Common use of Termination Prior to Revolving Line Maturity Date Clause in Contracts

Termination Prior to Revolving Line Maturity Date. This Agreement may be terminated prior to the Revolving Line Maturity Date by Borrower, effective three (3) Business Days after written notice of termination is given to Bank. Notwithstanding any such termination, Bank’s lien and security interest in the Collateral shall continue until Borrower fully satisfies its Obligations.

Appears in 7 contracts

Samples: Loan and Security Agreement (Encision Inc), Loan and Security Agreement (Overland Storage Inc), Loan and Security Agreement (Otix Global, Inc.)

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Termination Prior to Revolving Line Maturity Date. This Agreement may be terminated prior to the Revolving Line Maturity Date by Borrower, effective three (3) Business Days after written notice of termination is given to Bank. Notwithstanding any such termination, Bank’s lien and security interest in the Collateral and all of Bank’s rights and remedies under this Agreement shall continue until Borrower fully satisfies its Obligations.

Appears in 3 contracts

Samples: Loan and Security Agreement (Energy & Power Solutions, Inc.), Loan and Security Agreement (Energy & Power Solutions, Inc.), Loan and Security Agreement (Comarco Inc)

Termination Prior to Revolving Line Maturity Date. This Agreement may be terminated prior to the Revolving Line Maturity Date by BorrowerBorrowers, effective three (3) Business Days after written notice of termination is given to Bank. Notwithstanding any such termination, Bank’s lien and security interest in the Collateral shall continue until Borrower Borrowers fully satisfies its satisfy their Obligations.

Appears in 2 contracts

Samples: Loan and Security Agreement (Intellicheck Mobilisa, Inc.), Loan and Security Agreement (Derycz Scientific Inc)

Termination Prior to Revolving Line Maturity Date. This Agreement may be terminated prior to the Revolving Line Maturity Date by Borrower, effective three (3) Business Days after written notice of termination is given to Bank. Notwithstanding any such termination, Bank’s lien and security interest in the Collateral shall continue until Borrower fully satisfies its ObligationsObligations (other than inchoate indemnity obligations and any of Borrower’s obligations arising from the Warrant).

Appears in 2 contracts

Samples: Loan and Security Agreement (eASIC Corp), Loan and Security Agreement (eASIC Corp)

Termination Prior to Revolving Line Maturity Date. This Agreement may be terminated prior to the Revolving Line Maturity Date by Borrower, effective three (3) Business Days after written notice of termination is given to Bank. Notwithstanding Bank or by Bank at any such terminationtime after the occurrence an during the continuance of an Event of Default, Bank’s lien and security interest in the Collateral shall continue until Borrower fully satisfies its Obligationsupon notice, effective immediately.

Appears in 2 contracts

Samples: Loan and Security Agreement (Yodlee Inc), Loan and Security Agreement (Yodlee Inc)

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Termination Prior to Revolving Line Maturity Date. This Agreement may be terminated prior to the Revolving Line Maturity Date by Borrower, effective three (3) Business Days after written notice of termination is given to Bank. Notwithstanding any such termination, Bank’s lien and security interest in the Collateral shall continue until Borrower fully satisfies its Obligations. (other than inchoate indemnity obligations and cash collateralized Letters of Credit). If such termination is at Borrower’s election, Borrower shall pay to Bank the Early Termination Fee in accordance with Section 2.1.1(c) hereof.

Appears in 1 contract

Samples: Loan and Security Agreement (Dot Hill Systems Corp)

Termination Prior to Revolving Line Maturity Date. This Agreement may be terminated prior to the Revolving Line Maturity Date by BorrowerBorrowers, effective three (3) Business Days after written notice of termination is given to Bank. Notwithstanding any such termination, Bank’s lien Lien and security interest in the Collateral shall continue until Borrower fully satisfies its ObligationsObligations (other than inchoate indemnity obligations).

Appears in 1 contract

Samples: Loan and Security Agreement (Overland Storage Inc)

Termination Prior to Revolving Line Maturity Date. This Agreement may be terminated prior to the Revolving Line Maturity Date by Borrower, effective three (3) Business Days after written notice of termination is given to BankBank and indefeasible repayment in full of all Obligations. Notwithstanding any such termination, Bank’s lien and security interest in the Collateral shall continue until Borrower fully satisfies its Obligations. Borrower may, by written notice to Bank executed by a Person authorized under Borrower’s Borrowing Resolutions, terminate Bank’s obligations to make any further Advances hereunder.

Appears in 1 contract

Samples: Loan and Security Agreement (Ulthera Inc)

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