Common use of Term; Automatic Renewal Clause in Contracts

Term; Automatic Renewal. This Agreement shall become effective upon the execution and delivery hereof by Borrower and Foothill and shall continue in full force and effect for a term ending December 28, 2007 (the “Renewal Date”) and automatically shall be renewed for successive one (1) year periods thereafter, unless sooner terminated pursuant to the terms hereof. Either party may terminate this Agreement effective on the Renewal Date or on any one (1) year anniversary of the Renewal Date by giving the other party at least one hundred twenty (120) days prior written notice by registered or certified mail, return receipt requested. The foregoing notwithstanding, Foothill shall have the right to terminate its obligations under this Agreement immediately and without notice upon the occurrence and during the continuation of an Event of Default.” (j) Section 3.5 of the Agreement is hereby amended and restated in its entirety as follows:

Appears in 1 contract

Samples: Loan and Security Agreement (Image Entertainment Inc)

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Term; Automatic Renewal. This Agreement shall become effective upon the execution and delivery hereof by Borrower and Foothill and shall continue in full force and effect for a term ending December 2829, 2007 2005 (the "Renewal Date") and automatically shall be renewed for successive one (1) year periods thereafter, unless sooner terminated pursuant to the terms hereof. Either party may terminate this Agreement effective on the Renewal Date or on any one (1) year anniversary of the Renewal Date by giving the other party at least one hundred twenty (120) days prior written notice by registered or certified mail, return receipt requested. The foregoing notwithstanding, Foothill shall have the right to terminate its obligations under this Agreement immediately and without notice upon the occurrence and during the continuation of an Event of Default.” (j) Section 3.5 of the Agreement is hereby amended and restated in its entirety as follows:"

Appears in 1 contract

Samples: Loan and Security Agreement (Image Entertainment Inc)

Term; Automatic Renewal. This Agreement shall become effective upon the execution and delivery hereof by Borrower and Foothill and shall continue in full force and effect for a term ending December 28on July 31, 2007 2002 (the "Renewal Date") and automatically shall be renewed for successive one (1) year periods thereafter, unless sooner terminated pursuant to the terms hereof. Either party may terminate this Agreement effective on the Renewal Date or on any one (1) year anniversary of the Renewal Date by giving the other party at least one hundred twenty (120) 90 days prior written notice by registered or certified mail, return receipt requested. The foregoing notwithstanding, Foothill shall have the right to terminate its obligations under this Agreement immediately and without notice upon the occurrence and during the continuation of an Event of Default.” (j) Section 3.5 of the Agreement is hereby amended and restated in its entirety as follows:"

Appears in 1 contract

Samples: Loan and Security Agreement (Childrens Place Retail Stores Inc)

Term; Automatic Renewal. This Agreement shall become effective upon the execution and delivery hereof by Borrower and Foothill and shall continue in full force and effect for a term ending December 28on June 30, 2007 1997 (the "Renewal Date") and automatically shall be renewed for successive one (1) year periods thereafter, unless sooner terminated pursuant to the terms hereof. Either party may terminate this Agreement effective on the Renewal Date or on any one (1) year anniversary of the Renewal Date by giving the other party at least one hundred twenty ninety (12090) days prior written notice by registered or certified mail, return receipt requested. The foregoing notwithstanding, Foothill shall have the right to terminate its obligations under this Agreement immediately and without notice upon the occurrence and during the continuation of an Event of Default.” (j) Section 3.5 of the Agreement is hereby amended and restated in its entirety as follows:

Appears in 1 contract

Samples: Loan and Security Agreement (Action Industries Inc)

Term; Automatic Renewal. This Agreement shall become effective upon the execution and delivery hereof by Borrower and Foothill and shall continue in full force and effect for a term ending December 28on July 31, 2007 2002 (the "Renewal Date") and automatically shall be renewed for successive one (1) year periods thereafter, unless sooner terminated pursuant to the terms hereof. Either party may terminate this Agreement effective on the Renewal Date or on any one (1) year anniversary of the Renewal Date by giving the other party at least one hundred twenty (120) 90 days prior written notice by registered or certified mail, return receipt requested. The foregoing notwithstanding, Foothill shall have the right to terminate its obligations under this Agreement immediately and without notice upon the occurrence and during the continuation of an Event of Default." (je) Section 3.5 6.13 of the Agreement is hereby amended and restated in its entirety to read as follows:

Appears in 1 contract

Samples: Loan and Security Agreement (Childrens Place Retail Stores Inc)

Term; Automatic Renewal. This Agreement shall become effective upon the execution and delivery hereof by Borrower and Foothill and shall continue in full force and effect for a term ending December 28on August 1, 2007 1998 (the "Renewal Date") and automatically shall be renewed for successive one (1) year periods thereafter, unless sooner terminated pursuant to the terms hereof. Either party may terminate this Agreement effective on the Renewal Date or on any one (1) year anniversary of the Renewal Date by giving the other party at least one hundred twenty ninety (12090) days prior written notice by registered or certified mail, return receipt requested. The foregoing notwithstanding, Foothill shall have the right to terminate its obligations under this Agreement immediately and without notice upon the occurrence and during the continuation of an Event of Default.” (j) Section 3.5 of the Agreement is hereby amended and restated in its entirety as follows:

Appears in 1 contract

Samples: Loan and Security Agreement (Concurrent Computer Corp/De)

Term; Automatic Renewal. This Agreement shall become effective upon the execution and delivery hereof by Borrower and Foothill and shall continue in full force and effect for a term ending December 28on October 6, 2007 2000 (the "Renewal Date") and automatically shall be automatically renewed for successive one (1) year periods thereafter, unless sooner terminated pursuant to the terms hereof. Either party may terminate this Agreement effective on the Renewal Date or on any one (1) year anniversary of the Renewal Date by giving the other party at least one hundred twenty ninety (12090) days prior written notice by registered or certified mail, return receipt requested. The foregoing notwithstanding, Foothill shall have the right to terminate its obligations under this Agreement immediately and without notice upon the occurrence and during the continuation of an Event of Default. (j) 8) Section 3.5 of the Agreement is hereby amended and restated in its entirety as follows3.5:

Appears in 1 contract

Samples: Loan and Security Agreement (Phoenix Network Inc)

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Term; Automatic Renewal. This Agreement shall become effective upon the execution and delivery hereof by Borrower and Foothill and shall continue in full force and effect for a term ending December 2829, 2007 2004 (the "Renewal Date") and automatically shall be renewed for successive one (1) year periods thereafter, unless sooner terminated pursuant to the terms hereof. Either party may terminate this Agreement effective on the Renewal Date or on any one (1) year anniversary of the Renewal Date by giving the other party at least one hundred twenty (120) days prior written notice by registered or certified mail, return receipt requested. The foregoing notwithstanding, Foothill shall have the right to terminate its obligations under this Agreement immediately and without notice upon the occurrence and during the continuation of an Event of Default." (jg) Section 3.5 of the Agreement is hereby amended and ----------- restated in its entirety as follows:

Appears in 1 contract

Samples: Loan and Security Agreement (Image Entertainment Inc)

Term; Automatic Renewal. This Agreement shall become effective upon on the execution and delivery hereof by Borrower and Foothill and shall continue in full force and effect for a term ending December 28, 2007 on the date (the "Renewal Date") that is 3 years from the Closing Date and automatically shall be renewed for successive one (1) 1 year periods thereafter, unless sooner terminated pursuant to the terms hereof. Either party may terminate this Agreement effective on the Renewal Date or on any one (1) 1 year anniversary of the Renewal Date by giving the other party at least one hundred twenty (120) 60 days prior written notice by registered or certified mail, return receipt requested. The foregoing notwithstanding, Foothill shall have the right to terminate its obligations under this Agreement immediately and without notice upon the occurrence and during the continuation of an Event of Default.” (j) Section 3.5 of the Agreement is hereby amended and restated in its entirety as follows:

Appears in 1 contract

Samples: Loan and Security Agreement (Image Entertainment Inc)

Term; Automatic Renewal. This Agreement shall become effective upon the execution and delivery hereof by Borrower and Foothill and shall continue in full force and effect for a term ending December 2829, 2007 2009 (the “Renewal Date”) and automatically shall be renewed for successive one (1) year periods thereafter, unless sooner terminated pursuant to the terms hereof. Either party may terminate this Agreement effective on the Renewal Date or on any one (1) year anniversary of the Renewal Date by giving the other party at least one hundred twenty (120) days prior written notice by registered or certified mail, return receipt requested. The foregoing notwithstanding, Foothill shall have the right to terminate its obligations under this Agreement immediately and without notice upon the occurrence and during the continuation of an Event of Default.” (j) Section 3.5 of the Agreement is hereby amended and restated in its entirety as follows:

Appears in 1 contract

Samples: Loan and Security Agreement (Image Entertainment Inc)

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