Common use of Termination; Repayment Clause in Contracts

Termination; Repayment. The Revolving Line terminates on the Revolving Line Maturity Date, when the principal amount of all Advances, the unpaid interest thereon, and all other Obligations relating to the Revolving Line shall be immediately due and payable. Subject to Section 12.11, Borrower shall have the right to terminate the Revolving Line at any time by delivering written notice to Bank at least 15 days prior to the effective date of termination specified in such notice (the

Appears in 1 contract

Samples: Loan and Security Agreement (Adept Technology Inc)

AutoNDA by SimpleDocs

Termination; Repayment. The Revolving Line terminates on the Revolving Line Maturity Date, when the the. principal amount of all Advances, the unpaid interest thereon, and all other Obligations relating to the Revolving Line shall be immediately due and payable. Subject to Section 12.11, Borrower shall have the right to may terminate the Revolving Line this Agreement at any time upon thirty (30) days advance written notice; provided that Borrower repays all Obligations and all outstanding Letters of Credit (including drawn but unreimbursed Letters of Credit and any Letter of Credit Reserve) are secured by delivering written notice cash on terms acceptable to Bank at least 15 days prior to the effective date of termination specified in such notice (theBank.

Appears in 1 contract

Samples: Loan and Security Agreement (Aprimo, INC)

Termination; Repayment. The Revolving Line terminates on the Revolving Line Maturity Date, when the principal amount of all Advances, the unpaid interest thereon, and all other Obligations relating to the Revolving Line shall be immediately due and payable. Subject to Section 12.11Provided that all Obligations hereunder have been repaid, the Borrower shall have the right to may terminate the Revolving Line this Agreement without penalty or premium at any time by delivering upon not less than five (5) Business Days prior written notice to Bank at least 15 days prior to the effective date of termination specified in such notice (theBank.

Appears in 1 contract

Samples: Loan and Security Agreement (Axs One Inc)

Termination; Repayment. The Revolving Line terminates on the Revolving Line Maturity Date, when the principal amount of all Advances, the unpaid interest thereon, and all other Obligations relating to the Revolving Line shall be immediately due and payable. Subject to Section 12.11Notwithstanding the foregoing, Borrower shall have the right to terminate the Revolving Line at any time by delivering upon three (3) Business Days’ written notice to Bank at least 15 days prior so long as all Obligations have been paid in full and Borrower has complied with Section 2.1.2(b) with regard to the effective date all Letters of termination specified in such notice (theCredit.

Appears in 1 contract

Samples: Loan and Security Agreement (Millennial Media Inc.)

AutoNDA by SimpleDocs

Termination; Repayment. The Revolving Line terminates on the Revolving Line Maturity Date, when the principal amount of all Advances, the accrued and unpaid interest thereon, and all other Obligations relating to the Revolving Line shall be immediately due and payable. Subject to Section 12.11Notwithstanding the foregoing, Borrower shall have the right to terminate the Revolving Line at any time by delivering upon three (3) Business Days’ written notice to Bank at least 15 days prior so long as all Obligations have been paid in full (and Borrower has complied with Section 4.1with regard to the effective date Obligations in respect of termination specified in such notice (theBank Services).

Appears in 1 contract

Samples: Loan and Security Agreement (Millennial Media Inc.)

Time is Money Join Law Insider Premium to draft better contracts faster.