Common use of Loan Term; Voluntary Termination Clause in Contracts

Loan Term; Voluntary Termination. (i) The original term of the Line of Credit Commitment shall be for a period of one year from the Closing Date (the “Loan Term”). Thereafter, the Loan Term shall automatically be extended on each anniversary of the Closing Date for an additional one year period unless either party terminates the Loan as set forth hereunder. Upon ninety (90) days prior written notice to the Borrower, the Bank may, at its option, terminate the Line of Credit Commitment. Upon written notice to the Bank, the Borrower may, at its option, terminate the Line of Credit Commitment. Bank may also terminate the Line of Credit Commitment pursuant to Section 10 hereof. Upon the effective date of a termination of the Line of Credit Commitment effected by Borrower, the principal of and all accrued but unpaid interest on the Loan Indebtedness shall be forthwith due and payable, but all of the duties and covenants of Borrower hereunder, and all rights, remedies and privileges of Bank under this Agreement and Bank’s security interest in the Collateral, shall continue in full force and effect until all of the Loan Indebtedness is fully and finally paid. In the event Bank elects to terminate, (i) Bank shall continue to make Advances until the effective date of the termination and (ii) Advances outstanding at the effective date of the termination shall be repaid according to an eighteen (18) month amortization schedule or a twenty-four (24) month amortization schedule provided above, provided that, notwithstanding the foregoing all outstanding Loan Indebtedness shall be due and payable in full on the 24th Payment Date following termination of the Line of Credit Commitment by the Bank. Nothing set forth in this Section 2.8 shall be deemed to limit the ability of the Bank to declare all amounts outstanding under the Note immediately due and payable upon the occurrence of an Event of Default hereunder as provided herein.

Loan Term; Voluntary Termination. (i) The original term of the Line of Credit Commitment shall be for a period of one year 364 days from the Closing Date (the “Loan Term”). Thereafter, the Loan Term shall automatically be extended on each anniversary of the Closing Date for an additional one year 364 day period unless either party terminates the Loan Line of Credit Commitment as set forth hereunder. Upon ninety (90) days prior written notice to the Borrower, the Bank may, at its option, terminate the Line of Credit Commitment. Upon written notice to the Bank, the Borrower may, at its option, terminate the Line of Credit Commitment. Bank may also terminate the Line of Credit Commitment pursuant to Section 10 hereof. Upon the effective date of a termination of the Line of Credit Commitment effected by Borrower, the principal of and all accrued but unpaid interest on the Loan Indebtedness in respect of the Line of Credit Loans shall be forthwith due and payable, but all of the duties and covenants of Borrower hereunder, and all rights, remedies and privileges of Bank under this Agreement and Bank’s security interest in the Collateral, shall continue in full force and effect until all of the Loan Indebtedness in respect of the Line of Credit Loans is fully and finally paid. In the event Bank elects to terminate, (ia) Bank shall continue to make Advances until the effective date of the termination and (iib) Advances outstanding at the effective date of the termination shall be repaid according to an eighteen (18) month amortization schedule or a the twenty-four (24) month amortization schedule provided above, provided provided, however, that, notwithstanding the foregoing all outstanding Loan Indebtedness in respect of the Line of Credit Loans shall be due and payable in full on the 24th Payment Date following termination of the Line of Credit Commitment by the Bank. Nothing set forth in this Section 2.8 2.6(i) shall be deemed to limit the ability of the Bank to declare all amounts outstanding under the Line of Credit Note immediately due and payable upon the occurrence of an Event of Default hereunder as provided herein.

Loan Term; Voluntary Termination. (i) The original term of the Line of Credit Commitment shall be for a period of one year 364 days from the Closing Date (the “Loan Term”). Thereafter, the Loan Term shall automatically be extended on each anniversary of the Closing Date for an additional one year 364 day period unless either party terminates the Loan Line of Credit Commitment as set forth hereunder. Upon ninety (90) days prior written notice to the Borrower, the Bank may, at its option, terminate the Line of Credit Commitment. Upon written notice to the Bank, the Borrower may, at its option, terminate the Line of Credit Commitment. Bank may also terminate the Line of Credit Commitment pursuant to Section 10 hereof. Upon the effective date of a termination of the Line of Credit Commitment effected by Borrower, the principal of and all accrued but unpaid interest on the Loan Indebtedness in respect of the Line of Credit Loans shall be forthwith due and payable, but all of the duties and covenants of Borrower hereunder, and all rights, remedies and privileges of Bank under this Agreement and Bank’s security interest in the Collateral, shall continue in full force and effect until all of the Loan Indebtedness in respect of the Line of Credit Loans is fully and finally paid. In the event Bank elects to terminate, (ia) Bank shall continue to make Advances until the effective date of the termination and (iib) Advances outstanding at the effective date of the termination shall be repaid according to an eighteen (18) month amortization schedule or a the twenty-four (24) month amortization schedule provided above, provided provided, however, that, notwithstanding the foregoing all outstanding Loan Indebtedness in respect of the Line of Credit Loans shall be due and payable in full on the 24th Payment Date following termination of the Line of Credit Commitment by the Bank. Nothing set forth in this Section 2.8 2.8(i) shall be deemed to limit the ability of the Bank to declare all amounts outstanding under the Line of Credit Note immediately due and payable upon the occurrence of an Event of Default hereunder as provided herein.

Loan Term; Voluntary Termination. (i) The original term of the Line of Credit Commitment shall be for a period of one year 364 days from the Closing Date (the “Loan Term”). Thereafter, the Loan Term shall automatically may be extended on each anniversary from time to time in the sole discretion of the Closing Date Bank for an additional one year period up to 364 days (the “Extended Loan Term”) by written notice from Bank to Borrower unless either party terminates the Loan Line of Credit Commitment as set forth hereunder. Upon ninety (90) days prior written notice to the Borrower, the Bank may, at its option, terminate the Line of Credit Commitment. Upon written notice to the Bank, the Borrower may, at its option, terminate the Line of Credit Commitment. The Bank may, at its option, terminate the Line of Credit Commitment, which termination will occur on the earlier of: (x) on the then-current Maturity Date should the Bank determine it will not extend the Line of Credit Commitment beyond the Loan Term or the Extended Loan Term, as provided for in the immediately preceding sentence and without further notice or action by the Bank, or (y) upon ninety (90) days prior written notice to the Borrower for any termination other than on the then-current Maturity Date. Bank may also terminate the Line of Credit Commitment pursuant to Section 10 hereof. Upon the effective date of a termination of the Line of Credit Commitment effected by Borrower, the principal of and all accrued but unpaid interest on the Loan Indebtedness in respect of the Line of Credit Loans shall be forthwith due and payable, but all of the duties and covenants of Borrower hereunder, and all rights, remedies and privileges of Bank under this Agreement and Bank’s security interest in the Collateral, shall continue in full force and effect until all of the Loan Indebtedness in respect of the Line of Credit Loans is fully and finally paid. In the event Bank elects to terminate, (ia) Bank shall continue to make Advances until the effective date of the termination and (iib) Advances outstanding at the effective date of the termination shall be repaid according to an eighteen (18) month amortization schedule or a the twenty-four (24) month amortization schedule provided above, provided provided, however, that, notwithstanding the foregoing all outstanding Loan Indebtedness in respect of the Line of Credit Loans shall be due and payable in full on the 24th Payment Date following termination of the Line of Credit Commitment by the Bank. Nothing set forth in this Section 2.8 2.8(i) shall be deemed to limit the ability of the Bank to declare all amounts outstanding under the Line of Credit Note immediately due and payable upon the occurrence of an Event of Default hereunder as provided herein.

Loan Term; Voluntary Termination. (i) The original term of the Line of Credit Loan Commitment shall be for a period of one year from the Closing Date (the “"Loan Term”"). Thereafter, the Loan Term shall automatically be extended on each anniversary of the Closing Date for an additional one year period unless either party terminates the Loan as set forth hereunder. Upon ninety (90) days prior written notice to the Borrower, the Bank may, at its option, terminate the Line of Credit Loan Commitment. Upon written notice to the Bank, the Borrower may, at its option, terminate the Line of Credit Loan Commitment. Bank may also terminate the Line of Credit Loan Commitment pursuant to Section 10 hereof. Upon the effective date of a termination of the Line of Credit Loan Commitment effected by Borrower, the principal of and all accrued but unpaid interest on the Loan Indebtedness shall be forthwith due and payable, but all of the duties and covenants of Borrower hereunder, and all rights, remedies and privileges of Bank under this Agreement and Bank’s 's security interest in the Collateral, shall continue in full force and effect until all of the Loan Indebtedness is fully and finally paid. In the event Bank elects to terminate, (i) Bank shall continue to make Advances until the effective date of the termination and (ii) Advances outstanding at the effective date of the termination shall be repaid according to an eighteen (18) month amortization schedule or a twenty-four (24) month amortization schedule provided aboveabove with respect to Electronic Equipment Advances, provided that, notwithstanding the foregoing all outstanding Loan Indebtedness shall be due and payable in full on the 24th 18th Payment Date following termination of the Line of Credit Loan Commitment by the Bank. Nothing set forth in this Section 2.8 2.4 shall be deemed to limit the ability of the Bank to declare all amounts outstanding under the Note immediately due and payable upon the occurrence of an Event of Default hereunder as provided herein.

Loan Term; Voluntary Termination. (i) The original term of the Line of Credit Commitment shall be for a period of one year 364 days from the Closing Date (the “Loan Term”). Thereafter, the Loan Term shall automatically may be extended on each anniversary from time to time in the sole discretion of the Closing Date Bank for an additional one year period up to 364 days (the “Extended Loan Term”) by written notice from Bank to Borrower unless either party terminates the Loan Line of Credit Commitment as set forth hereunder. Upon ninety (90) days prior written notice to the Borrower, the Bank may, at its option, terminate the Line of Credit Commitment. Upon written notice to the Bank, the Borrower may, at its option, terminate the Line of Credit Commitment. The Bank may, at its option, terminate the Line of Credit Commitment, which termination will occur on the earlier of: (x) on the then-current Maturity Date should the Bank determine it will not extend the Line of Credit Commitment beyond the Loan Term or the Extended Loan Term, as provided for in the immediately preceding sentence and without further notice or action by the Bank, or (y) upon ninety (90) days prior written notice to the Borrower for any termination other than on the then-current Maturity Date. Bank may also terminate the Line of Credit Commitment pursuant to Section 10 hereof. Upon the effective date of a termination of the Line of Credit Commitment effected by Borrower, the principal of and all accrued but unpaid interest on the Loan Indebtedness shall be forthwith due and payable, but all of the duties and covenants of Borrower hereunder, and all rights, remedies and privileges of Bank under this Agreement and Bank’s security interest in the Collateral, shall continue in full force and effect until all of the Loan Indebtedness is fully and finally paid. In the event Bank elects to terminate, (i) Bank shall continue to make Advances until the effective date of the termination and (ii) Advances outstanding at the effective date of the termination shall be repaid according to an eighteen (18) month amortization schedule or a twenty-four (24) month amortization schedule provided above, provided that, notwithstanding the foregoing all outstanding Loan Indebtedness shall be due and payable in full on the 24th Payment Date following termination of the Line of Credit Commitment by the Bank. Nothing set forth in this Section 2.8 shall be deemed to limit the ability of the Bank to declare all amounts outstanding under the Note immediately due and payable upon the occurrence of an Event of Default hereunder as provided herein.