Effect of Termination Date. (a) For the sake of clarity, the parties agree that, at all times on and following the Termination Date:
Effect of Termination Date. Notwithstanding anything to the contrary set forth herein, all references to any right of the Insurer to direct, appoint, consent to, accept, approve of, take or omit to take any action under this Indenture or any other Basic Document shall be inapplicable at all times after the Termination Date or Insurer Default, and (i) if such reference provides for another party or parties to take or omit to take such action following an Insurer Default, such party or parties shall also be entitled to take or omit to take such action following the Termination Date or Insurer Default and (ii) if such reference does not provide for another party or parties to take or omit to take such action following an Insurer Default, then the Indenture Trustee acting at the direction of the Majority Noteholders shall have the right to take or omit to take any such action following the Termination Date or Insurer Default. In addition, any other provision of this Indenture or any other Basic Document which is operative based in whole or in part on whether an Insurer Default has or has not occurred shall, at all times on or after the Termination Date or Insurer Default, be deemed to refer to whether or not the Termination Date has occurred.
Effect of Termination Date. The Termination Date shall occur automatically at 11:59(pm) central standard time on September 30, 1997 or pursuant to Section 4.2 hereof. The Existing Events of Default and any Forbearance Period Default will be deemed to exist on the Termination Date and, unless all of such Existing Events of Default and Forbearance Period Defaults have been cured (if curable), CS/FB may, at its option and subject to the terms of the Subordinated Debt Documents, exercise any rights and remedies that it may have under any of the Subordinated Debt Documents, applicable law or otherwise, all of such rights and remedies being expressly reserved by CS/FB.
Effect of Termination Date. Section 2.2 of the Forbearance Agreement hereby is amended by deleting the reference to "June 3, 1998" and replacing it with "July 15, 1998".
Effect of Termination Date. (a) For the sake of clarity, the parties agree that, at all times on and following the Termination Date: (i) Except to the extent otherwise removed in accordance with Section 5, each Seller shall continue to service and administer the Purchased Receivables sold by it as agent for the Administrative Agent and the Purchasers, all on terms further set out in this Agreement. (ii) The Seller Representative shall continue to pay the Accrued Aggregate Unreimbursed Purchase Discount on each Termination Settlement Date until the Aggregate Unreimbursed Purchase Discount has been paid in full to the Administrative Agent (for the benefit of the Purchasers) by deposit into the Administrative Agent’s Account. The Refundable Discount Advance will be promptly repaid by the Administrative Agent to the Seller Representative upon payment in full by the Seller Representative of the Aggregate Unreimbursed Purchase Discount in accordance with Section 2.8. Section 2.8.
Effect of Termination Date. The Termination Date shall occur automatically at 11:59(pm) central standard time on September 30, 1997 or pursuant to Section 4.2 hereof. The Existing Events of Default and any Forbearance Period Default will be deemed to exist on the Termination Date and, unless all of such Existing Events of Default and Forbearance Period Defaults have been cured (if curable), the Lender may, at its option and subject to the terms of the Existing Agreements, demand the immediate repayment of all indebtedness owing to it under the Existing Agreements, whereupon all such indebtedness shall be immediately due and payable, and may exercise any rights and remedies that it may have under any of the Existing Agreements, applicable law or otherwise, all of such rights and remedies being expressly reserved by the Lender.
Effect of Termination Date. If the Closing shall not have occurred on or before July 31, 1999, then the provisions of clauses (ii) and (iii) of the first sentence of Section 1.6 of the Agreement and Section 1.6.1 of the Agreement shall be of no further force and effect and the provisions of the Agreement hereby amended by those provisions shall be deemed reinstated as they existed prior hereto.
Effect of Termination Date. Following the occurrence of the Termination Date, the Transferor shall not sell, and the Transferee shall not purchase from the Transferor, any Receivables or Receivables Property. No termination or rejection or failure to assume the executory obligations of this Agreement in any Event of Bankruptcy with respect to the Transferor or the Transferee (or its assignees) shall be deemed to impair or affect the obligations pertaining to any executed sales or other executed obligations or undertakings, including pre-termination breaches of representations and warranties by the Transferor or the Transferee. Notwithstanding anything herein or any other Transaction Document to the contrary (a) the occurrence of the Termination Date shall not discharge any Person from any obligations incurred prior to the Termination Date, including any obligations to make any payments with respect to the interest of the Transferee in any Receivable or other Receivables Property sold, assigned and otherwise conveyed by the Transferor to the Transferee prior to the Termination Date, and (b) the rights and remedies with respect to any breach of any representation and warranty made by the Transferor pursuant to Section 4 (Representations and Warranties), and the provisions of Section 2.3 (Deemed Collections), Section 8 (Indemnification) and Section 9 (Miscellaneous) shall survive the occurrence of the Termination Date or any termination of this Agreement.
Effect of Termination Date. Following the occurrence of the Termination Date in respect of any Originator or Originators, the applicable Originator or Originators shall not sell or contribute, and the Buyer shall not purchase or receive as a capital contribution from such Originator or Originators, any Receivables or Receivables Property. It is understood and agreed that the termination of an Originator pursuant to Section 1.09 (Termination of Status as an Originator) shall constitute a Facility Termination Event and the resulting Originator Termination Event shall apply to all Originators, unless such Facility Termination Event shall have been waived in accordance with the terms of the Receivables Loan Agreement. No termination or rejection or failure to assume the executory obligations of this Agreement in any Event of Bankruptcy with respect to any Originator or the Buyer (or the Buyer’s assignees) shall be deemed to impair or affect the obligations pertaining to any executed sales, executed contributions or other executed obligations or undertakings, including pre-termination breaches of representations and warranties by the Originators or the Buyer. Notwithstanding anything herein or any other Transaction Document to the contrary (a) the occurrence of the Termination Date in respect of any Originator or Originators shall not discharge any Person from any obligations incurred prior to the Termination Date, including any obligations to make any payments with respect to the interest of the applicable Transferee or its assigns in any Receivable or other Receivables Property sold, assigned, transferred and otherwise conveyed by the applicable Originator to the applicable Transferee or its assigns prior to the Termination Date; and (b) the rights and remedies with respect to any breach of any representation and warranty made by any Originator pursuant to Article III (Representations and Warranties), it being understood and agreed that any such rights and remedies shall be no greater than the rights and remedies that existed prior to the Termination Date, and the provisions of Section 1.03 (Deemed Collections), 8.03 (Costs, Expenses and Taxes), 8.05 (No Proceedings) and 8.09 (Choice of Law) shall survive the occurrence of the Termination Date.
Effect of Termination Date. (a) Within three (3) days following the delivery of a termination notice pursuant to Sections 12.02 or 12.03 hereof, each of the Debtors and the Requisite Creditor Parties may waive, in writing, the occurrence of the Termination Event identified in the termination notice. Absent such waiver, this Agreement shall be terminated on the fourth (4th ) day following delivery of the termination notice pursuant to Sections 12.02 or 12.03 hereof (such date, the “Termination Date”). On the Termination Date, the provisions of this Agreement and the Restructuring Term Sheet shall terminate, except as otherwise provided in this Agreement.
