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 Borrower will immediately pay to Bank (i) all unpaid Scheduled Payments (including principal and interest) with respect to each Equipment Advance, (ii) all 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 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)

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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 Borrower will 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 remaining Scheduled Payments (including principal and interest unpaid) (iii) all accrued unpaid interest, including interest at the default rate of interestDefault Rate, to the date of the prepayment, (iviii) the Final Payment 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 (Learningstar Inc), Loan and Security Agreement (Smarterkids Com 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 Borrower Borrowers will immediately pay to Bank (i) all unpaid Scheduled Payments (including principal and interest) with respect to each Equipment Advance, (ii) all remaining Scheduled Payments (including principal and interest unpaid) outstanding principal, (iii) all accrued unpaid interest, including the default rate of interest, to the date of the prepayment, (iv) the Final Payment 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)

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 Borrower Borrowers will immediately pay to Bank (i) all unpaid Scheduled Payments (including principal and interest, including the default rate interest for any period where applicable) with respect to each Equipment Advance, (ii) all 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), (iviii) and with respect to any Outstanding Equipment Advance, the applicable Final Payment with respect thereto, and (v) 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 (Blackboard Inc), Loan and Security Agreement (Blackboard 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)Default, then Borrower will shall immediately pay to Bank an amount equal to the sum of: (i) all accrued and unpaid Scheduled Payments (including principal and interest) interest with respect to each the Equipment AdvanceAdvances through the date the prepayment is made, (ii) all remaining Scheduled Payments (including unpaid principal and interest unpaid) with respect to the Equipment Advances, (iii) all accrued the unpaid interest, including the default rate of interest, to the date portion of the prepaymentFinal Payment, and (iv) the Final Payment and (v) all other sums, if any, that shall have become due and payable payable, including interest at the Default Rate with respect to any Equipment Advancepast due amounts.

Appears in 2 contracts

Samples: Loan and Security Agreement (Relypsa Inc), Loan and Security Agreement (Relypsa 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 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 remaining Scheduled Payments (including principal and additional interest unpaid) (iii) all accrued unpaid interest, including due as a result of the default rate Default Rate of interest, to the date of the prepayment, (iv) the Final Payment 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 and/or Supplemental Equipment Advances are accelerated following the occurrence of an Event of Default or otherwise (other than following an Event of Loss), then Borrower Borrowers will immediately pay to Bank (i) all unpaid Scheduled Payments (including principal and interest, including the default rate interest for any period where applicable) with respect to each Equipment Advance and/or Supplemental Equipment Advance, (ii) all 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), (iviii) and with respect to any Outstanding Equipment Advance, the applicable Final Payment with respect thereto, and (v) all other sums, if any, that shall have become due and payable with respect to any Equipment Advance or Supplemental Equipment Advance.

Appears in 2 contracts

Samples: Loan and Security Agreement (Blackboard Inc), Loan and Security Agreement (Blackboard 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 Borrower Borrowers will immediately pay to Bank (i) all unpaid Scheduled Payments (including principal and interest) with respect to each Equipment Advance, (ii) all 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 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 and Security Agreement (Manugistics Group Inc)

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Mandatory Prepayment Upon an Acceleration. If the Equipment Advances and the Advances are accelerated following the occurrence of an Event of Default or otherwise (other than following an Event of Loss), then Borrower will immediately pay to Bank (i) all accrued and unpaid Scheduled Payments (including principal and interest) with respect to each Equipment Advance, (ii) all remaining Scheduled Payments (including principal and interest unpaid) in accordance with the terms of Section 2.2(g) and 2.2(h) below, (iii) all principal and accrued unpaid interest, including the default rate of interest, interest with respect to the date of the prepaymentAdvances, and (iv) the Final Payment and (v) all other sums, if any, that shall have become due and payable with respect to any Equipment Advance or 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 Borrower will immediately pay to Bank (i) all unpaid Scheduled Payments (including principal and interest) with respect to each Equipment Advance, (ii) all 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 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)otherwise, then 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 remaining Scheduled Payments (including principal and interest unpaid) unpaid principal, (iii) all accrued unpaid interest, including the default rate of interest, to the date of the prepayment, and (iv) the 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 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), then 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 remaining Scheduled Payments (including principal and interest unpaid) (iii) all accrued unpaid interest, including interest at the default rate of interestDefault Rate, to the date of the prepayment, (iviii) the 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)

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 Borrower will immediately pay to Bank (i) all unpaid Scheduled Payments (including principal and interest) with respect to each Equipment Advance, (ii) all 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 Final Payment 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)

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