Bank Facility Termination definition

Bank Facility Termination or "Bank Facilities Termination" shall mean indefeasible payment in full of all sums owing under the Notes and each of the other Loan Documents, the occurrence of the Stated Expiry Date or other termination of all outstanding Letters of Credit, and the irrevocable termination of the obligation to advance Borrowings, to advance Swingline Advances and to issue Letters of Credit.
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Bank Facility Termination means indefeasible payment in full of all sums owing under the Bank Facilities and each of the other Loan Documents, the occurrence of the Stated Expiry Date or other termination of all outstanding Letters of Credit, and the irrevocable termination of: (i) the obligation of Lenders to advance Borrowings under the Credit Facility and (ii) the obligation of L/C Issuer to issue Letters of Credit under the L/C Facility.
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Bank Facility Termination means indefeasible payment in full of all sums owing under the Note and each of the other Loan Documents and the irrevocable termination of the obligation of Banks to advance Borrowings.
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Examples of Bank Facility Termination in a sentence

  • Until payment in full of all sums owing hereunder and under the Revolving Credit Note and the occurrence of Bank Facility Termination, Borrower and MCRI agree, as set forth below, to comply or cause compliance with the following Financial Covenants.

  • Until the occurrence of Bank Facility Termination, no Change of Control shall occur.

  • The provisions of this Section 5.14 shall survive the termination of this Credit Agreement and Bank Facility Termination and the assignment or subparticipation of all or any portion of the Syndication Interest held by any Lender pursuant to Section 10.10.

  • All agreements, representations and warranties made herein shall survive the execution and delivery of this Credit Agreement, the making of the Bank Facilities hereunder and the execution and delivery of each other Loan Document until final payment of all sums owing under the Bank Facilities and Bank Facility Termination has occurred.

  • Until Bank Facility Termination, Borrowers agree, as set forth below, to comply or cause compliance with the following Financial Covenants.

  • This Agreement shall terminate upon the ----------- occurrence of Bank Facility Termination and the due release and termination of the Security Documentation which is executed and delivered concurrently, or substantially concurrent, herewith.

  • Commencing as of the Fiscal Quarter ended December 31, 2008 and continuing as of each Fiscal Quarter end through Bank Facility Termination, the Borrower shall maintain a minimum Fixed Charge Coverage Ratio no less than 1.25 to 1.00 to be calculated on a cumulative basis with respect to each Fiscal Quarter and the most recently ended three (3) preceding Fiscal Quarters on a rolling four (4) Fiscal Quarter basis.

  • This Agreement and all Secured ----------------- Obligations of Debtor hereunder shall be released when all Secured Obligations have been paid in full in cash or otherwise performed in full and when all obligations which the Banks, or any of them, may have to advance funds under the Bank Facilities, have been unconditionally and indefeasibly terminated and Bank Facility Termination shall have occurred.

  • Commencing with the Fiscal Quarter ending March 31, 2000 (unless Expansion Project Termination shall have occurred in which event commencing with the Fiscal Quarter ending September 30, 1998) and continuing as of each Fiscal Quarter end until Bank Facility Termination, the Borrower shall maintain a Fixed Charge Coverage Ratio no less than 1.25 to 1.00.

  • Until Bank Facility Termination Borrowers shall provide or cause to be provided to Banks and any authorized representatives of Banks, accompanied by representatives of Borrowers and coordinated with Agent Bank, the reasonable right of entry and free access to the Collateral Properties to inspect same on reasonable prior notice to Borrowers.


More Definitions of Bank Facility Termination

Bank Facility Termination. (a) SMI Minn shall not cause or permit to occur any Change of Control, and (b) SMI Miss and SMIL shall remain wholly owned Subsidiaries of SMI Minn.
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Related to Bank Facility Termination

  • Facility Termination Date means the date as of which all of the following shall have occurred: (a) the Aggregate Commitments have terminated, (b) all Obligations have been paid in full (other than contingent indemnification obligations), and (c) all Letters of Credit have terminated or expired (other than Letters of Credit as to which other arrangements with respect thereto satisfactory to the Administrative Agent and the L/C Issuer shall have been made).

  • Revolving Facility Termination Date means the earlier of (i) January 29, 2013, or (ii) the date that the Commitments have been terminated pursuant to Section 8.02.

  • Availability Termination Date means, as to any Borrower, the earlier of (a) the Maturity Date for such Borrower, (b) the reduction of the Borrower Sublimit of such Borrower to zero pursuant to Section 2.8.3 or termination of the obligation to make Loans to, or issue Letters of Credit for the account of, such Borrower pursuant to Section 8.1 and (c) the date of termination in whole of the Aggregate Commitment and the Commitments pursuant to Section 2.8.3 or Section 8.1.

  • Term Loan Termination Date means the earlier to occur of (a) the Term Loan Maturity Date and (b) the acceleration of the Term Loans in accordance with the terms hereof.

  • Loan Termination Date means the earliest to occur of the following: (i) as to TERM NOTE 2 and TERM NOTE 5, September 1, 2011; as to the REVOLVING NOTE, May 18, 2009 (ii) the date the OBLIGATIONS are accelerated pursuant to this AGREEMENT, and (iii) the date BANK receives (a) notice in writing from BORROWER of BORROWER’s election to terminate this AGREEMENT and (b) indefeasible payment in full of the OBLIGATIONS.

  • Revolving Loan Termination Date means the earlier of (a) the fifth anniversary of the Funding Date and (b) the date of termination in whole of the Aggregate Revolving Loan Commitment pursuant to Section 2.05(a) or Section 9.01 hereof.

  • Revolver Termination Date means the date that is the four (4) year anniversary of the Restatement Effective Date, unless extended with the consent of each Lender in its sole and absolute discretion.

  • Revolving Credit Termination Date means the earlier to occur of (i) the Current Termination Date then in effect and (ii) the date of termination in whole of the Commitments pursuant to Section 2.05(a) or 6.01.

  • Commitment Termination Date means the earlier of (a) the Maturity Date and (b) the earlier termination in whole of the Commitments pursuant to Section 2.04 or Article VII.

  • Term Loan Commitment Termination Date means the earliest to occur of (a) the Amendment No. 9 Effective Date, (b) the date the Term Loan Commitments are permanently reduced to zero pursuant to 2.01(b) and (c) the date of the termination of the Term Loan Commitments pursuant to Section 9.01.

  • Liquidity Termination Date means the earlier to occur of (a) July 13, 2009, as such date may be extended from time to time by the Lender’s Liquidity Banks in accordance with the Liquidity Agreement, and (b) the occurrence of an Event of Bankruptcy with respect to the Lender.

  • Swingline Termination Date means the date which is 7 Business Days prior to the Termination Date.

  • Forbearance Termination Date means the earlier to occur of (i) the Termination Date and (ii) a Termination Event.

  • Delayed Draw Term Loan Commitment Termination Date means the earliest to occur of (i) December 31, 2008, (ii) the date the Delayed Draw Term Loan Commitments are permanently reduced to zero pursuant to Section 2.1, and (iii) the date of the termination of the Delayed Draw Term Loan Commitments pursuant to Section 11.1.

  • Agreement Termination Date is defined in Section 7.4.

  • Commitment Termination Event means the earlier of (a) automatically and without notice or further action, the occurrence of any Event of Default described in Section 7.01(i) (Bankruptcy, Insolvency, etc.) with respect to the Borrower and (b) the occurrence and continuation of any other Event of Default under this Agreement pursuant to which either a Commitment Termination Event has been expressly declared or a declaration of the Loan to be due and payable has been given, in each case pursuant to Section 7.03 (Action if other Event of Default).

  • Revolving Loan Commitment Termination Date means the earliest of

  • Applied Special Termination Advance has the meaning assigned to such term in Section 2.05.

  • Letter of Credit Termination Date means the fifth Domestic Business Day prior to the Termination Date.

  • Disability Termination means termination by the Company of the Executive’s employment by reason of the Executive’s incapacitation due to disability. The Executive will be deemed to be incapacitated due to disability if at the end of any month the Executive is unable to perform substantially all of the Executive’s duties under this Agreement in the normal and regular manner due to illness, injury or mental or physical incapacity, and has been unable so to perform for either (i) three consecutive full calendar months then ending, or (ii) 90 or more of the normal working days during the 12 consecutive full calendar months then ending. Nothing in this paragraph alters the Company’s obligations under applicable law, which may, in certain circumstances, result in the suspension or alteration of the foregoing time periods.

  • Scheduled Commitment Termination Date means May 24, 2016, as such date may be extended by mutual agreement of the parties hereto (each, in their sole and absolute discretion) pursuant to Sections 2.21 and 12.01(b).

  • Revolving Commitment Termination Date means the earliest of (i) November 3, 2017, (ii) the date on which the Revolving Commitments are terminated pursuant to Section 2.9 and (iii) the date on which all amounts outstanding under this Agreement have been declared or have automatically become due and payable (whether by acceleration or otherwise); provided, that, with respect to any Extended Revolving Commitment (and the Extended Revolving Loans made pursuant thereto), the termination date set forth in the Extension Offer with respect thereto.

  • Extended Termination Date has the meaning specified in Section 2.16(c).

  • Special Termination Advance means an Advance made pursuant to Section 2.02(g).

  • Termination Date means the date of the termination of the Executive’s employment with the Company.

  • Escrow Termination Date has the meaning ascribed to such term in Section 9.12.