Common use of Binding Effect; Assignment; Termination Clause in Contracts

Binding Effect; Assignment; Termination. This letter agreement shall --------------------------------------- be binding upon the Borrower, its successors and assigns and shall inure to the benefit of the Borrower and the Bank and their respective permitted successors and assigns. The Borrower may not assign this letter agreement or any rights hereunder without the express written consent of the Bank. The Bank may, in accordance with applicable law, from time to time assign or grant participations in this letter agreement, the Loans, the Notes and/or any letters of credit issued hereunder. The Borrower may terminate this letter agreement and the financing arrangements made herein by giving written notice of such termination to the Bank, together with the payment described in the third sentence of (S)6.3; provided that no such termination will release or waive any of the Bank's rights or remedies or any of the Borrower's obligations under this letter agreement or any of the other Loan Documents unless and until the Borrower has paid in full all Loans and all interest thereon and all fees and charges payable in connection therewith and all letters of credit issued hereunder have been terminated.

Appears in 1 contract

Samples: Letter Agreement (Peritus Software Services Inc)

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Binding Effect; Assignment; Termination. This letter agreement Agreement shall --------------------------------------- be binding upon the Borrower, its successors and assigns and shall inure to the benefit of the Borrower and the Bank Lender and their respective permitted successors and assigns. The Borrower may not assign this letter agreement Agreement or any rights hereunder without the express written consent of the BankLender. The Bank Lender may, in accordance with applicable lawlaw and without notice to or consent of the Borrower, from time to time assign or grant participations in this letter agreementAgreement, the Loans, Term Loans and/or the Notes and/or any letters of credit issued hereunderTerm Note. The Borrower may terminate this letter agreement Agreement and the financing arrangements made herein by giving written notice of such termination to the Bank, together with the payment described in the third sentence of (S)6.3; Lender provided that no such termination will release or waive any of the Bank's Lender’s rights or remedies or any of the Borrower's ’s obligations under this letter agreement Agreement or any of the other Loan Documents unless and until the Borrower has paid in full all the Term Loans and all interest thereon and all fees and charges payable in connection therewith therewith. Notwithstanding any this in this §6.5 to the contrary, each Warrant shall survive termination of this Agreement and all letters payment in full of credit issued hereunder have been terminatedthe Term Loans and the other Obligations in accordance with the express terms thereof.

Appears in 1 contract

Samples: Loan Agreement (MDRNA, Inc.)

Binding Effect; Assignment; Termination. This letter agreement shall --------------------------------------- be binding upon the Borrower, its successors and assigns and shall inure to the benefit of the Borrower and the Bank and their respective permitted successors and assigns. The Borrower may not assign this letter agreement or any rights hereunder without the express written consent of the Bank. The Bank may, in accordance with applicable law, from time to time assign or grant participations participation in this letter agreement, the Revolving Loans, the Notes Revolving Note and/or any the letters of credit issued hereunder. The Borrower may terminate this letter agreement and the financing arrangements made herein by giving written notice of such termination to the Bank, Bank together with payment of the payment sum described in the third fourth sentence of (S)6.3ss.6.3; provided that no such termination will release or waive any of the Bank's rights or remedies or any of the Borrower's obligations under this letter agreement or any of the other Loan Documents unless and until the Borrower has paid in full all the Revolving Loans and all interest thereon and all fees and charges payable in connection therewith and all letters of credit issued hereunder have been terminated.

Appears in 1 contract

Samples: Augment Systems Inc

Binding Effect; Assignment; Termination. This letter agreement shall --------------------------------------- be binding upon the Borrower, its successors and assigns and shall inure to the benefit of the Borrower and the Bank and their respective permitted successors and assigns. The Borrower may not assign this letter agreement or any rights hereunder without the express written consent of the Bank. The Bank may, in accordance with applicable law, from time to time assign or grant participations in this letter agreement, the Loans, the Notes and/or any letters of credit issued hereunder. The Borrower may terminate this letter agreement and the financing arrangements made herein by giving written notice of such termination to the Bank, together with the payment described in the third sentence of (S)6.3Section 6.3; provided that no such termination will release or waive any of the Bank's rights or remedies or any of the Borrower's obligations under this letter agreement or any of the other Loan Documents unless and until the Borrower has paid in full all Loans and all interest thereon and all fees and charges payable in connection therewith and all letters of credit issued hereunder have been terminated.

Appears in 1 contract

Samples: Micrion Corp /Ma/

Binding Effect; Assignment; Termination. This letter agreement shall --------------------------------------- be binding upon the Borrower, its successors and assigns and shall inure to the benefit of the Borrower and the Bank and their respective permitted successors and assigns. The Borrower may not assign this letter agreement or any rights hereunder without the express written consent of the Bank. The Bank may, in accordance with applicable law, from time to time assign or grant participations participation in this letter agreement, the Revolving Loans, the Notes Revolving Note and/or any the letters of credit issued hereunder. The Borrower may terminate this letter agreement and the financing arrangements made herein by giving written notice of such termination to the Bank, Bank together with payment of the payment sum described in the third second sentence of (S)6.3; provided that no such termination will release or waive any of the Bank's rights or remedies or any of the Borrower's obligations under this letter agreement or any of the other Loan Documents unless and until the Borrower has paid in full all the Revolving Loans and all interest thereon and all fees and charges payable in connection therewith and all letters of credit issued hereunder have been terminated.

Appears in 1 contract

Samples: Letter Agreement (Candela Corp /De/)

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Binding Effect; Assignment; Termination. This letter agreement shall --------------------------------------- be binding upon the Borrower, its successors and assigns and shall inure to the benefit of the Borrower and the Bank and their respective permitted successors and assigns. The Borrower may not assign this letter agreement or any rights hereunder without the express written consent of the Bank. The Bank may, in accordance with applicable lawlaw and with prior written notice to the Borrower (except that, in the case of an assignment to a Federal Reserve Bank as security for a borrowing by the Bank, such notice shall not be required), from time to time assign or grant participations participation in this letter agreement, the Revolving Loans, the Notes Revolving Note and/or any the letters of credit issued hereunder. The Borrower may terminate this letter agreement and the financing arrangements made herein by giving written notice of such termination to the Bank, Bank together with payment of the payment sum described in the third second sentence of (S)6.3ss.6.2; provided that no such termination will release or waive any of the Bank's rights or remedies or any of the Borrower's obligations under this letter agreement or any of the other Loan Documents unless and until the Borrower has paid in full all the Revolving Loans and all interest thereon and all fees and charges payable in connection therewith and all letters of credit issued hereunder have been terminated.

Appears in 1 contract

Samples: Letter Agreement (Zoom Telephonics Inc)

Binding Effect; Assignment; Termination. This letter agreement shall --------------------------------------- be binding upon the Borrower, its successors and assigns and shall inure to the benefit of the Borrower and the Bank and their respective permitted successors and assigns. The Borrower may not assign this letter agreement or any rights hereunder without the express written consent of the Bank. The Bank may, in accordance with applicable law, from time to time assign or grant participations participation in this letter agreement, the Revolving Loans, the Notes Revolving Note and/or any the letters of credit issued hereunder. The Borrower may terminate this letter agreement and the financing arrangements made herein by giving written notice of such termination to the Bank, Bank together with payment of the payment sum described in the third second sentence of (S)6.3Section 6.3; provided that no such termination will release or waive any of the Bank's rights or remedies or any of the Borrower's Borrowers obligations under this letter agreement or any of the other Loan Documents unless and until the Borrower has paid in full all the Revolving Loans and all interest thereon and all fees and charges payable in connection therewith and all letters of credit issued hereunder have been terminated.

Appears in 1 contract

Samples: Flexiinternational Software Inc/Ct

Binding Effect; Assignment; Termination. This letter agreement shall --------------------------------------- be binding upon the Borrower, its successors and assigns and shall inure to the benefit of the Borrower and the Bank and their respective permitted successors and assigns. The Borrower may not assign this letter agreement or any rights hereunder without the express written consent of the Bank. The Bank may, in accordance with applicable law, from time to time assign or grant participations in this letter agreement, the Revolving Loans, the Notes Revolving Note and/or any the letters of credit issued hereunder. The Borrower may terminate this letter agreement and the financing arrangements made herein by giving written notice of such termination to the Bank, together with the payment described in the third sentence of (S)6.3; provided that no such termination will release or waive any of the Bank's rights or remedies or any of the Borrower's obligations under this letter agreement or any of the other Loan Documents unless and until the Borrower has paid in full all the Revolving Loans and all interest thereon and all fees and charges payable in connection therewith and all letters of credit issued hereunder have been terminated.

Appears in 1 contract

Samples: Voicetek Corp

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