Termination by Borrowers. Upon at least 30 days' prior written notice to Agent and Lenders, Borrowers may, at their option, terminate this Agreement; provided, however, no such termination shall be effective until Borrowers have 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 (in an amount equal to 105% of the Dollar Equivalent of the LC Amount) to Agent's reasonable satisfaction and Borrowers have complied with subsection 3.
Appears in 3 contracts
Samples: Loan and Security Agreement (Wabash National Corp /De), Loan and Security Agreement (Wabash National Corp /De), Loan and Security Agreement (Wabash National Corp /De)
Termination by Borrowers. Upon at least 30 days' 10 days prior written notice to Agent and Lenders, Borrowers may, at their option, terminate this Agreement; provided, however, no such termination shall be effective until Borrowers have 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 (in an amount equal to 105% of the Dollar Equivalent of the LC Amount) to Agent's reasonable satisfaction and Borrowers have complied with Section 2.6 and subsection 3.
Appears in 2 contracts
Samples: Loan and Security Agreement (Kinetek Inc), Loan and Security Agreement (Kinetek Inc)
Termination by Borrowers. Upon at least 30 days' days prior written notice to Agent and Lenders, Borrowers Borrower Representative, on behalf of Borrowers, may, at their option, terminate this Agreement; provided, however, no such termination shall be effective until Borrowers have 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 (in an amount equal to 105% of the Dollar Equivalent of the LC Amount) to Agent's reasonable satisfaction and Borrowers have complied with subsection 3Section 2.
Appears in 2 contracts
Samples: Loan and Security Agreement (D & K Healthcare Resources Inc), Loan and Security Agreement (D & K Healthcare Resources Inc)
Termination by Borrowers. Upon at least 30 thirty ------------------------ (30) days' prior written notice to Agent and Lenders, Borrowers may, at their option, terminate this Agreement; provided, however, no such termination -------- shall be effective until Borrowers have 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 (in an amount equal to 105% of the Dollar Equivalent of the LC Amount) to Agent's reasonable satisfaction and Borrowers have complied with Section 2.6 and subsection 3.
Appears in 1 contract
Samples: Loan and Security Agreement (Falcon Products Inc /De/)
Termination by Borrowers. Upon at least 30 days' thirty (30) ------------------------ days prior written notice to Agent and Lenders, Borrowers may, at their option, terminate this Agreement; provided, however, no such -------- ------- termination shall be effective until Borrowers have paid or collateralized to both Agent's and Tranche B 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 (in an amount equal to 105% of the Dollar Equivalent of the LC Amount) to Agent's reasonable satisfaction and Borrowers have complied with Section 2.6 and subsection 3.
Appears in 1 contract
Samples: Loan and Security Agreement (Falcon Products Inc /De/)
Termination by Borrowers. Upon at least 30 days' 90 days prior written notice to Agent and Lenders, Borrowers may, at their option, terminate this Agreement; provided, however, no such termination shall be effective until Borrowers have 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 (in an amount equal to 105% of the Dollar Equivalent of the LC Amount) to Agent's reasonable satisfaction and Borrowers have complied with Section 2.6 and subsection 3.
Appears in 1 contract
Termination by Borrowers. Upon at least 30 days' prior written notice to Agent and Lenders, Borrowers may, at their option, terminate this Agreement; provided, however, no such termination shall be effective until Borrowers have 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 (in an amount equal to 105% of the Dollar Equivalent of the LC Amount) to Agent's reasonable satisfaction and Borrowers have complied with subsection Sections 2.6 and 3.
Appears in 1 contract
Samples: Loan and Security Agreement (Restoration Hardware Inc)
Termination by Borrowers. Upon at least 30 days' thirty (30) days prior ------------------------ written notice to Agent and Lenders, Borrowers may, at their option, terminate this Agreement; provided, however, no such termination shall -------- ------- be effective until Borrowers have paid or collateralized to both Agent's and Tranche B 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 (in an amount equal to 105% of the Dollar Equivalent of the LC Amount) to Agent's reasonable satisfaction and Borrowers have complied with Section 2.6 and subsection 3.
Appears in 1 contract
Samples: Loan and Security Agreement (Falcon Products Inc /De/)
Termination by Borrowers. Upon at least 30 days' 10 days prior written notice to Agent and Lenders, Borrowers may, at their option, terminate this Agreement; provided, however, no such termination shall be effective until Borrowers have paid or collateralized to Agent's reasonable satisfaction all of the Obligations (other than unasserted contingent indemnity obligations) in immediately available funds, all Letters of Credit and LC Guaranties have expired, terminated or have been cash collateralized (in an amount equal to 105% of the Dollar Equivalent of the LC Amount) to Agent's reasonable satisfaction and Borrowers have complied with subsection 3.
Appears in 1 contract
Termination by Borrowers. Upon at least 30 days' ’ prior written notice to Agent and Lenders, Borrowers may, at their option, terminate this Agreement; provided, however, no such termination shall be effective until Borrowers have paid or collateralized to Agent's ’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 (in an amount equal to 105% of the Dollar Equivalent of the LC Amount) to Agent's ’s reasonable satisfaction and Borrowers have complied with subsection 33.2.
Appears in 1 contract
Samples: Loan and Security Agreement (Wabash National Corp /De)