Termination Prior to Revolving Line Maturity Date. The Revolving Line may be terminated prior to the Revolving Line Maturity by Borrower, effective three (3) Business Days after written notice of termination is given to Bank. If such termination is at Borrowers’ election or at Bank’s election due to the occurrence and continuance of an Event of Default, in each case at any time prior to the date that is six months after the Seventh Amendment Effective Date, Borrowers shall pay to Bank, in addition to the payment of any other expenses or fees then-owing, a termination fee equal to $30,000 (i.e. 0.50% of $6,000,000) (the “Early Termination Fee”); provided that no Early Termination Fee shall be charged if the credit facility hereunder is replaced with a new facility from another division of Bank.” 2.2 Sections 2.1.2, 2.1.3 and 2.1.4 is each amended in its entirety and replaced with the following:
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Samples: Loan and Security Agreement (Channeladvisor Corp), Loan and Security Agreement (Channeladvisor Corp)
Termination Prior to Revolving Line Maturity Date. The Revolving Line may be terminated prior to the Revolving Line Maturity by Borrower, effective three (3) Business Days after written notice of termination is given to Bank. If such termination is at Borrowers’ election or at Bank’s election due to the occurrence and continuance of an Event of Default, in each case at any time prior to the date that is six (6) months after the Seventh Tenth Amendment Effective Date, Borrowers shall pay to Bank, in addition to the payment of any other expenses or fees then-owing, a termination fee equal to $30,000 (i.e. 0.50% of $6,000,000) 15,000 (the “Early Termination Fee”); provided that no Early Termination Fee shall be charged if the credit facility hereunder is replaced with a new facility from another division of Bank.”
2.2 Sections 2.1.2, 2.1.3 and 2.1.4 Section 2.3(a)(iii) of the Loan Agreement is each amended in its entirety and is replaced with the following:
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Termination Prior to Revolving Line Maturity Date. The Revolving Line may be terminated prior to the Revolving Line Maturity by Borrower, effective three (3) Business Days after written notice of termination is given to Bank. If such termination is at Borrowers’ election or at Bank’s election due to the occurrence and continuance of an Event of Default, in each case at any time prior to the date that is six months after the Seventh Amendment Effective Date, Borrowers shall pay to Bank, in addition to the payment of any other expenses or fees then-owing, a termination fee equal to Fifty Thousand Dollars ($30,000 50,000) (i.e. 0.50% of $6,000,00010,000,000) (the “Early Termination Fee”); provided that no Early Termination Fee shall be charged if the credit facility hereunder is replaced with a new facility from another division of Bank.”
2.2 Sections 2.1.2, 2.1.3 and 2.1.4 Section 2.3(a)(i) of the Loan Agreement is each amended in its entirety and is replaced with the following:
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Termination Prior to Revolving Line Maturity Date. The Revolving Line 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 and all of Bank’s rights and remedies under this Agreement shall continue until Borrowers fully satisfies their Obligations. If such termination is at Borrowers’ election or at Bankany Borrower’s election due to the occurrence and continuance of an Event of Default, in each case at any time prior to the date that is six months after the Seventh Amendment Effective Dateelection, Borrowers shall pay to Bank, in addition to the payment of any other expenses or fees then-owing, a termination fee in an amount equal to $30,000 the following: (i.e. 0.50% i) two percent (2.0%) of $6,000,000the Maximum Dollar Amount if any such termination occurs on or before October 26, 2012 and (ii) one percent (1.0%) of the “Early Termination Fee”); Maximum Dollar Amount if any such termination arises after October 26, 2012, provided that no Early Termination Fee termination fee shall be charged if the credit facility hereunder is replaced with a new facility from another division of Bank.”
2.2 Sections 2.1.2, 2.1.3 and 2.1.4 is each amended in its entirety and replaced with the following:
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Samples: Loan and Security Agreement (Derycz Scientific Inc)