Continuity and Termination. This Agreement shall become effective immediately and remain in effect so long as any of the Obligations are outstanding and unpaid, provided that the security interests hereunder shall continue in full force and effect and are noncancellable by Borrower prior to the termination of this Agreement. This Agreement may be terminated by Borrower upon actual delivery of written notice to Bank of such intention, and payment in full of all then existing Obligations; provided, however, that such notice and payment shall in no way affect, and this Agreement shall remain fully operative with respect to, any Obligations (including contingent Obligations), or commitments which may become Obligations, entered into between Borrower and Bank prior to receipt of such notice or payment, whichever is later.
Appears in 5 contracts
Samples: Loan and Security Agreement (Halifax Corp), Loan and Security Agreement (Halifax Corp), Loan and Security Agreement (Halifax Corp)
