Terminations by Existing Lender Sample Clauses

Terminations by Existing Lender. Borrower's existing lender(s) shall have executed and delivered UCC termination statements and other documentation evidencing the termination of its liens and security interests in the assets of Borrower or a subordination agreement in form and substance satisfactory to FINOVA in its sole discretion;
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Terminations by Existing Lender. Borrower's existing lender(s) shall have executed and delivered UCC termination statements and other documentation evidencing the termination of its liens and security interests in the assets of Borrower (other than real property) in form and substance reasonably satisfactory to Agent in its sole discretion; with respect to PNC Bank, Borrower shall (i) terminate all notes, options, warrants (other than the PNC Warrant), capital stock holdings and other instruments of Borrower held by PNC Bank, (ii) pay all prepayment penalties, fees and other amounts due PNC Bank, (iii) deliver to Agent executed UCC termination statements terminating all personal property liens (excluding real property) of record in any jurisdiction naming PNC Bank (or its predecessors in interest) as secured party and Borrower as debtor, and (iv) deliver to Agent executed instruments terminating all trademark and intellectual property liens held by PNC Bank;
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Terminations by Existing Lender. BORROWER'S EXISTING LENDER(S) SHALL ------------------------------- HAVE EXECUTED AND DELIVERED UCC TERMINATION STATEMENTS AND OTHER DOCUMENTATION EVIDENCING THE TERMINATION OF ITS LIENS AND SECURITY INTERESTS IN THE ASSETS OF BORROWER OR A SUBORDINATION AGREEMENT IN FORM AND SUBSTANCE SATISFACTORY TO FINOVA IN ITS SOLE DISCRETION;
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Terminations by Existing Lender. General Electric Capital Corporation and any other applicable secured creditor shall have executed and delivered (i) evidence satisfactory to FINOVA that all of the obligations to General Electric Capital Corporation will be performed and paid in full from the proceeds of the initial advance hereunder and (ii) UCC termination statements, termination of blocked account letters, third party notification letters and other documentation evidencing the termination of its liens and security interests in the assets of Borrower.
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Terminations by Existing Lender. Borrower's, Parent's and HHC's existing lenders shall have executed and delivered UCC termination statements and other documentation evidencing the termination of its liens and security interests in the assets of Borrower, Parent, or HHC, or a subordination agreement in form and substance satisfactory to Lender in its sole discretion; (c)
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Terminations by Existing Lender. Comerica shall have executed and delivered UCC termination statements and other documentation evidencing the termination of its liens and security interests in the assets of Borrower;
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Terminations by Existing Lender. At the time of each Advance, the Borrower’s existing lender(s), if any, and the holders of any Lien on any Collateral shall have prepared and delivered and authorized the filing of and the Lender, the Custodian or acceptable bailee shall have received either UCC termination statements (or, if acceptable to the Lender, UCC assignments) and other documentation evidencing the termination (or, if acceptable, assignments) of such Liens in the Collateral and the collateral described in any Credit Document.
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Terminations by Existing Lender. Borrower's existing lender, NationsBank of Texas, N.A., shall have executed and delivered (or agreed to execute and deliver) UCC termination statements and other documentation evidencing the termination of its liens and security interests in the assets of each Loan Party; (c)
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Related to Terminations by Existing Lender

  • Termination of Defaulting Lender The Borrower may terminate the unused amount of the Revolving Commitment of any Revolving Lender that is a Defaulting Lender upon not less than ten (10) Business Days’ prior notice to the Administrative Agent (which shall promptly notify the Lenders thereof), and in such event the provisions of Section 2.24(a)(ii) will apply to all amounts thereafter paid by the Borrower for the account of such Defaulting Lender under this Agreement (whether on account of principal, interest, fees, indemnity or other amounts); provided that (i) no Event of Default shall have occurred and be continuing, and (ii) such termination shall not be deemed to be a waiver or release of any claim the Borrower, the Administrative Agent, the Issuing Lender, the Swingline Lender or any other Lender may have against such Defaulting Lender.

  • Replacement of a Defaulting Lender (a) The Company may, at any time a Lender has become and continues to be a Defaulting Lender, by giving five Business Days’ prior written notice to the Facility Agent and such Lender:

  • Purchase of Defaulting Lender’s Commitment During any period that a Lender is a Defaulting Lender, the Borrower may, by the Borrower giving written notice thereof to the Administrative Agent, such Defaulting Lender and the other Lenders, demand that such Defaulting Lender assign its Commitment and Loans to an Eligible Assignee subject to and in accordance with the provisions of Section 13.6(b). No party hereto shall have any obligation whatsoever to initiate any such replacement or to assist in finding an Eligible Assignee. In addition, any Lender who is not a Defaulting Lender may, but shall not be obligated to, in its sole discretion, acquire the face amount of all or a portion of such Defaulting Lender’s Commitment and Loans via an assignment subject to and in accordance with the provisions of Section 13.6(b). In connection with any such assignment, such Defaulting Lender shall promptly execute all documents reasonably requested to effect such assignment, including an appropriate Assignment and Assumption and, notwithstanding Section 13.6(b), shall pay to the Administrative Agent an assignment fee in the amount of $7,500. The exercise by the Borrower of its rights under this Section shall be at the Borrower’s sole cost and expense and at no cost or expense to the Administrative Agent or any of the Lenders.

  • Replacement of Non-Consenting Lender If, in connection with any proposed change, waiver, discharge or termination to any of the provisions of this Agreement as contemplated by this Section 9.02, the consent of the Required Lenders shall have been obtained but the consent of one or more Lenders (each a “Non-Consenting Lender”) whose consent is required for such proposed change, waiver, discharge or termination is not obtained, then (so long as no Event of Default has occurred and is continuing) the Borrower shall have the right, at its sole cost and expense, to replace each such Non-Consenting Lender or Lenders with one or more replacement Lenders pursuant to Section 2.18(b) so long as at the time of such replacement, each such replacement Lender consents to the proposed change, waiver, discharge or termination.

  • Disenfranchisement of Defaulting Lenders (a) For so long as a Defaulting Lender has any Available Commitment, in ascertaining the Majority Lenders or whether any given percentage (including, for the avoidance of doubt, unanimity) of the Total Commitments has been obtained to approve any request for a consent, waiver, amendment or other vote under the Finance Documents, that Defaulting Lender’s Commitments will be reduced by the amount of its Available Commitments.

  • No Assignment to Defaulting Lenders No such assignment shall be made to a Defaulting Lender.

  • Termination of Commitment On the service of a notice under paragraph (a) of Clause 18.2, the Commitment and all other obligations of the Lender to the Borrower under this Agreement shall terminate.

  • Termination of Commitments Declare the Commitments terminated whereupon the Commitments shall be immediately terminated.

  • Termination and Reduction of Commitments (a) Unless previously terminated, the Commitments shall terminate on the Maturity Date.

  • Prepayment; termination of Commitment A notice under Clause 24.4 shall be irrevocable; the Agent shall promptly notify the Notifying Lender of the Borrower’s notice of intended prepayment; and:

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