Common use of Early Termination by Borrowers Clause in Contracts

Early Termination by Borrowers. Borrowers have the option, at any time upon 90 days prior written notice by Administrative Borrower to Agent, to terminate this Agreement by paying to Agent, for the benefit of the Lender Group, in cash, the Obligations, in full. If Administrative Borrower has sent a notice of termination pursuant to the provisions of this Section, then Lenders' obligations to extend credit hereunder shall terminate and Borrowers shall be obligated to repay the Obligations, in full, on the date set forth as the date of termination of this Agreement in such notice.

Appears in 2 contracts

Samples: Loan and Security Agreement (Old Evangeline Downs LLC), Loan and Security Agreement (Peninsula Gaming Corp)

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Early Termination by Borrowers. Borrowers have the option, at any time upon 90 days 10 Business Days prior written notice by Administrative Borrower to Agent, to terminate this Agreement and terminate the Commitments hereunder by paying repaying to Agent, for the benefit Agent all of the Lender Group, in cash, the Obligations, Obligations in full. If Administrative Borrower has sent a Any such notice may be conditioned upon the effectiveness of termination pursuant other credit facilities or the happening of another event, in which case such notice may be revoked by Borrowers by notice to Agent on or prior to the provisions of this Section, then Lenders' obligations to extend credit hereunder shall terminate and Borrowers shall be obligated to repay specified effective date in the Obligations, in full, on the date set forth as the date of termination of this Agreement in event such noticeevent does not occur.

Appears in 2 contracts

Samples: Credit Agreement (BOISE CASCADE Co), Credit Agreement (BOISE CASCADE Co)

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Early Termination by Borrowers. Borrowers have the option, at any time upon 90 days three (3) Business Day’s prior written notice by Administrative Borrower to the Agent, to terminate this Agreement and terminate the Commitments hereunder by paying to Agent, for the benefit Agent all of the Lender Group, in cash, the Obligations, Obligations in full. If Administrative Borrower has sent a Any notice of termination delivered by Borrowers pursuant to the provisions of this Section, then Lenders' obligations to extend credit hereunder shall terminate and Borrowers shall Section 3.5 may be obligated to repay the Obligations, in full, conditioned on the date set forth as the date occurrence of termination of this Agreement in a specified transaction or event and revoked if such noticetransaction does not occur.

Appears in 1 contract

Samples: Senior Secured Super Priority Debtor in Possession Credit Agreement

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