Common use of Termination; Limited Survival Clause in Contracts

Termination; Limited Survival. In its sole and absolute discretion the Borrower may at any time that no Obligations are owing elect in a notice delivered to the Administrative Agent and Lenders to terminate this Agreement. Upon receipt by the Administrative Agent and the Lenders of such a notice, if no Obligations are then owing and the Borrower terminates any right to request or obtain any further Borrowing, this Agreement and all other Loan Documents shall thereupon be terminated and the parties thereto released from all prospective obligations thereunder. Notwithstanding the foregoing or anything herein to the contrary, any waivers or admissions made by any Person in any Loan Documents, any Obligations, and any obligations which any Person may have to indemnify or compensate the Administrative Agent or any Lender shall survive any termination of this Agreement or any other Loan Document. At the request and expense of the Borrower, the Administrative Agent and Lenders shall prepare and execute all necessary instruments to reflect and effect such termination of the Loan Documents.

Appears in 2 contracts

Samples: Credit Agreement (M I Homes Inc), Credit Agreement (M I Homes Inc)

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Termination; Limited Survival. In its sole and absolute discretion the Borrower may at any time that no Obligations are owing elect in a notice delivered to the Administrative Agent and Lenders to terminate this Agreement. Upon receipt by the Administrative Agent and the Lenders of such a notice, if no Obligations are then owing and the Borrower terminates any right to request or obtain any further Borrowingowing, this Agreement Assignment and all other Loan Documents shall thereupon be terminated and the parties thereto released from all prospective obligations thereunder. Notwithstanding the foregoing or anything herein to the contrary, any waivers or admissions made by any Person in any Loan Documents, any Obligations, and any obligations which any Person may have to indemnify or compensate the Administrative Agent or any Lender shall survive any termination of this Agreement or any other Loan Document. At the request and expense of the Borrower, the Administrative Agent and Lenders shall prepare and execute all necessary instruments to reflect and effect such termination of the Loan Documents.

Appears in 2 contracts

Samples: Credit Agreement (M I Homes Inc), Credit Agreement (M I Homes Inc)

Termination; Limited Survival. In its sole and absolute discretion the Borrower may at any time that no Obligations are owing elect in a notice delivered to the Administrative Agent and Lenders to terminate this Agreement. Upon receipt by the Administrative Agent and the Lenders of such a notice, if no Obligations are then owing and the Borrower terminates any right to request or obtain any further Borrowingowing, this Agreement and all other Loan Documents shall thereupon be terminated and the parties thereto released from all prospective obligations thereunder. Notwithstanding the foregoing or anything herein to the contrary, any waivers or admissions made by any Person in any Loan Documents, any Obligations, and any obligations which any Person may have to indemnify or compensate the Administrative Agent or any Lender shall survive any termination of this Agreement or any other Loan Document. At the request and expense of the Borrower, the Administrative Agent and Lenders shall prepare and execute all necessary instruments to reflect and effect such termination of the Loan Documents.

Appears in 1 contract

Samples: Credit Agreement (Beazer Homes Usa Inc)

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Termination; Limited Survival. In its sole and absolute ----------------------------- discretion the Borrower may at any time that no Obligations are owing elect in a notice delivered to the Administrative Agent and Lenders Lender to terminate this Agreement. Upon receipt by the Administrative Agent and the Lenders Lender of such a notice, if no Obligations are then owing and the Borrower terminates any right to request or obtain any further Borrowingowing, this Agreement (including but not limited to the power of attorney granted under Section 3.03 hereof) and all other Loan Documents shall thereupon be terminated and the parties thereto released from all prospective obligations thereunder. Notwithstanding the foregoing or anything herein to the contrary, any waivers or admissions made by any Person in any Loan Documents, any Obligations, and any obligations which any Person may have to indemnify or compensate the Administrative Agent or any Lender shall survive any termination of this Agreement or any other Loan Document. At the request and expense of the Borrower, the Administrative Agent and Lenders Lender shall prepare and execute all necessary instruments to reflect and effect such termination of the Loan DocumentsDocuments .

Appears in 1 contract

Samples: Credit Agreement (Nab Asset Corp)

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