Common use of Immediately upon the termination of this Agreement Clause in Contracts

Immediately upon the termination of this Agreement. Borrower agrees to either (i) provide cash collateral to be held by Foothill in an amount equal to 102% of the maximum amount of Foothill's obligations under Letters of Credit, or (ii) cause to be delivered to Foothill releases of all of Foothill's obligations under outstanding Letters of Credit. At Foothill's discretion, any proceeds of Collateral of Borrower received by Foothill after the occurrence and during the continuation of an Event of Default may be held as the cash collateral required by this Section 2.2(e).

Appears in 1 contract

Samples: Loan and Security Agreement (Starcraft Corp /In/)

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Immediately upon the termination of this Agreement. Borrower agrees to either (i) provide cash collateral to be held by Foothill in an amount equal to 102% of the maximum amount of Foothill's obligations under outstanding Letters of Credit, or (ii) cause to be delivered to Foothill releases of all of Foothill's obligations under outstanding Letters of Credit. At Foothill's discretion, any proceeds of Collateral of Borrower received by Foothill after the occurrence and during the continuation of an Event of Default may be held as the cash collateral required by this Section 2.2(e).

Appears in 1 contract

Samples: Loan and Security Agreement (Gi Joes Inc)

Immediately upon the termination of this Agreement. Borrower agrees to either (i) provide cash collateral to be held by Foothill in an amount equal to 102105% of the maximum amount of Foothill's obligations under Letters of Credit, or (ii) cause to be delivered to Foothill releases of all of Foothill's obligations under outstanding Letters of Credit. At Foothill's discretion, any proceeds of Collateral of Borrower received by Foothill after the occurrence and during the continuation of an Event of Default may be held as the cash collateral required by this Section 2.2(e).

Appears in 1 contract

Samples: Loan and Security Agreement (Discovery Zone Inc)

Immediately upon the termination of this Agreement. Borrower agrees to either (i) provide cash collateral to be held by Foothill in an amount equal to 102% of the maximum amount of Foothill's obligations under Letters of Credit, or (ii) cause to be delivered to Foothill releases of all of Foothill's obligations under outstanding Letters of Credit. At Foothill's discretion, any proceeds of Collateral of Borrower received by Foothill after the occurrence and during the continuation of an Event of Default may be held as the cash collateral required by this Section 2.2(e).

Appears in 1 contract

Samples: Loan and Security Agreement (Computron Software Inc)

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Immediately upon the termination of this Agreement. Borrower agrees to either (i) provide cash collateral to be held by Foothill in an amount equal to 102105% of the maximum amount of Foothill's obligations under Letters of Credit, or (ii) cause to be delivered to Foothill releases of all of Foothill's obligations under outstanding Letters of Credit. At Foothill's discretion, any proceeds of Collateral of Borrower or Required Foreign Collateral received by Foothill after the occurrence and during the continuation of an Event of Default may be held as the cash collateral required by this Section 2.2(e).. --------------

Appears in 1 contract

Samples: Loan and Security Agreement (Computervision Corp /De/)

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