Common use of Termination of Facility Clause in Contracts

Termination of Facility. The Borrower may terminate this Agreement upon at least thirty (30) Business Days' notice to the Agent and the Lenders, upon (a) the payment in full of all outstanding Revolving Loans, together with accrued interest thereon, and the cancellation of all outstanding Letters of Credit, (b) the payment in full in cash of all other Obligations together with accrued interest thereon, and (c) with respect to any LIBOR Revolving Loans prepaid in connection with such termination prior to the expiration date of the Interest Period applicable thereto, the payment of the amounts described in Section 5.5."

Appears in 1 contract

Samples: Loan and Security Agreement (Consolidated Freightways Corp)

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Termination of Facility. The Borrower Borrowers may terminate this Agreement upon at least thirty (30) Business Days' notice from Phar-Mor to the Agent and the Lenders, upon (a) the payment in full of all outstanding Revolving Loans, together with accrued interest thereon, and the cancellation or cash collateralization of all outstanding Letters of CreditCredit in accordance with Section 2.3(i), (b) the payment in full in cash of all other Obligations together with accrued interest thereon, and (c) with respect to any LIBOR Revolving Loans prepaid in connection with such termination prior to the expiration date of the Interest Period applicable thereto, the payment of the amounts described in Section 5.55.4."

Appears in 1 contract

Samples: Loan and Security Agreement (Phar Mor Inc)

Termination of Facility. The Borrower may terminate this Agreement upon at least thirty ten (3010) Business Days' notice to the Agent and the Lenders, upon (a) the payment in full of all outstanding Revolving Loans, together with accrued interest thereon, and the cancellation of all outstanding Letters of Credit, (b) the payment in full in cash of (or as otherwise provided in Section 2.3(j))of all other Obligations then due together with accrued interest thereon, and (c) with respect to any LIBOR Revolving Loans prepaid in connection with such termination prior to the expiration date of the Interest Period applicable thereto, the payment of the amounts described in Section 5.55.4."

Appears in 1 contract

Samples: Loan and Security Agreement (Merisel Inc /De/)

Termination of Facility. The Borrower may terminate this Agreement upon at least thirty (30) Business Days' notice to the Agent and the Lenders, upon (a) the payment in full of all outstanding Revolving Loans, together with accrued interest thereon, and the cancellation of all outstanding Letters of Credit, Credit (b) the payment in full in cash of all other Obligations together with accrued interest thereon, and (c) with respect to any LIBOR Revolving Loans prepaid in connection with such termination prior to the expiration date of the Interest Period applicable thereto, the payment of the amounts described in Section 5.5SECTION 5.4."

Appears in 1 contract

Samples: Loan and Security Agreement (Strategic Distribution Inc)

Termination of Facility. The Borrower Borrowers may terminate this Agreement upon at least thirty (30) Business Days' notice to the Agent and the Lenders, upon (a) the payment in full of all outstanding Revolving Loans, together with accrued interest thereon, and the cancellation of all outstanding Letters of Credit, Credit (b) the payment in full in cash of all other Obligations together with accrued interest thereon, and (c) with respect to any LIBOR Revolving Loans prepaid in connection with such termination prior to the expiration date of the Interest Period applicable thereto, the payment of the amounts described in Section 5.55.4."

Appears in 1 contract

Samples: Loan and Security Agreement (Strategic Distribution Inc)

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Termination of Facility. The Borrower may terminate this Agreement upon at least thirty (30) Business Days' notice to the Agent and the Lenders, upon (a) the payment in full of all outstanding Revolving Loans, together with accrued interest thereon, and (b) the cancellation prepayment in full of all outstanding Letters of Creditthe Loans, together with accrued interest thereon, (bc) the payment of the early termination fee set forth in the next sentence, (d) the payment in full in cash of all other Obligations together with accrued interest thereon, and (ce) with respect to any LIBOR Revolving Rate Loans prepaid in connection with such termination prior to the expiration date of the Interest Period applicable thereto, the payment of the amounts described in Section 5.5."of

Appears in 1 contract

Samples: Loan and Security Agreement (Fruit of the Loom LTD)

Termination of Facility. The Borrower Borrowers may jointly (but not individually) terminate this Agreement upon at least thirty (30) Business Days' notice to the Agent and the Lenders, upon (a) the payment in full of all outstanding Revolving Loans, together with accrued interest thereon, and the cancellation of all outstanding Letters of CreditCredit (or delivery to the Agent of cash collateral therefor under terms acceptable to the Agent), (b) the payment in full in cash of all other Obligations together with accrued interest thereon, and (c) with respect to any LIBOR Revolving Rate Loans prepaid in connection with such termination prior to the expiration date of the Interest Period applicable thereto, the payment of the amounts described in Section 5.55.4."

Appears in 1 contract

Samples: Loan and Security Agreement (Acme Metals Inc /De/)

Termination of Facility. The Borrower may terminate this Agreement upon at least thirty ten (3010) Business Days' notice to the Agent and the Lenders, upon (ai) the payment in full of all outstanding Revolving Loans, together with accrued interest thereon, and the cancellation of all outstanding Letters of Credit, (bii) the payment of the early termination fee set forth in the next sentence, (iii) the payment in full in cash of all other Obligations together with accrued interest thereon, and (civ) with respect to any LIBOR Revolving Rate Loans prepaid in connection with such termination prior to the expiration date of the Interest Period applicable thereto, the payment of the amounts described in Section 5.55.4."

Appears in 1 contract

Samples: Loan and Security Agreement (LDM Technologies Inc)

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