Early Termination; Termination Fee. In addition to the procedure set forth in Section 9.2(b), Borrower may terminate this Agreement at any time but only upon sixty (60) days' prior written notice and prepayment of the Obligations. Upon any such early termination by Borrower or any termination of this Agreement by FINOVA upon the occurrence of an Event of Default, then, and in any such event, Borrower shall pay to FINOVA upon the effective date of such termination a fee (the "Termination Fee") in an amount equal to the amount shown on the Schedule.
Early Termination; Termination Fee. In addition to the procedure set forth in Section 9.2(b), Borrowers may terminate this Agreement as to all of the Borrowers (and not less than all of the Borrowers) at any time but only upon thirty (30) days' prior written notice and prepayment of the Obligations (including, without limitation, the Term Loans). Upon any such early termination by Borrowers or any termination of this Agreement by FINOVA upon the occurrence of an Event of Default, then, and in any such event, Borrowers shall jointly and severally pay to FINOVA upon the effective date of such termination the Success Fee and a fee (the "TERMINATION FEE") in an amount equal to the amount shown on the Schedule.
Early Termination; Termination Fee. In addition to the procedure set forth in Section 9.2(b), Borrower may terminate this Agreement at any time but only upon sixty (60) days' prior written notice and prepayment of the Obligations. Upon any such early termination by Borrower or any termination of this Agreement by FINOVA upon the occurrence of an Event of Default, then, and in any such event, Borrower shall pay to FINOVA upon the effective date of such termination a fee (the "Termination Fee") in an amount equal to the amount shown on the Schedule. Notwithstanding the foregoing, in the event that Borrower shall desire to enter into any merger or acquisition of or with another Person and FINOVA shall not consent to such merger or acquisition, FINOVA hereby agrees that provided FINOVA would have maintained a first priority security interest in all of the assets of the entire merged or acquired entity had FINOVA consented to such merger or acquisition, Borrower may, upon the closing of such merger or acquisition and payment in full of the Obligations, terminate this Agreement without payment of a Termination Fee. Upon such payment in full of all Obligations of Borrower to FINOVA, FINOVA will release its liens in the Collateral.
Early Termination; Termination Fee. In addition to the procedure set forth in Paragraph 17(B), Borrower may terminate this Agreement at any time upon sixty (60) days' prior written notice and prepay the Obligations. Upon any such early termination by Borrower or any termination of this Agreement by Lender upon the occurrence of an Event of Default under Paragraph 18(A) hereof, then, and in any such event, Borrower shall pay to Lender upon the effective date of such termination a fee (the 'Termination Fee') in an amount equal to: (i) three percent (3%) of the average daily outstanding balance of the Obligations for the 180 day period (or lesser period if applicable) preceding the date of termination, if such early termination occurs on or prior to the first anniversary of the Third Amendment Effective Date; (i) two percent (2%) of the average daily outstanding balance of the Obligations for the 180 day period (or lesser period if applicable) preceding the date of termination, if such early termination occurs after the first anniversary of the Third Amendment Effective Date but on or prior to the second anniversary of the Third Amendment Effective Date; or (ii) one percent (1%) of the average daily outstanding balance of the Obligations for the 180-day period preceding the date of termination, if such early termination occurs after the second anniversary of the Third Amendment Effective Date. The Termination Fee shall be presumed to be the amount of damages sustained by Lender as a result of the early termination, and Borrower agrees that because it is difficult to calculate such damages, the Termination Fee provided for herein is reasonable under the circumstances."
(k) Notwithstanding anything to the contrary contained in the Loan Agreement, as long as (i) Borrower shall maintain excess borrowing availability of at least Five Hundred Thousand Dollars ($500,000), after giving effect to any requested but unfunded advance and payment in full of Borrower's suppliers to within sixty (60) days of such suppliers' respective written or agreed-upon terms, and (ii) there shall not then exist an Event of Default or any act or event which with notice, passage of time, or both would constitute an Event of Default, (1) Borrower shall report to Lender Collateral information on a monthly basis (in the form of a Borrowing Base Certificate to be prescribed by Lender), and (2) Borrower shall maintain dominion over its cash.
(l) Lender's address for notice purposes in Exhibit B to the Loan Agreement is hereby a...
Early Termination; Termination Fee. In addition to the procedure set forth in Section 16.2, Borrowers may terminate this Agreement at any time upon sixty (60) days' prior written notice and prepay the Obligations. Upon any such early termination by Borrowers or any termination of this Agreement by Lender upon the occurrence of an Event of Default, then, and in any such event, Borrowers shall pay to Lender upon the effective date of such termination a fee (the "Termination Fee") in an amount equal to the amount shown on the Schedule. Borrowers' obligations under this Section shall be joint and several.
Early Termination; Termination Fee. In addition to the procedure set forth in Section 9.2(b), Borrower may terminate this Agreement at any time but only upon sixty (60) days' prior written notice and prepayment of the Obligations. Upon any such early voluntary termination by Borrower or any termination of this Agreement by FINOVA upon the occurrence of an Event of Default, then, and in any such event, Borrower shall pay to FINOVA upon the effective date of such termination a fee (the "TERMINATION FEE") in an amount equal to the amount shown on the Schedule; PROVIDED, HOWEVER, that if Borrower terminates this Agreement within one hundred twenty (120) days after an assignment by FINOVA contemplated by clause (iii) of the third sentence of Section 9.7, after giving proper notice pursuant to Section 9.2(b), no Termination Fee shall be payable.
Early Termination; Termination Fee. In addition to the procedure set forth -----------------------------------
Early Termination; Termination Fee. If a Termination Fee is due from Trustees to Licensee under this Agreement, Trustees shall pay to Licensee a Termination Fee corresponding to the applicable Contract Year in which the early termination occurs as set forth in the following table. Upon termination of this Agreement and subject to Section 13.2, Licensee shall remove the System at its cost and restore the Site to its original condition (less normal wear and tear) pursuant to Section 13.1 of this Agreement. Trustees shall pay Licensee the Termination Fee within thirty (30) calendar days of the early termination of this Agreement. Contract Year Termination Fee Contract Year Termination Fee 1 $X 11 $X 2 $X 12 $X 3 $X 13 $X 4 $X 14 $X 5 $X 15 $X 6 $X 16 $X 7 $X 17 $X 8 $X 18 $X 9 $X 19 $X 10 $X 20 $X
Early Termination; Termination Fee. IN ADDITION TO THE PROCEDURE SET ---------------------------------- FORTH IN SECTION 9.2(B), BORROWER MAY TERMINATE THIS AGREEMENT AT ANY TIME BUT ONLY UPON SIXTY (60) DAYS' PRIOR WRITTEN NOTICE AND PREPAYMENT OF THE OBLIGATIONS. UPON ANY SUCH EARLY TERMINATION BY BORROWER OR ANY TERMINATION OF THIS AGREEMENT BY FINOVA UPON THE OCCURRENCE OF AN EVENT OF DEFAULT, THEN, AND IN ANY SUCH EVENT, BORROWER SHALL PAY TO FINOVA UPON THE EFFECTIVE DATE OF SUCH TERMINATION A FEE (THE "TERMINATION FEE") IN AN AMOUNT EQUAL TO THE AMOUNT SHOWN --------------- ON THE SCHEDULE.
Early Termination; Termination Fee. In addition to the procedure set ---------------------------------- forth in Section 16.2, Borrower may terminate this Agreement at any time upon not less than twenty (20) days' prior written notice and prepay the Obligations; provided, that if such prepayment of the Obligations does not occur within -------- fifteen (15) days of the date specified in such notice, this Agreement will not terminate as a result of such notice and such notice shall have no force or effect. Upon any such early termination by Borrower prior to the end of the Initial Term or any termination of this Agreement by Lender upon the occurrence of an Event of Default prior to the end of the Initial Term, then, and in any such event, Borrower shall pay to Lender upon the effective date of such termination a fee (the "Termination Fee") in an amount equal to the amount shown on the Schedule; provided, that if Lender terminates this Agreement upon the -------- occurrence of an Event of Default, the Termination Fee payable by Borrower FINOVA LOAN AND SECURITY AGREEMENT ---------------------------------------------------------------------- shall be reduced by the amount of the additional interest paid to Lender at the Default Rate during the term of this Agreement over the interest that would have been paid to Lender had the Default Rate not been in effect.
