vested and become exercisable had the Optionee’s employment not terminated prior to the Vesting Date, calculated based on (A) the number of days from the Grant Date through the date the Optionee’s termination of employment divided by (B) the number of days from the Grant Date through the Vesting Date, only if the Company achieves the performance targets described in Paragraph 1 above. Any termination or forfeiture of unvested Option Shares that could vest pursuant to subsection (ii) of the prior sentence and otherwise would have occurred on or prior to the Accelerated Vesting Date will be delayed until the Accelerated Vesting Date. For the avoidance of doubt, if the offer of the Separation Agreement expires or if the Separation Agreement is timely executed but revoked, the termination or forfeiture of unvested Option Shares shall occur effective upon such expiration or revocation. The Administrator’s determination of the reason for termination of the Optionee’s employment shall be conclusive and binding on the Optionee and his representatives or legatees.
Acceleration Upon Termination. Notwithstanding the foregoing, if the Optionee’s employment with the Company and its subsidiaries is terminated (i) due to the Optionee’s disability (as determined by the Administrator) or death, this Stock Option shall automatically become fully vested and exercisable, subject to the provisions of the Plan, as of the date of the Optionee’s termination of employment, or (ii) by the Company without Cause or by the Optionee for Good Reason, subject to the Optionee signing of the Separation Agreement (as defined in the Employment Agreement) and the Separation Agreement becoming irrevocable, all within 60 days after the date of termination of employment, this Stock Option shall automatically become fully vested and exercisable as of the later of (x) the date of termination of employment, or (y) the effective date of the Separation Agreement (such date the “Accelerated Vesting Date”). Any termination or forfeiture of unvested Option Shares that could vest pursuant to subsection (ii) of the prior sentence and otherwise would have occurred on or prior to the Accelerated Vesting Date will be delayed until the Accelerated Vesting Date. For the avoidance of doubt, if the offer of the Separation Agreement expires or if the Separation Agreement is timely executed but revoked, the termination or forfeiture of unvested Option Shares shall occur effective upon such expiration or revocation. The Administrator’s determination of the reason for termination of the Optionee’s employment shall be conclusive and binding on the Optionee and his representatives or legatees.
Acceleration Upon Termination. Upon the effective date of termination, all of Borrower's Obligations to Bank shall become immediately due and payable without notice or demand. If this Agreement is terminated upon the occurrence or during the continuance of an Event of Default, the Obligations shall include an amount equal to the termination fee and the fees described in SECTION 3.7 and SECTION 3.8 hereof which would be payable by Borrower if Borrowers had terminated this Agreement pursuant to SECTION 11.3 as of the last day of the month in which Bank terminates this Agreement, said amounts to compensate Bank for loss of bargain with respect to the credit advanced hereunder, and not as a penalty.
