Common use of Payment in Full on Termination Clause in Contracts

Payment in Full on Termination. On termination of this Agreement or upon acceleration of the Obligations, Borrower shall pay to Bank the entire outstanding principal balance of all Revolving Loans and shall deliver to Bank cash collateral in an amount equal to the aggregate of (A) amounts then undrawn on all outstanding Letters of Credit issued pursuant to this Agreement for the account of the Borrower, and (B) the amount of all outstanding acceptances issued pursuant to this Agreement.

Appears in 2 contracts

Samples: Loan and Security Agreement (Starrett L S Co), Loan and Security Agreement (Starrett L S Co)

AutoNDA by SimpleDocs

Payment in Full on Termination. On termination of this Agreement Agreement, pursuant to Section 21 or upon acceleration of the ObligationsObligations pursuant to Section 16, Borrower shall pay to Bank the entire outstanding principal balance of all Revolving Loans loans and shall deliver to Bank cash collateral in an amount equal to the aggregate of (A) amounts then undrawn on all outstanding Letters of Credit issued pursuant to this Agreement for the account of the Borrower, and (B) the amount of all outstanding acceptances issued pursuant to this Agreement.

Appears in 1 contract

Samples: Loan and Security Agreement (Icad Inc)

Payment in Full on Termination. On termination of this Agreement ------------------------------ Agreement, pursuant to Section 18 or upon acceleration of the Obligationsobligations pursuant to Section 14, Borrower shall pay to Bank Lender the entire outstanding principal balance of all Revolving Loans loans and shall deliver to Bank Lender cash collateral in an amount equal to the aggregate of (A) amounts then undrawn on all outstanding Letters of Credit issued pursuant to this Agreement guaranteed by the Lender for the account of the Borrower, and (B) the amount of all outstanding acceptances issued pursuant to this Agreement.

Appears in 1 contract

Samples: Loan and Security Agreement (Aseco Corp)

Payment in Full on Termination. On termination of this Agreement Loan Agreement, pursuant to Section 21 or upon acceleration of the Obligationsobligations pursuant to Section 16, Borrower the Borrowers shall pay to the Bank the entire outstanding principal balance of all Loans evidenced by the Revolving Loans Note and shall deliver to the Bank cash collateral in an amount equal to the aggregate of (A) amounts then undrawn on all outstanding Letters of Credit issued pursuant to this Loan Agreement for the account of the BorrowerBorrowers, and (B) the amount of all outstanding acceptances issued pursuant to this Loan Agreement.

Appears in 1 contract

Samples: Loan and Security Agreement (Smith & Wesson Holding Corp)

Payment in Full on Termination. On termination of this Agreement Agreement, pursuant to Section 14 or upon acceleration of the Obligationsobligations pursuant to Section 11, Borrower shall pay to Bank the entire outstanding principal balance of all Revolving Loans loans and shall deliver to Bank cash collateral in an amount equal to the aggregate of (A) amounts then undrawn on all outstanding Letters of Credit issued pursuant to this Agreement for the account of the Borrower, and (B) the amount of all outstanding acceptances issued pursuant to this Agreement.

Appears in 1 contract

Samples: Loan Agreement (Palomar Medical Technologies Inc)

Payment in Full on Termination. On termination of this Agreement or upon acceleration of the Obligations, Borrower shall pay to Bank the entire outstanding principal balance of all Revolving Loans and the Term Loan and shall deliver to Bank cash collateral in an amount equal to the aggregate of (A) amounts then undrawn on all outstanding Letters of Credit issued pursuant to this Agreement for the account of the Borrower, and (B) the amount of all outstanding acceptances issued pursuant to this Agreement.

Appears in 1 contract

Samples: Loan and Security Agreement (Starrett L S Co)

AutoNDA by SimpleDocs

Payment in Full on Termination. On termination of this Agreement Agreement, pursuant to Section 23 or upon acceleration of the Obligationsobligations pursuant to Section 18, Borrower shall pay to Bank the entire outstanding principal balance of all Revolving Loans loans and shall deliver to Bank cash collateral in an amount equal to the aggregate of (A) amounts then undrawn on all outstanding Letters of Credit issued pursuant to this Agreement for the account of the Borrower, and (B) the amount of all outstanding acceptances issued pursuant to this Agreement.

Appears in 1 contract

Samples: Loan and Security Agreement (Irobot Corp)

Payment in Full on Termination. On termination of this Agreement Agreement, pursuant to Section 19 or upon acceleration of the Obligationsobligations pursuant to Section 15, Borrower shall pay to Bank the entire outstanding principal balance of all Revolving Loans loans and shall deliver to Bank cash collateral in an amount equal to the aggregate of (A) amounts then undrawn on all outstanding Letters of Credit issued pursuant to this Agreement for the account of the Borrower, and (B) the amount of all outstanding acceptances issued pursuant to this Agreement.

Appears in 1 contract

Samples: Loan and Security Agreement (Webhire Inc)

Payment in Full on Termination. On termination of this Agreement Agreement, ------------------------------ pursuant to Section 19 or upon acceleration of the Obligationsobligations pursuant to Section 15, Borrower shall pay to Bank the entire outstanding principal balance of all Revolving Loans loans and shall deliver to Bank cash collateral in an amount equal to the aggregate of (A) amounts then undrawn on all outstanding Letters of Credit issued pursuant to this Agreement for the account of the Borrower, and (B) the amount of all outstanding acceptances issued pursuant to this Agreement.

Appears in 1 contract

Samples: Loan and Security Agreement (Seachange International Inc)

Time is Money Join Law Insider Premium to draft better contracts faster.