Termination; Payments Due upon Termination. Upon the termination of this Agreement whether pursuant to the provisions of Section 6 or due to the occurrence of an Event of Default pursuant to the provisions of Section 11, Borrower shall pay the Obligations to Lender. Upon payment in full in cash of the Obligations (other than contingent obligations), with no further Advances to be made under the Agreement, Lender shall at Borrower’s sole cost and expense, release its lien in the Collateral and all rights therein shall revert to Borrower.
Appears in 2 contracts
Samples: Loan and Security Agreement (DecisionPoint Systems, Inc.), Loan and Security Agreement (Great American Group, Inc.)
Termination; Payments Due upon Termination. Upon the termination of this Agreement whether pursuant to the provisions of Section 6 or due to the occurrence of an Event of Default pursuant to the provisions of Section 11, Borrower shall pay the Obligations to Lender. Upon payment in full in cash of the Obligations (other than contingent obligations), with no further Advances to be made under the Agreement, Lender shall at Borrower’s sole cost and expense, release its lien in the Collateral and all rights therein shall revert to Borrower.
Appears in 2 contracts
Samples: Loan and Security Agreement (Orange 21 Inc.), Loan and Security Agreement (Mendocino Brewing Co Inc)
Termination; Payments Due upon Termination. Upon the termination of this Agreement whether pursuant to the provisions of Section 6 6.1, or due to the occurrence of an Event of Default pursuant to the provisions of Section 11, Borrower shall pay the Obligations to Lender. Upon payment in full in cash of the Obligations (other than contingent obligations), with no further Advances to be made under the Agreement, Lender shall at Borrower’s sole cost and expense, release its lien in the Collateral and all rights therein shall revert to Borrower.
Appears in 1 contract
Termination; Payments Due upon Termination. Upon the termination of this Agreement whether pursuant to the provisions of Section 6 6.1, or due to the occurrence of an Event of Default pursuant to the provisions of Section 11, Borrower shall pay the Obligations to LenderLenders. Upon payment in full in cash of the Obligations (other than contingent obligations), with no further Advances to be made under the Agreement, Lender Lenders shall at Borrower’s sole cost and expense, release its lien in the Collateral and all rights therein shall revert to Borrower.
Appears in 1 contract
Termination; Payments Due upon Termination. Upon the termination of this Agreement whether pursuant to the provisions of Section 6 or due to the occurrence of an Event of Default pursuant to the provisions of Section 1111 , Borrower shall pay the Obligations to Lender. Upon payment in full in cash of the Obligations (other than contingent obligations), with no further Advances to be made under the Agreement, Lender shall at Borrower’s sole cost and expense, release its lien in the Collateral and all rights therein shall revert to Borrower.
Appears in 1 contract
Samples: Loan and Security Agreement (Vertical Branding, Inc.)
Termination; Payments Due upon Termination. Upon the termination of this Agreement whether pursuant to the provisions of Section 6 or due to the occurrence of an Event of Default pursuant to the provisions of Section 11, Borrower shall pay the Obligations to Lender. Upon payment in full in cash of the Obligations (other than contingent obligations), with no further Advances to be made under the Agreement, Lender shall at Borrower’s sole cost and expense, release its lien in the Collateral and all rights therein shall revert to Borrower.
Appears in 1 contract
