Common use of Effect of Maturity Clause in Contracts

Effect of Maturity. On the Maturity Date, all commitments of the Lender Group to provide additional credit hereunder in respect of Advances shall automatically be terminated and all of the Obligations (other than in respect of the Term Loan) immediately shall become due and payable without notice or demand and Borrowers shall be required to repay all of the Obligations (other than in respect of the Term Loan) in full. On the Term Loan Maturity Date, all commitments of the Lender Group to provide additional credit hereunder in respect of the Term Loan shall automatically be terminated and all of the Obligations in respect of the Term Loan immediately shall become due and payable without notice or demand and Borrowers shall be required to repay all of the Obligations in respect of the Term Loan in full. No termination of the obligations of the Lender Group (other than payment in full of the Obligations and termination of the Commitments) shall relieve or discharge any Loan Party of its duties, obligations, or covenants hereunder or under any other Loan Document and Agent’s Liens in the Collateral shall continue to secure the Obligations and shall remain in effect until all Obligations have been paid in full and the Commitments have been terminated. When all of the Obligations have been paid in full and the Lender Group’s obligations to provide additional credit under the Loan Documents have been terminated irrevocably, Agent will, at Borrowers’ sole expense, execute and deliver any termination statements, lien releases, discharges of security interests, and other similar discharge or release documents (and, if applicable, in recordable form) as are reasonably necessary to release, as of record, Agent’s Liens and all notices of security interests and liens previously filed by Agent.

Appears in 3 contracts

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

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Effect of Maturity. On the Maturity Date, all commitments of the Lender Group to provide additional credit hereunder in respect of Advances shall automatically be terminated (excluding any unasserted contingent indemnification and contingent expense reimbursement Obligations) and all of the Obligations (other than in respect of the Term Loan) immediately shall become due and payable without notice or demand and Borrowers Borrower shall be required to repay all of the Obligations (other than in respect of the Term Loanexcluding any unasserted contingent indemnification and contingent expense reimbursement Obligations) in full. On the Term Loan Maturity Date, all commitments of the Lender Group to provide additional credit hereunder in respect of the Term Loan shall automatically be terminated and all of the Obligations in respect of the Term Loan immediately shall become due and payable without notice or demand and Borrowers shall be required to repay all of the Obligations in respect of the Term Loan in full. No termination of the obligations of the Lender Group (other than payment repayment in full of the Obligations and termination of the Commitments) shall relieve or discharge any Loan Party of its duties, obligations, or covenants hereunder or under any other Loan Document and Collateral Agent’s Liens in the Collateral shall continue to secure the Obligations and shall remain in effect until all Obligations have been paid repaid in full (excluding any unasserted contingent indemnification and contingent expense reimbursement Obligations) have been repaid in full and the Commitments have been terminated. When all of the Obligations (excluding any unasserted contingent indemnification and contingent expense reimbursement Obligations) have been paid repaid in full and the Lender Group’s obligations to provide additional credit under the Loan Documents have been terminated irrevocably, Collateral Agent will, at Borrowers’ Borrower’s sole expense, execute and deliver any termination statements, lien releases, discharges of security interests, and other similar discharge or release documents (and, if applicable, in recordable form) as are reasonably necessary to release, as of record, Collateral Agent’s Liens and all notices of security interests and liens previously filed by Collateral Agent.

Appears in 3 contracts

Samples: Credit and Guarantee Agreement (Janus International Group, Inc.), Credit and Guarantee Agreement (Janus International Group, Inc.), Abl Credit and Guarantee Agreement (Janus International Group, Inc.)

Effect of Maturity. On the Maturity Date, all commitments of the Lender Group to provide additional credit hereunder in respect of Advances shall automatically be terminated and all of the Obligations (other than in including contingent reimbursement obligations of Borrower with respect to outstanding Letters of the Term LoanCredit and including all Bank Product Obligations) immediately shall become due and payable without notice or demand (and, as a part of such Obligations becoming due and Borrowers payable, Borrower shall immediately and automatically be required obligated to repay all provide (a) Letter of Credit Collateralization, and (b) Bank Product Collateralization, in each case, to the extent such Obligations (other than are not otherwise paid in respect of full in cash on the Term Loan) in full. On the Term Loan Maturity Date, all commitments of the Lender Group to provide additional credit hereunder in respect of the Term Loan shall automatically be terminated and all of the Obligations in respect of the Term Loan immediately shall become due and payable without notice or demand and Borrowers shall be required to repay all of the Obligations in respect of the Term Loan in full). No termination of the obligations of the Lender Group (other than payment in full of the Obligations (other than Surviving Obligations) and termination of the Revolver Commitments) shall relieve or discharge any Loan Party of its duties, obligationsObligations (other than Surviving Obligations), or covenants hereunder or under any other Loan Document and Agent’s 's Liens in the Collateral shall continue to secure the Obligations and shall remain in effect until all Obligations have been paid in full and the Revolver Commitments have been terminated. When all of the Obligations have been paid in full and the Lender Group’s 's obligations to provide additional credit under the Loan Documents have been terminated irrevocably, Agent will, at Borrowers’ Borrower's sole expense, execute and deliver any termination statements, lien releases, discharges of security interests, and other similar discharge or release documents (and, if applicable, in recordable form) as are reasonably necessary to release, as of record, Agent’s 's Liens and all notices of security interests and liens previously filed by AgentAgent with respect to the Obligations.

Appears in 3 contracts

Samples: Credit Agreement (MDC Partners Inc), Credit Agreement (MDC Partners Inc), Credit Agreement (MDC Partners Inc)

Effect of Maturity. On the Maturity Date, all commitments of the Lender Group to provide additional credit hereunder in respect of Advances Commitments shall automatically be terminated and all of the outstanding Obligations (other than Bank Product Obligations not yet due and payable and contingent indemnification and reimbursement Obligations for which no claim has been made in respect of accordance with the Term LoanLoan Documents (collectively, “Contingent Surviving Obligations”)) immediately shall become due and payable without notice or demand and Borrowers shall be required to repay all of the outstanding Obligations (other than in respect of the Term LoanContingent Surviving Obligations) in full. On the Term Loan Maturity Date, all commitments of the Lender Group to provide additional credit hereunder in respect of the Term Loan shall automatically be terminated and all of the Obligations in respect of the Term Loan immediately shall become due and payable without notice or demand and Borrowers shall be required to repay all of the Obligations in respect of the Term Loan in full. No termination of the obligations of the Lender Group (other than payment in full of the Obligations (other than Contingent Surviving Obligations) and termination of the Commitments) shall relieve or discharge any Loan Party of its duties, obligations, or covenants hereunder or under any other Loan Document and Agent’s Liens in the Collateral shall continue to secure the Obligations (other than Contingent Surviving Obligations) and shall remain in effect until all Obligations (other than Contingent Surviving Obligations) have been paid in full and the Commitments have been terminated. When all of the Obligations (other than Contingent Surviving Obligations) have been paid in full and the Lender Group’s obligations to provide additional credit under the Loan Documents have been terminated irrevocably, Agent will, at Borrowers’ sole expense, promptly execute and deliver any termination statements, lien releases, discharges of security interests, and other similar discharge or release documents (and, if applicable, in recordable form) as are reasonably necessary to release, as of record, Agent’s Liens and all notices of security interests and liens previously filed by Agent.

Appears in 2 contracts

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

Effect of Maturity. On the Maturity Date, all commitments of the Lender Group to provide additional credit hereunder in respect of Advances shall automatically be terminated and all of the Obligations (other than in including contingent reimbursement obligations of Borrowers with respect to outstanding Letters of the Term LoanCredit and including all Bank Product Obligations) immediately shall become due and payable without notice or demand (and, as a part of such Obligations becoming due and payable, Borrowers shall immediately and automatically be required to repay all of the Obligations (other than in respect of the Term Loan) in full. On the Term Loan Maturity Date, all commitments of the Lender Group obligated to provide additional credit hereunder in respect (a) Letter of the Term Loan shall automatically be terminated Credit Collateralization, and all of the Obligations in respect of the Term Loan immediately shall become due and payable without notice or demand and Borrowers shall be required to repay all of the Obligations in respect of the Term Loan in full(b) Bank Product Collateralization). No termination of the obligations of the Lender Group (other than payment in full of the Obligations and termination of the Revolver Commitments) shall relieve or discharge any Loan Party of its duties, obligationsObligations, or covenants hereunder or under any other Loan Document and Agent’s Liens in the Collateral shall continue to secure the Obligations and shall remain in effect until all Obligations have been paid in full and the Revolver Commitments have been terminated. When all of the Obligations have been paid in full and the Lender Group’s obligations to provide additional credit under the Loan Documents have been terminated irrevocably, Agent will, at Borrowers’ sole expense, execute and deliver any termination statements, lien releases, discharges of security interests, and other similar discharge or release documents (and, if applicable, in recordable form) as are reasonably necessary to release, as of record, Agent’s Liens and all notices of security interests and liens previously filed by AgentAgent with respect to the Obligations.

Appears in 2 contracts

Samples: Credit Agreement (Finisar Corp), Credit Agreement (Finisar Corp)

Effect of Maturity. On the Maturity Date, all commitments of the Lender Group to provide additional credit hereunder in respect of Advances shall automatically be terminated and all of the Obligations (other than in respect of the Term LoanHedge Obligations) immediately shall become due and payable without notice or demand and Borrowers shall be required to repay all of the Obligations (other than in respect of the Term Loan) in full. On the Term Loan Maturity Date, all commitments of the Lender Group to provide additional credit hereunder in respect of the Term Loan shall automatically be terminated and all of the Obligations in respect of the Term Loan immediately shall become due and payable without notice or demand and Borrowers Borrower shall be required to repay all of the Obligations in respect full. No termination of the Term obligations of the Lender Group shall relieve or discharge the Loan Parties of their duties, Obligations, or covenants hereunder or under any other Loan Document and the Agent’s Liens in the Collateral shall remain in effect until all Obligations have been paid in full and the Commitments have been terminated(other than Hedge Obligations) in full. No termination of the obligations of the Lender Group (other than payment in full of the Obligations and termination of the Commitments) shall relieve or discharge any Loan Party of its duties, obligations, or covenants hereunder or under any other Loan Document and Agent’s Liens in the Collateral shall continue to secure the Obligations and shall remain in effect until all Obligations have been paid in full and the Commitments have been terminated. When all of the Obligations have been paid in full and the Lender Group’s obligations to provide additional credit under the Loan Documents have been terminated irrevocably, Agent will, at Borrowers’ Borrower’s sole expense, execute and deliver any termination statements, lien releases, mortgage releases, re-assignments of trademarks, discharges of security interests, and other similar discharge or release documents (and, if applicable, in recordable form) as are reasonably necessary to release, as of record, Agent’s Liens and all notices of security interests and liens previously filed by AgentAgent with respect to the Obligations.

Appears in 2 contracts

Samples: Credit Agreement (AdvancePierre Foods Holdings, Inc.), Credit Agreement (AdvancePierre Foods Holdings, Inc.)

Effect of Maturity. On the Maturity DateDate for each Tranche of Loans, all commitments of the Lender Group to provide additional credit hereunder in respect under such Tranche of Advances Loans shall automatically be terminated (to the extent not theretofore terminated) and all of the Obligations (other than in respect of the Term Loan) such Tranche of Loans immediately shall become due and payable without notice or demand and Borrowers Borrower shall be required to repay all of the such Obligations (other than in respect of the Term Loan) in full. On the Term Loan Maturity Date, all commitments of the Lender Group to provide additional credit hereunder in respect of the Term Loan shall automatically be terminated and all of the Obligations in respect of the Term Loan immediately shall become due and payable without notice or demand and Borrowers shall be required to repay all of the Obligations in respect of the Term Loan in full. No termination of the obligations of the Lender Group (other than payment in full of the Obligations and termination of the Commitments) shall relieve or discharge any Loan Party of its duties, obligations, or covenants hereunder or under any other Loan Document and Agent’s Liens in the Collateral shall continue to secure the Obligations and shall remain in effect until all Obligations have been paid in full and the Commitments have been terminated. When all of the Obligations have been paid in full and the Lender Group’s obligations to provide additional credit under the Loan Documents have been terminated irrevocably, Agent will, at Borrowers’ Borrower’s sole expense, execute and deliver any termination statements, lien releases, mortgage releases, re-assignments of trademarks, discharges of security interests, and other similar discharge or release documents (and, if applicable, in recordable form) as are reasonably necessary to release, as of record, the Agent’s Liens and all notices of security interests and liens previously filed by Agent.

Appears in 2 contracts

Samples: Credit Agreement (Golden Nugget Online Gaming, Inc.), Credit Agreement (Golden Nugget Online Gaming, Inc.)

Effect of Maturity. On the Maturity Termination Date, all commitments of the DIP Lender Group to provide additional credit hereunder in respect of Advances shall automatically be terminated and all of the Obligations (other than in respect of the Term Loan) immediately shall become due and payable without notice or demand and Borrowers shall be required to repay all of the Obligations (other than in respect of the Term Loan) in full. On the Term Loan Maturity Date, all commitments of the Lender Group to provide additional credit hereunder in respect of the Term Loan shall automatically be terminated and all of the Obligations in respect of the Term Loan immediately shall become due and payable without notice or demand and Borrowers shall be required to repay all of the Obligations in respect of the Term Loan in fulldemand. No termination of the obligations of the DIP Lender Group (other than payment in full of the Obligations and termination of the CommitmentsObligations) shall relieve or discharge any Loan Party of its duties, obligationsObligations, or covenants hereunder or under any other Loan Document and Agentthe DIP Lender’s Liens in the Collateral shall continue to secure the Obligations and shall remain in effect until all Obligations have been indefeasibly paid in full and the Commitments have been terminatedfull. When all of the Obligations have been indefeasibly paid in full and the Lender GroupDIP Lender’s obligations to provide additional credit under the Loan Documents have been terminated irrevocably, Agent the DIP Lender will, at Borrowers’ Borrower’s sole expense, execute and deliver any termination statements, lien releases, discharges of security interests, and other similar discharge or release documents (and, if applicable, in recordable form) as are reasonably necessary to release, as of record, AgentDIP Lender’s Liens and all notices of security interests and liens previously filed by Agentthe DIP Lender with respect to the Obligations.

Appears in 2 contracts

Samples: Possession Loan and Security Agreement (Implant Sciences Corp), Possession Loan and Security Agreement (Implant Sciences Corp)

Effect of Maturity. On the Maturity DateDate or, if earlier, the date that the Commitments are terminated whether pursuant to Section 2.4(c) or otherwise, all commitments Commitments of the Lender Group to provide additional credit hereunder in respect of Advances shall automatically be terminated and all of the Obligations (other than in respect of (a) Bank Product Obligations (other than Hedge Obligations) that, at such time, are allowed by the Term Loanapplicable Bank Product Provider to remain outstanding without being required to be repaid or cash collateralized, and (b) any Hedge Obligations that, at such time, are allowed by the applicable hedging counterparty to remain outstanding without being required to be repaid) immediately shall become due and payable without notice or demand and Borrowers shall be required to repay all of the Obligations (other than Hedge Obligations and Bank Product Obligations as set forth in respect of the Term Loanthis Section 3.4) in full. On the Term Loan Maturity Date, all commitments of the Lender Group to provide additional credit hereunder in respect of the Term Loan shall automatically be terminated and all of the Obligations in respect of the Term Loan immediately shall become due and payable without notice or demand and Borrowers shall be required to repay all of the Obligations in respect of the Term Loan in full. No termination of the obligations of the Lender Group (other than payment in full of the Obligations and termination of the Commitments) shall relieve or discharge any Loan Party of its duties, obligations, or covenants hereunder or under any other Loan Document and Agent’s Liens in the Collateral shall continue to secure the Obligations and shall remain in effect until all Obligations have been paid in full and the Commitments have been terminated. When all of the Obligations have been paid in full and the Lender Group’s obligations to provide additional credit under the Loan Documents have been terminated irrevocably, Agent will, at Borrowers’ sole expense, execute and deliver any termination statements, lien releases, discharges of security interests, and other similar discharge or release documents (and, if applicable, in recordable form) as are reasonably necessary to release, as of record, Agent’s Liens and all notices of security interests and liens previously filed by Agent.

Appears in 1 contract

Samples: Credit Agreement (Independence Contract Drilling, Inc.)

Effect of Maturity. On the Tranche B Maturity Date, the Tranche B Commitments shall automatically be terminated and all Tranche B Advances and all accrued interest thereon shall become due and payable without notice or demand and Borrowers shall be required to repay all Obligations relating to Tranche B Advances in full. On the Tranche A Maturity Date, the Tranche A Commitments and all other commitments of the Lender Group to provide additional credit hereunder in respect of Advances shall automatically be terminated and all of the Obligations (other than in respect of the Term Loan) immediately shall become due and payable without notice or demand and Borrowers shall be required to repay all of the Obligations (other than in respect of the Term Loan) in full. On the Term Loan Maturity Date, all commitments of the Lender Group to provide additional credit hereunder in respect of the Term Loan shall automatically be terminated and all of the Obligations in respect of the Term Loan immediately shall become due and payable without notice or demand and Borrowers shall be required to repay all of the Obligations in respect of the Term Loan in full. No termination of the obligations of the Lender Group (other than payment in full of the Obligations and termination of the Commitments) shall relieve or discharge any Loan Party of its duties, obligations, or covenants hereunder or under any other Loan Document and Agent’s Liens in the Collateral shall continue to secure the Obligations and shall remain in effect until all Obligations have been paid in full and the Commitments have been terminated. When all of the Obligations have been paid in full and the Lender Group’s obligations to provide additional credit under the Loan Documents have been terminated irrevocably, Agent will, at Borrowers’ sole expense, execute and deliver any termination statements, lien releases, discharges of security interests, and other similar discharge or release documents (and, if applicable, in recordable form) as are reasonably necessary to release, as of record, Agent’s Liens and all notices of security interests and liens previously filed by Agent.

Appears in 1 contract

Samples: Credit Agreement (Dixie Group Inc)

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Effect of Maturity. On the Maturity Date, all commitments of the Lender Group to provide additional credit hereunder in respect of Advances shall automatically be terminated and all of the Obligations (other than in respect of the Term Loan) immediately shall become due and payable without notice or demand and Borrowers shall be required to repay all of the Obligations (other than in respect of the Term Loan) in full. On the Term Loan Maturity Date, all commitments of the Lender Group to provide additional credit hereunder in respect of the Term Loan shall automatically be terminated and all of the Obligations in respect of the Term Loan immediately shall become due and payable without notice or demand and Borrowers shall be required to repay all of the Obligations in respect of the Term Loan in full. No termination of the obligations of the Lender \66176107.6 Group (other than payment in full of the Obligations and termination of the Commitments) shall relieve or discharge any Loan Party of its duties, obligations, or covenants hereunder or under any other Loan Document and Agent’s Liens in the Collateral shall continue to secure the Obligations and shall remain in effect until all Obligations have been paid in full and the Commitments have been terminated. When all of the Obligations have been paid in full and the Lender Group’s obligations to provide additional credit under the Loan Documents have been terminated irrevocably, Agent will, at Borrowers’ sole expense, execute and deliver any termination statements, lien releases, discharges of security interests, and other similar discharge or release documents (and, if applicable, in recordable form) as are reasonably necessary to release, as of record, Agent’s Liens and all notices of security interests and liens previously filed by Agent.

Appears in 1 contract

Samples: Credit Agreement (BOISE CASCADE Co)

Effect of Maturity. On the Maturity Date, all commitments of the Lender Group to provide additional credit hereunder in respect of Advances shall automatically be terminated and all of the Obligations (other than Bank Product Obligations that, at such time, are not required to be repaid or cash Exhibit 10.61 DIP Credit Agreement collateralized in respect of the Term Loanaccordance with Section 1.4) immediately shall become due and payable without notice or demand and Borrowers shall be required to repay all of the Obligations (other than in respect of the Term Loan) in full. On the Term Loan Maturity Date, all commitments of the Lender Group to provide additional credit hereunder in respect of the Term Loan shall automatically be terminated and all of the Obligations in respect of the Term Loan immediately shall become due and payable without notice or demand and Borrowers shall be required to repay all of the Obligations in respect of the Term Loan in full. No termination of the obligations of the Lender Group (other than payment in full of the Obligations and termination of the Commitments) shall relieve or discharge any Loan Party of its duties, obligations, or covenants hereunder or under any other Loan Document and Agent’s Liens in the Collateral shall continue to secure the Obligations and shall remain in effect until all Obligations have been paid in full and the Commitments have been terminated. When all of the Obligations have been paid in full and the Lender Group’s obligations to provide additional credit under the Loan Documents have been terminated irrevocably, Agent will, at Borrowers’ sole expense, execute and deliver any termination statements, lien releases, discharges of security interests, and other similar discharge or release documents (and, if applicable, in recordable form) as are reasonably necessary to release, as of record, Agent’s Liens and all notices of security interests and liens previously filed by Agent.

Appears in 1 contract

Samples: Possession Credit Agreement (Exide Technologies)

Effect of Maturity. On the Maturity Date, all commitments of the Lender Group to provide additional credit hereunder in respect of Advances shall automatically be terminated and all of the Obligations (other than in including contingent reimbursement obligations of Borrowers with respect to outstanding Letters of the Term LoanCredit and including all Bank Product Obligations, but excluding unasserted contingent indemnification Obligations) immediately shall become due and payable without notice or demand (including the requirement that Borrowers provide (a) Letter of Credit Collateralization, and Borrowers shall be required to repay all of the Obligations (other than in respect of the Term Loanb) in full. On the Term Loan Maturity Date, all commitments of the Lender Group to provide additional credit hereunder in respect of the Term Loan shall automatically be terminated and all of the Obligations in respect of the Term Loan immediately shall become due and payable without notice or demand and Borrowers shall be required to repay all of the Obligations in respect of the Term Loan in fullBank Product Collateralization). No termination of the obligations of the Lender Group (other than payment in full of the Obligations and termination of the Commitments) shall relieve or discharge any Loan Party of its duties, obligationsObligations, or covenants hereunder or under any other Loan Document and Agent’s Liens in the Collateral shall continue to secure the Obligations and shall remain in effect until all Obligations have been paid in full and the Commitments have been terminated. When all of the Obligations have been paid in full and the Lender Group’s obligations to provide additional credit under the Loan Documents have been terminated irrevocably, Agent will, at Borrowers’ sole expense, execute and deliver any termination statements, lien releases, discharges of security interests, and other similar discharge or release documents (and, if applicable, in recordable form) as are reasonably necessary to release, as of record, Agent’s Liens and all notices of security interests and liens previously filed by AgentAgent with respect to the Obligations.

Appears in 1 contract

Samples: Credit Agreement (Stock Building Supply Holdings, Inc.)

Effect of Maturity. On the Maturity Date, all commitments of the Lender Group to provide additional credit hereunder in respect of Advances shall automatically be terminated and all of the Obligations (other than in respect of the Term Loan) immediately shall become due and payable without notice or demand and Borrowers shall be required to repay all of the Obligations (other than in respect of the Term Loan) in full. On the Term Loan Maturity Date, all commitments of the Lender Group to provide additional credit hereunder in respect of the Term Loan shall automatically be terminated and all of the Obligations in respect of the Term Loan immediately shall become due and payable without notice or demand and Borrowers shall be required to repay all of the Obligations in respect of the Term Loan in full. No termination of the obligations of the Lender Group (other than payment in full of the Obligations and termination of the Commitments) shall relieve or discharge any Loan Party of its duties, obligations, or covenants hereunder or under any other Loan Document and Agent’s 127044148_2 127255152_10 Liens in the Collateral shall continue to secure the Obligations and shall remain in effect until all Obligations have been paid in full and the Commitments have been terminated. When all of the Obligations have been paid in full and the Lender Group’s obligations to provide additional credit under the Loan Documents have been terminated irrevocably, Agent will, at Borrowers’ sole expense, execute and deliver any termination statements, lien releases, discharges of security interests, and other similar discharge or release documents (and, if applicable, in recordable form) as are reasonably necessary to release, as of record, Agent’s Liens and all notices of security interests and liens previously filed by Agent.

Appears in 1 contract

Samples: Credit Agreement (BOISE CASCADE Co)

Effect of Maturity. On the Maturity Date, all commitments of the Lender Group to provide additional credit hereunder in respect of Advances shall automatically be terminated and all of the Obligations (other than in including contingent reimbursement obligations of Borrower with respect to outstanding Letters of the Term LoanCredit and including all Bank Product Obligations) immediately shall become due and payable without notice or demand (and, as a part of such Obligations becoming due and Borrowers payable, Borrower shall immediately and automatically be required to repay all of the Obligations (other than in respect of the Term Loan) in full. On the Term Loan Maturity Date, all commitments of the Lender Group obligated to provide additional credit hereunder in respect (a) Letter of the Term Loan shall automatically be terminated Credit Collateralization, and all of the Obligations in respect of the Term Loan immediately shall become due and payable without notice or demand and Borrowers shall be required to repay all of the Obligations in respect of the Term Loan in full(b) Bank Product Collateralization). No termination of the obligations of the Lender Group (other than payment in full of the Obligations and termination of the Revolver Commitments) shall relieve or discharge any Loan Party of its duties, obligationsObligations, or covenants hereunder or under any other Loan Document and Agent’s 's Liens in the Collateral shall continue to secure the Obligations and shall remain in effect until all Obligations have been paid in full and the Revolver Commitments have been terminated. When all of the Obligations have been paid in full and the Lender Group’s 's obligations to provide additional credit under the Loan Documents have been terminated irrevocably, Agent will, at Borrowers’ Borrower's sole expense, execute and deliver any termination statements, lien releases, discharges of security interests, and other similar discharge or release documents (and, if applicable, in recordable form) as are reasonably necessary to release, as of record, Agent’s 's Liens and all notices of security interests and liens previously filed by AgentAgent with respect to the Obligations.

Appears in 1 contract

Samples: Credit Agreement (MDC Partners Inc)

Effect of Maturity. On the Maturity Date, all commitments of the Lender Group to provide additional credit hereunder in respect of Advances shall automatically be terminated and all of the Obligations (other than in respect of the Term Loan) immediately shall become due and payable without notice or demand and Borrowers Borrower shall be required to repay all of the Obligations (other than contingent obligations in respect of the Term Loanwhich no claim has been made) in full. On the Term Loan Maturity Date, all commitments of the Lender Group to provide additional credit hereunder in respect of the Term Loan shall automatically be terminated and all of the Obligations in respect of the Term Loan immediately shall become due and payable without notice or demand and Borrowers shall be required to repay all of the Obligations in respect of the Term Loan in full. No termination of the obligations of the Lender Group (other than payment in full of the Obligations and termination of the CommitmentsCommitments set forth in Schedule C-1) shall relieve or discharge any Loan Party of its duties, obligations, or covenants hereunder or under any other Loan Document and Agent’s Liens in the Collateral shall continue to secure the Obligations and shall remain in effect until all Obligations (other than contingent obligations in respect of which no claim has been made) have been paid in full and the Commitments have been terminatedfull. When all of the Obligations (other than contingent obligations in respect of which no claim has been made) have been paid in full and the Lender Group’s obligations to provide additional credit under the Loan Documents have been terminated irrevocablyfull, Agent Agents will, at Borrowers’ Borrower’s sole expense, execute and deliver any termination statements (or, alternatively, upon Bxxxxxxx’s request, at Borrower’s sole expense, authorize the Loan Parties to file termination statements), lien releases, discharges of security interests, and other similar discharge or release documents (including, but not limited to, any satisfactions of Mortgages) (and, if applicable, in recordable form) as are reasonably necessary or requested by Bxxxxxxx to release, as of record, Agent’s Liens and all notices of security interests and liens previously filed by AgentAgents with respect to the Obligations.

Appears in 1 contract

Samples: Credit Agreement (Acreage Holdings, Inc.)

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