Optional Termination of Aggregate Commitments Sample Clauses
Optional Termination of Aggregate Commitments. Following the occurrence of a Change in Control, the Requisite Lenders may in their sole and absolute discretion elect to terminate the Aggregate Commitments, during the sixty day period immediately subsequent to the later of (a) such occurrence and (b) the earlier of:
(i) receipt of Borrowers’ written notice to the Administrative Agent of such occurrence; and
(ii) if no such notice has been received by the Administrative Agent, the date upon which the Administrative Agent and the Lenders have actual knowledge of such Change in Control. If Requisite Lenders elect to terminate the Aggregate Commitments pursuant to the previous sentence, the Aggregate Commitments shall be terminated effective on the date which is sixty days subsequent to the date of written notice from the Administrative Agent to Borrowers thereof, and:
(i) to the extent that there are then any Obligations outstanding, the same shall be immediately due and payable, and
(ii) to the extent that any Letters of Credit are then outstanding, Borrowers shall provide cash collateral for the same.
Optional Termination of Aggregate Commitments. Following the occurrence of a Change in Control, the Requisite Lenders may in their sole and absolute discretion elect, during the sixty day period immediately subsequent to the later of
(a) such occurrence and
(b) the earlier of
(i) receipt of Borrowers' written notice to the Administrative Agent of such occurrence and
(ii) if no such notice has been received by the Administrative Agent, the date upon which the Administrative Agent and the Lenders have actual knowledge thereof, to terminate the Aggregate Commitments. In any such case the Aggregate Commitments shall be terminated effective on the date which is sixty days subsequent to the date of written notice from the Administrative Agent to Borrowers thereof, and
(i) to the extent that there are then any Obligations outstanding, the same shall be immediately due and payable, and
(ii) to the extent that any Letters of Credit are then outstanding, Borrowers shall provide cash collateral for the same.