Suspension of Commitments. Upon the occurrence of any Default or Event of Default, notwithstanding any grace period or right to cure, Lender, without notice or demand, may immediately cease making additional Loans and the Commitments shall be suspended; provided that, in the case of a Default, if the subject condition or event is waived or cured within any applicable grace or cure period, the Commitments shall be reinstated.
Appears in 2 contracts
Samples: Loan and Security Agreement (Sun Sportswear Inc), Loan and Security Agreement (Editek Inc)
Suspension of Commitments. Upon the occurrence of any Default or Event of Default, notwithstanding any grace period or right to cure, LenderLender may, without notice or demand, may immediately cease making additional Loans and providing Lender Letters of Credit and the Commitments shall be suspended; provided that, in the case of a Default, if the subject condition or event is waived or cured within any applicable grace or cure period, the Commitments shall be reinstated.
Appears in 1 contract
Suspension of Commitments. Upon the occurrence of any Default or Event ------------------------- of Default, notwithstanding any grace period or right to cure, Lender, without notice or demand, may immediately cease making additional Loans and the Commitments shall be suspended; provided that, in the case of a Default, if the subject condition or event is waived or cured within any applicable grace or cure period, the Commitments shall be reinstated.
Appears in 1 contract
