Termination of the Facility. If, notwithstanding the provisions of this Section 2.1.2, any Facility LC is outstanding upon the earlier of (x) the termination of this Agreement and (y) the Facility Termination Date, then upon such termination the Borrower shall deposit with the Agent, for the benefit of the Agent and the Lenders, with respect to all LC Obligations, as the Agent in its discretion shall specify, either (i) a standby letter of credit (a “Supporting Letter of Credit”), in form and substance satisfactory to the Agent (in its Permitted Discretion), issued by an issuer satisfactory to the Agent (in its Permitted Discretion), in a stated amount equal to 105% of the difference of (x) the amount of LC Obligations at such time, less (y) the amount on deposit in the Facility LC Collateral Account at such time which is free and clear of all rights and claims of third parties and has not been applied against the Obligations (such difference, the “Collateral Shortfall Amount”), under which Supporting Letter of Credit the Agent is entitled to draw amounts necessary to reimburse the Agent, the LC Issuer and the Lenders for payments to be made by the Agent, the LC Issuer and the Lenders under any such Facility LC and any fees and expenses associated with such Facility LC, or (ii) cash, in immediately available funds, in an amount equal to 105% of the Collateral Shortfall Amount to be held in the Facility LC Collateral Account. Such Supporting Letter of Credit or deposit of cash shall be held by the Agent, for the benefit of the Agent and the Lenders, as security for, and to provide for the payment of, the aggregate undrawn amount of such Facility LC remaining outstanding.
Termination of the Facility. (a) Without limiting Section 2.3 or Section 8.1, (a) the Aggregate Commitments shall expire on the Facility Termination Date and (b) the Aggregate Credit Exposure and all other unpaid Obligations shall be paid in full by the Borrower on the Facility Termination Date.
Termination of the Facility. The Facility will terminate on the Termination Date. -------------------------------------------------------------------------------- 3. CONDITIONS PRECEDENT
Termination of the Facility. The Facility will terminate on the Termination Date.
Termination of the Facility. The Redraw Facility will terminate, and the Redraw Facility Provider's obligation to make any Advances will cease, on the Redraw Facility Termination Date. -------------------------------------------------------------------------------- 3. CONDITIONS PRECEDENT
Termination of the Facility. 16.1 The Customer hereby acknowledges that the Facility granted hereunder is of short-term nature and the Bank has the right to annually review the Facility.
Termination of the Facility. The Facility shall automatically terminate on the Termination Date, unless terminated sooner in accordance with Article VII. The termination of the Facility shall not constitute a termination of this Agreement, and such termination or reduction shall not relieve Tensar Holdings of its obligation to pay all amounts due and payable hereunder as and when due in accordance with the terms hereof.
Termination of the Facility. 13.1 Without prejudice to West Bull Securities’ other rights or claims under this Margin Financing Trading Agreement, this Margin Financing Trading Agreement shall continue in effect until terminated by the Client giving not less than seven (7) days prior written notice to West Bull Securities.
Termination of the Facility. 14 2.17. METHOD OF PAYMENT...................................................................................... 14 2.18. APPORTIONMENT, APPLICATION, AND REVERSAL OF PAYMENTS................................................... 14 2.19. SETTLEMENT............................................................................................. 14 2.20. INDEMNITY FOR RETURNED PAYMENTS........................................................................ 14 2.21. NOTELESS AGREEMENT; EVIDENCE OF INDEBTEDNESS........................................................... 14 2.22. LENDING INSTALLATIONS.................................................................................. 14 2.23. NON-RECEIPT OF FUNDS BY THE AGENT...................................................................... 14 2.24. FIXED CHARGE COVERAGE RATIO CONDITION.................................................................. 14 2.25.
Termination of the Facility. On and from the date on which the Term expires or the date on which a termination notice given in accordance with Clause 2.2 (Availability period) becomes effective, the rights and obligations of each Party under this Agreement will terminate except:
