Common use of Mandatory Prepayment Upon an Acceleration Clause in Contracts

Mandatory Prepayment Upon an Acceleration. If the Equipment Advances are accelerated following the occurrence of an Event of Default or otherwise (other than following an Event of Loss), then Borrowers will immediately pay to Bank (i) all unpaid Scheduled Payments (including principal and interest) with respect to each Equipment Advance, (ii) all outstanding principal, (iii) all accrued unpaid interest, including the default rate of interest, to the date of the prepayment, (iv) the Prepayment Fee, and (v) all other sums, if any, that shall have become due and payable with respect to any Equipment Advance.

Appears in 3 contracts

Samples: Loan and Security Agreement (Manugistics Group Inc), Loan and Security Agreement (Manugistics Group Inc), Loan and Security Agreement (Manugistics Group Inc)

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Mandatory Prepayment Upon an Acceleration. If the Equipment Advances are accelerated following the occurrence of an Event of Default or otherwise (other than following an Event of Loss), then Borrowers Borrower will immediately pay to Bank (i) all unpaid Scheduled Payments (including principal and interest) with respect to each Equipment Advance, (ii) all outstanding principal, remaining Scheduled Payments (including principal and interest unpaid) (iii) all accrued unpaid interest, including the default rate of interest, to the date of the prepayment, (iv) the Prepayment Fee, Final Payment and (v) all other sums, if any, that shall have become due and payable with respect to any Equipment Advance.

Appears in 3 contracts

Samples: Intellectual Property Security Agreement (Homestead Com Inc), Loan and Security Agreement (Synchronoss Technologies Inc), Negative Pledge Agreement (Durect Corp)

Mandatory Prepayment Upon an Acceleration. If the Equipment Advances are accelerated following the occurrence of an Event of Default or otherwise (other than following an Event of Loss), then Borrowers will Borrower shall immediately pay to Bank (i) all unpaid Scheduled Payments (including principal and interest) with respect to each Equipment AdvanceAdvance due prior to the date of prepayment, (ii) all outstanding principal, (iii) all accrued unpaid interest, including interest at the default rate of interestDefault Rate, to the date of the prepayment, (iviii) the Prepayment FeeFinal Payment, and (viv) all other sums, if any, that shall have become due and payable with respect to any Equipment Advance.

Appears in 3 contracts

Samples: Loan and Security Agreement (Smarterkids Com Inc), Loan and Security Agreement (Learningstar Inc), Loan and Security Agreement (Smarterkids Com Inc)

Mandatory Prepayment Upon an Acceleration. If the Equipment Advances are accelerated following the occurrence of an Event of Default or otherwise (other than following an Event of Loss), then Borrowers Borrower will immediately pay to Bank (i) all unpaid Scheduled Payments (including principal and interest) due prior to the date of such prepayment, together with all remaining Scheduled Payments with respect to each Equipment Advance, (ii) all outstanding principal, (iii) all accrued unpaid interest, including additional interest due as a result of the default rate Default Rate of interest, to the date of the prepayment, (iv) the Prepayment Fee, and (viii) all other sums, if any, that shall have become due and payable with respect to any Equipment Advance.

Appears in 2 contracts

Samples: Loan and Security Agreement (Cosine Communications Inc), Loan and Security Agreement (Cosine Communications Inc)

Mandatory Prepayment Upon an Acceleration. If the Equipment Advances are accelerated following the occurrence of an Event of Default or otherwise (other than following an Event of Loss), then Borrowers Borrower will immediately pay to Bank (i) all unpaid Scheduled Payments (including principal and interest) with respect to each Equipment Advance, Advance due prior to the date of prepayment (ii) all outstanding principal, (iii) all accrued unpaid interest, including the default rate of interest, to the date of the prepayment, (iviii) the Prepayment Fee, Final Payment and (viv) all other sums, if any, that shall have become due and payable with respect to any Equipment Advance.

Appears in 1 contract

Samples: Loan and Security Agreement (Egroups Inc)

Mandatory Prepayment Upon an Acceleration. If the Equipment Advances #2 are accelerated following the occurrence of an Event of Default or otherwise (other than following an Event of Loss), then Borrowers Borrower will immediately pay to Bank (i) all unpaid Scheduled Payments (including principal and interest) with respect to each Equipment AdvanceAdvance #2 due prior to the date of prepayment, (ii) all outstanding principal, (iii) all accrued unpaid interest, including the default rate of interest, to the date of the prepayment, (iviii) the Prepayment Fee, Final Payment and (viv) all other sums, if any, that shall have become due and payable with respect to any Equipment AdvanceAdvance #2.

Appears in 1 contract

Samples: Loan Modification Agreement (Anda Networks Inc)

Mandatory Prepayment Upon an Acceleration. If the Equipment Advances are accelerated following the occurrence of an Event of Default or otherwise (other than following an Event of Loss), then Borrowers will immediately pay to Bank (i) all unpaid Scheduled Payments (including principal and interest) with respect to each Equipment Advance, (ii) all outstanding principal, remaining Scheduled Payments (including principal and interest unpaid) (iii) all accrued unpaid interest, including the default rate of interest, to the date of the prepayment, and (iv) the Prepayment Fee, and (v) all other sums, if any, that shall have become due and payable with respect to any Equipment Advance.

Appears in 1 contract

Samples: Loan and Security Agreement (Manugistics Group Inc)

Mandatory Prepayment Upon an Acceleration. If the Equipment Facility Advances are accelerated following the occurrence of an Event of Default or otherwise (other than following an Event of Loss), then Borrowers Borrower will immediately pay to Bank (i) all accrued and unpaid Scheduled Payments (including principal and interest) with respect to each Equipment Advance, Facility Advance (ii) all outstanding principal, remaining Scheduled Payments (iiiincluding principal and interest unpaid) all accrued unpaid interest, including in accordance with the default rate terms of interest, to the date of the prepayment, (ivSection 2.3(j) the Prepayment Feebelow, and (viii) all other sums, if any, that shall have become due and payable with respect to any Equipment Facility Advance.

Appears in 1 contract

Samples: Loan and Security Agreement (Saba Software Inc)

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Mandatory Prepayment Upon an Acceleration. If the Equipment Facility Advances are accelerated following the occurrence of an Event of Default or otherwise (other than following an Event of Loss), then Borrowers Borrower will immediately pay to Bank (i) all accrued and unpaid Scheduled Payments (including principal and interest) with respect to each Equipment Facility Advance, (ii) all outstanding principal, remaining Scheduled Payments (iiiincluding principal and interest unpaid) all accrued unpaid interest, including in accordance with the default rate terms of interest, to the date of the prepayment, (ivSection 2.3(j) the Prepayment Feebelow, and (viii) all other sums, if any, that shall have become due and payable with respect to any Equipment Facility Advance.

Appears in 1 contract

Samples: Loan and Security Agreement (Saba Software Inc)

Mandatory Prepayment Upon an Acceleration. If the Equipment Advances are accelerated following the occurrence of an Event of Default or otherwise (other than following an Event of Loss)otherwise, then Borrowers Borrower will immediately pay to Bank (without duplication) (i) all due and unpaid Scheduled Payments (including principal and interest) with respect to each Equipment Advance, (ii) all outstanding remaining unpaid principal, (iii) all accrued unpaid interest, including the default rate of interest, to the date of the prepayment, and (iv) the Prepayment Fee, and (v) all other sums, if any, that shall have become due and payable with respect to any Equipment Advance.

Appears in 1 contract

Samples: Loan and Security Agreement (Stentor Inc)

Mandatory Prepayment Upon an Acceleration. If the Equipment Advances are accelerated following the occurrence of an Event of Default or otherwise (other than following an Event of Loss)otherwise, then Borrowers Borrower will immediately pay to Bank (i) all unpaid Scheduled Payments (including principal and interest) with respect to each Equipment Advance, (ii) all outstanding principal, remaining Scheduled Payments (including principal and interest unpaid) (iii) all accrued unpaid interest, including the default rate of interest, to the date of the prepayment, (iv) the Prepayment Fee, Final Payment and (v) all other sums, if any, that shall have become due and payable with respect to any Equipment Advance.

Appears in 1 contract

Samples: Loan Modification Agreement (Alexza Pharmaceuticals Inc.)

Mandatory Prepayment Upon an Acceleration. If the Equipment Advances are accelerated following the occurrence of an Event of Default or otherwise (other than following an Event of Loss), then Borrowers Borrower will immediately pay to Bank (i) all unpaid Scheduled Payments (including principal and interest) with respect to each Equipment Advance, (ii) all outstanding principal, (iii) all accrued unpaid interest, including the default rate of interest, to the date of the prepayment, (iv) the Prepayment Fee, and (viii) all other sums, if any, that shall have become due and payable with respect to any Equipment Advance.

Appears in 1 contract

Samples: Loan and Security Agreement (Webridge Inc)

Mandatory Prepayment Upon an Acceleration. If the Equipment Advances are accelerated following the occurrence of an Event of Default or otherwise (other than following an Event of Loss), then Borrowers Borrower will immediately pay to Bank (i) all unpaid Scheduled Payments (including principal and interest) with respect to each Equipment AdvanceAdvance due prior to the date of prepayment, (ii) all outstanding principal, (iii) all accrued unpaid interest, including interest at the default rate of interestDefault Rate, to the date of the prepayment, (iviii) the Prepayment Fee, Final Payment and (viv) all other sums, if any, that shall have become due and payable with respect to any Equipment Advance.

Appears in 1 contract

Samples: Loan and Security Agreement (Opus360 Corp)

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