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 by Borrowers prior to the Revolving Line Maturity Date, effective 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 Borrowers fully satisfy their Obligations (other than inchoate indemnity obligations or obligations under the Warrant). If such termination is at Borrowers’ election or at Bank’s election due to the occurrence and continuance of an Event of Default, Borrowers shall promptly pay to Bank, in addition to the payment of any other expenses or fees then-owing, (a) any Minimum Monthly Interest due for the time between the effective termination date and the next anniversary of the Effective Date and (b) a termination fee in an amount equal to 1.0% of the Revolving Line, provided that no termination fee shall be charged if the credit facility hereunder is replaced with a new facility from another division of Silicon Valley Bank.

Termination Prior to Revolving Line Maturity Date. This Agreement may be terminated by Borrowers prior to the Revolving Line Maturity DateDate by Borrower, effective 3 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 Borrower fully satisfy their Obligations (other than inchoate indemnity obligations or obligations under the Warrant)satisfies its Obligations. If such termination is at Borrowers’ Borrower’s election or at Bank’s election due to the occurrence and continuance of an Event of DefaultDefault or if any of the Obligations become due and payable as the result of an Event of Default (including, Borrowers without limitation, becoming due and payable as the result of an Insolvency Proceeding), Borrower shall promptly pay to Bank, in addition to the payment of any other expenses or fees then-owing, (a) any Minimum Monthly Interest due for the time between the effective termination date and the next anniversary of the Effective Date and (b) a termination fee in an amount equal to 1.0% of the Revolving Line, Maximum Dollar Amount if termination occurs on or before the first anniversary of the Effective Date; provided that no termination fee shall be charged if the credit facility hereunder is replaced with a new facility from another division of Silicon Valley Bank.

Termination Prior to Revolving Line Maturity Date. This Agreement may be terminated by Borrowers prior to the Revolving Line Maturity Date, effective 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 Borrowers fully satisfy their Obligations (other than inchoate indemnity obligations or obligations under the Warrant). If such termination is at Borrowers’ election or at Bank’s election due to the occurrence and continuance of an Event of Default, Borrowers shall promptly pay to Bank, in addition to the payment of any other expenses or fees then-owing, (a) any Minimum Monthly Interest due for the time between the effective termination date and the next anniversary of the Effective Date and (b) a termination fee in an amount equal to 1.01.5% of the Revolving Line, provided that no termination fee shall be charged if (i) such termination occurs prior to the first anniversary of the Effective Date or (ii) the credit facility hereunder is replaced with a new facility from another division of Silicon Valley Bank.

Termination Prior to Revolving Line Maturity Date. This Agreement may be terminated by Borrowers prior to the Revolving Line Maturity DateDate by Borrowers, effective 3 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 satisfy their Obligations (other than inchoate indemnity obligations or obligations under the Warrant)satisfies all Obligations. If such termination is at Borrowers’ election or at Bank’s election due to the occurrence and continuance of an Event of DefaultDefault or if any of the Obligations become due and payable as the result of an Event of Default (including, without limitation, becoming due and payable as the result of an Insolvency Proceeding), Borrowers shall promptly pay to Bank, in addition to the payment of any other expenses or fees then-owing, (a) any Minimum Monthly Interest due for the time between the effective termination date and the next anniversary of the Effective Date and (b) a termination fee in an amount equal to 1.01% of the Revolving LineMaximum Dollar Amount if termination occurs on or before the first anniversary of the Effective Date, and 0.5% of the Maximum Dollar Amount if termination occurs after the first anniversary of the Effective Date and on or before the second anniversary of the Effective Date; provided that no termination fee shall be charged if the credit facility hereunder is replaced with a new facility from another division of Silicon Valley Bank.

Termination Prior to Revolving Line Maturity Date. This Agreement may be terminated by Borrowers prior to the Revolving Line Maturity DateDate by Borrower, effective 3 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 Borrowers Borrower fully satisfy their Obligations (other than inchoate indemnity obligations or obligations under the Warrant)satisfies its Obligations. If such termination is at Borrowers’ Borrower’s election or at Bank’s election due to the occurrence and continuance of an Event of Default, Borrowers Borrower shall promptly pay to Bank, in addition to the payment of any other expenses or fees then-owing, (a) any Minimum Monthly Interest due for the time between the effective termination date and the next anniversary of the Effective Date and (b) a termination fee in an amount equal to 1.0% one and one half percent (1.50%) of the Revolving Line, if such termination occurs on or prior to the first anniversary of the Effective Date, or one half of one percent (0.50%) of the Revolving Line, if such termination occurs following the first anniversary of the Effective Date (the “Termination Fee”); provided that no termination fee Termination Fee shall be charged if the credit facility hereunder is replaced with a new facility from another division of Silicon Valley Bank.