TERMINATION AND PREPAYMENT. Section 8.1 Option to Terminate 18 Section 8.2 Option to Prepay Loan 18 Section 8.3 Obligation to Prepay Loan 18 Section 8.4 Notice of Prepayment 19 Section 8.5 Prepayment Price 19 Section 8.6 Relative Position of this Article and Indenture 19 Section 8.7 Concurrent Discharge of Note 19
TERMINATION AND PREPAYMENT. The Company shall have the option at all times to permanently terminate the unused portion of the Revolving Loan, in whole or in part, by providing to the Administrative Agent one Business Days' prior written notice of the effective date and amount of such termination. The Company shall have the option at all times to prepay the Term Loan and the Second Term Loan, in whole or in part, by providing to the Administrative Agent one Business Days' prior written notice of the effective date and amount of such prepayment, all such amounts to be applied first to principal payments under the Second Term Notes, until paid, and then to principal payments under the Term Notes.
TERMINATION AND PREPAYMENT. Section 11.01 Termination........................................ 83 Section 11.02 Optional Prepayment................................ 83 ARTICLE XII
TERMINATION AND PREPAYMENT. 13 2.14 FEES...........................................................13 2.15 FEE FOR SUB-FACILITY LETTERS OF CREDIT.........................14 2.16
TERMINATION AND PREPAYMENT. 4.1 Unless renewed or early termination of the Agreement, the Agreement shall be terminated upon expiration. Party B shall repay the Loan in full amount to Party A within fifteen (15) days of the termination of the Agreement.
4.2 During the term of the Loan and/or its extensions, Party A shall have the right to terminate the Agreement immediately under the following circumstances, and require Party B to repay the Loan in full amount in advance within fifteen (15) days of the termination of the Agreement:
(1) Party B fails to make capital contribution and lawfully holds the above equity interest of the Shan’en Technology;
(2) Party B withdraws from Shan’en Technology and ceases to be a shareholder of Shan’en Technology;
(3) Party B is dead or a person is found to have incompetent or limited capacity in civil conduct;
(4) Party B is suspected of criminal offences;
(5) Party A exercises the exclusion share option under the Exclusive Share Option and Share Trust Agreement in accordance with the above Exclusive Share Option and Share Trust Agreement entered into by Party A and Party B and Shan’en Technology.
4.3 During the term of the Loan and/or its extensions, in no reason shall Party B repay the Loan in advance unless with the written request from Party A. If there is violation of the Agreement regarding the prepayment by Party B, Party B shall pay Party A not less than RMB1 million liquidated damage in a lump sum on a pro-rata basis.
4.4 The rights and obligations of the Parties under Articles 8, 9 ,10 and 11 of the Agreement shall survive the termination of this contract.
TERMINATION AND PREPAYMENT. No Note may be prepaid, except in its entirety and all voluntary prepayments shall include all late charges and accrued interest and will be subject to a prepayment penalty calculated as of the date of voluntary prepayment and expressed as a percentage of the outstanding principal on the date of such prepayment equal to five percent (5%) during the first year of the term of the Note, four percent (4%) during the second year, three percent (3%) during the third year, two percent (2%) during the fourth year, one percent (1%) during the fifth year and zero percent (0%) thereafter. Involuntary prepayment and termination with respect to any item of Equipment shall occur if any item of Equipment shall become lost, stolen or destroyed, damaged beyond repair or rendered permanently unfit for use for any reason, or in the event of any condemnation, confiscation, theft or seizure or requisition of title or use of such item, in which event Debtor will promptly pay to Secured Party an amount equal to the outstanding principal balance of the Note with respect to such Equipment plus any accrued interest and late charges. The principal balance at any time outstanding on the Note shall be calculated based on a normal amortization calculation.
TERMINATION AND PREPAYMENT. 31 Section 8.1. Option to Terminate........................................................... 31 Section 8.2. Option to Prepay Loan......................................................... 31 Section 8.3. Obligation to Prepay Loan..................................................... 32 Section 8.4. Notice of Prepayment.......................................................... 32 Section 8.5. Prepayment Price.............................................................. 32
TERMINATION AND PREPAYMENT. 10 2.14 Fees...........................................................................................11 2.15 Calculation of LIBOR Margin and Commitment Fee.................................................11 2.16
TERMINATION AND PREPAYMENT. The Company shall have the option at all times to permanently terminate the unused portion of the Revolving Loan, in whole or in part, by providing to the Administrative Agent three Business Days' prior written notice of the effective date and amount of such termination; provided, however, that each partial termination of an unused portion of the Revolving Loan shall be in a minimum amount of $1,000,000.00 or in a multiple of $500,000.00 in excess thereof. The Company shall have the option at all times to prepay the Term Loan, in whole or in part, by providing to the Administrative Agent three Business Days' prior written notice of the effective date and amount of such prepayment; provided, however, that each partial prepayment of the Term Loan shall be in a minimum amount of $1,000,000.00 or in a multiple of $1,000,000.00, all such amounts to be applied to scheduled principal payments under the Term Note in inverse order of maturity. In addition, on the effective date of any such termination of all or any portion of the Revolving Loan or any such prepayment of all or any portion of the Term Loan, the Company shall pay to the Administrative Agent and the Banks all sums required under Sections 2.7, 2.10 and 2.11 of this Agreement.
TERMINATION AND PREPAYMENT. 5.1. You may terminate the Financing Agreement at any time for your convenience prior to the expiration of the Term provided the following conditions are met:
(a) You will provide us with written notice of termination pursuant to this section not less than ten (10) business days prior to the effective date of termination stipulated in such notice (the “Elective Termination Date”).
(b) On the Elective Termination Date, you will pay to us: Valentec Addendum No 2 v3A
(i) The entire aggregate principal amount of all Advance Payments then outstanding under the Factoring Agreement and all WIP Advances then outstanding under the Line of Credit together with accrued interest and fees through and including the Elective Termination Date.
(ii) A termination fee equal to:
(A) If you terminate the Financing Agreement pursuant to this section during the period commencing on the Effective Date and expiring on June 30, 2007, an amount equal to 1.5% of your Overall Borrowing Limit, as amended (i.e., currently, $150,000).
(B) If you terminate the Financing Agreement pursuant to this section on or after July 1, 2007, 0.75% of your Overall Borrowing Limit, as amended (i.e., currently $75,000).
(iii) The amount of any and all unreimbursed costs and expenses we have incurred in connection with and for which you are responsible under the Financing Agreement.
(c) No LC Guaranty shall be outstanding as of the Elective Termination Date.
5.2. Upon your due payment of the amounts contemplated by Subparagraph 5.1(b)(i) we will reassign to you any and all Assigned Accounts outstanding as of the Elective Termination Date.
5.3. The provisions of this section are in lieu of and hereby supersede the provisions of Paragraph 2.6 and Subparagraph 8.2.1 of the Factoring Agreement
