Common use of Early Termination by Borrowers Clause in Contracts

Early Termination by Borrowers. Borrowers have the option, at any time upon three Business Days prior written notice to Agent, to repay all of the Obligations in full and terminate the Commitments; provided that (a) such notice may state that it is conditioned upon the effectiveness of other credit facilities or any other financing, sale or other transaction, (b) if such notice includes such statement, then Borrowers shall notify Agent of the effectiveness of such other credit facilities or financing, sale or other transaction of the occurrence of such event and (c) if Agent does not receive the notice of such event occurring on or prior to the date specified for such termination in such notice of termination (or within such other period as Agent may agree), such notice of termination shall be deemed rescinded and of no force and effect (in which case, a new notice shall be required to be sent in connection with any subsequent termination), and (b) Borrowers may extend the date of termination at any time with the consent of Agent (which consent shall not be unreasonably withheld, delayed or conditioned).

Appears in 2 contracts

Samples: Credit Agreement (CVR Partners, Lp), Credit Agreement (CVR Energy Inc)

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Early Termination by Borrowers. Borrowers have the option, at any time upon three 10 Business Days prior written notice to AgentAgent (or such lesser period as agreed to by Agent in its sole discretion), to repay terminate this Agreement and terminate the Commitments hereunder by repaying to Agent all of the Obligations in full and terminate the Commitments; provided that full. The foregoing notwithstanding, (a) such notice Borrowers may state that it is conditioned upon the effectiveness of other credit facilities or any other financing, sale or other transaction, (b) if such notice includes such statement, then Borrowers shall notify Agent rescind termination notices relative to proposed payments in full of the effectiveness Obligations with the proceeds of third party Indebtedness if the closing for such other credit facilities issuance or financing, sale incurrence does not happen on or other transaction before the date of the occurrence of such event and (c) if Agent does not receive the notice of such event occurring on or prior to the date specified for such proposed termination in such notice of termination (or within such other period as Agent may agree), such notice of termination shall be deemed rescinded and of no force and effect (in which case, a new notice shall be required to be sent in connection with any subsequent termination), and (b) Borrowers may extend the date of termination at any time with the consent of Agent (which consent shall not be unreasonably withheld, delayed withheld or conditioneddelayed).

Appears in 2 contracts

Samples: Debtor in Possession Credit Agreement, Senior Secured, Priming and Superpriority Debtor in Possession Credit Agreement

Early Termination by Borrowers. Borrowers have the option, at any time upon three five (5) Business Days prior written notice to AgentAgent (or such shorter time as to which Agent may agree), to repay terminate this Agreement and terminate the Commitments hereunder by repaying to Agent all of the Obligations in full and terminate the Commitments; provided that full. The foregoing notwithstanding, (a) such notice Borrowers may state that it is conditioned upon the effectiveness of other credit facilities or any other financing, sale or other transaction, (b) if such notice includes such statement, then Borrowers shall notify Agent rescind termination notices relative to proposed payments in full of the effectiveness Obligations with the proceeds of third party Indebtedness if the closing for such other credit facilities issuance or financing, sale incurrence does not happen on or other transaction before the date of the occurrence of such event and (c) if Agent does not receive the notice of such event occurring on or prior to the date specified for such proposed termination in such notice of termination (or within such other period as Agent may agree), such notice of termination shall be deemed rescinded and of no force and effect (in which case, a new notice shall be required to be sent in connection with any subsequent termination), and (b) Borrowers may extend the date of termination at any time with the consent of Agent (which consent shall not be unreasonably withheldwithheld or delayed), delayed or conditioned)but in no event beyond the Maturity Date.

Appears in 2 contracts

Samples: Credit Agreement (Seventy Seven Energy Inc.), Credit Agreement (Seventy Seven Energy Inc.)

Early Termination by Borrowers. Borrowers have the option, at any time upon three 5 Business Days prior written notice to Agent, to repay terminate this Agreement and terminate the Commitments hereunder by repaying to Agent all of the Obligations in full and terminate full, including, without limitation the Commitments; provided that prepayment fee described in Section 2.10(d), as applicable. The foregoing notwithstanding, (a) such notice Borrowers may state that it is conditioned upon the effectiveness of other credit facilities or any other financing, sale or other transaction, (b) if such notice includes such statement, then Borrowers shall notify Agent rescind termination notices relative to proposed payments in full of the effectiveness Obligations with the proceeds of third party Indebtedness if the closing for such other credit facilities issuance or financing, sale incurrence does not happen on or other transaction before the date of the occurrence of such event and (c) if Agent does not receive the notice of such event occurring on or prior to the date specified for such proposed termination in such notice of termination (or within such other period as Agent may agree), such notice of termination shall be deemed rescinded and of no force and effect (in which case, a new notice shall be required to be sent in connection with any subsequent termination), and (b) Borrowers may extend the date of termination at any time with the consent of Agent (which consent shall not be unreasonably withheld, delayed withheld or conditioneddelayed).

Appears in 2 contracts

Samples: Debtor in Possession Credit Agreement (School Specialty Inc), Debtor in Possession Credit Agreement (School Specialty Inc)

Early Termination by Borrowers. Borrowers have the option, at any time upon three 3 Business Days prior written notice to Agent, to repay terminate this Agreement and terminate all Commitments hereunder by repaying to Agent all of the Obligations (other than Contingent Surviving Obligations) in full and terminate the Commitments; provided that full. The foregoing notwithstanding, (a) Borrowers may rescind termination notices relative to proposed payments in full of such notice may state that it is conditioned upon Obligations with the effectiveness proceeds of other credit facilities third party Indebtedness if the closing for such issuance or any other financing, sale incurrence does not happen on or other transaction, (b) if such notice includes such statement, then Borrowers shall notify Agent before the date of the effectiveness of such other credit facilities or financing, sale or other transaction of the occurrence of such event and (c) if Agent does not receive the notice of such event occurring on or prior to the date specified for such proposed termination in such notice of termination (or within such other period as Agent may agree), such notice of termination shall be deemed rescinded and of no force and effect (in which case, a new notice shall be required to be sent in connection with any subsequent termination), and (b) Borrowers may extend the date of termination at any time with the consent of Agent (which consent shall not be unreasonably withheld, delayed withheld or conditioneddelayed).

Appears in 2 contracts

Samples: Credit Agreement (FTS International, Inc.), Credit Agreement (FTS International, Inc.)

Early Termination by Borrowers. Borrowers have the option, at any time upon three 10 Business Days prior written notice to Agent, to repay terminate this Agreement and terminate the Commitments hereunder by repaying to Agent all of the Obligations in full and terminate together with payment of the Commitments; provided that Applicable Prepayment Premium, if applicable. The foregoing notwithstanding, (a) such notice Borrowers may state that it is conditioned upon the effectiveness of other credit facilities or any other financing, sale or other transaction, (b) if such notice includes such statement, then Borrowers shall notify Agent rescind termination notices relative to proposed payments in full of the effectiveness Obligations with the proceeds of third party Indebtedness if the closing for such other credit facilities issuance or financing, sale incurrence does not happen on or other transaction before the date of the occurrence of such event and (c) if Agent does not receive the notice of such event occurring on or prior to the date specified for such proposed termination in such notice of termination (or within such other period as Agent may agree), such notice of termination shall be deemed rescinded and of no force and effect (in which case, a new notice shall be required to be sent in connection with any subsequent termination), and (b) Borrowers may extend the date of termination at any time with the consent of Agent (which consent shall not be unreasonably withheld, delayed withheld or conditioneddelayed).

Appears in 1 contract

Samples: Credit Agreement (ModusLink Global Solutions Inc)

Early Termination by Borrowers. Borrowers have the option, at any time upon three 5 Business Days prior written notice to Agent, to repay terminate this Agreement and terminate the Commitments hereunder by repaying to Agent all of the Obligations in full and terminate full, after repaying all of the Commitments; provided that Prepetition Obligations. The foregoing notwithstanding, (a) such notice Borrowers may state that it is conditioned upon the effectiveness of other credit facilities or any other financing, sale or other transaction, (b) if such notice includes such statement, then Borrowers shall notify Agent rescind termination notices relative to proposed payments in full of the effectiveness Obligations with the proceeds of such other credit facilities or financing, sale third party Indebtedness or other transaction if the closing for such issuance, incurrence or other transaction does not happen on or before the date of the occurrence of such event and (c) if Agent does not receive the notice of such event occurring on or prior to the date specified for such proposed termination in such notice of termination (or within such other period as Agent may agree), such notice of termination shall be deemed rescinded and of no force and effect (in which case, a new notice shall be required to be sent in connection with any subsequent termination), and (b) Borrowers may extend the date of termination at any time with the consent of Agent (which consent shall not be unreasonably withheld, delayed withheld or conditioneddelayed).

Appears in 1 contract

Samples: Debt Agreement (Ciber Inc)

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Early Termination by Borrowers. Borrowers have the option, at any time upon three not less than ten (10) Business Days prior written notice to AgentAgent (or such shorter period as Agent may agree in its discretion), to repay terminate this Agreement and terminate the Commitments hereunder by repaying to Agent all of the Obligations in full and terminate the Commitments; provided that full. The foregoing notwithstanding, (a) Borrowers may condition any such termination notice on the happening or occurrence of an event, and may state that it is conditioned upon the effectiveness of other credit facilities or rescind any other financing, sale or other transaction, (b) such termination notice if such notice includes such statement, then Borrowers shall notify Agent event does not happen or occur on or before the date of the effectiveness of such other credit facilities or financing, sale or other transaction of the occurrence of such event and (c) if Agent does not receive the notice of such event occurring on or prior to the date specified for such proposed termination in such notice of termination (or within such other period as Agent may agree), such notice of termination shall be deemed rescinded and of no force and effect (in which case, a new notice shall be required to be sent in connection with any subsequent termination), and (b) Borrowers may extend the date of termination specified in any such notice at any time with time; provided that an extension of more than ten (10) days shall require the consent of Agent (which consent shall not be unreasonably withheld, delayed conditioned or conditioneddelayed).

Appears in 1 contract

Samples: Credit Agreement (Orasure Technologies Inc)

Early Termination by Borrowers. Borrowers have Administrative Borrower has the option, at any time upon three ten (10) Business Days prior written notice to Agent, to repay terminate this Agreement and terminate the Commitments hereunder by repaying to Agent all of the Obligations in full and terminate the Commitments; provided that full. The foregoing notwithstanding, (a) such notice Administrative Borrower may state that it is conditioned upon the effectiveness of other credit facilities or any other financing, sale or other transaction, (b) if such notice includes such statement, then Borrowers shall notify Agent rescind termination notices relative to proposed payments in full of the effectiveness Obligations with the proceeds of third party Indebtedness if the closing for such other credit facilities issuance or financing, sale incurrence does not happen on or other transaction before the date of the occurrence of such event and (c) if Agent does not receive the notice of such event occurring on or prior to the date specified for such proposed termination in such notice of termination (or within such other period as Agent may agree), such notice of termination shall be deemed rescinded and of no force and effect (in which case, a new notice shall be required to be sent in connection with any subsequent termination), and (b) Borrowers may extend the date of termination at any time by no more than five (5) days with the consent of Agent and by more than five (5) days with the consent of Required Lenders (which consent shall in each case not be unreasonably withheld, delayed withheld or conditioneddelayed).

Appears in 1 contract

Samples: Credit Agreement (Nacco Industries Inc)

Early Termination by Borrowers. Borrowers have the option, at any time upon three five (5) Business Days prior written notice to Administrative Agent, to repay terminate this Agreement and terminate the Revolver Commitments hereunder by repaying to Administrative Agent all of the Obligations in full and terminate the Commitments; provided that full. The foregoing notwithstanding, (a) such notice Borrowers may state that it is conditioned upon the effectiveness of other credit facilities or any other financing, sale or other transaction, (b) if such notice includes such statement, then Borrowers shall notify Agent rescind termination notices relative to proposed payments in full of the effectiveness Obligations with the proceeds of third party Indebtedness if the closing for such other credit facilities issuance or financing, sale incurrence does not happen on or other transaction before the date of the occurrence of such event and (c) if Agent does not receive the notice of such event occurring on or prior to the date specified for such proposed termination in such notice of termination (or within such other period as Agent may agree), such notice of termination shall be deemed rescinded and of no force and effect (in which case, a new notice shall be required to be sent in connection with any subsequent termination), and (b) Borrowers may extend the date of termination at any time with the consent of Administrative Agent (which consent shall not be unreasonably withheld, delayed conditioned or conditioneddelayed).

Appears in 1 contract

Samples: Credit Agreement (Thryv Holdings, Inc.)

Early Termination by Borrowers. Borrowers have the option, at any time upon three ten Business Days prior written notice to AgentLender, to repay all of the Obligations in full and terminate the Commitments; provided that . Any such termination of the Commitments shall be accompanied by the termination fee set forth in Section 2.10(f). The foregoing notwithstanding, (a) such notice Borrowers may state that it is conditioned upon the effectiveness of other credit facilities or any other financing, sale or other transaction, (b) if such notice includes such statement, then Borrowers shall notify Agent rescind termination notices relative to proposed payments in full of the effectiveness Obligations with the proceeds of third party Indebtedness if the closing for such other credit facilities issuance or financing, sale incurrence does not happen on or other transaction before the date of the occurrence of such event and (c) if Agent does not receive the notice of such event occurring on or prior to the date specified for such proposed termination in such notice of termination (or within such other period as Agent may agree), such notice of termination shall be deemed rescinded and of no force and effect (in which case, a new notice shall be required to be sent in connection with any subsequent termination), and (b) Borrowers may extend the date of termination at any time with the consent of Agent Lender (which consent shall not be unreasonably withheld, delayed withheld or conditioneddelayed).

Appears in 1 contract

Samples: Credit Agreement (Northwest Pipe Co)

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