Common use of Effect of Termination; Voluntary Termination Clause in Contracts

Effect of Termination; Voluntary Termination. (a) Any termination of this Agreement shall not affect any rights of any party or any obligation of any party to the other, arising prior to the effective date of such termination, and the provisions hereof shall continue to be fully operative until all transactions entered into, rights created or Obligations incurred prior to such termination have been fully disposed of, concluded or liquidated. The security interest, other Liens and rights granted to Lender hereunder and under the Loan Documents shall continue in full force and effect, notwithstanding the termination of this Agreement or the fact that no Loans are outstanding to Borrowers, until all of the Obligations have been paid in full and satisfied.

Appears in 2 contracts

Samples: Credit Agreement (Ceco Environmental Corp), Credit Agreement (Ceco Environmental Corp)

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Effect of Termination; Voluntary Termination. (a) Any The termination of this Agreement shall not affect any rights of any party or any obligation of any party to the other, arising prior to the effective date of such termination, and the provisions hereof shall continue to be fully operative until all transactions entered into, rights created or Obligations incurred prior to such termination have been fully disposed of, concluded or liquidated. The security interest, other Liens and rights granted to Lender hereunder and under the Loan Documents shall continue in full force and effect, notwithstanding the termination of this Agreement or the fact that no Loans are outstanding to Borrowersoutstanding, until all of the Obligations have been paid in full and satisfiedthis Agreement is terminated.

Appears in 1 contract

Samples: Credit Agreement (Twinlab Consolidated Holdings, Inc.)

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Effect of Termination; Voluntary Termination. (a) Any The termination of this Agreement shall not affect any rights of any either party or any obligation of any either party to the other, arising prior to the effective date of such termination, and the provisions hereof shall continue to be fully operative until all transactions entered into, rights created or Obligations incurred prior to such termination have been fully disposed of, concluded or liquidated. The security interest, other Liens lien and rights granted to Lender hereunder and under the Loan Documents shall continue in full force and effect, notwithstanding the termination of this Agreement or the fact that no portion of the Loans are is outstanding to BorrowersBorrower, until all of the Obligations have been indefeasibly paid and satisfied in full and satisfiedfull.

Appears in 1 contract

Samples: Credit Agreement (Universal Technical Institute Inc)

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