Common use of Expiration and/or Termination of Commitment Clause in Contracts

Expiration and/or Termination of Commitment. (a) Unless terminated earlier as permitted hereunder, the Commitment shall expire of its own term, and without the necessity of action by Bank, two (2) years following the date of execution of this Agreement. No such expiration, however, shall in and of itself operate to accelerate the due date of any outstanding Company Subsidiary Loan, or otherwise terminate the obligations, terms and covenants herein with respect to any then outstanding Company Subsidiary Loans. (b) Either party shall have the right, without cause, at any time to terminate Bank’s Commitment on not less than six (6) months’ prior written notice to the other party. No such termination, however, shall in and of itself operate to accelerate the due date of any outstanding Company Subsidiary Loan, or otherwise terminate the obligations, terms and covenants herein with respect to any then outstanding Company Subsidiary Loans or with respect to then existing Warehouse Line Loans eligible for refinancing under this Agreement. (c) The Bank shall, furthermore, have the right to terminate the Commitment upon or following the occurrence of an Event of Default as specified in Section 8. No such termination, however, shall in and of itself operate to accelerate the due date of any outstanding Company Subsidiary Loan (other than the occurrence of an Event of Default), or otherwise terminate the obligations, terms and covenants herein with respect to any then outstanding Company Subsidiary Loans. (d) The Bank shall have the right from time to time and in its sole discretion, to extend the term of this Agreement with prior written agreement with Company and each Company Subsidiary. The length of any such extension shall also be determined in Bank’s sole discretion. Such extension may be made subject to the renegotiation of the terms hereunder and to any other such conditions as Bank and/or Company may deem necessary. Under no circumstances shall such an extension by Bank be interpreted or construed as Bank’s waiver, release or forfeiture of any of its rights, entitlements or interests created hereunder. The Company and each Company Subsidiary acknowledges and understands that Bank is under no obligation whatsoever to extend the term of this Agreement beyond its expiration date as originally stated in this Agreement.

Expiration and/or Termination of Commitment. (a) Unless terminated earlier as permitted hereunder, the Commitment shall expire of its own term, and without the necessity of action by the Bank, two (2) years following the date of execution of this Agreement. No such expiration, however, shall in and of itself operate to accelerate the due date of any outstanding Company Subsidiary Loan, or otherwise terminate the obligations, terms and covenants herein with respect to any then outstanding Company Subsidiary Loans. (b) Either party shall have the right, without cause, at any time to terminate Bank’s this Commitment on not less than six (6) months’ ' prior written notice to the other party. No such termination, however, shall in and of itself operate to accelerate the due date of any outstanding Company Subsidiary Loan, or otherwise terminate the obligations, terms and covenants herein with respect to any then outstanding Company Subsidiary Loans or with respect to then existing Warehouse Line Loans eligible for refinancing under this AgreementLoans. (c) The Bank shall, furthermore, have the right to terminate the Commitment upon or following the occurrence of an a Event of Default as specified in Section 8. No such termination, however, shall in and of itself operate to accelerate the due date of any outstanding Company Subsidiary Loan (other than the occurrence of an Event of Default)Loan, or otherwise terminate the obligations, terms and covenants herein with respect to any then outstanding Company Subsidiary Loans. (d) The Bank shall have the right from time to time and in its sole discretion, to extend the term of this Agreement with prior written agreement with the Company and each Company Subsidiary. The length of any such extension shall also be determined in the Bank’s 's sole discretion. Such extension may be made subject to the renegotiation of the terms hereunder and to any other such conditions as the Bank and/or Company may deem necessary. Under no circumstances shall such an extension by the Bank be interpreted or construed as the Bank’s 's waiver, release or forfeiture of any of its rights, entitlements or interests created hereunder. The Company and each Company Subsidiary acknowledges and understands that the Bank is under no obligation whatsoever to extend the term of this Agreement beyond its expiration date as originally stated in this Agreement.

Expiration and/or Termination of Commitment. (a) ~ Unless terminated earlier as permitted hereunder, the Commitment shall expire of its own term, and without the necessity of action by the Bank, two (2) years following the date of execution of this Agreement. No such expiration, however, shall in and of itself operate to accelerate the due date of any outstanding Company Subsidiary Loan, or otherwise terminate the obligations, terms and covenants herein with respect to any then outstanding Company Subsidiary Loans. (b) Either party shall have the right, without cause, at any time to terminate Bank’s this Commitment on not less than six (6) months’ ' prior written notice to the other party. No such termination, however, shall in and of itself operate to accelerate the due date of any outstanding Company Subsidiary Loan, or otherwise terminate the obligations, terms and covenants herein with respect to any then outstanding Company Subsidiary Loans or with respect to then existing Warehouse Line Loans eligible for refinancing under this AgreementLoans. (c) The Bank shall, furthermore, have the right to terminate the Commitment upon or following the occurrence of an a Event of Default as specified in Section 8. No such termination, however, shall in and of itself operate to accelerate the due date of any outstanding Company Subsidiary Loan (other than the occurrence of an Event of Default)Loan, or otherwise terminate the obligations, terms and covenants herein with respect to any then outstanding Company Subsidiary Loans. (d) The Bank shall have the right from time to time and in its sole discretion, to extend the term of this Agreement with prior written agreement with the Company and each Company Subsidiary. The length of any such extension shall also be determined in the Bank’s 's sole discretion. Such extension may be made subject to the renegotiation of the terms hereunder and to any other such conditions as the Bank and/or Company may deem necessary. Under no circumstances shall such an extension by the Bank be interpreted or construed as the Bank’s 's waiver, release or forfeiture of any of its rights, entitlements or interests created hereunder. The Company and each Company Subsidiary acknowledges and understands that the Bank is under no obligation whatsoever to extend the term of this Agreement beyond its expiration date as originally stated in this Agreement.

Expiration and/or Termination of Commitment. (a) Unless terminated earlier as permitted hereunder, the Commitment shall expire of its own term, and without the necessity of action by the Bank, two on August 11, 2007. Notwithstanding anything to the foregoing, for any Advance made by the Bank prior to the termination date, the Company shall still have one hundred twenty (2120) years following days from the date of execution of this Agreement. No such expiration, however, shall in and of itself operate the Advance to accelerate pay the due date Bank the amount of any outstanding Advance or the Company Subsidiary Loanmay, or otherwise terminate at its option, re-finance any such Outstanding Advance through a term loan issued under the obligations, terms and covenants herein with respect to any then outstanding Company Subsidiary LoansSenior Credit Facility. (b) Either party The Bank shall have the right, without cause, at any time to terminate Bank’s Commitment the Agreement on not less than six sixty (660) monthsdays’ prior written notice to the other partyCompany. No During such terminationsixty (60) day notice period, howeverCompany may continue to obtain Advances in accordance with the terms of this Agreement, and upon expiration of such sixty (60) day notice period, as set forth above, Company shall in and of itself operate continue to accelerate have one hundred twenty (120) days from the due date of any outstanding Company Subsidiary Loan, or otherwise terminate each Advance to pay the obligations, terms and covenants herein with respect to Bank the amount of any then outstanding Advances or the Company Subsidiary Loans or with respect to then existing Warehouse Line Loans eligible for refinancing may, at its option, re-finance any such Outstanding Advances through a term loan issued under this Agreementthe Senior Credit Facility. (c) The Bank shall, furthermore, shall also have the right to terminate this Agreement and the Commitment line of credit extended to the Company pursuant to the terms of this Agreement, upon or following any adverse material change in the occurrence Company’s financial condition as defined by the Bank in its reasonable discretion during the term of an Event this Agreement upon written notice to the Company. For purposes of Default as specified in this Section 82.6(c), the term “adverse material change” means Company’s failure to comply with and maintain during the term of this Agreement any of the Financial Requirements set forth under Section 6.15. No such terminationNotwithstanding the foregoing, however, the Company shall in and of itself operate continue to accelerate have one hundred twenty (120) days from the due date of any outstanding Company Subsidiary Loan (other than each Advance to pay the occurrence Bank the amount of an Event of Default), or otherwise terminate the obligations, terms and covenants herein with respect to any then outstanding Company Subsidiary LoansAdvances or, at the discretion of the Bank, may re-finance any such Outstanding Advances through a term loan issued under the Senior Credit Facility. (d) The Bank shall have the right from time to time and in its sole discretion, to extend the term of this Agreement with prior written agreement with Company and each Company Subsidiarynotice to the Company. The length of any such extension shall also be determined in the Bank’s sole discretion. Such extension may be made subject to the renegotiation of the terms hereunder and to any other such conditions as the Bank and/or Company may deem necessary. Under no circumstances shall such an extension by the Bank be interpreted or construed as the Bank’s waiver, release or forfeiture of any of its rights, entitlements or interests interest created hereunder. The Company and each Company Subsidiary acknowledges and understands that the Bank is under no obligation whatsoever to extend the term of this Agreement beyond its expiration date as originally stated in this Agreement, or if extended, to further extend the expiration date beyond any such extension thereof.