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 shall immediately pay to Bank (i) all unpaid Scheduled Payments with respect to each Equipment Advance due prior to the date of prepayment, (ii) all accrued unpaid interest, including interest at the Default Rate, to the date of the prepayment, (iii) the Final Payment, and (iv) 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)

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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 shall Borrowers will immediately pay to Bank (i) all unpaid Scheduled Payments (including principal and interest) with respect to each Equipment Advance due prior to the date of prepaymentAdvance, (ii) all outstanding principal, (iii) all accrued unpaid interest, including interest at the Default Ratedefault rate of interest, to the date of the prepayment, (iiiiv) the Final PaymentPrepayment Fee, and (ivv) 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 shall will immediately pay to Bank (i) all unpaid Scheduled Payments with respect to each Equipment Advance due prior to the date of such prepayment, together with all remaining Scheduled Payments with respect to each Equipment Advance, (ii) all accrued unpaid interest, including additional interest at due as a result of the Default RateRate of interest, to the date of the prepayment, (iii) the Final Payment, and (iv) 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 #2 are accelerated following the occurrence of an Event of Default or otherwise (other than following an Event of Loss), then Borrower shall will immediately pay to Bank (i) all unpaid Scheduled Payments with respect to each Equipment Advance #2 due prior to the date of prepayment, (ii) all accrued unpaid interest, including interest at the Default Ratedefault rate of interest, to the date of the prepayment, (iii) the Final Payment, Payment and (iv) 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 Facility Advances are accelerated following the occurrence of an Event of Default or otherwise (other than following an Event of Loss), then Borrower shall will immediately pay to Bank (i) all accrued and unpaid Scheduled Payments (including principal and interest) with respect to each Equipment Facility Advance due prior to the date of prepayment, (ii) all accrued unpaid interest, remaining Scheduled Payments (including principal and interest at unpaid) in accordance with the Default Rate, to the date terms of the prepayment, (iiiSection 2.3(j) the Final Paymentbelow, and (iviii) 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 Borrower shall will immediately pay to Bank (i) all unpaid Scheduled Payments (including principal and interest) with respect to each Equipment Advance due prior to the date of prepaymentAdvance, (ii) all remaining Scheduled Payments (including principal and interest unpaid) (iii) all accrued unpaid interest, including interest at the Default Ratedefault rate of interest, to the date of the prepayment, (iiiiv) the Final Payment, Payment and (ivv) 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 (Alexza Pharmaceuticals 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 Borrower shall will immediately pay to Bank (i) all accrued and unpaid Scheduled Payments (including principal and interest) with respect to each Equipment Advance due prior to the date of prepaymentFacility Advance, (ii) all accrued unpaid interest, remaining Scheduled Payments (including principal and interest at unpaid) in accordance with the Default Rate, to the date terms of the prepayment, (iiiSection 2.3(j) the Final Paymentbelow, and (iviii) 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), then Borrower shall will immediately pay to Bank (i) all unpaid Scheduled Payments with respect to each Equipment Advance due prior to the date of prepayment, (ii) all accrued unpaid interest, including interest at the Default Rate, to the date of the prepayment, (iii) the Final Payment, Payment and (iv) 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 2 Advances are accelerated following the occurrence of an Event of Default or otherwise (other than following an Event of Loss)otherwise, then Borrower shall will immediately pay to Bank (i) all unpaid Scheduled Payments (including principal and interest) with respect to each Equipment Advance due prior to the date of prepayment2 Advance, (ii) all remaining Scheduled Payments (including principal and interest unpaid) (iii) all accrued unpaid interest, including interest at the Default Ratedefault rate of interest, to the date of the prepayment, (iiiiv) the Final Payment, Payment and (ivv) all other sums, if any, that shall have become due and payable with respect to any Equipment 2 Advance.

Appears in 1 contract

Samples: Loan and Security Agreement (Alexza Pharmaceuticals Inc.)

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