Common use of Termination by Borrowers Clause in Contracts

Termination by Borrowers. Upon at least ten (10) Business Day’ prior written notice and pursuant to payoff documentation in form and substance reasonably satisfactory to Agent and Lenders, Borrowers may, at its option, terminate this Agreement; provided, however, that no such termination shall be effective until Borrowers have complied with Section 2.12(c) and the Obligations, including the payment of all fees due and owing under any Fee Letter, are paid in full (other than inchoate indemnification obligations for which no claim has yet been made). Any notice of termination given by Borrowers shall be irrevocable unless all Lenders otherwise agree in writing and no Lender shall have any obligation to make any Loans on or after the termination date stated in such notice. Borrowers may elect to terminate this Agreement in its entirety only. No section of this Agreement or type of Loan available hereunder may be terminated singly.

Appears in 2 contracts

Samples: Credit and Security Agreement (Treace Medical Concepts, Inc.), Credit and Security Agreement (Term Loan) (Treace Medical Concepts, Inc.)

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Termination by Borrowers. Upon at least ten (10) Business DayDays’ prior written notice and pursuant to payoff documentation in form and substance reasonably satisfactory to Agent and Lenders, Borrowers may, at its option, terminate this Agreement; provided, however, that no such termination shall be effective until Borrowers have complied with Section 2.12(c) 2.2 and the Obligations, including the payment terms of all fees due and owing under any Fee LetterLetter and, are if the Additional Tranche shall have been activated hereunder, paid in full (other than inchoate indemnification obligations for which no claim has yet been made)all of the Affiliated Obligations in immediately available funds and terminated the Affiliated Financing Documents. Any notice of termination given by Borrowers shall be irrevocable unless all Lenders otherwise agree in writing and no Lender shall have any obligation to make any Loans on or after the termination date stated in such MidCap / HTG / Credit and Security Agreement (Revolving Loan) \\DC - 036639/000001 - 12092487 notice. Borrowers may elect to terminate this Agreement in its entirety only. No section of this Agreement or type of Loan available hereunder may be terminated singly.

Appears in 1 contract

Samples: Credit and Security Agreement (Revolving Loan) (HTG Molecular Diagnostics, Inc)

Termination by Borrowers. Upon at least ten (10) Business DayDays’ prior written notice and pursuant to payoff documentation in form and substance reasonably satisfactory to Agent and Lenders, Borrowers may, at its their option, terminate this Agreement; provided, however, that no such termination shall be effective until Borrowers have complied with Section 2.12(c) and the Obligations, including the payment of all fees due and owing under any Fee Letter, are paid in full (other than inchoate indemnification obligations for which no claim has yet been made). Any notice of termination given by Borrowers shall be irrevocable unless all Lenders otherwise agree in writing and no Lender shall have any obligation to make any Loans on or after the termination date stated in such notice. Borrowers may elect to terminate this Agreement in its entirety only. No section of this Agreement or type of Loan available hereunder may be terminated singly.

Appears in 1 contract

Samples: Credit and Security Agreement (TELA Bio, Inc.)

Termination by Borrowers. Upon at least ten five (105) Business DayDays’ prior written notice and pursuant to payoff documentation in form and substance reasonably satisfactory to Agent and Lenders, Borrowers may, at its their option, terminate this Agreement; provided, however, that no such termination shall be effective until Borrowers have complied with Section 2.12(c2.12(d) and the Obligations, including the payment of all fees due and owing under any Fee Letter, Obligations are paid in full (other than inchoate indemnification obligations for which no claim has yet been made)) and the Affiliated Obligations are paid in full and the Affiliated Financing Documents are terminated. Any notice of termination given by Borrowers shall be irrevocable unless all Lenders otherwise agree in writing and no Lender shall have any obligation to make any Loans on or after the termination date stated in such notice. Borrowers may elect to terminate this Agreement in its entirety only. No section of this Agreement or type of Loan available hereunder may be terminated singly.

Appears in 1 contract

Samples: Credit and Security Agreement (Alpha Teknova, Inc.)

Termination by Borrowers. Upon at least ten five (105) Business Day’ prior written notice and pursuant to payoff documentation in form and substance reasonably satisfactory to Agent and Lenders, Borrowers may, at its option, terminate this Agreement; provided, however, that no such termination shall be effective until Borrowers have complied with Section 2.12(c2.12(d) and the Obligations, including the payment of all fees due and owing under any Fee Letter, Obligations are paid in full (other than inchoate indemnification obligations for which no claim has yet been made)) and the Affiliated Obligations are paid in full and the Affiliated Financing Documents are terminated. Any notice of termination given by Borrowers shall be irrevocable unless all Lenders otherwise agree in writing and no Lender shall have any obligation to make any Loans on or after the termination date stated in such notice. Borrowers may elect to terminate this Agreement in its entirety only. No section of this Agreement or type of Loan available hereunder may be terminated singly.

Appears in 1 contract

Samples: Credit and Security Agreement (Revolving Loan) (Alpha Teknova, Inc.)

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Termination by Borrowers. Upon at least ten (10) Business DayDays’ prior written notice (or such shorter period as may be agreed by Agent) and pursuant to payoff documentation in form and substance reasonably satisfactory to Agent and Lenders, Borrowers Borrower may, at its option, terminate this Agreement; provided, however, that no such termination shall be effective until Borrowers have complied with Section 2.12(c) 2.2 and the Obligations, including the payment terms of all fees due and owing under any Fee Letter, are paid in full (other than inchoate indemnification obligations for which no claim has yet been made)fee letter. Any notice of termination given by Borrowers shall be irrevocable (but may be conditioned on a the closing of a refinancing or other applicable transaction) unless all Lenders otherwise agree in writing and no Lender shall have any obligation to make any Loans on or after the termination date stated in such noticenotice (unless the conditions set forth in such notice are not satisfied). Borrowers may elect to terminate this Agreement in its entirety only. No section of this Agreement or type of Loan available hereunder may be terminated singly.

Appears in 1 contract

Samples: Credit, Security and Guaranty Agreement (Term Loan) (Oxford Immunotec Global PLC)

Termination by Borrowers. Upon at least ten (10) Business Day’ prior written notice and pursuant to payoff documentation in form and substance reasonably satisfactory to Agent Agent, Term Loan Servicer and Lenders, Borrowers may, at its their option, terminate this Agreement; provided, however, that no such termination shall be effective until Borrowers have complied with Section 2.12(c) and the Obligations, including the payment of all fees due and owing under any Fee Letter, are paid in full (other than inchoate indemnification obligations for which no claim has yet been made). Any notice of termination given by Borrowers shall be irrevocable unless all Lenders otherwise agree in writing and no Lender shall have any obligation to make any Loans on or after the termination date stated in such notice. Borrowers may elect to terminate this Agreement in its entirety only. No section of this Agreement or type of Loan available hereunder may be terminated singly.

Appears in 1 contract

Samples: Credit, Security and Guaranty Agreement (ViewRay, Inc.)

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