Term and Termination of Commitments Sample Clauses

Term and Termination of Commitments. 28 5.1. Term of Commitments...............................................28 5.2. Termination.......................................................28 Section 6. COLLATERAL........................................................29
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Term and Termination of Commitments. Term of Commitments . Subject to each Lender's right to cease making Loans and other extensions of credit to Borrowers when any Default or Event of Default exists or upon termination of the Commitments as provided in Section 6.2, the Commitments shall be in effect for a period (the "Term") commencing on the date hereof and continuing until the close of business on October 26, 2010, unless sooner terminated as provided in Section 6.2.
Sample 1
Term and Termination of Commitments. 63 6.1. Term of Commitments......................................... 63 6.2. Termination................................................. 63 Section 7. COLLATERAL..................................................... 64 7.1. Grant of Security Interest.................................. 64 7.2. Lien on Deposit Accounts.................................... 65 7.3.
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Term and Termination of Commitments. Subject to each Lender's right to cease making Revolver Loans to Borrower when any Default Condition exists or upon termination of the Commitments as provided herein, the Commitments shall be in effect for a period commencing on the date hereof and ending at 5:00 p.m. (Atlanta time) on February 28, 1996 (the "Term"). Agent may (and upon the direction of either Lender, shall) terminate the Commitments without notice upon or after the occurrence of any Event of Default. Upon at least ten (10) days prior written notice to Agent, Borrower may, at its option, terminate the Commitments, but no such termination by Borrower shall be effective until Borrower has paid all of the Revolver Loan Obligations in immediately available funds. Any notice of termination given by Borrower shall be irrevocable unless Agent otherwise agrees in writing. All of the Revolver Loan Obligations shall be immediately due and payable upon the effective date of termination by Agent or, in the case of a termination by Borrower, upon the date specified in Borrower's notice of termination of the Commitments as the effective date of such termination, and on the effective date of any termination (whether by Agent or Borrower) Lender shall have no obligation to make any Revolver Loans. All agreements, covenants and duties of Borrower contained in this Agreement and the Related Agreements shall survive any such termination and Agent shall retain all of its rights and remedies under this Agreement and the Related Agreements notwithstanding such termination until all of the Revolver Loan Obligations have been paid in full, in immediately available funds.
Sample 1
Term and Termination of Commitments. (a) Term of Commitments. Subject to each Lender's right to cease making Loans and other extensions of credit to Borrowers when any Default or Event of Default exists or upon termination of the Commitments as provided in Section 2.28(b) below, the Commitments shall be in effect for a period (the "Term") from the date hereof, through the close of business on March 1, 2018, unless sooner terminated as provided in Section 2.28(b) below; provided, that, notwithstanding the foregoing, if Agent has not received on or before December 31, 2015, evidence satisfactory to Agent that the scheduled maturity dates of the Indebtedness arising under each of the Senior Secured Notes Documents and the $125,000,000 Unsecured Debt Documents, in each case, have been extended to a date that is ninety (90) or more days following March 1, 2018, then the last day of the Term shall be January 1, 2016.
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Term and Termination of Commitments. 5.1. Term of Commitments Subject to each DIP Secured Party's right to cease making Revolver Loans and other extensions of credit to Borrowers when any Default or Event of Default exists or upon termination of the Commitments as provided in Section 5.2 hereof, the Commitments shall be in effect for a period beginning on the Closing Date and ending on the close of business on the Revolver Maturity Date.
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Term and Termination of Commitments 
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Related to Term and Termination of Commitments

  • Optional Reduction and Termination of Commitments (a) Unless previously terminated, all Revolving Commitments, Swingline Commitments and LC Commitments shall terminate on the Revolving Commitment Termination Date.

  • Termination of Commitments Declare the Commitments terminated whereupon the Commitments shall be immediately terminated.

  • Termination and Reduction of Commitments (a) Unless previously terminated, the Commitments shall terminate on the Maturity Date.

  • Reduction and Termination of the Commitments The Borrower shall have the right at any time and from time to time upon five (5) Business Days’ prior written notice to the Agent to reduce the Total Commitments by $5,000,000 or an integral multiple of $500,000 in excess thereof (provided that in no event shall the Total Commitment be reduced in such manner to an amount less than twenty-five percent (25%) of the largest Total Commitment ever existing under this Agreement) or to terminate entirely the Commitments, whereupon the Commitments of the Lenders shall be reduced pro rata in accordance with their respective Commitment Percentages of the amount specified in such notice or, as the case may be, terminated, any such termination or reduction to be without penalty except as otherwise set forth in §4.8; provided, however, that no such termination or reduction shall be permitted if, after giving effect thereto, the sum of Outstanding Revolving Credit Loans and Swing Loans and the Letter of Credit Liabilities would exceed the Commitments of the Lenders as so terminated or reduced. Promptly after receiving any notice from the Borrower delivered pursuant to this §2.3, the Agent will notify the Lenders of the substance thereof. Any reduction of the Commitment shall also result in a proportionate reduction (rounded to the next lowest integral multiple of $100,000) in the maximum amount of Swing Loans and available Letters of Credit. Upon the effective date of any such reduction or termination, the Borrower shall pay to the Agent for the respective accounts of the Lenders the full amount of any Facility Fee under §2.2 then accrued on the amount of the reduction. No reduction or termination of the Commitments may be reinstated.

  • Termination of Commitment On the service of a notice under paragraph (a) of Clause 18.2, the Commitment and all other obligations of the Lender to the Borrower under this Agreement shall terminate.

  • Term and Termination of Agreement 1. This Agreement shall run for a period of one (1) year from the date first written above and will be renewed from year to year thereafter unless terminated by either party as provided hereunder.

  • Reduction or Termination of Commitments Unless previously terminated, the Commitments shall terminate on the Revolving Commitment Termination Date. The Borrower shall have the right, upon not less than two Business Days’ written notice to the Administrative Agent, to terminate the Commitments or, from time to time, reduce the amount of the Commitments; provided, however, that the Borrower shall not terminate or reduce any Commitment if, after giving effect to any concurrent repayment of the Loans in accordance with Section 2.07 and Section 2.08, the total Credit Exposure of the Lenders would exceed the sum of total Commitments. Any reduction shall be accompanied by prepayment of the Loans to the extent, if any, that the total Credit Exposure of the Lenders then outstanding exceeds the sum of the total Commitments as then reduced. Any termination of the Commitments shall be accompanied by prepayment in full of the Loans then outstanding and the payment of any unpaid fees then accrued hereunder. Upon receipt of such notice, the Administrative Agent shall promptly notify each Lender thereof. Any partial reduction shall be in an amount of $5,000,000 or a whole multiple thereof and shall reduce permanently the total amount of the Commitments, together with a corresponding reduction in the aggregate amount of each Lender’s applicable Commitment. The Commitments, once terminated or reduced, may not be reinstated. Each reduction of the Commitments shall be made ratably among the Lenders in accordance with their Commitments (except for in connection with the termination of this Agreement as to any Lender pursuant to Section 10.15).

  • Scheduled Termination of Commitments Unless previously terminated, the Commitments shall terminate on the Maturity Date. If at any time the Aggregate Maximum Credit Amounts or the Borrowing Base is terminated or reduced to zero, then the Commitments shall terminate on the effective date of such termination or reduction.

  • Termination of Commitment to Lend Notwithstanding anything in the Loan Documents, Lender’s obligation to lend the undisbursed portion of the Commitment Amount to Borrower hereunder shall terminate on the earlier of (i) at Lender’s sole election, the occurrence of any Default or Event of Default hereunder, and (ii) the applicable Commitment Termination Date. Notwithstanding the foregoing, Lender’s obligation to lend the undisbursed portion of the Commitment Amount to Borrower shall terminate if, in Lender’s sole judgment, there has been a material adverse change in the general affairs, management, results of operations, condition (financial or otherwise) or prospects of Borrower, whether or not arising from transactions in the ordinary course of business, or there has been any material adverse deviation by Borrower from the business plan of Borrower presented to Lender on or before the date of this Agreement.

  • Term and Termination of the Agreement 3.1 This Agreement shall remain in effect from the date appearing at the top of this Agreement for a period of twenty-four (24) months and continuing thereafter automatically for additional six (6) month terms unless and until terminated by either party upon written notice to the other party given at least thirty (30) days prior to the expiration of the then current term.

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