Common use of Termination of Facility Clause in Contracts

Termination of Facility. The Borrowers may terminate this Agreement upon at least ten (10) Business Days’ notice (or such shorter period as agreed to by the Agent in its sole discretion) to the Agent, upon Full Payment of all Obligations (other than Bank Products that the applicable Lender chooses not to terminate and indemnity obligations that survive the termination of this Agreement and are not due and payable at such termination). On the effective date of termination of this Agreement, any Lender may terminate its and its Affiliates’ Bank Products.

Appears in 4 contracts

Samples: Credit Agreement (Westlake Chemical Corp), Credit Agreement (Westlake Chemical Corp), Credit Agreement (Westlake Chemical Corp)

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Termination of Facility. The Borrowers may terminate this Agreement upon at least ten (10) Business Days' notice (or such shorter period as agreed to by the Agent in its sole discretion) to and the AgentLenders, upon Full Payment (a) the payment in full of the outstanding Term Loans, together with accrued interest thereon, and (b) the payment in full in cash of all Obligations (reimbursable expenses and other than Bank Products that the applicable Lender chooses not to terminate and indemnity obligations that survive the termination of this Agreement and are not due and payable at such termination). On the effective date of termination of this Agreement, any Lender may terminate its and its Affiliates’ Bank ProductsObligations.

Appears in 4 contracts

Samples: Credit Agreement (Salton Inc), Credit Agreement (Salton Inc), Credit Agreement (Salton Inc)

Termination of Facility. The Borrowers Borrower may terminate this Agreement upon at least ten (10) Business Days’ notice (or such shorter period as agreed to by the Agent in its sole discretion) to and the AgentLenders, upon Full Payment (a) the payment in full of all Obligations outstanding Revolving Loans, together with accrued interest thereon, and the cancellation and return of all outstanding Letters of Credit, (b) the payment in full in cash of all reimbursable expenses and other than Bank Products that Obligations, and (c) with respect to any LIBOR Rate Loans prepaid, payment of the applicable Lender chooses not to terminate and indemnity obligations that survive the termination of this Agreement and are not amounts due and payable at such termination). On the effective date of termination of this Agreementunder Section 4.4, any Lender may terminate its and its Affiliates’ Bank Productsif any.

Appears in 2 contracts

Samples: Credit Agreement (Advanced Micro Devices Inc), Credit Agreement (Spansion Inc.)

Termination of Facility. The Borrowers Borrower may terminate this Agreement upon at least ten (10) Business Days' notice (or such shorter period as agreed to by the Agent and the Lenders, upon (i) the payment in its sole discretionfull of all outstanding Loans, together with accrued interest thereon, (ii) the payment in full in cash of all other Obligations together with accrued interest thereon, and (iii) with respect to any LIBOR Rate Loans prepaid in connection with such termination prior to the Agent, upon Full Payment of all Obligations (other than Bank Products that the applicable Lender chooses not to terminate and indemnity obligations that survive the termination of this Agreement and are not due and payable at such termination). On the effective expiration date of termination the Interest Period applicable thereto, the payment of this Agreement, any Lender may terminate its and its Affiliates’ Bank Productsthe amounts described in Section 5.4.

Appears in 2 contracts

Samples: Loan and Security Agreement (LDM Technologies Inc), Term Loan and Security Agreement (LDM Technologies Inc)

Termination of Facility. The Borrowers may terminate this Agreement upon at least ten (10) Business Days’ notice (or such shorter period as agreed to by the Agent in its sole discretion) to and the AgentLenders, upon Full Payment (a) the payment in full of all Obligations outstanding Revolving Loans, together with accrued interest thereon, and the cancellation and return of all outstanding Letters of Credit, (b) the payment in full in cash of all reimbursable expenses and other than Bank Products that Obligations, and (c) with respect to any Eurodollar Revolving Loan prepaid, payment of the applicable Lender chooses not to terminate and indemnity obligations that survive the termination of this Agreement and are not amounts due and payable at such termination). On the effective date of termination of this Agreementunder Section 4.4, any Lender may terminate its and its Affiliates’ Bank Productsif any.

Appears in 1 contract

Samples: Credit Agreement (Omnova Solutions Inc)

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Termination of Facility. (a) The Borrowers may terminate this Agreement upon at least ten (10) Business Days’ notice (or such shorter period as agreed to by the Agent in its sole discretion) to and the AgentLenders, upon Full Payment (i) the payment in full of all outstanding Revolving Loans, together with accrued interest thereon, and the cancellation of all outstanding Letters of Credit, (ii) the payment of the early termination fee, if any, required pursuant to Section 4.2(b), and (iii) the payment in full in cash of all other Obligations (other than Bank Products that the applicable Lender chooses not to terminate and indemnity obligations that survive the termination of this Agreement and are not due and payable at such termination). On the effective date of termination of this Agreement, any Lender may terminate its and its Affiliates’ Bank Productstogether with accrued interest thereon.

Appears in 1 contract

Samples: Loan and Security Agreement (Manhattan Bagel Co Inc)

Termination of Facility. The Borrowers Borrower may terminate this Agreement upon at least ten (10) Business Days’ notice (or such shorter period as agreed to by the Agent in its sole discretion) to and the AgentLenders, upon Full Payment (a) the payment in full of all Obligations outstanding Revolving Loans, together with accrued interest thereon, and the cancellation and return of all outstanding Letters of Credit, (b) the payment in full in cash of all reimbursable expenses and other than Bank Products that Obligations, and (c) with respect to any Eurodollar Revolving Loan prepaid, payment of the applicable Lender chooses not to terminate and indemnity obligations that survive the termination of this Agreement and are not amounts due and payable at such termination). On the effective date of termination of this Agreementunder Section 4.4, any Lender may terminate its and its Affiliates’ Bank Productsif any.

Appears in 1 contract

Samples: Credit Agreement (Omnova Solutions Inc)

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