Common use of Termination by Borrower Clause in Contracts

Termination by Borrower. Upon at least 90 days prior written notice to Agent and Lenders, Borrower may, at its option, terminate this Agreement; provided, however, no such termination shall be effective until Borrower has paid or collateralized to Agent's satisfaction all of the Obligations in immediately available funds, all Letters of Credit and LC Guaranties have expired, terminated or have been cash collateralized to Agent's satisfaction and Borrower has complied with Section 2.6 and subsection 3.

Appears in 3 contracts

Samples: Loan and Security Agreement (Weirton Steel Corp), Loan and Security Agreement (Weirton Steel Corp), Loan and Security Agreement (Weirton Steel Corp)

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Termination by Borrower. Upon at least 90 30 days prior written notice to Agent and Lenders, Borrower may, at its option, terminate this Agreement; provided, however, no such termination shall be effective until Borrower has paid or collateralized to Agent's reasonable satisfaction all of the Obligations in immediately available funds, all Letters of Credit and LC Guaranties have expired, terminated or have been cash collateralized to Agent's satisfaction and Borrower has complied with Section 2.6 and subsection Subsection 3.

Appears in 2 contracts

Samples: Loan and Security Agreement (Mobile Mini Inc), Loan and Security Agreement (Mobile Mini Inc)

Termination by Borrower. Upon at least 90 days five (5) Business Days prior written notice to Agent and Lenders, Borrower may, at its option, terminate this Agreement; provided, however, no such termination shall be effective until Borrower has paid or collateralized to Agent's reasonable satisfaction all of the Obligations in immediately available funds, all Letters of Credit and LC Guaranties have expired, terminated or have been cash collateralized to Agent's satisfaction and Borrower has complied with Section 2.6 and subsection Subsection 3.

Appears in 1 contract

Samples: Loan and Security Agreement (Mobile Mini Inc)

Termination by Borrower. Upon at least 90 30 days prior written ----------------------- notice to Agent and Lenders, Borrower may, at its option, terminate this Agreement; provided, however, no such termination shall be effective until -------- ------- Borrower has paid or collateralized to Agent's satisfaction all of the Obligations in immediately available funds, all Letters of Credit and LC Guaranties have expired, terminated or have been cash collateralized to Agent's satisfaction and Borrower has complied with Section 2.6 Sections 2.3(ii) and subsection 32.

Appears in 1 contract

Samples: Loan and Security Agreement (Woods Equipment Co)

Termination by Borrower. Upon at least 90 forty-five (45) days prior written notice to Agent and Lenders, Borrower may, at its option, terminate this Agreement; provided, however, that no such termination shall be effective until Borrower has paid or collateralized to Agent's reasonable satisfaction all of the Obligations in immediately available funds, all Letters of Credit and LC Guaranties have expired, terminated or have been cash collateralized to Agent's reasonable satisfaction and Borrower has complied with Section 2.6 Sections 2.5 and 2.7 and subsection 3.

Appears in 1 contract

Samples: Loan and Security Agreement (Bayou Steel Corp)

Termination by Borrower. Upon at least 90 days prior written notice to Agent and Lenders, Borrower may, at its option, terminate this Agreement; providedPROVIDED, howeverHOWEVER, no such termination shall be effective until Borrower has paid or collateralized to Agent's satisfaction all of the Obligations in immediately available funds, all Letters of Credit and LC Guaranties have expired, terminated or have been cash collateralized to Agent's satisfaction and Borrower has complied with Section 2.6 and subsection 3.

Appears in 1 contract

Samples: Loan and Security Agreement (Weirton Steel Corp)

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Termination by Borrower. Upon at least 90 10 days prior written ----------------------- notice to Agent and Lenders, Borrower may, at its option, terminate this Agreement; provided, however, no such termination shall be effective until --------- ------- Borrower has paid or collateralized to Agent's reasonable satisfaction all of the Obligations in immediately available funds, all Letters of Credit and LC Guaranties have expired, terminated or have been cash collateralized to Agent's reasonable satisfaction and Borrower has complied with Section 2.6 and subsection 32.

Appears in 1 contract

Samples: Loan and Security Agreement (Borden Chemicals & Plastics Limited Partnership /De/)

Termination by Borrower. Upon at least 90 days prior written notice to Agent and LendersLender, Borrower may, at its option, terminate this Agreement; provided, however, no such termination shall be effective until Borrower has paid or collateralized to Agent's satisfaction all of the Obligations in immediately available funds, and all Letters of Credit and LC Guaranties have expired, terminated expired or have been cash collateralized to AgentLender's satisfaction and Borrower has complied with Section 2.6 and subsection 3.satisfaction. Any notice of

Appears in 1 contract

Samples: Loan and Security Agreement (First Aviation Services Inc)

Termination by Borrower. Upon at least 90 days prior written notice to Agent and Lenders, Borrower may, at its option, terminate this Agreement; provided, however, no such termination shall be effective until Borrower has paid or collateralized to Agent's ’s satisfaction all of the Obligations in immediately available funds, all Letters of Credit and LC Guaranties have expired, terminated or have been cash collateralized to Agent's ’s satisfaction and Borrower has complied with Section 2.6 and subsection 3.

Appears in 1 contract

Samples: Loan and Security Agreement (Pw Eagle Inc)

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