Common use of Terms and Termination Clause in Contracts

Terms and Termination. The term of this Agreement, unless sooner terminated in accordance with this Agreement, shall be for a period of one year from the date hereof (the “Termination Date”), provided, however, that (a) this Agreement shall automatically renew for one (1) year periods from year to year thereafter unless terminated or at the end of any subsequent annual anniversary of the Termination Date by the Resellers upon at least 90 days prior written notice sent by the Reseller Agent; and (b) CPC may terminate this Agreement (i) immediately upon a Default, or (ii) at any time by at least 60 days prior written notice by CPC to Reseller Agent, provided further, however that where Reseller Agent requests further time be provided within the 60 day notice period CPC may agree to an extension of 30 more days. Upon termination of this Agreement, all Indebtedness owed to CPC shall become immediately due and payable without notice or demand. Upon any termination, Resellers shall remain liable to CPC for all Indebtedness to CPC, including without limitation interest, fees, charges and expenses arising prior to or after the effective date of termination, and all of CPC’s rights and remedies and its security interest shall continue until all Indebtedness to CPC is indefeasibly paid in full and all obligations of Resellers are performed.

Appears in 2 contracts

Samples: Credit Agreement, Credit Agreement (Presidio, Inc.)

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Terms and Termination. The term of this Agreement, unless sooner terminated in accordance with this Agreement, shall be for a period of one year two years from the date hereof of this Agreement (the “Termination Date”), provided, however, that (a) this Agreement shall automatically renew for one (1) year periods from year to year thereafter unless terminated or at the end of any subsequent annual anniversary of the Termination Date by the Resellers Dealer upon at least 90 days prior written notice sent by the Reseller Agentnotice; and (b) CPC may terminate this Agreement (i) immediately (A) by written notice to Dealer if Dealer shall lose or relinquish any right to sell or deal in any Financed Inventory or (B) upon a Default, or (ii) at any time by at least 60 days prior written notice by CPC to Reseller Agent, provided furtherDealer, however that where Reseller Agent Dealer requests further time be provided within the 60 day notice period CPC may will agree to an extension of 30 more days. Upon termination of this Agreement, all Indebtedness owed to CPC shall become immediately due and payable without notice or demand. Upon any termination, Resellers Dealer shall remain liable to CPC for all Indebtedness to CPC, including without limitation interest, fees, charges and expenses arising prior to or after the effective date of termination, and all of CPC’s rights and remedies and its security interest shall continue until all Indebtedness to CPC is indefeasibly paid in full and all obligations of Resellers Dealer are performed.

Appears in 1 contract

Samples: Credit Agreement (I Sector Corp)

Terms and Termination. The term of this Agreement, unless sooner terminated in accordance with this Agreement, shall be for a period of one (1) year from the date hereof (the “Termination Date”), provided, however, that (a) this Agreement shall automatically renew for one (1) year periods from year to year thereafter unless terminated or at the end of any subsequent annual anniversary of the Termination Date by the Resellers upon at least 90 60 days prior written notice sent by the Reseller Agentnotice; and (b) CPC may terminate this Agreement (i) immediately upon a Default, or (ii) at any time by at least 60 days prior written notice by CPC to Reseller Agent, provided furtherResellers, however that where Reseller Agent requests further time be provided within the 60 day notice period CPC may agree to an extension of 30 more days. Upon termination of this Agreement, all Indebtedness owed to CPC shall become immediately due and payable without notice or demand. Upon any termination, Resellers shall remain liable to CPC for all Indebtedness to CPC, including without limitation interest, fees, charges and expenses arising prior to or after the effective date of termination, and all of CPC’s rights and remedies and its security interest shall continue until all Indebtedness to CPC is indefeasibly paid in full and all obligations of Resellers are performed.

Appears in 1 contract

Samples: Credit Agreement (Pc Connection Inc)

Terms and Termination. The term of this Agreement, unless sooner terminated in accordance with this Agreement, shall be for a period of one year from the date hereof terminate on August 1, 2009 (subject to renewal as provided below, the “Termination Date”), provided, however, that (a) this Agreement shall automatically renew for one (1) year periods from year to year thereafter unless terminated or at the end of any subsequent annual anniversary of the Termination Date by the Resellers Reseller upon written notice at least 90 days prior written notice sent by to the Reseller Agentcurrent Termination Date; and (b) CPC may terminate this Agreement immediately (i) immediately upon a Default, by written notice to Reseller if Reseller shall lose or relinquish any right to sell or deal in any Financed Inventory or (ii) upon a Default; or (c) CPC may terminate (i) the Inventory Facility and the Revolving Credit Facility at any time by at least 60 days prior written notice by CPC to Reseller AgentReseller, and (ii) the Approved Acquisition Facility at any time by at least 120 days prior written notice by CPC to Reseller; provided furtherhowever, however that where Reseller Agent requests further time be provided within either the 60 day notice period or 120 day notice period, as applicable, CPC may will agree to an extension of 30 more days. Upon termination of this Agreement, all Indebtedness owed to CPC shall become immediately due and payable without notice or demand. Upon any termination, Resellers Reseller shall remain liable to CPC for all Indebtedness to CPC, including without limitation interest, fees, charges and expenses arising prior to or after the effective date of termination, and all of CPC’s 's rights and remedies and its security interest shall continue until all Indebtedness to CPC is indefeasibly paid in full and all obligations of Resellers Reseller are performed.

Appears in 1 contract

Samples: Acquisition Facility Amendment to Amended and Restated Credit Agreement (INX Inc)

Terms and Termination. The term of this Agreement, unless sooner terminated in accordance with this Agreement, shall be for a period of one year from the date hereof of this Agreement (the “Termination Date”), provided, however, that (a) this Agreement shall automatically renew for one (1) year periods from year to year thereafter unless terminated or at the end of any subsequent annual anniversary of the Termination Date by the Resellers Reseller upon at least 90 days prior written notice sent by the Reseller Agentnotice; and (b) CPC may terminate this Agreement (i) immediately (A) by written notice to Reseller if Reseller shall lose or relinquish any right to sell or deal in any Financed Inventory or (B) upon a Default, or (ii) at any time by at least 60 days prior written notice by CPC to Reseller Agent, provided furtherReseller, however that where Reseller Agent requests further time be provided within the 60 day notice period CPC may agree to an extension of 30 more days. Upon termination of this Agreement, all Indebtedness owed to CPC shall become immediately due and payable without notice or demand. Upon any termination, Resellers Reseller shall remain liable to CPC for all Indebtedness to CPC, including without limitation interest, fees, charges and expenses arising prior to or after the effective date of termination, and all of CPC’s 's rights and remedies and its security interest shall continue until all Indebtedness to CPC is indefeasibly paid in full and all obligations of Resellers Reseller are performed.

Appears in 1 contract

Samples: Credit Agreement (INX Inc)

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Terms and Termination. The term of this Agreement, unless sooner terminated in accordance with this Agreement, shall be for a period of one year from the date hereof terminate on December 31, 2011 (subject to renewal as provided below, the “Termination Date”), provided, however, that (a) this Agreement shall automatically renew for one (1) year periods from year to year thereafter unless terminated or at the end of any subsequent annual anniversary of the Termination Date by the Resellers Reseller upon written notice at least 90 days prior written notice sent by to the Reseller Agentcurrent Termination Date; and (b) CPC may terminate this Agreement immediately (i) immediately upon a Default, by written notice to Reseller if Reseller shall lose or relinquish any right to sell or deal in any Financed Inventory or (ii) upon a Default; or (c) CPC may terminate the Inventory Facility and the Revolving Credit Facility at any time by at least 60 days prior written notice by CPC to Reseller AgentReseller; provided however, provided further, however that where Reseller Agent requests further time be provided within the 60 day notice period CPC may will agree to an extension of 30 more days. Upon termination of this Agreement, all Indebtedness owed to CPC shall become immediately due and payable without notice or demand. Upon any termination, Resellers Reseller shall remain liable to CPC for all Indebtedness to CPC, including without limitation interest, fees, charges and expenses arising prior to or after the effective date of termination, and all of CPC’s 's rights and remedies and its security interest shall continue until all Indebtedness to CPC is indefeasibly paid in full and all obligations of Resellers Reseller are performed.

Appears in 1 contract

Samples: Credit Agreement (INX Inc)

Terms and Termination. The term of this Agreement, unless sooner terminated in accordance with this Agreement, shall be for a period of one (1) year from the date hereof (the “Termination Date”), provided, however, that (a) this Agreement shall automatically renew for one (1) year periods from year to year thereafter unless terminated or at the end of any subsequent annual anniversary of the Termination Date by the Resellers Reseller upon at least 90 days prior written notice sent by the Reseller Agentnotice; and (b) CPC may terminate this Agreement (i) immediately upon a Default, or (ii) at any time by at least 60 days prior written notice by CPC to Reseller Agent, provided furtherReseller, however that where Reseller Agent requests further time be provided within the 60 day notice period CPC may agree to an extension of 30 more days. Upon termination of this Agreement, all Indebtedness owed to CPC shall become immediately due and payable without notice or demand. Upon any termination, Resellers Reseller shall remain liable to CPC for all Indebtedness to CPC, including without limitation interest, fees, charges and expenses arising prior to or after the effective date of termination, and all of CPC’s rights and remedies and its security interest shall continue until all Indebtedness to CPC is indefeasibly paid in full and all obligations of Resellers Reseller are performed.

Appears in 1 contract

Samples: Credit Agreement (Pcm, Inc.)

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